“could be as bad as the 2008 financial meltdown”
What a crock. This is already WAAAYY worse than that one.
“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.
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 :-)