Global Depression 2022 - Time to do the Breadline Boogaloo!

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Who is going to get hit the hardest?

  • North America

  • South America

  • Asia

  • Europe

  • Australia

  • Africa

  • The Middle East

  • Everyone's fucked

  • Nothing will happen

Results are only viewable after voting.
Inflation is rising and so are property values. Mortgage rates are at about 5.000% for a fixed 30 year mortgage. There is going to at least one gap between when the salary adjustments and when people start getting priced out of their own homes and apartments. This didn't happen in 2007-9 during the Great Recession and it didn't really happen in the 1970's to early 1980's when starter homes were still a thing in the suburbs and green spaces in between housing divisions. Now all the housing divisions are blocked in by 3 story apartment complexes for 'housing' and the only homes I see being built are these 4 bedroom 3 bathroom barn looking things on the edge of town. There are no more starter homes. There are no more entry level jobs. A college education is needed to be a clerk. Basically, you need to start selling drugs/nudes for crypto to get ahead.
 
AbendCode12 said:
Inflation is rising and so are property values. Mortgage rates are at about 5.000% for a fixed 30 year mortgage. There is going to at least one gap between when the salary adjustments and when people start getting priced out of their own homes and apartments. This didn't happen in 2007-9 during the Great Recession and it didn't really happen in the 1970's to early 1980's when starter homes were still a thing in the suburbs and green spaces in between housing divisions. Now all the housing divisions are blocked in by 3 story apartment complexes for 'housing' and the only homes I see being built are these 4 bedroom 3 bathroom barn looking things on the edge of town. There are no more starter homes. There are no more entry level jobs. A college education is needed to be a clerk. Basically, you need to start selling drugs/nudes for crypto to get ahead.
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Mortgage rates are in the high 5% range if you have a large down payment and excellent credit. If not add another .5-1%. We may see double digit mortgage rates in the future.
 
Beavis said:
Mortgage rates are in the high 5% range if you have a large down payment and excellent credit. If not add another .5-1%. We may see double digit mortgage rates in the future.
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We will see mortgage rates in the double digits. We will also see people renting out tool sheds for families to live in. How many tents can you rent out in your front yard?
 
Let's thank all the zoomers who showed up to the polls to #resist. Shame about their chances of home ownership which are gone for the rest of their lives. I really appreciate them helping guys like me pull up the ladder behind us though. My 2.9% 30-year fixed mortgage is looking sweet right now.
 

Things Are Bad Now, But You Ain't Seen Nothing Yet​


Authored by Michael Snyder via The Economic Collapse blog

At this moment, food prices all over America are at incredibly low levels. I know what many of you must be thinking. You must be thinking that I have lost my mind, because food prices have been rising at a very rapid rate all over the country. But when I say that food prices are at “incredibly low levels”, I am not comparing them to where they were in the past. Rather, I am comparing current prices to where they will be in the future. Yes, things are bad now, but food prices will be much higher a year or two from now.

The global fertilizer crisis certainly isn’t going anywhere. If anything, it is only going to intensify.

The same thing could be said about the war in Ukraine. Peace talks are absolutely dead, and so it looks like fighting between two of the most critical breadbaskets in the world will continue for months to come.

Meanwhile, the bird flu pandemic continues to wipe out millions of chickens and turkeys all over the globe.

We have never seen a “perfect storm” quite like this, but of course some of the factors that will be driving up food prices are entirely self-inflicted.

For example, the Chinese government didn’t need to lock down nearly 400 million people in a desperate attempt to prevent the spread of COVID. The past two years have provided ample evidence that such lockdowns are quite foolish, but the Chinese went ahead anyway.

As a result, there are now hundreds of commercial ships waiting impatiently off the coast of Shanghai.

2022-04-21 16.04.11 www.zerohedge.com 3ba579e35d49.jpg


Those are giant cargo ships that bring stuff across the Pacific Ocean to us.

If the Chinese don’t loosen up, many of our store shelves will become quite empty in the months ahead.

And it isn’t just commercial ships that are sitting idle…

Shanghai is one of the largest manufacturing centers in China, with heavy concentrations of automotive and electronics suppliers. It is home to the largest container port in the world and a major airport that serves inbound and outbound air cargo. Exports produced in Shanghai account for 7.2% of China’s total volume and about 20% of China’s export container throughput moves through the port there, according to the BBVA report.
Most warehouses and plants are closed, nine out of 10 trucks are sidelined, the port and airport have limited function, shipping units are stranded in the wrong places, and freight is piling up.
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Needless to say, many of our major retailers simply could not operate without the goods that they import from China.

So we better hope that this potential nightmare gets resolved very soon.

Here in the United States, food prices have been moving higher for months. Just check out these numbers…

The average price of butter grew 11.9% in the last year. Meat has been especially affected by supply chain issues, with 100% meat frankfurters jumping 35.2% since March of 2021 to an average price of $5.18 per pound. Ground chuck, pork chops, and whole chicken showed year-over-year price increases of 11.3%, 15%, and 11.7%, respectively.
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Those figures may look bad to you, but the truth is that they only represent the very early chapters of this crisis.

Things are going to get much worse, and here in April anecdotal reports seem to indicate that food price increases seem to be accelerating.

Earlier today, my attention was drawn to a thread on a popular Internet forum where people were discussing recent price increases that they had seen at their local stores. The following are a few examples that I pulled out of that thread…

  • “$10. for 1 lb. Bacon”
  • “5.19 for one pound of land o lakes butter”
  • “a 34 oz can of coffee was $6.99 now is $9.99”
  • “$1.09 for a single avocado”
  • “$2.31 for a head of iceberg lettuce”
  • “I shop for my elderly parents they buy Butterscotch Krimpets every week. Were 2.49 a box now 4.49.”
  • “I saw 15.99 per pound for ribeye steak at a grocery store in northeast Tennessee.”
  • “Paid $12.95 for a pack of raw chicken thighs a few days ago. Normally they are $3.00 – $4.00”
And thanks to the horrifying bird flu pandemic which is sweeping the nation, the price of eggs is going completely nuts…

The losses to egg-laying flocks have led to producers desperately racing to meet market demands for eggs and egg products, with egg prices increasing as a result. The average price of a dozen eggs is now close to $3.00, up from $1.60 at the beginning of the year, according to the USDA’s national egg report.
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If you think that these prices are wild, just wait until they double from their current levels.

All over the world, a great battle for food resources has begun. The Chinese saw this coming in advance, and so they have been engaged in the largest stockpiling program that any of us have ever seen. I wrote about this back in December, but back then most people didn’t understand the true significance of that article.

At that time, the amount of food that the Chinese had already accumulated was already extremely impressive…

Less than 20% of the world’s population has managed to stockpile more than half of the globe’s maize and other grains, leading to steep price increases across the planet and dropping more countries into famine.
The hoarding is taking place in China.
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Has the U.S. been doing something similar?

Of course not.

When things get really bad in this country, you will be on your own.

So I hope that you have been preparing for that.

Since the war in Ukraine started, nation after nation has started to implement export restrictions, and a global scramble for agricultural commodities has steadily pushed up prices.

Nobody wants to be caught empty-handed when the music stops, and so there is a race to secure precious supplies while it is still possible to do so.

Sadly, the poorest parts of the world will end up suffering the most as the wealthy countries grab what they can. The dramatic spike that we will soon see in global hunger will be absolutely heartbreaking.

But nobody can say that we weren’t warned in advance. This sort of collapse has been coming for a long time, and now it has arrived.

I would encourage you to stockpile food at these “relatively low prices” while you have the opportunity to do so, because they are only going to go higher from here.
 
Luckily for me I don't eat a lot. The price for everything is going up. The same pack of paper plate I get from sams club that is usually $12-14 is now $19.
 
Hippopatumus said:
Let's thank all the zoomers who showed up to the polls to #resist. Shame about their chances of home ownership which are gone for the rest of their lives. I really appreciate them helping guys like me pull up the ladder behind us though. My 2.9% 30-year fixed mortgage is looking sweet right now.
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This has nothing to do with the results of the 2020 elections. This was the Federal Reserve printing an absolutely insane amount of money during late Spring-Summer 2020. Its not entirely out of the question that the US dollar is going to devalue by 200-300% over the decade as the amount of money printed trickles down into the real economy. No economist really knows what is going to happen once the guaranteed recession we're facing kicks in, there is some speculation, but ultimately the US economy is in uncharted territory because the underlying causes of the inflation are just vastly different to prior events like the 1970s or late 1940s inflation shock from WW2. Nobody can say with confidence that the rate hikes will stop the inflation like the Volker hikes, the money is already printed, its just stopping new inflows. The total amounts printed are just unreal compared to prior events, the sad thing is, we may very well just be in the prologue of this crisis because the inflation crisis is shifting towards supply crisis in the form of energy and food shortages. Inflation tends to be a rearward indicator of what has already happened. Prices are up 50-100% for food and energy right now, as these companies try to project what the economy is going to be like by the time their products hit the market for sale, this causes a liquidity crunch as people have less to invest as their savings get liquidated for basic needs, thus creating a liquidity crisis that needs money printing to resolve, thus more inflation.

Its not a good situation at all, almost every intervention is a path filled with razor sharp thorns.
 
Hippopatumus said:
Let's thank all the zoomers who showed up to the polls to #resist. Shame about their chances of home ownership which are gone for the rest of their lives. I really appreciate them helping guys like me pull up the ladder behind us though. My 2.9% 30-year fixed mortgage is looking sweet right now.
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Won't be worth shit when they burn your house down alongside the others. Never underestimate niggers.
 
Jesus, this thread is depressing. I (kind of) understand why, but damn. Isn't there anything that can be done by the people to soften the blow?

@ForgedBlades (can't quote your post), I wouldn't listen to that Michael Snyder guy too much. He's one of those fearmongerers who profits off of stirring people up, as shown by the five books on Amazon he wrote talking about impending doom and apocalypses. While there is some truth to what he's saying, he's ultimately trying to scare people into turning to him as their guide and handing him their shekels.
 
Pennies and nickels are now worth considerably more than face value. Any pennies and nickels you get should be stored. If you don’t have space, sell them in bulk, but otherwise just save them.
 
Been reading a few new blogs that have caught my eye about all this shit.





No time to quote, comment or archive. Perhaps the fine fellows of this forum might like to do so...

Been feeling the hit in food prices for a year or so now. Just did a 300 bucks shop but I can't do more than that. Even pasta/rice/tinned goods have their cutoff point. I ate some noodles that were 18 months out of date the other day. Didn't kill me but not the best. Got a bad tum-tum off eating a bean chilli I made, but turns out it wasn't botulism, just not used to eating bean chillis.

Fuel prices hit quite hard as well. Bought a load of LED lightbulbs and replaced all my 'gas-guzzler' CFL's. Weren't even that expensive, and silly not to really at that price. I expect they will go up as even the normies find out they use literally 1/10th of the Electricity. Get 6500K for blue spectrum for daytime light. Get 2700K red spectrum for evening light. Easy for anyone to do.

Transport price rises have been the latest blow. 25 percent. Paid 20 quid for a journey that usually costs 15 quid. Might have got gouged, bit of that going on as well. Relative got charged a tenner more than that for the same journey until they called out their BS. So it's definitely a bit more expensive, but some taxi drivers are rounding it up to including the tip. Pro-Tip: Taxi drivers in UK already factor in costs of petrol, time, car maintenance etc. etc. so don't feel bad about not tipping. Do it if you can afford it. I do. Unless I get a tranny ranting about Trump. No tips for you.

Recently all the local cab firms got bought out and are now under the auspices of one super-firm. Prices are set. Can't haggle, plus now local councils are involved and read and take note of all the meter readings. More control, more centralised, less chance of a cabby doing you a favor. I used to get cabs before and meter was 32 quid but they said they would do it for 30 straight. They nearly always got a tip. Those days gone now.

Everything I've been reading seems to be correlating quite heavily with the rest of the shit. More and more talk of famines. Ukie/Ruskie conflict will impact both fuel/oil and also wheat/bread shit. Africa most pissed off. Shootings in Sri Lanka at protests to do with fuel/wheat price increases. Some dead.

It's all shaping up quite nicely for the first 21st Century World War.

U wot M8?

Ah, you thought you were special? You thought that you were something other than useless eater cattle that the higher ups had grand plans for? Easy mistake to make. They'll probably be making it in the 22nd Century (if we get that far - and let's face it, not many of us reading this thread today will).

These are the good days chums. Shitposting and Cheetos. Sour grapes and fine wines. An internet that has not just yet been regulated/deregulated to fucking hell and back. An internet you are not yet forced to connect to in that microchip in your arm just so you can get your daily ration of soylent. As long as you've not been a very naughty boy.

Yes, the good days I tell you. Where we can tell the other fellow who we don't like to go to hell and fuck himself sideways. In the future there will be no dissent and no enemies on the internetz. It's just that some people will love each other more than others. All animals are equal. No one will be innocent.

One more time, if you have the time:






Kind of interested what the greatest minds of my generation think...
 
The immediate fun coming down the pipeline isn't in interest rates or housing (that will come later) but rather in food. Ukraine and Russia supply something like a third of the world's wheat and a fifth of all fertilizer. Take the Russian ban on fertilizer exports, mix it with the Ukraine war upending Ukraine's planting season, and we're looking at food shortages in several countries by early fall. Probably not famine-level conditions mind you (at least until the civil unrest kicks off), but possibly enough to start spiking the cost of staple foods we take for granted as suppliers look to take advantage. And that's before considering any effects on North American crops like drought and lack of irrigation water.

No one can predict what exactly is going to happen, but we're gearing up for some very "interesting" times in the next 6 to 12 months.
 
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