Will the economy collapse?

I would like to get some insight from the people here. I was just getting on my feet selling used cars back in 08 then the recession hit and no one had cash to buy them. It seems like things never went back to the way they were despite the news saying otherwise. I remember when your average joe could fork over a thousand or so quite easily for a set of wheels, and people used to sell their cars for nothing just to get it out of the driveway and get a later model....not so these days.

This current situation seems much worse, and I worry a couple of stimulus checks in the mail aren't going to do much.

What's going to happen economically speaking?

Thanks.(edited)

Re: Will the economy collapse?

Will it collapse, No. Will it take a beating, Yes. Very soon will be the time to buy and people will do just that and they will buy in bulk.

Re: Will the economy collapse?

The DOW is on track to have it's worst month since the Great Recession. Will it be as bad? Probably not. Could it be as bad? It's possible. We really don't know yet

Re: Will the economy collapse?

> Nick Haber Wrote:

> -------------------------------------------------------

> The DOW is on track to have it's worst month since the Great Recession.

> Will it be as bad? Probably not. Could it be as bad? It's possible. We

> really don't know yet

time to buyyyy :D

Re: Will the economy collapse?

> Chris Szuba Wrote:

>

> time to buyyyy :D

Not yet, soon.

Re: Will the economy collapse?

Moped Lar (OFMC) /

Great question. I don’t think Anyone knows definitively what will happen to our economy, but the early signs and signals are not good.(edited)

Re: Will the economy collapse?

punkrock randy /

We’re hoping to get a deal on a house during this dip, sick of throwing away fuchin’ money on rent!

Re: Will the economy collapse?

> Chris Szuba Wrote:

> -------------------------------------------------------

> > Nick Haber Wrote:

>

> > -------------------------------------------------------

>

> > The DOW is on track to have it's worst month since the Great

> Recession.

>

> > Will it be as bad? Probably not. Could it be as bad? It's possible. We

>

> > really don't know yet

>

> time to buyyyy :D

People were saying that last week. If you buy the dip be prepared to lose your ass and hold onto it for a few years til you can make your money back

Re: Will the economy collapse?

Pushrod Fifty /

Could be as bad as 08 but with the tech sector developing so fast as far as electric cars, solar, IT, etc., the marketplace is so much broader. That could lead to a faster recovery.

Re: Will the economy collapse?

Brad William /

Economic ills have some analogues to a viral health pandemic. Or a forest fire. Harsh truth, economy wise, is that some clearing of the weakest, the overvalued, the poorest performing, will take place. If wiser heads prevail, some innoculating factors will be set in place to have us better prepared for the "next one".

Collapse is a relative point. Some think it has done so already. For some it literally has. No job, no savings, rent due, 1000usd hasn't hit the mailbox yet. Some would be just as happy to see it collapse entirely because they are in a position to ride it through and make gold with the leftovers.

The vast majority will face irrevocable losses, more here, less there. Too little is predictable ATT to forecast degrees.

Having the resource cushion to take advantage, at some point, in collapsing prices of "discressionary" items like new homes, cars, rec vehicles, cameras, computers, etc is just one example of the range here. This experience is, without a doubt, going to affect people's attitudes about personal debt and personal savings levels, "cushions", for quite a while into the future...in a very positive way i think.(edited)

Re: Will the economy collapse?

This is a tough call, and honestly the threat of economic collapse scares the hell out of me worse than the potential infection, I honestly have to force myself to watch the news, and I feel just awful afterwords, can't concentrate etc....the idea of being unable to take care of myself financially is terrifying, but I think if they can get a handle on this quickly, the recovery will be swift, I hope.

Re: Will the economy collapse?

This will leave some serious scars. I'll stop short of saying we're fucked but this will be a loooong time before anything gets back to the normal we used to know

Re: Will the economy collapse?

I really hope it recovers quick and i am optimistic it will...it might though get some attention to why us old folks lived as we have in starting young in looking to the future ..

Re: Will the economy collapse?

> punkrock randy Wrote:

> -------------------------------------------------------

> We’re hoping to get a deal on a house during this dip, sick of throwing

> away fuchin’ money on rent!

I'm seeing some very low prices on houses here in the SF south bay area, I don't know about where you live but it might be that time. Mortgage rates are at a all time low so you might get good rates. Talk with a reality pro.

Re: Will the economy collapse?

Hey kid, one word. Mopeds....

Re: Will the economy collapse?

Brad William /

Mr. McGuire: I want to say three words to you. Just three words.

Benjamin: Yes, sir.

Mr. McGuire: Are you listening?

Benjamin: Yes, I am.

Mr. McGuire: Precious Bodily Fluids.

Benjamin: Exactly how do you mean?

Mr. McGuire: There's a great future in Precious Bodily Fluids. Think about it. Will you think about it?

Re: Will the economy collapse?

> punkrock randy Wrote:

> -------------------------------------------------------

> We’re hoping to get a deal on a house during this dip, sick of throwing

> away fuchin’ money on rent!

Good luck to you my friend. Nothing like the feeling of becoming a home owner.....well until property taxes come due..haha

Re: Will the economy collapse?

Jimmy Cincinnati /

I'll stop short of saying we're fucked but this will be a loooong time before anything gets back to the normal we used to know

I believe this is a dangerous virus and we are going through a hard time, but Im a bit optmistic too. Im hoping to see some changes to our way of life for the better, so Im really hoping something great stems from all this mess we are in right now.

Re: Will the economy collapse?

I was just contacted by the hospital auxiliary I used to volunteer for I may be going in for training in a day or two.

As I was volunteering with the auxiliary several years ago when I was doing Ski Patrol.

At this point the county has only 17 beds and pretty much nothing happening from the feds thank you Don Your Leader is doing a good job letting America get infected, hopefully I won't have to be stacking bodies in the reefer truck behind the hospital.

After all in the eyes of Don and his twin brother Donald T diaper toe, corporations and Easter services are more important the safety and lives of the general public on planet Earth......

Re: Will the economy collapse?

I think the stock market went up 2000 points today. Am I wrong?

Re: Will the economy collapse?

Stock market does not equal our economy. The stock market is based purely on speculation and the probability of potential profits. The fact that the government set guidelines for what businesses are to be restricted and or limited in this quarantine is the only reason there was an up tick. Shut the fuck up don.

Re: Will the economy collapse?

Overpriced Parts /

Like it or not retirement funds, Insurance funds, banks, hospitalization funds, business funds, pretty much everything, you name it are tied into the Stockmarket,

Great news! A Deal was agreed upon with house and senate so all it needs is a vote and signature oh ya and a time out before its passed to for politicians to do little personal business if you know what I mean:

D89DD890-4F62-4521-9FCA-2D3D08F2F990.jpeg

They actually started to make their trades days ago that’s why it took so long for this deal to get done, they needed more time, if it wasn’t for insider trading there would be no trading at all,

Re: Will the economy collapse?

Don over here trying to bounce dead cats.

Re: Will the economy collapse?

You'll actually like this tidbit, Ken.

One of the handful of companies just granted emergency FDA approval for a 45 minute COVID test is owned by a conglomerate called Danaher Corporation.

Danaher was founded by two brothers who made billions as corporate raiders in the 80's buying and stripping successful businesses of everything for their profit.

Fast forward 30 or so years and one brother, Mitchell Rales has amassed a literally priceless collection of art housed in his very own private museum (wtf).

There was one person who helped him through his entire art buying. Just one guy who guided him and bought pieces on Rales' behalf and told him what to buy and sell and when.

That one guy is Robert Mnuchin.

US Treasury Secretary, Steve Mnuchin's FATHER.

We're this close to pitchforks and torches, my friend. I hope one day we all put aside our differences and together we can drag these corrupt lying monsters through the streets like Mussolini.

Re: Will the economy collapse?

The executive of corporations are ensuring the government is increasing the distance between what is quickly becoming the "haves and have nots" financially. All of these "stimulus packages" are giving a lot of cash to the stock markets and very little to citizens and promoting the 'trickle down' effect (I hope folks aren't still waiting for their trickle down from the Reagan era - lol)

Governments need to be elected who will help citizens to afford to live, divide the same dollar value 'stimulus' amongst the people who have filed a tax return in the previous year and let the money 'trickle up'.

Re: Will the economy collapse?

Yes Ken you’re correct a lot is tied into the stock market, retirement is a scam, insurance is a Ponzi scheme, banks take your money and gamble with it, publicly traded corporations pander to share holders more than their employees causing an inherent cruelty to the workers who actually generate the revenue to maximize dividends for the shareholders. I hope the stock market goes down, it’s such a strange modern abstract of what business is.(edited)

Re: Will the economy collapse?

Re: Will the economy collapse?

> Jeff Parr Wrote:

> -------------------------------------------------------

> > punkrock randy Wrote:

>

> > -------------------------------------------------------

>

> > We’re hoping to get a deal on a house during this dip, sick of

> throwing

>

> > away fuchin’ money on rent!

>

> I'm seeing some very low prices on houses here in the SF south bay area,

> I don't know about where you live but it might be that time. Mortgage

> rates are at a all time low so you might get good rates. Talk with a

> reality pro.

How low is low? Last time I looked you were looking at $700,000 for a shitty 1 br house.

If love to move down there. Have family in Hayward.

Re: Will the economy collapse?

Daniel,the Socialist says: ` I hope the stock market goes down, it’s such a strange modern abstract of what business is.'

You are a great citizen. We'd all like to have your attitude. LOL!

Re: Will the economy collapse?

There is nothing wrong with wanting change don. The system this country set up aided you. You grew up in an economic candyland planted by WWII and that's great!

Generations born later arent lucky enough to be in a position to do what you did. I will never retire unless I buy a house in an unincorporated area with cash. O can't count on any help from my govt or a bank..

And skilled trades aren't even promoted in HS!!!? Man I wish they had been.

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