Global Depression 2022 - Time to do the Breadline Boogaloo!

[Splinters RCVD ✞]

A little something I found in Russian media:

Gas Futures in Europe Hit New All-Time High Above $2,150 Per 1,000 Cubic Meters

MOSCOW (Sputnik) - The price of European gas futures is growing by over 27% on Tuesday, exceeding $2,150 per thousand cubic meters for the first time in history, according to data from the London-based ICE exchange.

sputniknews.com

 

[Male Idiot]

A little something I found in Russian media:

Gas Futures in Europe Hit New All-Time High Above $2,150 Per 1,000 Cubic Meters

MOSCOW (Sputnik) - The price of European gas futures is growing by over 27% on Tuesday, exceeding $2,150 per thousand cubic meters for the first time in history, according to data from the London-based ICE exchange.

sputniknews.com

Orbán just signed a very favourable 15 year deal with them.

He denied all left wing accusations that the Russians were selling him way below market value.

Which either means he is a super negotiator, or that he owes Putin one.

 

[Simple Moving Average]

No, I think that so many things are happening at such a pace, and they have a very high profile and lots of people who don't like them to be very nice about it, losing their fucking minds idk if i'd want to be showing up for that either. Good security gets paid great. I'm sure they hire the best. They still gossip like the real house wives of atlanta, why risk your bullet sponge let it slip to someone your banging a third guy theres wife and now suddenly your on a chopping block?

You seem well-informed on how these types of things are run.

 

[Stoneheart]

He denied all left wing accusations that the Russians were selling him way below market value.

Which either means he is a super negotiator, or that he owes Putin one.

HE just told the EU to fuck of and got a longtime contract. the EU has been pushing for spot market sales for natgas for years now while russia wants a long term contract.

 

[Josterman]

Great reset article
https://www.reuters.com/article/fac...how-51st-annual-meeting-invites-idUSL1N2T6137

 

[Hippopatumus]

Great reset article
https://www.reuters.com/article/fac...how-51st-annual-meeting-invites-idUSL1N2T6137

Oh yeah that's terrific.

Let's see, this "fact check"
- Debunks "secret collusion" which is not the fact being checked
- Claims the letters are just invitations and totally sidesteps the claim
- Uncritically parrots the PM's claim that “The great reset is in our view just a simple term, or if you like a metaphor to ask the question what we can learn from the crisis and can do better after the crisis. Most certainly it is not what conspiracy thinkers make of it.” Well now hold on, the WEF announced the "Great Reset" in June of 2020. So if it's just a simple term for dealing with the crisis, why was it announced months before the crisis?

 

[Splinters RCVD ✞]

Italy's Draghi Says Europe Has No Capabilities to Impose Sanctions on Russia in Gas Field

The EU does not have any capabilities to impose sanctions against Russia in the field of gas and is not in a position to do that, Italian Prime Minister Mario Draghi said on Wednesday.

sputniknews.com

Italy being sassy with the EU.

 

[Hippopatumus]

Turkey has announced they will compensate people for losses in the Lira by crediting their bank accounts 1:1 for devaluation vs foreign exchange rates.

You don't really have to be an economist to see how that is a feedback loop of financial destruction.

 

[Male Idiot]

Italy's Draghi Says Europe Has No Capabilities to Impose Sanctions on Russia in Gas Field

The EU does not have any capabilities to impose sanctions against Russia in the field of gas and is not in a position to do that, Italian Prime Minister Mario Draghi said on Wednesday.

sputniknews.com

Italy being sassy with the EU.

It is being realistic though.
Unless Germany manages to build a few dozen nuclear plants and fuel them, EU is Russia's bitch for the forseeable future, and the Eu is just coping, seething and dilating.

 

[George Lucas]

Unemployment is dropping in the US. Explain to me how a depression is even possible at this point. Give me the timeline.

 

[Kujo Jotaro]

Unemployment is dropping in the US. Explain to me how a depression is even possible at this point. Give me the timeline.

Timeline
>you read the thread
>you research hyperinflation
>you come to your own conclusions

Nigga we can't predict the future.

 

[Hippopatumus]

Unemployment is dropping in the US. Explain to me how a depression is even possible at this point. Give me the timeline.

- Inflation heats up further
- Fed raises rates to fight inflation, which kills zombie corps
- Contagion hits, markets crash, people lose their jobs
- Short-term deflation hits as the economy grinds to a near total halt
- Fed lowers rates, as it is cornered and out of options
- Inflation skyrockets as the economy whipsaws back into a melt-up
- Employment fails to return to earlier levels because the damage is done
- Fed continues its inflationary debt spiral until the dollar implodes

After all that, chaos reigns, voters demand action. Congress authorizes a bill re-valuating the US dollar, in cooperation with other Western nations. A global depression takes hold. Few in western countries starve, but the middle class is decimated permanently. By 2030 America is a shell of its former self, while the upper classes avoid the worst of the carnage.

 

[Shadfan666xxx000]

- Inflation heats up further
- Fed raises rates to fight inflation, which kills zombie corps
- Contagion hits, markets crash, people lose their jobs
- Short-term deflation hits as the economy grinds to a near total halt
- Fed lowers rates, as it is cornered and out of options
- Inflation skyrockets as the economy whipsaws back into a melt-up
- Employment fails to return to earlier levels because the damage is done
- Fed continues its inflationary debt spiral until the dollar implodes

After all that, chaos reigns, voters demand action. Congress authorizes a bill re-valuating the US dollar, in cooperation with other Western nations. A global depression takes hold. Few in western countries starve, but the middle class is decimated permanently. By 2030 America is a shell of its former self, while the upper classes avoid the worst of the carnage.

I wouldn't necessarily say the middle class is doomed though. Anyone with decent savings will probably end up rich if they play their cards right (a depression is basically just a big dip to buy) and everyone I talk to knows what's up. It doesn't matter if it's the pizza delivery guy, the office milf or a weedhead. Everyone I see has at least a vague game plan which is more than people could say back in 1929. I think we'll make it at a greater amount than last time bros.

 

[Hippopatumus]

I wouldn't necessarily say the middle class is doomed though. Anyone with decent savings will probably end up rich if they play their cards right (a depression is basically just a big dip to buy) and everyone I talk to knows what's up. It doesn't matter if it's the pizza delivery guy, the office milf or a weedhead. Everyone I see has at least a vague game plan which is more than people could say back in 1929. I think we'll make it at a greater amount than last time bros.

I see people in general preparing for the upcoming crash in two primary ways:

- Buying stocks (stocks track with inflation!)
- Buying crypto

Those stocks could take a 70% haircut in the next 12 months.

And crypto. Well, the government has shown in the past it is unwilling to relinquish its control over money. I believe one of the primary elements of currency revaluation will be capital controls that, while not necessarily killing crypto dead, will bring the entire sector to essentially zero, once offramps are banned and trade is made illegal.

 

[Shadfan666xxx000]

I see people in general preparing for the upcoming crash in two primary ways:

- Buying stocks (stocks track with inflation!)
- Buying crypto

Those stocks could take a 70% haircut in the next 12 months.

And crypto. Well, the government has shown in the past it is unwilling to relinquish its control over money. I believe one of the primary elements of currency revaluation will be capital controls that, while not necessarily killing crypto dead, will bring the entire sector to essentially zero, once offramps are banned and trade is made illegal.

What would you suggest?

 

[Hippopatumus]

What would you suggest?

I'm in precious metals, but I want to temper that with the reality that capital controls can come for those just as easily as crypto. The reason I am in PMs is because I feel there is a small chance that the government leaves them alone when it introduces capital controls targeting the crypto sector.

It's a huge gamble.

 

[George Lucas]

- Inflation heats up further
- Fed raises rates to fight inflation, which kills zombie corps
- Contagion hits, markets crash, people lose their jobs
- Short-term deflation hits as the economy grinds to a near total halt
- Fed lowers rates, as it is cornered and out of options
- Inflation skyrockets as the economy whipsaws back into a melt-up
- Employment fails to return to earlier levels because the damage is done
- Fed continues its inflationary debt spiral until the dollar implodes

After all that, chaos reigns, voters demand action. Congress authorizes a bill re-valuating the US dollar, in cooperation with other Western nations. A global depression takes hold. Few in western countries starve, but the middle class is decimated permanently. By 2030 America is a shell of its former self, while the upper classes avoid the worst of the carnage.

Timelines have dates attached to the entries dumbass.

 

[DejaThoris]

By 2030 America is a shell of its former self

Jeez, I thought we were already a shell of our former self. We are gonna be a shell of a shell of our former self.

 

[Kujo Jotaro]

I'm in precious metals, but I want to temper that with the reality that capital controls can come for those just as easily as crypto. The reason I am in PMs is because I feel there is a small chance that the government leaves them alone when it introduces capital controls targeting the crypto sector.

It's a huge gamble.

You're right, but at most I see them making the ownership of PM's illegal. I find it highly unlikely that they would find any success going door to door confiscating silver and gold. Millions of U.S. citizens own gold and silver in some quantity, mobilizing troops to go steal shit from the people is not a good look, and is likely to end with someone getting shot. This only goes for PM's held in personal homes or on personal property, if your PM's are stored at a bank or in a depository of some kind they're as good as gone.

Unfortunately I'll not get to participate in any precious metals black market shenanigans as all of my stores were lost in a flash flood.

 

[contradiction of terns]

I thought this was cool: Visualizing the $94 Trillion World Economy in One Chart

I'm a big Edward Tufte nerd and have his book about the visual display of quantitative data, so... yeah. I like charts.

In other news:

Israel scrambles to avoid paralyzing economy ahead of Omicron ‘tsunami’

The Slow Meltdown of the Chinese Economy

Biden aides see March 2021 rescue package as initial economic buffer against omicron

A few weeks ago, Mark Zandi, an economist frequently cited by the White House, was projecting that the economy would grow at a breakneck pace of 5 percent in the first quarter of 2022. As the omicron variant spread, however, Zandi revised his growth estimate down to 2 percent. Now he thinks odds are uncomfortably high that the economy may in fact contract at the start of next year.