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    • Showing only topics in ~finance with the tag "recession". Back to normal view / Search all groups

    4. GDP per capita vs. the federal poverty rate over the years (observation and discussion)

      Ask
      Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this. In the 1960s, America's GDP (per capita) was $3,000. Also, in 1960, the...

      Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.

      In the 1960s, America's GDP (per capita) was $3,000.
      Also, in 1960, the federal poverty limit was $3,000 for a family of four.

      In 2023, the GDP (per capita) was $82,034.
      The federal poverty limit for a family of four in 2023 was $30,000.

      This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?

      People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.

      Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.

      1960s numbers adjusted if FPL matched 2023's percentage:
      GDP=$3,000
      FPL=$1,111

      1960s numbers adjusted if GDP matched the percentage comparison of 2023:
      GDP=$8,100
      FPL=$3,000

      Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.

      8 votes

    33. US President Donald Trump has signed a $2,000,000,000,000 stimulus bill, along with many other leaders in their respective nations

      Ask (survey)
      This thread is a follow-up to the oil prices thread we had less than a month ago. Australia has signed a stimulus package So has the US (title) (link) And Canada And Brazil (in portuguese) So how...

      This thread is a follow-up to the oil prices thread we had less than a month ago.

      Australia has signed a stimulus package

      So has the US (title) (link)

      And Canada

      And Brazil (in portuguese)

      So how are we feeling about this? Will the packages do their jobs and bandage the economy together until we stop the virus, are we headed towards a new great recession/depression, is this the nail in the coffin for the US as a political power (China has the virus under control in their nation and they're selling/giving out tons of masks so if the US economy is nuked and the Chinese only feel the trade effects then they can further empower themselves)

      9 votes

    37. Oil prices just fell 31% (and counting) with single biggest drop since Gulf War

      Ask (survey)
      How are we feeling about all this? There is going to be anxiety over the next few days (weeks..months....years?) so let's talk about it. 10yr Treasury Bonds are at their lowest ever, futures...

      How are we feeling about all this? There is going to be anxiety over the next few days (weeks..months....years?) so let's talk about it.

      10yr Treasury Bonds are at their lowest ever, futures market are down ~10%, and cryptocurrencies have lost billions.

      How are you feeling?

      23 votes