Posted on 06/21/2014 1:12:14 PM PDT by SeekAndFind
A worrisome word is popping up in discussions among some economists: Recession. As in, the next one.
Many Americans feel the recession that began at the end of 2007 never ended, but in technical terms, the economy has been growing since the middle of 2009. Until recently, it looked as if growth might finally hit “normal” levels of 3% or more later this year, as the housing recovery kicks in and employers finally start to hire more. But recent economic setbacks have fed new worries about tapped-out consumers falling even further behind.
“The danger has increased the U.S. economy could pivot from healthier growth to close to recession in the next 6 to 18 months,” Bernard Baumohl of the Economic Outlook Group warned clients recently.
(Excerpt) Read more at finance.yahoo.com ...
I hear the ads about our supposed economic recovery to no end but I see slow death in a lot of storefronts. My facility is having some manufacturing lines shut down until further notice. A lot of people are concerned.
-— I tell this to people around me. They scoff -—
Anyone who has been laid off in the last five years knows how bad the job market is. I was laid off twice.
Core inflation is only concerned with thumb drives. With some salt they taste like chicken.
No, not Recession...I think it is Depression...or worse...
“After taxes, the 9 hours might pay for a tank of gas, plus a few candy bars.”
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MAYBE a tank of gas if they have a car with a small tank, in this area a job that is not very close to your home is likely to not be worth taking.
Let’s tell it like it really is. I just turned 70, when I was 23 people thought me strange because I was still single. The norm for young men who did not go to college (which was most of them) was to finish high school, go to work and be married with at least one child by 23. It was possible to do that then and be paying taxes rather than expecting the taxpayers to support your kids. Now anyone who tries to do that is out of his mind.
Yep...2 classes of people-—the rich..(and also this includes the “totally taken care of “ too). .and the” slaves”
Just like most fascist shitholes..
“All part of the big plan”...
First written about in the early 1960’s....coming to PASS now.
Recovery Summer 6.0
Sixth version to have trouble booting up.
I realized long ago that the real standard of living for working people peaked around 1970 or shortly after. Some of my reasons for believing that are as follows.
One fast food lunch for two now costs in nominal terms more than what would have bought a week’s worth of groceries for a family of six in the fifties. One month of my electric bill is equal to about three years of my parents’ electric bill in the fifties. The SALES TAX on many things is now equal to or greater in nominal terms than the item PLUS sales tax cost in the fifties. If I had just my current social security income and 1950 prices my wife and I could buy a NEW Ford sedan every two months, BURN the two month old one and still have plenty of money to live very well. No I am not drunk, I am cold sober. One year of that social security income is equal to what would have bought a nice farm with a fine house, outbuildings, some livestock and equipment in South Carolina in the fifties. A new top of the line Jeep Wrangler now costs what used to be the projected lifetime earnings of a high school graduate when my father was young. A watermelon in the grocery store costs ten times what it did then if not more and is from one tenth to one fourth the size of what one used to be. Today’s watermelon costs well over what I spent for a huge seafood platter for TWO in a restaurant in the late SIXTIES. I am speaking of a platter the likes of which I could not possibly eat in two sittings now. That price also included all the iced tea you could drink and the sales tax was THREE per cent.
I can go on and on but I am about to scream just thinking about it.
Obviously inflation is too low, at least that is what your government wants you to believe.
Like the WIzard on the wizard of Oz....
Your examples are sobering. The one I always use, silly as it might be, is a comic book. When I was a kid in the 1970s, they were 25 cents. I watched the cover prices tick upwards as I got older...$1.00 in the 1990s was a benchmark, and by the time I left them behind some years back they were nearing $3. From what I understand now they range between $3 and $4.
What has changed? It is still fifteen or sixteen pieces of paper stapled together. There is no added value. The real answer is a devaluation of the currency used to buy it...by over 90%.
The only reason this really doesn’t hurt a lot of people is the government printing press, which is charging EBT cards and funding unemployment and disability checks. When that music stops, Katy bar the door.
I wish I had been born about twenty years earlier.
the recession never really went away
Every time I have been to the mall in the last several years when you get away from the food court it is a ghost town. Very few shoppers. I wonder how they are still in business...
Not to mention the other realities we will soon be facing- millions of NEWLY arrived illegals, a world war...I see it coming and most do not. You are right, I bet it will be so bad those of us that expect it and have tried to prepare ourselves will still have a rude awakening as to how bad it really gets. Those that do not have a clue it is coming- I cannot imagine the shock they will get.
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