PBD Podcast Signs Leading To The Next Great Depression | Ep. 232 | PART 1
Feb 2, 2023
The conversation dives into rising interest rates and the unsettling signs of a potential economic downturn. Tom Brady’s retirement sparks reflections on sports legends and their complex personal lives. Political dynamics heat up with discussions around Ron DeSantis and Nikki Haley’s presidential ambitions. The speakers tackle the link between economic conditions and political maneuvers, emphasizing the unpredictable nature of the market, while humorously exploring serious financial implications.
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Economic Slowdown and Layoffs
- Expect further layoffs in various sectors as interest rate hikes continue.
- This will slow the economy and reduce consumer spending, but it's a sign that the "worst is over."
Ominous GDP Warning Sign
- A troubling economic sign is the significant drop in real disposable income, mirroring 1932 levels.
- Consumers are depleting savings and stimulus checks to cope with inflation, a trend not widely discussed.
Disconnecting Economic Data and Reality
- Professor Scott Galloway tweeted that the economy is performing better than perceived, citing GDP growth and job gains.
- Public responses highlighted the disconnect between economic data and the lived experience of rising costs and layoffs.