Spooooooky!!! Anyone else feel like we're in eerily similar times today as we were in 2007-2008. Only top 20% have more savings than pre Covid

[GnauzBookOfRhymes]

Credit Card delinquencies on the rise

Fox Business panel highlights increase in credit card rejections and delinquencies, fails to mention Trump administration’s gutting of consumer watchdog

 

[FAH1223]

usually presages a recession...

Dow getting killed again

S&P 500 enters death cross territory (50 day moving average BELOW 200 day average)

brehs/brehettes, take it from someone who was around for the great depression....

i say this as a business owner myself - if you are thinking about going into business for yourself but you have a stable job right now, DON'T MAKE THE JUMP....don't go crazy this christmas, have a talk with your significant other (if applicable) about where in your lives you can cut unnecessary spending...save, save and save some more

if you do have the money and are looking to see how you may be able to capitalize, CONSIDER (with due diligence of course) purchasing a rental property (I would probably wait until mid next year when the housing market will be complete shyt). foreclosures are going to increase and people will be even less likely to want to own while we're in recession (not to mention mortgages will be tougher to obtain). the rental market will always be strong.

 

[GnauzBookOfRhymes]

didnt want to tell yall but this is me

 

[GnauzBookOfRhymes]

Wall St. Ignored Signs of Trouble for Months. Now It Sees Risks Everywhere

 

[greenvale]

Wall St. Ignored Signs of Trouble for Months. Now It Sees Risks Everywhere

 

[Wild self]

Breh

 

[futureDevelopment]

Yeah, it's going down but this time will be much worse and will get out of control and destroy several nations/governments. Outright authoritarianism could take over parts of Europe or even the US.

Global central banks cannot lower rates any more, they are out of ammo and walking into an even bigger firefight.

My top 3 triggers are:

1. China Debt meltdown
2. Emerging market dollar denominated debt meltdown
3. Italy debt meltdown in EU

US will be smacked hard but I don't think we will be the trigger.

And maybe a major war? The Crimea thing and south china sea thing has been simmering for a minute... lol

 

[DrBanneker]

And maybe a major war? The Crimea thing and south china sea thing has been simmering for a minute... lol

A major war in the 21st century would be a real bad deal. South China Sea is my bet. Asian nations have been arming like crazy over the last 20 years and if WWIII happens, I think most fighting will be in Asia.

As far as Crimea, I don't see the US or EU going all out into that which Russia probably knows, the risk there could be nuclear though.

 

[GnauzBookOfRhymes]

to be honest i don't think it will be so bad as to bring war etc. i definitely agree that things could get real bad in europe - they are usually a decade or so ahead of the US in terms of the strength of their right wing parties. and that strength is magnified bc of the differences in our governing systems (parliamentary system gives small parties HUGE power b/c you need a coalition to govern).

i think in the US problems can be mitigated by:

1. doing something about the student loan crisis
2. major infrastructure/stimulus deal
3. a new tax bill focused solely on low/middle income

 

[☑︎#VoteDemocrat]

@GnauzBookOfRhymes IMF warns storm clouds are gathering for next financial crisis

 

[GnauzBookOfRhymes]

Chance of recession rises to the highest level of the Trump presidency: CNBC Fed Survey

Greenspan to investors: 'Run for cover' - CNN
Foreigners Dump US Treasuries As They Liquidate A Record Amount Of US Stocks

 

[YamakaSmacker]

The housing situation is nowhere near where it was in pre 07-08 recession. The loans that were being approved were jaw dropping. Now it will be trumps tariffs and tax cuts(price of building and manufacturing is rising fast and so many things us workers can no longer write off) as well as people defaulting on ridiculous car loans and student loans.

 

[GnauzBookOfRhymes]

Hard to make a point that I am assuming the next recession will be anything like the previous one when my first post in a thread titled "Anyone else feel like we're in eerily similar times today as we were in 2007-Early 2008?" is "No"

Seems to me that a lot of educated people without sufficient understanding of markets have made it a habit in the last decade to predict when the next huge crash will be along with a mixed bag of causes that are always thrown around. While your points are valid and are problems, the next recession will most likely be real rates rising a bit higher and the credit cycle reaching its natural end following an undetermined amount of additional Fed hikes, or a credit collapse in China (unlikely in the short term).

with respect to the first sentence i meant just a general sense that the economy will dive relatively quickly, not that the exact causes will be the same.

regarding the second point, we shall see.

The housing situation is nowhere near where it was in pre 07-08 recession. The loans that were being approved were jaw dropping. Now it will be trumps tariffs and tax cuts(price of building and manufacturing is rising fast and so many things us workers can no longer write off) as well as people defaulting on ridiculous car loans and student loans.

i agree re: the housing....won't be the trigger but it will exacerbate as foreclosures rise

 

[Jx2]

This time changed my life so drastically, I'll never forget it.

It restructured the trajectory and paths available to success for anyone my age that came out of that era (08 for me) with a college diploma.

 

[dora_da_destroyer]

to be honest i don't think it will be so bad as to bring war etc. i definitely agree that things could get real bad in europe - they are usually a decade or so ahead of the US in terms of the strength of their right wing parties. and that strength is magnified bc of the differences in our governing systems (parliamentary system gives small parties HUGE power b/c you need a coalition to govern).

i think in the US problems can be mitigated by:

1. doing something about the student loan crisis
2. major infrastructure/stimulus deal
3. a new tax bill focused solely on low/middle income

i'm getting less and less in favor of this because these fed policies for the "middle income" pretty much screw "middle income" earners in high COL areas/states.