Price of steel up 168% since August 2020. Low inventory due to mills deemed non essential during lockdown. Unavailability of chips for machines in the mills that process steel due in part to sanctions, and pandemic.
But this time it’s on purpose, as a war strategy against us.
The economy is in shambles, which seem reasonable given Biden/Covid but housing is 4 million short of demand? Seems counterintuitive.
I guess it’s time to learn about dumpster diving.
Americans cannot expect a return to economic normalcy under democrat party rule.
HR 1 would cement their power in place.
Despite its racial bifurcation, America was socially stable in the 1930s during the Great Depression.
A similar depression today will cause an unprecedented social explosion.
China and Russia understand this perfectly well, and their 5th column of communist traitors and useful idiots will do all they can to make this coming social explosion a terminal event for the USA.
WHEN THE MUSIC STOPS: HOW AMERICA’S CITIES MAY EXPLODE IN VIOLENCE
Posted by Matt Bracken | May 31, 2020
(I wrote this essay in 2012 for Western Rifle Shooters Association, where it quickly racked up over 400 replies and comments. I’m reposting it here in American Partisan on May 31, 2020, during the George Floyd riots, without revision.)
I hope you are wrong but would not be shocked to see a serious dip in the economy. The psychology of Americans has been severely damaged by the Wuhan, becoming germophobes, agrophobes and wokesters. All liberty loving Americans need to band together and fight back.
Inflation will also happen when another several trillion dollars is spent and there is no supply available.
In 1979 I bought my house and paid 18.5% interest rates, unemployment was in the double digits, gas prices had tripled and the doom and gloom crowd was predicting 1929 era depression.
Ronald Reagan got elected, lowered taxes, created jobs, destroyed the soviet union, and we had 20+ plus years of economic boom times.
Interest rates have been kept low by the fed, but zero or negative interest rates are against the laws of long term prosperity in a capitalist system.
Rising interest rates are not going to create a depression.
The flow of private capital and investment into lawless, unlivable Democratic controlled urban areas has slowed to a trickle. Right now the socialists are living off Federal aid and subsidies that cannot lasr forever. Noticable in NYC is the withdrawal of foreign capital from high end NYC real estate. Foreigners had seen high end American urban real estate a safe depository for their wealth. The US had a constitution, laws and banks that respected private property. Now foreigners are no longer so sure about the safety of investments in urban America.
I am a pragmatist and I see no good for us in this administration, none. That said though, we have had enough gloom and doom to last at least a couple of lifetimes.
Our state is a state of mind as much as anything and our state of mind stinks.
Covid was generated by democrats, it is they that have caused all of this and ruined people’s lives along with the country. Joe Biden. Fake president and the whole world knows it.
We have let them do this. We sit back, whine and watch it.
*** the COVID-19 pandemic has left the U.S. economy in shambles.***
I am SO sick of this nonsense. Anyone with half a brain knows that it wasn’t COVID-19 that destroyed businesses and millions of jobs—it was the over-the-top nonsensical restrictions and shutdowns imposed by the (mostly) Democrat Mayors and Governors.
“Mortgage rates are climbing above 3 percent, while gas prices are skyrocketing—increasing more than 50 cents per gallon, with no end in sight. There is a global shortage of computer chips, generators, and houses. America’s housing market is nearly 4 million homes short of buyer demand, undermining the career prospects of Millennials and other generations.”
This guy is totally clueless. Mortgage rates climbing above 3% is somehow a disaster? I bought a home in 1968 and took out a 20 yr mtg at 6% and I was an employee of the bank.
Rates are rising because demands for Homes (and mortgages) is way outstripping supply. The rule of supply/demand at work here.
Gasoline is selling for $2.59 here in SC. Adjusted for inflation from 1960 when Gasoline was selling for about $.30 per gallon gasoline would cost $2.71
Shortages caused by the lock down will end and we are already seeing this. As far as this guys call for a recession? We are always either going forward towards one or coming out of one.
It’s called the business cycle.
Lol. There’s millions of jobs available. But until the unemployment monies run out at the federal level, people won’t go after the jobs. Of course, they could try to offer a little more then the unemployment check to get people back to work. But no. McDonald’s is offering 50 dollars to apply. Lol. And 3 percent for a mortgage is practically free money for a house. The GDP will be historic this year.
bfl
‘America, Here Comes the Great Depression 2.0”
America, Here Comes Civil War 2.0
There, fixed it
p
“Now, I am moving into long-term equity anticipation securities (LEAPS), with my research showing a potential recession or depression within the next 18 to 24 months.”
Moving into LEAPS doesn’t make sense given his economic outlook. He must mean he is selling LEAPS instead of buying them.
None of this is because of “covid”. It is because of power mad Democrats who could not stand the fact that we were all doing just fine without them.