Here Comes the Recession

[Orangeburst]

I bought my parents old house in a very small town; I might go to the Dollar General rather than drive 15 miles to something better for an emergency dozen eggs or loaf of bread. Here, we do most of our grocery shopping at Publix and Sam's or Costco - there, I've got a PX and commissary about 20 min away, and still a Sam's at least in Murfreesboro. We've always kept a full pantry, refrigerators, and freezers, though ... probably a lot different than most people.

Seems as though the thieves have infiltrated pension plans for CA state employees and even armed forces retirement plans (heard it mentioned on Maria this morning).
California public pension fund invested in blacklisted Chinese companies: congressman

 

[AM64]

One has to wonder at the level of greed and/or ignorance that got the USA into the position of being so dependent upon China (and to a lesser extent India) for manufacturing so much of what we need in this country, from steel to electronics to the key ingredients in our pharmaceuticals.

I started reading The Hundred Year Marathon a while back... need to pick it back up.

Just put it on hold on my online library - looks interesting.

 

[AM64]

Just look at how much the rich people have amassed in the last 20 years. The top .1% is worth more than the entire lower 80%. I'm all for rewarding people, but the tables have turned against the people that work for a living.

I think there are two ways to run out of other people's money and ruin the economy. The traditional socialist mold that we all know about ... tax and redistribution that kills incentive. I think there's also a capitalist version. Deny workers jobs through offshore manufacturing, excessive automation, etc ... when those potential workers without jobs run out of money, they are no longer consumers. Redistributing a pot of wealth through a service oriented economy may make it look like things are working until they don't. It's like playing Monopoly (the board game) with a set pot of cash and no income - the result is inevitable.

 

[volfanhill]

Ha!

The last time we elected a Democrat, he inherited an economic disaster created by a Republican administration... and how'd that turn out?

See chart below note the stock market from January 2009 through January 2017.

View attachment 263777

You may want to look up how that recession started, who wanted housing for everyone, and which president literally warned us about the housing bubble. I am no W fan but wasn’t his fault.

 

[Orangeburst]

You may want to look up how that recession started, who wanted housing for everyone, and which president literally warned us about the housing bubble. I am no W fan but wasn’t his fault.

You see The Big Short? I thought it did a good job for a movie explaining what happened. Government, banks and credit agencies all played a role. I guess what disturbs me the most is the credit agency that stamped these loans with a good rating when they were junk.

 

[RikidyBones]

Have to be one stupid dick to buy a new $60,000 dollar truck. Buy used......that's better at $35,000 dollars

Even that is overpriced af.

 

[MontyPython]

You may want to look up how that recession started, who wanted housing for everyone, and which president literally warned us about the housing bubble. I am no W fan but wasn’t his fault.

Heh. I'm very familiar with what happened. In fact, I was shorting bank stocks in 2008 and had naked LEAP put options on the Chinese market among other plays.

The whole thing was stupid. 40 year mortgages. Super loose credit standards. Much of it was preventable, but such is human nature: Greed... then fear. When banks run unfettered, this is what happens. Then everyone turns to the Government (which they previously despised) and begs it to bail everyone out and save the day.

The current stock market situation was a bubble, as well. Trump is largely responsible for it, as he literally served as Chief Cheerleader the entire way up.

 

[Mick]

You may want to look up how that recession started, who wanted housing for everyone, and which president literally warned us about the housing bubble. I am no W fan but wasn’t his fault.

W. had a Republican controlled congress til 2007, yes it was. It was the fault of the small government, no government intervention, and no regulations party also know as Republicans. A lot of good it does to "warn" anyone.

 

[Velo Vol]

Certainly the markets couldn't have failed.

 

[happy-go_vol]

I've heard a few people swear by Dollar General ... but that hasn't been recent, but they had a good point about how Dollar General does fine when the economy is good and still well when it isn't.

Didn't one of the Carolinas try to ban dollar general? If you look at their pricing and compare it to other stores, its not much better and in many ways more expensive. They package their items to look economical but its not that cheap

 

[1972 Grad]

Didn't one of the Carolinas try to ban dollar general? If you look at their pricing and compare it to other stores, its not much better and in many ways more expensive. They package their items to look economical but its not that cheap

Dollar General locates in a lot of small towns and rural areas with only local competition. Pretty good business model. The stores are big enough, but not too big.

 

[CagleMtnVol]

Dollar General locates in a lot of small towns and rural areas with only local competition. Pretty good business model. The stores are big enough, but not too big.

We do a lot of shopping at our local DG since it opened a couple of years ago. Now we usually only buy what is in their weekly sale paper or something like milk. It's convenient to do as its only about a mile from the front door instead of the 12 mile or so drive off the mountain to Walmart.

 

[AM64]

Major bank economist says the coronavirus market reaction ‘boggles the mind’

Looks to me more like opportunity for the large industrial sized investors. Dump big at the top, panic the market, pick up bargains at the bottom ... thanks to the little guys that panicked. Just like using a ratchet wrench - pull when you have leverage and rotate back when it is to your advantage.

 

[AM64]

We do a lot of shopping at our local DG since it opened a couple of years ago. Now we usually only buy what is in their weekly sale paper or something like milk. It's convenient to do as its only about a mile from the front door instead of the 12 mile or so drive off the mountain to Walmart.

Is that the one that's were TNT Auto Parts was years ago?

 

[CagleMtnVol]

Is that the one that's were TNT Auto Parts was years ago?

Yeah but that wasn't an auto parts store. TNT stood for Tennessee Nitrate Technology. It was connected to Skyline Coal when it was there near the 111/8 intersection.

 

[AM64]

Yeah but that wasn't an auto parts store. TNT stood for Tennessee Nitrate Technology. It was connected to Skyline Coal when it was there near the 111/8 intersection.

OK. I drove 111 and 8 pretty often while my parent's were living, but then not much for several years - and not always during the day. I guess I never paid lots of attention ... funny when someone else drives you notice all the things you didn't see when you drive. We had some TNT Auto Parts stores around here - the owner's initials happened to be TNT - so the confusion about the store. BTW, I can think of lots of places worse to live than Cagle Mountain; it's a place I could get used to very easily.

 

[Sandman 423]

W. had a Republican controlled congress til 2007, yes it was. It was the fault of the small government, no government intervention, and no regulations party also know as Republicans. A lot of good it does to "warn" anyone.

The man literally stood in front of congress on national tv and warned of the dangers a head and people called him a racist for it. Go back and watch it. Until President Obama presidents didn't right the laws for congress.

 

[825VOL]

W. had a Republican controlled congress til 2007, yes it was. It was the fault of the small government, no government intervention, and no regulations party also know as Republicans. A lot of good it does to "warn" anyone.

You have no f’ing clue what you are talking about- as usual.

 

[Mick]

You have no f’ing clue what you are talking about- as usual.

Who are you and what did I post that was wrong?

 

[825VOL]

Who are you and what did I post that was wrong?

You are badly mistaken on the root causes of the financial disaster in 2008. It was the fault of government intervention in the marketplace that distorted the types of loans being handed out and the government buying said loans so that executives at Freddie and Fannie could make $20-40m in bonuses. If you don’t know what happened, better to put imo in there instead of acting like you know something you don’t.

 

[0nelilreb]

We do a lot of shopping at our local DG since it opened a couple of years ago. Now we usually only buy what is in their weekly sale paper or something like milk. It's convenient to do as its only about a mile from the front door instead of the 12 mile or so drive off the mountain to Walmart.

We pick up stuff all the time from DG just to avoid going to Walmart . It’s totally worth it just for that reason .

 

[USAFgolferVol]

You may want to look up how that recession started, who wanted housing for everyone, and which president literally warned us about the housing bubble. I am no W fan but wasn’t his fault.

The sub prime loans and the resulting default didn't cause the 2008 crisis. Not even close

 

[CagleMtnVol]

We pick up stuff all the time from DG just to avoid going to Walmart . It’s totally with it just for that reason .

We've noticed though that some DG prices overall isn't as good as Walmart and even some packaging is slightly smaller in comparison.

 

[0nelilreb]

We've noticed though that some DG prices overall isn't as good as Walmart and even some packaging is slightly smaller in comparison.

Probably right , I’m willing to pay the difference to avoid all the idiots at our Walmart . Sacrifices have to be made . Lol

 

[USAFgolferVol]

You are badly mistaken on the root causes of the financial disaster in 2008. It was the fault of government intervention in the marketplace that distorted the types of loans being handed out and the government buying said loans so that executives at Freddie and Fannie could make $20-40m in bonuses. If you don’t know what happened, better to put imo in there instead of acting like you know something you don’t.

The financial disaster was caused by there being exponentially more credit swaps being issued by banks on the mortgages than the mortgages themselves. You're right about the government but it was their fault in deregulating the SEC in the early 2000s. It didn't help either, that S&P and Moody's went private. Too many high risk mortgages were lumped and rated the same as low risk mortgages. Then of course, the banks invented a product for shorting the mortgages because they were too stupid and not paying attention to the rising default rates. Go to your library and check out the book The Big Short. Hell, just watch the movie and you will have a better understanding of what happened