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.
InwardsStink said:
Sounds like socialism to me. These publicly traded companies would also have to answer to their shareholders why they are giving money away to the general public instead of paying dividends.

I’m not a brilliant financial mind but I can see that.
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Corporations being legally required to try and squeeze every bit of profit they can out of society is the root of almost every problem in society. That's why we have entire industries transitioning to making shit products meant to be replaced every year and all the jobs have long been shipped to China (or Mexico, thanks NAFTA!). It's all about that short-term benefit now.
moocow said:
Carry on with the Jewish interpretation as you wish, though. That's always worked out so well for them.
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It has because they almost never suffer the consequences for it except when their accountant gets too frisky with the balance sheet and they do really stupid shit like Enron did. Or recently when the CCP said "lockdowns FTW" and fucked up their supply chains.
Ruin said:
Dude, in the twenties people like Henry Ford built libraries, stadiums, and even public infrastructure like Subways. When's the last time an American corporation did anything for the public good instead of leeching the wealth out of the nation, stashing it in offshore bank accounts, and using their money to fund illegal immigration, troon degeneracy, and anti white propaganda?

Corporations were more beneficial and socially conscious a hundred years ago when there were actual literal robber barons and monopolies.

How fucking insane is that and why the fuck are you defending it?
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Fortunately, Larry Fink of Blackrock and his buddy Klaus Schwab at the WEF have solved this problem with their "stakeholder capitalism" grift by rolling out the ESG score. Sometimes you'll see it as "corporate social responsibility." Obviously, funding troonism, mass immigration, racial hatred, and paying for freaky degenerate modern art like that weird big-headed black person statue is just as valuable to society as funding libraries and shit.
 
Matt Damon said:
Is anyone really still paying extortionate prices for phones in 2022? I thought that ended the better part of a decade ago.

I buy a basic $200-250 phone every 3-ish years and pay $5 a month for one of the Verizon MVNOs.
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I buy a nice $500 phone to last a decade. RIP Nokia N900, you don't deserve this fate, real Linux and QWERTY slide keyboard.
 
Buy a new condition iPhone that's a few generations old for half it's original price and you'll still get a good 6-7 years out of it.
 
Sneed's Feed And Seed said:
Or the latest hunky cat-ear-man-with-a-sword on their Chinese lottery game
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I am happy to pay 5 USD booba tax every month to arm the CCCP against der juden.

But 2d chinese fairy tale milkies aside, Hungary is trying to buy even more Russian gas and get it all through Serbia so ukroswine can't do jack shit.

Gas and electric subsidies got cut. Gas is now like 80% market value, electric 20% from both being around 10% market value.

Hate for US and ukies is going to get seethin' as the cheap utilities is the Holy Hun Gibsmuh Grail.

We'll have at least food though. Coal plants are also coming back online! Fuck climate cultists, fuck Greta! Burn that coal like it is a gay book!
 
I don't know where to put this so I'll dump it here just for funsies.

I may have gazed into my crystal ball, then consulted another crystal ball, then heard a whispering from a tree outside and they all said -

Summer heat is going to get worse, if you're where wildfires can happen, prepare for the worst and watch your ass.

And

Earthquakes. If you live on or near a fault line, be ready.

The closest thing for a timeline I can get for this shit is August. That could be wrong. Hell I hope all of it is wrong. Wherever you are, go through your natural disaster emergency plans with a fine toothed comb, even if you feel secure. If I hear anything more concrete I'll try to post it.

Edit - I am hearing Thursday but I'm not sure for what.
Edit #2 - Thursday is July 28. That day was the start of something very bad in 1914. Also was bad for China in 1976.
Edit #3 - Variables are making things hard to pin down. Be careful, and try to do good. The world will need more of that.
Edit #4 - Power grid. If the part that your household/neighborhood is on fails, can you get by? For how long? Keep an eye on that sort of thing.
Edit #5 - Philippines got a 7.3 earthquake. 7/26
Edit #6 - Nancy Pelosi wants to go to Taiwan. China says no thanks.
Edit #7 - I'm hearing Monday August 1 for some shit hitting the fan. I hope not literally, I just mopped in here.

Sorry for schizoposting. I'm trying to keep it to this one spot.
 
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Cherenkovblue said:
Styx jumped the shark when he finally put a shirt on and started talking politics full time.
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Why is Styx bad though? Are his takes just retarded? I haven’t heard anything lolcow-worthy about him.

Ukraine is Big Gay said:
The irony being that they will spend more money trying to collections hound it and plead for bailouts with lobbying instead of netting free PR and maintaining more money than they would otherwise lose from total non payment if they instituted a temporary "hardship rate" of half off.

MANY SUCH CASES.
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Companies sell unpaid bills to collections agencies. Collection agencies are separate companies from telecom operators. The telecoms don’t ‘collections hound’. They simply send a few reminder bills, shut off service, and sell the balance to a collections agency at a discount, so they at least make some money and don’t have to pay for collections operations and deal with the liability of it. If the customer returns and pays the balance, the money now goes to the collections agency and the debt is settled. What usually happens is the collections agency and debtor settle at a lower balance, but still high enough to make some money for the collections agency. These agencies are scrappy little companies running at low margins, not big ‘scary’ corporations.

You know how we got into this recession in the first place? People giving away free shit.
 
Since it's taking a long time for the earth shattering kaboom to happen, I wonder if a global depression is even possible. If everywhere is hurting then no one place will collapse catastrophically.
 
wtfNeedSignUp said:
Since it's taking a long time for the earth shattering kaboom to happen, I wonder if a global depression is even possible. If everywhere is hurting then no one place will collapse catastrophically.
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Matt Damon said:
I don't understand your logic. Macroeconomic problems tend to be cascading problems, so the greater and more widespread the depression, the higher the risk of any one place collapsing is.
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I think @wtfNeedSignUp is more sharing the sentiment of "C'MON, I'M TIRED OF THE SUSPENSE, FUCKING CRASH ALREADY!"
 
FatalTater said:
I don't know where to put this so I'll dump it here just for funsies.

I may have gazed into my crystal ball, then consulted another crystal ball, then heard a whispering from a tree outside and they all said -

Summer heat is going to get worse, if you're where wildfires can happen, prepare for the worst and watch your ass.

And

Earthquakes. If you live on or near a fault line, be ready.

The closest thing for a timeline I can get for this shit is August. That could be wrong. Hell I hope all of it is wrong. Wherever you are, go through your natural disaster emergency plans with a fine toothed comb, even if you feel secure. If I hear anything more concrete I'll try to post it.

Edit - I am hearing Thursday but I'm not sure for what.
Edit #2 - Thursday is July 28. That day was the start of something very bad in 1914. Also was bad for China in 1976.

Sorry for schizoposting. I'm trying to keep it to this one spot.
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New Madrid fault should be something when she goes. There were a couple of mild earthquakes in Indiana back in 2008 or so that originated from there. There will be a major one here in the PNW at any moment along with any one of our many active volcanoes going off. The earthquakes are far more limited in destruction though than in the Midwest as the bedrock here is simply different, newer and less conductive to seismic energy than in the Midwest. But the Midwest will be fucked if NM goes off and us in the PNW when the SJdF slips or Rainer, Baker, Glacier Peak, Garibaldi, Hood, Shasta, etc blows. But we have basically no tornadoes here, so there is that, lol.
 
George Lucas said:
What does this have to do with Styx? (Sorry for being retarded.)
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They're interchangable. I still haven't seen them both in one room at the same time.
thatsthejoke.jpg
 
This is a great little blog/aggregator for up to date global economic news doom porn -


From today -


“The Energy Crisis Is Global… eye-watering prices are wreaking havoc around the world…

““We are experiencing the first global energy crisis,” said Jason Bordoff, an energy expert at Columbia University, who noted that the crunch has hit almost all of the world’s regions and energy sources. “The ripple effects are being seen globally, and I don’t think we’ve seen the worst of it yet.””

https://foreignpolicy.com/2022/07/22/global-energy-crisis-natural-gas-fuel-shortage-power-cut/

----

“Global slowdown fears darken as cost of living bites.

“The global economy looks increasingly likely to be heading into a serious slowdown, just as the highest inflation in a generation prompts central banks to aggressively reverse the ultra-loose monetary policy adopted during the pandemic to support growth, [business activity] data showed on Friday.”

https://www.todayonline.com/world/global-slowdown-fears-darken-cost-living-bites-1950726

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“Philadelphia Fed Factory Outlook Falls to Lowest Since 1979…

“Philadelphia-area manufacturers’ outlook for business conditions slumped this month to the lowest level since 1979 as gauges of future new orders and planned capital expenditures both deteriorated… “A US recession around the end of this year and early next is now likely.””

https://www.bloomberg.com/news/arti...ed-factory-outlook-falls-to-lowest-since-1979

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“Natural gas prices rising in US, dampening hopes for lower inflation.

“The price of natural gas in the US has risen by nearly half in the past month, as drought and the war in Ukraine continue to bite and millions of Americans turn up their air conditioners in a heatwave. Natural-gas futures jumped 48% this month, including 10% on Wednesday…”

https://www.theguardian.com/business/2022/jul/21/natural-gas-prices-rising-us-inflation

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“Britain faces a summer of strikes as historic inflation and falling real wages bite…

“Workers across pillars of the economy have been voting for industrial action over below-inflation pay offers — including transport workers, firefighters, doctors, nurses, teachers, postal workers, civil servants, lawyers and British Telecoms engineers.”

https://www.cnbc.com/2022/07/22/uk-...ion-and-real-wage-declines-stoke-strikes.html

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“UK debt interest payments jump to all-time high.

“Debt interest payments rose to £19.4bn last month, £10.3bn more than in June last year…

“A quarter of the UK’s government debt is index-linked, so the cost of servicing it is pushed up by inflation, which is running at a 40-year high.”

https://www.ft.com/content/6a7f5b1f-5110-4d36-a912-4ceb5a480eb2
 
K-Hole said:
“A quarter of the UK’s government debt is index-linked, so the cost of servicing it is pushed up by inflation, which is running at a 40-year high.”
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Which fucking government do I blame for this idiocy, then? I want to know who to be angry with.

All the downsides of inflation without even the silver-lining of devaluing national debt.
 
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