Does anyone else see an economic crash coming?

[Supervisor42]

The markets and the economy aren't the same thing.

Ben

That is true.
But both recessions I lived thru, the stock market marched lockstep, downhill with the economy.
Don't make me break out the annoying graphs.

 

[sonya123]

I am pretty sure if inflation goes up, the stock market goes up too because people take their money out of cash

 

[Neb]

Please elaborate. I have some thoughts but I'd like your perspective.

Not my area of expertise but...

Currently the economy may be a recession but the markets are doing well now.

Ben

 

[Haertig]

Stay in your ivory tower among friends of your same ilk.....there are a bunch of average people out there that are going to crash and burn as the economy does another pump and dump.

Why the hostility for stating the truth? Spending money that one doesn't have is indeed a bad plan that will inevitably bring problems for you. Acknowledging that fact and warning against getting caught up in it is not an "ivory tower" thing.

The only way to get swamped in credit card debt is to put yourself there by your own actions. A bad economy may indeed deny people the ability to buy things they want and in some cases things they need. However, buying those things one can't afford using a credit card that one can't (or doesn't intend to) pay off is not a reasonable fix for the situation. That only makes the situation worse. You'd be better off just stealing things in the first place. There's a chance you won't get caught that way. Not so if you put them on a credit card.

 

[montanabill]

I am a bit raw about the current state of the nation...people get barraged with credit card offers from every institution. And yes I know crazy interest rates and fees.
Right now there are people who are being priced out of buying groceries, maybe it is just here in parts of Montana where the wages have been low for a long time and just recently have come up to the point we are one of the few states that supposedly wages are keeping up with inflation..
Except inflation doesn't take in the rise in food costs..
Car insurance has risen, home insurance has risen, taxes have really gone up.
Food prices have gone up
and rent has doubled on a lot of lower income housing.
So....... many of the people my heart goes out to are not charging a cruise or new car on credit cards.....
This next year should be interesting.