Stocks

[rockgremlin]

Trump "doomed" and gold to go through the roof as the next major recession looms:

https://www.google.com/amp/s/www.mar...C-4873AD0947CA

^^^ Posted so we can all have a hearty chuckle when Trump is re-elected in 2020.

[twotimer]

Better stock up on rice and beans...maybe buy some extra ammo, too. Gonna get ugly.

[accadacca]

Thirty-four percent of economists surveyed, in a report published on Monday, said they believe a slowing economy will tip into recession in 2021.

That's up from 25 percent in a survey taken in February. Only 2 percent of those polled expect a recession to begin this year, while 38 percent predict that it will occur in 2020.

[Iceaxe]

34% isn't a great percentage to have on your side. To put it in perspective 24% believe in Big Foot.

YMMV

Climb-Utah.com

[accadacca]

34% + 38% = 72% believe it will happen in the next 2 years. Did I read that right?

[rockgremlin]

Thirty-four percent of economists surveyed, in a report published on Monday, said they believe a slowing economy will tip into recession in 2021.

That's up from 25 percent in a survey taken in February. Only 2 percent of those polled expect a recession to begin this year, while 38 percent predict that it will occur in 2020.

It's been mentioned before, but this may very well be a "self-fulfilling prophecy" that will happen not necessarily because the economy is doing poorly, but because if you talk about something for so long eventually it materializes.

The power of suggestion is real.

^^^That recession post I made earlier was not serious. The guy that made the claim that Trump is "doomed" and that the next major recession is looming is a well known gold investor. So it's in his best interest that stocks suffer so that gold does well. He's a gold pundit -- he's trying to prop up gold because that's what he's paid to do.

[rockgremlin]

34% + 38% = 72% believe it will happen in the next 2 years. Did I read that right?

Well, personally I don't believe it. The key economic factors are still strong right now - home prices, employment, stock market, etc.

If the next recession happens, so what? It's more than likely that it won't rise to the magnitude of the Great Recession of 2008. And I'd much rather see Trump in the White House during a recession than Kamala Harris. Could you just imagine?

[devo_stevo]

Well, if you look at it from a numbers perspective, we are due for one already. According to the Wikipedia, the longest time between recessions in the history of the USA is 10 years from March of 1991 to March 2001.Currently, we have matched that as the last recession officially ended in June of 2009. So it's not a stretch to say that it'll happen sooner or later. It's a part of the cycle that just happens. The problem here is that the only thing to trigger it this time is just political bull crap that it causing people to freak out.

There are some simple things that we can all do to help us survive one though. Just don't spend all the money you make. Save some. Don't get into debt for stupid stuff. Don't buy too much house. All simple stuff that if we all just did that, and a few other things, we'd probably not even have recessions.

All this means that we'd have to take responsibility for our own actions, though. So it's not going to happen.

[accadacca]

I’ve seen many people living high on the hog for the last several years...and I don’t think they’ve really got the money.

[Iceaxe]

If you believe we are heading into recession then put your money where your mouth is and you'll get rich.

It's just as easy to bet the economy will go into recession as it is to bet it will prosper.

Climb-Utah.com

[devo_stevo]

I’ve seen many people living high on the hog for the last several years...and I don’t think they’ve really got the money.

Agreed. There is a lot of that happening. I said it in 2008, and I'll say it next time. Mortgage companies and banks never once held a gun to someones head and said you have to sign up for this house payment that's 50% of your take home pay for the month or more. The people buying those houses did it to themselves.

Like I said. Personal responsibility. Accountability. Words people are afraid of, and run far away from.

[Iceaxe]

34% + 38% = 72% believe it will happen in the next 2 years. Did I read that right?

You just failed Math 101.... hahaha...

In February 38% of those surveyed predicted a 2021 recession... in the recent survey only 34%, of the same panel, predicted a 2021 recession. In other words many experts are jumping off the 2021 recession bandwagon. #FAKENEWS is trying to spin the facts, as usual to make it look like 74%, but you can't count the same donut twice when buying a dozen donuts.

That we will eventually have a recession is 100%.

And here is the link to the numbers since it appears you don't know how to post links or do math.


https://www.ksl.com/article/46620370...by-end-of-2021

Climb-Utah.com

[Iceaxe]

34% + 38% = 72% believe it will happen in the next 2 years. Did I read that right?

And Fox News was have a field day this morning with #FAKENEWS and how they can't do math and are attempting to push the economy into recession as that's now the only way to beat Trump.

Climb-Utah.com

[rockgremlin]

I’ve seen many people living high on the hog for the last several years...and I don’t think they’ve really got the money.

Nope, you're right on the money there. Many, many folks who portray an image of wealth are not wealthy....but they have a LOT of debt and decent credit.

[devo_stevo]

Actual wealth is very different from what most people think it is. Basically, if you have a lot of nice stuff, people will think that you're wealthy. You might be. A lot of people are. That being said, if you lose your income for a month and you're unable to pay your bills, it doesn't matter how much stuff you have, you're NOT wealthy.

And credit scores are not an indicator of wealth. They are merely a measure of how much debt you have and how you relate to it.

[Iceaxe]

Actual wealth is very different from what most people think it is.

^^^THIS^^^

Keep this in mind when Democrats say they are going to tax the rich to pay for all the free shit they promise... there is a very good chance you are the rich they are talking about...

If you are worth $1.2 million you are in the top 10% of wealthy in the US.

If you are worth $500,000 you are in the top 20% of wealthy in the US.

If you are worth $280,000 you are in the top 30% of wealthy in the US.

I'm guessing a large number on Bogley are in that top 30%, I know more then a few are in the top 10%.







Climb-Utah.com

[devo_stevo]

Yup. If you think that the cost of living is high now, wait until we have all of the "free" stuff being promised by the current crop of politicians pandering for votes by the weak minded among us. You won't believe how much it costs to get things for nothing. At least Bernie's honest about taxing the middle class for it. The rest of them will just do it without telling you.

[twotimer]

2021 huh? Now they're telling us that after Trump is re-elected THEN the recession will hit. Man, these people are all over the friggin' place.

[twotimer]

I’ve seen many people living high on the hog for the last several years...and I don’t think they’ve really got the money.

Plenty of people are living up to the max with the credit...so what? '08 was an anomaly. I really don't think that a majority of voters are willing to flush what has been happening in the last two years. Too many people have made (and spent) some real money. The Democrats offer nothing but pain.

I disagree with the '08 recession "ending" in June of '09. That's nonsense. People froze in place for a few months but real work didn't really get going again until at least '15...took off big when Trump got in, of course. Ever heard of the "crane barometer"? Lotsa cranes in the last two years, especially.

Trump 2020...unless we all start shooting at each other before then, eh?

[accadacca]

You just failed Math 101.... hahaha...

In February 38% of those surveyed predicted a 2021 recession... in the recent survey only 34%, of the same panel, predicted a 2021 recession. In other words many experts are jumping off the 2021 recession bandwagon. #FAKENEWS is trying to spin the facts, as usual to make it look like 74%, but you can't count the same donut twice when buying a dozen donuts.

That we will eventually have a recession is 100%.

And here is the link to the numbers since it appears you don't know how to post links or do math.


https://www.ksl.com/article/46620370...by-end-of-2021

Climb-Utah.com

Every article I’ve read (including the link you shared) says 74% chance by 2021. I’m not very good at math, but I think that’s out of 100.