This affects us all

djpc

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... The Fed will not make the same mistakes as were made in the 1970s (raise interest rates and then cut them too quickly). The stock market went sideways for the entire decade of the 1970s. IMO, this time will be more like the early 1980s when high interest rates caused a significant recession and then the market had a great run in the 1980s. ...
Some significant differences I see now versus the 70s are 1) The federal government wasn't actively printing $trillions and dumping it into the economy, 2) the administration(s) weren't denying/obfuscating the seriousness of inflation, 3) government was not putting its thumb on the scales of free enterprise the way it is now in areas such as the transportation and energy sectors. Another consideration is the major political parties had the ability to work together 50 years ago combined with the extraconstitutional agencies being far less politicized than they are now. Seems what's happening to Main St is just acceptable collateral damage to those that fight each other for power.
 

OhioIllini

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Some significant differences I see now versus the 70s are 1) The federal government wasn't actively printing $trillions and dumping it into the economy, 2) the administration(s) weren't denying/obfuscating the seriousness of inflation, 3) government was not putting its thumb on the scales of free enterprise the way it is now in areas such as the transportation and energy sectors. Another consideration is the major political parties had the ability to work together 50 years ago combined with the extraconstitutional agencies being far less politicized than they are now. Seems what's happening to Main St is just acceptable collateral damage to those that fight each other for power.
There certainly were some non-free market approaches to curb inflation in the 70s. Most notable were the wage and price controls put on all kinds of things.

 

tjfleck6

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Funny how you seem to think you know more than my agent in Florida.

I have never voted for a Democrat for any state office in Illinois.

Oh Jeff, plenty of people know Florida on this thread and plenty of them have bought and sold Florida properties (not me). If your agent was so outstanding, he/she would be retired by now. But, like you, he/she needs the money and will continue to work. I do live in a state which is quite similar to Florida. But, you should completely discount that FACT. Arizona and Florida both draw a huge number of retirees. Both states are growing with an influx of Blue Staters. The real difference is one has an ocean of sand.....

I also know you royally screwed up and supported Biden thanks to your derangement. Even worse, after 20 months of clear-cut evidence that Biden is screwing things up even worse than Jimmy Carter, you would repeat your vote for Biden over Trump! 1.2 percent inflation is 10 percent inflation. 20 months into Trump's presidency, the NASDAQ was up around 44 percent. Under Biden it is down around 17 percent. Maybe you just don't need money to retire? You are a strange dude.

Good job on never voting for a single Democrat in Illinois. Tell me - would you vote for Jimmy Carter or Ronald Reagan if given that choice?
 

djpc

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There certainly were some non-free market approaches to curb inflation in the 70s. Most notable were the wage and price controls put on all kinds of things.

True, but now they are using non-free market approaches to create inflation.
 

JeffT818

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Oh Jeff, plenty of people know Florida on this thread and plenty of them have bought and sold Florida properties (not me). If your agent was so outstanding, he/she would be retired by now. But, like you, he/she needs the money and will continue to work. I do live in a state which is quite similar to Florida. But, you should completely discount that FACT. Arizona and Florida both draw a huge number of retirees. Both states are growing with an influx of Blue Staters. The real difference is one has an ocean of sand.....

I also know you royally screwed up and supported Biden thanks to your derangement. Even worse, after 20 months of clear-cut evidence that Biden is screwing things up even worse than Jimmy Carter, you would repeat your vote for Biden over Trump! 1.2 percent inflation is 10 percent inflation. 20 months into Trump's presidency, the NASDAQ was up around 44 percent. Under Biden it is down around 17 percent. Maybe you just don't need money to retire? You are a strange dude.

Good job on never voting for a single Democrat in Illinois. Tell me - would you vote for Jimmy Carter or Ronald Reagan if given that choice?
I voted for Ronald Reagan. It was my first presidential election.
 

BigWill

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TRUE inflation as tabulated when Jimmy was stewarding our country had DIFFERENT methods for figuring the %.

IF the same calculations were used today, the ACTUAL TRUE INFLATION would be OVER 16 % .

Let's go, Brandon !

That Jimmy was a grad of USNA is nothing for the Alums to brag about.

Moving UP interest rates has made an average $ 400,000 home with 20 % down about $700 + a month more expensive or $ 8,000 + more a year, not to mention inflation costing a couple more than $ 6,000 in hidden taxes. Losing over 12 % in the market and also killing the RE market by ANOTHER 12 % +.....and your losses really start to pile up.
 
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BigWill

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Funny how you seem to think you know more than my agent in Florida.

I have never voted for a Democrat for any state office in Illinois.
Like being a football coach, Real Estate Agent isn't rocket science.

Using more than one is just being smart, it's not being a traitor, but using their expertise in their localities, Florida is BIG and active in RE transactions.
 
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BigWill

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Oh Jeff, plenty of people know Florida on this thread and plenty of them have bought and sold Florida properties (not me). If your agent was so outstanding, he/she would be retired by now. But, like you, he/she needs the money and will continue to work. I do live in a state which is quite similar to Florida. But, you should completely discount that FACT. Arizona and Florida both draw a huge number of retirees. Both states are growing with an influx of Blue Staters. The real difference is one has an ocean of sand.....

I also know you royally screwed up and supported Biden thanks to your derangement. Even worse, after 20 months of clear-cut evidence that Biden is screwing things up even worse than Jimmy Carter, you would repeat your vote for Biden over Trump! 1.2 percent inflation is 10 percent inflation. 20 months into Trump's presidency, the NASDAQ was up around 44 percent. Under Biden it is down around 17 percent. Maybe you just don't need money to retire? You are a strange dude.

Good job on never voting for a single Democrat in Illinois. Tell me - would you vote for Jimmy Carter or Ronald Reagan if given that choice?
And One has an Ocean AND sand !
 
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tjfleck6

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I voted for Ronald Reagan. It was my first presidential election.

But now in 2020 and 2022 you would for Jimmy Carter (Joe Biden) over Ronald Reagan (Donald Trump). You have evolved.

Trump may not have the charisma or natural charm of Ronald Reagan, but his policy was as good or better than Reagan. Further, the LEFT hated Ronald Reagan in the 80s just like they despised Donald Trump in recent years.
 

BigWill

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It's amazing that the ex-Presidents named for excellence here, one was an actor and one a real estate developer and the current occupant blowing up the country is a career politician, and the one named for incompetence was a Captain on one of the most complex machines in the world, a Nuclear Submarine !
 
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tjfleck6

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Hey @nthomp @stoneaxe27 @JeffT818 - how many shots have you guys had to date? I recall Nancy saying that only a selfish moron wouldn’t get this wonder medicine.

Thus far, dementia Joe, disgusting Jill, and now Dr. Death Jab INC have now had Covid twice within 2 months? It would seem these ‘vaccines’ attract the disease they are supposed to stop. But don’t worry, you guys just need to get the latest version. See, these death jabs are like Microsoft patches, they will never end.


 
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djpc

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Absolutely. I should have added in my prior post that the non-free market approaches to curb inflation only prolonged the problem and created their own economic distortions.
Can't disagree there was a lot of bungling in the 70s. I was pretty young at the time so don't have much recollection/understanding of the play-by-play. I think the bigger difference is the gov't at that time seemed to be attempting to be helpful. Kneecapping the intermediate-term future production of N. American sourced energy in that first flurry of EOs while the covid economic turmoil was still ongoing sent a fairly clear message that dunking on the prior administration was a bigger priority for the new administration than the well being of the country. That creating a spike in energy costs (arguably the first domino to be knocked over) during a widespread supply shortage would fuel inflation shouldn't have been a surprise. That the action was taken so quickly implies he/they gave it almost no thought, unless one enjoys entertaining conspiracy theories in which case it is probably easy to assign more nefarious motives.
 

cmore79

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Hey @nthomp @stoneaxe27 @JeffT818 - how many shots have you guys had to date? I recall Nancy saying that only a selfish moron wouldn’t get this wonder medicine.

Thus far, dementia Joe, disgusting Jill, and now Dr. Death Jab INC have now had Covid twice within 2 months? It would seem these ‘vaccines’ attract the disease they are supposed to stop. But don’t worry, you guys just need to get the latest version. See, these death jabs are like Microsoft patches, they will never end.


A customer of mine, as he was leaving this morning said he was off to get his 5th shot. He had covid earlier this year and he said it was no joke and he didn’t want to get it again.

It was lost on him that he was already supposedly protected from covid after his 3rd or 4th shot and still got covid…
 

tjfleck6

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A customer of mine, as he was leaving this morning said he was off to get his 5th shot. He had covid earlier this year and he said it was no joke and he didn’t want to get it again.

It was lost on him that he was already supposedly protected from covid after his 3rd or 4th shot and still got covid…

And we laugh at @nthomp 's ancestors for believing in the miracle brew known as "Snake Oil"!

Today's lemming brigade surpasses those folks.
 

ILisBest

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309494281_470912055077515_2597156914386841507_n.jpg
 

bung23

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Metro Detroit

Once again…. Accuse the opposition of doing what they are actually doing. The scary part is there are tons of morons who believe her and her ilk.
 

Uncoach

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I don’t agree with all of this, but a lot of it is spot on.
 
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djpc

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Actually, I think his family and most of all “Dr” Jill are pathetic. They know better.
The whole electorate is culpable, we collectively knew better when we collectively elected him. May go down as one of the largest collective errors of judgement in US history.
 

OhioIllini

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The whole electorate is culpable, we collectively knew better when we collectively elected him. May go down as one of the largest collective errors of judgement in US history.
This is what happens when nearly half the electorate isn't asked to pay any Federal income tax. They lose skin in the game, lose any critical interest, and lose the willingness to apply even a morsel of critical thinking.
 

djpc

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Don’t blame me. I voted straight ticket, not straight jacket in 2020.
Me too - only time I've ever done that. But when the team wins, I get to claim a win, and when the team loses, even if I played perfectly, I have to take the loss.
 

BigWill

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I hate to think what the good Doctor, wrote her Doctoral Thesis on and where she plagiarized the material like Brandon did at Syracuse Law School.

I remember AT Syracuse at the end of semesters, when Profs would leave graded papers on a chair outside their lecture halls and "students" would sift thru the papers for the "A" grades to use the next semester !

Another time two students climbed up the Ivy to a second story Prof office to check the trash for the mimeograph papers for the final. The Prof entered the office and the two B & E kids, buffaloed him into thinking they were University Undercover Campus Police !
 
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