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Opinions & Editorials Discuss 7 ways a recession could be good for you financially at the General Forum; We're ONLY in one of the worst economic situations in the history of this country, but it's not THEE worst, ...

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Old 09-28-2022, 04:31 PM
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Default 7 ways a recession could be good for you financially

We're ONLY in one of the worst economic situations in the history of this country, but it's not THEE worst, so "Chin up!" you stupid people!!!...

7 ways a recession could be good for you financially

Quote:
In his first inaugural address in March 1933, President Franklin D. Roosevelt said: “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself.”

It was the Great Depression. The unemployment rate was over 25 percent. An estimated 12 million people were out of work, about one-fourth of the civilian labor force.

If you have a personal finance question for Washington Post columnist Michelle Singletary, please call 1-855-ASK-POST (1-855-275-7678)
“More than 11,000 of 24,000 banks had failed, destroying the savings of depositors,” according to the National Archives.

Fast forward to now, and as bad as things are — rising interest rates, high inflation, stock market tumbling — the economy hasn’t imploded as it did during the Great Depression.

I have to say this because, as Roosevelt pointed out, fear itself can lead to actions that worsen your finances. While many people are hurting, there may be ways to cushion the downside.

Here are seven silver linings if we are heading into a recession...
Why not just start singing, "Always look on the bright side of death!"?...
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Old 09-29-2022, 11:51 AM
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Default Re: 7 ways a recession could be good for you financially

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Originally Posted by cnredd View Post
We're ONLY in one of the worst economic situations in the history of this country, but it's not THEE worst, so "Chin up!" you stupid people!!!...

7 ways a recession could be good for you financially

Why not just start singing, "Always look on the bright side of death!"?...
I have lost a large portion of my wealth in the last two years.

Stocks, IRA, etc.. I have enough in secure savings to buy more real estate
if and when housing prices tank. Otherwise I will have to wait until my stocks
hopefully rebound in a few years. I should be retired now at 63, but that will have to wait until I have regained some of my losses.

I feel very fortunate that we pulled enough money from our investments
to pay off our vacation home. That made this bitter pill easier to swallow.
That was the only debt we had, so things could have been worse.
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Old 09-30-2022, 07:08 AM
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Default Re: 7 ways a recession could be good for you financially

This article is the Left trying to normalize the destruction of wealth in this country due to their idiotic policies. They are trying to make the idiots that voted for them believe that the decline in the Economy is a good thing so that those same morons will keep voting for the politicians that put them in this position.

Unfortunately, it will work on many people in this country that have been indoctrinated in public schools and not taught critical thinking skills.
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Old 10-01-2022, 06:43 PM
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Default Re: 7 ways a recession could be good for you financially

my daughter bought low and sold high in one of the hottest markets in the country. her husband retrained for a different job in a similar field and they bought an RV also do air b&b's when he travels. Currently they're just waiting on the market to fall in an area they like and is centrally located to the type of work he does. they weren't failing but just bored and adventurous.
meanwhile I see a labor shortage around here everywhere.
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Old 10-02-2022, 12:08 AM
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Default Re: 7 ways a recession could be good for you financially

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my daughter bought low and sold high in one of the hottest markets in the country. her husband retrained for a different job in a similar field and they bought an RV also do air b&b's when he travels. Currently they're just waiting on the market to fall... i
Waiting for it to fall?!?!?!?!!?!?!...

From 5 days ago...

Stock market losses wipe out $9 trillion from Americans’ wealth

Quote:
Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending.

Americans’ holdings of corporate equities and mutual fund shares fell to $33 trillion at the end of the second quarter, down from $42 trillion at the start of the year, according to data from the Federal Reserve. With major market indexes falling even further since early July, and the bond market adding further losses, market experts say the current wealth losses from financial markets could total $9.5 trillion to $10 trillion.
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Old 10-03-2022, 12:20 AM
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Default Re: 7 ways a recession could be good for you financially

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Waiting for it to fall?!?!?!?!!?!?!...

From 5 days ago...

Stock market losses wipe out $9 trillion from Americans’ wealth
housing market
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Old 10-03-2022, 12:22 AM
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Default Re: 7 ways a recession could be good for you financially

Quote:
Originally Posted by cnredd View Post
Waiting for it to fall?!?!?!?!!?!?!...
Quote:
Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending.

Americans’ holdings of corporate equities and mutual fund shares fell to $33 trillion at the end of the second quarter, down from $42 trillion at the start of the year, according to data from the Federal Reserve. With major market indexes falling even further since early July, and the bond market adding further losses, market experts say the current wealth losses from financial markets could total $9.5 trillion to $10 trillion.
From 5 days ago...

Stock market losses wipe out $9 trillion from Americans’ wealth
but yeah 9 trillion but not from "households."

silly
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they're waiting on the housing market
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Old 10-03-2022, 07:19 AM
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Default Re: 7 ways a recession could be good for you financially

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Originally Posted by saltwn View Post
but yeah 9 trillion but not from "households."

silly
Once again, you display a complete lack of understanding of the economy and how everyday people interact with it. Since Biden has been elected, I have lost well over $100,000 in my investments. As I have still a few years from retirement, (even more now thanks to the tomato can that sits in the White House) I can hope that these Left-wing loonies are voted out of office and some sanity is introduced into the policy-making before my retirement, giving my investments time to recover.
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Old 10-03-2022, 08:41 AM
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Default Re: 7 ways a recession could be good for you financially

Quote:
Originally Posted by saltwn View Post
but yeah 9 trillion but not from "households."

silly
Over half of US households are invested in the stock market, the most popular means is through mutal funds. The 401K has encouraged many Americans to invest in the stock market.

https://usafacts.org/articles/what-p...ans-own-stock/

People watch their 401K balances closer than their children's Internet usage. It's going to be nigh on impossible to convince them their losses are a good thing because the rich suffer more.
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Old 10-03-2022, 10:58 AM
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Default Re: 7 ways a recession could be good for you financially

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Originally Posted by AZRWinger View Post
Over half of US households are invested in the stock market, the most popular means is through mutal funds. The 401K has encouraged many Americans to invest in the stock market.

https://usafacts.org/articles/what-p...ans-own-stock/

People watch their 401K balances closer than their children's Internet usage. It's going to be nigh on impossible to convince them their losses are a good thing because the rich suffer more.
People like Salty believe that only Rich people have 401k's, IRA's, mutual funds.

It's kind of like saying, "only rich people have jobs"
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