Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

brush

(53,784 posts)
Sun Feb 25, 2018, 02:54 PM Feb 2018

Sign of a coming recession? Anyone else notice anything similar?

Last edited Sun Feb 25, 2018, 03:51 PM - Edit history (1)

I live in Las Vegas now and frequently drive by this vacant corner lot on a busy street.

Recently several cars have popped up on the lot with for sale signs on their windshield.

The same thing happened back in '08 and '09 when the Great Recession was raging.

Makes you wonder if people are getting strapped for cash.

Just an observation as that lot hasn't had cars on it for sale like that in years.

17 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
 

Hoyt

(54,770 posts)
1. Probably someone wanting to buy some guns. There is always a recession coming at some point, but
Sun Feb 25, 2018, 03:06 PM
Feb 2018

I'm not sure there are any signs now of one that would cause someone to sell their cars. Of course, little doubt trump and company will bankrupt us, but the impact is probably down-the-road.

PoindexterOglethorpe

(25,861 posts)
2. Cars parked on a vacant lot for sale
Sun Feb 25, 2018, 03:09 PM
Feb 2018

is a common enough occurrence that I've never connected it to the economy. For what that observation is worth.

 

rusty fender

(3,428 posts)
3. Most people are always strapped for cash
Sun Feb 25, 2018, 03:15 PM
Feb 2018

A big sign of the last recession was about 4 to 5 months of turmoil in the financial markets. Yes, the stock market isn’t THE economy, but it often reflects what is happening IN the economy. And companies were shedding jobs by the thousands in the months before the recession.

Home foreclosures were largely responsible for sending the economy over the edge in 2008-9. I would look for something like a huge crisis in an important part of the economy as a sign of the next recession.

Caveat: my opinions are worth about 2 cents

fmdaddio

(192 posts)
4. Leading Economic Indicators
Sun Feb 25, 2018, 03:29 PM
Feb 2018

•Real GDP (Gross Domestic Product)
•M2 (Money Supply)
•Consumer Price Index (CPI)
•Producer Price Index (PPI)
•Consumer Confidence Survey.
•Current Employment Statistics (CES)

These can change quickly but investors look to these top six among others for investment guides.
Others are a sustained decrease in car sales and other big ticket items.
If consumer spending still drives up to 70% of our economy things look good today.
But for any reason consumers get spooked look out.

Our current uncertainty is based on the economic expansion that stated under Obama
and that has continued under the Vulgar Yam. Which he has taken full credit for.
This expansion has gone on considerably longer than most.
In addition our rising stock market is believed to be very overvalued.
There were fears of a major correction 2 weeks back which did not materialize.

Today at Bloomberg news the headline reads "Goldman Says Stocks May Plunge 25% If 10-Year Yield Hits 4.5%"

If you are my age (63) 0r close to retirement you better have your savings far from the market and in stable accounts.

Just my humble opinion.

uponit7771

(90,346 posts)
15. GS is right, it'll be like 87 88 again where money flowed out of equities into bonds
Sun Feb 25, 2018, 05:57 PM
Feb 2018

... because bonds were safer.

Buffet said stocks were cheap because bond yields were down

Afromania

(2,768 posts)
5. Last go around I noticed a big uptick in "pre approved" card offers. Mid last year I noticed
Sun Feb 25, 2018, 04:20 PM
Feb 2018

the credit card offers were starting to free flow again. I'm not expert in such matters and would appreciate it if somebody who does could chime in on that.

dawg

(10,624 posts)
6. I don't see any signs of an imminent recession.
Sun Feb 25, 2018, 04:33 PM
Feb 2018

GOP fiscal irresponsibility is putting upward pressure on interest rates, which will raise monthly payments for the working class. That will eventually put the brakes on the economy, but I doubt that will happen before the mid-term elections.

The real problem won't be the recession, however. It will be the policy response to that recession.

PCIntern

(25,554 posts)
7. I will say this:
Sun Feb 25, 2018, 04:40 PM
Feb 2018

General Dentists in metropolitan areas are among the first to begin to feel a coming recession. In 2007, my practice took a nose dive and I said to anyone who would listen, "I think we have a bad one coming." I was met by business men (and women) whom I treat as a prophet of "Liberal Gloom and Doom".

Needless to say, we were hit hard by calamity and I took some small pleasure in saying to some of these naysayers, "Didn't we have a conversation about a year ago (we see folks roughly every six months as most of you know) that there was trouble afoot?" I was met with grudging admissions or, interestingly enough, denials that my prediction had any merit. Now I've been practicing for 40+ years so I might, just might, know what I'm talking about.

I see a slight belt-tightening now but nothing like other pre-recession periods but that could change. Stay tuned...I'll let you know if I have any signs of a problematic economy coming.

uponit7771

(90,346 posts)
13. Why dentist? A tooth ache is a tooth ache and hurt like hell. Thx in advance, some
Sun Feb 25, 2018, 05:53 PM
Feb 2018

... good info here

Hortensis

(58,785 posts)
16. Thanks for sharing your observations.
Sun Feb 25, 2018, 06:03 PM
Feb 2018

Wish I could discuss economics and politics with our dentist twice a year, or at least ugh responses to interesting observations.

eleny

(46,166 posts)
8. How are the luxury car dealers doing in your area?
Sun Feb 25, 2018, 04:46 PM
Feb 2018

In the Spring of '07 the Lincoln dealers around here were chock full of '06 models they couldn't sell. I always wondered if they were a canary in the coal mine.

brush

(53,784 posts)
11. I'm going to start paying attention to that too. Recession follows repugs in office like spring...
Sun Feb 25, 2018, 05:48 PM
Feb 2018

follows winter.

Demsrule86

(68,582 posts)
12. Autos are generally the ones to watch...they are the first to feel recession and the first to see
Sun Feb 25, 2018, 05:50 PM
Feb 2018

recovery...they lead the way in recovery...pretty much saved the economy after the GM bankruptcy ended (thanks Obama) and cash for clunkers.

AmandaRuth

(3,105 posts)
9. im with you
Sun Feb 25, 2018, 04:52 PM
Feb 2018

haven't heard about it to much in the media, but I am seeing inflation all over the place. Even our transit system is holding hearings because a fare increase is on its way. I feel like I am reliving the 80's sometimes.

Latest Discussions»General Discussion»Sign of a coming recessio...