The Biden Recession Thread

[Sacrificial Lamb]

And by the looks of that and the credit card debt that continues to go up that would be most people. I always find it humorous that people are shocked that December 25 comes every year and complain they don’t have money for The holidays.

 

[oldngray]

And some of the interest rates they charge is absolutely ridiculous

Banks pay you almost nothing in interest but trap the weak with those sky high credit card rates. I don't pay attention to them since I pay off balance every month but I think it is somewhere around 16-25% interest if I don't.

 

[Thebrownblob]

View attachment 395677

And yet somehow you’ll be better off I think

 

[Sacrificial Lamb]

And yet somehow you’ll be better off I think

I’m not much of a negative nancy. Just thought it was funny. This is just another bump in the road of life. I know I’m taken care of, and something we must endure for the time being.

 

[Thebrownblob]

I’m not much of a negative nancy. Just thought it was funny. This is just another bump in the road of life. I know I’m taken care of, and something we must endure for the time being.

No I was just simply going by what we were talking about earlier even after I pay my house off I’ll pay taxes for life so I question what do I really own. Some of the things we’ve done for years has the younger generation questioning if the system is rigged and I can understand some of their concern.

 

[oldngray]

No I was just simply going by what we were talking about earlier even after I pay my house off I’ll pay taxes for life so I question what do I really own. Some of the things we’ve done for years has the younger generation questioning if the system is rigged and I can understand some of their concern.

Taxes suck but not too bad

... unless you are in a place like New Jersey. Rates are probably triple there vs what I have to pay.

 

[IVE GOTTA PACKAGE 4U]

Banks pay you almost nothing in interest but trap the weak with those sky high credit card rates. I don't pay attention to them since I pay off balance every month but I think it is somewhere around 16-25% interest if I don't.

The credit card interest can add up real fast

 

[Sacrificial Lamb]

No I was just simply going by what we were talking about earlier even after I pay my house off I’ll pay taxes for life so I question what do I really own. Some of the things we’ve done for years has the younger generation questioning if the system is rigged and I can understand some of their concern.

I was talking to a older gentleman in the hub who’s finishing paying his houses and he mentioned having to pay property taxes. I’m not looking forward to that at all. Seems counterintuitive.

 

[oldngray]

The credit card interest can add up real fast

Home equity loan (AKA 2nd mortgage) to pay off those credit cards. Lower rate and tax deductible.

Just learn from the experience and don't do it again.

 

[Sacrificial Lamb]

The credit card interest can add up real fast

I know times are hard and life happens, but most credit problems could be solved by having a little self-restraint. But credit can be fixed.

 

[IVE GOTTA PACKAGE 4U]

I know times are hard and life happens, but most credit problems could be solved by having a little self-restraint. But credit can be fixed.

Everyone runs into situation during your life, things just happen.

But sometimes you just got to be a penny pincher and put a little money away

 

[newfie]

You paint a pretty bleak picture. Lumber prices are back to near 2018 levels which will aid in bringing down house prices. Unfortunately everything that goes inside the house is still expensive.

especially those things that go in the frig

 

[Thebrownblob]

especially those things that go in the frig

I read somewhere that eggs are up 44%? Yikes

 

[over9five]

I read somewhere that eggs are up 44%? Yikes

That's more due to the Bird Flu. Millions of chickens had to be euthanized.
Wish someone would work on why everything else is so high...

 

[Thebrownblob]

That's more due to the Bird Flu. Millions of chickens had to be euthanized.
Wish someone would work on why everything else is so high...

Grocery Inflation Hits Highest Level In 43 Years Despite Biden's "Zero" Inflation Messaging | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[TearsInRain]

Just watching The Exchange during meal break and one analyst suggested because of the great jobs report, better than expected CPI and PPI numbers that the risk of a full blown recession is gone. These guys change directions more often than the wind. I think we are in for a full 12 months of uncertainty from here.

end of Q3 2022 - Q1 2023 is what all the insider eyes are on

Shmita ending, Fed rates running out of steam due to debt repayments, gas prices in europe, etc etc take your pick something big is going to happen one way or the other

 

[Up In Smoke]

end of Q3 2022 - Q1 2023 is what all the insider eyes are on

Shmita ending, Fed rates running out of steam due to debt repayments, gas prices in europe, etc etc take your pick something big is going to happen one way or the other

QT kicks in full steam in September. Let's see how the markets react to that and who's buying the bonds.

 

[Jiangshi]

Shmita ending

Care to expand on that?

 

[TearsInRain]

Care to expand on that?

 

[Wally]

Forecast for US Recession Within Year Hits 100% in Blow to Biden

A US recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms.

www.bloomberg.com