Global Depression 2022 - Time to do the Breadline Boogaloo!

  • Registration closed, comedy forum, Internet drama, Sneed, etc.

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.

Meat Target

A&H Chief Meateorologist
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Jun 24, 2020
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Knight of the Rope

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Mar 3, 2021
I know people on here have different point of views, but I'll say it again, in a downturn you'll want cash. You may whine cash will lose 4% this year, but many many other asset classes will or could lose far more than that. 4% loss sounds downright lovely compared to what other assets will lose.
And I'll disagree with you again. Granted, the stuff you're saying about crypto is solid: unless the crypto kiddies plan to hodl like they actually mean it for once (it's going to be hard to diamond hands when you bought in at $50k and bitcoin just crossed under $15k), they're wiser to get out now while the exchanges are still functional rather than trying to 'perfectly' time an exit. But your advice of liquidating all of your assets and non-meme stocks is just brainlet tier. When this shit bottoms out you're going to have plenty of whales and big-time asset owners exercising that same 'buy buy buy!' re-entry into the stock market that you think is a genius tactic. Only you're just not going to be able to do it the same as these actual money-movers can, and you're actively hurting yourself financially by thinking you can try while inflation continuously burns through your cash reserves.
 

DiscoRodeo

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Jun 10, 2020
For the most part, asset bubbles are going to crash. In this sense, and without widespread market adoption, Id honestly guess that crypto will crash as well.

The market will likely have to adopt crypto in common usage someday, but it definitely hasn't so far, as much as cryptobros want to cheer that on.

Cash is good, but assets not affected by the bubble are best. Most assets, I suspect, will turn out to be liabilities (especially for people with mortgages that they likely cannot afford).
 

Honest Coyote

Grandma had it coming
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May 22, 2019
Why does everyone think Putin wants to invade europe? He doesn't even really want to invade Ukraine, this whole nonsense with respect to Ukraine could've been dropped if NATO didn't insist upon adding them to their ranks.
He doesn't want the territory, but he does want buffer states between Russia and what he considers aggressive rival powers. His parents were in Stalingrad during the siege, and his older brother died there. Then he was trained up through the Russian security sector. The idea of an invasion against Russia isn't unthinkable to him; and he grew up surrounded with the aftermath, so he has a very clear idea of what a conquering army can do. Breaking down NATO and the EU are effective ways to reduce the threat of Western Europe and America.

He would likely never directly invade, but he may try to use old KGB tricks to destabilize countries, just like we do with CIA-backed coups and color revolutions. He's probably been studying American spook tactics since the 1970's, and I'm sure he's got some ideas on how to implement them to his advantage.
 

Polarity

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Nov 23, 2021
Most millennials have yet to live through any form of a market that goes down. Post 2008 and the start of quantitative easing, you could lock away trivial 10% yearly gains in an index fund or get some sweet leveraged 30% gains by buying in practically any major city in the US. This led to the rise of all the FIRE nonsense with people trying to retire on 500-800K. Sure, the math works out if you assume constant gains just like pension systems do. Try withdrawing 30K when your savings get cut in half and see how you feel. Gonna "barista FIRE" and get a job for benefits when the market is down? Good luck, they aren't gonna hire someone who spent the last five years blogging with everyone else out of work.

The idea that this is the end of America or that this will lead to some sort of civil war is just meaningless doomposting and isn't remotely actionable. Markets might crater or trade sideways for a decade, big cities will get more restless and anyone with capital will just move away, stuff will get more expensive and the wealth gap will continue to widen, but it will recover as it does. It's only the end of the world if you live beyond your means and leverage risky investments.

The only bright side to this is that economists are gonna have a hell of a time selling the same story about how printing infinite money is actually good for the economy after this. Good luck dropping interest rates with inflation nipping at your heels.
 

Kujo Jotaro

Every Man Dies
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Dec 21, 2018
De-dollarization continues

During an interview with the state-run Tass Russian News Agency on Tuesday, Denisov said the two nations "are switching to national currencies" when it comes to bilateral transactions. And though the pair was not planning to "completely switch," he suggested that the introduction of sweeping sanctions by Washington may "somewhat speed up" the process.
 

MirrorNoir

Un, deux, trois, dit miroir noir
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Aug 7, 2018
Banker scum killing themselves in 2008 was funny and it will still be funny in 2022.
Sadly 2008 killed the whole "bankers kill themselves after a crash" meme that started with the Crash of 1929.

Sure there was some suicides, but they were of low level executives and no one of value or importance. ALL of the architects of the 2008 crash not only got off scott free but had GOLDEN PARACHUTES that made damn sure they got to live happily ever after!

To such a degree, that I found myself wondering if ANYONE in Wall Street actually killed themselves or if the notion was one mass manufactured meme created by the left and the New Deal to protect the banker/Wall Street class by making up stories ala 1984 to trick the masses into thinking the people that caused THAT crash all an heroed themselves to keep the public from killing them themselves.
 

SCSI

Improperly Terminated
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Aug 8, 2021
Sadly 2008 killed the whole "bankers kill themselves after a crash" meme that started with the Crash of 1929.

Sure there was some suicides, but they were of low level executives and no one of value or importance. ALL of the architects of the 2008 crash not only got off scott free but had GOLDEN PARACHUTES that made damn sure they got to live happily ever after!

To such a degree, that I found myself wondering if ANYONE in Wall Street actually killed themselves or if the notion was one mass manufactured meme created by the left and the New Deal to protect the banker/Wall Street class by making up stories ala 1984 to trick the masses into thinking the people that caused THAT crash all an heroed themselves to keep the public from killing them themselves.

Some of them at least had to shell out for some massive legal bills in order to slither away from what they really deserved -- AIG and Wachovia both had some very, very expensive litigation stemming from their subprime lending shenanigans that resulted in a ton of lawyers and other litigation support nerds getting paid phat cash to work a soul-destroying number of hours. I'dve happily traded that for watching some bankers fly, though.
 

MirrorNoir

Un, deux, trois, dit miroir noir
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Some of them at least had to shell out for some massive legal bills in order to slither away from what they really deserved -- AIG and Wachovia both had some very, very expensive litigation stemming from their subprime lending shenanigans that resulted in a ton of lawyers and other litigation support nerds getting paid phat cash to work a soul-destroying number of hours. I'dve happily traded that for watching some bankers fly, though.
Sadly that money was just a drop in a bucket for the banks; remember, these fucks sit on all sorts of cash and pretty much every illegal thing these mega banks do, are predicate on "can we easily afford the inevitable fine if we get caught?" logic o them being able to cut a check to the AG when they get caught (and even then, 99.9% of the time will fight said fine purely out of spite being made to pay it)
 
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AnonAutismo

Ambassador of Autismo
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Jul 11, 2017
(and even then, 99.9% of the time will fight said fine purely out of spite being made to pay it)

It makes a certain cynical sense because if the authorities have to fight a years long legal battle and spend millions just to slap a fine that barely makes back their expenses then it makes them less inclined to prosecute the next time.
 

FatalTater

Fattest Among Thousands, Altogether Lethargic
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Remember in the 70's when the economy shat itself and inflation was the topic du jour no matter who you spoke to? We survived that but...

Did consumer goods prices ever go back down?

I already know the answer but this keeps banging around in my head and I wanna dump it somewhere so here ya go.
 

Save the Loli

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Jul 1, 2017
Remember in the 70's when the economy shat itself and inflation was the topic du jour no matter who you spoke to? We survived that but...

Did consumer goods prices ever go back down?

I already know the answer but this keeps banging around in my head and I wanna dump it somewhere so here ya go.
Sure didn't. As you should know, the American worker never again had more purchasing power than in the early 1970s. Check out some other fun stats too, like how the minimum wage around 1970 was the highest in history when adjusted for inflation, equivalent to almost $12/hr, although back then there were less minimum wage employees because so many people had good union jobs. It was very easy to make it into the middle class back then.

Now TO BE FAIR, a lot of consumer goods are more complex these days for better or worse, but there are things to be kept in mind. For instance, any new cars you buy these days are going to be at worst just as reliable as your average new car back in the 70s but a hell of a lot more fuel efficient, and back in the 70s there was no equivalent to something like a 00s/early 10s Corolla or Sentra in terms of reliability and fuel mileage. Similar story with a lot of other appliances in terms of reliability and functionality, and that's before you get into silly features like your dishwasher being on the internet.

But overall, 1945-75 was definitely a true era of prosperity for the Western world (and even the commie world enjoyed significantly higher living standards than pre-WWII). But I don't think you could easily bring back that era. There's too much political red tape from both sides and too much corruption to uproot, corruption which established itself in that era but we overlooked/told them to be on their best behavior (check your politicians, and see how many degrees of separation they are from notoriously corrupt politicians of the past). I think the ideal world is reaching the circumstance of that era again through a parallel path more suited for the modern world, which isn't popular because conservatives ignore the fact the past is dead and progressives want a future of globohomo UBI serfdom.
 

Inspector Rex

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Oct 23, 2020
An inflationary crisis is the method the US dollar will die, pay attention to the US-Ukraine-Russia spat right now, Biden keeps bragging about how sanctions will crush Russia but it completely misses the point that Russia is largely disconnected from the global economy the US dominates, has very low debt-to-gdp and I believe has a very large gold reserve explicitly for this purpose, something near 600b in gold reserves, far larger than the US Dollar reserves. Sanctioning Russia screws over the EU, not Russia
Idk man, things look as bad here as in US, it's a never-ending economic crisis since 2014, and it's even worse since COVID has started. Workers shortages, inflation, prices rising constantly - it's all the same stuff that I've read in this thread.

I've recently learnt that I'm in top 10% of Russian wagies by income apparently, but the both present and future seem bleak nevertheless.

And now we have ethnic tensions that are pumped by the media and social networks, which makes me think that something bad is going to happen. Like, there always was some disdain for migrant workers from Central Asia (rightfully so), but I think they're being purposefully intensified now.

Maybe it's all a 4D chess by Putin to consolidate population and make some kind of economic jump during global crisis, but I'm done believing in fairy tales.

 
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FatalTater

Fattest Among Thousands, Altogether Lethargic
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Not to be too tinfoily, but if I wanted to have a global currency, devaluing the US dollar would be a good start to getting it accepted. Then, it would be like "Why use this New Money? Because *item* costs 100 dollars but only 1 New Money. Which is the better deal?"
 

Honka Honka Burning Love

I am the Clownvis..Honk Honk Ba Donk.
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Aug 29, 2019
Remember in the 70's when the economy shat itself and inflation was the topic du jour no matter who you spoke to? We survived that but...

Did consumer goods prices ever go back down?

I already know the answer but this keeps banging around in my head and I wanna dump it somewhere so here ya go.
Hold up I can solve this

*Opens Stellaris*

*Opens edicts, turns on Artisan subsidies to increase consumer goods production*

I FIXED IT GUYS.
 

attractive_pneumonia

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Joined
Jun 27, 2019
Idk man, things look as bad here as in US, it's a never-ending economic crisis since 2014, and it's even worse since COVID has started. Workers shortages, inflation, prices rising constantly - it's all the same stuff that I've read in this thread.

I've recently learnt that I'm in top 10% of Russian wagies by income apparently, but the both present and future seem bleak nevertheless.

And now we have ethnic tensions that are pumped by the media and social networks, which makes me think that something bad is going to happen. Like, there always was some disdain for migrant workers from Central Asia (rightfully so), but I think they're being purposefully intensified now.

Maybe it's all a 4D chess by Putin to consolidate population and make some kind of economic jump during global crisis, but I'm done believing in fairy tales.

Russia is never going to be some first rate economic power, even when the USSR was at its peak it was still inferior to the average Western nations. What I'm saying is that Putin has kept Russia quite lean so if the Biden admin does the sanctions it wont be as hard as a blow as the Dollar collapsing as the reserve currency will be for the US. Just within the past week a headline floated past that works towards this end. China and Russia signed some sort of agreement for Natural Gas, nothing unique there -- but at the end of the article the doomsday news was written, the gas was to be settled in Euros. The other powers are moving away from the erratic and irrational US led system. I'm almost certain that the Petrodollar will end this decade and the huge amount of inflation the US has exported abroad will come crashing down on the US citizenry.