The Great 2022 and Beyond Recession Thread

#26
#26
McDad said:
Was our last recession the housing bubble bursting?

How will this possible recession compare?
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I think even in the absence of the ominous structural problems we had in the financial sector back in 08/09, this recession is going to be hell on wheels. National debt was just under $12T in 2009, today it’s $30.5T. That’s an $18T increase or 250% (credit to @VolStrom on the edit). Suffice to say the battle will be long and arduous to contain inflation under these increasing debt levels. To do it without cutting federal budget items is impossible and you know that’s not going to happen anyway. Let the carnage begin.
 
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#28
#28
utvolpj said:
You blame only Biden. That is wrong

I blame voters. That is correct since they fill our govt full of idiots
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Agree. I blame voters as well. Nobody is willing to take a haircut. They all want funding for their most beloved causes/issues/programs. If one candidate dares to pare back the budget on item X, what do we do? We fire them and elect another moron that will willingly give us the moon while they enjoy the pleasures of power and influence that come from being in DC. WE keep perpetuating the situation we’re in. Gimme some stimulus!
 
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#30
#30
LouderVol said:
Yes. There are that many people who hate Trump. Hopefully they will be forced to realize they shouldnt vote with their feelz.
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They should be feeling it every time they go to the gas station or grocery store. Or Heaven forbid, the steak house 😳 ouchies
 
#31
#31
Vol737 said:
I think even in the absence of the ominous structural problems we had in the financial sector back in 08/09, this recession is going to be hell on wheels. National debt was just under $12T in 2009, today it’s $30.5T. That’s an $18T increase or 39%. Suffice to say the battle will be long and arduous to contain inflation under these increasing debt levels. To do it without cutting federal budget items is impossible and you know that’s not going to happen anyway. Let the carnage begin.
Click to expand...
You need to invert your calculator, $12T to $30.5T is a 250% increase in the debt.
 
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#33
#33
Vol737 said:
Agree. I blame voters as well. Nobody is willing to take a haircut. They all want funding for their most beloved causes/issues/programs. If a one candidate dares to pare back the budget on item X, what do we do? We fire them and elect another moron that will willingly give us the moon while they enjoy the pleasures of power and influence that come from being in DC. WE keep perpetuating the situation we’re in. Gimme some stimulus!
Click to expand...

Good post. It is a shame that the republicans used to be fiscal hawks and now have abandoned that core principal. As I have said before, we need a balanced budget law, but that will never happen....ever. Too many chirping baby birds want a worm. Idiots on both sides of the aisle voted for outrageous spending bills and idiotic "stimulus" packages. All to line certain peoples pockets and pacify others. I really feel that the only way to truly fix this is for it to all crash down.
 
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#34
#34
norrislakevol said:
Good post. It is a shame that the republicans used to be fiscal hawks and now have abandoned that core principal. As I have said before, we need a balanced budget law, but that will never happen....ever. Too many chirping baby birds want a worm. Idiots on both sides of the aisle voted for outrageous spending bills and idiotic "stimulus" packages. All to line certain peoples pockets and pacify others. I really feel that the only way to truly fix this is for it to all crash down.
Click to expand...
Or just for the sake of fun discussion 😃……
Constitutional amendment proposal would repeal federal income tax and the 16th Amendment which…
 
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#35
#35
norrislakevol said:
Good post. It is a shame that the republicans used to be fiscal hawks and now have abandoned that core principal. As I have said before, we need a balanced budget law, but that will never happen....ever. Too many chirping baby birds want a worm. Idiots on both sides of the aisle voted for outrageous spending bills and idiotic "stimulus" packages. All to line certain peoples pockets and pacify others. I really feel that the only way to truly fix this is for it to all crash down.
Click to expand...
Unfortunately you are probably correct. The amount of debt we have amassed is almost unimaginable. Anyone that thinks it will ever be paid off or even reduced is deluding themselves. I bet the interest alone would be enough to fund some state budgets (just a guess). No one wants to endure the pain of reducing budgets. So, the balloon keeps getting inflated.
 
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#38
#38
VolStrom said:
Everyone knows it's coming thanks to potato head Joe's war on the American oil business, so let's just get things rolling. I think that we're already in a recession, we just won't have the proof until sometime in July when they release the 2nd quarter GDP numbers.

Wall Street's favorite recession indicator is flashing red
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Well, let's take a step back. I will be one of the first in line when it comes to slamming the hell out of Biden. I get it. But if we are honest, this is simply the culmination of several administrations of corruption (and to an extent even Trump played into it). We have had a fake, service industry economy, high regulations/taxes, runaway immigration, runaway entitlement spending, demographic challenges due to an aging population, a sh^tty and expensive foreign policy and the Federal Reserve. Pick a date that it all started. You can say 2008... 9/11/2001, Black Monday/the reign of Alan Greenspan, August 15, 1971, November 22, 1963, whatever... But the fact is that Biden just drew the short straw on what was going to be inevitable. And truth be told, let's not forget that economy was wobbling in September 2019 and fell off the table in March 2020, so it is very likely that Trump would be in this same position had it not gotten stolen from him.
 
#41
#41
Rasputin_Vol said:
Well, let's take a step back. I will be one of the first in line when it comes to slamming the hell out of Biden. I get it. But if we are honest, this is simply the culmination of several administrations of corruption (and to an extent even Trump played into it). We have had a fake, service industry economy, high regulations/taxes, runaway immigration, runaway entitlement spending, demographic challenges due to an aging population, a sh^tty and expensive foreign policy and the Federal Reserve. Pick a date that it all started. You can say 2008... 9/11/2001, Black Monday/the reign of Alan Greenspan, August 15, 1971, November 22, 1963, whatever... But the fact is that Biden just drew the short straw on what was going to be inevitable. And truth be told, let's not forget that economy was wobbling in September 2019 and fell off the table in March 2020, so it is very likely that Trump would be in this same position had it not gotten stolen from him.
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Yeah, all that money spent on the Iraq war by W. Bush (aka the village idiot) for ghost WMDs. Afghanistan has been a big money pit. Millions to Iran by Obummer. Trump paying everyone and their dog to lock down due to an overhyped virus. Then, Biden gets in and throws fuel on the fire by waging war on energy independence and opening the southern border for everything illegal. We've been screwed by DC for quite a long time (both parties). If they wanted to give the US an enema, they'd stick it in DC.
 
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#42
#42
Vol737 said:
I think even in the absence of the ominous structural problems we had in the financial sector back in 08/09, this recession is going to be hell on wheels. National debt was just under $12T in 2009, today it’s $30.5T. That’s an $18T increase or 39%. Suffice to say the battle will be long and arduous to contain inflation under these increasing debt levels. To do it without cutting federal budget items is impossible and you know that’s not going to happen anyway. Let the carnage begin.
Click to expand...

That is what I have been saying..Porgressiism by Big Gov is over and they dont know it. Always the last to know.
 
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#44
#44
norrislakevol said:
Good post. It is a shame that the republicans used to be fiscal hawks and now have abandoned that core principal. As I have said before, we need a balanced budget law, but that will never happen....ever. Too many chirping baby birds want a worm. Idiots on both sides of the aisle voted for outrageous spending bills and idiotic "stimulus" packages. All to line certain peoples pockets and pacify others. I really feel that the only way to truly fix this is for it to all crash down.
Click to expand...

What is really concerning is what comes out of this. Some international currency and loss of national autonomy. It will be like the USA begging the IMF.
Cloward and Piven must be proud.
 
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#45
#45
NorthDallas40 said:
Me retiring and leaving this broke back corporate America situation and rolling in a huge chunk of pension cash at the bottom.

You want us boomers outta the way fine by me sayonara bitches!

View attachment 464117
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Had some discussion today....April or Dec of next year...I am out.
 
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#49
#49
SlingBlayde said:
Yeah, all that money spent on the Iraq war by W. Bush (aka the village idiot) for ghost WMDs. Afghanistan has been a big money pit. Millions to Iran by Obummer. Trump paying everyone and their dog to lock down due to an overhyped virus. Then, Biden gets in and throws fuel on the fire by waging war on energy independence and opening the southern border for everything illegal. We've been screwed by DC for quite a long time (both parties). If they wanted to give the US an enema, they'd stick it in DC.
Click to expand...
1. Had Trump had his way, there wouldn't have been lockdowns.
2. That was Iran's money to begin with that was simply given back to them due to sanctions. Now, for them to give it back in pallets of cash is very suspect, but Obama didn't just give away money to Iran.
 
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