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Economy

bucolic_frolic

(48,392 posts)

5. The public may feel this more than normal, more than the 1970s

Reply to mahatmakanejeeves (Original post)

Thu May 16, 2024, 06:40 AM

May 2024

We became used to COVID largesse, and that's drying up. We are laden with debt. In the 1970s that was not the case. Many people didn't even have credit cards at the time, or their credit limits were in aggregate about $2000. House prices were nominal by today's measures.

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The backbone of America's economy was just dealt a serious blow [View all] mahatmakanejeeves May 2024 OP

Consume! Obey! Voltaire2 May 2024 #1

Here we go, gab13by13 May 2024 #2

Because our current economy is based on consumer-spending, no_hypocrisy May 2024 #3

Manufacturing with exports also depends on consumers. Voltaire2 May 2024 #29

Rein in your spending? Aussie105 May 2024 #4

The public may feel this more than normal, more than the 1970s bucolic_frolic May 2024 #5

I don't think people being less wasteful... Think. Again. May 2024 #6

The entire system would need to be careful jimfields33 May 2024 #7

Yeah, irresponsible fund managers are always a problem. Think. Again. May 2024 #8

Then fix that. jimfields33 May 2024 #9

I've got a shovel... Omnipresent May 2024 #10

I'll help. jimfields33 May 2024 #13

Me? I'm not an elected official. Think. Again. May 2024 #12

Just generally. jimfields33 May 2024 #14

absolutely.... Think. Again. May 2024 #15

Absolutely agree. jimfields33 May 2024 #16

No safe havens - the bond market has done even worse in the last 3 years progree May 2024 #17

Putting retirement funds in stocks is too risky. Think. Again. May 2024 #18

In the face of withdrawals and inflation, it is riskier NOT to have a high equity allocation progree May 2024 #20

Interesting... Think. Again. May 2024 #22

"I guess the concern about a failing economy breaking people's retirement plans is wrong" progree May 2024 #23

I just believe that... Think. Again. May 2024 #24

Over the long run, equities are the safest investment by far in the face of withdrawals and inflation progree May 2024 #25

Cool, so the retirement funds the poster was worried about ARE safe. Think. Again. May 2024 #28

In the long run, his retirement funds are better off in equities than in fixed income progree May 2024 #32

Most people have very small retirement accounts. Voltaire2 May 2024 #19

"We're all players now!" dpibel May 2024 #30

Yup. We've been fully inculcated. Voltaire2 May 2024 #33

When Taylor Swift tickets snowybirdie May 2024 #11

And yet, the stock market hit a record high yesterday Scrivener7 May 2024 #21

Scr#w the experts Ritabert May 2024 #26

Oh. I guess we'll be back to living paycheck to paycheck. Silent Type May 2024 #27

Many good comments here. SarahD May 2024 #31

They are just now figuring that out? Warpy May 2024 #34