Sahm Rule creator says recession indicator is picking up on something alarming
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Published 2024-08-07
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All Comments (21)
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All I know is my weekly groceries for family of 4 was $180-$220 now its $400 đą
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We are in recessions, we heading into depression and hyper in flation.
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Sometime soon this thing is going to have to be called what it is. We are way beyond recession at this point. Start telling the truth.
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I'm a retired university professor. Lately, while going grocery shopping with my wife, I wonder how the middle class manages to maintain their standard of living. Since wages do not keep up with living costs, people have to restrict consumption, and money velocity reduces. That surely leads to recession. As it gets worse, unemployment increases, people lose their homes, and so will bank failures. The first domino has fallen.
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From what I've seen no one knows anything until it's actually already happened. A whole "hindsight" environment. Its actually wild people rely on these economists as much as they do.
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A lot of us have been living in a depression for 4 years!
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Food is so high, I'm losing weight cause I don't qualify for any of 29 welfare programs
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UH, oh, cat lady paintings in the background, how ominous...
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Eggs were 1.50 a dozen when trump was president. Under Biden 7-11.00 a dozen eggs.
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Car prices rose, housing rose, merch prices rose but the hourly and salary rates didnt. everyone should have seen this coming miles away.
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More like we are in early stage collapse. We are way past recession or depression.
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It's only going to get worse.....why are we not taking care of ourselves?
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đ very clear? These people are anything but clear. Everyday...... same old same old
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"Jobs" she refers to and - be "very careful" like she says; it's "very hard to measure". Too much safe talk...
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We'll be lucky if it stops at just a recession.
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Two quarters of economic decline right?
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Nah, once groceries exceed your housing, then maybe we will admit there is an issue
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Recession !??? Who you kiddingâŠ. We are heading for GREAT DEPRESSION 2.0
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So in conclusion- no one knows anything.
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Even if the employment numbers were great and inflation were under control, the broad economy still has to deal with some crazy amounts of debt out there. This is not going to end well.
