Global Depression 2022 - Time to do the Breadline Boogaloo!

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.
I would be fascinated to see how they could.
If there's a way, they will find it, and even if it totally screws you over, you will love it, because not loving it means you're a Nazi.

But seriously, I keep hearing talk they'll just call another Bretton Woods and sort shit out there, sometimes linked to imposing fedcoin/similar shit. They'll weasel their way out of this crisis and preserve their power no matter what. Consequences are for little people.
 
If there's a way, they will find it, and even if it totally screws you over, you will love it, because not loving it means you're a Nazi.

But seriously, I keep hearing talk they'll just call another Bretton Woods and sort shit out there, sometimes linked to imposing fedcoin/similar shit. They'll weasel their way out of this crisis and preserve their power no matter what. Consequences are for little people.
And it would be fascinating to see.
 
And it would be fascinating to see.
The worst part about it would/will be how it will be justified and how many people will go along with it like it's totally natural and how things have always worked. Just like we saw in 2020 and 2021 where they successfully sold 50-60% of the population that lockdowns, mask mandates, and blatantly rushed "vaccines" were always how responding to a pandemic worked. Expect plenty of people to praise whatever solution the bankers come up with no matter how hard it screws them over based on some stupid justification like "we don't need cash anyway, digital currency is the future otherwise we'll have hyperinflation and lose our bank accounts and investments and social security, trust the experts!"
 
Cash can't be easily traced and can't be magically erased at the push of a button.
Not exactly sure what you mean by ‘erase’ considering cash can be burned and also officially recalled. It sounds like it’s less about physical cash and more about replacing USD with some kind of NFT system that makes every Fedcoin you make be a unique, trackable entity.
 
With no cash, only electronic debit-types of currency, if you do something TPTB don't like? They can freeze your account so that your cards don't work. See: China

If this system gets put in place people will still find ways to do things under the radar, bartering and whatnot. Cash is better though.
We’re talking about how the US is going to ‘bail out’ the corporations in a hyperinflationary scenario by eliminating cash, not how they’re going to use a cashless system to control people.

Please try to stay on topic.
 
Please try to stay on topic.
That would go against my "Yelling stuff out a car window in passing" style of internet posting.

US government, should it decide to bail out banks and/or corporations, will do it the same way they always have. Cashless makes it even easier for them, since all they have to do is change a few numbers on paper (or electronically) instead of actually firing up the ol' money printer.
 
Oh boy...
Screenshot_20220509-163135-060.png
 
With no cash, only electronic debit-types of currency, if you do something TPTB don't like? They can freeze your account so that your cards don't work. See: China
And then they did it in Canada and now they're doing it globally if they decide you're tied to anything Russian. Your money is safer in buttfuckistan than the west now. They aren't even saving this as a last resort nuclear option, they're already using it at will
 
And then they did it in Canada and now they're doing it globally if they decide you're tied to anything Russian. Your money is safer in buttfuckistan than the west now. They aren't even saving this as a last resort nuclear option, they're already using it at will
Its a guarantee that once this system is in place, you're gonna see a re-emergence of a barter based economy like you would see in older civilizations and prison. Also, you can bet they're going to use this cashless system to eliminate things they don't like and could oppose their totalitarian soy state. Such as people being able to grow their own food.
 
Its a guarantee that once this system is in place, you're gonna see a re-emergence of a barter based economy like you would see in older civilizations and prison. Also, you can bet they're going to use this cashless system to eliminate things they don't like and could oppose their totalitarian soy state. Such as people being able to grow their own food.
We already have a barter economy based on baby food. And there are shortages.
 
If we're lucky, the next recession will wipe out a lot of the shit-tier startup software development SaaS jobs, which will absolutely murder a big chunk of the middle-class who purchased a massively inflated house in the last four years
This is what always worried me, I see so many people making massive 6 figure salaries. Sure there’s the web developers, but also designers, marketing types, even videographers, often just working for some smallish company selling widgets on Instagram. If that economy goes poof, what are they going to do to cover a 10K a month mortgage? Sure you have two people making 12k a month now so that’s sounds great, but what if you need to take a bullshit job to make ends meet? It’s used to be you could probably cover most of it just doing some warehouse labor, sure you wouldn’t have any discretionary spending, but you would keep the roof over your head. But now the wages from those jobs wouldn’t even scratch a dent in to your mortgage. The economics wouldn’t even make sense. Everyone is going to be hustling towards the fewer and fewer globohomo companies that can still afford those salaries. Worse is when they go bankrupt there is no place for them to rent, probably lots of tent cities in the future.
 
The looming tech crash is going to be absolutely brutal.

The Fed's free money gravy train has juiced corporate malinvestment and resulted in all these tech companies that literally operate at a loss. As the funding dries up--which has already begun--these companies are going to close up shop.

This will have a few effects:

- Tech bros are going to suddenly face real life. No, it's not normal to make six figures to build widgets on some useless money-losing website.
- Those tech workers are going to flood the market looking for new jobs, making competition fierce for the remaining ones, and driving down wages at those places.
- As mentioned, the mortgages these folks took on during good times are going to be totally impossible to pay. But it gets better; since rates are soaring, real estate is going to crash and they won't be able to sell and downsize because they'll be upside down. They'll be trapped in houses they can't afford and won't be able to make ends meet. They won't be able to pay their property tax bills. Crime and homelessness is going to skyrocket well past its current levels, a problem that will only perpetuate itself.

This disaster is going to play out beside and in-concert with the broader downturn. The pendulum is swinging back hard and it's going to make 2008 look like a sunday picnic.

As a tech worker, I'm already preparing for the inevitable. I don't work at a tech company but I fully anticipate losing my job as competition floods the market. Fortunately for me I didn't overextend on my liabilities, and I have other skills that I can leverage. I've got a buddy that does light carpentry and handyman work and I'll go work with him. I wouldn't be surprised if I end up having to take 2-3 years off of working in IT.

Unfortunately for a lot of the tech bros, they have NO SKILLS. They have left college and entered the workplace with an extremely narrow skillset and have had every need catered to them. They are totally unable to care for themselves. Few among them have changed the oil in a car, replaced a faucet, COOKED A MEAL, or any other of the things that flyover America can do to be self-sufficient. These guys are in for a rude awakening.
 
Unfortunately for a lot of the tech bros, they have NO SKILLS.

Pardon the optimism, but this is also why a full-ride tech bro can’t necessarily compete in boring ordinary tech jobs even on a discount. These large highly leveraged tech corps have deeply specific job titles that don’t really make sense in a smaller organization, plus generally job titles that just don’t make any sense due to the organisation not really knowing what it’s doing when it’s growing so fast. This is not a recipe for developing highly sought after workers.

Even today, there’s no shortage of bad tech workers. The tech job market is deeply bifurcated to the small pool of high skill workers with absurd employer demand and everyone else fighting for the scraps. Even a reasonably large injection of good workers parachuting from failing tech companies won’t change the field much. There can be a short term shock as there’s only so many high-skill people the remaining companies can ingest and onboard at a time, but the fundamentals will catch up soon enough. And it’s not something that leads to layoffs of perfectly good, already onboarded workers.

The apocalypse scenario for tech work is if the tech sector disintegrates entirely and the society stops using computerized stuff everywhere, possibly due to the society collapsing. Hey, it’s possible. But VC money unravelling is not The Event.
 
The Fed's free money gravy train has juiced corporate malinvestment and resulted in all these tech companies that literally operate at a loss. As the funding dries up--which has already begun--these companies are going to close up shop.
I'm old enough to remember the first time this occurred back with the dot-com bubble bursting. It was a fucking catastrophe and large amounts of companies just died overnight, huge amounts of websites that were popular just folded because they could not maintain themselves. Sites like SomethingAwful, Newgrounds or even 4chan had serious problems combating their own growth, ad revenue paid absolutely nothing and media heavy sites like 4chan and Newgrounds danced the razor wire, if I recall properly 4chan died twice before it finally secured enough money to accommodate bandwidth and hardware costs through some sort of donation drive and users donating hardware. KF has various problems with funding as is, a global downturn may end up killing this site.
 
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