Does A Recession Loom Large?

[PlanB]

I'm very worried about our economy. The think the Fed is too, but not letting
on. Since most here assess risks via horseraces, I'd like to know how this
board feels about the economic outlook.

[twindouble]

I'm very worried about our economy. The think the Fed is too, but not letting
on. Since most here assess risks via horseraces, I'd like to know how this
board feels about the economic outlook.

The Fed has been doing everything possible to create one. It's called sucking up everything they can from the middle class, 17 freaking rate hikes for no good reason. $3.00 gas, elect and gas rates going through the roof, that had nothing to do with inflation, all speculation.



The consumer is going to say, FU and buy whatever they need on the black market including Cigarettes. Hand me down clothes, second hand shops will be springing up all over. AOL will go out of business, China's economy will plunge. There will be a world wide depression and Congress will vote themselves a raise. :lol:

[pressman]

isnt there one now? me and guys i work with our companys been slow and these guys older then me worried taken jobs way below skills for $

[twindouble]

isnt there one now? me and guys i work with our companys been slow and these guys older then me worried taken jobs way below skills for $

Pressman, I was just joking around, hold tight there's some pretty smart people on this board that are on top of the economy. I'm retired, now it's up to you guys to worry about. I had 56 years that.

Good luck,

T.D.

[fergie]

Hey, guy! Haven't seen anything from you in a while. I was wondering if you might have given up on us. Glad to see your posts again.:)
Fergie

[mikejlb]

I'm very worried about our economy. The think the Fed is too, but not letting
on. Since most here assess risks via horseraces, I'd like to know how this
board feels about the economic outlook.

I used to follow precious metals like gold & silver. A guy wrote an article back around 2000 right after Bush was sworn in. This is way before weapons of mass destruction talk or any plans of war. He stated that invasion of Iraq was innevitable and that the USA would set up a puppet government to control oil. He went on to say that several other countries would follow and I don't remember them but it went something like Syria, Iran, ect.. and Saudia Arabia would be last. His interest in predicting this was because inflation and gold prices go together and the war would create super inflation....... and of course gold would spike like never before.

It's not my intent to start a political arguement here. I am just sharing a story that I found interesting. The guy was pretty accurate up to this point in time.

I think the same person wrote about this president making the largest income tax increase in history. I know I'll hear about how Bush has held taxes down. However IRS is taking in dollars at a rate that they have never seen before. Gas prices have tripled and so has the taxes on the gas and everything else that we buy. Who in here has had a 200% wage increase to adjust to the price increases in fuel, food, housing, ect..? If you have lost buying power due to inflation, the government is paying it's debt with cheaper dollars, and it isn't getting any better then it is possible that the effects are simular to a huge income tax increase, huh?

[JustRalph]

Gas prices have tripled and so has the taxes on the gas and everything else that we buy.

What the hell are you talking about? Taxes have not tripled, especially on "everything else we buy" Where the hell do you get that?

[Snag]

The economy goes up and down. It doesn't remain steady. There are always increased prices for something and decreased prices for other things. Some find new jobs and others get layed off. It sucks if you are on the wrong side but most things appear pretty good if you are on the other.


mikejlb says "However IRS is taking in dollars at a rate that they have never seen before." Mike, that is because there are alot more people working right now. Unemployement is under 5% nationwide.

The US consumer is in charge of this economy right now. If you see retail Christmas sales below average this year, then it may be time to do a chicken little act. If sales remain at last years level or higher, we will continue on the upward trend.

JMHO!

[twindouble]

Hey, guy! Haven't seen anything from you in a while. I was wondering if you might have given up on us. Glad to see your posts again.:)
Fergie

Thanks fergie.

I guess I'm getting a little crotchety in my old age, had to take a break. The conflict was, do I continue to spend my time here or do something else. The forum is like that one girl that offers up a lot good things but you know deep down you'll never marry her. :cool:


T.D.