Global Depression 2022 - Time to do the Breadline Boogaloo!

[Jump]

They offered me more than the MSRP on my 2019 F-150 because I had so few miles on it. I would have come out with my loan cleared, my last two down payments on my vehicles and maybe an extra 1k in net profit if I had taken it.

I have a vehicle that is less then 5 years old and the dealer has been mailing me offers and called with an offer over what I paid for it new. And its not even a gimmick to get me in to a new one. They have none on the lot.
I talked for a while to the salesman and he said they can't get this type of vehicle at all anywhere and are hoping to buy back ones from people who don't need them anymore.

 

[Autistic Joe]

There have been people here in the US that have received calls from dealerships offering to buy back their F150's at MSRP. its crazy,

Hmm, I wonder if this guy could still get a deal like that?

Spoiler: One Truck, Slightly Used

source

78,000 people watched a guy take a leak on the seat of his truck. 78,000 people. There are entire countries with fewer people than that. There are thousands of professionally-made music videos and TV pilots on Youtube with less views than that. If they watched the entire minute (and let's face it, if you click on a video of a guy pissing on the seat of his truck, it's because you want to watch a guy take a piss on the seat of his truck and you're gonna watch the whole damn thing), that's 54.167 entire days of precious, mortal human existence spent watching a guy piss in his truck.

It was so popular he made four sequels, almost doubling the above numbers in aggregate. Up to 16,000 people liked the guy pissing in his own truck so much they came back for more, and stayed glued to it a year later. Though of that number, an unknown number saw one of the later truck-pissing videos recommended to them by an AI with millions of times more computing power than that which took man to the moon, and agreed with the AI's decision that a truck-pissing video was what they wanted to see. And they liked it so much they sought out the original, the OG, the definitive statement on truck-pissing that will never be bettered.

We are in the future. We are so far in the future that technologies that Star Trek brought to the screen as sci-fi speculation (notably the 3.5 inch floppy disk drive) have been invented, become commonplace and have become obsolete. Ideas that once seemed fantastical now look dated. We all hold in the palm of our hands a device that contains more raw computing power than the entire world had combined 50 years ago, connected to a network of databases that allows literally anyone to see almost the entirety of our species' combined knowledge and creative output to date, and 78,000 people, more than the population of Andorra, used that technology to watch a guy piss on his truck seat anything up to five separate times over the course of a year. Also the year, make and model of the truck was really important to both the seat-pisser and presumably the people who watched him.

As a denizen of the Farms, I've seen a lot of people do a lot of weird shit on the internet, and seen even more people watch them, sometimes pay them, to do it. But it took a guy pissing on his truck seat to finally break me.

I'm going to have a lie down.

 

[Male Idiot]

Angry toaster noises. Truk kun will isekai a lot of piss fetishists.

 

[Dysnomia]

The price of fucking vitamins. It's been bad since the pandemic vitamin panic. But it seems worse now. I'm not paying $14 for vitamin C. I can get it cheaper at another store. But who knows how long that will last. I had a hell of a time finding magnesium. Thankfully I got some extra calcium that was a buy one get one free deal. I have to take that because I have a deficiency. All these people who panic bought vitamins they didn't need made me have to go to all these different stores for crazy overpriced calcium, vitamin D and B12 last year. Then it seemed better for a few months. Now all the prices are crazy again.

 

[GAY Ted Wheeler]

The price of fucking vitamins. It's been bad since the pandemic vitamin panic. But it seems worse now. I'm not paying $14 for vitamin C. I can get it cheaper at another store. But who knows how long that will last. I had a hell of a time finding magnesium. Thankfully I got some extra calcium that was a buy one get one free deal. I have to take that because I have a deficiency. All these people who panic bought vitamins they didn't need made me have to go to all these different stores for crazy overpriced calcium, vitamin D and B12 last year. Then it seemed better for a few months. Now all the prices are crazy again.

Have you had weight loss surgery by chance?

 

[Only A Retard Sometimes]

The price of fucking vitamins. It's been bad since the pandemic vitamin panic. But it seems worse now. I'm not paying $14 for vitamin C. I can get it cheaper at another store. But who knows how long that will last. I had a hell of a time finding magnesium. Thankfully I got some extra calcium that was a buy one get one free deal. I have to take that because I have a deficiency. All these people who panic bought vitamins they didn't need made me have to go to all these different stores for crazy overpriced calcium, vitamin D and B12 last year. Then it seemed better for a few months. Now all the prices are crazy again.

we had to start putting anti theft stickers on them at the store i work at. i dont think we have a single bottle that's less than 8 dollars now.

 

[mindlessobserver]

Pajeets weighing in

 

[Smug Freiza]

WallStForMainSt covers the topic of the Fed raising Interest Rates 3 times during 2022

He speculates that the assets that break will be:

• Home prices - loans and refinancing will be most affected, this will then affect the Governments tax revenue via lower capital gains tax and property taxes.
• Asset Markets - hedgefunds and investment banks who have overleveraged bond trades and borrowed money for investments.
• The dollar Index - foreign banks and firms who bet against currencies could experience a blow up with margin calls.

It's due to these reasons he doubts there will be any Fed rate hikes during 2022, which I agree with. The Fed has said they will hike rates multiple times but they know the damage it will cause so they continue to "kick the can down the road" until the entire system will break.

For people who want this topic covered more extensively in an easy to understand format, I'd recommend George Gammon's recent video on the same topic.

George believes the stock market will be most affected due to QE and rate hikes.

In more general news pertinent to the thread, George released a video earlier on the World's most accurate economic indicator predicting Global Financial Crisis 2.0

He covered the recent yield curve inversion when comparing 10 year treasury bonds to 2 year treasury bonds, which has a 90% historical record of preceding a financial crisis. He also points out there was another yield curve in the Eurodollar Futures Market, for people unsure of this form of trade there will be a quote and link below.

LIBOR and Eurodollars​

The price of eurodollar futures reflects the interest rate offered on U.S. dollar-denominated deposits held in banks outside the United States. More specifically, the price reflects the market gauge of the 3-month U.S. dollar LIBOR (London Interbank Offered Rate) interest rate anticipated on the settlement date of the contract. LIBOR is a benchmark for short-term interest rates at which banks can borrow funds in the London interbank market. Eurodollar futures are a LIBOR-based derivative, reflecting the London Interbank Offered Rate for a 3-month $1 million offshore deposit.

An Introduction to Trading Eurodollar Futures

The deep level of liquidity and long-term trending qualities of the eurodollar futures market present opportunities for small and large traders alike.

www.investopedia.com

According to George and his sources, the EuroDollar yield curve is even more accurate at predicting recessions than the Treasury Bond yield curve, which would be over 90%. The data he sees is predicting a recession or global depression beginning in 2023 and continuing into at least 2026, according to the yield curve.

He also looks at the recent bust of real estate giants Evergrande and Fantasia in China, where real estate accounts for 20% of China's GDP. He believes this will create a dollar crisis, as China will hoard it's dollars and spend less in international trade importing goods and raw resources. This will devastate emerging markets who are tied to China, as 60% of global trade is settled in US Dollars and most debts are settled in dollars.

 

[contradiction of terns]

An update on the Lebanese and Afghani economies. Both have collapsed and large numbers of their populations are fleeing for other countries:
‘No looking back’: As economy crumbles, Lebanese turn to Cyprus
The United Nations says Afghanistan's economy is collapsing 'before our eyes'
Afghans Push Through Snowy Alps Toward New Lives in Europe
Afghan currency slides and prices surge as already battered economy worsens

France is shutting down several nuclear facilities for the winter and it is projected to have a profound impact on their ability to provide electricity:
Europe Faces Dire Winter as Nuclear Outages Deepen Energy Crunch
ICYMI - Électricité de France is taking 4 nuclear reactors offline next month

And finally... I was wondering why Egypt's economy was doing so well compared to the economies around it, which are all collapsing. I found this:
The Egyptian economy is in danger and people cannot eat, says ex-media CEO

Mamdouh Al-Wali: The government statement is selective and deliberately ignores many of the problems that the Egyptian economy still suffers from despite promises of improvement after the flotation of the Egyptian pound. If we compare the exchange rate of the currency between the end of June 2016 and the beginning of November 2021, we will find that the rate of depreciation of the pound against the dollar is 79 per cent, not what the government claims.

The currency flotation was what I call a managed flotation. This means Central Bank intervention to determine the price, leaving a small margin for a movement that has nothing to do with supply and demand.

The evidence for this is the fall in the exchange rate against the dollar by only 2.4 per cent during the second quarter of 2020, which saw the peak of the negative repercussions of the pandemic on the Egyptian economy. Foreign exchange resources decreased by 12 per cent compared with the first quarter of the same year, although the resources included $7.93bn in foreign loans during the second quarter.
The expansion of external loans contributed to the possibility of the Central Bank's intervention to maintain the desired exchange rate, which increased from $79.03bn at the end of 2017, to $137.86bn at the end of June 2021, which is the latest available data.

OG: What about the rise in Egyptian remittances from abroad? What is their relationship to the rise in foreign exchange reserves?

MW: The rise in the value of remittances from Egyptians abroad has nothing to do with the government. This is related to international economic conditions and the price of oil, given that most of these workers are in the Arab Gulf states. They are sent to and spent by the workers' families.

The increase in the cash reserves at the Central Bank is due to the government's expansion of external borrowing. External debt rose by nearly four times the increase in foreign exchange reserves in the same period.

I'm not going to quote the full article, but I found it an interesting read.

Edit: I forgot that I grabbed this. OCC takes step toward pressure on large banks to reveal climate-change risks

 

[Zbk3VmLfujjzjxBd43tL]

Fuck, I was worrying about this since I think late 2018 or even early into 2020. I was worried that something terrible is about to happen and it looks like it's about to come to pass. The worst part is everyone seems apathetic to what's happening. All of this feels like some kind of concentrated effort to utterly cripple the world somehow.

I know it sounds crazy, but something just hasn't sat right since the CCP Virus came knockin'. I can't be the only one who thinks or feels that there's something far darker below the surface that everyone isn't seeing... That this collapse of society and a growing concern that we're returning to a state of feudalism is by someone or something's design and not some coincidence or historical pattern; there's nothing natural about any of what's currently happening, or at least I hope I'm not the only one who thinks none of this is normal.

Humanity may be a stubborn creature, but when this bubble bursts nothing will be the same anymore. And I'm scared that something worse will be coming even after that...

Please stay safe out there, all of you. I worry the worst is yet to come.

There's speculation that the scamdemic was deliberate (as in totally overhyped into the self-sustained propaganda monster it has become) to allow a "controlled demolition" of the world economy. You could tell that 2019 had some real warning signs going on, and a lot of the recovery from the Recession, especially in the past few years, was like a bubble. It had to burst sometime, so the best way to make it burst was to give everyone something else to focus on and let the elites vacuum up the wealth they could before it all collapses.

Or something like that. I'm not well-versed enough to really say I agree or not, but it is an interesting theory and potentially the most plausible reason the world doubled and tripled down on the scamdemic. Everything else, like "get Trump out of office" or Great Reset technofeudalism garbage, was secondary/a welcome side effect.

 

[Kujo Jotaro]

The Sins of the West Will (Not) Be Forgiven

 

[Billy Beer]

There's speculation that the scamdemic was deliberate (as in totally overhyped into the self-sustained propaganda monster it has become) to allow a "controlled demolition" of the world economy. You could tell that 2019 had some real warning signs going on, and a lot of the recovery from the Recession, especially in the past few years, was like a bubble. It had to burst sometime, so the best way to make it burst was to give everyone something else to focus on and let the elites vacuum up the wealth they could before it all collapses.

Or something like that. I'm not well-versed enough to really say I agree or not, but it is an interesting theory and potentially the most plausible reason the world doubled and tripled down on the scamdemic. Everything else, like "get Trump out of office" or Great Reset technofeudalism garbage, was secondary/a welcome side effect.

Basically this. 2008, apparently the worst economic crash in 80 years, was not a crash but a controlled, soft deflation. Economists all warned that a double-dip recession was going to take place and that kicking the can down the road would make things much, much worse. roll on 2019 when the can kicking could no longer continue, and we have the chinkflu. Either very fortunate timing, or a planned event.

With 2008 in living memory of everyone who was working at the time (those most affected by the recession), it wouldn't go over well with joe public if the banks were blamed again. Not after the billions in tax payer bail outs. The government couldn't be blamed as that would lead to a change of power and pendulum swing.

How do you get people to hand over money, cut jobs, increase taxes, print money hand-over-fist, raise prices, cut supplies, increase costs and reduce wages voluntarily*? You say it's to save granny. Everything that has happened since 2020, has followed the pattern, or outcome, of economic shift. Most people don't join the dots because they can't see the pattern.

And is anyone talking about the economy? Nope. Just mandates, masks and jabs. Pro or anti covid, you're talking about covid, not the impending financial shit storm that is about to hit the middle and lower classes.

*People will take a pay cut to continue to work from home, to avoid going in to the office. This means companies can save money by downsizing land, use less money on resources like water, gas and electricity, and offset the carbon footprint to YOUR HOUSE. Das rite, those companies who promised 0 carbon emissions by X year, will achieve it, because those emissions will be on you, that you will have to pay for. Charge your tesla at home, not work. Use your electricity to power works' laptop and computer, to carry out tasks for your employer.

I;m not an economist or financial expert. But as an autistic retard, pattern-recognition is as natural to me as flight to a bird. And right now, my sped alarms bells are ringing, or is it tinitus?

 

[Sneed's Feed And Seed]

I am personally hoping for a Cross between mad Max and Yugioh where Warlords decide battles with Magic the gathering games.

Card games on motorcycles?

 

[Honka Honka Burning Love]

Card games on motorcycles?

More like card games on the back of spikey psycho trucks.

 

[Ishtar]

There's speculation that the scamdemic was deliberate (as in totally overhyped into the self-sustained propaganda monster it has become) to allow a "controlled demolition" of the world economy. You could tell that 2019 had some real warning signs going on, and a lot of the recovery from the Recession, especially in the past few years, was like a bubble. It had to burst sometime, so the best way to make it burst was to give everyone something else to focus on and let the elites vacuum up the wealth they could before it all collapses.

Or something like that. I'm not well-versed enough to really say I agree or not, but it is an interesting theory and potentially the most plausible reason the world doubled and tripled down on the scamdemic. Everything else, like "get Trump out of office" or Great Reset technofeudalism garbage, was secondary/a welcome side effect.

I always felt this as well. Better the edifice be brought down in a controlled way now, than the system collapse on its own accord later.

 

[mindlessobserver]

China's unemployment rate is sky rocketing.

China is also abandoning major projects in Pakistan. All the emerging economies are falling over right now.

 

[Nacho Man Randy Salsa]

A controlled societal collapse. What arrogance.

 

[z0mb0]

I always felt this as well. Better the edifice be brought down in a controlled way now, than the system collapse on its own accord later.

a collapse while awful is like a gunshot wound or explosion once it settles down you can start moving around making plans, trying to do a controlled demolition would be more a slow blow torch skin treatment. Your fucked either way but the slow going is more likely to fuck you up

 

[Keystone]

A controlled societal collapse. What arrogance.

They're betting everything, including their lives, on being able to control such chaos. Final result should be fun. Just remember that no matter your status in this world you can't get off Mr. Bones' ride.

 

[Nacho Man Randy Salsa]

They're betting everything, including their lives, on being able to control such chaos. Final result should be fun. Just remember that no matter your status in this world you can't get off Mr. Bones' ride.

They're playing with nuclear fire.