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Ok, first off, let me say it first, I sure hope that I can and shall gladly eat humble pie...
Why?
A crash ain't healthy and those at the bottom and the middle will suffer, but the rich, they will be fine. So they will be able to buy one yacht instead of two...
Now many say why pay attention to the Stock Exchange?
First off, I'll make the case that today more people are invested in it than in 1929, 401K, individual investments, pensions, you mention it. Thankfully your Social Security is not in this circus.
Second off... the Stock Exchange is not what is crashing. What is crashing around us is the economy and the last place where confidence fitters IS the Stock Exchange
Just like 1929 the signs of an economy under stress are all around you
Real inflation rates of core goods (which incidentally are not tracked by the feds) are all around you. Things like oh Eggs, and milk, you know non essentials :sarcasm: One paper has a good comprehensive article on this two days ago... and I said, FINALLY somebody noticed, beyond us.
Oh and debt, both national and personal are at an all time hight, except 1929. The liquidity crisis was one of the causes of the '29 crash... and will be one of the major causes of this one. Yep, something about those who refuse to learn from history. Ok, let me put this liquidity in terms most can understand. Businesses rely on loans to run in the modern age. No loans for next quarter, no money to operate... no money... see where this is going? This is why this liquidity crunch has the talking heads spooked.
We don't have tariffs, granted, but our "free trade" has led to a similarly toxic situation.
Now speaking of talking heads... only yesterday we had an article talking of the first driven consumer recession in 17 years... doncha love the spin? Bush Senior was in charge and the right wing economic politics couldn't have a thing to do with THAT one.
They are also starting to tippy toe around terms such as ... crash ... panic ... recession ... bear market. All you need to know is... this ain't good...
On a personal note... I told my hubby, no more discretionary spending until we know where this is going... so they have a minor point, but I would gladly spend that money if we were not here, now wouldn't I?
Now as I said above, I hope I can eat the humble pie, a large slice in fact... but on the bright side, yes there is one... this is happening under Bush's watch... and believe it or not it is a good thing that this happens in the midst of his policies. After all a lot of birds are coming home to roost and metaphorically they are pooping on the Presnit... not the kind of poop he wants
So when your neighbor complaints that his life savings, worst case, went poof... remember blame it on the right person... Junior.
I wonder if that is why Turd Blossom left... after all a lot of turds are hitting the fan...
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