Are we in a Recession?

Words I no longer understand:
Nazi
Assault Rifle
Protest
Riot
Woman
Vaccine
Pro-choice
Insurrection
Is

And.....recession

Its like we are in the roaring 20s here in the US. You know.... 1929

I bought my first house in 1978 for $27,000. Interest rate was 9.5%. Payments were $119.00 a month. Seemed like a lot of money for a monthly payment when you are making 6 bucks or so an hour. Interest rates are now low, but the price of houses are a lot higher. Seems kind of relative.

I like when an economist says that for their entire 50 years as an economist it was 2 negative quarters, but now magically it is not because that is what the White house is saying, and so many believe that...lol No...Joe says all is good, so we good!!

Americans are so god damn dumb we deserve what we get...

originally posted by: JAGStorm
All eyes are on the housing market. Many say it won’t be 2008 because mortgages are different.

This area is having reassessments, and owners are seeing 50% property tax increases.

Hope the folks who recently "paid $100,000 over asking!" (per the realtor commercials) have this factored into their budgets.

Wonder how many with paid-for homes and fixed incomes, are also going to have some tough choices.

originally posted by: whiteboyrick
I bought my first house in 1978 for $27,000. Interest rate was 9.5%. Payments were $119.00 a month. Seemed like a lot of money for a monthly payment when you are making 6 bucks or so an hour. Interest rates are now low, but the price of houses are a lot higher. Seems kind of relative.

How big was the house, what bells and whistles did you have? How much would a 1300 sqft 50s style house cost today, minus the land cost, to build with no AC, and all the other niceties that we have today that they didn't have back then.

originally posted by: Xtrozero
I like when an economist says that for their entire 50 years as an economist it was 2 negative quarters, but now magically it is not because that is what the White house is saying, and so many believe that...lol No...Joe says all is good, so we good!!

Americans are so god damn dumb we deserve what we get...

I mean they accepted Common Core, as well as bought into 2+2=5 and more than a few have decided they don’t know what a woman is and that actual men can have babies…/shrug

a reply to: visitedbythem

but i can't find them hot flappers with them nice gams?

a reply to: JAGStorm

Since Schumer gave Machin a back room hummer, he is now on board for the Build Back Broker plan, so what you see now, is just a prelude to what really makes you understand "recession", this is why they changed the definition. For our protection. that way when things totally tank, they can say "see, this is what a real recession looks like".

This was the last crack in the dyke, the dam is bursting. As Killer Beas likes to say, "save up!".

originally posted by: Xtrozero


Americans are so god damn dumb we deserve what we get...

Experimental injections?

a reply to: JAGStorm

Are we in a recession?

A yield curve inversion has preceded every recession since WWII. We were already in a decades old low point and this additional 75 basis points pushed us to a new low.

For those that don't know, a yield curve inversion is when the short term rates exceed the ten year rates. That means the two year cost of an investment is expected to be less than the ten year returns. It is a reflection of investor confidence in the economy, including institutional confidence.

This is also a reflection of something called the discount rate. A discount rate of 1 means you care only about this second with no thoughts of the future. A discount rate of 0 means you care about today as much as next week as much as ten years from now. Human beings have evolved to have a higher discount rate. We generally don't even acknowledge a problem until its staring us in the face. Peak oil is a perfect example. Its only when we can see the bottom of the barrel that people start to react and ultimately panic when they realize how close the end really is.

Recession is no different in terms of discount rate. Its a form of cognitive dissonance. Not acknowledging the problem until its at your doorstep, when its usually too late to do anything about it. We are raising interest rates to hold inflation in check but that almost always indicates coming recession due to the yield curve inversion.

originally posted by: JAGStorm

A GDP report will be released tomorrow to tell us if we are in a recession.

I don’t think we’ll need that, we all know. Rates were raised again today.
There is a chance we don’t meet the technical definition but I think we all feel it. RECESSION!

All eyes are on the housing market. Many say it won’t be 2008 because mortgages are different.
Others are saying get ready for a crash like you have never seen. Rents here are astronomical. I can’t even imagine
Being a renter right now. Who knows, every recession, depression is different but in the end the middle class is the one that
Hurts the most.

Prices are up everywhere, stores seem empty, there is less traffic on the roads.
I have friends that have lost good jobs and haven’t found replacements. They may have to take something outside of their field.

Do you feel it in your area yet?

The whole world is on the brink of one. It isn’t going to be pretty, they will make sure of that.

originally posted by: Notabot12345666

Experimental injections?

Your choice... If you are 25 and healthy maybe not, if you are high risk maybe you should look at all options in an already bad situation. Don't get fat and diabetic would be my first choice....

a reply to: [post=26604256]JAGStorm[/post

1 in 7 children in Japan live in poverty. For their parents its a DEPRESSION .

Yes we're in a recession and it gets worse because apparently Senator Manchin is agreeing to a new version of "The Inflation Reduction Act of 2022". It actually increases prices and the like 🤣

originally posted by: xuenchen
Yes we're in a recession and it gets worse because apparently Senator Manchin is agreeing to a new version of "The Inflation Reduction Act of 2022". It actually increases prices and the like 🤣

Has the DNC released Machin's family from the pool of sharks with laser beams yet?

originally posted by: Notabot12345666

originally posted by: Xtrozero


Americans are so god damn dumb we deserve what we get...

Experimental injections?

You win the internet today.

Your prize....A 5th booster shot.

originally posted by: whyamIhere

originally posted by: Notabot12345666

originally posted by: Xtrozero


Americans are so god damn dumb we deserve what we get...

Experimental injections?

You win the internet today.

Your prize....A 5th booster shot.

Don’t be ridiculous, we are only on number 4.

originally posted by: DBCowboy

originally posted by: xuenchen
Yes we're in a recession and it gets worse because apparently Senator Manchin is agreeing to a new version of "The Inflation Reduction Act of 2022". It actually increases prices and the like 🤣

Has the DNC released Machin's family from the pool of sharks with laser beams yet?

and, they removed the detonators from under his boat hull too 😎

a reply to: JAGStorm

Feeling it here in my part of Texas. My wife keeps the books and does the shopping. She's really quite frugal. Thank goodness because I'd run us into a hole in the strongest of economic times.

She can quote you prices now versus then versus before then. We're paying substantially more for less. She is feeling it big time trying to keep us in budget.

I'm feeling it in other ways. I'm making much more so far this year than I did last year, but we're struggling to meet our budget whereas last year we had a fair amount of "spending money".

It'll get worse, or it'll get better. God will provide either way, so I'm not worried.

...but yes, we are feeling it.