Go | New | Find | Notify | Tools | Reply | |
Fire begets Fire |
Was listening to Steven Moore this morning and agree with him that we are now clearly in the recession. Lots of economic data in the last six weeks including the producers index, mortgage interest rates, escalating fuel prices, shrinkflation and importantly, a $10 trillion loss in the equities markets. One, do you think recession (negative growth) has arrived? And two, are you changing anything substantially in your life to a deal with it?This message has been edited. Last edited by: SIGnified, "Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein | ||
|
Member |
A recession means the regime will try even harder to spin the facts to their advantage and likely throw more printed money at problems rather than address a single root cause. I'm not doing anything differently. While I'm not happy about the price hikes, I can afford them, so nothing about my life changes. I try not to dwell too much on the sad state of our country now. I knew it would come, just thought it'd be in my twilight years, not my prime earning years. All empires eventually fall. | |||
|
| Green grass and high tides  |
Not yet, but soon. And it will be evident and significant. I think we are on the verge of a major economic event. "Practice like you want to play in the game" | |||
|
| Member |
Yes. Will cut spending and work more. Forgo large purchases. Same as before. Only way to bring down inflation. | |||
|
Spinnin' Chain |
Why aren't governments affected by recessions? | |||
|
| Member |
Our president has stated very clearly that the US economy is now better and stronger than it has ever been. That settles the matter, right? Seriously, we are retired, debt-free, and pretty well off financially. It aches to see our investment portfolios losing substantial equity, but in reality the current balances are about what they were 2-3 years ago. What we have lost (so far) is probably no more than the inflated values created by massive inflation. No changes right now. We have ridden out several cycles of market decline and always seen these things resolve themselves within a few years. If anything, I would consider this a time to invest in good performing stocks in anticipation of a future correction. But it is also a time when it is smart to remain cash-strong as much as possible. Hoping that the mid-term elections in November will strip the current ruling party of their control and more responsible forces will unwind the destructive policies and programs that have caused the current mess. On a happy note, I am benefiting physically. I know that 50 years ago there was no way I could carry $50 worth of groceries, but now I can do it with only one hand! Retired holster maker. Retired police chief. Formerly Sergeant, US Army Airborne Infantry, Pathfinders | |||
|
| Get my pies outta the oven!  |
Frankly, I’m just not seeing it around here yet. People are out at the stores and restaurants, it seems like it’s as busy as ever, maybe more right now. Are people living on credit? We started examining our entire budget top to bottom and looking for ways to cut back, so far we’ve managed to save about $100 a month by ditching Comcast and going with fiber Internet and streaming TV. We also agreed that we will not be going out to eat/getting takeout as much which was maybe once maybe twice a week. Maybe more like 1-2 a month. Food prices have gotten ridiculous. | |||
|
Unflappable Enginerd |
Yes. https://www.lendingtree.com/cr...ard-debt-statistics/ __________________________________ NRA Benefactor I lost all my weapons in a boating, umm, accident. http://www.aufamily.com/forums/ | |||
|
Member |
To paraphrase and adapt a Ronald Reagan quote: A recession is when your neighbor loses his job. A depression is when you lose your job. Recovery is when Joe Biden loses his job. _____________________ Be careful what you tolerate. You are teaching people how to treat you. | |||
|
Member |
"Bulls go up the stairs, bears go out the window". These next few months will define the "recession". Massive un-retirement and demand destruction. I can't print my own money so I remain a cheap ass living below my means. | |||
|
His Royal Hiney |
I'm not so worried about a recession personally as I am about stagflation. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
|
| Member |
One finger _________________________ "Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it." Mark Twain | |||
|
Washing machine whisperer |
Recession, repression, it's all the same man.  __________________________ Writing the next chapter that I've been looking forward to. | |||
|
blame canada |
1: Yes. It's here. 2: sort of, been positioning change for several years knowing this was coming. ~~~~~~~~~~~~~~~~~~~~~~~~~ "The trouble with our Liberal friends...is not that they're ignorant, it's just that they know so much that isn't so." Ronald Reagan, 1964 ~~~~~~~~~~~~~~~~~~~~~~~~~~ "Arguing with some people is like playing chess with a pigeon. It doesn't matter how good I am at chess, the pigeon will just take a shit on the board, strut around knocking over all the pieces and act like it won.. and in some cases it will insult you at the same time." DevlDogs55, 2014  ~~~~~~~~~~~~~~~~~~~~~~~~~~ www.rikrlandvs.com | |||
|
Member |
If not here already I believe it is inevitable. Moslty cutting back on going out to eat, it has just got so expensive like a couple burgers, fries, sodas, and tip around $50 at most sit down places. We do get a pizza from Lou Malnatis maybe once a week though as price has gone up just a bit and pizza is usually two meals for us but don't get their salad anymore which went up to $10. We are going to Gatlinburg in August and rented a cabin. We plan on going out to eat at the most once a day and will prepare the rest of our meals in the cabin. Thank the Lord we decided not to go to Yellowstone this year and stay closer to home instead. Wife has been taking sandwiches to work too instead of eating in the cafeteria which also saves her time. I can make a hell of a nice corned beef sandwhich for about $4. Good news is a new Range USA is opening locally which means a trip to the range will be 3 miles instead of 15 to save on gas and with their basic range membership package I will be able to go to the range a lot more for about the same price as a single visit to the old place. Shooting a lot more 22 LR also these days. | |||
|
| Fire begets Fire |
We’ve been in stagflation since the first quarter of 2022… It’s already here. "Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein | |||
|
| No More Mr. Nice Guy |
Yes and sort of. Yes, we've been seeing negative growth for many months now. Recession is not the same as inflation, and we've been seeing both. The media is trying to prop up the Dems into the midterms, so they are avoiding negative stories. Had this happened under an R President and Congress it would be the opposite. We are tightening our belts a little bit with the luxuries. We used to eat one really nice meal per week, either a premium steak or fresh sea food. Now we're doing home made chicken enchiladas or pizza. We also don't go out to restaurants much at all. The wife is buying much less in the way of doodads for the house. I'm not buying more guitars or guns, but I have enough. We are considering selling one of the 2 cars. We have discussed the option of selling the house to downsize, to get ahead of any decline in value, but we are choosing to ride it out in a place we love. Being retired, as long as we don't have a literal apocalypse we will be ok since we have no worries about job location. | |||
|
| Member |
Let's hope the folks in DC stay away from Price Controls. | |||
|
| His Royal Hiney |
If you think Q1 was stagflation, you haven't seen nothing yet. We'll need to see the government admit high unemployment rates even with the current metrics of unemployment. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
|
Ammoholic |
Recession? Not worried about that, I can't be laid off from my job. I'm way more worried about inflation, energy crisis, and national debt. The combination of a retraction in the economy and inflation is going to lower everyone's ability to buy things. Salary raise this year of 6% (which included a promotion), inflation at 8.5%. I lost 2.5% of my pay this year. Jesse Sic Semper Tyrannis | |||
|
| Powered by Social Strata | Page 1 2 3 4 |
 | Please Wait. Your request is being processed... |
|
© SIGforum 2024