Recession/Depression

D

davidc

New member
So I have heard this a few times lately from Financial people that a recession/depression is imminent and will far out weigh the last. China has been printing money like there is no tomorrow and the chickens are coming home to roost. The stock market has been very dismal lately and with the debt the U.S. has right now if this is true it will probably be very nasty. Comments ?.

Dave
 
Its scary to think about but with the way the government and the avg person runs there books it wont surprise me. Only debit I have is my house (with a lot equity) and the only debit my business has is a mortgage (also with a lot of equity) so I know I will survive just fine but it wont be fun.
 
It's a matter of time, rich get richer and the middle class is dead. With most of our mfg in China and Mexico I hope they all fail.
 
Ronald Reagan, the GOP god...destroyed this country's middle class. He deregulated the banks, started the rich getting richer trend with his tax breaks for the rich...started the trickle down philosophy which only pissed on the middle class, and ran up deficits to unreal levels due his tax cuts to the point where we had to borrow from China to pay for the three Bush family middle east wars which makes us indentured servants to China. None of what is happening to us financially should be a surprise to anybody. The middle class is gone, the Chinese own us, and now believe it or not the GOP is saber rattling again to go to yet another war with Iran...which we can't pay for and will borrow yet more money from China to finance.
 
It is interesting how Trump thinks he can man handle China. They hold a significant part of our debt.

Trump has been successful through bankruptcy (making other pay for your mistakes) many times when in trouble.

The market has been on an rise for years so a a correction would be expected.
 
silverfox said:
Ronald Reagan, the GOP god...destroyed this country's middle class. He deregulated the banks, started the rich getting richer trend with his tax breaks for the rich...started the trickle down philosophy which only pissed on the middle class, and ran up deficits to unreal levels due his tax cuts to the point where we had to borrow from China to pay for the three Bush family middle east wars which makes us indentured servants to China. None of what is happening to us financially should be a surprise to anybody. The middle class is gone, the Chinese own us, and now believe it or not the GOP is saber rattling again to go to yet another war with Iran...which we can't pay for and will borrow yet more money from China to finance.
Click to expand...


Sorry to bust your bubble with facts but here are the facts. They are part of the public record if you care to look them up

President Ronald Reagan's record includes sweeping economic reforms and deep across-the-board tax cuts, market deregulation, and sound monetary policies to contain inflation. His policies resulted in the largest peacetime economic boom in American history and nearly 35 million more jobs. As the Joint Economic Committee reported.
Click to expand...

Under President Reagan, federal revenues increased even with tax cuts, federal spending did not decrease, the country experienced the longest period of sustained growth during peacetime in its history, and the rich paid more taxes proportionately than they had before the tax cuts were implemented.
Click to expand...

Perhaps the greatest myth concerning the 1980s is that Ronald Reagan slashed taxes so dramatically for the rich that they no longer have paid their fair share. The flaw in this myth is that it mixes tax rates with taxes actually paid and ignores the real trend of taxation:

  • In 1991, after the Reagan rate cuts were well in place, the top 1 percent of taxpayers in income paid 25 percent of all income taxes; the top 5 percent paid 43 percent; and the bottom 50 percent paid only 5 percent. To suggest that this distribution is unfair because it is too easy on upper-income groups is nothing less than absurd.
  • The proportion of total income taxes paid by the top 1 percent rose sharply under President Reagan, from 18 percent in 1981 to 28 percent in 1988.
  • Average effective income tax rates were cut even more for lower-income groups than for higher-income groups. While the average effective tax rate for the top 1 percent fell by 30 percent between 1980 and 1992, and by 35 percent for the top 20 percent of income earners, it fell by 44 percent for the second-highest quintile, 46 percent for the middle quintile, 64 percent for the second-lowest quintile, and 263 percent for the bottom quintile.
  • These reductions for the lowest-income groups were so large because President Reagan doubled the personal exemption, increased the standard deduction, and tripled the earned income tax credit (EITC), which provides net cash for single-parent families with children at the lowest income levels. These changes eliminated income tax liability altogether for over 4 million lower-income families.
Click to expand...

But hey, don't let real facts get in the way of your Reagan hate.
 
no, you can thank Obama for racking up more debt for our country than all other presidents combined. we're screwed, but our kids are totally screwed.
 
You just got to love the topic of politics on a detailing forum. Wait, I forgot, that is Bush's fault also!
 
Oh hear we go with the Liberals crying and blaming the good ol' GOP...what has 8 years of Obama done...not much good. And his financial plan has really hurt this country. And let's not mention "Obamacare."
 
JSFM35X said:
And by today's standards Trump looks like he has a shot?

You can never say never.
Click to expand...

Its quite a sad commentary on our current government that so many people are so sick of the worthless turds in office (and have been for quite some time) that they are considering a guy like Trump
 
House of Wax said:
Its quite a sad commentary on our current government that so many people are so sick of the worthless turds in office (and have been for quite some time) that they are considering a guy like Trump
Click to expand...

Even I as a Trump Supporter (as of now) would agree with this.
 
"One man's loss is another man's gain" that's how I see recessions. I typically invest when the recession's a peak and get great returns once the economy bounces back. But I'm not sure about how pro detailers deal with it...

P.S. I don't use credit because no one's printing cash for interest (only investment tip I'm giving away)
 
House of Wax said:
Its quite a sad commentary on our current government that so many people are so sick of the worthless turds in office (and have been for quite some time) that they are considering a guy like Trump
Click to expand...

Comparing them to turds gives the turds a bad name, I just hope trump ain't writing checks his butt can't cash. One of the biggest turds is running the garden state. God help us.....
 
I don't know why people blame Presidents exclusively for this type of thing. This mess is the fault of the elected officials as a collective. This isn't a dictatorship. Most politicians are selfish who care solely about getting re-elected. Republicans influence policy in favor of their rich friends to get campaign money to win elections. Democrats influence policy in favor of social and economic welfare so that they get the votes to win elections. The whole system is messed up.
 
You must log in or register to reply here.
Back
Top