Does anyone else feel like we are the precipice of economic calamity?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Things will be difficult for the US but Europe is in far worse shape and nobody is really talking about it. Electricity prices have gone parabolic there- just in time for winter. I understand individual households get some sort of credit towards the bill but many will not be able to afford to heat their homes. Some will die. Businesses do not get any energy credit and many, especially small businesses, will be forced to close due to not being able to pay the bills. Business closures/job losses combined with record energy prices into winter does not sound like a good combination.

Some/ many.

Thank you Mr. Biden for running the most incompetent administration in recent US history.

I guess we have to be thankful we're not Afghanistan.

You know Joe Biden is not the president of Europe, right?

You know it was his WH who signed that surreal memo with Ukraine back in November breaking previous (and pretty logical) assurances to Russia, don't you?

Imagine what JFK would have done if the USSR would have signed and PUBLICIZED a memo promising as many nuclear heads as Cuba wanted.

Just to be clear, you were a-ok with a Russian takeover of Ukraine and the signal that would send to Putin about the rest of Eastern Europe. Or is it that you just want to criticize Biden for whatever decision he would have made. If we sit back, I can just imagine the R commentary about Biden being weak on foreign policy.

[Anonymous]

+315k jobs. Economic calamity!

[Anonymous]

There is a direct relationship between people's views on the economy and their political bias.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Things will be difficult for the US but Europe is in far worse shape and nobody is really talking about it. Electricity prices have gone parabolic there- just in time for winter. I understand individual households get some sort of credit towards the bill but many will not be able to afford to heat their homes. Some will die. Businesses do not get any energy credit and many, especially small businesses, will be forced to close due to not being able to pay the bills. Business closures/job losses combined with record energy prices into winter does not sound like a good combination.

Some/ many.

Thank you Mr. Biden for running the most incompetent administration in recent US history.

I guess we have to be thankful we're not Afghanistan.

You know Joe Biden is not the president of Europe, right?

You know it was his WH who signed that surreal memo with Ukraine back in November breaking previous (and pretty logical) assurances to Russia, don't you?

Imagine what JFK would have done if the USSR would have signed and PUBLICIZED a memo promising as many nuclear heads as Cuba wanted.

Just to be clear, you were a-ok with a Russian takeover of Ukraine and the signal that would send to Putin about the rest of Eastern Europe. Or is it that you just want to criticize Biden for whatever decision he would have made. If we sit back, I can just imagine the R commentary about Biden being weak on foreign policy.

Just to be clear, you think that Biden's foreign policy, including that memo signed late last year which Russia saw as a clear threat, had nothing to do with anything?

Please remind me again what are the so-urgent strategic considerations which made the US promise Ukraine full support to join NATO, which was NOT consulted with/ advised by allies like France or Germany, and cross clear red lines?

[Anonymous]

Anonymous wrote:There is a direct relationship between people's views on the economy and their political bias.

There is a direct relationship between people’s views on the economy and their *economic status.*

The fact that you see this as *political bias* explains a lot about the divisions in this country.

[Anonymous]

Anonymous wrote:+315k jobs. Economic calamity!

Jobs lag sagging earnings and corporate profits, duh.

[Anonymous]

Anonymous wrote:

Anonymous wrote:+315k jobs. Economic calamity!

Jobs lag sagging earnings and corporate profits, duh.

Haha

Guess jobs have been lagging for a looooong time recently

[Anonymous]

Anonymous wrote:Sir this is a Wendy's.

I love you

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is a direct relationship between people's views on the economy and their political bias.

There is a direct relationship between people’s views on the economy and their *economic status.*

The fact that you see this as *political bias* explains a lot about the divisions in this country.

DP here and maybe so. I've voted Dem for the last 20 years, but did not and do not agree with all of the pandemic stimulus, years of quantitative easing, CTC, loan forgiveness, etc. All this free money flooding the market as created the crippling inflation we now face.

And no we didn't qualify for a penny of any of it, our salaries have not remotely kept up with inflation, and now we are left paying for all this way more expensive stuff (or doing without) because of all the poor financial decisions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a direct relationship between people's views on the economy and their political bias.

There is a direct relationship between people’s views on the economy and their *economic status.*

The fact that you see this as *political bias* explains a lot about the divisions in this country.

DP here and maybe so. I've voted Dem for the last 20 years, but did not and do not agree with all of the pandemic stimulus, years of quantitative easing, CTC, loan forgiveness, etc. All this free money flooding the market as created the crippling inflation we now face.

And no we didn't qualify for a penny of any of it, our salaries have not remotely kept up with inflation, and now we are left paying for all this way more expensive stuff (or doing without) because of all the poor financial decisions.

Waaah. Poor people got stuff and we didn’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a direct relationship between people's views on the economy and their political bias.

There is a direct relationship between people’s views on the economy and their *economic status.*

The fact that you see this as *political bias* explains a lot about the divisions in this country.

DP here and maybe so. I've voted Dem for the last 20 years, but did not and do not agree with all of the pandemic stimulus, years of quantitative easing, CTC, loan forgiveness, etc. All this free money flooding the market as created the crippling inflation we now face.

And no we didn't qualify for a penny of any of it, our salaries have not remotely kept up with inflation, and now we are left paying for all this way more expensive stuff (or doing without) because of all the poor financial decisions.

Waaah. Poor people got stuff and we didn’t.

Its not the poor people that bother me. They aren't the ones driving up the cost goods. Its the people making $150k that got all the free money. They are the ones driving up the cost of goods.

[Anonymous]

RIP EU.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am less concerned about the US than about the UK and Europe. They are facing a very harsh winter with little heat and are scouring the world for sources of energy including war torn areas like Yemen.

Because of the shortage of energy, they are facing far higher inflation than we are. This is new territory for us and it is difficult to see from here what the knock on effects could be, including on the US.

One can only hope for a mild winter.

US energy markets are not insulated from energy crises in Europe. Europe's huge energy shocks and problems will reverberate in the US. Besides, natural gas prices have exploded by several fold already. Pain will already be felt by Americans this winter. Now throw in big energy problems across the planet. It will be very dicey over the ensuing months.

NP and I thought we were somewhat insulated for this winter due to the fire at that LNG facility in Texas that's supposed to be offline until the end of this year. Obv. Thats not forever but I thought we were going to be mostly OK this winter.

The LNG facility will come back on line. The US is unlikely to see shortages, except in the NE — but that’s their own doing because they refuse to build gas pipelines — but prices will rise. Biden is quietly pushing gas companies to stop selling to Europe & build US stocks, but if they do, Europe will be in a real crises (even more so than they will be already). European manufacturers are already shutting down and the prices of everything will rise, including food, as fertilizer pants (which are very energy intensive) cut back.

It’s not good.

PP here and agreed. Once that facility gets back online and they can start selling LNG to more profitable locations and prices rise here it may cause inflation to rise again. I forget the number offhand but I think natural gas prices have a sizable effect on inflation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is a direct relationship between people's views on the economy and their political bias.

There is a direct relationship between people’s views on the economy and their *economic status.*

The fact that you see this as *political bias* explains a lot about the divisions in this country.

DP here and maybe so. I've voted Dem for the last 20 years, but did not and do not agree with all of the pandemic stimulus, years of quantitative easing, CTC, loan forgiveness, etc. All this free money flooding the market as created the crippling inflation we now face.

And no we didn't qualify for a penny of any of it, our salaries have not remotely kept up with inflation, and now we are left paying for all this way more expensive stuff (or doing without) because of all the poor financial decisions.

Waaah. Poor people got stuff and we didn’t.

Its not the poor people that bother me. They aren't the ones driving up the cost goods. Its the people making $150k that got all the free money. They are the ones driving up the cost of goods.

Be honest then and vote GOP.

[Anonymous]

Anonymous wrote:Things do seem bleak, but there are always times of crisis and calamity. Impossible to predict timing. Just plan to stay the course with diligent saving, consistent investing and living below your means.

The student loan deal is quite depressing - consider people with income over the 125k single and 250k MFJ. And there are more changes besides the 10-20 forgiveness. Those changes include reducing the discretionary spending % from 10 to 5 and forgiving loan balances of 12k or less after 10 years -down from from 20 years. Given cola variables not in this and how to fund tuition issues, it seems that more parents might not fund tuition - at least not on the same level.

Any insights?