Global Depression 2022 - Time to do the Breadline Boogaloo!

[Meat Target]

 

[Socrates]

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[Meat Target]

The graph of my Roth and 401k earnings looks like extremely dangerous ski slope.

My aging parents are not gonna be able to retire at this rate.

 

[Ruin]

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The dude who made this is a diaperfur.

 

[Meat Target]

Who is a bigger bearer of the Kiss of Death: Cramer, or Krugman?

 

[Kane Lives]

I think across the tech bubble we will see a lot lot more subcontracting like in the car industry (the people building a car dont work for the car company but for a generic slavemill who is 100% responsible for the workers and has a contract with car company) these guys get payed an order of magnitude less and the workers rights blabbering will never be a problem of the car company because the workers are not their employees. This works an order of magnitude better for software companies too, since you cant really outsource an entire factory nearly as easily as an office. Also, the "goods" can be shipped from Malaysia to the US 100% tax free and instantly. No sanctions on E-Mail attachments either.
Once again, im surprised they have not done this at a larger scale already. But then again, there was little economic pressure put on these companies and this is extra work, so maybe they just didnt feel a need to.

Blizzard did this with that crappy warcraft remaster. That game died because of soyboy (mis)-management but the outsourcing of art-assets afaik worked just fine from a technical perspective and was probably a lot cheaper than hiring a bunch of cal-arts 3D artists yourself. Malaysia is a lot cheaper than almost any place in the west.

https://en.wikipedia.org/wiki/Lemon_Sky_Studios

https://www.lemonskystudios.com/projects/warcraft-3-reforged/

I would not be surprised if future software companies are just a permanent skeleton crew of genuinely competent workers and a lot of subcontractors that live in cheap cost-of-living countries (instead of fucking downtown LA or some insanity).

The B-Grade bugmen currently working for these companies that are not worth keeping around will move back in with their parents
or become part of the ever increasing Live-out-of-a-Van/car population. These folks will still work, often times full-time.
Just not in the "upper middle class" jobs that are required to live in many of the bigger cities today.
Not your normal "homeless meth addict" type person, but the the bourgeoisie of bums, who were priced out of paying rent without a (hard) drug or mental health problem.
Kinda like the guy at the end of this clip. (8:00 and onwards)

(this is also very funny because they show a mass eviction to build student homes so commie teens can preach about the suffering of the homeless. Leftism in a Nutshell)

"The hiveless bugman becomes a snailman and travels with his house or reverts back into soyboy/proto-bugman/NEET state."
- Bananadana's Biology of Bugmen and Soycological Guidelines. 2022 "New Normal" Version.


"Cole’s team has tried to persuade residents not to burn furniture or wooden pallets to keep warm, for worry they will set their homes on fire, but many feel they have no choice."
"The foundation saw a 74% increase in inquiries on last year in the first three months of 2022."
Holy smokes. Thank god summer is soon i guess. Next Winter will be absolute carnage.
"A small sacrifice". They said.
"That Ikea shite is ugly anyways 'ol chap." You tell yourself as you set your empty table on fire. One way to own nothing i guess.
At what point do these people get that "happiness" that was supposed to come into play here ?

I can attest to this personally, being the beneficiary of one of these "off-shoring" exercise.

To put into perspective, the average IT salary here is approximately RM 4,000. (Median is higher, the average is depressed by the sheer number of entry-level busywork that employs people at like RM2-3k each). That works out to about USD 1k.

Oh, don't get me wrong, RM 4k is actually quite enough to live fairly comfortably here, given that living costs are appropriately low as well. (How long this will last, depends on how much the government can continue to subsidize basic necessities but that's another topic). But for the corpos who employ us, the cost savings is simply immense.

 

[Kramer on the phone]

Yep. We saw a sneak peek of that with the recent TerraLuna shitcoin fiasco. For some reason these mongoloids had emptied their entire life's savings into a "stable coin pair" that also somehow promises 20% y/y returns (so yes, we're talking about that level of financial retardation). When the obvious Madoff scheme imploded in on itself, these fuckers were left with nothing. And since they're a product of the "bad times make weak men" gestalt we all live in, they all immediately started necking themselves.
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If (when?) we get to full-on depression levels, shit's going to get dark.

i mean, its not like the 1920s/1930s people thrived during the bad times. a great human being talked about all the people dying of despair when the great depression happened.

 

[Nopenopenope]

It’s interesting that the UK has prepaid meters. I don’t think such a thing exists in the US. Prepaid anything smells exploitive and regressive to me (i.e. parking lots).

The only people on prepaid meters in the UK are the ones who can't be trusted to pay bills on time.

 

[Maurice Caine]

NOOOOOO
NOT MY TENDIES
REEEEEEEEEEEEEEEEEEEEEEE

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AHAHAHAHAHA YOU DIDN'T COME TO BRAZIL SO BRAZIL CAME TO YOU!!! WELCOME MY BROTHERS!

 

[K-Hole]

This is another very interesting article by 'ourfiniteworld' -

https://ourfiniteworld.com/2022/05/17/is-the-debt-bubble-supporting-the-world-economy-in-danger-of-collapsing/

It's long and needs a deep read. I only skimmed it tonight, but will savour it later.

I just plucked a couple of paragraphs out of it at random -

The economy is a self-organizing system that behaves strangely when there is not enough inexpensive energy of the right types available to the system. Wars tend to start. Layers of government may disappear. Strange lockdowns may occur, such as the current restrictions in China.

---

The situation we are facing today is much more severe than in 2008. The debt bubble is much larger. The shortage of energy products has spread beyond oil to coal and natural gas, as well. The idea of raising interest rates today is very much like going into the Great Depression and deciding to raise interest rates because bankers don’t feel like they are getting an adequate share of the goods and services produced by the economy. If there really aren’t enough goods and services for everyone, giving lenders a larger share of the total supply cannot work out well.

---

---


I'm very ignorant of these things. I just put this out there more as 'food for thought' rather than 'bait'. Food for debate, perhaps.

In the final paragraph she talks about the consequences of Quantitative Tightening (QT) -

What we should be most concerned about is a very rapidly shrinking economic system that cannot accommodate very many people. It seems that such a situation might occur if the debt bubble is popped and too many supply lines are broken. There may be a time lag between when interest rates are raised and when the adverse impacts on the economy are seen. This is a reason why central bankers should be very cautious about the increases in interest rates they make as well as QT. The situation may turn out much worse than planned!

---

Again, I'm out of my depth. Maybe someone who knows what they're talking about might find it interesting, and might care to explain it better to us dumb fucks.

Link: https://ourfiniteworld.com/2022/05/...ng-the-world-economy-in-danger-of-collapsing/

 

[Blobby's Murder Knife]

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Still buying month for month. Staying the course.

I do feel bad for you as a wurstnigger. Investing is so gay and restricted and taxed im Deutschland. Nearly as bad as me being an american't trying to establish a bank account there (my retarded country's fault).

 

[Cpl. Long Dong Silver]

That's exactly what it is. Recession hasn't been priced in, the floor is a long way down from here. The volatility is insane and personally I wouldn't touch anything but blue chips with a ten foot pole right now.

Should I move my two 401ks into bond funds or just ride this? Not planning to retire for two decades and I know no one here is giving financial advice.

 

[FAQnews Correspondent]

This is another very interesting article by 'ourfiniteworld' -

https://ourfiniteworld.com/2022/05/17/is-the-debt-bubble-supporting-the-world-economy-in-danger-of-collapsing/

It's long and needs a deep read. I only skimmed it tonight, but will savour it later.

I just plucked a couple of paragraphs out of it at random -

The economy is a self-organizing system that behaves strangely when there is not enough inexpensive energy of the right types available to the system. Wars tend to start. Layers of government may disappear. Strange lockdowns may occur, such as the current restrictions in China.

---

The situation we are facing today is much more severe than in 2008. The debt bubble is much larger. The shortage of energy products has spread beyond oil to coal and natural gas, as well. The idea of raising interest rates today is very much like going into the Great Depression and deciding to raise interest rates because bankers don’t feel like they are getting an adequate share of the goods and services produced by the economy. If there really aren’t enough goods and services for everyone, giving lenders a larger share of the total supply cannot work out well.

---

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I'm very ignorant of these things. I just put this out there more as 'food for thought' rather than 'bait'. Food for debate, perhaps.

In the final paragraph she talks about the consequences of Quantitative Tightening (QT) -

What we should be most concerned about is a very rapidly shrinking economic system that cannot accommodate very many people. It seems that such a situation might occur if the debt bubble is popped and too many supply lines are broken. There may be a time lag between when interest rates are raised and when the adverse impacts on the economy are seen. This is a reason why central bankers should be very cautious about the increases in interest rates they make as well as QT. The situation may turn out much worse than planned!

---

Again, I'm out of my depth. Maybe someone who knows what they're talking about might find it interesting, and might care to explain it better to us dumb fucks.

Link: https://ourfiniteworld.com/2022/05/...ng-the-world-economy-in-danger-of-collapsing/

You can't stop the economy and borrow against the future and expect to be able to do anything to undo it.

 

[Socrates]

Should I move my two 401ks into bond funds or just ride this? Not planning to retire for two decades and I know no one here is giving financial advice.

If you've already got a ball rolling don't fuck with it. Your 401k will be fine long term. The people who should be worried are the ones actively living off their retirement funds.

 

[Audit]

Good news everyone, each metric ton of wheat costs around $500 now, the usual price is closer to $200. 2008 and 2010 were the last times we saw grain prices like this. 2010 was caused by drought in Russia and the grain growing regions of central Asia. We've well surpassed both of those previous peaks. It's not looking good if you're a third world nation that can't spend 2.5x as much per lb of wheat. At least the cost of rice is pretty stable. We'll be seeing lots of new rice recipes springing up in the third world before this is over. Corn is following a similar pattern as wheat.

 

[Marissa Moira]

Costco hotdogs are still $1.50 I wouldn't panic until those are effected.

 

[Knight of the Rope]

Should I move my two 401ks into bond funds or just ride this? Not planning to retire for two decades and I know no one here is giving financial advice.

Honest financial advice? Do whatever you want. Two decades is a long-ass time, long enough that doing literally anything productive with your money will end up getting you a sizeable return. Be wary of growth stocks (at least before the dip), but other than that go nuts. You're probably gonna make it.

(You know, unless the entire world goes to absolute shit in the interim, in which case it's not going to matter and we're all NGMI.)

 

[Audit]

Honest financial advice? Do whatever you want. Two decades is a long-ass time, long enough that doing literally anything productive with your money will end up getting you a sizeable return. Be wary of growth stocks (at least before the dip), but other than that go nuts. You're probably gonna make it.

(You know, unless the entire world goes to absolute shit in the interim, in which case it's not going to matter and we're all NGMI.)

@Cpl. Long Dong Silver, Only thing I'd add to this is don't quit the day job. Make sure to get the matching 401k contributions. Even if the market is going down, your employer giving you 1.5x shares is worth buying into a shaky market with. The main way to fuck up in a crisis is to sell the farm over fear of the bottom. Hold steady and don't let fear drag you into terrible positions.

 

[Socrates]

Honest financial advice? Do whatever you want. Two decades is a long-ass time, long enough that doing literally anything productive with your money will end up getting you a sizeable return. Be wary of growth stocks (at least before the dip), but other than that go nuts. You're probably gonna make it.

(You know, unless the entire world goes to absolute shit in the interim, in which case it's not going to matter and we're all NGMI.)

lets just put it this way. If 401k accounts start to get zeroed out, the situation has gone so FUBAR that questions like "Do I have enough canned spam and boiled ditch water to survive this month?" and "Will those marauders that came through town last week and killed my neighbors come for me next time?" are going to take high priority over stuff like worrying about retirement.

 

[Polarity]

Should I move my two 401ks into bond funds or just ride this? Not planning to retire for two decades and I know no one here is giving financial advice.

Keep dollar cost averaging through the multi-year downturn (buy weekly or monthly) and two decades from now you're going to be absolutely set. Use a target date fund from Vanguard or Fidelity if you want it even easier.

The absolute best time to invest is obviously during downturns -- the tricky part is not losing your job and having enough cash to continue to invest. In 2001 and 2008 people thought it was the end of the world and doom and gloom was 100x worse than what we have now.

Right now this is nothing.