Happy Daze!
Posted on 02/18/2024 2:39:51 PM PST by Roman_War_Criminal
They were able to delay the U.S. economy’s day of reckoning, but they were not able to put it off indefinitely. During the pandemic, the Federal Reserve pumped trillions of dollars into the financial system and our politicians borrowed and spent trillions of dollars that we did not have. All of that money caused quite a bit of inflation, but it also created a “sugar rush” for the economy. In other words, economic conditions were substantially better than they would have been otherwise. Unfortunately, there will be a great price to be paid for such short-term thinking. From the federal government on down, our entire society is absolutely drowning in debt, and now it appears that our economic problems are about to go to the next level.
In early 2024, there are all sorts of signs that economic activity in the U.S. is really starting to slow down.
For example, we just learned that consumer spending “fell sharply” during the month of January…
Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday.
Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a drop of 0.3%, in part to make up for seasonal distortions that probably boosted December’s number.
(Excerpt) Read more at theeconomiccollapseblog.com ...
Don’t worry, we’ll just print some more $$$
Everything will be cool
Would something called The Economic Collapse Blog say anything different?
It has been around since Dec 24 2009 - it will be correct at some point.
Since the third world has invaded the first and turning the first into the third minute by minute a bit of rampant runaway inflation will make our “guests” feel right at home no?
That’s to be expected but I was a bit surprised that, aside from saying “From the federal government on down, our entire society is absolutely drowning in debt” they didn’t provide more amplifying data about it. Our debt is snowballing and relatively high interest rates are making the problem worse.
bfl
Economics is called the dismal science for good reason. Economists have predicted 11 of the past 3 recessions.
Overtime used to be normal with my company. We are now being told to keep our time to strictly 40 hours a week.
“Since the third world has invaded...”
************
We are also doing our best to replicate a banana republic environment for them.
Meet the new government, same as the old one you left behind.
Happy Daze!
I remember Y2K. That was some good doom and gloom.
We were supposed to be eating our neighbors at this point.
;-)
Is that a pile of turds onnthat bill. Seems apropos
With the exception of 2000 and 2008 which each have their own sorid stories the market has generally been in positive territory for presidential election years in recent times.
Of course anything can happen with the market. Better to invest in diversified funds over decades.
Just don’t let it happen after the Dems win the House, Senate and Presidency in November, 2024.
I want people grumpy and pessimistic about the Dems in November.
Not “Did you see? Gas is down three cents from last week.”
“They said on the internet news on my phone that the GOP is going to get wiped out.”
Too bad they didn't start the blog a year earlier they could have caught the "GFC" of 2008! 😉
My comment on this—young folks should think long term and not worry about anything.
Older folks should be more cautious—especially if they have what they need and will be fine preserving what they have.
When you only look at government numbers (e.g., BLS, FED, etc.) you are already at least a year behind the real event. Anyone dealing with numbers from Biden needs to spend a few hours at the grocery store every week. [and track utility bills, taxes, fees, gas, etc.]
Oh what the hell. Bring it on.
Michael Snyder has elevated the situation to “Staggering Proportions”. We’re all in trouble now.
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