The Economy Probably Just Plunged Into A Recession

I'm really concerned about being able to retire, as my investments are down to $2.5 million.

My hairline is in recession.

Good. That's actually what we need to slow the economy down a bit. People need to stop buying so much so fast. That's actually the whole point of the FED raising interest rates.

Get Miss Humblebrag at r1

OP don’t use “probably” and “plunge” about the same subject in the same sentence — it’s buffoonish.

Op, here. That's the title of the article.

Hang on to yer hats boys, its gonna be a rough ride.

Miss me yet ?

And yet, Home Depot, Target and WalMart were jam packed this afternoon. Carts full. All I wanted was a counter top microwave to reheat coffee for under $100. Out of stock. Only Sams Club and Costco had Micros and all were over $189.

We've already been discussing this for a few months now....I was told at my job in March that this recession would last for about a year, and other DLers said they were also told recession was coming in their line of work. I think people are having flashbacks to 2008 and most predictions have been that this won't be as drastic.

Go to Goodwill. You can get a decent microwave there for 10 bucks.

Yeah, and people are traveling in record numbers this weekend like never before. Flights being canceled, pilots on strike because they are being over worked. Everyone bitching about the gas but no one is staying home this summer, all still going to hit the highways.

Good news for the Republicans! Damn us Democrats can NOT catch a break

Let's go Brandon!

We've BEEN in a recession.

And we're going to be in one (or worse) for a long time.

Yes, tell Brandon that inflation is a black person

Oh look the Trumpeters are here. Now I know who to block and FF out of here.

It seems like recession is the only way to stop inflation. Carter made the mistake of waiting until mid-1979 to start a recession, so he lost re-election. Hopefully this recession will be over by the election of 2024.

I just wanna know if house prices will ever come down.

Will this affect the cost TO ME of LUBE???

R11, if you are still here, Thank You. Great idea!!!!

[quote] Good news for the Republicans!

Repubs have to buy groceries and gas too but much of this pain is a deliberate choice by the administration.

Americans will have to endure pain at the pump indefinitely in the name of the “liberal world order,” a top economic adviser to President Biden said Thursday — hours after Biden himself said US drivers would have to shell out the big bucks for “as long as it takes” for Ukraine to defeat Russia’s invasion.

During an appearance on CNN Thursday, National Economic Council director Brian Deese was asked by anchor Victor Blackwell: “What do you say to those families who say, ‘Listen, we can’t afford to pay $4.85 a gallon for months, if not years. This is just not sustainable’?”

“What you heard from the president today was a clear articulation of the stakes,” Deese answered. “This is about the future of the liberal world order and we have to stand firm.

I wonder if R17 ever considered charging Trump rent for all the time he spent living rent free in his head. Trump is a useful device to deflect blame from the current administration which is ineffective and in way over their heads. Biden has been in politics for over 40 years and what if anything of significance has he achieved?

OP maybe the Ukraine can return some of the $55 billion of our tax dollars Joe gave them.

R17 the child of Brandy and Johnny Walker

and expensive ride considering gas prices R26

[quote]I wonder if [R17] ever considered charging Trump rent for all the time he spent living rent free in his head.

Oh for fucks sake, Republicans still upset about Hillary and she has not been in any kind of pubic office for over a decade. Let us know when she moves out of YOUR heads. Liz Cheney's challenger brought up Hillary in their debate just yesterday.

So, is that good? R28 My point is move on. Hillary never was President and Trump no longer is! What tells you R28 that my thoughts are about either? PS they are not.

R28 I thought you blocked me! You mentioned Trump here as well as Hillary. I only responded to your mentioning him at R17

DefatTurd wants his rightwing dictator frirnd to conquer Ukraine, he doesn’t want us to help defend the country, and he wants us to buy oil from Russia so they can conquer Ukraine faster, then commit genocide.

He’s mad Biden isn’t letting that happen so he depicts Biden in a silly photoshop costume.

DefatTurd bery intellrigent.

Orca fraus charging their holiday wienies and beer could explain the packed stores.

[quote] Hillary never was President and Trump no longer is!

But she has no intention of ever running again. Trump is still hinting about doing so.

Time to pay the piper.

The red states will be the first to take the most handouts from the government's tit.

R33 SO? What does the fact that someone may run in 2024 have to do with the Biden administration?

Bring the recession, pull the plug on this fucked up economy. A MAJOR reset is needed to bring us back to some normalcy.

Time's up. "You're all gonna die in there".

Reagan is relieved about the reset.

I’m a little confused as to what exactly the republicans think they can do to solve the economic problems facing our country? What are they going to do? Ban more abortions so people are forced to have children they can’t afford?

The repugs are pigs who don't like to share the American pie. They cut off their snouts to spite their own faces. Actual pigs are probably smarter.

[quote]I’m a little confused as to what exactly the republicans think they can do to solve the economic problems facing our country?

LMFAO the answer is NOTHING. They have no plan just like their alternative to Obama care. 10 years later, still waiting for their plan. But people will still vote for them.

So their answer will most likely be what it always is. "we need to cut taxes for the rich and de-regulate corporate over-site to get the economy going again". Which translates to drill baby drill in national forests and parks and rich people pay no taxes while the middle class pay the bulk of it.

Biden caused the recession and inflation.! Those things make me cry! I hate Joe Biden! Why do bad things happen ??!!

^^^Go Fuck Yourself^^^

I hope you’re being “facetious” as Biden is misguided in that term.

Raise rates more, please. I want a major recession.

Nothing will change for most Americans. Daily trips to Costco and Walmart will continue. Americans getting fatter will continue.

[quote]I’m a little confused as to what exactly the republicans think they can do to solve the economic problems facing our country?

The GOP is as impotent as its orange messiah’s limp microdick. The party platform is based on some fascist’s wet dream of a world that never did and never will exist. Since Republicans can offer no legitimate solutions all they can do is bully, obfuscate, obstruct, and appeal to the absolute worst instincts in mankind to maintain power.

I disagree with R46. We are all affected psychologically. People will still buy food, of course, but they are not necessarily springing for the high-ticket items as much. Have you seen the price of steak lately? That's a once every three months purchase for me. And Walmart will absolutely suffer because much of what they sell is discretionary.

It's here.

r48 is wrong. Americans love living in denial and will charge their lives away.

And, then file chapter 11. Rinse and repeat. They are not worried about their kids or their future.

Business has been slower then ever where I work. Employees who’ve been there for a decade say it’s never been this quiet. Usually we have a month or two of down time near the beginning of the year but it hasn’t picked up at all since February.

All the sacrifices and miseries of the peasants are worth it to preserve the Liberal World Order.

He is Woke to the point where it's backfiring. Better than Trump doesn't mean he's a good, effective leader. We deserve better.

Are you sure you're on a like-minded message board?

55, I'm gay, so yeah. I'm a Dem., just not extreme.

WELL, if ELON MUSK said it, it MUST be true!

How quaint this looks four years later.

Gas, grass or ass. No one rides for free.

Schumer is a tool of Wall Street.

Biden's approval ratings have dropped to their lowest yet.

Ha ha I hope you loose it all and have to move to a tent to retire. Ask Larry summers to fix it he's a genius.

Larry Summers is a Repug dolt, you arse. Go back to Free Republic!

At this point if I were Biden I would not give a shit about approval ratings.

The drop is due to the constant attacks from Democrats as to why Biden isn't ruling like a king and passing all the legislation they want while pretending not to understand he has a 50/50 split in the Senate and barely controls the House and can't pass anything without sixty Senate votes still, because voters didn't give him enough Senators.

Republicans will hate him regardless. His approval ratings have been low from the start because many Dems never wanted to vote for him in the first place.

So they're doing what they do best, attacking their own and providing ammunition to the Republicans.

So then there is absolutely nothing that Biden and his Admin. can or should try to do about it?

He's already done everything he can, r66, without creating a constitutional crisis. He just does not have many options, and the Republicans are not interested in helping him pass anything through Congress that might help him.

That's the thing the voters don't want to hear - there isn't anything that can really be done.

Biden's handling of the Ukraine situation has been masterful, so it's good that he was in place for that. And despite some obvious missteps his administration has done a good job at bringing us through the pandemic. He's also saved a ton of jobs with the various giant spending bills he got passed, and those will be paying dividends for years to come.

Unemployment is at record lows, the economy is actually good right now (inflation is high but it's already going down) but you'd never know it from the polls.

[quote]And, then file chapter 11. Rinse and repeat. They are not worried about their kids or their future.

If it's good for business, it's good for regular folks.

Looking at YOU Donald J. Trump.

Are we really in a recession then? Whenever i go anyplace it is packed and no place to park.

I will believe we are in a recession when fat ugly people cant afford to shop at Walmart.

R23 It’ll be 50 years in 2023. Nice work if you can get it.

I think Biden's son is living in a lot of Repugs heads for free. And his son is not even in politics! Must be that big dick gene that the men in that family have keep Repugs up at night.

You morons repeatedly posting that “liberal world order” NY Post article realize that refers to the alliance against Putin, right?

[quote] At this point if I were Biden I would not give a shit about approval ratings

If Joe's handlers have even told him the ratings Joe probably missed it

Recession or no recession, gas prices will be heading down soon.

I have actually noticed a slight drop already.

R75 for every one of those videos I can find multiples of Trump mispronouncing words, slurring, walking slowly and picking up water with two hands, needing assistance to walk slowly down a ramp, etc.

Joe's always made verbal gaffes even when he was a young Senator, it's nothing new. People appreciated it in the past because it sounded "folksy" and made him seem human.

It's a cheap, silly shot.

Biden can do no wrong. He's godlike.

R68 Masterful and expensive! $55billion of out tax 💲💲💲💲 I hope the Ukraine is appreciative of generous (with other people's money} Joe!

Just in time to screw seniors in the fall with a much lower COLA than is due.

Oh for fucks sate, 55 billion is a drop in the bucket. Man up.

-California.

R79 Glad you're such a fan.

R80 Those bills were passed with the support of the Democrats and Republicans. It's a bipartisan investment. And it's well worth it for the US and the rest of the world, if you know anything about international politics.

In the future you should just say 'I don't know anything about international politics", it will save you from having to type out all those emojis for what amounts to the same impression.

R 83 I don't know anything about international politics, but I wonder why $55 billion is going to a non-NATO nation and what will be achieved and how will that be quantified. And I wonder how many I wonder how much money other European nations have given to the Ukraine wonder how much money the Ukraine.

Maybe you can inform me enlighten me as I never said I knew anything about international politics.

R83 ^ and I'm not interested in who approved the bill. I'm not happy that $55 billion is going to the Ukraine.

and R83 please don't respond with Emojis as I know how obsessed you are with them.

OH boy R83, you have your hands full with: R85 "I'm not interested in who approved the bill. I'm not happy that $55 billion is going to the Ukraine. "

For fucks sake, are there really people that opinionated about where government money goes and by the same token admit to being clueless about the political decision behind it?

I blame Fox News for people like this.

R83 ' it's well worth it for the US and the rest of the world'

Where have I heard that empty platitude before? Well at least I'm glad to see you're recycling and that you won't have to tax your brain coming up with something specific, detailed or original You're gonna be taxed enough by the government!

R83 but why does the US always have to shoulder the financial burden? doesn't Europe have anything to be concerned about with something that's going on so close to the home?

Yes, there are R87 there are perhaps you could explain it to them.

R87 did you know that Burisma the company that gave a lucrative seat on its board to the highly qualified Hunter Biden acquired a 70% stake in KUB a company which owned Ukrainian gas companies in 1917 when Old Joe was VP?

^2014 not 2017 R91

I think R91's Tin Foil Hat just exploded, I cant understand a thing she said.

She's speaking in tongues now.

It's money laundering. I do know about international politics. Ukraine has always been where Biden launders his money. R91 gets it.

Biden living rent free in R91's head. 🤣

R93 me thinks you need to layoff the meth for a while for there are indications that Biden is invested in the Ukraine and many people bought into the we're going to be nuked hysteria.

R95 keep up the recycling!

R12 but many INCELs like you didn't leave their mother's basement so there's that to consider.

Same troll(s) still replying back to back. Very tiresome. This thread is kaput from the same trolls. Time to move on.

R82 people who actually live in California might not agree with you that 55 billion it's just a drop in the bucket. Interestingly, California has the fifth highest debt of any state its total liabilities are at 362 billion their assets come out to 301 billion creating a $55 billion net debt

R99 go back to trolling The Roe vs Wade thread They miss you over there!

R100, I live in CA trust me, no one would even notice. California has a TRILLION dollar economy, not a billion dollar one.

By the way, no one cares about your BS stats, anyone could play that game. For example, the rate of job growth in CA is TRIPLE the national average.

and your stats? R102 verifiable or MIA?

R102 You live in California?

(R22) and (R53). You get your information from the NYPost????????? Murdoch(fox) owns that rag. I guess that's why you don't understand that presidents don't have anything to do with gas prices. The USA is a Capitalist country. The oil companies and OPEC set oil prices.

If you think 55 billion to Ukraine is having the slightest effect on your quality of life, you are really bad at math. Your incompetence at math is probably a bigger reason why your standard of living is low.

Furthermore, it’s not as if Biden spent 55 billion redecorating the White House. A sovereign country was invaded. Perhaps you think spending a relatively small amount of money to try to stop that is frivolous, but a lot of people would really prefer that that not become a common occurrence.

The U.S. is not in recession. It’s not even a possibility until mid-2023.

The entire world is dealing heightened rates of inflation for obvious reasons. This is not Joe Biden’s fault. And what, exactly, do you think Republicans are going to do about it? Furthering our dependency on fossil fuels is not the solution and is actually part of the problem that could’ve been remedied decades ago if it weren’t for Republicans protecting that industry over development of renewable sources of energy.

But yes, vote Republican. I’m sure they’ll sort everything out even though it’s a matter of record that they only make things worse and the majority of red states are failed governments dependent on handouts from blue states.

Republicans have a plan.... pilfer more while they can.

They'll do what they always do, cut taxes for the rich, deregulate things so the rivers are yellow and randomly catching on fire again due to the pollution, and if it's Trump, he will pull us out of NATO and destroy the world order and what has kept us and the rest of the western world relatively safe since WWII. He will also get revenge on everyone and everything and will be unchecked and unhinged, and we will end up as a authoritarian pseudo-Democracy like Hungary where the people vote but it's oddly always for Orban. That last part has a good chance to happen even without Trump.

R84 - r86 you are a mess.

You have a strong opinion where $44 billion is spent (who do you think manufactures the weapons? Most of it is going back into our pockets, it's government spending) out of a SIX TRILLION dollar federal budget. That's 1.36 percent (Technically it doesn't come out of the budget but just to provide some perspective).

It's being used to mostly buy weapons to keep Russia from taking over a fully functioning democracy in their doorstep that is making them look bad simply by existing. This isn't some random shithole nation run by a dictator or despot that we protect because they have oil. They are like us.

Ukraine provides a lot of key resources to the world, and Russia having control of that would be very bad as they would use it (as they are currently) to try to hold the rest of the world hostage.

And this is just part of the reason.

Maybe watch less right wing television and learn a thing or two. You don't even realize how you've been programmed to bark at shit simply because it provides the Republicans with a distraction from their wholesale looting of the government and further erosion of our democracy, all in the pursuit of power.

Correct, r109. After the Supreme Court rules in 2023 that state legislatures can throw out slates of presidential electors they don’t like, there will no longer be any point in having presidential elections at all.

R110 thanks for making it so clear that you're a lunatic

R112, thanks making it so clear that you’re a brainless shit-eating vatnik.

People are going to try to blame this on Biden, just because he is President.

They’ll even try to blame it on Biden when the next GQP Congress defaults on the national debt.

R110 🥗🥗🥗🥗

And blocked.

R117 stunning and brave

[quote] “What you heard from the president today was a clear articulation of the stakes,” Deese answered. “This is about the future of the liberal world order and we have to stand firm.

The NY Post is banking on its readership not knowing what a liberal democracy is.

R79 but wouldn't God have better hair plugs

The economy heated up too fast--tons of people got jobs and started buying things, but the supply chain is still nowhere near Pre-Covid level.

That started inflation as the price of what was available started rising. Then the Russian war came making products and food even scarcer.

To calm inflation, the Fed used the only tool it has--increase interest rates.

When rates go up, businesses stop borrowing and home sales slow. When businesses stop borrowing they have to lay off people, who then can't buy stuff anymore--recession.

R28 is conflicted: block unblock ignore follow block unblock ignore follow block unblock ignore follow block unblock ignore follow . .

[quote] The economy heated up too fast--tons of people got jobs and started buying things

I thought everyone was resigning.

Evah play dominoes, dahling. It's like that. Pucker up, soon you will all be giving bjs to ugos, just for an interview.

[quote]I thought everyone was resigning.

The "great resignation" is because for the first time in decades the economy is doing so well that employees have choices now to quite for better jobs and more pay. The unemployment rate under Biden is at a record low. Great for people who work for a living, not great for employers or companies who want cheap labor and shitty work environments.

R81 IIRC Seniors got a 5% COLA this current year. We'll see what happens next.

About California, most residents are going to be getting checks as a counterpoint to the gas prices - at least, those that filed a tax return. Eureka!

Brother, Can You Spare A Dime?

No, fuck off!

The investment strategy arm of the bank says the US is entering a recession in the second half of the year -- in other words, now -- amid inflation that’s faster and more broad-based than expected, weakening consumer sentiment and corporations flagging a shift in spending. That forecast differs from just over a month ago, when the group saw a mild recession and not until the end of this year, but moved up the timing and the severity to “moderate.”

I'm busy stuffing my shoe holes with newspaper.

R78 It doesn't sound folksy anymore. It sounds and looks like full blown dementia

oh really? but why are rents 5000 bucks in NYC? when are those crashing?

Rents will drop after employment craters. Don't want a job, no problem. Poof.

I just don't get how people afford their lives these days. Living off credit cards? Onlyfans?

Agree. People are buying shit and eating out like there’s no tomorrow. I get that buying anything from the grocery store will cost you more for food than simply picking up fast food, but still…Do they know something I’m not aware of? I’m trying hard to reign in expenses and see mostly younger people spend themselves silly.

Deplorable 101. Max the cards and then file Chapter 11. Wait a few years and repeat.

Only a matter of time before a recession hits the UK too regardless of what Liz Truss says.

r52 What is your line of work?

R52, do you work in the hospitality industry?

I see that the young people like to buy used clothing from thrift stores. There are so many in Manhattan. Didn't used to be this way.

[quote] I get that buying anything from the grocery store will cost you more for food than simply picking up fast food, but still

This is not even true anymore. "Value" meals are like $10 now. I bought a pound of ground beef that was on sale for $2.99 and a bag of frozen fries for $1.99. Got 2+ meals out of it.

Inflation is driving the elderly to their death

Soaring inflation is forcing many older adults to skimp on health care services, forgoing doctor’s appointments and shunning prescriptions to save money.

Anecdotally, a high-end builder just backed out of two multi-million dollar transactions on my street because they couldn’t get financing at the last minute - they were a week from closing on one. Because of the politics and economy, we are seeing clients drop out of TX real estate transactions in droves. Homes are now sitting for over well over a month with large price reductions when two months ago, 20 offers all over asking were common. It’s been a dramatic shift here in Austin but I’m not too sad about that because things needed to cool off, metaphorically.

I never realized how apathetic the youngs were until the pandemic. They don't give two shits about other people, especially elders. Synaptic malfunctioning.

Replying to 141, my bad.

Economy el sucko.

Sorry recession mongers, the latest jobs report and pending inflation bill pretty much indicate we will narrowly avoid a big recession

[quote] we will narrowly avoid a big recession

𝐸𝑠𝑝𝑒𝑐𝑖𝑎𝑙𝑙𝑦 as we day to day change the definition of the term :::: tee hee hee :::

R128 A “recession” with 500K jobs created last month? Right..

r148 It's called a technical recession for a reason. The term you're looking for is economic downturn, which is coming, but hopefully not before the midterms.

[quote] A “recession” with 500K jobs created last month? Right..

Did you see a list of those jobs? Are we talking livable wages or head sundae maker at Dairy Queen?

Those livable wage jobs have gone the way of the dinosaurs for at least decade now. Get a clue! Retirees are now back to their to pt jobs to augment their paltry SS checks. Old boss same as the new boss. We’re still fucked!

what do you think about the economy? crash coming?

[quote] I'm really concerned about being able to retire, as my investments are down to $2.5 million.

R1, when you are viciously murdered during the 2024 'eat the rich' revolution, can I have your stuff?

Thanks for bumping another thread about how those idiots got everything wrong about the economy... and they're STILL trying to doom-say just to hurt Biden, whose management of the economy has been pretty masterful.

how is it going so far? where are we investing our money?

Still no recession in sight, lmao. Biden economy so strong, it's fucking with the interest rate cuts.

are they cutting the rates or what?

r157 There's some speculation that they might even raise them this year!

what websites should I be checking out in order to keep abreast of what's going on in the economy? TIA!

Just be here on DL, we'll tell you when it all starts going to shit. Other places are more detailed, but you might get overwhelmed by all the speculation that never comes true in the end anyway. Just like OP's news article from 2022 about the impending recession that never was.

Jesus, you comservative assholes never give up, do you? Do all 14 members of the Log Cabin Republicans post here?

Wishing doesn’t make it so.