The Recessionista's must wait
- Thread starter Topspin
- Start date
Good Luck
New member
The current economic problems are many-fold. Much of it stems from several decades of deficit spending - and I am not talking about the federal government. Personal debt has been growing exponentially. That is not a sustainable economic trend, and WILL eventually come crashing down around our ears. If we are lucky, this is it. It would be lucky because the sooner it crashes, the better off we'll be in the long run. Holding it off more will only lead to a greater crash later.
But I do feel sorry for whomever is the next president. IMO it is unlikely they'll be able to pull our economy out of its current tail spin in four years. The housing market and sub-prime lending crisis are but two symptoms of a half century of credit spending on the part of individuals. Unlike when Reagan was able to successfully ask "Are you better off now than 4 years ago?", I believe the next four years are going to see economic crisis after economic crisis, rising unemployment and high inflation. And people tend to blame the current president for the state of the economy, even when that state is the result of one or more previous administrations in addition to the current one.
As such, I think the next president will not be elected for a second term.
But I do feel sorry for whomever is the next president. IMO it is unlikely they'll be able to pull our economy out of its current tail spin in four years. The housing market and sub-prime lending crisis are but two symptoms of a half century of credit spending on the part of individuals. Unlike when Reagan was able to successfully ask "Are you better off now than 4 years ago?", I believe the next four years are going to see economic crisis after economic crisis, rising unemployment and high inflation. And people tend to blame the current president for the state of the economy, even when that state is the result of one or more previous administrations in addition to the current one.
As such, I think the next president will not be elected for a second term.
Epicurus
Reasonable
Good Luck
New member
You don't pay enough attention to how assets vs debts are distributed. The number of people whose outstanding debts exceed their assets is growing rapidly. Nor do you pay any attention to the fact that one of the primary assets in that ratio is housing, and housing is in crisis and on the verge of deflation. In some areas housing already IS in deflation, with outstanding mortgages - especially second mortgages - being far in excess of the current value of the house.
And what the hell is LOFL?
I will check the shopping mall parking lot this evening to see if we have a recession or not
Probably not a good indicator usc, our Walmart parking lot was overflowing yesterday. Guess everyone was rushing in to get their quota of rice.
Good Luck
New member
The bottom 20% are doing shitty. The Middle 40% are doing bad. That's 60% who are not "chillin'" That pretty much describes a shitty economy.
And the chillin top 40 better start caring because it won't take a lot more decline for most of them to join the 60%.
uscitizen
Villified User
Probably not a good indicator usc, our Walmart parking lot was overflowing yesterday. Guess everyone was rushing in to get their quota of rice.
Yeah
Just a dig at topper. He thinks the economy is fine if the shopping malls look busy.
Wally world will survive.
Yup.
Good Luck
New member
yea, and when the democratic party gets the WH, plus a bigger majority of congress, what do you think they will do with your two full glasses?
Your responses really make me wonder: are you truly this ignorantly uncaring about the real status of the economy, or are you a brain dead troll?
Good Luck
New member
Yea, so the stats say when ignoring special circumstances and outliers.
And you just answered my question. You don't have any intent to add meaningfully to a discussion.
Good Luck
New member
What do you need? A letter from my last economics professor?
You are as bad as any blind political party partisan that ever existed. By your definition anyone who does not agree with you is not intelligent enough to understand the situation.
Of note is your dichotomy between two threads. You disdain cellulosic ethanol because it is not happening NOW. Then you ridicule the rice shortage because there is available land that can potgentially be developed sometime in the future. So which is it? Do we stand by economic conditions as they currently sit without regard to future potential, or do we ignore current situations because of future potential?
The problem is the claims you make are sheer unadulterated ignorance. I guess it would take a person of strong will to lower themselves to your level of self indulgent ignorance so you could sent each other admiring kisses. I do not plan to throw away my education to match your level of understanding.