Thanks to Team Biden, America could soon be on the verge of economic disaster

[Elderberry]

Fox Business By Justin Haskins 8/2/2021

There are good reasons to believe that things could get much, much worse over the next year

No one knows for sure what the state of the American economy will be one year from now, but the existing evidence all points in one direction: disaster.

During the widespread rollout of the COVID-19 vaccines, countless economic analysts predicted the remainder of 2021 would be marked by rapid economic growth. The most popular theory was that as the economy reopened, pent-up economic demand would lead to a surge of activity, driving expansion at a record pace.

However, despite extremely low levels of deaths related to COVID-19, new data from the federal government suggests the economy grew at a much slower pace than expected in the second quarter of 2021.

Many analysts were predicting 8.5% growth, but a report from the Commerce Department estimated gross domestic product improved by just 6.5%, a 26% difference. The Commerce Department also slightly revised down its estimates for first-quarter GDP growth, from 6.4% to 6.3%.

According to Paul Ashworth, the chief U.S. economist at Capital Economics, the economy’s disappointing performance is a strong sign that government "stimulus provided surprisingly little bang for its buck."

The economy’s relatively slow growth is a clear indicator that the Biden administration’s economic strategy of increasing employment through government welfare and stimulus programs isn’t working as expected—which should worry policymakers, considering that the Biden administration’s plans to improve economic growth in the future also rely on this same flawed thinking.

More: https://www.foxbusiness.com/politics/biden-america-economic-disaster

[Kamaji]

We're slouching into Stagflation, 2.0.  A stagnant real economy, with raging inflation.

[sneakypete]

Which means that Biden is doing a bang-up job!

You MUST destroy something before you can replace it with something else.

[240B]

I am prepared and have been preparing for years.
Now, I find myself spending money on luxury items from Amazon and Groceries because I have a paranoid feeling that it is best to spend the money now while it still has value, rather than save it until it becomes worthless. I cannot fit a single other thing in my freezer or refrigerator. It is already over the top. Have bought everything I think I will need when there is no money, no electricity, no nothing.

That week long freeze last winter was good practice. I know as a fact I can make it for at least a year with the provisions I have on hand now. After that, I will have to roam the streets and take whatever I need, whatever is available.

There will come a time soon when China will move on Taiwan, Japan, Philippines, Guam, and Korea. When they do, they will crash the American dollar and possibly even gold. I know I would. Gold/Bitcoin has no intrinsic useful value without a functioning economy. That is when I bump into survival mode if necessary.

[sneakypete]

I am prepared and have been preparing for years.
Now, I find myself spending money on luxury items from Amazon and Groceries because I have a paranoid feeling that it is best to spend the money now while it still has value, rather than save it until it becomes worthless. I cannot fit a single other thing in my freezer or refrigerator. It is already over the top. Have bought everything I think I will need when there is no money, no electricity, no nothing.

That week long freeze last winter was good practice. I know as a fact I can make it for at least a year with the provisions I have on hand now. After that, I will have to roam the streets and take whatever I need, whatever is available.

There will come a time soon when China will move on Taiwan, Japan, Philippines, Guam, and Korea. When they do, they will crash the American dollar and possibly even gold. I know I would. Gold/Bitcoin has no intrinsic useful value without a functioning economy. That is when I bump into survival mode if necessary.

@240B

I am predicting that will happen before the 2024 elections. Most likley immideately prior to the elections because voters don't like to change leaders at the beginning of a crisis,the pols will be scrambling around playing CMA,and people like Soros will be spending money where it needs to be spread to further confusion.

[240B]

Bought this thing recently, with only one solar panel.
Not a generator. It is a fairly powerful rechargeable battery pack.
Should be able to run my freezer on it, if I ever need it.
Better to have it and not need it ...

[thackney]

What was the brand and specs?

[roamer_1]

What was the brand and specs?

That looks like a Jackery... probably their 1000 Wh model

[roamer_1]

That's about fifteen hundred bucks, sitting right there.

[sneakypete]

That's about fifteen hundred bucks, sitting right there.

@thackney   @roamer_1

Then again,given the way things are going,you won't be able to buy a baloney sandwich with 1500 bucks a year from now.

If you think you are going to need it and you can afford it,buy it now.

[roamer_1]

@thackney   @roamer_1

Then again,given the way things are going,you won't be able to buy a baloney sandwich with 1500 bucks a year from now.

If you think you are going to need it and you can afford it,buy it now.

I been messin with that stuff... Honestly, it is way overpriced. About a buck a watt for just the powerpack. I am now looking onto making my own. 

[240B]

That looks like a Jackery... probably their 1000 Wh model

Yes ... Jackery

https://www.jackery.com/?sscid=81k5_3uwqp&

[berdie]