The first half of 2023 will be rough. I think earnings reports have still been

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Nov 29, 2022
5:36:44pm

TailgateU All-American

The first half of 2023 will be rough. I think earnings reports have still been

generally positive because people kept spending, but my guess is this holiday season will be the last of the spree. People are already hurting and it's going to get worse. Credit card use is up, which will eventually lead to more financial hardship. "Free" money, including easy credit card spending, will dry up. We will have to pay the piper and it's not going to be pretty.

Credit card use:

2022 Credit card debt and spending statistics in the US | finder.com

Americans are $787 billion in credit card debt. See all credit card statistics in the US, including debt, interest rates and delinquencies.

https://www.finder.com/credit-card-statistics

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TailgateU

Bio page: TailgateU
Joined: Aug 16, 2017
Last login: Apr 29, 2024
Total posts: 10,696 (6 FO)

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Messages

Author

Time

Are we officially in a recession yet?

conetah

11/29/22 8:24am

Depends on the newest definition. Under the old one, yes.

Benfica1

11/29/22 8:26am

Instead of looking at all the current data that may suggest it, the official

runitup590

11/29/22 8:26am

No. But we are experiencing inflation, shrink-flation, a dropping housing

IBe_WhyYou

11/29/22 8:30am

The HARD recession won't hit till the first quarter of 2023. Watch.

bleedsblue

11/29/22 1:44pm

The first half of 2023 will be rough. I think earnings reports have still been

TailgateU

11/29/22 5:36pm

We have a Dem POTUS..so no...if it were a GOP POTUS then yes

Don_Juan_El_Guapo

11/29/22 8:43am

Sadly, this is 100% correct.

BlueBlood94

11/29/22 8:51am

Could you imagine the media reaction to this inflation if we had a republican

Ojiisan

11/29/22 8:56am

Would we have THIS inflation with a Republican President? Inflation, yes, 8%, no

11/29/22 2:22pm

“Officially” no. But when you look back at this time period 5 years from now I think we’ll say we were

JollyGreenGiant

11/29/22 8:59am

All 3 of my brothers got laid off in the last 3 months.

Yucatan

11/29/22 9:06am

To be fair, this isn't just Biden's fault.

conetah

11/29/22 9:11am

Of course, I know that. He definitely isn’t helping the situation though.

Yucatan

11/29/22 9:21am

I don't think he's capable of critical thinking anymore.

TailgateU

11/29/22 5:38pm

It is mostly his fault. His "war on fossil fuels' is a major contributor.

coolblue

11/29/22 10:01am

We often say Biden's doing a lousy job, but actually, he's doing what he wants.

IBe_WhyYou

11/29/22 11:30am

Exactly. What appears to be incompetence is often intentional execution.

Yucatan

11/29/22 11:35am

I do blame Biden for a lot, but the last 10 months under Trump laid much of the

TailgateU

11/29/22 5:40pm

Um. You mean Covid? And getting the vaccine w/ distribution plan?

Benfica1

11/29/22 6:25pm

I was talking about stimulus payments and pressure on the Fed to drop rates.

TailgateU

11/29/22 8:49pm

and then exacerbated by Biden.

Benfica1

11/29/22 10:04pm

Correct.

TailgateU

11/30/22 12:09am

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