How bad will the upcoming recession be?

[Lakers Legend#32]

Poopsie will just have to sell more insurance.

[Jasper]

Come on man, how many times do I have to correct you?

I am not stating an opinion. I am stating a fact.

1) R / D... it doesn't matter. This is not a partisan issue. DC does not have any interest in balancing the budget. In fact, mathematically, they can't. The system would collapse on itself, which it is going to do anyways, the only unanswered question is when.

2) This massive, massive spending in response to COVID started under a "Republican" presidency in one Donald J Trump, as it would have under any other president. And the reason that it would happen under any president is because the population (people like you and me) are largely incredibly ignorant and stupid especially as it pertains to the issue of money / currency / devaluation etc. There was practically nobody in DC, in entertainment, on this board... calling for DC to stop their insanity spending back in April 2020 and for the following 12+ months. Virtually nobody. VIRTUALLY NOBODY.

It's not a partisan issue. It's not a democrat thing. It's not a republican thing. Stop this shit. You aren't helping anyone, least of all yourself.

Educate yourself. Quit the shit.

well said

[Jasper]

I and plenty of other republicans were hoping trump wouldn't give into the mass hysteria mostly coming from demoRATS

that's the only reason he signed that shit, that's it. You won't believe it, and that's fine. Because we're all gonna be in breadlines soon, so it doesn't really matter.

this is a fabrication in your trumptard mind. Trump had zero influence from the demo's because he was pro rightard. People were sent home from work , could not pay bills and businesses closed their doors .... quite blaming other parties for what happened when the pandemic occurred. your just a whiny cry baby like nazi racist trump

[TheMan]

I'd like for you to taste my Size 12 boots. Right after I've buried them deep into your scrawny ass.

[TheMan]

Actually you dreamt of owning one because you wanted to make yourself the only customer of such restaurant.

[Nanners]

I think the coming recession is going to make 2008 look like a cakewalk... in 2008 we didnt have massive inflation or a broken global supply chain, and the country was much more stable and calm politically.

[Long Duck Dong]

I think the coming recession is going to make 2008 look like a cakewalk... in 2008 we didnt have massive inflation or a broken global supply chain, and the country was much more stable and calm politically.

I hope not. Some folks with money saved (if inflation hasn't eaten too much of the liquidity lol) might be salivating at the chance to snap up property or other things with value that will take a temporary dip. Some folks are salivating at the political gains to be made with Democrats controlling the White House and Congress. I guess I'm getting too old to wish for more chaos.

Elon musk this week:

A Twitter user asked Musk, "Do you still think we're approaching a recession?"

"Yes, but this is actually a good thing," the Tesla CEO responded. "It has been raining money on fools for too long. Some bankruptcies need to happen."

"Also, all the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard," he added, referring to the increasing number of workers working from home during and after the pandemic, and potentially referencing the lax attitude as a result of checks from COVID-19 relief bills. "Rude awakening inbound!"

"Based on past experience, about 12 to 18 months," Musk responded. "Companies that are inherently negative cash flow (ie value destroyers) need to die, so that they stop consuming resources."

[paksat]

I hope not. Some folks with money saved (if inflation hasn't eaten too much of the liquidity lol) might be salivating at the chance to snap up property or other things with value that will take a temporary dip. Some folks are salivating at the political gains to be made with Democrats controlling the White House and Congress. I guess I'm getting too old to wish for more chaos.

Elon musk this week:

you do realize the FDA are saying eggs are expected to be 12 dollars per dozen come october right?

that's gonna be 7 to 8 times worse than the 2008 recession. That means milk will be between 12 to 14 bucks a gallon, you're looking at a box of mac n cheese for $8 bro

people don't understand what's about to hit, even with prices already creeping up and creeping up. We're literally about to go into an apocalypse and no one seems to get it because they're too damn stupid from sitting on their phones all day on instagram.

one of russia's ministers recently said, "biden and zelensky will be remembered as two presidents who orchestrated a world wide famine."

[Long Duck Dong]

you do realize the FDA are saying eggs are expected to be 12 dollars per dozen come october right?

that's gonna be 7 to 8 times worse than the 2008 recession. That means milk will be between 12 to 14 bucks a gallon, you're looking at a box of mac n cheese for $8 bro

people don't understand what's about to hit, even with prices already creeping up and creeping up. We're literally about to go into an apocalypse and no one seems to get it because they're too damn stupid from sitting on their phones all day on instagram.

one of russia's ministers recently said, "biden and zelensky will be remembered as two presidents who orchestrated a world wide famine."

I hope for all our sakes you are wrong. People in this nation no longer have the fortitude to deal with crisis. Many will lay back and do nothing until they are literally starving. I sincerely doubt it would ever get to that but if it did, the Chinese will be watching a real life Dawn of the Dead like societal collapse of America on their TVs at night with utter fascination

[paksat]

I hope for all our sakes you are wrong. People in this nation no longer have the fortitude to deal with crisis. Many will lay back and do nothing until they are literally starving. I sincerely doubt it would ever get to that but if it did, the Chinese will be watching a real life Dawn of the Dead like societal collapse of America on their TVs at night with utter fascination

hope that they are wrong, not me. I'll be surprised if gets THAT bad THAT quick

but jpmorgan has already said they expect average gas prices to be $6 nationwide by august, at that rate it will be over $7 by October, so it kind of lines up with food prices.

I do stand by my comment about what's about to happen however. Eggs don't need to be $12 for a dozen for utter chaos to hit, if they are even $7 unless you're upper middle class you can't really feed a family. Rent has increased by 30% in just a year and a half here, I can't say that i'm not expecting things to get very bad quite soon.

[bladefd]

Recent numbers suggest that inflation is close to peaking. I know paksat probably does not want to hear that & prefers economy to be completely destroyed into superinflation for political reasons, but we shall see. I'm optimistic we will not see superinflation even if some buffoons would prefer to see it.

https://www.bloomberg.com/news/newsl...gns-of-peaking

[Shooter]

Recent numbers suggest that inflation is close to peaking. I know paksat probably does not want to hear that & prefers economy to be completely destroyed into superinflation for political reasons, but we shall see. I'm optimistic we will not see superinflation even if some buffoons would prefer to see it.

https://www.bloomberg.com/news/newsl...gns-of-peaking

We wont hit super inflation. We won't have a dozen eggs go for $12. We will be fine.

[ZenMaster]

New round of sanctions just announced to bump the oil price.

https://www.ft.com/content/acc55aee-...d-41fe661b0714

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https://www.ft.com/content/acc55aee-...d-41fe661b0714

The embargo will include oil and petroleum products but will exempt crude delivered by pipeline to Hungary, Slovakia and the Czech Republic, diplomats said.

The deal, which came at a late-night summit in Brussels on Monday, should pave the way for EU agreement on a heavily delayed sixth package of sanctions that also includes measures hitting Russian banks and further individuals.

Price of fertilizer is now more than quadrupled from two years ago. At some point the struggling farmers will either have to quit or raise prices.

[Off the Court]

Stock market went up this week on good inflation data.

If the rate goes down fast enough, the FED can loosen their grip again, recession can be avoided.

All signs are pointing to being past peak inflation, housing prices are actually starting to come down. I think we've maxed out prices on most things.

Not saying recession won't happen, just saying it is by no means a certainty.

[paksat]

Recent numbers suggest that inflation is close to peaking. I know paksat probably does not want to hear that & prefers economy to be completely destroyed into superinflation for political reasons, but we shall see. I'm optimistic we will not see superinflation even if some buffoons would prefer to see it.

https://www.bloomberg.com/news/newsl...gns-of-peaking

You've been staying positive since Biden became president, I'll give you that. But your positivity isn't leaking over into the real world