What’s that quote from night at a museum? It’s:” you’re a dum dum” isn’t it?

Lockdowns brought to you by???????????????????

Bunch of news sources saying a bunch of people are going to starve later this year because of prices and supply chain issues.

Hide ya wife hide ya kids

'what negative impacts have you had in your life indicating we are in a recession'


Names numerous very large impacts in my life

'thats inflation not a recession'


Just fucking lol.

The fed raised rates to cool the economy to combat inflation. This is literally how it works, if you don't like inflation, the number one way the government deals with it is to slow economic growth. This is what you learn on like, day 3 of economics 101.

Just fucking lol.

The US fracking boom is what drove global gas prices down from 2014 until 2020. The anti-fossil policies of the Biden admin are one of the major reasons why the industry isn't ramping up again (from the covid-induced collapse) like we would normally expect it to, based on the soaring commodity prices.

The world is thirsting for oil and natural gas while Russia has zero incentive to pump more, the Saudis, Norwegians and Dutch are already at capacity and Iran and Venezuela have a completely run-down infrastructure. Therefore, the only major producer of oil and natural gas that could alleviate the global energy crunch is the United States... but it doesn't, because its political leadership has missed no chance to signal its hostility to the fossil industry, strangle it with red tape and create artificial political risk which makes funding all but impossible.

2% is the fed's target interest rate over the long run. The feds cranked interest rates all the way down to 0% in order to artificially stimulate the economy during the pandemic. They are slowing the economy as we are in a recession by bringing it back to nominal rates. What we're seeing is the culmination of decades of federal mismanagement, whether gross negligence or malicious market engineering, which left our government with all the methods to save us from a recession already capped out before the recession hit in earnest. They can't stimulate job growth or consumer spending to jump start the economy and foster real growth, unemployment is already near-zero. They can't drop interest rates to 0% again to artificially stimulate growth, because inflation is already running out of control and the rates have been at 0% already. And they can't print money to bring inflation under control because printing money is what created inflation in the first place, but damned if they aren't going to try exactly that, hence the Democrat's latest economic package to print $739 billion in spending under an orwellian double-speak name of the Inflation Reduction Act, which not only will exacerbate the money oversupply crisis but again spends all kinds of money on bringing up energy costs that contribute to inflation. More electric vehicle credits and green subsidies, more taxes on fossil fuels and corporations. Which makes the bill a double-barreled hit to Americans already struggling under inflation.

So on one hand we've got a fed board that's spouting an almost comical level of denialism about the economic crisis we're in, still insisting its transitory even after that word made them a laughingstock, a fed board that has now expended all their tools to combat a recession. On the other hand we've got congress trying to make the underlying issues even worse in dramatic fashion, like firemen showing up to spray a hose of gasoline on a fire.

And that's what makes this recession far more dangerous than anything under Jimmy Carter or the 2008 financial crisis. We're taking a full plunge, and that's on top of like 50 other national crises going off the rails

This post was edited by Goomshill on Jul 31 2022 05:36pm

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Salient points: 0

Didn't read most of the thread.

I long believed we're heading for tougher times, even prior to the pandemic. You don't have to be Nostradamus to deduce that after years of shit-tier policies in which we spend and constantly run deficits and take on more debt then it will somehow be a net positive in the long term.

I'm not as pessimistic though tbh. The reason is because from a relative standpoint we're actually not that bad. Yeah, our lower and middle classes will get squeezed for sure, and it's already noticeable but its nothing compared to the rest of the world. The people who will really feel the pain are the 2-dollar a day people. Africa, Asia, South America even Europe look awful compared to us IMO.

Here we might have to spend a little more of our disposable income on food or maybe say no to a vacation or maybe switch to generic brands while in some of those places the situation is a lot more dire. The dollar has inflated massively because there's been a flight to safety and pretty much the whole world sees us as the safe-haven. I seen a statistic where it said something like that Europe has seen 28 consecutive weeks of money outflows (from their markets). Japan and China have their own internal behemoth issues.