Comments by "Debany Doombringer" (@debanydoombringer1385) on "The US Economy Is Now in a Biden Recession" video.

The fact the administration is trying to claim the economy is fine because middle class still has savings is insane. So because I'm cutting back rather than stripping my 401k further somehow means the economy is really doing great? That just tells me the goal is to bankrupt the middle class. Since most people at some point in their lives will reach the middle class, the ones that are able to stay in it do so by understanding how to budget and manage their money. So the goal is to push them to the point they have no choice but to destroy their retirement to pay their bills. Then once they've done that and had to sell or lose their homes will this administration admit the economy is bad.
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The market will crash. It's been being held up by the fed pumping money into it. They've stopped so it's going to go belly up. The housing prices will go down or at least stabilize. The prices are mostly just inflation. It's one of the first markets inflation hits. Because you're dealing with such large sums it makes it more noticeable. People who saw this coming are trying to get into land and houses to lock in the value of their money. As inflation goes up and wages go up, their payments remain the same. Demand will slow once the recession takes full effect and those that didn't get in quick enough no longer can afford to. Then it will drop a bit or just stop raising. The difference between now and 2008 is that this isn't a government manufactured bubble like it was then.
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@no2party Some most definitely will lose their homes once everything settles out. The peak of all this is being predicted to hit in the first quarter of next year. That's when the real crumbling will hit full force. The downside is interest rates will be high. However, if you can pick one up that's been foreclosed you can always refinance when they come back down.
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@bhatfield1417 This being Obama's 3rd term is based on the fact Biden is putting in every policy Obama pulled back on that wasn't popular to hold onto other party votes. Only electric cars by 2030, gender neutral bathrooms, stifling the oil industry, etc are all Obama era policies that got nixed by being unpopular or by the courts. The only difference between the two is the border because Obama deported more than Trump did, but we had more crossings under Obama too.
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