I hope that I am wrong, but I fear it will be worse than a “recession”.
We have NEVER had this much consumer debt. As consumer spending dries up the small businesses that survived Covid will not be able to make it and unemployment will rise drastically further fueling the downward spiral.
Our government and the “Fed” have shot their wad with stimulus or quantitative easing. They can still do it, but it has no effectiveness beyond propping up their chosen causes because it further erodes the dollar.
I would love to be wrong, but I think we are in deep trouble. My unease with our current situation is made worse by the bleatings of a journalism class that has been wrong about every major issue recently to include economics.
We did not get here overnight and we will not get out of it overnight either......
“We did not get here overnight and we will not get out of it overnight either......”
Well, maybe with a big war, but even then, we don’t have a manufacturing economy so going on a wartime footing will not bring broad economic benefits to offset a general depression I think.
Every time the TCMDO exceeds 360% of GDP, we go into a recession.
We are already there.
With Biden’s Mafia giveaways, it will only get worse.
Every time the TCMDO exceeds 360% of GDP, we go into a recession.
We are already there.
With Biden’s Mafia giveaways, it will only get worse.