You ain’t seen nothing yet.
I’d much rather see it in ‘24.
It was worse than that for investment in general.
If there must be fantasy and speculation this is much nicer. May as well go out and down with happy thoughts.
https://freerepublic.com/focus/f-chat/4120578/posts
If you like your investments you can keep them. End of quote. end of line.
And that was with the help of the BLS lying to us about the jobs reports. Now that it will be revealed jobs are terrible they will finally declare a recession and probably backdate it so they can claim we are out of it already/sooner.
BidenDepression II 2023
They gotta name it or it doesn’t count. Just sayin’.
“2022 was worst year for the stock market since 2008.”
It was the worst year economically dating back into the 1800s.
Biden is an economic illiterate who signs budgets drafted by generational thieves.
Imagine this occurring under a Republican president.
I think the numbers were fudged in ‘22. There were a million fewer jobs than had been reported.
The layoffs have already happened. They happened through closing of job openings.
It’s worse than the public has been lead to believe. It will get worse than that.
Well, I lost $48K in my annuity account this past year. FJB/LGB/ETC.
From the News Source (Fox Business Network):
"HOST MARIA BARTIROMO: You've got a number of companies either freezing, hiring or cutting their workforce.
Is that going to continue this year?"
" DAN IVES: Look, a lot of Big Tech, they were spending money like 1980s rockstars. And I think that really shows.
Sometimes they were increasing 15, 20% per year.
I still think it's a 'rip the Band-Aid off,' still some more headcount cuts.
We think potentially another 8 to 10% headcount cuts in Big Tech.
You look at what happened with Meta, and that's a good example. "
"Once Zuckerberg finally read the room, cut in terms of what he needed to, stock ultimately lifted.
I think, be that as a catalyst, I think you will see a continued cutting of heads in Big Tech
because they're getting ready for the Category 5 storm in terms of what we're seeing with the macro."
Darn there goes my new boat. Marshall 22 catboat..
Where the stock market goes in January so goes the rest of the year.
January 2022 for the markets was very volatile and ended in a loss. The rest of the year did the same.
Commodities are going to do very well this year.
Fixed it for you.
The Financial Times reported that 2022 was the worst year for U.S. stocks and bonds since 1871. Bonds down 17%, stocks down 18%. Those are nominal numbers, and are not adjusted for inflation.
The Morgan Stanley Capital International (MSCI) World Index reported that $18 Trillion was lost globally by stocks and bonds in 2022. Again, nominal numbers, not adjusted for inflation.
Assuming that collective reporting by the governments of the world is even remotely accurate, the financial net worth of the world was $250 Trillion, global net wealth was $380 Trillion and the Gross World Product was $80 Trillion at the end of 2021.
So, in a single year, 27.5% of Gross World Product, 8.8% of the financial net worth of the world, and 5.8% of the world’s total wealth got annihilated.
Officially, the national debt of the United States is $31.5 Trillion with an additional $173.4 Trillion of unfunded liabilities, mostly for Medicare, Social Security, Medicaid, etc. State and local governments are carrying an additional $3.5 Trillion in debt. To put this in perspective, the total government liabilities of the United States are equal to 84% of global financial net worth.
The rest of the governments of the world are carrying more than $63 Trillion of “official” debt, and a much larger, but unknown, total of unfunded financial liabilities.
Globally, the governments of the world “officially” consume 17% of GDP, and run deficits of 10% of GDP. The United States “officially” spends 36.9% of its GDP on government and runs deficits of 6% of GDP. To date this has been made possible by historically low interest rates. However inflation is driving increases in those interest rates, which will make the financing of even “official” government debt unaffordable for many nations, including the United States.
Nationally and globally, government debt and unfunded liabilities far exceed global wealth, and are growing faster than global wealth. It addition, much of what is on the balance sheets of global wealth are relatively illiquid assets. In the hands of the their current owners, they are probably productive, but if forced to liquidate, they would likely realize a small portion of their book value.
Again, all of the above is in nominal values, inflation has not been factored in.
I do not know if there is an “Economic Bomb Cyclone” coming, but things are going to get a lot worse. The single best thing the United States could do to turn this around would be to cut in half the total size of government at all levels, Federal, State, and Local, so that government ended up at under 20% of GDP.
However, the political will to do that is lacking as people want their “free” stuff.
Ultimately, TANSTAAFL, and the rapidly approaching reckoning will make the Great Depression, Weimar Republic, Venezuela, Haiti, and Zimbabwe look like Teddy Bear Picnics.
Biden’s Trickle Down Poverty Plan! It’s working!