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So just how bad is this recession going to be?

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bmw
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So just how bad is this recession going to be?

Post by bmw » Mon May 23, 2022 9:41 am

I know we're not "technically" in a recession yet, but it is coming. My question is, just how bad are things going to get? I sure hope I'm wrong, but has the feeling of something worse than the Great Recession of 2008 on the horizon. Gas prices are very near being higher (adjusted for inflation) than they were then, rising inflation shows no signs of leveling off anytime soon, there are prolonged supply shortages of all kinds in basically every sector of the economy, the world is pandemic-weary, the Russia-Ukraine situation shows no signs of resolving soon, the DOW is down 14% since the beginning of the year (with some of the major tech stocks being down sharply more than that), and perhaps most importantly, we're stuck with Biden as President for 2 and a half more years. Then add to that all the interest rate hikes we have coming, a national debt nearing $30 trillion, and an increasing divide between liberals and conservatives in this country (which is causing a completely and utterly dysfunctional Congress), and well.....I just don't have particularly high hopes for what the next few years is going to look like.



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Honeyman
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Re: So just how bad is this recession going to be?

Post by Honeyman » Mon May 23, 2022 11:25 am

I agree completely. And I have zero faith in anyone in government to help us out of this mess.


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MWmetalhead
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Re: So just how bad is this recession going to be?

Post by MWmetalhead » Mon May 23, 2022 8:23 pm

I agree that a bad recession is on the horizon. I'm not certain yet it will reach 2008 / 2009 levels, but I'd say that is a distinct possibility.



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TC Talks
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Re: So just how bad is this recession going to be?

Post by TC Talks » Mon May 23, 2022 9:43 pm

The illuminati says no recession.
May 23, 2022, at 11:01 a.m. DAVOS, Switzerland (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva on Monday said she does not expect a recession for the world's major economies but also cannot rule one out.


“The more you can increase fear of drugs, crime, welfare mothers, immigrants and aliens, the more you control all of the people.”
― Noam Chomsky

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