Oso planning to go pro
2008 is probably the closest we will get to a Great Depression given the regulatory systems currently in place and our government's willingness to borrow to prop up consumption. 2020 shows that government spending can be effectively used to prop up an economy when it is needed.
I think the levers are there for the government to cover their ass. I wish I believed they were there to protect the citizens, but believe they are used to hide 25+ years of mistakes and corruption on their part.
SultanNo, but they printed and spent money without any concern of the consequences. That said, I think every second of every day is spent covering up mistakes and corruption. Only mentioned the pandemic because by almost definition of catastrophic, the pandemic met catastrophic in my book.
But I’ not an individual stock guy anyway. Vanguard philosophy all the way. Consistently dump money in and ignore it. Only own a few individual companies and Birkshire as a way of owning equities with less downside in tough times. Index funds all the way, only way over the long term for me. Take a few individual stocks in at the right time, and ignore.
SultanYou are likely correct, but that does not make their opinion correct. I am not saying they are wrong, but I do not think economic policy should be changed because of their opinion. I know I am in the minority thinking economic hardship is not always a bad thing, but I had an extremely difficult 2023 professionally and I learned from it. It taught me (again) to have a firm business plan in place, the need to be prepared for what-if situations and the need to make tough decisions quickly.While 2023 is tough for my business it also brought to light a ton of positives. IMO, having a difficult year is not the worst thing in the world, provided you learn from it. We learned a lot at work this year and are well positioned going into 2024. The tough year at work obviously toke a toll on personal finances and that is the American economy should look like, imo.Again, on the macro level, my opinions are very likely outdated and time to pivot. The biggest mistake I made over the past decade was not taking advantage of free money being thrown out of the windows of every bank. I should have borrowed until I could not borrow anymore and invested in a ton of assets that went up like crazy. Instead, this idiot thought that business model was dangerous. Funny thing, I live my professional/personal finances in reckless manner for the most part. By that I mean, I continually bet on myself and swing for the fences. Lesson learned was I should have been leveraged to the hilt.
Wisconsin's job market finishes the year on a strong note with record high number of people workinghttps://www.jsonline.com/story/money/business/2023/12/29/wisconsins-job-market-strong-with-a-record-3-million-people-working/72052057007/?utm_source=jsonline-dailybriefing-strada&utm_medium=email&utm_campaign=dailybriefing-greeting&utm_term=Content%20List%20-%20Stacking%20-%20optimized&utm_content=pmjs-milwaukee-nletter65Wisconsin’s economy ended 2023 in good shape with businesses hiring workers and the state’s unemployment rate at 3.3%, lower than the national average of 3.7%. Jobs and employment data is still being gathered for December. However officials with the Wisconsin Department of Workforce Development said that in November the state had more than 3 million people working, which is a new high for the state, and in the month 1,700 employees were added to the workforce. In 2023, roughly 32,300 workers entered the workforce in Wisconsin. The biggest problem with the economy has been there aren’t enough bodies to fill the openings.
Regardless of what the economy is doing, booze never goes out of fashion ...(From Seeking Alpha)Spirits revenue in the U.S. is slated to increase ~3% in 2024 compared to '23 as liquor company CEOs say that despite concerns over inflationary impacts on consumer spending, drinkers still see spirits as an affordable luxury.U.S. sales of spirits is expected to reach $54.9B in 2024, according to Statista. From 2023 to 2028, revenue is expecgted to increase at a 2.85% compound growth rate.Based on sales, vodka and tequila are projected to be the two highest selling spirits in 2024, at, respectively, $12.9B and $11B. Whiskey came in thurd at $10.9B.The biggest sales growth between 2023 and 2024 is seen with brandy, tequila and vodka with increases of $400M each projected.Statista noted that customers are gravitating more to premium and craft spirits, as well as flavored spirits such as fruit-infused vodkas and botanical gins.
82If memory serves me, a lot of wealth was lost in the market in 2022. I hope 2024 is remotely similar year to this past in the market and the economy does not stall. I am done guessing on what happens next and am counting on Uncle Sam to intervene whenever they feel it is needed. Bloated 401k plans would make any decisions on how to fix social security easier.