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The economy increasingly looks like it is hurtling toward a recession, no it will be a 1934 Depression.
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Jul 2, 2022 11:01:33   #
Capt-jack Loc: Home
 
The economy increasingly looks like it is hurtling toward a recession, no it will be a 1934 Depression.

The Federal Reserve Bank of Atlanta’s GDP NOW economy tracker plunged even deeper into negative territory on Friday, falling from minus one percent to -2.1 percent. For nearly two weeks prior to this week, the tracker had shown zero growth.

The reading was pushed down by data about manufacturing and construction spending. The Institute of Supply Management said on Friday that its barometer of manufacturing activity fell to the lowest level since May 2020, when the economy was staggering from the onset of the pandemic and lockdowns. The Commerce Department’s report on construction spending showed a 0.1 percent drop, the first decline in 8 months.

I think this would be a perfect time for China to wack us as we are so distracted by the senile one running the dog and pony show. GOD HELP US, PLEASE.



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Jul 2, 2022 11:05:17   #
pegw
 
All doom and gloom. I would bet on more inflation than a big crash.
.

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Jul 2, 2022 11:09:05   #
RandyBrian
 
Capt-jack wrote:
The economy increasingly looks like it is hurtling toward a recession, no it will be a 1934 Depression.

The Federal Reserve Bank of Atlanta’s GDP NOW economy tracker plunged even deeper into negative territory on Friday, falling from minus one percent to -2.1 percent. For nearly two weeks prior to this week, the tracker had shown zero growth.

The reading was pushed down by data about manufacturing and construction spending. The Institute of Supply Management said on Friday that its barometer of manufacturing activity fell to the lowest level since May 2020, when the economy was staggering from the onset of the pandemic and lockdowns. The Commerce Department’s report on construction spending showed a 0.1 percent drop, the first decline in 8 months.

I think this would be a perfect time for China to wack us as we are so distracted by the senile one running the dog and pony show. GOD HELP US, PLEASE.
The economy increasingly looks like it is hurtling... (show quote)


Thanks for the update, Cap.
It will be interesting to see how our leftwing buddies try to spin this. Will it be Trump's fault for the tax cuts?? Will it be Putin's fault for the war?? Will it be the fault of Judges Alito and Thomas for overturning Roe?? I predict all three.

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Jul 2, 2022 11:44:23   #
Liberty Tree
 
Capt-jack wrote:
The economy increasingly looks like it is hurtling toward a recession, no it will be a 1934 Depression.

The Federal Reserve Bank of Atlanta’s GDP NOW economy tracker plunged even deeper into negative territory on Friday, falling from minus one percent to -2.1 percent. For nearly two weeks prior to this week, the tracker had shown zero growth.

The reading was pushed down by data about manufacturing and construction spending. The Institute of Supply Management said on Friday that its barometer of manufacturing activity fell to the lowest level since May 2020, when the economy was staggering from the onset of the pandemic and lockdowns. The Commerce Department’s report on construction spending showed a 0.1 percent drop, the first decline in 8 months.

I think this would be a perfect time for China to wack us as we are so distracted by the senile one running the dog and pony show. GOD HELP US, PLEASE.
The economy increasingly looks like it is hurtling... (show quote)


I believe the definition of a recession is two straihjy quarters of negative growth. We have had one. We should learn soon if it is two.

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Jul 2, 2022 12:09:51   #
elledee
 
We used to call ovomit the destroyer because he wiped out and ran more wealth and opportunity out of the country than any President in history...... but the walking dead bribem is making him look like a rookie

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Jul 2, 2022 12:12:05   #
microphor Loc: Home is TN
 
elledee wrote:
We used to call ovomit the destroyer because he wiped out and ran more wealth and opportunity out of the country than any President in history...... but the walking dead bribem is making him look like a rookie


Truth

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Jul 2, 2022 12:36:19   #
JFlorio Loc: Seminole Florida
 
pegw wrote:
All doom and gloom. I would bet on more inflation than a big crash.
.


More inflation will lead to a big crash. Interest rates are going up correct? The FEDS way of extracting money from the economy. Thus reducing inflation. Except one problem. The interest on the national debt is rising so fast we can’t pay it. Which means we could default on our debt and lose our credit rating. This idiot administrations answer to this; print more money to pay the debt. This will devalue the dollar even further while doing nothing to stop inflation. How you and your ilk can support these idiots is beyond me.

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Jul 2, 2022 12:45:10   #
RandyBrian
 
JFlorio wrote:
More inflation will lead to a big crash. Interest rates are going up correct? The FEDS way of extracting money from the economy. Thus reducing inflation. Except one problem. The interest on the national debt is rising so fast we can’t pay it. Which means we could default on our debt and lose our credit rating. This idiot administrations answer to this; print more money to pay the debt. This will devalue the dollar even further while doing nothing to stop inflation. How you and your ilk can support these idiots is beyond me.
More inflation will lead to a big crash. Interest ... (show quote)


He is absolutely right, Peg.
The WHOLE PREMISE that the Democrats base their non-economic policies on is foolish and flawed.

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Jul 2, 2022 12:54:13   #
Wonttakeitanymore
 
pegw wrote:
All doom and gloom. I would bet on more inflation than a big crash.
.


Read revelations! Get ready for Christ’s return!

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Jul 2, 2022 12:54:36   #
Wonttakeitanymore
 
Capt-jack wrote:
The economy increasingly looks like it is hurtling toward a recession, no it will be a 1934 Depression.

The Federal Reserve Bank of Atlanta’s GDP NOW economy tracker plunged even deeper into negative territory on Friday, falling from minus one percent to -2.1 percent. For nearly two weeks prior to this week, the tracker had shown zero growth.

The reading was pushed down by data about manufacturing and construction spending. The Institute of Supply Management said on Friday that its barometer of manufacturing activity fell to the lowest level since May 2020, when the economy was staggering from the onset of the pandemic and lockdowns. The Commerce Department’s report on construction spending showed a 0.1 percent drop, the first decline in 8 months.

I think this would be a perfect time for China to wack us as we are so distracted by the senile one running the dog and pony show. GOD HELP US, PLEASE.
The economy increasingly looks like it is hurtling... (show quote)

Amen! Maranatha

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Jul 2, 2022 12:55:54   #
Wonttakeitanymore
 
elledee wrote:
We used to call ovomit the destroyer because he wiped out and ran more wealth and opportunity out of the country than any President in history...... but the walking dead bribem is making him look like a rookie


Yup he’s a zombie! Just shuffling along and taking his lemmings toward the cliff!

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Jul 2, 2022 12:57:22   #
Wonttakeitanymore
 
JFlorio wrote:
More inflation will lead to a big crash. Interest rates are going up correct? The FEDS way of extracting money from the economy. Thus reducing inflation. Except one problem. The interest on the national debt is rising so fast we can’t pay it. Which means we could default on our debt and lose our credit rating. This idiot administrations answer to this; print more money to pay the debt. This will devalue the dollar even further while doing nothing to stop inflation. How you and your ilk can support these idiots is beyond me.
More inflation will lead to a big crash. Interest ... (show quote)

It’s 2008 all over again! Ivomits playing card to finish our country! Many developers will be losing their collective butts because of overbuild!!

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Jul 2, 2022 13:03:57   #
JFlorio Loc: Seminole Florida
 
Wonttakeitanymore wrote:
Read revelations! Get ready for Christ’s return!


I have often. Many things still have to happen before His return, Hopefully we won't be here. Jesus said you will hear of wars and rumors of wars, but see to it that you are not alarmed. Such things must happen, but the end is still to come. Nation will rise against nation, and kingdom against kingdom. There will be famines and earthquakes in various places. All these are the beginning of birth pains.

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Jul 2, 2022 13:05:51   #
JFlorio Loc: Seminole Florida
 
JFlorio wrote:
I have often. Many things still have to happen before His return, Hopefully we won't be here. Jesus said you will hear of wars and rumors of wars, but see to it that you are not alarmed. Such things must happen, but the end is still to come. Nation will rise against nation, and kingdom against kingdom. There will be famines and earthquakes in various places. All these are the beginning of birth pains.


Yet many, including myself say these people behind the scenes in the administration are idiots. That assumption is incorrect. They know exactly what they are doing. It just seems idiotic to us, that know this is not the way to become prosperous.

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Jul 2, 2022 14:27:12   #
jSmitty45 Loc: Fl born, lived in Texas 30 yrs, now Tn
 
Wonttakeitanymore wrote:
Read revelations! Get ready for Christ’s return!


Amen!

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