Medsupp market collapsing all around

[vic120]

We haven’t had a real Recession since 2008-2009. .

WOW

I largely don't get into politics anymore, I'm certainly not going to get into the rest of what you said

But this?

I never seen people effected by the economy in my Life as much as I do today

Literally everyone is feeling the effects in everything they do from the grocery store to the gas pump

Most are over budget right not groceries are outrageous, even a simple fast food meal for a family is as much as a small restaurant used to be

I did not see this much effect in 2008 or 09 not even close

and not only that it has been ongoing for several years now and does not look like it will turn around any time soon , but should by necessity get worse before it gets better

 

[DonP]

WOW

I largely don't get into politics anymore, Im certainly not going to get into the reast of what you said

But this?

I never seen people effected by the economy in my Life as much as I do today

Literally everyone is feeling the effects in everything they do from the grocery store to the gas pump

Most are over budget right not groceries are outrageous, even a simple fast food meal for a family is as much as a small restaurant used to be

I did not see this much effect in 2008 or 09 not even close

and not only that it has been ongoing for several years now and does not look like it will turn around any time soon , but should by necessity get worse before it gets better

Weres the recession ? The economy booming . Unemployment near all time lows . Stock prices up 22% last 7 months and recently hit all time highs .House prices all time highs . People’s equity in homes at all time highs . The wealth effect is causing people to spend big money as they feel rich. Yes inflation hurting many people but they sure as hell are spending money like water . Airplane passengers at all time highs . Travel industry booming at all time highs . A massive recession is the only thing that will stop inflation

 

[vic120]

Weres the recession ? The economy booming . Unemployment near all time lows . Stock prices up 22% last 7 months and recently hit all time highs . Yes inflation hurting many people but they sure as hell are spending money like water . Airplane passengers at all time highs . Travel industry booming at all time highs . A massive recession is the only thing that will stop inflation

That is not what I am seeing most are stretching the dollar to put food on the table
I have seen that for several years now
I talk to many people

I also turn o the news and see many TV station want to claim the economy is better then ever and everyone is doing great

Honestly even for myself and my family, just fast food is insane, Went to Freddie's was nearly $50 for a family of 4 without Meals, just burgers and one fries,

I mean if it were years ago and I relied ion FF for lunch, working for a wage when working for a company, I would not imagine paying $15 a day

The math does not lie.. its right there

But you can turn on the news and hear what you want

 

[sman]

Weres the recession ? The economy booming . Unemployment near all time lows . Stock prices up 22% last 7 months and recently hit all time highs .House prices all time highs . People’s equity in homes at all time highs . The wealth effect is causing people to spend big money as they feel rich. Yes inflation hurting many people but they sure as hell are spending money like water . Airplane passengers at all time highs . Travel industry booming at all time highs . A massive recession is the only thing that will stop inflation

While we aren't in a recession based on the technical definition (two consecutive quarters of decline in GDP), individual consumers are struggling. Personal debt is high, delinquencies are moving higher and much of the job growth has been part-time jobs. Look at all the companies announcing lay-offs. And the stock market is a poor measurement for the overall health of the economy.

And I agree, a recession is the only way we stop inflation. Government spending is out of hand and only making matters worse.

 

[DonP]

That is not what I am seeing most are stretching the dollar to put food on the table
I have seen that for several years now
I talk to many people

I also turn o the news and see many TV station want to claim the economy is better then ever and everyone is doing great

Honestly even for myself and my family, just fast food is insane, Went to Freddie's was nearly $50 for a family of 4 without Meals, just burgers and one fries,

I mean if it were years ago and I relied ion FF for lunch, working for a wage when working for a company, I would not imagine paying $15 a day

The math does not lie.. its right there

But you can turn on the news and hear what you want

I’m not saying everything’s not more expensive . But everywhere i go things still packed . This is not on believing what the news says . This is me seeing everywhere packed i go . I went skiing 3 times the past yr . Left tickets $400 a day. A sandwich $20. Every place was packed

 

[sman]

I’m not saying everything’s not more expensive . But everywhere i go things still packed . This is not on believing what the news says . This is me seeing everywhere packed i go . I went skiing 3 times the past yr . Left tickets $400 a day. A sandwich $20. Every place was packed

Well that proves it then. People who go skiing tend to have above average incomes. These people have less problems dealing with the increase in costs. We'll just ignore credit card debt increasing, delinquencies on credit cards, car loans and mortgages increasing. Rents getting increasingly higher. The cost of purchasing a home getting out of reach for the average person. But go on, tell me how every place is packed and people aren't struggling.

 

[DonP]

Well that proves it then. People who go skiing tend to have above average incomes. These people have less problems dealing with the increase in costs. We'll just ignore credit card debt increasing, delinquencies on credit cards, car loans and mortgages increasing. Rents getting increasingly higher. The cost of purchasing a home getting out of reach for the average person. But go on, tell me how every place is packed and people aren't struggling.

I understand all your saying . But the sky’s been falling on credit card debt,Commercial real estate defaults ,Mass inflation the last 3 yrs . But guess what i see no for sale signs of homes,no defaults , credit card CO’s and banks loss ratios still not bad . I work in the hollows and swallows of society every day . But the peeps can still buy their cigarettes and beer . Like i said and you agree we need a severe recession to stop inflation . There’s no we can fix this and nobody gets hurt . Unfortunately there must be severe pain to retrench demand big to reverse inflation

 

[Millwood]

Weres the recession ? The economy booming . Unemployment near all time lows . Stock prices up 22% last 7 months and recently hit all time highs .House prices all time highs . People’s equity in homes at all time highs . The wealth effect is causing people to spend big money as they feel rich. Yes inflation hurting many people but they sure as hell are spending money like water . Airplane passengers at all time highs . Travel industry booming at all time highs . A massive recession is the only thing that will stop inflation

 

[wehotex]

Inflation starting had nothing to do with Biden . Covid started all this and its worldwide now.Go back and read economic books for the last 100 yrs . The biggest fear any country to has is if the inflation genie is let out of the bottle . It’s so hard to put it back . Example you’re a painter and you go grocery shopping . The can of soup that was $2 is $3 this yr . Everything your buying prices up 20-50% . What’s the first thing you do? The next paint job you bid $5k last yr you now bid $7k to account for how much more you’re spending on everything . It becomes an Unstoppable vicious spiral of everyone raising prices time after to time trying to keep up with how much money they spend to live . It’s a self destructive cycle . The only way to stop this is to have a crushing recession were demand collapses . Once that happens prices will tank . Economy’s have cycles to to reset the bar and crush demand . We haven’t had a real Recession since 2008-2009. Covid was 3-4 months down har then massive stimulus made demand sky again .

I’m not saying everything’s not more expensive . But everywhere i go things still packed . This is not on believing what the news says . This is me seeing everywhere packed i go . I went skiing 3 times the past yr . Left tickets $400 a day. A sandwich $20. Every place was packed

It is the top 10% population of the country that is spending the $$. That segment (which includes a lot of boomers) has profited off a bonkers stove market and real estate market that do not measure the true economy.
It is the same rationale that the stock market and real estate kept increasing amid all of the bad daily economic news in the media after COVID, everyone has already run out of stim money, blah blah. COVID has instilled in the public that “you can’t take it with you”, so spend your riches.
Fed sets the policy and Congress foolishly spends our money. Neither Doofus in the WH has much to do with it.
We had 8 years of W and 3 1/2 years of Biden- both worthless and yet the country survived.

 

[Millwood]

Roaring 20's again?
There is no in-between.
You're either doing really well or you aren't.
Only this time the working middle class is getting annilated. No social programs for them. And they pay the vast majority of the countries taxes.