G-d runs the world but I fear another recession

amother

Scarlet

Fri, Jun 22 2018, 5:45 pm

southernbubby wrote:

https://www.forbes.com/sites/johnmauldin/2018/03/20/the-next-recession-might-be-worse-than-the-great-depression/#5876569b69b9

Today's news talked about the possibility of trade wars igniting a recession.

There's lots of reasons to fear a recession.

But I suspect that we're at about the same stage of life, so my advice to you is to talk with an investment advisor about ensuring that at least some core of your assets is relatively safe. It hurts like an expletive when things go up and you're flat safe, but there's also a lot of comfort there.

(And I'm more worried about corporate deregulation creating environmental disasters. But that's another post.)

SixOfWands

Fri, Jun 22 2018, 5:54 pm

Jeanette wrote:

we have the bigliest richest most presidential president in history who knows all about trades and money and deals n stuff. we gonna have the yoogest economy in history. MAGA. Fake news.

While I agree with you politically, I don't think its fair game for someone who is genuinely concerned about her assets, or her kids' future.

amother

Violet

Fri, Jun 22 2018, 6:12 pm

Jeanette wrote:

we have the bigliest richest most presidential president in history who knows all about trades and money and deals n stuff. we gonna have the yoogest economy in history. MAGA. Fake news.

There's no question Trump has been good for the economy. Even Democrats would have to concede that point. However, recessions happen and we haven't had one for awhile and there is inevitably one coming. Decades of low interest rates and printing money will likely take the blame. Unfortunately for Trump, there's a decent chance it'll happen as he's seeking a second term and he will inevitably take the blame for something that's not his fault.

amother

Yellow

Fri, Jun 22 2018, 6:16 pm

amother wrote:

You mean just like Obama was blamed for an economy that was going badly because of Bush-era policies?

amother

Blonde

Fri, Jun 22 2018, 6:24 pm

amother wrote:

You are ignoring the fact that Trump is upending trade relations with all of our allies.
#BoycottUSA is trending. NAFTA and TPP are dead. The EU, Japan and Canada are forming trade alliances that exclude the USA. He has alienated our largest export market (Canada) in order to gain points with his base. The USA has flourished and blossomed into the world's largest economy because of the power of global trade. By adopting protectionist policies, he is taking a huge risk.

amother

Violet

Fri, Jun 22 2018, 6:31 pm

amother wrote:

You mean just like Obama was blamed for an economy that was going badly because of Bush-era policies?

I don't remember that. I think Obama came it at the perfect time. Unemployment was high and the stock market was in tatters. We had 8 years of growth under Obama. To keep the economy going, Obama kept interest rates artificially low. He was able to get out of office before the inevitable consequences of that policy devastated the economy.

amother

Blonde

Fri, Jun 22 2018, 6:43 pm

amother wrote:

You said that,
1. Trump has been good for the economy.
or
2. There has been sustained growth due to Obama's policies, which will soon result to an inevitable recession.

Which one is it?

amother

Yellow

Fri, Jun 22 2018, 6:46 pm

amother wrote:

You don’t remember that, but if Trump is wrongly (rightly) blamed for this recession, I’m sure you’ll remember it for always.

amother

Violet

Fri, Jun 22 2018, 7:04 pm

amother wrote:

You said that,
1. Trump has been good for the economy.
or
2. There has been sustained growth due to Obama's policies, which will soon result to an inevitable recession.

Which one is it?

We had sustained growth under Obama for 8 years because he kept interest rates low and printed money to no end. Those policies will help in the short term but will have disastrous long term consequences. It's like a drug addict that needs drugs to function and get thru the day. So the choice is either to continue taking drugs which will help today but destroy the body in the long run, or accept difficult treatment today which will be hard now but will save the person's life in the future. As president, Obama (as most politicians) didn't really care about the long term consequences in the future. He wanted to have a functioning economy and get reelected a second term. It was worth it to continue with the disastrous policies and not worry about the future.

Jeanette

Fri, Jun 22 2018, 7:10 pm

The historical revisionism is happening right before our eyes. Trump cannot fail. Whatever good happens is to his credit. Whatever bad happens is due to his predecessors or circumstances beyond his control.

BTW I learned right here on this website that Trump was responsible for stock market rises that occurred even before he took office because of investor confidence at the thought of a Trump presidency. Now we learn that a rising stock market is a bad thing and a sign that the government is just printing money with no thought of tomorrow.

amother

Violet

Fri, Jun 22 2018, 7:22 pm

Jeanette wrote:

A rising stock market is not a sign the government is printing money. The government is either printing money or it's not. The national debt went up under Obama to historical levels and at 21 trillion we are way past the point of no return. It seems Trump is committed to normalizing interest rates, and rates are actually rising now. Unfortunately most economists believe that the damage is already done and the economy witch is so used to and dependent on free money will not be able to survive higher rates. This will cause a recession. The first trick the government has in fighting a recession is to lower interest rates. Because rates are already near zero, they can't be lowered anymore. Obviously Obama is long gone and Trump will take the fall.

Jeanette

Fri, Jun 22 2018, 7:27 pm

amother wrote:

You do know that the deficit is exploding thanks to the Republican tax scam. But yeah blame Obama.

amother

Blonde

Fri, Jun 22 2018, 7:41 pm

amother wrote:

So you concede that the booming economy of the last 9 years is the direct result of Obama's policies.

amother

Violet

Fri, Jun 22 2018, 8:25 pm

amother wrote:

So you concede that the booming economy of the last 9 years is the direct result of Obama's policies.

We had growth under Obama, not "a booming economy". Calm down. There wasn't a single year that growth averaged 3%. Not even once. And to a large extent the growth was due to policies that were harmful for the future. That future is probably going to be the present pretty soon.