The economy | Imamother

amother

OP ↓

Wed, Jul 03 2024, 6:15 pm

I'm not very savvy when it comes to this, but based on history - how long does it take for the economy to pick back up after it becomes as bad as it is now?

And is everyone feeling it as much as we are? It's so so hard!

amother

Butterscotch

Wed, Jul 03 2024, 6:25 pm

Depending on who’s elected if we go by teva
The markets run in cycles and inflation/factors have been destroying our economy we’re all feeling it!

Hopefully Moshiach takes us out of this and all our struggles will end.

amother

Burgundy ↓

Wed, Jul 03 2024, 6:34 pm

amother OP wrote:

The economy isn't actually bad.

Many people are prospering.

A bad economy is what happened in 2008 when there was economic hardship that hadn't been seen since the Great Depression.

amother

↑ OP

Wed, Jul 03 2024, 6:39 pm

amother Burgundy wrote:

The economy isn't actually bad.

Many people are prospering.

A bad economy is what happened in 2008 when there was economic hardship that hadn't been seen since the Great Depression.

Really?

Every second person I'm talking to is complaining how bad the economy is and how they could not afford their life.

I'm sure in 2008 many people were ok too. My parents went from riches to rags then, but im pretty sure there were people that didn't get affected

amother

↑ Burgundy

Wed, Jul 03 2024, 6:46 pm

amother OP wrote:

There are certain economic groups that are having a difficult time because of inflation - especially in terms of grocery prices.

But overall many people have well paying jobs; have investments that are doing well; bought their house when mortgage rates are lower.

Also many people who have well paying jobs aren't sending their children to private school or paying additional costs for kosher food or to live in certain very expensive enclaves.

Unemployment in 2009 was over 11% - higher in some harder hit areas - unemployment s now 3.7% as of May 2024

The entire financial system was on the verge of collapse with banks closing. Stocks dropped about 50% in value - stocks have been rising or stable in today's economy.