Recession?

This is the front porch of our forum. Pull up a chair, and talk about whatever's on your mind.
ohjodi
Posts: 940
Joined: Sun Aug 30, 2015 3:57 pm

Re: Recession?

Post by ohjodi » Thu Aug 22, 2019 5:15 pm

33,700 Illinoisans moved out in 2017. All surrounding states saw big increases of people moving in. In the last 5 years, 17,000 people from the Chicago area, alone, have moved to Nashville, TN (and surrounding area). I've read that it's like getting a 25% pay increase, with the lower taxes.
ohjodi

Dgflorida
Posts: 3496
Joined: Wed Oct 07, 2015 8:10 pm

Re: Recession?

Post by Dgflorida » Thu Aug 22, 2019 7:34 pm

I agree with ohjodi and Bev. The problem is ugly. Those who can afford to move to escape higher taxes are moving. This leaves those who cannot afford the higher taxes as the only ones left to financially depend on. So due to their fewer numbers, taxes increase again until the only ones left are those who are on welfare and on the streets. This breaks the public service sector. It is not sustainable.

frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Re: Recession?

Post by frugalmom » Mon Sep 09, 2019 10:44 am

Quilter51 wrote:
Sun Aug 18, 2019 9:55 am
And today the man is talking about 100 percent tarrifs on red wine which will simply increase the war in another direction. Funny but I always though capitalism was about letting the market do its job.
Yes, soooo true!!!

frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Re: Recession?

Post by frugalmom » Mon Sep 09, 2019 10:47 am

ohjodi wrote:
Tue Aug 20, 2019 7:05 pm
Yet, today...."President Trump on Monday called on the Federal Reserve to stimulate what he called a “very strong” economy as the White House tries to tamp down rising fears of a global recession.." https://thehill.com/policy/finance/overnights/457946-trump-pressures-fed-to-boost-very-strong-economy-amid-recession

He's also "looking into" a payroll tax cut to further "stimulate" this "strong economy".

A strong economy doesn't need a stimulus.
Lol...did not think about that but you are right! If it was so strong why do we need to stimulate it!??? Good point! I like all of these analyses from everyone-it makes you think.

frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Re: Recession?

Post by frugalmom » Mon Sep 09, 2019 11:17 am

Just like to point out that the Jazz age of the 1920s ushered in the Great Depression of the 1930s-think the term irrational exuberance pointed to that time. I think it will be at least a recession much harder than the previous one(if not an outright depression) bc we have not learned and the problems just have swelled even further. A national debt that gets bigger and bigger. The only good thing is the world is also in trouble soooo at least the money from there will hopefully seek out a safe haven in the US bc we have the US dollars and are viewed so far as one of the safest economies.

Also, the Chinese holds a lot of our loans and also heavily invested in us-like I wonder if they will pull the plug at some point to cause chaos or if they don't want to jeopardize their holdings. They are having their own economic problems, yet their economy has boomed and individual wealth, but you wonder if that is all a facade and big bubble and that may burst too. It will be interesting to watch how that will play out.

I think one of the first sectors to slow down that WE, the majority, will feel is a housing downturn that will be sluggish. I don't think it will outright collapse out here in my area, but I see signs of prices dropping already-never to the level that it can still be affordable to people who have a regular income bc it is just that bad here. I never understood why we do not limit foreign investments in homes where they pay cash for the home. We need to curb that so more of our own young couples can afford the houses here.

Well, that is my two cents-lol,not as insightful as all of your analyses- I have not really followed the news or financial stuff that I usually do-been too busy lately! It will be interesting to see if we are right or not!

frugalmom
Posts: 1179
Joined: Fri Aug 28, 2015 10:52 pm

Re: Recession?

Post by frugalmom » Mon Sep 09, 2019 11:22 am

Oh and also what concerns me is the malls out here and the stores have been closing! The past couple of months there have been at least 8 stores and fast food places that have closed down out here. Idk if it is just in my area bc maybe not a great area or what?! I am thinking like where are we supposed to shop if everything closes down?! Although Costco is as busy as ever and has LOTS of people that never shopped Costco before coming in(remember you had to be a union member or some type of member to get in when they first started-now think anyone can be a member as long as you pay a fee). So it will be interesting how that all turns out!

Post Reply