Just got a gut check on the economy!!

[rbstern]

My daughter is an economist for the government. Up until now she has been saying everything is okay. Now she called to tell us to prepare because everything is about to get much worse.

 

[letusbuyyourcar]

My daughter is an economist for the government. Up until now she has been saying everything is okay. Now she called to tell us to prepare because everything is about to get much worse.

How could it not?

 

[rbstern]

How could it not?

Large meteor impact somewhere along the Potamac?

Of course, that might leave us quibbling about what "worse" actually is.

 

[GodBlessTheUSA]

So, whatever you do, don't stop buying thing or spending any money! Don't cut back even a little bit cause that's what's going to crash the economy. When one person stops spending and doing it cause a snowball domino wreck. By local and buy often.

I appreciate the sarcasm, so this is not pointed at you:

The above (THIS) is part of the basis of the Commerce Clause. As in WIckard vs. Filburn:

During the Great Depression, Congress passed the Agricultural Adjustment Act of 1938, a law regulating the production of wheat in an attempt to stabilize the economy and the nation’s food supply. In particular, this law set limits on the amount of wheat that farmers could grow on their own farms. Roscoe Filburn, a farmer, sued Claude Wickard, the Secretary of Agriculture, when he was penalized for violating the statute. Filburn argued that the amount of wheat that he produced in excess of the quota was for his personal use (e.g., feeding his own animals), not commerce (e.g., selling it on the market), and therefore could not be constitutionally regulated. The Court upheld the law, explaining that Congress could use its Commerce Power to regulate such activity because, even if Filburn’s actions had only a minimal impact on commerce, the aggregated effect of an individual farmer’s wheat-growing exerted a substantial economic effect on interstate commerce. In terms of the Constitution, this holding offered a broad reading of Congress’s power under the Commerce Clause.


In essence: the government can, and has, fined people for being self sufficient. Oh, you have a garden and grow your own food? Well, see, we can't have that. Every tomato you grow for yourself is one more that you didn't have to buy, therefore your selfishness had hurt another farmer. Go to jail, go directly to jail, etc.

 

[thevalueman]

what's great about being a part of the ODT is knowing how well prepared all the members here are, and how much they have things covered....It's refreshing that the members here are not like most folks!!!

 

[Psilloh1]

There are four things that never slow down in any economy. Liquor, Sex, Guns and Telecom.

Fortunately, I work in telecom and have more work than ever right now with three times as much in the near future. Not only have I just hired help but I am also looking for additional GC's to take up some of the slack. With technology constantly expanding and more industries investing in communications, we are non-stop. I worked throughout all of the Rona lock downs with multiple companies throughout multiple states.

Aside from my industry, the housing market is also under a constant expansion. A good friend of mine has expanded his company 15x with new equipment, workers and multiple contracts. With the Pine Log WMA being sold and 600 acres being dedicated to housing, vast expansion is on the horizon. Sadly it's going to be mostly those 1200 sq/ft homes that touch each other.

The biggest issues I see, not only in my industry but as a general observation is the extreme lack of ethics, pride and general awareness. With more and more people being self entitled, narcissistic, and in general being narrow minded; we are in the beginning stages what I describe as a "Rude Awakening".

Add Healthcare…..

 

[OttoMan]

hopefully just a slow down and not a collapse.

I hope so too!!

 

[GFB]

My daughter is an economist for the government. Up until now she has been saying everything is okay. Now she called to tell us to prepare because everything is about to get much worse.

They're probably being told they won't get paid and that society will collapse due to debt ceiling talks. Not even being sarcastic. AFN went into 24-hour scary propaganda coverage in 2011, even canceling sports broadcasts for some general to tell you that you won't get what you need for OEF support.

 

[dhal22]

I've been sitting on not quite enough cash to buy another investment property for quite a while. The dramatic increase in property values and interest rates has me pushing back month after month. In the meantime my cash flow positive properties keep increasing the cash balance. I'll just wait this out.

 

[thevalueman]

nice to hear about your financial condition....glad your doing o.k.