7 Ways a recession Could be Good for You Financially
Washington Post,
by
Michelle Singletary
Original Article
Posted By: Frederic F. Frew,
9/28/2022 9:42:23 AM
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.
“More than 11,000 of 24,000 banks had failed, destroying the savings of depositors,” according to the National Archives.
Reply 1 - Posted by:
PChristopher 9/28/2022 9:52:08 AM (No. 1289967)
Paywall
15 people like this.
Reply 2 - Posted by:
MDConservative 9/28/2022 9:52:35 AM (No. 1289968)
After decades of easy money by any standard that promoted Potemkin prosperity built on credit, the nation quakes to hear the R-word. Some advocate continuing the easy money to create a "soft landing." Here's your fork in the road...are you willing to spend several years piddling on the edges while inflation continues at 8 to 10% annually? Or, are we willing to take the medicine to bring our economy back into balance by ending the cheap money escapade? You aren't going to get both. Yes, people will hurt. The stock market will continue to fall a bit further. On the other hand, we can repeat the 15 years from 1968 to 1982 when our government and fiscal leaders allowed the dollar to shrink to a buying power of 37 cents. Take your pick. Place your bets.
9 people like this.
Reply 3 - Posted by:
LanceLink1 9/28/2022 9:58:58 AM (No. 1289970)
Yeah, losing $500k of my retirement I worked forty plus years for is SOOOOO good for me.
42 people like this.
Reply 4 - Posted by:
Pearson365 9/28/2022 10:06:59 AM (No. 1289980)
Fully expect the Biden/DNC cultists at the WaPo to write:
7 Ways a nuclear war Could be Good for You Financially
Washington Post, by Michelle Singletary
26 people like this.
wapo is source.... I stopped reading when I saw that.
20 people like this.
Reply 6 - Posted by:
Sanchin 9/28/2022 10:14:58 AM (No. 1289986)
The Bank of England has capitulated on Quantaive Tightening (QT) today and will go back to Quatative Easing (QE) after the implosion of the Bond (Gilt) Market. This will probably happen here in the next couple of months as well. They are unable to tame inflation because MILLIONS will be forced out of work to do so. Retirement accts will be wiped out.
7 people like this.
Reply 7 - Posted by:
Subsuburban 9/28/2022 10:27:11 AM (No. 1290000)
A few more suggested topics;
"How Ebola can be good for your health."
"How a house fire can be good for spring cleaning."
"How a thirty-seven car pile-up can be good for your car's paint finish."
I'm sure you can come with a few more in this vein.
24 people like this.
Reply 8 - Posted by:
Jesuslover54 9/28/2022 10:29:12 AM (No. 1290003)
MDConservative is blowing smoke, as so often. Must be buddies with IowaDad.
19 people like this.
Reply 9 - Posted by:
Rumblehog 9/28/2022 10:30:58 AM (No. 1290007)
Other WaPo headlines sure to come next:
"5 Ways Cancer Could Actually Be Good for You"
"It's Not a Brain Aneurysm, It's Opportunity"
"House Fire Devastation Doesn't Have to Be That Way"
"Side Benefit: Loss of a Child Brings Families Together"
13 people like this.
Reply 10 - Posted by:
Highvoltage 9/28/2022 10:34:19 AM (No. 1290016)
Take your poisonous inflation and shut up! Typically wapo hype to defend this failed administration. The people paying inflation prices know who to blame.
6 people like this.
Reply 11 - Posted by:
chance_232 9/28/2022 10:39:28 AM (No. 1290028)
Oh Happy Days Are Here Again!!!
8 people like this.
Reply 12 - Posted by:
Pearson365 9/28/2022 10:41:20 AM (No. 1290030)
#6, the Federal Reserve is raising interest rates in an attempt to control inflation while Biden and Dems are simultaneously doing everything possible to make inflation worse. While the Fed can raise the cost of borrowing, it cannot remove Biden’s constraints on energy production, Biden’s mad spending or the imposition of more costly regulations on businesses.
What’s clear is that when unemployment rates rise, Biden and his goons will blame the Fed. If Repubs manage to overcome Dem election fraud in 6 weeks, Biden and his handlers will then blame the GOP for the recession, for the high costs for food and energy and even fentytal epidemic unleashed on America by Biden’s refusal to secure our southern border.
6 people like this.
Reply 13 - Posted by:
formerNYer 9/28/2022 10:42:00 AM (No. 1290031)
I won’t give the washing compost a click
But they are proving they are no long journalists and just shills for the DNC
7 people like this.
Reply 14 - Posted by:
Vaquero45 9/28/2022 10:50:42 AM (No. 1290047)
FTA: “Your Used Car Is Worth More”.
What utter nonsense.
9 people like this.
Reply 15 - Posted by:
john56 9/28/2022 10:53:47 AM (No. 1290051)
Yeah, tell that to my 401K plan.
10 people like this.
Reply 16 - Posted by:
nhveritas 9/28/2022 11:16:54 AM (No. 1290074)
Yes, wiping out my 401k and purchasing power subsequent to my retirement is so good for me. Thank you to the Brandon cabal. Now you just need to raise my taxes more, for all of those meaningful government programs that only make the problems worse, again, and I will be even better off
9 people like this.
Reply 17 - Posted by:
Stencil 9/28/2022 11:18:17 AM (No. 1290076)
As to #8's comment: #2 is one of the most consistently thoughtful and lucid posters on this forum. The smoke you see blowing is from the smoldering inflation fires that all these years of loose monetary policy combined with idiotic fiscal policy have kindled.
6 people like this.
Reply 18 - Posted by:
WhamDBambam 9/28/2022 11:27:23 AM (No. 1290088)
A Funcession!
6 people like this.
Reply 19 - Posted by:
Sanchin 9/28/2022 11:30:44 AM (No. 1290092)
In the 80's when Volker raised rates this alone did tame inflation; there was an emphasis on lowering taxes and reducing regulation to drive growth. Not the case today. In addition, 401ks were just beginning to become popular so the interest rate increases were not affecting as many retirement plans as today. Obama and his team along with Bush began this easy money and it has continued ever since.
4 people like this.
Reply 20 - Posted by:
TJ54 9/28/2022 11:53:08 AM (No. 1290105)
And if a Republican were in the White House now, this cheap propagandist would say the polar opposite. Hopefully she will be out of work soon!
5 people like this.
Reply 21 - Posted by:
DVC 9/28/2022 12:39:03 PM (No. 1290136)
The CommiePost is going to tell us how a collapsing economy is GOOD FOR US.
No thanks, I'll stick to non-fiction on this topic.
2 people like this.
Reply 22 - Posted by:
LeeBertie 9/28/2022 1:08:38 PM (No. 1290159)
FANTASTIC!
I can sell my car, get a 3% interest rate to profit off a 8% inflation rate, AND take a European vacation!
Let the good times roll.
2 people like this.
Reply 23 - Posted by:
Proud Texan 9/28/2022 1:13:39 PM (No. 1290167)
Since one of the first things people give up during a recession or depression are luxuries, and a newspaper is definitely a luxury, not a need, I wonder how the author is going enjoy all the "good points' of it once it gets canned from its job.
I use "it" because who knows what "its" pronouns are today since it works for the Washington Post.
On another not, I often think the same thing as #8 about #2's posts, but I read them anyway because #2 sometimes brings up points that I haven't thought of, and I learn something new, which is what I am on here for.
9 people like this.
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Most Recent Articles posted by "Frederic F. Frew"
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Comments:
Typical formula from the left for all bad things their policies bring about: 1) It's not happening, 2) OK, maybe it's happening a little, but it's not our fault, 3) It's happening, and here's why it's a good thing...We have reached stage 3 on the recession.