Global Depression 2022 - Time to do the Breadline Boogaloo!

[Terrifik]

47 billion down the drain..

https://www.nytimes.com/2023/11/06/business/wework-bankruptcy.html

WeWork, the real estate company that offered start-ups and individuals sleek quarters to pursue their entrepreneurial dreams, filed for bankruptcy protection in the United States on Monday after years of struggling to find its footing.

The company filed for Chapter 11 bankruptcy protection in New Jersey, as part of what it described as a “comprehensive reorganization” of its business

 

[Ancient Pioneer]

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47 billion down the drain..

This company was a dead man walking the moment covid hit the radar. The videos of their office tours and videos of "a day in the life of a xyz worker at wework" more or less confirmed this company was just burning money for its own sake.

 

[wtfNeedSignUp]

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47 billion down the drain..

https://www.nytimes.com/2023/11/06/business/wework-bankruptcy.html

It's a shame we don't have a WeWork experience thread here. The company was pretty much doomed to fail with the cost of renting entire buildings increasing while the ability of people to pay for it decreasing.

 

[Vyse Inglebard]

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47 billion down the drain..

https://www.nytimes.com/2023/11/06/business/wework-bankruptcy.html

https://archive.ph/0Cs4s

 

[HTTP Error 404]

Everyone remember this phrase: "complex debt instruments" and maybe "synthetic risk transfers."

https://archive.ph/kc51D

IF that sounds familiar, it should:



It took ~9 years for the banks to go from "hey I got an idea" to completely destroying the American economy, something we still haven't recovered from because the Fed is desperately propping shit up until hyperinflation kicks in and they can go fuck off to a private island somewhere.

And they just said "hey I got an idea" again.

 

[Fascist Kirk]

218 million dollars an hour added to the us national debt ...... Used to be worried about the fed printing money with QE, now Worried about yellen printing money with treasury bonds. the dark truth is the fed and the department of treasury can and do print money ..... Considering yellen used to be the fed chairman it only makes sense. inflation ain't over strap in folks, we are in for a Poverty ride

 

[derpherp2]

It took ~9 years for the banks to go from "hey I got an idea" to completely destroying the American economy, something we still haven't recovered from because the Fed is desperately propping shit up until hyperinflation kicks in and they can go fuck off to a private island somewhere.

I love it when industries make magic fucking words to describe the most banal of shit but apparently cant figure out simple cause and effect.

 

[The Hardest R]

I love it when industries make magic fucking words to describe the most banal of shit but apparently cant figure out simple cause and effect.

It’s not that they can’t figure it out, they just know there won’t ever be any consequences for them when it blows up but they get nice bonuses for implementing all their magic words. So they’re going to keep doing it because there’s nothing but incentives to do so.

 

[derpherp2]

It’s not that they can’t figure it out, they just know there won’t ever be any consequences for them when it blows up but they get nice bonuses for implementing all their magic words. So they’re going to keep doing it because there’s nothing but incentives to do so.

Yes what do you think the banal shit is for.
You can’t gaslit reality or the consequences of your actions especially if you’re a retard hiding behind big words to excuse your faggotry. But they sure do love gaslighting themselves into believing it.

 

[Audit]

Good news everyone! The federal reserve says that unemployment is actually way lower than thought and that all of the gig economy workers are happy with their precarious lives. We need MORE migration to fill all these job openings!!!!

Millions of "gig" workers may get missed every month in the U.S. government's employment report, a discrepancy with implications for how Federal Reserve officials size up the job market and any associated inflation risks.

Research prepared for a Boston Federal Reserve labor market conference found that whether driving for Uber to make ends meet or taking piecework jobs in retirement, casual contract workers sometimes don't consider themselves "employed" or even a part of the labor force.

article

 

[Fascist Kirk]

just noticed a jar of best food mayo is 10 us dollars, what in the actual fuck is going on?

 

[Audit]

just noticed a jar of best food mayo is 10 us dollars, what in the actual fuck is going on?

Price of eggs has gone down after the scamdemic but you should see the price of seed oil. Canola futures are trading at ~2x the 2019 cost. I'd say that's where a bunch of your mayo cost increase is coming from. Soybean oil prices are even worse.

 

[Darkholme's Dungeon]

Canola futures are trading at ~2x the 2019 cost. I'd say that's where a bunch of your mayo cost increase is coming from. Soybean oil prices are even worse.

Quick rundown of the situation for those not in ag.

• China got fucked by torrential rains, 2nd largest producer after EU (Combined) for Canola oil
• Soybean forecast for Brazil expected to be in the shitter due to weather patterns
• Soybean harvest this year was not very good in the US but not "lmao what harvest?" like Brazil
• Xi agreed to reserve a shit ton of soybean produced in US ahead of time for 2024 and buy 2023 crop in US (which originally China was not buying due to trade war)
• Very little available soybean for everyone else, still dependent on 2024 crop not getting fucked by a drought/severe weather.

Quick note for people, you shouldn't be eating "vegetable"/Canola/(rapeseed) oil. Erucic acid is bad for the heart and the lowest they can breed it to is about 2%. Do yourself a favor and just buy lard instead (or peanut/sunflower/hemp oil)

 

[indomitable snowman]

Price of eggs has gone down after the scamdemic but you should see the price of seed oil. Canola futures are trading at ~2x the 2019 cost. I'd say that's where a bunch of your mayo cost increase is coming from. Soybean oil prices are even worse.

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I wonder if this will force manufactures to maybe go to animal fats instead of the vegetable oils.

 

[Mooger Meng]

I wonder if this will force manufactures to maybe go to animal fats instead of the vegetable oils.

Probably not, if only due to relative cost and not the usual "meat is for the rich" mentality.
On the other hand, not a damn thing is stopping you from getting mason jars and saving that bacon grease.

 

[George Lucas]

There were no eggs at my grocery store.

 

[GunCar Gary]

There were no eggs at my grocery store.

do you happen to live in australia, which seems to be going through the "no food" stage of total authoritarian government, or a real country?

 

[George Lucas]

do you happen to live in australia, which seems to be going through the "no food" stage of total authoritarian government, or a real country?

America

 

[GunCar Gary]

America

equal parts informative and horrifying, hope your supply chain gets fixed soon brother

 

[indomitable snowman]

I would point out it is thanksgiving week and depending on when you go to the grocery store it can be a madhouse with many items low stock or out of stock.