Global Depression 2022 - Time to do the Breadline Boogaloo!

[Sped Xing]

So what I'm saying is replace the US military with guys who can afford to buy their own weapons and just really want to kill people.

It may sound bad, but no traditional Roman Army ever turned on Rome.

 

[Lorne Armstrong]

So what I'm saying is replace the US military with guys who can afford to buy their own weapons and just really want to kill people.

It may sound bad, but no traditional Roman Army ever turned on Rome.

No can do, because the people those guys want to kill more than anyone else are the folks who would be hiring them

 

[Sped Xing]

No can do, because the people those guys want to kill more than anyone else are the folks who would be hiring them

Again with the bug / feature thing.

 

[Autistic Joe]

That afternoon, the class waited outside the school building for Ari and then hung him from a tree.

Great analogy! But it should've been specifically an apple tree for poetic justice (and irony).

 

[ToroidalBoat]

So is money that's commodity - like gold or silver - really the best way to do money?

It can be decentralized, and could reduce or eliminate inflation.

 

[George Lucas]

Okay. What's tangible about the one that isn't tangible about the other?

‘whether or not that value is comparable to gold or silver is a matter of opinion’

 

[George Lucas]

On this note, using .999 pure silver as currency is beyond retarded, too. Pure silver tarnishes faster under regular handling and is more prone to damage due to it being softer than the historically accepted high limit of either 92 or 95 percent sterling, not to mention the fact you're using a grade of silver meant more for manufacturing and collectability to begin with meaning the costs in terms of labor are far higher since we've already established how easily mineable silver is running out and we blew a lot of the supply on shitty electronics that get chucked in the trash after a year.

Wrong. Silver tarnishes less when it’s handled regularly. Silver tarnishes the fastest when it sits around unprotected. That’s why you have to store it in tight containers or in silver cloth.

 

[Only A Retard Sometimes]

Wrong. Silver tarnishes less when it’s handled regularly. Silver tarnishes the fastest when it sits around unprotected. That’s why you have to store it in tight containers or in silver cloth.

just make sure whatever you keep it in is not PVC

 

[derpherp2]

So I have no idea what happened but there's been massive buzz about how "inflation is incredibly bad now" or some shit on the top news. tf happened?

Did a study finally smack people in the face with the inflation rate?

 

[contradiction of terns]

This seemed appropriate given the conversation: Turkish lira tumbles ahead of key decision on rate cuts, wages

Turks woke Monday to watch their currency plunge to 14 against the dollar early in the morning, then go past it to 14.62 until noon. The fragile Turkish lira already lost 40% of its value against the dollar since the beginning of the year, 28.3% of which is in the last month. The rating agency S&P downgraded its outlook on the country to negative at the end of last week.

The central bank sold foreign exchange in the currency market Monday noon, citing “unhealthy” price formation in the market. It is the bank’s fourth intervention within a month.

The Turkish government’s economy team, which held a five-hour emergency meeting late Monday, maintained a stony silence Tuesday on key financial issues such as expected rate cuts or minimum wages for 2022. Though the expectation was to have an agreement between the government, business circles and the labor unions on the minimum wage early this week, the final meeting was quietly shelved after the meeting between President Recep Tayyip Erdogan, Finance Minister Nureddin Nebati and central bank governor Sahap Kavcioglu. The three and their teams were also joined by the directors of public banks. A cryptic statement said that the talks were on the economic situation and economic plans. No statement was made after the meeting that ended around midnight.

The opposition, however, had plenty to say in parliament where the presidential budget for 2022 was under discussion. “The daily expenses of the presidency are 59 million Turkish liras ($4 million) by day and 41,000 liras ($2,800) by minute in 2021,” said Mehmet Goker, a deputy of the center-left Republican People’s Party. “In the meantime, there are people who cannot buy bread and families who watch their income melt away. Turkish lira is worth nothing.”

Also:
Europe's biggest economy is on the brink of a winter recession

 

[Only A Retard Sometimes]

So I have no idea what happened but there's been massive buzz about how "inflation is incredibly bad now" or some shit on the top news. tf happened?

Did a study finally smack people in the face with the inflation rate?

9.6% inflation in November.

 

[Sanshain]

So is money that's commodity - like gold or silver - really the best way to do money?

It can be decentralized, and could reduce or eliminate inflation.

From my own VERY LIMITED understanding of economics, it's all about the perception of value versus the reality of value.

Back when everyone used the gold standard, wealth was an absolute. You were as rich as your property. No more, no less. This imposed an absolute wealth cap on the world. It was a system that more or less killed the Roman Empire dead, after the Emperors began bribing their armies with literally a significant percentage of all the precious metals in circulation at that time and as a result were forced to debase the coinage until it had 'less gold than seawater', as Terry Pratchett would say.

Freeing the world from this system enabled a nearly-unfathomable increase in human productivity. Why? Well, there simply wasn't a practical way to make the average person rich before. Wealth was not accessible to regular people, due to them having to both acquire it physically and then protect it from being stolen. Plus it was inconvenient. Let's say you give a solid gold bar to a smelly peasant. You've just made them immensely rich... but you haven't actually given them any way to utilize their wealth at all. What's he going to do; shave little bits off with a knife and use them to pay for food, furniture, peasant stuff, etc? No, he's going to stick it in a hole somewhere.

On the other hand if that peasant has a credit card and you deposit that gold bar in a bank, then let him load the theoretical value of it into his card, you've just given him the flexibility to utilize his wealth in any way he sees fit.

Of course, that instantly introduces the issue as to what happens to that gold bar if 10,000 people try to cash out 10$ each of it's, say, 100,000$ value. What's the bank gonna do, shave 10$ worth of gold off it until it's gone? No, of course not.

Thinking about this for a moment opens up a lot of immediate logical questions and conundrums that economists have grappled with/sought to brutally exploit for centuries.

It is also why there are people out there who sincerely believe that we are ruled by alien lizards inside people suits. Not all of them are idiots. No, they've been people just intelligent enough to grasp the basics of systems like this, but not dedicated/bloody-minded enough to grasp all of its intricacies or internalize all of its contradictions.

To these people, it is genuinely easier and more logical to believe that bankers are alien lizards than actual humans.

I do not blame these people at all.

 

[Autistic Joe]

So I have no idea what happened but there's been massive buzz about how "inflation is incredibly bad now" or some shit on the top news. tf happened?

With the news, I think it's a combination of two things. First, the media generally having no real understanding of finance and economics (even most of the so-called "business" media). Second thing is just a continuation of the usual fearmongering. So they squawk about pretty much anything and everything that is squawkable every day, as if each day is in a vacuum. Which is why I take most media with a grain of salt, and wait for more level heads to weigh in with their thoughts.

Nothing has really changed as far as "inflation being bad" or not. Inflation actually isn't always "bad", for example the U.S. experienced plenty of inflation in the post WW2 era - but it was across the board in manufacturing supply, consumer demand, and the money supply grew with it, which is healthy inflation. The current inflation is NOT healthy because we have increased demand, reduced supply, and vast increases in money supply thanks to the Fed.

But there's no surprise here. Money Printer Goes Brrrr for two years now. We've been seeing and hearing about product shortages and supply-chain issues for months. There's been labor shortages, strikes, vax restrictions, unexpected weather patterns, seems like every possible hurdle to increasing production and distribution. So it makes sense to see increasing prices. This will eventually pass, but probably not as quickly as people like. (And if the government steps in and "tries to help", it'll probably just take longer.)

Meanwhile the media needs to justify their existence, so they act like nobody saw this coming and make it out to be an unprecedented world-ending apocalyptic event, just like they do with literally everything.

9.6% inflation in November.

I thought it was 6.8%?

 

[Hippopatumus]

When the source of inflation is economic productivity, it is a good thing--i.e. a silver mine produces silver ore that is shipped to a refinery that is shipped to a solar panel factory.

When the source of inflation is currency debasement, it is ALWAYS morally wrong. It is a criminal wealth transfer from the productive parts of an economy to unproductive parts.

The lizard people in our world have conflated the two kinds to dupe the masses into thinking the latter can be a good thing.

 

[Hippopatumus]

This is the national debt:

These are $100 bills. Actually since this picture was made the debt has skyrocketed from the $20T shown to $30T.

Being the world's reserve currency in the modern era has allowed the Federal Reserve to debase our currency to levels never before thought imaginable, because it has happened during a time of absolutely unprecedented technological progress and global trade.

But the laws of math cannot be broken. We have entered an inflationary debt spiral which is a self-reinforcing feedback loop which will lead to a worldwide depression. The USD will not recover from this.

 

[Sped Xing]

There is no such thing as absolute value in terms of wealth. Gold is worth less than water to the man in the desert, for classic example.

If everyone valued everything the same, thr only way to get wealthier would be theft or, god forbid, labor.

 

[Kujo Jotaro]

Freeing the world from this system enabled a nearly-unfathomable increase in human productivity.

How long is your nose?

"Guys its noble of us to rob you of your time and exploit your labor, WE'RE INCREASING PRODUCTIVITY GUY"S!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"

Let's say you give a solid gold bar to a smelly peasant. You've just made them immensely rich... but you haven't actually given them any way to utilize their wealth at all. What's he going to do; shave little bits off with a knife and use them to pay for food, furniture, peasant stuff, etc? No, he's going to stick it in a hole somewhere.

Of course, that instantly introduces the issue as to what happens to that gold bar if 10,000 people try to cash out 10$ each of it's, say, 100,000$ value. What's the bank gonna do, shave 10$ worth of gold off it until it's gone? No, of course not.

Bank's should be a place to store your wealth, not a place to seek a loan. Loans should be handled by creditors the two should never intertwine, its when they do that the problems we're dealing with manifest themselves.

 

[mindlessobserver]

9.6% inflation in November.

And this is using there fuzzy math that leaves out things like the price of gas and food. It also does not factor for worse localized inflation in places like New York City.

The actual inflation rate is probably much higher if you add this stuff in. This I going to get ugly as the Social Security pay out is tied to inflation. Next year it's getting an almost 6% boost as consequence.

How record Social Security cost-of-living adjustment will be impacted by high inflation, Medicare premiums

Retirees who are already contending with higher prices for food and health care may not cheer when they receive their Social Security checks in January.

www.cnbc.com

The 2023 adjustment is going to be ugly if this trend continues. The amount of money the US government is spending on Gibs and Security is completely out of control and the Federal Reserve just dumping cash on the economy is not helping matters. Worse, wages are sticky. They are not keeping up.

It's a heading for a calamity. And this time there is no Paul Volker to rip the bandaid off before its too late. They can't stop it now, and must instead pray they can somehow deflate this asset bubble without popping it.

It's never been done successfully before.

 

[Only A Retard Sometimes]

And this is using there fuzzy math that leaves out things like the price of gas and food. It also does not factor for worse localized inflation in places like New York City.

The actual inflation rate is probably much higher if you add this stuff in. This I going to get ugly as the Social Security pay out is tied to inflation. Next year it's getting an almost 6% boost as consequence.

How record Social Security cost-of-living adjustment will be impacted by high inflation, Medicare premiums

Retirees who are already contending with higher prices for food and health care may not cheer when they receive their Social Security checks in January.

www.cnbc.com

The 2023 adjustment is going to be ugly if this trend continues. The amount of money the US government is spending on Gibs and Security is completely out of control and the Federal Reserve just dumping cash on the economy is not helping matters. Worse, wages are sticky. They are not keeping up.

It's a heading for a calamity. And this time there is no Paul Volker to rip the bandaid off before its too late. They can't stop it now, and must instead pray they can somehow deflate this asset bubble without popping it.

It's never been done successfully before.

I may be naive but i think that they will raise rates.

 

[Hippopatumus]

It's a heading for a calamity. And this time there is no Paul Volker to rip the bandaid off before its too late. They can't stop it now, and must instead pray they can somehow deflate this asset bubble without popping it.

It's never been done successfully before.

Everything I have seen from the last couple years is that the elites have thrown in the towel on kicking the can any further. They are preparing for an imminent currency reset.

I may be naive but i think that they will raise rates.

They can't. It is too far gone to fix.

Volker Era rates wouldn't cut it.