Global Depression 2022 - Time to do the Breadline Boogaloo!

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Euro Zone CPI hits 5% for record high, awaiting US payroll data

archived 8 Jan 2022 05:23:40 UTC

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December Jobs Report: U.S. Added Only 199,000 Jobs - The New York Tim…

archived 7 Jan 2022 16:05:29 UTC

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The Eurozone has hit %5 inflation, which is being touted as a historic high. The jobs report for December underwhelmed, but unemployment as currently calculated is at an all time low. Which is why I pulled the shadow stats for unemployment.

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What, did the EU learn how to play "American Unemployment"? I.e. "you're not unemployed if you merely don't have a job."

 

[AncientPhosphur]

I guess the experts think preparing for shortages is for rubes.

 

[Justa Grata Honoria]

What, did the EU learn how to play "American Unemployment"? I.e. "you're not unemployed if you merely don't have a job."

Plenty of countries do that my shit hole country i come from has 50 % labour participation rate and only 15 % unemployment . Those 35% missing are just clerical error

 

[Mooger Meng]

I guess the experts think preparing for shortages is for rubes.

Being wrong about anything is showing weakness, and God forbid they look weak in front of the serfs.

 

[Planted]

My vision of the world has us transacting in gold, and silver(although it might only be gold) in literal millionths of an oz, or thousandths, or whatever division of silver and gold you think would be appropriate for daily transactions. All of it recorded on a ledger, and presumably governments would be held accountable by regular audits by other nations to maintain trust. Trust is the key pillar to moving forward in a post dollar world, and trust is one of the founding pillar's on which sound monetary policy is built upon.

@Kujo Jotaro

This is quite literally what cryptocurrencies are designed for (distributed guaranteed accurate/full trust ledger).
The governments of the world might not like it but they couldn't stop people trading gold for it in person. Would be the ideal way to 'send' gold, especially internationally.

 

[George Lucas]

Writing is pretty much the only skill I have outside of my current work, and I have no idea how I would put that to practical use. I actually did try to apply for foodstamps, but right now I make too much. Technically, I can get by on what I'm making right now, but I'm worried that soon I will have to start dipping into my savings if prices keep going up, which it seems like will happen. Gas is killing me since I live in an area where everything is so far away.

Ugh, that's how my friend is as well. Completely spent and tired all the time, and very depressed. I do not want to get another job, but don't really know of any way around this if prices keep going up

If you’re actually a good writer, get a job as a copywriter. Places are hiring like crazy and there is an extreme lack of talent in marketing these days.

 

[Kujo Jotaro]

@Kujo Jotaro

This is quite literally what cryptocurrencies are designed for (distributed guaranteed accurate/full trust ledger).
The governments of the world might not like it but they couldn't stop people trading gold for it in person. Would be the ideal way to 'send' gold, especially internationally.

Yeah great for drug deals

 

[contradiction of terns]

Did South America Just Change the Game for Corn and Soybean Prices in…

archived 8 Jan 2022 23:44:19 UTC

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The final month of 2021, weather trumped demand to provide year-end fuel in the markets. And Garrett Toay of AgTraderTalk says weather continues to drive prices this week.

“It's still weather,” says Toay. “The demand is going to come if these production cuts keep coming.”

The cuts to which Toay is referring is the most recent crop estimates coming from South America. Two estimates just this week show a 13 to 14 million metric ton cut to Brazilian soybeans, all due to weather concerns.

“We've got soybean prices that are nearing $14. And all of a sudden, we're looking at global soybean supplies, or at least the South American supply situation, that's now looking at a year-over-year decline rather than a year over year increase,” he adds.

He says if the South American crop comes in shorter than expectations, that will hep the U.S. Supply and Demand balance sheet, even as U.S. soybean exports continue to lag.

“And the focus from the Chinese, for the near term is on South America,” he adds. “January, February, March new crop is off American supplies. But ultimately, if the soybean crop continues to drop in South America, it’s going to drive some demand back to the U.S. on the export front in July, August, September timeframe. So, the focus is still focused on weather and focused on the beginning of the year money flows.”

The plentiful rain that I talked about in Brazil earlier in 2021 that allowed them to produce record crops has turned into severe flooding, which is, unsurprisingly, having an impact on the 2022 growing season.

Life comes at you fast.

 

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https://twitter.com/disclosetv/status/1481260258291032066

From the Biden thread. 7% inflation in 2021, way more than expected. And this is just what they're admitting.

We're so fucked.

Edit:

Further thoughts.

Obviously the stuff on the right is what happens if it occurs like it did in the 70s/80s. huge spike and then it goes back down. I.e., we're on the LEFT side of the hill, not the RIGHT side of the hill.
This presumes this time will be as bad as the 70s.
The 70s didn't see them literally shutting down the economy to try and rig an election and moneyprinting like half of all money in a single year.
The 70s didn't have wallstreet with logarithmic scales of money they claim to own due to stock forging
If it's as bad as the second mess in the 70s, expect it to start improving just in time for the 2024 election. Expect Biden to claim that he fixed the problem.
If it's worse than that, all bets are off. The idiots in charge unironically set up the conditions for Hyperinflation, so we'll see what happens.

 

[AncientPhosphur]

I guess with inflation hitting we’re going to see shortages in the grocery store as panic buying ensues after normies notice and get their tax return check

 

[Sped Xing]

I guess the experts think preparing for shortages is for rubes.

Buying that thing is.

 

[Non-breath oblige]

 

[Hippopatumus]

Obviously the stuff on the right is what happens if it occurs like it did in the 70s/80s. huge spike and then it goes back down. I.e., we're on the LEFT side of the hill, not the RIGHT side of the hill.
This presumes this time will be as bad as the 70s.
The 70s didn't see them literally shutting down the economy to try and rig an election and moneyprinting like half of all money in a single year.
The 70s didn't have wallstreet with logarithmic scales of money they claim to own due to stock forging
If it's as bad as the second mess in the 70s, expect it to start improving just in time for the 2024 election. Expect Biden to claim that he fixed the problem.
If it's worse than that, all bets are off. The idiots in charge unironically set up the conditions for Hyperinflation, so we'll see what happens.

Reposting this:

Things are FAR more dire than the 70s. This chart only goes to June.

 

[glad vlad]

So what are you supposed to do with your savings right now?

 

[Sneed's Feed And Seed]

So what are you supposed to do with your savings right now?

 

[Shrek]

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https://twitter.com/disclosetv/status/1481260258291032066

From the Biden thread. 7% inflation in 2021, way more than expected. And this is just what they're admitting.

We're so fucked.

Edit:

Further thoughts.

Obviously the stuff on the right is what happens if it occurs like it did in the 70s/80s. huge spike and then it goes back down. I.e., we're on the LEFT side of the hill, not the RIGHT side of the hill.
This presumes this time will be as bad as the 70s.
The 70s didn't see them literally shutting down the economy to try and rig an election and moneyprinting like half of all money in a single year.
The 70s didn't have wallstreet with logarithmic scales of money they claim to own due to stock forging
If it's as bad as the second mess in the 70s, expect it to start improving just in time for the 2024 election. Expect Biden to claim that he fixed the problem.
If it's worse than that, all bets are off. The idiots in charge unironically set up the conditions for Hyperinflation, so we'll see what happens.

My friends called me a doomer for saying we'd eventually have to pay the piper for the COVID money machine. I wasn't even doomsaying, they just thought I was insane for saying inflation would be faster than usual. Like it's literally economics 101 that eventually there will be an impact from an increased money supply, let alone the sheer volume of money added to the system. If you want my doomerposting I'll just say it would be infinitely worse if the USD wasn't the global reserve currency. Even other countries don't wanna know how bad it is and will gladly burry their heads in the sand about it.

 

[Sped Xing]

So what are you supposed to do with your savings right now?

Buy things that have value while people will still trade them for dollars.

 

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My friends called me a doomer for saying we'd eventually have to pay the piper for the COVID money machine. I wasn't even doomsaying, they just thought I was insane for saying inflation would be faster than usual. Like it's literally economics 101 that eventually there will be an impact from an increased money supply, let alone the sheer volume of money added to the system. If you want my doomerposting I'll just say it would be infinitely worse if the USD wasn't the global reserve currency. Even other countries don't wanna know how bad it is and will gladly burry their heads in the sand about it.

The left genuinely believes that complex systems are static, and can only move in a progressive, leftward direction, and only when lefties make changes, and changes only occur via the intended lefty change plan. Defund the police? Crime can't go up, police still have to respond just as fast, it's just the budget number go down, hur dur. Once you realize this "static systems" thing is dogma according to the left you can't NOT see it and it explains like 90% of their bullshit.

Double the amount of money in a single year? Oh nothing bad can happen we'll just have more money going around. Pay people the equivalent of $17 an hour in weekly stimulus checks to NOT work? Clearly this won't affect the economy in any way other than it will make people happy and they'll buy more stuff!

Unintended consequences? Sounds like a right wing chud conspiracy theory!

 

[Henry V]

I'm not well informed on the effects of fed tapering. Can someone give a rundown on what will happen immediately and later on?

 

[MadStan]

From a global perspective, inflation is a wonderful tool to lower your debt ledgers relative liability.

Great if you have wonderful assets.
Terrible if you have cash.

And if it brings about a crash, then...

Terrible if you've got assets.
Great of you've got cash.

Stagflation is the likely result and has been on the cards plain as day since Mid-2019. In which case:

Terrible if you've got assets.
Terrible if you've got cash