2024 economic outlook

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RickN

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I keep hearing the same, but I don’t think a “crash” will ever happen. My guess is that the govt will prop up the economy enough to keep everything running. A real “crash” would hurt republicans as bad as the democrats, and ALL those b@stards want to keep their jobs and hide their crimes.
Oh I do expect a crash, just not nearly as bad as that guy is predicting. I fully expect it will be just enough for Republican to pin on Biden and cronies in time for the election. I also think they could help prevent it but will not.
 

Glocktogo

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If it was Biden's fault when gas was $5/gal, is it his fault that gas right now is like $2.60/gal?
If you believe the Administrative Branch can drive energy prices through policy (and I do), then the question isn't why it's going down now. The question is why it's been so high for so long, only to drop in the final months before the national election. :(
 

retrieverman

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I expect the economy will go through a sudden upswing in November 2024, if Trump is elected.
I think the upswing will be in September and October, and then the democrats can use it to convince “81 million“ people with their heads up their @sses that they have everything under control. When it goes back to hell in December, it’ll be too late.
 

red dirt shootist

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I don't see a major crash, but I do think we will have some adjustments, some could be painful. I think interest rates on savings will be 5%, interest on mortgages, car loans, stays about the same, credit card, grab your ankles. Inflation is sucking up everything, they are lying when they tell you it's 3%, and IMHO that's why we have open borders, they are flooding the labor market with workers in an effort to drive down inflation. More workers mean cheaper wages, which means lower prices for goods, and rent. The debt load people are carrying will be a big adjustment, it can't continue, the attitude of "I don't care what it costs, just tell me what the payments are" has got to stop. Bankruptcies and foreclosures will go up, if you can learn to live below your means, you can weather the storm, lf you're good time Charley, you will have pain for ever. Health care and insurance will be another big adjustment, and it will be a huge part of the economy. What I see happening is transfer of wealth, not in the traditional thought, just the opposite, people on the lower end are paying out everything they make in bills, nothing leftover, and where is it going?,cell phone service, cable, medical, insurance, etc. And that money is going to the rich, investors, CEO's, people with multimillion dollar jobs, they are sucking the life out of poor people. The middle class is starting to feel that pressure. We are becoming a country of two classes, the haves, and the have nots. Those chickens will come home to roost.
 

undeg01

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If you believe the Administrative Branch can drive energy prices through policy (and I do), then the question isn't why it's going down now. The question is why it's been so high for so long, only to drop in the final months before the national election. :(
It is going down now because we are coming into an election year. The general public has a short memory so as long as prices are down as election nears, many will think Biden is doing a good job. For those who are more in touch with reality, you have to look at how they drove those prices down.

What Biden is doing is draining our oil reserves to drive the prices down. A month ago, our reserves were at around 40%, the lowest they have been since they were created coming out of the crisis of the 70’s. Someone mentioned bubbles bursting…well wait until we no longer have enough reserves for the demand. Fuel prices will skyrocket beyond any level we have ever seen before, which in turn will drive the Dem’s agenda for electric everything. When the infrastructure cannot support that kind of demand for electricity, what do you think is going to happen?

Yep, the worst is yet to come. Might not be in 2024, but at some point everything is going to come crashing down.
 

BallisticGuy

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If you believe the Administrative Branch can drive energy prices through policy (and I do), then the question isn't why it's going down now. The question is why it's been so high for so long, only to drop in the final months before the national election. :(

US energy production is matching opec for the first time in a while, and opec’s cuts are not keeping prices high like intended. That’s keeping WTI and Brent crude down. It’s shocking this isn’t in the media, why? We all know it goes directly against green energy. My question is how and when did we start pumping/drilling more to meet demand without more people knowing?

https://www.forbes.com/sites/gaurav...shaping-oil-market-landscape/?sh=3b099558325b
 

dennishoddy

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We are past the market speculation stage with everything parked in safe investments. CD’s are up to 5.3% for 90 day certificates, so any money we don’t spend goes into those for short time profits.
Yeah there is probably ways to beat that rate, but none safer. At this stage, safe is good.
In 2022, all and I mean all the financial pundits were predicting the economy would be in a deep recession by July of 2023. Didn’t happen so all the financial pundits are saying mid 2024 will be the deepest correction in the nations history. The ones wailing the loudest are the gold and silver peddlers. The stock market continues to rise.
Our financial guy is predicting interest rates to fall in the 1st quarter of 2024.
The lower fuel prices are putting more money into people’s pockets so Christmas spending is at near record rates this year. Holiday travel in 2023 was at near record levels to date.
I see 2024 coasting along until November. Depending on who wins will determine 2025 and beyond.
 

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