Consumer sentiment more negative today than in 2008 financial crisis

[NPT]

I know prices have gone up a lot but my feeling today sure isn't more negative than in 2008. I think part of that is social media. I am a lot more negative today about our government than I was in 2008 whether it be Biden or Trump as president.

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

www.kiplinger.com

 

[mcmurtry66]

I know prices have gone up a lot but my feeling today sure isn't more negative than in 2008. I think part of that is social media. I am a lot more negative today about our government than I was in 2008 whether it be Biden or Trump as president.

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

www.kiplinger.com

Part might be social media but the other part is the ubiquity of high prices and that they touch everyone. It’s something everyone notices and recognizes every day multiple times a day. What’s more this has lingered. We were out of the recession in 09.
And again a recession doesn’t impact everyone. Maybe another 5 percent were unemployed for a spell. Prices hit most people.

And there’s no hope. Biden is mushy peas with progressives pulling his strings. Zero chance they’ve learned anything. Prices are high and Biden wants to take more of our money by raising taxes. If he gets control he’ll be right back with more trillion plus social spending

Trump is just a wild card. Who knows. Back then we had Obama. Young, smart. Pulled us out of the mud and got us going again. There’s no one like that for the next 5 years

There’s little reason to be positive. Just have to make more money to offset the hindrance that is our worthless gov

 

[mcmurtry66]

I know prices have gone up a lot but my feeling today sure isn't more negative than in 2008. I think part of that is social media. I am a lot more negative today about our government than I was in 2008 whether it be Biden or Trump as president.

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

www.kiplinger.com

 

[ChicagoFineForNow]

Unfortunately for Uncle Joe you can’t happy talk inflation. It hits everybody other than maybe the fabulously wealthy. A daily, grating reminder.

The same is not true of high unemployment or a stagnant market. Even during the worst of the ‘08 crash people could hold out and let their assets recover value. Most still had a job and some purchasing power. It’s much easier to feel removed from those things if it's not effecting you personally.

 

[Hoopsdoc1978]

I stopped at the gas station this morning for the first time in a while. I got a chocolate milk and granola bar and my bill was 5.68.

Then I remembered why I stopped doing that. I literally cannot afford it.

 

[UncleMark]

The same is not true of high unemployment or a stagnant market. Even during the worst of the ‘08 crash people could hold out and let their assets recover value. Most still had a job and some purchasing power. It’s much easier to feel removed from those things if it's not effecting you personally.

This is the correct answer. Most people care more about the price of gas and crab legs than whether or not the guy down the street just lost his job.

 

[hoot1]

I know prices have gone up a lot but my feeling today sure isn't more negative than in 2008. I think part of that is social media. I am a lot more negative today about our government than I was in 2008 whether it be Biden or Trump as president.

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

www.kiplinger.com

The political climate today is much more divided than in 2008 when GWB's Secretary of the Treasury Henry Paulson along with the banking industry and enough pols from both parties to show a united front. A united front which earned enough confidence of the general public to pull us through.

The recent bout with inflation and the resulting high price levels offers a different challenge than the 2008 crisis. A challenge which goes well beyond just changing the guy in the Oval Office.

 

[mcmurtry66]

This is the correct answer. Most people care more about the price of gas and crab legs than whether or not the guy down the street just lost his job.

Bc it’s not the guy down the street. It might be the guy ten streets over. You add 3-4 percent unemployment vs something that impacts 95 percent

And people don’t want to work three jobs and still not afford their bills

To say nothing of those on fixed incomes etc

 

[JamieDimonsBalls]

I got a chocolate milk and granola bar and my bill was 5.68.

 

[mcmurtry66]

He deserved a treat today!

 

[mcmurtry66]

Jdb do your little ones just assume the kitchen offers a grocery store selection? I’ll say to my minion what do you want for lunch and get answers like this one

Mickey Mouse goldfish
Baby oranges
Chocolate milk
Fish sticks

 

[BCCHoosier]

When it is hot and I'm doing yard work I'm still a sucker for an Icee from the gas station. I feel like a 10 year old every time. Sometimes I tell the cashier I have a kid home with a sore throat. 😆

 

[mcmurtry66]

When it is hot and I'm doing yard work I'm still a sucker for an Icee from the gas station. I feel like a 10 year old every time. Sometimes I tell the cashier I have a kid home with a sore throat. 😆

There is nothing better. Nothing. They have a machine at our indoor gamer and I often skip beers for icees

 

[JamieDimonsBalls]

When it is hot and I'm doing yard work I'm still a sucker for an Icee from the gas station. I feel like a 10 year old every time. Sometimes I tell the cashier I have a kid home with a sore throat. 😆

That makes sense. Haven't seen a grown person drink a Chocolate Milk in a long time

 

[JamieDimonsBalls]

Jdb do your little ones just assume the kitchen offers a grocery store selection? I’ll say to my minion what do you want for lunch and get answers like this one

Mickey Mouse goldfish
Baby oranges
Chocolate milk
Fish sticks

Yes. Half of the time they are asking for these things WHILE rummaging through the pantry. It's like - you can see what we do and don't have.

Mine are usually like the purple ones

 

[Hoopsdoc1978]

They didn’t have toaster strudels or juice boxes.

Which would have been just as expensive I’m sure.

 

[Joe_Hoopsier]

That makes sense. Haven't seen a grown person drink a Chocolate Milk in a long time

I've recently reconnected with an old (51) friend. He is making his move on a 27 yr old bartender.

He's been drinking A LOT of chocolate milk lately.

 

[BCCHoosier]

There is nothing better. Nothing. They have a machine at our indoor gamer and I often skip beers for icees

In Gulf Shores this place called The Hangout has a Jack and Coke Icee machine. Dangerous after a day of watching travel ball games.

 

[mcmurtry66]

In Gulf Shores this place called The Hangout has a Jack and Coke Icee machine. Dangerous after a day of watching travel ball games.

I’d be dead

 

[TDHoosier]

View embedded media

Unfortunately for Uncle Joe you can’t happy talk inflation. It hits everybody other than maybe the fabulously wealthy. A daily, grating reminder.

The same is not true of high unemployment or a stagnant market. Even during the worst of the ‘08 crash people could hold out and let their assets recover value. Most still had a job and some purchasing power. It’s much easier to feel removed from those things if it's not effecting you personally.

But many of the things I see say that unemployment low and stable (3.4-3.9%)? Shouldn't they all have "purchasing power"? I think the big lie is we need to raise salaries and hourly wages so everyone can have more "purchasing power" only to have the price of good go up at a higher rate than wages. We are seeing more and more small businesses go under where I live, which is not surprising given the economic climate.

 

[ChicagoFineForNow]

But many of the things I see say that unemployment low and stable (3.4-3.9%)? Shouldn't they all have "purchasing power"? I think the big lie is we need to raise salaries and hourly wages so everyone can have more "purchasing power" only to have the price of good go up at a higher rate than wages. We are seeing more and more small businesses go under where I live, which is not surprising given the economic climate.

I find this hard to believe as President Joe Biden gave a clear mandate to companies earlier in his term.

"Lower your costs not your wages" he said.

Are you saying these businesses didn't listen?

 

[Hoopsdoc1978]

Jdb do your little ones just assume the kitchen offers a grocery store selection? I’ll say to my minion what do you want for lunch and get answers like this one

Mickey Mouse goldfish
Baby oranges
Chocolate milk
Fish sticks

I have two teenagers in the house and they eat constantly. Chicken strips, frozen pizza, taquitos, pizza rolls, any kind of potato chips, and ramen. They eat an UNHOLY amount of ramen. I’m convinced we keep that industry afloat ourselves.

If we don’t have these staples in the house, they act like it’s a humanitarian crisis. Because god forbid they ever eat anything healthy.

 

[Joe_Hoopsier]

I have two teenagers in the house and they eat constantly. Chicken strips, frozen pizza, taquitos, pizza rolls, any kind of potato chips, and ramen. They eat an UNHOLY amount of ramen. I’m convinced we keep that industry afloat ourselves.

If we don’t have these staples in the house, they act like it’s a humanitarian crisis. Because god forbid they ever eat anything healthy.

My Nephew is home after his first year at Valpo. Now after one week, my brother signed him up for summer classes and said GET OUT NOW ! $300 of groceries after the first week. lol

 

[TDHoosier]

I find this hard to believe as President Joe Biden gave a clear mandate to companies earlier in his term.

"Lower your costs not your wages" he said.

Are you saying these businesses didn't listen?

Most must have had the TV on mute? Or maybe they were trying to wade through his babbling and stumbling over words, those damn teleprompters must be hell to read.

 

[mcmurtry66]

I have two teenagers in the house and they eat constantly. Chicken strips, frozen pizza, taquitos, pizza rolls, any kind of potato chips, and ramen. They eat an UNHOLY amount of ramen. I’m convinced we keep that industry afloat ourselves.

If we don’t have these staples in the house, they act like it’s a humanitarian crisis. Because god forbid they ever eat anything healthy.

Fing awful. Daughter is in that mode now and all her crew come over and do the same shit. I’m constantly at the grocery store.

What makes me happy is finding Starbucks bottles all over with just a drink or two out of them. Left

 

[IUCrazy2]

I know prices have gone up a lot but my feeling today sure isn't more negative than in 2008. I think part of that is social media. I am a lot more negative today about our government than I was in 2008 whether it be Biden or Trump as president.

Do You Feel More Negative These Days? Blame the Algorithm

Consumer sentiment is more negative today than it was during the Great Financial Crisis in 2008. Could the difference be the rise of social media’s influence?

www.kiplinger.com

I think you have a bunch of late 20 somethings and 30 somethings that are having issues locking down a house that could drive a bunch of that....

 

[DANC]

I stopped at the gas station this morning for the first time in a while. I got a chocolate milk and granola bar and my bill was 5.68.

Then I remembered why I stopped doing that. I literally cannot afford it.

Neither can your body. Do you know how much sugar is in chocolate milk??

 

[DANC]

Jdb do your little ones just assume the kitchen offers a grocery store selection? I’ll say to my minion what do you want for lunch and get answers like this one

Mickey Mouse goldfish
Baby oranges
Chocolate milk
Fish sticks

I'm fortunate. My grandkids don't like chocolate milk - I'm pretty sure there's something wrong with them. My daughter never even liked ice cream when she was little.

But God help us if we're out of the cheese goldfish or fruit packs (about 99% sugar)..

They do love the baby oranges/tangelos. And blueberries. They do snack on fruit a lot.

 

[DANC]

The political climate today is much more divided than in 2008 when GWB's Secretary of the Treasury Henry Paulson along with the banking industry and enough pols from both parties to show a united front. A united front which earned enough confidence of the general public to pull us through.

The recent bout with inflation and the resulting high price levels offers a different challenge than the 2008 crisis. A challenge which goes well beyond just changing the guy in the Oval Office.

2008 scared the shit out of big money. I forget the term, but the insurance companies who insure the insurance companies - the big Swiss money - was in danger of collapsing.

I don't know if that was a scare tactic to get Congress to agree to TARP and the Fed to flood the market with cash, but it scared me. That would have caused a huge stock market crash, affecting not just the rich, but everyone's retirement savings/investments. A real Depression was a possibility.

All because the Dems forced mortgage lending to unqualified borrowers. If the real estate market hits a wall, we could see the same thing again. There's a lot of borrowing on home equity today.

 

[JamieDimonsBalls]

I've recently reconnected with an old (51) friend. He is making his move on a 27 yr old bartender.

He's been drinking A LOT of chocolate milk lately.

Don’t be tempted Joe! Zeke would not be happy

 

[Joe_Hoopsier]

Don’t be tempted Joe! Zeke would not be happy

I like older women and since Zeke is 29, that makes it ok in my book !

 

[jsig]

I bought a house in 2008. Got a great deal.

Maybe if the fed govt. hadn't panic'd and bailed out the car manufacturers they would of died and resurfaced designing and building EV's and we be ahead of that game. Now they push tax credits for solar, EVs, whatever that just means those companies jack up the prices because of these credits. How can anyone afford an EV unless it just a POS.

 

[hookyIU1990]

There's a lot of borrowing on home equity today.

For giggles, I just logged into my bank which holds my mortgage. 8.65% if I wanted to borrow on my HELOC. Credit Union, where I do the rest of my banking, is 8.25% on a <80%LTV HELOC.

 

[DANC]

For giggles, I just logged into my bank which holds my mortgage. 8.65% if I wanted to borrow on my HELOC. Credit Union, where I do the rest of my banking, is 8.25% on a <80%LTV HELOC.

Believe it or not, it seems like 7 - 8% mortgage rates were the norm during most of my working life.

 

[hookyIU1990]

Believe it or not, it seems like 7 - 8% mortgage rates were the norm during most of my working life.

I think my first one was 7.25%.

 

[mcmurtry66]

Believe it or not, it seems like 7 - 8% mortgage rates were the norm during most of my working life.

people who got 2 percent and cheap houses right before the pandemic made out like bandits

 

[NPT]

I stopped at the gas station this morning for the first time in a while. I got a chocolate milk and granola bar and my bill was 5.68.

Then I remembered why I stopped doing that. I literally cannot afford it.

At least you got a good, balanced, and healthy meal. 🤣 🤣

 

[NPT]

Jdb do your little ones just assume the kitchen offers a grocery store selection? I’ll say to my minion what do you want for lunch and get answers like this one

Mickey Mouse goldfish
Baby oranges
Chocolate milk
Fish sticks

So what is wrong with those?🤣

 

[mcmurtry66]

At least you got a good, balanced, and healthy meal. 🤣 🤣

For that price he could have gotten a grande iced shaken espresso. Boost of energy. Guaranteed bowel movement. Maybe even met someone.

 

[twenty02]

For that price he could have gotten a grande iced shaken espresso. Boost of energy. Guaranteed bowel movement. Maybe even met someone.

Why not just direct him to Grindr?