The Conservative Cave
Current Events => Economics => Topic started by: Ptarmigan on October 05, 2023, 08:22:20 PM
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New data reveals a crash not seen since Great Depression could hit in 2024
https://www.foxbusiness.com/economy/new-data-reveals-crash-not-since-great-depression-could-hit-2024
As the White House continues to tout the alleged achievements of the president’s "Bidenomics" agenda, a growing amount of data indicates that a gigantic economic crisis could be right around the corner.
Most disturbingly, one important economic indicator that’s currently flashing hasn’t appeared since the 1930s, during the height of the Great Depression.
If the White House and Congress do not cut inflation-causing government spending soon, the results could be catastrophic.
This should very startling.
Historical Context
In 2020, during the height of the coronavirus government lockdowns, President Donald Trump and the Democratic-led Congress spent vast amounts of money to keep the economy, financial system and stock market afloat. Trillions of dollars in additional government spending occurred, all of which was financed with debt and money printing.
The never-before-seen levels of money creation were fueled by policies set by the Federal Reserve, which encouraged Congress to spend more money and kept interest rates extremely low, despite warnings from economists about the threat of future inflation.
When President Biden entered the White House in January 2021, it appeared that the economic crisis caused by the pandemic lockdowns would end soon. A COVID-19 vaccine had been developed, and many states had already started reopening or preparing to reopen their economies.
But rather than return spending to normal levels, Biden and congressional Democrats — with the blessing of the Federal Reserve — opted to keep government expenditures significantly higher than they had been prior to the pandemic.
The decision to continue high levels of government spending, coupled with the Fed’s choice to keep interest rates low and the fallout from the crisis in Ukraine, caused inflation to soar to levels not experienced in four decades. Prices for nearly all consumer items, from eggs and milk to gasoline, skyrocketed.
A combination of COVID, low interest rates, and Ukraine caused inflation to jump. This levels not seen since the Great Depression.
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What everyone seems to forget is that the Depression of 1919-1920 cut deeper into the American economy than the "Great Depression" ever did. And more importantly, that depression was over in 1 1/2 years because of how Calvin Coolidge responded to it. The grestest President since Washington put that depression in the rear view mirror by CUTTING GOVERNMENT SPENDING RUTHLESSLY - up to 50% taken out of some budgets.
Unfortunately, with the damage that Mike Robinson's Li'l Bitch and his sock puppet SpongeBrainShitPants have done to America it'll probably take longet than 18 months, but the prescription that will cure this problem is still the same: take a machete to the halls of the Government Bureaucracy with a ruthlessness that would make Freddy Krueger envious.
Nuke it from orbit: it's the only way to be sure. :fuelfire:
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What everyone seems to forget is that the Depression of 1919-1920 cut deeper into the American economy than the "Great Depression" ever did. And more importantly, that depression was over in 1 1/2 years because of how Calvin Coolidge responded to it. The grestest President since Washington put that depression in the rear view mirror by CUTTING GOVERNMENT SPENDING RUTHLESSLY - up to 50% taken out of some budgets.
Unfortunately, with the damage that Mike Robinson's Li'l Bitch and his sock puppet SpongeBrainShitPants have done to America it'll probably take longet than 18 months, but the prescription that will cure this problem is still the same: take a machete to the halls of the Government Bureaucracy with a ruthlessness that would make Freddy Krueger envious.
Nuke it from orbit: it's the only way to be sure. :fuelfire:
In retrospect, does anyone think it was really odd to pass prohibition just after the WW1? Democrats love to f*ck things up don't they?
And lurking DUmmies, don't give me this Southern Democrats were really Republicans line. It has been disproven countless times
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What everyone seems to forget is that the Depression of 1919-1920 cut deeper into the American economy than the "Great Depression" ever did. And more importantly, that depression was over in 1 1/2 years because of how Calvin Coolidge responded to it. The grestest President since Washington put that depression in the rear view mirror by CUTTING GOVERNMENT SPENDING RUTHLESSLY - up to 50% taken out of some budgets.
Congress has demonstrated ad nauseum how it is completely unwilling to address so-called "entitlement" spending -- social security generally considered as the biggest part of that pie, but it also includes medicare, welfare, SNAP, medicaid, and unemployment.
Entitlement spending currently comprises 52% of federal spending, according to this source:
https://federalsafetynet.com/entitlement-programs/entitlement-spending/
When social security was ushered in by the biggest fascist president this country has ever seen - FDR - social security was intended to take care of grandpa for a few years until he croaked. Life expectancy was 58 years for men and 62 for women in 1930. Now, men can expect to live until the late 70s and even older for women.
But the entire social security apparatus has been bloated beyond belief. All manner of "other stuff" has been added to that overall pie -- all by Congress and all done with the best of intentions, though that particular road of good intentions has led us to hell.
Add in the good ol' boy DoD to the equation and the billions pissed away with endless amounts of cash being pumped in to Lockheed-Martin, Raytheon, and the rest of the defense contractors that keep the current crop of politicians well-fed and comfortable, and you've got lots of opportunity to stop spending money on $640 toilet seats.
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How much is being wasted giving benefits to the 25 million or so illegals that the democrats have flooded the country with. That really pisses me off.
All those who made it happen should be deported along with the illegals. :thatsright:
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How much is being wasted giving benefits to the 25 million or so illegals that the democrats have flooded the country with. That really pisses me off.
All those who made it happen should be deported along with the illegals. :thatsright:
$150.7 BILLION. With a "B". A fraction of what DoD gets, but I definitely get your point. :cheersmate:
https://www.fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers-2023 (https://www.fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers-2023)
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$150.7 BILLION. With a "B". A fraction of what DoD gets, but I definitely get your point. :cheersmate:
How many hospitals could be built and staffed to get the mentally ill and addicted off our streets?
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A. I. will save us
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A. I. will save us
AI is going to turn the human race into it's power supply. Get used to being called Copper Top...
(https://qph.cf2.quoracdn.net/main-qimg-0601298d87215f40500f54e7ed4fc5b3-lq)
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Predicting long term movements in the economy is akin to predicting the climate. Some will see global warming and others will see a new ice age and other will see the status quo of economic ups and downs.
Does this make me a depression denier?
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You can bet as soon as things start to get better the government will screw it up :thatsright: :argh:
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You can bet as soon as things start to get better the government will screw it up :thatsright: :argh:
Government, by it's very nature destroys/screws up everything it touches.
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Government, by it's very nature destroys/screws up everything it touches.
And the worst part is we have to keep paying for it. :thatsright: :argh: :argh: :argh: