Is it really coming? Are you prepared? Can you prepare?
Financial and economic experts say it is. Preppers and conspiracy theorists think so too.
Financial and economic experts say it is. Preppers and conspiracy theorists think so too.
The Coming Recession
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vigil617
US Veteran
Of course it's coming. It's just that nobody knows when or to what degree.
It's the circle of economic life, my friend.
Focus on today; tomorrow isn't guaranteed.
It's the circle of economic life, my friend.
Focus on today; tomorrow isn't guaranteed.
There have always been recessions. For the future when and for how long is the mystery. Larry
OP
Of course it's coming. It's just that nobody knows when or to what degree.
It's the circle of economic life, my friend.
Focus on today; tomorrow isn't guaranteed.
Don't get me wrong. I'm not worried about it. Can't stop it anyway.
LVSteve
Member
If we do have an economic slowdown I doubt it will be to the depth of the 2008 event. I think the last two oscillations (1980s, 2000s) have taught us that jacking the economy high on a foundation of smoke is a bad plan when the fall comes.
Some on a UK forum I visit have been whining "where is the recovery from 2008". I told them flat out that the excesses of the 1980s and 2000s were unsustainable and we won't be going back to that. What we have now is the new normal, so get used to it. Kinda killed that thread on the spot.
Some on a UK forum I visit have been whining "where is the recovery from 2008". I told them flat out that the excesses of the 1980s and 2000s were unsustainable and we won't be going back to that. What we have now is the new normal, so get used to it. Kinda killed that thread on the spot.
keep your money close keep your toys closer
vigil617
US Veteran
It's just that the ones doing the jacking -- and by example are leading the rest of the herd toward the cliff -- aren't accountable to anyone, and somehow they seem to come through unscathed while so many others suffer.
gman51
Member
The next crash will make 2008 recession look like a drizzle compared to the monsoon like depression that could hit if the dollar loses reserve currency status. Other countries are buying up gold and silver and dumping the dollar due to anticipation of that happening.
Who knows when the carnival roller coaster sitting on the top hump will start racing downward. I think the next 6 months might answer that. Being we are only a little over a month before it is 2020 is unreal. 2019 absolutely flew by.
Who knows when the carnival roller coaster sitting on the top hump will start racing downward. I think the next 6 months might answer that. Being we are only a little over a month before it is 2020 is unreal. 2019 absolutely flew by.
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There's a possibility it will hit around Wednesday, November 4, 2020.
There are to many variables for anyone to know when, how deep, or how long any recession maybe be or last.
Invest in SOLID dividend producing stocks, then put the dividends into Insured money market accounts or C/D's.
If you can remember the rule of three (3) 1/3 in stocks, 1/3 mutual/bond funds, and 1/3 FDIC insured C/D's You may never make a "killing" following the above, but you should be able to avoid being killed.
keep your debt load as low as possible. Remember cash is King
.
Invest in SOLID dividend producing stocks, then put the dividends into Insured money market accounts or C/D's.
If you can remember the rule of three (3) 1/3 in stocks, 1/3 mutual/bond funds, and 1/3 FDIC insured C/D's You may never make a "killing" following the above, but you should be able to avoid being killed.
keep your debt load as low as possible. Remember cash is King
.
LVSteve
Member
Is that the day before you retire?
vigil617
US Veteran
Me, I keep myself as liquid as possible for whenever the bottom falls out.
Beer, wine, and bourbon.
Beer, wine, and bourbon.
Rastoff
US Veteran
The economy is just like global climate. If we had an ice age, everyone agrees we did, then there must be a warm period. It's the same with the economy. We've seen highs, there must be lows.
Let's hope that we've done the proper things so that it is not a dramatic low, but a gentle one.
Let's hope that we've done the proper things so that it is not a dramatic low, but a gentle one.
HOUSTON RICK
Member
Another recession is sure as the sun coming up, no prophecy there. People these days are too soft to take much of a meltdown. Power will stay on except in California, garbage will be collected in most places, and the Chinese will not bother to invade. May lose a few Starbucks. Law and order will survive in Texas.
Have you ever really thought about why gold and silver carry such an allure? They are dug up out of the ground the same as marble or sandstone and can be made into electronic or jewelry but who decided that they are worth more than anything else. Just a wandering mind I guess.
The only control I have is over my actions, so I simply reduce my vulnerability to financial shenanigans by no longer incurring debt and keeping money I really need out of stock and bond markets.
Absalom
SWCA Member, Absent Comrade
The business cycle is more or less a law of nature.
If you study history, there were boom and bust during the 19th and early 20th century when the early capitalist economy was pretty much unregulated, proving the free-market fanatics wrong who claim all will be fine if you just leave the economy alone.
Then there were boom and bust throughout the 20th century, proving the Keynesians wrong who thought all would be fine if the government steered the economy.
Both schools of thought are, somewhat simplistically put, a bunch of hooey. It doesn't matter who is president, even though we have a tendency (understandable, but irrational) to vote for people depending on how the economy is doing (which is about as political as I'm going to get). The economy just does its thing, largely based on factors we can't control. No president saved the economy, no president deserves credit for any boom or bust, although Herbert Hoover likely didn't help.
All you can do is save up during the boom to be ready to problem-solve during the down-turn.
If you study history, there were boom and bust during the 19th and early 20th century when the early capitalist economy was pretty much unregulated, proving the free-market fanatics wrong who claim all will be fine if you just leave the economy alone.
Then there were boom and bust throughout the 20th century, proving the Keynesians wrong who thought all would be fine if the government steered the economy.
Both schools of thought are, somewhat simplistically put, a bunch of hooey. It doesn't matter who is president, even though we have a tendency (understandable, but irrational) to vote for people depending on how the economy is doing (which is about as political as I'm going to get). The economy just does its thing, largely based on factors we can't control. No president saved the economy, no president deserves credit for any boom or bust, although Herbert Hoover likely didn't help.
All you can do is save up during the boom to be ready to problem-solve during the down-turn.
LVSteve
Member
I disagree on the reasons other countries are dumping the dollar. Any electronic transaction in dollars touches New York, where all our three letter agencies can get at it. The rest of the world eventually got wise to this, and bit by bit are separating themselves from that ongoing information leak.
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Having done collection work and foreclosures on my final job, I absolutely agree with everyone who has said to reduce your debt load. If your economic situation is good, use it as an opportunity to pay off debt.
Dave Ramsey had a great line to show how it makes sense to pay off a home mortgage. He said, "Why do you want to pay the bank $1 in interest to save $.28 in income tax?"
Dave Ramsey had a great line to show how it makes sense to pay off a home mortgage. He said, "Why do you want to pay the bank $1 in interest to save $.28 in income tax?"
Maddog 521
Member
Debt free and loving the last 3 years. I just took my annual disbursement and my bottom line was bigger than last years after I took that one. I'm hoping for at least another 5 years of this.
Many were saying the economy was going to turn down sharply six months after our current president took office. I think they were just hoping the economy would fail because they want their candidate elected next time.
Diversification
The word "recession" is creeping into the medias vocabulary lately. Doesn't this happen just about the time elections are coming? The liberal media starts talking about the upcoming recession, trying to plant in the minds of voters the doom and gloom which will happen if the politics continue is the same vein.
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I don't think the "free market fanatics" ever claimed they would eliminate booms and busts. They are sort of a necessary part of the plan. But I'd agree that totally unregulated free markets don't work. You at least need the anti-trust regulations to prevent manipulation by the larger players.
The problem with Keynesians is they only read half the book. They got the part about downturns but failed to apply the theory to the upturns. Which leads us to our current predicament...a level of debt that can not, and will not, ever be paid.
But this is the fault of the Politicians.
Geronimo Jim
Member
Doesn't anyone remember or know that the bad recession of 2008/2009 was caused by the bust in the housing market? That was caused by the Federal Government forcing lenders to make loans that anyone and everyone?
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No I've already retired but if bad things happen the day before I might have to go back to work. I wouldn't qualify for any of the free stuff promised.
But what does "Greta" predict??
Meh, no big deal. I've been through all of them since the '60's. Nothing will match 1974. 25% unemployment; the lines at the Passaic UI office were a mile long. Burn barrels every 100 yds and you better get there 7 in the morning if you wanted your check before closing at 5 pm. The Carter years slowed the recovery. 1987 the stock market crashed and took a shortwhile to come back. The . com bust at the end of the last century. 2008, easy money. Around here folks were "buying" new houses without jobs and no down payments. During that crash I bought this house for half the original price and now it's worth the original price. Point is, quit worrying; "boom and bust" is necessary for capitalism to function. One more bust is all in a life's course. Joe
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