Jim Rickards: Liquidity Crisis + Recession + Unrest - Will 2023 Be Worse Than 2008
- Thread starter livingston
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livingston
20×102mm Vulcan
He does a good job of explaining the situation we are in ...
Catskillkid
.450/400 Nitro Ex
So stock up on beans, bullets, and Band-Aids then?
I don't see how it's possible that this will end up better than 2008.
There's exponentially more fiat currency in circulation, people have gotten used to not working, the government is in much more debt, there is more world chaos and a global decoupling occurring, there are supply chain disruptions, real estate prices are over valued etc...
There's exponentially more fiat currency in circulation, people have gotten used to not working, the government is in much more debt, there is more world chaos and a global decoupling occurring, there are supply chain disruptions, real estate prices are over valued etc...
livingston
20×102mm Vulcan
You forgot about the wars they want us to get into. .. We are flat broke now.
livingston
20×102mm Vulcan
We have been as much as possible ... Afraid it will not be enough folks. Biden and the rest of the communists want to not only disarm all of us... They want to destroy our economic system. .. per the new world order .
meketrefe
.450/400 Nitro Ex
did we ever recover from 2008?
How do we measure recovery and for who?
Inequality keeps growing for the las 30 years and it seems that everything is designed to destroy the middle working class that at the same time is the main pillar of healthy capitalism.
This bubble based macro economic system cannot be sustained.
How do we measure recovery and for who?
Inequality keeps growing for the las 30 years and it seems that everything is designed to destroy the middle working class that at the same time is the main pillar of healthy capitalism.
This bubble based macro economic system cannot be sustained.
spat
.950 JDJ
The wars may be the last hail Mary play to get out of the mess.
Wars have a way of solving all sorts of economic problems. They can remove excess cash *and* stimulate the economy simultaneously.
spat
.950 JDJ
Why do people keep focusing on inequality.
Who cares about inequality ?
Would you rather live in a neighborhood where everyone is equally poor, or would you like to be the only millionaire in the neighborhood of billionaires ?
Is it better that everyone takes the bus, or that you have the smallest yacht and half as many supercars as your neighbors ?
I don't think they're mutually exclusive.
My take on it is that there is going to be a massive social unrest as people who have played by the rules their whole lives and tried to do the right thing watch their world vaporize in front of them. Their 401k, pension, retirement plans, nest egg, visions of leaving something for their kids or their kids having better lives than themselves all vanish in front of their eyes. When parents are trying to each work a job or 2 to support their family and kids and every month it gets noticably harder to stay above water. When they can't even afford to live anymore and they've tried to do things right their whole lives.
When all these middle class people get evaporated there's going to be hell to pay.
This was a great speech and it was 8 years ago. I think it's far more applicable today than it was then.
We're getting to the point where we are going to be in real life hunger games where all these Uber elite wealthy effeminate pop culture and politicians have consolidated the power and everyone else is relegated to impoverished outposts just trying to survive while the overlords just try to prevent an uprising.
It's like the honest to God actual plot of 1984. We're going to have an all powerful autocratic government in charge of everything to protect themselves from us. They will use war and "emergencies" to keep everyone distracted so they can maintain power
pjzwtl
.308 Win
For those of you old enough to remember Carter. Lines for gas and only on your day are what’s probably coming. Mmmmm also I foresee cube steaks and onions hot dogs with the cheap Mac n cheese… good times of course Velveeta and spam are no longer cheap so sorry suckers
been there, done that.
I know it's crypto but man did FTX get taken behind the woodshed yesterday
We had cube steak for dinner when I was a child. That shit should be outlawed as unfit for human consumption.
livingston
20×102mm Vulcan
We raised our own beef..as a child... . . So much better than store bought including cube steaks. One cannot overcook a cube steak or it will will be like shoe leather. Needs to be pink inside. when done cooking.
Jmac00
.475 A&M Magnum
well, the CPI was lower than expected, wall street is absolutely giddy today. The Dow is up, almost 900 points ( 850 or so )
Nasdaq is almost to 600 and the S&P is up 148
my portfolio is up over 8.5%, so today, for once in a long time, Im a happy camper.
Now if the market would continue this increase, by the end of the year I might break even
Nasdaq is almost to 600 and the S&P is up 148
my portfolio is up over 8.5%, so today, for once in a long time, Im a happy camper.
Now if the market would continue this increase, by the end of the year I might break even