Recession Expected, Worst Of It In Europe... CEOs Agree With Analysts

[Better Day 5,766]

Just now, Nathan said:

Your entitled to your opinion, but you clearly have no understanding of economics.

Boris is garbage, but factually he isn’t causing a global recession. That’s just blind hatred that invalidates other arguments you have regarding Scotland leaving the U.K.

No, it’s just blind hatred towards his economic policies. Everything his Government has done has led to the recession hitting the UK. 

[Nathan 2,079]

28 minutes ago, Miss Dolly said:

No, it’s just blind hatred towards his economic policies. Everything his Government has done has led to the recession hitting the UK. 

Again, it’s a global downturn. While Boris and his corrupt cronies have certainly damaged our economy for decades to come (along with 52% of the population) you cannot argue in good faith that it’s his fault we are in a recession.

it’s a GLOBAL recession, it was always going to hit the U.K.. we can however talk about how his policies will impact our ability to get though it and the damage it’s going to cause. 

[Better Day 5,766]

7 minutes ago, Nathan said:

Again, it’s a global downturn. While Boris and his corrupt cronies have certainly damaged our economy for decades to come (along with 52% of the population) you cannot argue in good faith that it’s his fault we are in a recession.

it’s a GLOBAL recession, it was always going to hit the U.K.. we can however talk about how his policies will impact our ability to get though it and the damage it’s going to cause. 

Global or not, he’s too blame. I will be taking no more questions right now. 

[TEANUS 16,140]

3 hours ago, TortureMeOnReplay said:

The president is just a figurehead in this. Biden hasn't affected a single economic outcome positively or negatively, because he isnt the one creating or stopping any laws. If bills made it to his desk and he refused to sign them I'd think differently, but there's nothing even making it's way to him. 

I agree with you in a lot of sense, but the president and his administration could still do things to curb what’s all happening. It’s not necessarily what they do or don’t cause but how they react. They haven’t done anything on a federal scale to curb high gas prices or to curb inflation caused by the extra stimuli last year. Instead of increasing domestic gas production they opted to try to buy from someone else and they haven’t tried to eliminate unnecessary taxes, etc. or to (at least temporarily) mandate companies from price gauging to keep prices lower, instead of curbing inflation they’re talking about creating more in the long term by forgiving student debt 

[Sepsami 20,901]

So do I buy a house now or after?? 

[nATAH 56,849]

12 minutes ago, Sepsami said:

So do I buy a house now or after?? 

neither

[Nathan 2,079]

56 minutes ago, Miss Dolly said:

Global or not, he’s too blame. I will be taking no more questions right now. 

 

 

[Hyoha 1,633]

33 minutes ago, Sepsami said:

So do I buy a house now or after?? 

If you can afford one, buy it literally right now. Inflation is a problem everywhere you look and real estate is one of the only investments worth considering at the moment. You just need to make sure you’re not purchasing anything overpriced.

[Economy 52,838]

1 hour ago, Nathan said:

Again, it’s a global downturn. While Boris and his corrupt cronies have certainly damaged our economy for decades to come (along with 52% of the population) you cannot argue in good faith that it’s his fault we are in a recession.

it’s a GLOBAL recession, it was always going to hit the U.K.. we can however talk about how his policies will impact our ability to get though it and the damage it’s going to cause. 

He/She has a strong opinion and has made up his/her mind. I think we should just leave it alone 

[Economy 52,838]

2 hours ago, TEANUS said:

I agree with you in a lot of sense, but the president and his administration could still do things to curb what’s all happening. It’s not necessarily what they do or don’t cause but how they react. They haven’t done anything on a federal scale to curb high gas prices or to curb inflation caused by the extra stimuli last year. Instead of increasing domestic gas production they opted to try to buy from someone else and they haven’t tried to eliminate unnecessary taxes, etc. or to (at least temporarily) mandate companies from price gauging to keep prices lower, instead of curbing inflation they’re talking about creating more in the long term by forgiving student debt 

You want to lower gas prices by cutting the taxes there to lower inflation but are opposed to cutting student debt because it would cause inflation????

 

Both would leave more money in people's pockets to consume more (which the economy currently cannot meet more demand as we're hitting productive capacity) so really they are both inflationary. Being for one and not the other to me seems a little contradictory

 

It may seem like lowering gas prices would lower inflation because it's a bill no one likes paying but as long as we're up against capacity and demand already exceeds supply, any reduction in prices from one source would simply result in that inflation shifting else where

 

It would nevertheless be an equalizer since low income people spend a higher percentage of income on gas and be worth it for them even if it heated up prices even more so elsewhere

[AsleepOnTheCeiling 6,939]

4 hours ago, TEANUS said:

I agree with you in a lot of sense, but the president and his administration could still do things to curb what’s all happening. It’s not necessarily what they do or don’t cause but how they react. They haven’t done anything on a federal scale to curb high gas prices or to curb inflation caused by the extra stimuli last year. Instead of increasing domestic gas production they opted to try to buy from someone else and they haven’t tried to eliminate unnecessary taxes, etc. or to (at least temporarily) mandate companies from price gauging to keep prices lower, instead of curbing inflation they’re talking about creating more in the long term by forgiving student debt 

I could be wrong, but aren't taxes on gas paid for by companies and then passed on to consumers? So if he cut some of the taxes temporarily, the gas companies wouldn't have to cut prices and they'd pocket the savings?

[Guest]

This gives me immense anxiety. I'm already feeling the increase in gas and food prices' impact on my paycheck and I've had a few financial setbacks in only the past year that has really set me back. In addition to prior financial commitments like hospital bills from surgeries, etc.

[Economy 52,838]

2 hours ago, TortureMeOnReplay said:

I could be wrong, but aren't taxes on gas paid for by companies and then passed on to consumers? So if he cut some of the taxes temporarily, the gas companies wouldn't have to cut prices and they'd pocket the savings?

Technically they could but generally gas stations always have a certain margin they run on because they still have to compete with other gas stations. The markup will naturally vary by location depending on how competitive that area is (or isn't)

 

Presumably they'd have to pass on the savings or risk customers going to other gas stations

 

But I suspect it wouldn't be a rush to the bottom. Probably a very slow trickle as one gas station drops the price a little to attract the customers then another does it by more to outdo them etc etc until finally prices are back down to their normal margins in which they can't fall anymore without compromising their business

 

But I'm sure it would take time. No one would be in a rush to cut prices so the drop would probably take time.  Gas stations always raise prices fast when they have to to cover a surging price of oil but when the prices fall they always take their sweet time to drop back down  but eventually they do

 

I find it ironic tho that even Liberals and Progressives want gas price relief so badly. They are pro carbon taxes to MAKE OIL AND ALL FOSSIL FUELS MORE EXPENSIVE so as to discourage their use and shift towards greener energy. They should be happy this is happening. Isn't it what they wanted? Or now that it's occured they realize they don't like what it looks like? 

 

I know here in Canada everyone was bitching about the carbon tax even before the price of oil surged and even tho the Government refunds us most of the money so the carbon tax doesn't actually cost us as much as ppl make it out to 

[Luc 4,776]

Recessions are a normal part of capitalist economies. The one in 2008 was unique in its size. Not every recession has to be that bad. It could also be a year or two of slowly rising unemployment and slight economic decline, followed by another period of growth.

[Economy 52,838]

1 minute ago, Luc said:

Recessions are a normal part of capitalist economies. The one in 2008 was unique in its size. Not every recession has to be that bad. It could also be a year or two of slowly rising unemployment and slight economic decline, followed by another period of growth.

This isn't purely a normal cyclical one tho

 

The war disruptions and pandemic supply chain disruptions (mostly in China now) are creating a lower productive capacity ceiling in the economy than normal meaning the economy is showing signs of late stage expansion overheating even though our consumption levels have not reached a level yet where that would normally occur but disruptions means supply cannot meet demand

 

A lower high means when a recession happens we're falling off a lower point to begin with unless these disruptions get resolved. That kinda sucks