Worst us recession in history coming?

What's your thoughts on this? I am not at all an expert on how currencies work but right now is almost 7% (I understand they measure inflation differently now which makes it look better than it is) but even at 7% in 10 years thats 70% of your money in savings gone. They should have hiked interest rates by now by alot in my opinion to try to combat this. They will not raise taxes before the midterms in my opinion. And even if they would you know it wont be much because they're all best friends with the billionaires.

What scenerio could play out to not make this an economic disaster. Has this ever been done before and hasnt destroyed the economy?

Is It Normal?
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  • The "official" inflation index actually under-counts real inflation (that has been known for decades) 7% is historically not that bad - and not necessarily a predictor of a major recession or depression.

    I remember when inflation was in the solid double digits (13.5% when I got out of the Navy and started college).

    Here's a website with the historical records. You can then line up what were considered major recessions to this data.

    https://www.usinflationcalculator.com/inflation/historical-inflation-rates/

    I would agree that the US is heading for a major recession if not a depression; but for other economic reasons related mainly to the amount of unsecured credit.

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  • Holy fuck man, 7% inflation. I did not know that. That's really not good, dude.

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    • The "official" inflation index actually under-counts real inflation (that has been known for decades) 7% is historically not that bad - and not necessarily a predictor of a major recession or depression.

      I remember when inflation was in the solid double digits (13.5% when I got out of the Navy and started college).

      Here's a website with the historical records. You can then line up what were considered major recessions to this data.

      https://www.usinflationcalculator.com/inflation/historical-inflation-rates/

      I would agree that the US is heading for a major recession if not a depression; but for other economic reasons related mainly to the amount of unsecured credit.

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      • Im not an expert so I dont know this for a fact but from what I have seen the way they use to measure inflation under counts it more and using that method inflation is higher than the 6.8% they said it was. The lasr they measured it was November and they're gonna measure it again January 20th and it will probably be around 8%-9% (hopefully not). Once they raise interest rates I think their will be a big stock sell off and start correction that could start a recession.

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      • Thanks dude, I will check that out

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    • Its probably even worse than that. We're seeing alot of prices go up 25% in the last year.

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  • Also what are you going to do to try to keep your money growing?

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