Quick answer . . .
OF COURSE NOT!!!
Even worse . . .
The 2022 recession is going to feel a lot more like an ECONOMIC DEPRESSION for workers who are still struggling to get back on their feet after the COVID pandemic.
Despite the dearth of viable economic reporting (that's not just sponsored content spin garbage) in and around Kansas City; the economic turmoil of the nation and the globe have already started to impact our beloved cowtown.
One good example out of many . . .
Meanwhile . . .
A quick look at local streets reveals a great many people suffering financially, gas prices continue to rise and circumstances for many are increasingly desperate . . . Youngsters without money for $1200 mobile phones are actually reading books like the metro was some damn 3rd world sh*thole country.
Accordingly . . .
IF MAYOR Q & COUNCIL WERE SMART THEY MIGHT DEVISE SOME KIND OF KCMO PLAN TO HELP LOCALS COPE WITH HARD TIMES THAT ARE ALREADY UNDERWAY AND GETTING WORSE!!!
At the outset of the pandemic, Mayor & Council focused their efforts on helping the homeless but now economic suffering is more widely distributed.
Sadly . . .
What we've seen is the temptation for locals to mistakenly believe that far off tourism schemes and entertainment districts will provide relief for financial devastation that's currently underway.
The toy train streetcar extension isn't going to save Kansas City's economy. Sorry.
Again, let's not forget . . .
Unfortunately, global markets and gas prices indicate that economic turmoil will only grow worse under the current Administration.
Read more via www.TonysKansasCity.com links . . .
Our increasingly ugly inflation problem is a perfect illustration of the Biden administration's uncanny ability to get everything everywhere wrong all at once. The Biden administration's first response to any problem is to pretend that it isn't a problem. That's how inflation went from a minor problem to a major one.
The American economy isn't looking great right now. U.S. GDP shrank last quarter, despite a hearty showing from American consumers. Inflation is high; markets are down; both wages and personal-savings rates show some troubling statistical signals. Is the U.S. destined to have a recession in 2022? I don't know for sure.
The broad stock market is down nearly 20 percent from its January 2022 peak. Worse is likely to come. What's going on? The simple explanation is rising inflation and rising interest rates. When interest rates go up, bonds become a more attractive investment than stocks.
Harvard University economics professor Kenneth Rogoff warned on Friday that it will be "really hard" to get the "inflation rate down" without causing a recession. "If [the Fed] have to raise interest rates that much, it will cause a recession, no doubt," Rogoff told "Cavuto: Coast to Coast."
There are certain things you can control that can help relieve some of your financial anxiety, from saving more to paying off debt. Here's how to get started.
Finally, some sage advice for any market: Don't let your emotions get the better of you. "Stay invested, stay disciplined," says certified financial planner Mari Adam. "History shows that what people - or even experts - think about the market is usually wrong.
Federal Reserve Chair Jerome Powell was just confirmed to a second term by the Senate and, immediately after, he had to concede high inflation, the labor market and other factors could result in a recession despite the fed's efforts revolving primarily around rate hikes
Developing . . .