Posted on 10/20/2021 9:56:59 AM PDT by Boomer
America has already slipped into a recession that could be as bad as the 2008 financial meltdown according to key consumer data, a Dartmouth College professor has warned.
David Blanchflower, of Dartmouth, and Alex Bryson, of University College London, say that every slump since the 1980s has been foreshadowed by 10-point drops in consumer indices from the Conference Board and University of Michigan.
The indices are drawn from questions put to ordinary Americans about their income expectations, employment conditions and what they expect for the US economy in the near future.
(Excerpt) Read more at dailymail.co.uk ...
“could be as bad as the 2008 financial meltdown”
What a crock. This is already WAAAYY worse than that one.
p
America is about to learn a hard lesson. The financial pain and insecurity is just beginning.
And just wait until our foreign adversaries start getting more aggressive after the Winter Olympics are over. The fun will really start then.
“What a crock. This is already WAAAYY worse than that one.”
Not even close. Stock market today is heading into record territory, homes are selling, people have jobs.
A few empty shelves in certain regions is all we have and some inflation.
Things are piling up: Borders open, ports closed, troops bugged out, citizens abandoned, fuel prices skyrocket, same with food, leaving empty shelves in our stores, and more.
And Covid hysteria, of course.
As bad as 2008?
That would be a BLESSING! More like, what’s coming will make 1929-38, look like ‘the good old days’.
Inflation? Tell me what they now include to estimate inflation.
Its is a lie. And you know it.
As for the credit system. The fed cant increase the interest rate because if they do, the largest expenditure for the national budget will become the interest on the national debt. That you also know.
Interest rates are low, stocks will grow, Interest rates are high, stocks will die.
Stagflation on steroids.
Making citizens into dependent subjects and sheeple and destroying the free economy are essential for a communist/Nazi/leftist dictatorship.
“could be as bad as the 2008 financial meltdown”
—
New and improved! Now with inflation!
I lived through recessions. I will take what we have right now over a true recession.
Well if it’s already worse than 2008 then I’m doing ok and holding. Well will certainly see what else is to come over the winter.
It isn’t yet. But it is very much poised to be. They have to lift the eviction and foreclosure moratoriums first. Then people will lose their homes, their savings will be depleted, and any attempt to raise interest rates will be immediately reversed to spur economic investment.
I figure the supply chain issues will sort out in the next year or so. But not very soon. We are closing in on Chinese Lunar New Year when the whole country basically shuts down for 2-3 weeks. That’ll be late January early February. Then in the following weeks they will play catch up and another flood of ships will start heading our way in the spring. We need to make more stuff in the USA. Or heck, anywhere in the Americas would be an improvement.
Inflation is going to be up over 10% for the two year period ending in 2022. Labor prices will be suppressed by a surge of new arrivals willing to work for less money. And a large number of people just don’t want to work in conditions they don’t enjoy. It’s demoralizing and inhumane. We could have a recession just because enough people decide their lives are better with less consumerism.
I’m personally in a form of mental crisis trying to decide what to do with my business. I don’t want to do what I have been doing. I want to do something else and have a few irons in the fire to see which one heats up first. Maybe more than one; but it will require investment of time and money and learning a lot of new ways I am unfamiliar with. I’m up for it. Maybe I need to post here less :-)
The Vaccine Mandate Recession.
“They have to lift the eviction and foreclosure moratoriums first”
Those have been lifted nationwide back in September except in NY.
and you were doing so well with your cherry-picking of economic data points — until you got to the end there
“some inflation” ???
the annual pace of inflation is at its highest level in 30 years, as of the most recent report for September 2021.
from Marketwatch
“Until very recently, Federal Reserve leaders insisted inflation would start to fall back to toward pre-pandemic levels of 2% or less by the end of this year.
Yet in the past week senior central bank leaders acknowledged inflation could remain high well into 2022 because of ongoing shortages of crucial business supplies and and even labor.”
so “some inflation’?
that’s where the credibility of your assertions evaporated
Stock market just reached record high.
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