Global Economy, recession, depression, or...

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Global Economy, recession, depression, or...

Post by admin » Sat May 23, 2020 3:41 pm

So, as much lipstick and interest rate cuts you try put on this pig, the Global economy is not coming back in a couple months or even a couple years. The World economy was already very, very fragile.

This interview with Roubini on why a depression is coming this decade is worth a read:

https://nymag.com/intelligencer/amp/202 ... ubini.html

The most dangerous thing someone could do right now, is imagine the World to come, as the World use to be. That is trying to derive a 'will be' from a 'was'; which is just another cousin of trying to derive an 'is' from an 'ought'.
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Re: Global Economy, recession, depression, or...

Post by admin » Sat May 23, 2020 4:20 pm

looks like Chile is definitely going to be smacked hard, but will be the least beaten in latin america.

https://www.df.cl/noticias/economia-y-p ... 32454.html
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Re: Global Economy, recession, depression, or...

Post by nikotromus » Sat May 23, 2020 8:17 pm

Live on a pension or Social Security? All of those funds will go bankrupt. Most of us will lose our jobs. Those of us who are lucky enough to keep them will be forced to accept a massive pay cut. If you have a mortgage, you will lose your home and be forced into the streets. If your house is paid off, expect your property taxes to increase by 500%. Destitute family members will take up residence in your home as you struggle to find the means to feed them all. Meat at the grocery stores will increase in price by at least 10 fold. Dirty dish rags and corn cobs will permanently replace toilet paper. Dogs and cats will no longer be a luxury to have as pets. They will end up on the dinner table as you lie to your children telling them that Fluffy ran away from home. It’s going to be that bad.

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Re: Global Economy, recession, depression, or...

Post by snobrd4life » Mon May 25, 2020 10:15 am

nikotromus wrote:
Sat May 23, 2020 8:17 pm
Live on a pension or Social Security? All of those funds will go bankrupt. Most of us will lose our jobs. Those of us who are lucky enough to keep them will be forced to accept a massive pay cut. If you have a mortgage, you will lose your home and be forced into the streets. If your house is paid off, expect your property taxes to increase by 500%. Destitute family members will take up residence in your home as you struggle to find the means to feed them all. Meat at the grocery stores will increase in price by at least 10 fold. Dirty dish rags and corn cobs will permanently replace toilet paper. Dogs and cats will no longer be a luxury to have as pets. They will end up on the dinner table as you lie to your children telling them that Fluffy ran away from home. It’s going to be that bad.
You forgot to mention that sun is going to gobble up the Earth. We’re all totally screwed for realz!!!
ese ruido blanco es una alarma en mis oídos
Not in Chile for now, but still lurking.

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Re: Global Economy, recession, depression, or...

Post by nikotromus » Mon May 25, 2020 10:43 am

Aren't we bumping up against another grand solar minimum soon? Dangit I forgot that. Yea - throw the sun in too along with the toilet paper.

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Re: Global Economy, recession, depression, or...

Post by admin » Mon May 25, 2020 5:06 pm

so, 97% drop in international traffic last month to Chile compared to last year.

https://www.biobiochile.cl/noticias/eco ... -945.shtml
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Re: Global Economy, recession, depression, or...

Post by tiagoabner » Mon May 25, 2020 6:13 pm

admin wrote:
Mon May 25, 2020 5:06 pm
so, 97% drop in international traffic last month to Chile compared to last year.

https://www.biobiochile.cl/noticias/eco ... -945.shtml
98.7% when accounting only for international flights, or 91.2% when accounting only for internal flights. Which makes sense: with the borders closed, there will be very little demand for inbound flights. Travel within the country for tourism should be almost null, but there's still a fair amount of business travel going on.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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Re: Global Economy, recession, depression, or...

Post by admin » Mon May 25, 2020 6:36 pm

I am overall betting on deflation in a World awash in unemployed with no money.
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Re: Global Economy, recession, depression, or...

Post by nikotromus » Mon May 25, 2020 6:53 pm

Likely. For a while.

Perhaps later in the second wave of this event there will be a USD currency collapse that takes the rest of the fiat currencies with it? Quickly to be replaced with a digital only (for our safety) one world currency. Maybe this is the crisis catalyst that will pull it off.

Regardless, I will push all of my chips into the center of the table that the rich become much, much richer, and the poor and middle class become much, much poorer. Just look at the businesses that have been permitted by government to stay open during this event. It's clear in my mind who will be allowed to win and who will be forced to lose.

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Re: Global Economy, recession, depression, or...

Post by Zenth » Mon May 25, 2020 9:28 pm

The rich will always get richer because they don't have to spend all their money on necessities. That's the only advantage that's needed.

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Re: Global Economy, recession, depression, or...

Post by PXYC » Mon May 25, 2020 11:17 pm

Zenth wrote:
Mon May 25, 2020 9:28 pm
The rich will always get richer because they don't have to spend all their money on necessities. That's the only advantage that's needed.
The excess savings have nowhere to go - you don't need to be rich, you just need to keep a steady income to get richer than what you were before pandemic.

Let's see what happpens with this excess savings in a few months, the wheels will move into some direction, just don't know if heavier taxation or into printing money plus inflation.

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Re: Global Economy, recession, depression, or...

Post by nikotromus » Tue May 26, 2020 5:16 pm

"Global Economy, recession, depression, or..." or - Melt up!

This is so fake and so bizarre and so weird. It's pretty much like taking a trip to the grocery store in our new world.

Record job loss, half of all businesses closed, commercial real estate falling off the cliff, record spending deficits, local, city and state budgets blown to smitherines. Wow things are really falling apart, so I guess the stock market is in the tank huh? No, it's now bumping up against all time highs. DOW 30,000 I guess. Heck why not 50,000. Just add some more digits, who cares.

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