Either that, or we finally got some competent people and gave them a few years to work on the problems. One or the other.
Competent on which side? Oil is almost in the 60 range with many predicting 100 for the winter. OPEC boosting those prices have fallen short and they weren't even thinking the worlds economy would slow down this quick. 2020 print money and give it to everyone. 2021 print more money and give it to everyone, 2022 print more money and give it to industries and well as 2023. 34 trillion in debt with an interest payment of 900 Billion. You can't keep a deficit at 2 trillion a year and expect nothing bad to happen. Is the economy doing ok right now. Maybe. Depends on ones outlook. Groceries haven't come down. Energy prices have not.
Ah yes... IM sure most of us can relate to this. Its funny my wife loves Kohls. She purchased a battery powered hand vacuum for 40% off. I always tell her that its BS what they do. Went to walmart and I took her down the isle with the vacs and found the exact same one for the same price she paid for it at kohls. Guesss what??? They didnt advertise 40% off
The higher prices are now built-in.
...It seems strange that something as simple as the economy turns out to be so difficult to predict, but give the financial world a shove in any direction and only half the predictions come true.
You must be married to my wife's sister.
I had no trouble predicting the economy would be horrible starting in 2020 when the gov____ment started spending wildly. Thats when the inflation kicked in and then interest rates went up. Now everything costs a lot more and it’s here to stay.
Well, it's a national economy. That's an average over a lot of land and a lot of different types of businesses. Overall it is doing surprisingly well - investments and jobs are up, wages are up, and inflation is down. But that is looking at the whole country; it doesn't mean every area is experiencing the same thing.
Inflation is down? From what? And job market is not great. Sure, stats can be twisted to say it is performing, but it is still in recovery from COVID. And I live in Florida that has fared better than most areas of the country
Or they are hidden b/c greed takes away sense. I can remember in 2005. When banks hired outside firms to write reports about the health of the institutions. Now my thought on this is why would any bank hire a firm to write report that wouldn't show how healthy they are. Turns out they were misleading and we went into a deep recession that nobody saw coming. I also remember lots of no down payments on houses. Odd interest rate. People getting loans with zero income. I was in residential excavating at the time in indianapolis. It made me nervous enough to look for career change. I did. I went into O&G. The excavating company I worked for layed off everyone except for foreman. My career change lasted 15 years and it was a good move as I was able to make some great money and better position myself. Sometimes the writing is on the wall. Its just how well you can read into it. Or at least be willing to say i think this is a reasonable outcome. Im going to make a change.
inflation is down YOY but it has compounded over the last few years They will not recede either unless there is major downturn. Real wages are not keeping up. Real wages are the actual income you have after paying inflation. Consumer debt is getting bad. Repo is heating up. People are upside down from purchasing homes over the last few years b/c of said inflation.
I just purchased glenmorangie 18 year for 110. It was a 100. Its good stuff
This is a classic example of “can’t see the forest through the trees”.
We purchased 8 acres of wooded property in the country 9 years ago. Heat are home with wood, less property taxes, maintain cars and all that. I would be considered the not growing the economy person. But that hasn't changed my view as how i see the economy as of right now. Since the great recession we have virtually printed money at will, kept interest at historical lows, made access to college funds much easier. We had government loans for college in the 50s but going to college wasn't nearly as mainstream as it is today. While the 70s and 80s presented problems for gaining a mortgage. People still did it. Hell my parents did. Things were done a bit differently back then and you could navigate around higher interest rates but you are right it was extremely high then.
