And so...the "recession" begins

OldOld said:
At your age, there is really no need to make repairs and improvements to your house, unless the house is leaking or falling apart. I am sure your house guests, if you still have any, won't care much. And in a few years, it won't be your house when you are in heaven.
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The house will pass to my daughter and son who at this stage don't plan to sell it.

I am not living alone in the house. Since my husband died a year ago my daughter has come to live with me, partly for financial reasons but mostly to keep an eye on me. She is a nurse. More recently my youngest grand daughter has joined the household because rentals in Sydney are now too expensive.

We all get along very well but there is no doubt that the old house needs some attention, as does the garden.
 
Warrigal said:
I'm 82 and I'm pretty certain I won't see much of a rebound in my lifetime.

I will carry on as usual, using my savings to make repairs and improvements to my house. At worst, I will have to live, like many other Australians my age, on the federal government aged pension. I'll get by thanks to, dare I say it (?)... socialism. I won't starve.
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We have socialism only as long as we have government. We have charity as long as we have people.

"Ask not what your country can do for you, ask what you can do for your country." --John F. Kennedy
 
gruntlabor said:
. We have charity as long as we have people.

"Ask not what your country can do for you, ask what you can do for your country." --John F. Kennedy
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Don't get me start on charity organizations. If you do your research, most charity spend majority of the incoming donation on marketing and paying their own hefty salaries and bonus. It is pure greed under the cover of charity.
 
OldOld said:
You get S&P 227% ONLY IF you bought at the 07 market bottom. How many people timed the market so precisely?
This article has very little value to explain market return for average people.
In fact I think a continuing bank CD deposit with compound interests since 07 may not be much worse than S&P, but CD gives you much better peace in mind.
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The market TOP was in October 2007, and the market bottom was early 2009.
 
Gibbon said:
If you already have direct deposit setup you only have to ensure you create the new online account as everyone that currently collects SS has been notified. It changes the way you login that's all.
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Yes, I know and I'd already done that a few months ago. But I want to reiterate the need for our members who haven't done so (or who have to sign up for SS) know the real deal. I've since posted updated information from the SS website in the another thread about social security.
 
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Pepper said:
I agree but sometimes not always possible
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Or practical. As much as I would like to see American manufacturing succeed, I still have to take into account quality and price. If it's not possible to provide that in America, I'm at a point where I understand it's a global economy. As a consumer, it's to my advantage. As a worker not so much, but we still have access to quality goods. Manufacturers recognize this too. That's why they moved their local furniture manufacturing where I live in Virginia, to overseas locations where labor is cheap. They could have stayed here, but that would have meant lower profits. Adjusting to the situation is complicated.

One of our large furniture chains here had a relatively small section in their store devoted to "American made." I have to admit, it was very high quality, solid, possibly real wood, drawers that opened smoothly and fit perfectly, but it was out of my price range. Tariffs may help fix that, but tariffs also present real standard of living issues too. None of that will affect billionaires, but normal people will pay for it.

Rob Peter to pay Paul.
 
Am not a friend of Wall Street or general materialism that I tend to criticize herein along with their politicians, the Military Industrial Complex, and their globalist attitudes that I would point to as causing much that has gone wrong in the USA. So if many of those types get pain, I won't be shedding any tears. In any case, what I think and spew herein as a peon will have no effect making no difference.

And specifically, if real estate pukes, I'll celebrate anything that drives down the current insane real estate inflation. One facet likely to lower that is decreasing pressure from immigration. Another is fewer buyers with large liquid assets.

I don't understand much about the current economic situation as for decades have generally hid myself from wealth matters and the stock market. As someone collecting high monthly SS benefits, am personally rather insulated from what happens on Wall Street but not from inflation. The kind of things I buy other than a need for a new used vehicle won't matter much. I have had CD's for about two-thirds of my assets over the past couple years but before that over my first few retirement years just let it sit shrinking in banks that reflects my low level of interest.

That noted, I still do own a trivial $4k in stock from one corporation I worked for. At one time owned several hundred thousand at a corporation received as a signing bonus plus annual employment additions that then in the 2001 Dot Com recession all went underwater, worthless haha. Oh well, easy come easy go, was still able to squirrel away 6 figures into banks from over 6 years of work there.
 
David777 said:
That noted, I still do own a trivial $4k in stock from one corporation I worked for. At one time owned several hundred thousand at a corporation received as a signing bonus plus annual employment additions that then in the 2001 Dot Com recession all went underwater, worthless haha. Oh well, easy come easy go, was still able to squirrel away 6 figures into banks from over 6 years of work there.
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My boss would brag about his successful daughter that had X thousands of stock options from her job in some dot.com outfit, and then she lost it all, including her job in the crash. I think she is OK, because she was gifted, no question about that. But Market crashes hurt. I don't think it's wise to intentionally cause them. They can happen enough without our help.
 
Pepper said:
I agree but sometimes not always possible
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Twostep said:
give an example please.
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Coffee. Yes, Hawaiian Kona and other US grown coffee beans exist, but in small quantities and an eye-watering $30-$40/lb, versus $6 and up per pound for imported coffee (pre-tariff bump).

Also fruits and vegetables when they're off season in our climate.
 
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