nein51 said:
Canada2017 said:
Doc Holliday said:
Sam Lowry said:
He Hate Me said:
Harrison Bergeron said:
I actually thought Stagflation was a thing of the past but it's here. Basically we've recreated the 70s with high crime, social unrest, stagflation, and global warming instead of global cooling.
And all it took was "Two Weeks to Flatten the Curve" and the other nonsense that followed the initial nonsense.
I agree that "two weeks to flatten the curve" was a travesty. Liberal elites knew perfectly well the lockdowns would have to last longer, but they didn't want to risk telling the truth. So they assumed people were idiots and came up with a slogan that would appeal to them. It was an insult to our intelligence and yet another sign of how little regard they have for us deplorables. I don't know why anyone tolerates it.
Also, when I said that liberal elites did all this, I was kind of kidding. It was actually the Trump administration...
We are reaping the effects of irrationally combating covid, combined with reckless spending and applying failed Keynesian economics for decades.
Millions of people are going to lose their homes because of it.
This will make the 2008 recession look like a walk in the park.
Real estate is going to take a major hit.
Told my wife recently to expect a 20% reduction in the value of our properties within the next 3-12 months .
And it could be far worse.
Know a guy who just closed on an 85 million dollar development deal . Thank God it wasn't me.
20% reduction isn't enough. I'm not sure 50% is enough. We saw values rise insanely high in a very short time period because rates were near 0.
The rates are just part of the problem. The Biden Administration is picking winners and losers on the future based on it fitting their narrative, not whether those technologies can actually support the US economy.
We are pushing Electric Vehicles at the expense of ICE Vehicles with no thought to the electric grid capacity and how several million will impact the system. There is not only not enough re-charging for use beyond local, but the tech to recharge in a reasonable amount of time is lacking.
While doing that, we shut down fossil fuel development to rely on reusables, which cannot handle the load.
We are not building more road miles because of social reasons and that they believe everyone will move downtown, but a Condo in downtown in most urban areas is too expensive for all but the most wealthy.
Not to mention the Pandemic fiasco, we didn't see it here in Florida because we had a Governor that knew enough to keep us up and running since July 1, 2020. But the supply line issues are still impacting the economy.
Government Spending has been horrid.
There are more. This is not as simple as an interest rate issue, this is like an orchestrated how to crash an economy approach.