Coming soon: Biden’s full-blown recession

This topic has 11 replies, 7 voices, and was last updated 1 year, 8 months ago by Legatus_Legionis.

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October 13, 2021 at 8:51 am #244173
Legatus_Legionis
Coming soon: Biden’s full-blown recession

Three main issues likely will plunge the country into economic backsliding and spark stagflation by the end of 2022: inflation, supply chain issues, and an unraveling labor market.

Americans have noticed increasing prices everywhere from the gas pump to grocery store aisles. Inflation has hit a 30-year high.

What else?

Reckless federal spending and money printing are only accelerating inflation. The last year and a half’s policies are effectively “baked in” to what is coming next. However, passing Biden’s $3.5 trillion infrastructure package would have a sapping effect on the economy.

They talk only what it will bring, and not the bigger what it will take away/cause.

The fear of a default or unconventional workarounds, such as a trillion-dollar coin, will stifle investment and lead to increasing bank interest rates to mitigate risk. Politicians could plunge the country into a deep recession wholly of their own making – and the consequences will be felt primarily by American families and small businesses.

Could? If the dems get their way, it is almost certain to be.

Store shelves in many cities are partially bare, bringing up the bad memories of March and April of 2020. Manufactured goods and raw materials of all types are becoming increasingly rare. This time it’s not driven by demand issues, such as panic buying (yet), but instead by those of supply. In short, the economy is rapidly running out of goods. The disruptions in our workforce is limiting the number of dockworkers, truck drivers, and more essential jobs necessary to keep goods flowing at a rapid rate and reasonable price. The average family can expect to pay much higher prices for everyday essentials, have significantly less inventory selection at grocery and big box stores, and face months-long shipping delays when ordering online.

On-line or in stores. Yet they only blame it on on-line shopping.

Perhaps the largest factor sparking economic atrophy is the misguided employment policies of the Biden administration.

Yay, “The buck stops with me”… unless I can blames everyone else including the previous admin, and always the previous admin.

… the “Build Back Better” agenda includes a raft of welfare provisions that will either make more Americans more dependent on the government or drive up prices (or likely both).

Take out the marxist/communist/socialist BS…

Eventually, the house of cards built through sweeping tax hikes, paying people not to work, rampant money printing, and borrowing will lead the nation to a 1789 moment – not the start of our republic, but the debt and economic crisis that led to the French Revolution.

Some people have already been warning people of this possible outcome.

Including polls that show BOTH side of the political ideologies believing a break up of the USA is gonna happen.
October 13, 2021 at 9:13 am #244180
DigiCat
Moderator
Americans have noticed increasing prices everywhere from the gas pump to grocery store aisles

Not only in America 💸💸💸💸💸
October 13, 2021 at 9:14 am #244181
Audie
Biden (and other Dem leaders): Companies are having a hard time finding employees, so I’m going to create a Covid policy that makes them fire employees simply because those employees won’t get the vax. I’m sure that will help things, right, Brandon? I mean, hospitals are now no longer understaffed, right? And the airlines, everything’s right on schedules, isn’t it? Hey, why doesn’t the store carry more bags of Skittles? What do you mean, they’re stuck in the middle of the ocean!
August 11, 2022 at 4:51 pm #278534
Legatus_Legionis
Well, the US is officially in a recession.

Two quarters of negative GDP.

The WH, the legacy media, can lie all they want, talk BS on how they “changed” the definition, but the facts are clear.

The US IS in a recession.

PERIOD! FACT!

And the fact Biden is claiming ZERO PERCENT inflation is laughable.

Oh look, last month year-over-year was 8.5%

This month’s reported inflation of 8.5%

So, the net change 8.5-8.5 is ZERO!

See, the math works.

This is how this admin works. With lies and misinformation.
August 12, 2022 at 2:23 am #278583
Vknid
Moderator
The most sad and absolute scariest thing is that I do not think any of the bad going on right now is due to incompetence. If it was simply incompetence we could hope for some injection of positivity and have hope. But the thought that it’s all going according to plan leaves one pretty depressed.

The real problem is not Biden. In fact Biden and Kamala are nothing but figureheads. It is the entire apparatus around them. And that is not exclusive to party.
August 12, 2022 at 8:46 am #278592
Wisdom
I’m not convinced there will be a real recession. The main reason is the job market. Unemployment remains low. Unless that collapses, I don’t see a real recession hitting. Yes, some domestic spending will see reduction, but it won’t hit the essential industries. I don’t even think useless occupations like dog groomers or nail salons will take a hit (in fact you see more of those sprouting everywhere). The economy will also be kept going by mass immigration.

The strong dollar also feathers some of the negative impact of the economy, allowing for cheaper imports. And finally, the US will be exporting more natural ressources to Europe, who are no longer allowed to buy from Russia.

Europe will get hit by a recession for sure. The US… I don’t see it. The US was never reliant on Russian natural resources or products.
The only things that would plunge the US into a recession now would be a major tax or interest rate hike, or an economic war with China.

Normally this would be a good time to buy some stock. However, we don’t know if the China situation will escalate. If it does, even blue chips and tech stocks will take a beating they won’t recover from anytime soon.

A breaking up of the USA… everyone (with a brain) wants it. Both on the left and the right. But the ruling class will never allow it. Why rule only half when you can rule it all and the world?
- This reply was modified 1 year, 8 months ago by Wisdom.
August 12, 2022 at 9:44 am #278595
Legatus_Legionis
The only things that would plunge the US into a recession now would be a major tax or interest rate hike

The us already in a recession ( two consecutive quarters of negative growth – negative NDP)

Inflation reduction act will increase taxes, increase inflation, increase the deficit, cause interest rate hikes to combat the inflation it will cause, and create 87K new IRA agents to go after us citizens. Creating an even BIGGER government – more bureaucracy.
August 12, 2022 at 10:16 am #278601
Mustangride1
Moderator
Anyone who uses the “Governments” definition of a recession is a fool, when trying to figure out if we are in one or not.

You want to know if you are in one. Pull out YOUR bank statements. Simply then look and see if you are spending more for items over 2 quarters. If you are then YOU and I will say the NATION is in a recession. If your family is not increased in its income to keep up with the cost of living you are in a recession. And NO ONE has had 20% plus pay raises in the last 20 months. We have been in a recession in truth since the day Biden took over, Actually started the day it was announced he won. That is a verifiable fact by simply looking at when gas prices started their increase, as Gas increases, everything increases.

Even with prices dipping a little right now, it is still not showing up in other retail location, certainly not in the grocery store. Nor do I see that happening as we go back in to the school session and Holiday Season. Milk for instance was still sitting at $6.00 a gallon yesterday pre-biden it was $2.74 a gallon.
August 12, 2022 at 1:15 pm #278623
Wisdom
It’s probably technically a recession, but I wonder how much of that is feathered by the rising dollar.
So yes, on paper we have negative GPD growth, but the dollar is up over 10%. So in total, there may be less dollars, but those dollars are worth more than they were. If you have 5% less dollars, but those dollars are worth 10% more, then that’s not a real recession, even if it is one on paper.

On the flip side, it means that inflation is actually worse. Gas went up from 2.50 to 6 dollars, but those dollars are worth 10% more.

The inflation is very real. And things will likely get worse.
August 12, 2022 at 1:48 pm #278625
Legatus_Legionis
Inflation is real – correct.

Technically (and realistically and is a REAL) a recession – correct.

Can we find people/media who will twist words/meanings for their narrative/agenda – absolutely!

So what about the value of the green back in international markets, when inflation far exceeds wage growth, people have less money to spend around the economy.

So what it is cost an importer 5% less, when you then add domestic transportation costs, labour & fuel, warehousing/wholesale costs, retail costs… you get 8.5% inflation of the cost of goods year-over-year.

But in the last few weeks (as the demand for petroleum naturally goes down) the price of gas fell.

Almost two months after gas prices hit an all-time high of $5.02 nationwide, they have fallen to under $4 for the first time since March.

When we see that in April 2020 the price was $1.938USD and August 2021 it was $3.255USD

So it IS a real recession.
August 12, 2022 at 6:11 pm #278653
DarthVengeant
Premium
Well, I don’t enjoy eating what I used to eat anymore. Everything I ate 2yrs ago, is now a dollar more, or more. The Ramen I used to buy, is a dollar more. I am NOT paying 5-6 fucking dollars for a BOX OF CEREAL. Ya, that’s how much a freakin box of cereal is now. It cost 5-7 dollars for JUST the burger at Carks Jr. So, I don’t eat out much anymore. I am NOT paying these prices. Yes, I can afford it, but it feels wrong paying that much for stuff. I feel like I am supporting lunacy if I buy stuff for these prices. It is utter and complete nonsense. People need to stop giving money away. A bunch of lunatic running and supporting our country causing this horse shit.
August 12, 2022 at 8:45 pm #278668
Legatus_Legionis
People need to stop giving money away

Those the the politicians hoping that by given us back some of our money (tax dollars) we would be happy (ignore that BS they did) and vote them back into office.

And those that did not pay taxes, free anything is free to them, so gimme gimme gimme “entitlement”.

So this printing of money as part of the Inflation Reduction (will actually increase inflation) Act.

Once again, give it a name to misdirect from what it actually does (and hiding things you wont know till it is being enforced).

And yay, between the issues with logistics (getting products to the stores) and inflation on the end price of the items, those items I can wait on I wait till they are on sale.

I had cut my cable a long time ago, don’t do pay-per-view/subscription services, and plan on doing several stops when I need to drive anywhere.
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