Global Depression 2022 - Time to do the Breadline Boogaloo!

[Socrates]

And I would like to point out that Bitcoin's price is almost completely irrelevant to its utility. Folks sending money to their families in commie shitholes like Venezuala don't care if a BTC is $50 or $50,000.

What? Lol I can almost certainly guarantee you that this hypothetical starving Venezuelan family would care very much if the $50 worth of btc they were sent turned into $0.50 overnight. A stable price is extremely important for a currency, regardless of how many decimal points you can split it up into.

Speculating on its future price is separate from utilizing its capabilities for cross-border money transfers or dodging currency debasement.

Did you read the question I asked? I wasn't addressing people who have a legitimate interest in the actual use cases of crypto. I was specifically addressing people who seem to think that crypto is somehow a good investment that will be safe from the effects of rising interest rates in the short term.

 

[Hippopatumus]

lol calm down.

So do you not understand the various Bitcoin bull cases, or do you just simply disagree with them and are looking for an argument?

 

[Kujo Jotaro]

What? Lol I can almost certainly guarantee you that this hypothetical starving Venezuelan family would care very much if the $50 worth of btc they were sent turned into $0.50 overnight. A stable price is extremely important for a currency, regardless of how many decimal points you can split it up into.

Did you read the question I asked? I wasn't addressing people who have a legitimate interest in the actual use cases of crypto. I was specifically addressing people who seem to think that crypto is somehow a good investment that will be safe from the effects of rising interest rates in the short term.

Do they actually use it as a currency, or are they just using it as means to transfer currency without access to other methods?

 

[Sneed's Feed And Seed]

HODL!!!!

Good god, they're multiplying.

 

[JosephStalin]

Walked through downtown Monterey, CA this morning. Didn't need to go far to see many empty storefronts/places being renovated for future rental. Monterey is a big tourist destination, also has military bases. No industry to speak of in the city. Hadn't walked through downtown in a while. My guess - recession within 6-12 months max.

 

[Justa Grata Honoria]

Walked through downtown Monterey, CA this morning. Didn't need to go far to see many empty storefronts/places being renovated for future rental. Monterey is a big tourist destination, also has military bases. No industry to speak of in the city. Hadn't walked through downtown in a while. My guess - recession within 6-12 months max.

Recession is generous what you have is the equivalent of 3rd century roman crisis when the roman living standard dropped really deep and security situation got bad which led to bureaucratization and even higher taxes and oppression and unrest.

 

[Zbk3VmLfujjzjxBd43tL]

Recession is generous what you have is the equivalent of 3rd century roman crisis when the roman living standard dropped really deep and security situation got bad which led to bureaucratization and even higher taxes and oppression and unrest.

I'll gladly pay more taxes if it means someone re-enacts the executions of some of those 3rd century Roman Emperors on our own elite.

 

[HTTP Error 404]

I'll gladly pay more taxes if it means someone re-enacts the executions of some of those 3rd century Roman Emperors on our own elite.

Blood Eagle livestreamed on pay per view, with $20 super chats to cause them to get creative with the salt and lemon juice.

 

[z0mb0]

Blood Eagle livestreamed on pay per view, with $20 super chats to cause them to get creative with the salt and lemon juice.

Brazen Bull BBQ.

 

[Justa Grata Honoria]

https://www.zerohedge.com/energy/new-yorkers-lash-out-conedison-over-soaring-electricity-bills

Lmao i love bugmen what you mean i have to pay triple the electricity price for my political decisions like shutting down nuclear power plants , which is more hilarious when the politicians go ham on the electric companies who basically say they are just the distributor which they are .

 

[Non-breath oblige]

 

[Sneed's Feed And Seed]

View attachment 3012261
Brazen Bull BBQ.

Well, we're the land of "milk and honey", right?

Scaphism: The Ancient Persian Torture Method That Killed Victims With Milk And Honey

Of all the horrible ways you could've died in ancient times, this one is one of the worst. Learn about the torture method that killed victims with milk and honey.

culturacolectiva.com

 

[WickyWickyWoW]

I wonder if the sudden mess with ukraine would accelerate the economic crisis that doomerists have been talking about in this thread and others like it. The sanctions placed on russia as a response have caused the prices of various commodities to go up, hell in a weeks time the price of gasoline then will make now look like paradise, other things like energy and various raw materials could be a problem. Combine that with wagies losing their will to work and the inflation (which may just turn into full fledged stagflation) was starting to be felt after the 2020 stimulus needed to stop the economy from completely dying after being turned off and the infrastructure bill had enough time for its after effects to hit the market.

With how the Ukrainian invasion is going I dont see any hope for looser sanctions, infact likely more and more sanctions until russia is under an embargo-lite. A major shock to the economy like that would shave time off of any economic crash predictions made at the start of February, with the perfect storm brewing if the doomerists are correct and any attempt to avert it or the effects of the storm hitting in the short term are either not practical, not effective, or not an option for one reason or another, better study up on your weimar republic history kids.

About the natural gas and european energy market, I find it hilarious how many european countries (except france) have forced themselves to be reliant on russian energy exports, green energy being crap and nuclear being the best optioned shunned. I thought nordstream2 would have been a bad idea because a diplomatic scuffle could end in putin cutting the gas to twist europe's arm, not the other way around.

 

[Kujo Jotaro]

2022 just might be the year a global gold standard is ushered in. Watch in horror as more and more nations start to resource horde as the concept of currency dissolves in the collective conscience to a meaningless phrase with no ties to reality.

Spoiler

Mmmmmmmmmmh Gold..........

 

[Zbk3VmLfujjzjxBd43tL]

I wonder if the sudden mess with ukraine would accelerate the economic crisis that doomerists have been talking about in this thread and others like it. The sanctions placed on russia as a response have caused the prices of various commodities to go up, hell in a weeks time the price of gasoline then will make now look like paradise, other things like energy and various raw materials could be a problem. Combine that with wagies losing their will to work and the inflation (which may just turn into full fledged stagflation) was starting to be felt after the 2020 stimulus needed to stop the economy from completely dying after being turned off and the infrastructure bill had enough time for its after effects to hit the market.

It sure will. Fucking with gas prices is a one-way ticket to economic mess, for so many reasons (just look at the 1970s). It's going to be BAD these next few months.

With how the Ukrainian invasion is going I dont see any hope for looser sanctions, infact likely more and more sanctions until russia is under an embargo-lite. A major shock to the economy like that would shave time off of any economic crash predictions made at the start of February, with the perfect storm brewing if the doomerists are correct and any attempt to avert it or the effects of the storm hitting in the short term are either not practical, not effective, or not an option for one reason or another, better study up on your weimar republic history kids.

Ukraine being emphasized is pretty much a distraction the elite are using from both ending their Chinese virus restrictions and from the economic mess it all caused. But make no mistake, it's going to be hard to pin everything on Putin unless they go for the literal nuclear option i.e. starting a war with Russia to cover up the collapsing economy. I don't know if they'd go that far, because it's such an ultimate gamble, even for the elite. Even if they survive, when they emerge from their bunker they can't just resume their place as rulers of society.

It makes me wonder if Putin considered this. He doesn't seem worried about Western sanctions, so it seems like he's counting on the sanctions compounding with existing economic issues and tanking the Western economies and forcing them to the table. Either way, everyone loses, it's just a matter of how much at this point (and negotiating with Russia means Putin wins big even if his economy is fucked for years because war is expensive as hell).

 

[Kane Lives]

It sure will. Fucking with gas prices is a one-way ticket to economic mess, for so many reasons (just look at the 1970s). It's going to be BAD these next few months.

Ukraine being emphasized is pretty much a distraction the elite are using from both ending their Chinese virus restrictions and from the economic mess it all caused. But make no mistake, it's going to be hard to pin everything on Putin unless they go for the literal nuclear option i.e. starting a war with Russia to cover up the collapsing economy. I don't know if they'd go that far, because it's such an ultimate gamble, even for the elite. Even if they survive, when they emerge from their bunker they can't just resume their place as rulers of society.

It makes me wonder if Putin considered this. He doesn't seem worried about Western sanctions, so it seems like he's counting on the sanctions compounding with existing economic issues and tanking the Western economies and forcing them to the table. Either way, everyone loses, it's just a matter of how much at this point (and negotiating with Russia means Putin wins big even if his economy is fucked for years because war is expensive as hell).

If Putin's plan was to crash this gay global economy with no survivors, I think he's doing a pretty good job at it.

Sucks for everyone else though.

 

[Mooger Meng]

It sure will. Fucking with gas prices is a one-way ticket to economic mess, for so many reasons (just look at the 1970s). It's going to be BAD these next few months.

Ukraine being emphasized is pretty much a distraction the elite are using from both ending their Chinese virus restrictions and from the economic mess it all caused. But make no mistake, it's going to be hard to pin everything on Putin unless they go for the literal nuclear option i.e. starting a war with Russia to cover up the collapsing economy. I don't know if they'd go that far, because it's such an ultimate gamble, even for the elite. Even if they survive, when they emerge from their bunker they can't just resume their place as rulers of society.

It makes me wonder if Putin considered this. He doesn't seem worried about Western sanctions, so it seems like he's counting on the sanctions compounding with existing economic issues and tanking the Western economies and forcing them to the table. Either way, everyone loses, it's just a matter of how much at this point (and negotiating with Russia means Putin wins big even if his economy is fucked for years because war is expensive as hell).

If Putin's plan was to crash this gay global economy with no survivors, I think he's doing a pretty good job at it.

Sucks for everyone else though.

I would not be surprised if he's pulling a full Crazy Ivan. Everyone jokes about how Russians are culturally accustomed to suffering, but if Ivan is braced for a crash and his rivals/enemies aren't, there's a good chance he'll run the proverbial car into a ditch and cause a massive pile-up because he knows he can take it.
Maybe I'm just paranoid. Man I hope it's just because I'm paranoid.

 

[Livecorpse]

If Putin's plan was to crash this gay global economy with no survivors, I think he's doing a pretty good job at it.

Sucks for everyone else though.

Doesn't Russia have super low national debt, a huge trade surplus, and a huge gold reserve? What are the chances he's trying to crash the dollar and change over to a gold-backed ruble?

 

[Ruin]

Doesn't Russia have super low national debt, a huge trade surplus, and a huge gold reserve? What are the chances he's trying to crash the dollar and change over to a gold-backed ruble?

Yes, their debt is less than 5% of GDP and they have huge stockpiles of gold, silver, oil, and natural gas. All the brainlets saying Russia's economy is on the brink of collapse are overdosing on copium. They are much better prepared to weather a recession than western democracies.

 

[Hippopatumus]

Yes, their debt is less than 5% of GDP and they have huge stockpiles of gold, silver, oil, and natural gas. All the brainlets saying Russia's economy is on the brink of collapse are overdosing on copium. They are much better prepared to weather a recession than western democracies.

Their interest rate is 20% too, versus our 0.25%.

Debasing the dollar only goes so far.