@Porwest
more from that month
It seems to me that inflation is here to stay, and will continue to rise. Across the board, the cost of finished goods and raw materials continue to rise almost relentlessly. Nothing indicates this trend is showing any sign of slowing. Most of it is due to a disrupted supply chain, labor shortages, and rising wages. The best hedge against inflation on a personal level is to find ways to grow your money at a faster pace than inflation. The U.S. stock market continues to be a place where this is possible. However, all of these issues will eventually trickle into stocks as well as companies struggle to fill orders, and pass on costs for higher wages and sign on and retention bonuses. If the Biden administration gets its way and reverses the Trump tax cuts, all bets are off. There are signs that if all of these things continue, and businesses are further burdened by higher taxes, this could throw the economy into a recession sooner rather than later. A recession in the U.S. would of course also impact the economies of other countries, and the hardest hit would be third world countries. On the flip side these pressures can bode well for cryptocurrency IF it is seen as a safe haven similar to precious metals, which always rise in value when economies are in the dumps. The latter is to be seen, but it is certainly something to watch.
5 comments
I pray this never happens. Whatsoever happens in the US affects Nigeria almost immediately. Our situation is already bad , US going into recession will compound the problem
I hope it does not happen either, but it seems inevitable at this point. The current situation is simply not sustainable.
One thing you can be sure of: if the Biden administration reverses the Trump tax cuts, and we go into a recession, the mainstream media will scream that this is all Trump's fault! I don't think Trump was a good president, (he doesn't have the personality for it), but I enjoyed watching him spar with the media.
For me, Trump's policies were all that mattered, and that made him a good president. You don't vote personality. You vote policy, because it is the ONLY thing that matters, to my mind. Obama was a nice guy. But look what he did to the country from foreign relations, to getting 4 Americans killed in Benghazi for lack of sending help, and let's not forget the economy. On the flip side, just to be fair, and because I am a fair guy. Despite being a rapist, pedophile, and very horrible man, and quite possibly a murderer, Bill Clinton's policies were actually quite good for America. Policy. Not personality. Just my two cents.
Yeah, but you also have to be able to work with people you disagree with. Else you shouldn't be in politics, at least in the USA. Compare Trump to Reagan. Because he could work with those he disagreed with, IMHO he got a lot more done. Trump seems like a "my way or the highway" type guy, and that doesn't work in D.C. That's why so many folks turned so vehemently against him.