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Economists warn that a recession could strike soon
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- เผยแพร่เมื่อ 11 เม.ย. 2022
- Former Reagan Economic Adviser Art Laffer discusses the damage rising inflation is having and the likelihood of a recession within the next year on ‘Fox Business Tonight.’ #foxBusinessTonight
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It’s getting rough here in Ohio . There’s people I know that are having to make the choice of buy food or pay their mortgage payment and pray the car doesn’t break!!
Texas as well. The exodus from California has driven up our costs of land, homes, and building materials. Add in the millions of illegals our state taxes are paying for, and there will be a tipping point.
It appears the democrats policies are working.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
welcome to the rest of the world
A Recession becomes a Depression when the recession continues over a longer period of time. I believe we are heading into a depression.
10 out of the last 11 recessions have happened during a Republican lead Gov..Give the Dems a chance for at least one more. Seems fair
In my opinion, 94.5% probability of a recession within the next 18 months; 29.6% probability of a depression during the Biden term.
@@chuckinhouston9952 Well, it is a Democrat turn I guess... Only fair
I agree.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Recession is here already....people are pulling back on discretionary spending already....
Also groceries. Meat is at obscene levels and vegs is going up. Try staying on a low carb diet when carbs are the only food affordable.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
@@janetprice85 you're gonna need those carbs to have energy to plant food... and if you aren't planting you better get started.
@@almostheavenhomestead1680 I have a lime tree and bell peppers for starters. Lol! I agree. And having Mountain House food stores too. We live in a Gulf state so we have emergency food always on hand.
@@janetprice85 good to hear... never depend on the government to recue anyone.
I was under the impression that we're in a recession right now.
I’ll bet you’re a real chick magnet.
I remember reading about the Great Depression and I went to the library and was reading microfiche of the times and they didn't know they were in a depression, they said they were in a recession and kept thinking it would end. And it didn't end for years.
@@annabellelee4535 because recession is democrat for depression
@@almostheavenhomestead1680 The Dems do like to redefine words. Like passing the AFFORDABLE BANKING ACT that raised prices on checking and savings accounts.
@@annabellelee4535 how bout the Affordable Care act? lololol... yeah right!
You can't spend your way out of a recession. The Only way out is stop printing money and lower taxes
Recession and inflation are two different things. You stop inflation by contracting the money supply. Moving to socialism by for example, writing off $1.5 trillion in student debt is another way of saying expand the money supply. That is code for free college, which costs andother $0.5 trillion a year with no taxes to pay for it. That just expands the money supply. Real inflation this year is going to 25%. By the end of the Biden administration, it could be 150-250%.
Increase interest rates, which will hurt.
Unemployment numbers are extremely screwed. The numbers only show the numbers of people seeking employment not those that have dropped out of the seeking process and have been considered unemployable. And yes there is a category for that.
Labor participation rate
Joe Biden, "It's official!!! I'm the worst President in American history."
_Joe Biden, "It's official!!! I'm the worst President in American history."_
He _earned_ it ...
Well, that's probably wrong; our dear potato has never _earned_ anything. But he caused it.
I hear his ghost gun policy is working....just don't tell anyone about the people gunned down in New York a few minutes ago. Blame Putin!
Inflation is well above 10%, much higher than the rate of growth.
Don't worry 10 percent for the big guy...Hunter is working on another deal. Sshh....don't tell anyone.
It's higher than stock market returns. The price is going up, and the earnings are going down. To compete the profits/returns will need to rise, or the stock price go down. Think 🤔 💭 about it. A sale on stocks.
Why am I working for money if they’ve been printing it for nothing? You tax what I make but paying me in a currency that’s not backed by anything so when we discuss dollar value it’s only ever as good as the feds say it is? Wtf to that
But as much food, guns, land and gold/ silver as possible
And working to pay for those that don't and get rewarded to spit out as many babies as possible to get more welfare.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Inflation at at least 20% and climbing and a recession is coming ? Holy crap Batman
We might make a pause for stagflation first.
This happened under Jimmy Carter. Can Fox interview Jimmy Carter and ask him, "In retrospect, why haven't the Democrats learned from your administration?".
biden has been leaching off taxpayers since 1973 when he was first elected in the senate. Why didn't biden learn anything back then he lived it in the senate. Biden watched it happening and supported it back when carter was president.
the same group of people made it happen under Carter. hulloooooo
@@almostheavenhomestead1680 AOC and ILhan Omar (the one that married her brother) they were too young for the Carter Admin. But now that you mention it, yes, you're right Pelosi and Biden himself...
This happened under Nixon. He took us off the gold standard creating pure fiat money. He didn't reduce LBJ's social programs, overspent, and printed money to pay bills. He admitted to being a Keynesian. Biden is following Nixon's path. There may even be a scandal. Ford pushed "Whip Inflation Now", (WIN buttons). We had problems before Carter thought about running.
@@MichaelSHartman we have had issues since 1913 with Woody Wilson signing the fed res act. that put us in the sh@tter. permanently. damned leftists always break what isn't broke . that's their MO
The worst thing, is that this recession is entirely self-inflicted. Let’s Go, Brandon!
Where am I?? The country where werr wa wer with kids touching the hair on my leg and watch my status rise
We're already there. SMH. My grandmother use to stand in line just to get cheese. My grandfather painted mail boxes for a buck just to try and feed their families. It's coming
Bold of him to assume we’re not already in one.
Yep. It's a recession at my house, not spending nearly as much and not doing anything for vacation this year. Yea, I'm in a recession
Economists are always 18 to 36 months behind - give the guy a break...
We know that it's coming so many of us are already prepared
Unless you are on a wealthy island somewhere with its own food supply and riches, there is no way you can be prepared.
If you think you are prepared, you aren't, and probably don't know what is coming.
Keep in mind that Regan got nearly 500 of the available 538 electoral votes as a direct result of inflation.
Regan was from a time when Democrats are not outright insane.
@@lesterchua2677 You are correct. Pelosi looks like she just emerged from the dayroom of a mental ward compared to Tip O'Neil.
Right about now most people are tightening their budget. Just spending on Essentials it's a domino effect and it takes a while to slow down a freight train.
Oil companies report record profits
no one in history has ever spent their way to prosperity
Or borrowed their way out of debt. The US has truly lost it's way and it's mind.
@@annabellelee4535 100% true
I only remember Trump telling Zelensky "You have to talk to Putin"....nothing of this madness would have happened if Biden had followed thru on Trump's line of dealing with NATO and the foreign policy...period...
That makes a ton of sense. Now we have cities the size of Spokane, WA wiped off the map.
Economists and government employees will not tell us the true increases in the costs of basic living expenses.
it all started November 2020
I think... we as citizen that will tell them.. because we that hit directly by inflation....
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
More like Great Depression. Not recession unfortunately. Thanks Brandon and the communists
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
@@sanbruno6010 Nice pipe dream there.
Can people stop blaming government for being incompetent? Looks like the current plan is working just fine! I'm sure that with a little more effort, we can finally have the DEPRESSION that some in Washington are working toward.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Stagflation. Look at what Nixon did, and what Biden has done. Notice what came after.
That's what you get with Biden. I hope those anti Trump folks are happy now
PS - I am not an American. And while I don't approve of all of Trump's whatnots, I would say he's better for your country.
Anti trump if only more like anti freedom anti living anti human folk.
I liked trump. However he has a part in this mess too. Just like bush. Obama a. Etc…. Been a long time coming.
Register NO PARTY PREFERENCE
@@reza2251 True. The low interest rates of Obama, the wars under Bush and the Tax Cut under Trump created most of this mess. Now add Covid as the icing to the mess, we have dramatic inflation. The reality is that the collapse of the US Economy in 2020 with the largest growth in the US Economy in 75 years during 2021 created one of the biggest imbalances in Supply and Demand the USA and the world has ever seen. We went from shutting down manufacturing world wide to a sudden need of extreme supplies. That is 99% of the inflation. People want to blame it on Trump and Biden Stimulus checks or the Fed easing but that is stupidity. The reality is when supply and demand goes out of balance prices either drop dramatically or increase dramatically. It has been that way for thousands of years. It is nothing new today.
As consumer spending slows, the inflation will slow as well. It is insanely basic. As we slow our growth in oil consumption, oil prices will go down. It is insanely basic.
Yes the Fed increasing rates will slow consumer spending since Mortgage rates will go up, car loans will go up, and credit card rates will go up. Cheap debt will begin to slow.
The US has gone insane and Biden has fulfilled his three major promises he made in speeches. He's put America last, he's raised the cost of living, and he's lowered the standard of living.
When we have high inflation caused by more debt, what else should we expect?
Unemployment does not tell us much about how may workers are fully employed,
and instread it is time to start measuring workforce participation.
PRINTING MONEY DOES NOT CREATE JOBS.
If you got anything out of his talk hear that…..
Recession, depression, famine. The ‘domino effect’.
I've been waiting for this since 2008 the fed has been kicking the can down the road since then .
Recession is when your neighbour loses his job. Depression is when you lose your job. F... the recession have a session.
So your trying to tell me we are not in a recession now? What do you call this?
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
@@sanbruno6010 we have NONE of the things you listed. You should get out of your moms basement and join the real world.
In a DEBT BASED economy it's expected. All the time !
We are really at 16% inflation. The formula to determine CPI has been changed twice since 1980. The old formula indicates we are at 16%
I would like to know the equation, and/or ready source. Could you please share a link? Thanks.
This economy is brutal. The only way anyone can get ahead is to take on unacceptable levels of risk. Just doing your job, saving and spending responsibly will see you in the poor house. There is no hope for an honest person who is not hustling and gaming the system.
A recession is one step away from a depression!
I've got news for this guy. We are not in a recession but we are in a depression and have been for years already. The economic experts are the only ones who don't know that.
They’ve been kicking the fan and they’re all out of road.
There is no reality to you post. Last year had 75 year highs in GDP growth, 50 year highs in wage growth, record earnings for nearly all US Companies, largest growth in US citizen savings again and record growth in US Real Estate.
How do you call record growth a depression. That is ridiculous.
@@michaeljohnson4777 you are either too ignorant to speak on the subject or a complete liar because what you said does not reflect reality.
I disagree, if Trump came in and opened oil production full-throttle, oil prices and inflation would drop like a rock
Increasing our energy production would also end the war in Ukraine.
@@johnrobi0 War in Ukraine = Nato expansion!
But what if those working in the energy industry do not earn enough money to be able to afford food and can therefore not work due to a lack of energy?
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
i sure hope you have stocked up on food in bulk. i have been for a year. i even bought 1/2 pig for my freezer.
Abolish the Fed.
Lived thru the 70s. It's the same sssst, different decade. You voted for him. ( you know who you are)
Reminds me of the Obama years. Same crap with Jomo Bidumb.
Obama all over again
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
I remember every time we had a recession I was low on cash cuz when the recessions happened everybody sells everything they bought when they had money now if you got money you can buy up everybody stuff for real cheap pawn shops Love's recessions they make all their money off everybody that bought new stuff and sell for a quarter of what they paid for it that's how they get so rich remember when everybody said oh we'll buy your gold we'll buy your gold most people didn't know this like me I didn't know gold is going to go that high we thought we was getting good prices wow where we dumb or what I've learned a lot in the last 20 years
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
I always bought gold during recessions and sold it during the boom times. Made lots of money.
Art Laffer is the best. Take heed.
Recession is in the minds of the people. If you make the people afraid that a recession is coming then it will happen.
Really? So if people think it's raining it just starts raining?
@@michaeldunwoody3629 Did weather cause the crash of 1929? Do your research.
@@covidmisinformation7481 What are you talking about? Do you actually think the primary factor in economic downturns is perception? Perhaps you should make time to study macro and micro economics, as well as a course or two in psychology. It's Biden's spending, dem's economic and biz policies, and global machinations that have caused this. Not the single mom who sees prices rising and gets concerned.
@@michaeldunwoody3629 You've maybe read about October 1929, when investors panicked ,and sold off everything they could, causing the worst depression we'd ever seen (to date) in this country, right?
*THAT* (the reaction) was most likely caused by "policies", but *IT* (the reaction) was what crashed the economy, not the policies themselves. Herbert Hoover didn't sell of most of the NYSE. Investors did, and it was over a perceived imminent loss, looming.
@@covidmisinformation7481 Same after 9/11. Bush told people to spend money for a reason. He was fighting their perception of the market and trying to avoid another 1929.
Numbers can lie sometimes, but this sort of inflation is hard to be avoided
Numbers never lie. They can be misread and application can overseen.
Talk about lies, the Biden Administration is purposely hiding the true level of inflation in the US economy. They are doing this by deliberately changing the items in the basket of goods that is used to track prices of goods. The true rate of inflation is 15 to 20%!!
@@RobertPetersen1z2y That is much closer to the truth!
As much as Russia had a huge hand in this, the blame should be where the blame is due so "Lets Go Brandon"
Russia "had a hand in it" like a guy who throws a lit cigarette into a burning dumpster.
Yeah, keep listening to joe, he hasn't lied yet ha
The U.S. remains the richest country in the world with an overall GDP of $23 trillion. Plus, average hourly wages are up 10%. The economy closed 2021 on a tear, with GDP growing 6.9% in the fourth quarter during a global pandemic, record low 3% unemployment rate and an amazing jobs report two months in a row. Thank you President Biden.
Russia only had a hand in it - because of a response to sanctions the West began. Other than that it's all Brandon's fault. Oh yes - and the sanctions were his fault too.
@@vivalarazausarmyvet4453 You forgot the $ 5.00 / gallon + for gasoline. 👌👌👌🤫🤫🤫
Interesting that greed is the trap for certain entities. 🙃
Tell that to the Democrats who are not listening to anyone.
By June or July.
Sadly this economic crisis means more inflation and more inflation affects the banking system. My condolences to anyone retiring this year. Please can any considerate person here help me best ideas on diversifying my 150k on prolific investments? I hope to get best replies out here. God bless!
Yeah that's a great question to ask here and should get the best answer because a lot of people seek answer to the same question but couldn't find any answer and they ended up making a wrong step which result to financial breakdown
there is nothing hectic in investing, all you need to do is to get an investment advisor who will guide you through and build intelligent investments ideas to meet your financial goals.
for me I invest with a professional Called Jason Connor by a stock company that trades for us and return profits on weekly weekly basis for me. And you can invest your capital and get weekly returns on of investment (ROI) without any extra fees attached
I've heard quite alot about how helpful an investment advisor can be I've been on the look out for a good one, tho I once saw a review about Expert Jason Connor but no means to connect with him, can you be of help?
Reach out to him through face'book below
The Fed should be controlled by the people and with votes should be allowed to print money. Stock buy back should be a crime!!!
Laffer made the host's argument for him. Dual mandate is the problem; they need to focus solely on stable prices and once done, employment will take care of itself.
Send the government back to school
They are not capable of learning. President Xi calls the leader of the West "children" I think the East is tiring of Western aggression and violence.
Just think when a recession hits everybody paid three times what they should have paid for these houses today and going to be worth half what they paid then people are going to walk away just like they did in 2008 2009 everybody's going to lose their homes to pay for it you're going to lose it
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Great way to bring down inflation. Bring on the Great Depression and homelessness for all.
I am already pulling back. This is going to be bad.
A DEPRESSION FOR THE POOR AND RECESSION TO PROTECT WEALTHY.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Even us outdoor types are getting hit hard! RVs, Camping and fishing gear are all going up in price! At least we can still show everyone How to Have Fun Outdoors for free!
The bubble will burst !
Low unemployment only counts workers looking for work. Right?
Let's go Brandon and company. Depression is coming. Great job lefty voters.
FJB!
Anyone remember 2008? Here it comes again!
Do you remember the Carter Horror? here it comes again. It will make 2008 look like a walk in the park.
is it just me or has the news been all bad since Biden took office?
It's not you.
They’re ruining the country
We need a depression to normalize asset prices, narrow the wealth gap, calm civil unrest, and allow people to afford homes again.
a depression does the opposite of all those things
Sri Lanka is in depression. Riots in all the streets. Depressions cause civil unrest.
A depression drops asset prices into the basement, makes the rich richer, makes riots and crime increase, and makes loans impossible to acquire unless you are rich. Study the Great Depression.
@@annabellelee4535 who owns all the assets?
How many of those assets do you own?
I don't own any.
Seems fine if they all collapse.
You need cash because credit won't be available.
Stack cash.
Buy assets when they're cheap like the rich.
@@aaronknight1009 maybe when you solve them with a money printer?... but no, an actual depression causes wealth to collapse.
The hardest hit depends on who owns the assets. In the last great depression the rich didn't own everything. Now the rich own EVERYTHING. Assuming you have skills and can find work still, collapsing asset prices should only help you unless you FOMO'd into the housing market in the last year or two. Then you're screwed.
Wow, a recession on the way. Just in time for title 42 to be dropped; spiking the crime rate to 99%.
Can someone explain inflation since it is around 8% and everything has raised in price up to 30%. It makes no sense.
Inflation is not any one single item but rather a and average around an index of pricing. For example LED TVs dropped in price by nearly 30% in 2021. Milk went up by 8%. Hotel rooms went down by nearly 22% in 2021 but gasoline went up by 42%.......So on and So on.
As we stabilize the supply chain problems and balance our Supply/Demand problems, inflation will slow. Like every time in world history, when we have too much supply of an item prices go down but when we lack the supplies, prices go up. Until consumers slow their spending habits and manufacturing returns back to levels seen in 2019 (prior to 2020 crash) we will see demand outstrip supply and prices will remain high.
Another item to show the inbalance is building materials. In 2021 building materials grew the fastest in recorded history, they are now leveling off but still high. The USA went into a building craze in late 2020 into 2021 as homeowners began working form home, stuck in furlough or not going out anymore.
It isn't meant to make sense. It is what you're told to give you some belief that things will get better. While in the process, those that caused it, can continue to suck every last available penny out of you, before it all comes crashing down.
@@michaeljohnson4777 milk went up by 8%? Not where I live. 6 months ago milk was 1.79,now 3.29, eggs were .99 now 3.25 , Campbell s soup .99 now 2.09. Car rentals and hotel rooms also went UP not down. Using 8 inflation is a joke for anything delivered by trucks
"Inflation is always and everywhere a monetary phenomenon." That's according to Nobel Prize Economist Milton Friedman.
You can understand this better by considering that inflation is defined as too many dollars available to purchase too few goods. It's simple supply and demand gone crazy and what's worse is that once it gets going its very difficult to stop it without a major recession.
As to your direct question, you need to know that the Biden Administration is purposely lying about the inflation rate. They are doing this by manipulating the items that are in the basket of goods used to track prices in the broader economy. For example, steak is an item in the basket of goods. Steak prices have skyrocketed. So, the Biden Administration substitutes inferior goods, in this example they substitute ground beef for steak. Viola, you get an automatic lower rate of inflation. It's pure deception and it's being done on purpose. The true rate of inflation in the US economy is between 15 and 20%!!
@@arthurbrumagem3844 YIKES...sorry to hear that. Your state is out of control in pricing. You are paying dramatically higher prices than National average
Be interesting to see how they blame this on Trump.
I’m just gonna blame him for the jab.
Technically the blame is on Covid which occurred in the Trump year and blame is on the recover that occurred in the Biden year. Under Trump the US Economy collapsed (2020) and under Biden it exploded (2021). You cannot have a collapse with an explosion without problems. We went from shutting down manufacturing world wide to needed it all on line with mass supplies almost over night. This created the largest supply chain problem in world history. Add to that the 2 rounds of stimulus under Trump and 1 round of Stimulus under Biden and you get massive cash flow from the citizens. It is a perfect storm of increased demand from the people with lower output by the manufacturers....SUPPLY AND DEMAND INBALANCE. This is also the exact reason for massive inflation.
Even oil increase was 100% due to problems in 2020. In 2020 the US Oil industry collapsed and oil production went down by nearly 25%. Add to that OPEC cut oil output by 7 million barrels in 2020. This made oil prices go up 155% from June of 2020 to January 2021 and another 65% from January 2021 to January 2022. Again supply and demand. Supplies were cut in 2020 but demand came back in 2021.
Love me some Art Laffer!
We've been in a recession since 2008.
Just print more money and give it away.
Captain Obvious says hurricanes are likely to hit Florida this year also.
Thanks for the information
How sad it is that many people don’t see the benefit & intelligence of harmony on one hand & the harm & stupidity of conflict? Why do we allow selfish politicians to divide us into Republicans & Democrats?
Hate to tell you but we are already in a recession.
the increase in m1/2 over two years is far far greater than 70s.
Trump2024
I hope we make it to 2024.
True That my Friend We sure Are Bent over a Barrel at the Moment
@@thomastreglia3388 me to
How about no more senior citizens for president.
No Trump or Biden.
recession? try a DEPRESSION OF EPIC historically unseen before. ALL DONE BY DESIGN.
Cloward & Piven. _"We must tear down the current capitalist system, in order to replace it with a new, socially equitable one."_
@@covidmisinformation7481 Where everyone EXCEPT THE ELITES will be under the foot of bone crushing poverty.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Awesome interview.
Yes here comes a Depression!!! I hope Dems are Proud of Themselves?
It’s okay real estate is going through the roof in California Nevada Arizona!! Thanks Brandon!!!!!!
At the time of this comment this video was three hours old. He was right, recession is here in only three hours. It is getting close to a depression as far as I'm concerned.
Data collection always lags behind reality. When inflation soars ahead of wage increases (like it currently has), a recession has pretty much begun. The politicians and "experts" won't recognize it until there's a definitive crash.
...but it's not like we aren't trying to tell them, we are.
But with Biden getting the most votes in history...their arrogance, like our country now, has no boundaries.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
If you haven't prepared for the obvious 4 months ago then it's your own fault
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
The price of used cars isn't going down.
Got news for ya, pal; recession is already here!
A lot of people are running on credit cards now an as soon as there maxed out everyone will see the recession that's already here.
Are we not in one already
"...recession could strike soon" - are these guys living in la la land? we already are there and now looking towards depression.
we are in a depression now starvation is next this may be the end of many Humans.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Funny thing is stocks is still going up despite the bad news everywhere. The manipulation is real! I remember back then stocks decreased in every bad news we get.
but they don't want the dollar and that's the reason
“Printing”/Lending money is one way to create GDP.
The more money is printed, the less the value of the currency. Print too much money and inflation turns into hyperinflation.
all right john maynard kaynes!
Time for Biden and Bernie let their powers unite and unleash the Super Keynesian Fiscal Stimulus Attack!!!
Вопрос, а против кого Америка ввела санкции? В Роосии бензин стоит 0.60$ за литр, газ в домах 0.01$ за m3. На заправках 0.25$ за литр
Pay workers more. Less profit for businesses and more money in the pockets of the employee. That goes into local economy. Our small businesses owner that profit tens of millions haven’t raised wages in years while everything gets more expensive
That ends up with stagflation, which leads into recession and depression.
Now that the border is fully open, labor will no longer be expensive.
so wise. this guy should be THe Fed chair
You mean everything going up 20-50% could have repercussions?
People are crying about a food shortage. It won't bother me at all because I'm so poor there will never be a shortage of food I eat. Oh those poor Karen's will only have 10 choices of breaded chicken instead of 20. Whatever.....
The dual mandate is a screw job. Just get back to managing inflation. You can't do two things at once.
"WE THE PEOPLE" NEED TO PUT AN END TO THE "BABYLON MAGIC"!!!
Does this expert think gold is a good hedge against inflation?
I'm no economist, and I'm too young to have any memory of interest rates in the 1970-80's. But 7, 8 or 11 or 12% interest rates seems crazy. Its seems like adding a FED made inflation (interest rates) on governement made inflation (ridiculous spendings and money printing). Raising interest rates to stupid level is probably what going to cause a recession and bankrupcy for millions of people and businesses. What about just stop printing money and all the government spendings? Actually, I own stocks in banks, which benefit from higher interest rates (at least to some extent), so that should make me happy, I guess. But higher interest rates is not going to stop the money printing and governement spendings. So it is the people and the businesses who are going to suffer twice as hard, and won't be able to buy stuff (or not able to get the loan to buy stuff), hence a recession, because no one can afford to spend (exept the governement who will still print money/add to the national debt).
These Democrats just keep promising "free" everything and printing money, which devalues or dollar. Nothing is free.
As new college graduates with good jobs and credit in the Carter years. Our first new car was at 19% interest. Homes were at 18%. We were married more than ten years before we could buy our first home. 10% was the best rate we could get, again excellent credit, jobs and 20% down payment. Save your pennies and get out of any revolving credit cards, etc asap! God bless.
PEACE, CALM, PROSPERITY, BONANZA, FREE THINKING, OPTIMISM
Where have you people get that we're heading to a ression that was last year now we're heading in to a depression wake up