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Forum » Are you guys worried about the economy?
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Thread: Are you guys worried about the economy?

post 1697309073 02-02-2024, 04:53 AM
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Are you guys worried about the economy?

Honestly, I'm not.


The thing is, I grew up poor, and if i end up poor again.


Ill just feel young.
post 1697309963 02-02-2024, 05:31 AM
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No, I always hope it tanks so I can buy up assets on the cheap
post 1697310123 02-02-2024, 05:39 AM
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I'm more worried about what might happen as the economy continues to get worse. I'm fine, but a lot of people aren't. That leads to more crime, more mental illness and more things like kids going hungry and desperate people. You're going to see bankruptcies and suicides skyrocket over the next few years.
post 1697310173 02-02-2024, 05:43 AM
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In Iowa sports betting is legal, our neighbor to the west outlawed sports betting. So to subvert the laws on every gameday people drive across the state line to the first county road exit and sit on the on and off ramps to make bets. Typically there is never anyone exiting there because its a gravel road that leads to a couple houses/farmland yet during sports season the on and off ramps are a steady stream of traffic.

Between that level of desperation and not being able to go into a gas station without having to wait for people to do their lottery crap I would say people are in bad shape.
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post 1697310293 02-02-2024, 05:48 AM
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Economy in Australia is already ****d. $100k is now 60k. Thanks cun*s.
P
post 1697311073 02-02-2024, 06:16 AM
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I was till I saw this post by our great leader.
Then I knew all the layoffs were fake news

post 1697312063 02-02-2024, 06:56 AM
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Yes. But life is non stop natural cycles anyway, regardless of central banks creating booms and busts on purpose.

I think people need to be woken up, life is hard work. We have so much welfare, crime, laziness. Unfortunately a lot of deserving people will also suffer in the process.

I am most concerned about North America basically turning into Brazil, crime and poverty everywhere.

I try to stay optimistic that there is always a way to improve, at the very least yourself. I almost agree with Klaus that there does need to be a great reset. Where I differ is that I think the reset needs to rid itself of Authoritarian overreaching governments and communities need to have power again.

Hardship at the very least shines a light on the necessities of life, and many people seem to be lost in the dark these days.

I think it's well understood its only a matter of when the central banking fiat currency scam comes crashing down, so it'd be wise to prepare accordingly. Maybe it is 100 more years, but things aren't going to get better using a usury based fake money system powered by corrupt governing bodies.
post 1697312273 02-02-2024, 07:02 AM
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Originally Posted By cavillac⏩
In Iowa sports betting is legal, our neighbor to the west outlawed sports betting. So to subvert the laws on every gameday people drive across the state line to the first county road exit and sit on the on and off ramps to make bets. Typically there is never anyone exiting there because its a gravel road that leads to a couple houses/farmland yet during sports season the on and off ramps are a steady stream of traffic.

Between that level of desperation and not being able to go into a gas station without having to wait for people to do their lottery crap I would say people are in bad shape.
Seems the dumb people have a lot of money to burn still.
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post 1697312353 02-02-2024, 07:06 AM
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Originally Posted By QuickShotSteve⏩
economy is always a little hesitant during an election year. I think it will remain flatter than people think, not the crash some are hyping up.
At this point, I think a crash is the preferred option because it allows a quick reset of markets.

What's happening now is a long slow decline, which will slowly cause everything to begin breaking. I don't see it as necessarily a bad thing, but it's a very long period of pain and a lot of people are going to be miserable once it's finished.
post 1697319253 02-02-2024, 10:40 AM
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No.

Things will get slightly more expensive but thats really about it.

Housing and commercial properties are going to take a hit though.
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post 1697320043 02-02-2024, 11:03 AM
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Yes, I have most of my money in liquid cash, some in hard assets like silver, a lot in non-perishable consumables and then a good batch in GME since they'll go up in the event of bank failures.
post 1697320093 02-02-2024, 11:04 AM
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Have you been outside lately? Everyone looks stressed out.

Inflation is sky high, traffic is insane cuz apparently nobody works anymore, homeless population has increased x100, everyone smoking pot or is on drugs, people driving aggressively etc

I don't even like getting out tbh
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post 1697320153 02-02-2024, 11:06 AM
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Yes.

Unless you have some super in-demand skillset, right now it one of the worst times ever to be looking for a solid job.

Economy is terrible no matter what fake numbers they are making for Sleep Joe.
post 1697321013 02-02-2024, 11:30 AM
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I'm curious why everyone is worried about the economy? I am, but I'm increasingly wondering why.

Is it because of what we are being told, or are you guys genuinely seeing signs of a terrible economy in your personal and professional lives?

I know that prices are massively up on 1-2 years ago, but unemployment doesn't seem too extreme, and people seem to be getting by. A lot of huge companies are also printing cash (e.g. Meta yesterday).

So is the economy really in bad shape, or is the media just trying to tell us it is? I am curious.
post 1697321163 02-02-2024, 11:34 AM
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I have an all out push in my personal life to clear any non-related housing debt in the next 3 months. Over the next two years I have a realistic plan to to clear 100% of my housing debt. I have a very low debt to income ration but it needs to be ZERO debt for what I feel is to come. So yeah..Im nervous about the economy.

If the pandemic taught us anything its that, even in the face of a global crisis, there will be no help for you. They will still kick you out of your house and repo your cars. If you have the idea things will be "frozen" during a long economic downturn, I have some bad news for you.
post 1697321313 02-02-2024, 11:38 AM
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Originally Posted By NestBrah⏩
I'm curious why everyone is worried about the economy? I am, but I'm increasingly wondering why.

Is it because of what we are being told, or are you guys genuinely seeing signs of a terrible economy in your personal and professional lives?

I know that prices are massively up on 1-2 years ago, but unemployment doesn't seem too extreme, and people seem to be getting by. A lot of huge companies are also printing cash (e.g. Meta yesterday).

So is the economy really in bad shape, or is the media just trying to tell us it is? I am curious.
What gets me is wages are the same and inflation is sky high (everything costs a premium now) yet everyone seems rich now like you see in Miami. Makes no sense. Is everyone just living off credit? How is this sustainable?
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post 1697321343 02-02-2024, 11:39 AM
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Originally Posted By NestBrah⏩
I'm curious why everyone is worried about the economy? I am, but I'm increasingly wondering why.

Is it because of what we are being told, or are you guys genuinely seeing signs of a terrible economy in your personal and professional lives?

I know that prices are massively up on 1-2 years ago, but unemployment doesn't seem too extreme, and people seem to be getting by. A lot of huge companies are also printing cash (e.g. Meta yesterday).

So is the economy really in bad shape, or is the media just trying to tell us it is? I am curious.
Literally mass layoffs every single day in multiple sectors, insane COL.

And the government gas lights us with these fake jobs reports trying to say the economy is "booming!"

It's the media that's telling us everything is amazing, what are you talking about..
post 1697321403 02-02-2024, 11:40 AM
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I put my faith in God. Truly.

I have a storage of food. Own property I can hunt on. Dozens of 2.5-5 gallons of drinking water. I also live in a rural area, where people tend to be are more independent. THe people in the city will have it the hardest. There will be violence not seen since the 90s.
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post 1697321533 02-02-2024, 11:42 AM
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things peaked in the 90's


its been downhill ever since


mostly thx to social media worst thing to ever happen to society (ded fkn srs)
Send me money for my kids or I will neg you
post 1697321563 02-02-2024, 11:42 AM
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Originally Posted By eod8989⏩
What gets me is wages are the same and inflation is sky high (everything costs a premium now) yet everyone seems rich now like you see in Miami. Makes no sense. Is everyone just living off credit? How is this sustainable?
Exactly... restaurants and bars are filled everywhere I go. Flights are packed with holidaymakers. I can't explain it... somehow everything is going on as normal despite everything being 30-50% more expensive?
post 1697321593 02-02-2024, 11:43 AM
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Originally Posted By 6gorillion⏩
Literally mass layoffs every single day in multiple sectors, insane COL.

And the government gas lights us with these fake jobs reports trying to say the economy is "booming!"

It's the media that's telling us everything is amazing, what are you talking about..
Well, it's only recently the media's started telling us everything is going to be fine. The past two years were filled with endless recession talk. Mass layoffs but unemployment is not particularly high?
post 1697321783 02-02-2024, 11:47 AM
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Originally Posted By NestBrah⏩
Exactly... restaurants and bars are filled everywhere I go. Flights are packed with holidaymakers. I can't explain it... somehow everything is going on as normal despite everything being 30-50% more expensive?
This

Nobody works either all these places are packed during work week hours. It ain't just boomers either that want to go out for lunch. Every place is packed 24/7 now. Lines and lines everywhere.
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post 1697321883 02-02-2024, 11:49 AM
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No. I'm pretty confident of my ability to navigate anything short of a literal "doomsday" guns and ammo scenario in which case my portfolio won't matter anyway.

I do think there's a low but real chance of significant civil unrest in the near future.
post 1697322173 02-02-2024, 11:55 AM
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Originally Posted By eod8989⏩
What gets me is wages are the same and inflation is sky high (everything costs a premium now) yet everyone seems rich now like you see in Miami. Makes no sense. Is everyone just living off credit? How is this sustainable?
Just before the Great Depression, there was massive spending and inflation. The “boom bust” cycle is Government interference —> Boom —> Bad investment’s and overspending, based on government created (artificial) markers —> Bust (liquidation). Left wing Media does help either. They don’t want anyone to panic, and they don’t want people to know how bad the democrats are, so they tell us the economy is doing awesome.

So a lot of people are spending. This is bad during heavy inflation. Credit card and general debt is way up. We are entering the bust cycle. This is when things really get bad. The worst of it might come under the next president, so left wing media will say this was all the fault of the new president.
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post 1697322453 02-02-2024, 12:01 PM
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Originally Posted By cavillac⏩
In Iowa sports betting is legal, our neighbor to the west outlawed sports betting. So to subvert the laws on every gameday people drive across the state line to the first county road exit and sit on the on and off ramps to make bets. Typically there is never anyone exiting there because its a gravel road that leads to a couple houses/farmland yet during sports season the on and off ramps are a steady stream of traffic.

Between that level of desperation and not being able to go into a gas station without having to wait for people to do their lottery crap I would say people are in bad shape.
That's almost as sad as Ameristar and Harrah's number of handicapped parking spots so people can easily park up front to cash those disability checks into the casino.
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post 1697322733 02-02-2024, 12:06 PM
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Originally Posted By Kraken⏩
Just before the Great Depression, there was massive spending and inflation. The “boom bust” cycle is Government interference —> Boom —> Bad investment’s and overspending, based on government created (artificial) markers —> Bust (liquidation). Left wing Media does help either. They don’t want anyone to panic, and they don’t want people to know how bad the democrats are, so they tell us the economy is doing awesome.

So a lot of people are spending. This is bad during heavy inflation. Credit card and general debt is way up. We are entering the bust cycle. This is when things really get bad. The worst of it might come under the next president, so left wing media will say this was all the fault of the new president.
With inflation this high idk how people have money to buy anything let alone be out all day spending

I will go to target or wal mart and there will be 500 people inside. Plus like half of the population just buys whatever new truck suv or Mercedes they want now. You'd have to make 100k + to spend like this.

Average job pays like 55k that's barely enough for rent, car and food
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post 1697322803 02-02-2024, 12:09 PM
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I'm very close to retirement and in my time I've seen worse. Given the major economic hit from COVID the economy is recovering very well. I was pretty sure we would have a more robust recession than we've had. Future's bright and I'm wearing shades.
post 1697322883 02-02-2024, 12:10 PM
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#28
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I think any forthcoming struggles are going to mainly be regional. If I was in a populated blue state with overinflated housing and commercial property I'd be worried about it.

I'm in a red state that is one of the fast growing populations in the US, with a bunch of new economic development announcements and non-inflated property, so here we won't feel a thing other than the inflation we are already seeing. I work in development and we are still rocking and rolling here.

My thought, I don't have a crystal ball.
post 1697323183 02-02-2024, 12:17 PM
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Never fear! Whenever everything points to a healthy economy misc is always here to point out that it just means it's a sign of an impending crash! Love the IQ of this place. There actually used to be really smart people on this forum but it's clearly spiraled beyond saving now.
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post 1697323423 02-02-2024, 12:22 PM
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#30
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Originally Posted By Retoaded⏩
My thought, I don't have a crystal ball.
I went to buy a crystal ball,but the company went out of business
Back with my Fam
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