I can’t blame the biden administration for all that’s wrong with the economy, but they’ve done nothing to prevent inflation and everything to help it along. But I’m stopping short of predicting a recession. I may have to revise that in a few months, though. Hopefully, not.
So far the US economy is doing pretty well; certainly compared to the stagflation seventies and eighties. (Mortgage rates hit 14 to 16 percent in the mid 70’s, for example, and when I took over house payments as my home rent the mortgage rate was about 6 percent on a mortgage executed in 1967; the rate today is still less than that, although housing is much more expensive.) The impact of Putin’s war on the world’s other countries, and the friction between the US and China, along with the other energy and supply upheavals may change that though.
The economy “tanking” is a natural result of America not being involved directly in a war – America is, in essence, the weapons-maker to the world and has been since before Worl War II. We still need the direct involvement of resources to revive our economy.
We are like Russia in one respect. Russia requires others to buy their oil to keep their economy from collapsing – America requires the military-industrial complex to be actively engaged in some type of conflict to support our financial “well-being”.
Our military-industrial complex requires complete involvement in SOME kind of conflict, and as has been observed, being involved in a proxy “war”, no longer feeds the machine adequately – the American military is such a voracious feeder on American resources that not having direct financial connection to some kind of conflict results in recession here at home – the American “economy” will start reviving once America openly joins in the war currently being waged in Europe.
guyjen2004 Premium Member about 2 years ago
I can’t blame the biden administration for all that’s wrong with the economy, but they’ve done nothing to prevent inflation and everything to help it along. But I’m stopping short of predicting a recession. I may have to revise that in a few months, though. Hopefully, not.
A# 466 about 2 years ago
So far the US economy is doing pretty well; certainly compared to the stagflation seventies and eighties. (Mortgage rates hit 14 to 16 percent in the mid 70’s, for example, and when I took over house payments as my home rent the mortgage rate was about 6 percent on a mortgage executed in 1967; the rate today is still less than that, although housing is much more expensive.) The impact of Putin’s war on the world’s other countries, and the friction between the US and China, along with the other energy and supply upheavals may change that though.
FrankErnesto about 2 years ago
Don’t forget, Joe, Biden spends 90% of his time playing golf. How come you never mention that? Are you grasping at straws?
jean.balliet2 about 2 years ago
You must be a Republican.
wellis1947 Premium Member about 2 years ago
The economy “tanking” is a natural result of America not being involved directly in a war – America is, in essence, the weapons-maker to the world and has been since before Worl War II. We still need the direct involvement of resources to revive our economy.
We are like Russia in one respect. Russia requires others to buy their oil to keep their economy from collapsing – America requires the military-industrial complex to be actively engaged in some type of conflict to support our financial “well-being”.
Our military-industrial complex requires complete involvement in SOME kind of conflict, and as has been observed, being involved in a proxy “war”, no longer feeds the machine adequately – the American military is such a voracious feeder on American resources that not having direct financial connection to some kind of conflict results in recession here at home – the American “economy” will start reviving once America openly joins in the war currently being waged in Europe.
BB71 about 2 years ago
Thanks Joe! My fixed income doesn`t go very far. I could use another thousand a month to make ends meet. More stimulus money please.
359mxn about 2 years ago
That should lead to equilibrium.
jean.balliet2 about 2 years ago
You must be a Republican.