The Cookout

Finesse · 8/12/22

Everything has been going up as of late due to inflation. Food has gone up, gas prices are going up and down and it doesn't look like it's going to change soon.

Was this inflation due to the stimulus checks we got a while back? And everyone out there collecting pandemic unemployment during that time? I've found it a bit tough with everything going up in price.

With that being said, has this resulted in another recession? I don't know a whole lot on how recessions start, but I'm curious about them and whether or not we're in one currently.

RCNAL · 8/13/22

The American economy has been effed up for years. We are sitting on a few bubbles and when one pops it will be a domino effect. I know I will sound alarmist but the next crash will look more like 1929. And it will be global and massive. China will also go into a massive crash as it sits on the worlds biggest real estate bubble in mankind. Together both economies are about 48% or so of the world's GDP.

China knows its sitting on one, the U.S. populace doesn't realize how big it is and the politicians know but don't care. They are into the here and now and will what they have always done. Find someone else to blame, like the did in 2008.

What are you going to do to protect yourself is the real question.

Sapphire · 8/13/22

Yes. We have not seen a balanced economy since the federal reserve was put in place. You can look at charts and see the buying power of the dollar go down year after year. Things took a turn for the worse in the '60s and we could have corrected things in the '90s but Bill Clinton decided to ship a bunch of work off to China which further crippled the economy. People are only noticing now because it is kind of hard to not see. 2008/2009 was bad but this is going to be a lot worse.

MR-D-ROB · 8/13/22

RCNAL said:
The American economy has been effed up for years. We are sitting on a few bubbles and when one pops it will be a domino effect. I know I will sound alarmist but the next crash will look more like 1929. And it will be global and massive. China will also go into a massive crash as it sits on the worlds biggest real estate bubble in mankind. Together both economies are about 48% or so of the world's GDP.

China knows its sitting on one, the U.S. populace doesn't realize how big it is and the politicians know but don't care. They are into the here and now and will what they have always done. Find someone else to blame, like the did in 2008.

What are you going to do to protect yourself is the real question.

Best bet is to just stay prepared. Plan in advance and be ready for any and all possibilities!
We can't depend on anyone to help us ad black people. We have to be ready and able to help ourselves!

RCNAL · 8/13/22

As in all recessions and depressions, cash is king...to a certain extent. The government will over print as they always do in any depression but its still better to have some cash and any asset that retains its value (gold, etc.).

Debt of course will not be a good thing. Also, finding a job or business that will still be good in a recession.

MR-D-ROB · 8/13/22

RCNAL said:
As in all recessions and depressions, cash is king...to a certain extent. The government will over print as they always do in any depression but its still better to have some cash and any asset that retains its value (gold, etc.).

Debt of course will not be a good thing. Also, finding a job or business that will still be good in a recession.

Well I'm a nurse. And one thing is for sure. People are always going to get sick and need healthcare.
Probably even more so in a depression. When people are low on money they tend to neglect their health unfortunately. They may not get medicines due to not having money, put off necessary medical procedures because they can't afford them.

This leads to them being in poor health and getting admitted ultimately. In the end they still end up needing healthcare. They are just much worse off and sicker when they need it but they still need it in the end!

Jay · 8/13/22

RCNAL said:
As in all recessions and depressions, cash is king...to a certain extent. The government will over print as they always do in any depression but its still better to have some cash and any asset that retains its value (gold, etc.).

Debt of course will not be a good thing. Also, finding a job or business that will still be good in a recession.

The Federal Reserve said that they were going to reduce its balance sheet but they haven't been doing so. They made it sound like they were going to be reducing the money supply by what $86B per month and we haven't seen that.

MR-D-ROB said:
Well I'm a nurse. And one thing is for sure. People are always going to get sick and need healthcare.
Probably even more so in a depression. When people are low on money they tend to neglect their health unfortunately. They may not get medicines due to not having money, put off necessary medical procedures because they can't afford them.

This leads to them being in poor health and getting admitted ultimately. In the end they still end up needing healthcare. They are just much worse off and sicker when they need it but they still need it in the end!

What also sucks is we will see people go to ER and not pay, that could be bad for the medical industry.

educatedman23 · 8/13/22

Jay said:
The Federal Reserve said that they were going to reduce its balance sheet but they haven't been doing so. They made it sound like they were going to be reducing the money supply by what $86B per month and we haven't seen that.

What also sucks is we will see people go to ER and not pay, that could be bad for the medical industry.

This is very interesting.

RCNAL · 8/13/22

MR-D-ROB said:
Well I'm a nurse. And one thing is for sure. People are always going to get sick and need healthcare.
Probably even more so in a depression. When people are low on money they tend to neglect their health unfortunately. They may not get medicines due to not having money, put off necessary medical procedures because they can't afford them.

This leads to them being in poor health and getting admitted ultimately. In the end they still end up needing healthcare. They are just much worse off and sicker when they need it but they still need it in the end!

Nursing and most medical related fields are pretty much recession proof. Same for specifics areas of tech, or STEM related jobs.

RCNAL · 8/13/22

I won't even get into the history of the Federal Reserve which isn't even a true government agency. It's a private entity whose head is chosen by the government if that makes any sense.

It is supposed to be independent but since the 2008 recession its 100 percent compromised. America has a 5 trillion dollar budget more or less. There are bubbles that take up at least 20 percent of that. These are the same or bigger size and scope as the housing bubble that set off the 2008 Great Recession. Why was it called the Great Recession? Because we were >> this close << to being in a full blown depression. Obama propped it up but it was never fixed.

Current bubbles:
1. Credit card/personal debt bubble: 16 trillion and climbing. Charted: U.S. Consumer Debt Approaches $16 Trillion
2. Car loan debt is 1.4 trillion Auto Loan Debt Reaches a Record-High $1.43 Trillion - Experian
3. Fracking/Shale bubble, yes fracking...99% of us have no idea about this How America's 'most reckless' billionaire created the fracking boom
4. Corporate debt bubble , the total is about 20 trillion. As an example AT&T has about 180 billion in debt. That's more than most G8 countries! The Looming Corporate Debt Bubble - Securitas Global Risk Solutions LLC
5. Housing bubble U.S. facing "perfect storm" for 2008-like housing crisis: Economist

Most Americans don't have $1, 000 for an emergency 56% of Americans can't cover a $1,000 emergency expense with savings

The 2008 crash was only real estate, now there are multiple bubbles we are all juggling like a circus clown and if one drops, they all drop, domestically and globally.

educatedman23 · 8/14/22

RCNAL said:
Nursing and most medical related fields are pretty much recession proof. Same for specifics areas of tech, or STEM related jobs.

I don't see as many of our people in STEM as we need to have.

MelSelecta · 8/14/22

Finesse said:
Everything has been going up as of late due to inflation. Food has gone up, gas prices are going up and down and it doesn't look like it's going to change soon.

Was this inflation due to the stimulus checks we got a while back? And everyone out there collecting pandemic unemployment during that time? I've found it a bit tough with everything going up in price.

With that being said, has this resulted in another recession? I don't know a whole lot on how recessions start, but I'm curious about them and whether or not we're in one currently.

Living in this system is a resession for blacks always. When have we ever had enough money collectively? Keyword "collectively"

RCNAL · 8/14/22

educatedman23 said:
I don't see as many of our people in STEM as we need to have.

Exactly. There has been one constant in American history during economic hard times. Black people are hurt the most. That has never, ever changed. Ever.

RCNAL · 8/14/22

Finesse said:
Everything has been going up as of late due to inflation. Food has gone up, gas prices are going up and down and it doesn't look like it's going to change soon.

Was this inflation due to the stimulus checks we got a while back? And everyone out there collecting pandemic unemployment during that time? I've found it a bit tough with everything going up in price.

With that being said, has this resulted in another recession? I don't know a whole lot on how recessions start, but I'm curious about them and whether or not we're in one currently.

The inflation is a byproduct of previous policies, and economic trends. Inflation didn't happen out of the blue. It's a symptom. I'm shocked we didn't go into a full blown recession or depression during covid19. The only thing I can think of is that the government operates differently now than it did in the past. The U.S. treasury, the Fed, all facets of the government and quasi governments act in concert to keep it afloat. And what they are doing isn't a good thing.

The last 3 generations Gen X, Gen Y and Gen Z for the first time ever in American history will have a lower standard of living than the previous generation. Baby boomers was the last 'great' generation economically. Those boomers (white) old niggas (black) f*cked over the next generation knowingly. They paid for a lifestyle on the next generation's dime.

For example, the U.S. became a net debtor nation, meaning it owed more than it took in during the Reagan years (1980s) and its gotten worse since except for a brief period in the mid to late 90s tech boom. All other times, the country balanced its accounts after going into debt for an emergency (1930s Great Depression, 1940-1945, WW2).

The national debt can't be paid off. Well, let me say, it can but it will take everyone living like a developing country middle class citizen. Decent standard of living, you can eat and have a roof over your head fairly comfortably but nothing extra or extravagant. There is no the U.S. people will go for that.

educatedman23 · 8/14/22

MelSelecta said:
Living in this system is a resession for blacks always. When have we ever had enough money collectively? Keyword "collectively"

Agree. We make things worse by not supporting our own (overall). I see some of our people selling great products, and these people do not get anywhere near enough support. It appears to me as if the biggest sellouts, overall, tend to get the biggest share of the Black support. Since they do not tend to reinvest back into the community, our people never get to having a lot of collective money.

Sapphire · 8/14/22

RCNAL said:
Exactly. There has been one constant in American history during economic hard times. Black people are hurt the most. That has never, ever changed. Ever.

I swear that is by design. They never wanted black people to be free in America. The ones who did and were in power are long gone and now we have their racist ancestors running the government, banks, everything.

Nevilous · 8/14/22

I think we are for sure in a recession and if we are not officially in one we will be before year end it’s just confused with the metrics we’ve been using up to this point to measure what an actual recession is up to this point. This economic storm and tsunami 🌊 we have quickly approaching is something we’ve never seen coverage from many angles. War and rumors of war, global warming, natural disasters, pandemics, outbreaks, inflation, pending housing market crash, food shortages, gas price hikes, job losses, office and work spaces being reimagined we have never had so many things fall apart all at one time it’s hard to say what this is a decade from now they will write textbooks 📚 describing in new terms what we are going through and what we will experience in the near future.

The Honorable · 8/14/22

Nevilous said:
I think we are for sure in a recession and if we are not officially in one we will be before year end it’s just confused with the metrics we’ve been using up to this point to measure what an actual recession is up to this point. This economic storm and tsunami 🌊 we have quickly approaching is something we’ve never seen coverage from many angles. War and rumors of war, global warming, natural disasters, pandemics, outbreaks, inflation, pending housing market crash, food shortages, gas price hikes, job losses, office and work spaces being reimagined we have never had so many things fall apart all at one time it’s hard to say what this is a decade from now they will write textbooks 📚 describing in new terms what we are going through and what we will experience in the near future.

The reconfiguring of the CPI in the 90’s and the redefinition of recession in the Biden admin have basically made the average American blind. We can feel something huge is wrong but when the numbers come out everything is “not that bad”.

Nevilous · 8/14/22

The Honorable said:
The reconfiguring of the CPI in the 90’s and the redefinition of recession in the Biden admin have basically made the average American blind. We can feel something huge is wrong but when the numbers come out everything is “not that bad”.

Factz and it’s weird because they don’t know what to call it nor how to defines exactly what we’re in so these are some crazy times but I guess it’s time for a change and a correction in the market in ALL sectors simultaneously which I don’t think has ever happened before so we are definitely in unprecedented and unpredictable times for sure. Brace yourself and prepare for a bumpy ride the struggle and marathon continues…..

Banks · 8/14/22

I heard something recently about an inflation bill being passed by the senate. No idea if that will actually help with inflation and or stopping a recession. It'll probably result in more of a recession if anything. Or, what will happen is that this bill only helps temporarily and we'll see prices jump yet again. And who's to say more spending will help. This country is already in considerable debt, that I doubt anything will change it.

RCNAL · 8/14/22

Even if we aren't officially in a recession, the economy is effed up. And its not going to get better because both parties will not do what it takes to fix things.

Barida · 8/14/22

RCNAL said:
As in all recessions and depressions, cash is king...to a certain extent. The government will over print as they always do in any depression but its still better to have some cash and any asset that retains its value (gold, etc.).

Debt of course will not be a good thing. Also, finding a job or business that will still be good in a recession.

I've started saving in Gold and some cryptocurrency purchases (I can't trust that much though). The plan is to have some cash and some investments that can be converted to cash as quickly as when needed. The economy is messed up at the moment and we can all hope that things will get better although I can't trust this government.

Maxwell · 8/29/22

MR-D-ROB said:
Best bet is to just stay prepared. Plan in advance and be ready for any and all possibilities!
We can't depend on anyone to help us ad black people. We have to be ready and able to help ourselves!

They have never helped up in ages and they are not going to start doing it now. We are all we have got and the sooner we realise that, the better for us. The government is not there for us but themselves alone.

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