Economic crash worse than in 2008?

Personally I think alot of people in this country need to learn a little humility and I don't know of a better way than a depression... Complete with soup and bread lines. Not that I really want to see it get that bad, but it sure would humble alot of folks.

 

The last couple months have been depression like for sure. I don't share the doom and gloom for the future though. I think next year is going to be great. It may just take 4 to 6 months to get back going. This is assuming there isn't a second wave of Corona. If that comes it'll be very hard.

 

IT's not bad for every one the real estate business nation wide is booming from people I have talking with, first a shortage of existing homes for sale partly because people don't want strangers in their house has caused prices to shoot up and new home sales are strong with people wanting bigger yards and pools so more room if stuck at home. Of course this is driven by low interest rates but we are still busy building them I don't know how long this can last I am just hopping that the pent up demand causes a boom everyone can partake of.

The other side everyone talks about is how bad 08,09,10 was, I parked 2 of my 3 trucks had 1 part time driver I started working with my brother flipping homes and apartments I learn a lot but hated the business but I made decent money and got by until things picked up.

 

The human tendency towards denial of what is happening right in front of them is fascinating.

I remember watching a video of the Las Vegas shooting where a girl who was crying kept repeating over and over that the noise of shots was just fireworks even though she was surrounded by the evidence of people who were shot right in front of her.

Give a prediction about what you think will happen and you’ll will run up against other people in denial who will want to bicker endlessly why you’re wrong. Don’t predict in words. Prepare in actions.

 

2008/2009 were some of the best summers of my life, loads kept cancelling so i went camping, didnt actually find out about a recession untill years later, guess i was as clueless as the amish, but if ive learned anything the real estate crash of 2008 was known about by many before it ever happened, just like 9/11 and the virus, the good news for all of us is we can prepare for the next economy crash somewhere around 2030, if the ponzi scheme holds up untill then. "wherever there is a human being there is an opportunity for a crisis "

 

I’m just gonna say it up front, I have a mind that leans “conspiracy” so take my comments with a grain of salt. That said I think something bigger is at play with all of this. I don’t think we’ve seen the last of this virus and I don’t think it came about naturally. I think there will be multiple waves of it over the next several years. I don’t think it yielded its intended affects yet.

Who knows where all this leads, but those thinking this is just going to be a bounce back recession? I’m sorry, I think what we’ve already done will cause another depression in this country. We haven’t even begun to see the outcome of what shutting this country down for six months Will do. About 50% of Americans work in the service industry and we completely closed it and probably about half of those service industry businesses are not going to come back or will fail over the next 12 months. That’s completely unprecedented. You don’t just replace those jobs overnight it takes years and years and years to do that.

We are in completely uncharted waters and it’s going to get far worse before it gets better.

 

at times like these we have to remember that years ago the "experts" said it was ok to smoke in a hospital and asbestos and lead paint were harmless.