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#Post#: 1532--------------------------------------------------
Re: No Recession In 2022—But Watch Out In 2023
By: Phil Potts Date: November 6, 2021, 3:27 am
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[quote author=moniker link=topic=60.msg1529#msg1529
date=1636164394]
Federal Deficits don't matter because the money is owed to the
Fed and the 2 dozen people who have most of the money. The Fed
just printed up the money, and the others don't need it.
[/quote]
[attach=1]
HTML https://youtu.be/Ghx0sq_gXK4
[attachment deleted by admin]
#Post#: 1541--------------------------------------------------
Re: Economy Errata
By: K-Dog Date: November 6, 2021, 11:07 pm
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I don't loath the message. Exploitation and Oppression is the
core issue and that has not changed.
Yanis Varoufakis describes high tech internet companies as a new
form of feudal lord in another vid. His argument is convincing.
Monopoly control of media, market, price, and choice all at
once. Just like a motherfucker with a sword. That is how I put
it.
Yanis and Slavoj Žižek together. A good catch. They balance
each other.
#Post#: 1549--------------------------------------------------
Millennials own nothing because the economy screwed us over for
25 years — but older generations still try and blame it
By: RE Date: November 7, 2021, 1:42 pm
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HTML https://www.businessinsider.com/millennials-own-nothing-cant-build-wealth-economy-screwed-us-2021-11
Millennials own nothing because the economy screwed us over for
25 years — but older generations still try and blame it on our
work ethic
Hard to own anything when the top 10% own it already and won't
sell it for what you can afford to pay.
At the fundamental level, Property Ownership is what is most
wrong with the system. This is what divides the Haves from the
Have Nots, the Aristocrats and Royals from the Serfs and
Commoners.
All property was taken out of the Commons by theft backed up by
superior Force. The Crown of England simply declared all of
North America to be theirs, then proceeded to wipe out anyone
living there who would not declare allegiance to them. We still
have a Pledge of Allegiance recited by children here every day.
My solution to this has been to own as little as possible. My
rule is try to own only what you can carry with you. You don't
"build wealth" this way, but is very liberating. Finding ways
to survive can be tricky though.
RE
#Post#: 1557--------------------------------------------------
Americans have never been in so much debt
By: RE Date: November 9, 2021, 10:07 pm
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Americans have never been in so much debt
HTML https://www.cnn.com/2021/11/09/economy/fed-household-debt-inflation/index.html
Well, now we know how the so-called "recovery" is being
financed. ::)
Magically, Somehow despite not taking the plentiful shit jobs
now open, Demand for more Goodies from China is strong! So
strong the whole supply chain is overwhelmed! The NYT had the
gall in an editorial to blame consumers for the supply chain
havoc. Those damn consumers just want to buy too much stuff!
lol.
From the POV of J6P Consumer, why this sudden debt-fueled buying
frenzy. One reason of course is has spent the last 2 years
mostly unable to go out and shop till he drops. Fewer trips to
the restaurants, movies, vacations, concerts etc. Now finally
somewhat let off the leash (at least if Vaxxed), he goes on a
spending frenzy. Who cares if there is enough money in the
bank? For everything you ever wanted to buy but couldn't
afford, there's VISA!
Why do banks keep issuing the plastic out to people already deep
in debt? Because they have to do something with all the free
money dished out by Da Fed the last 2 years also. They get the
money at 1% or less, loan it back out at 29%. Are they worried
the consumers won't pay it back? No because Da Goobermint will
bail them out when they go tits up.
For J6P, he's not worried about paying the CC debt off either.
It's one last Binge before the hammer falls. Party like it's
2021!
HTML https://www.youtube.com/watch?v=rblt2EtFfC4
RE
#Post#: 1566--------------------------------------------------
China's Evergrande Group officially defaults
By: RE Date: November 10, 2021, 8:39 pm
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China's Evergrande Group officially defaults
HTML https://www.dailysabah.com/business/economy/chinas-evergrande-group-officially-defaults
This should move things along a bit on the Chinese "long game"
Economic Mosh Pit.
Downgrades across the board on the Chinese RE Bond Market.
Should be an interesting Chinese New Year. :o
[img
width=1000]
HTML https://hips.hearstapps.com/hmg-prod.s3.amazonaws.com/images/chinese-new-year-14-1485531010.jpg[/img]
RE
#Post#: 1577--------------------------------------------------
Re: Economy Errata
By: Eddie Date: November 11, 2021, 10:48 am
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Evergrande made 3 bond payments yesterday.
The yield curve is trying to invert. We might get some kind of
correction, but I’m not seeing a big crash.....unless something
changes fast.
#Post#: 1579--------------------------------------------------
Cargo with nowhere to go: 60 Minutes investigates the supply cha
in crisis
By: RE Date: November 11, 2021, 1:48 pm
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I haven't watched this yet.
Cargo with nowhere to go: 60 Minutes investigates the supply
chain crisis
HTML https://www.cbsnews.com/news/60-minutes-supply-chain-crisis-2021-11-11/
RE
#Post#: 1586--------------------------------------------------
Evergrand Dodges another Bullet
By: RE Date: November 11, 2021, 4:19 pm
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[quote author=Eddie link=topic=60.msg1577#msg1577
date=1636649283]
Evergrande made 3 bond payments yesterday.
The yield curve is trying to invert. We might get some kind of
correction, but I’m not seeing a big crash.....unless something
changes fast.
[/quote]
Our opinions differ here. I don't think something needs to
change all that much or all that fast...the Chinese bond market
in RE is crumbling all across the board. Liquidity has dried
up. The Chinese Goobermint will have to step in to stop the
bleeding, but so far have not done so. Evergrand's founder has
been propping that one up with his own stash of cash, likely
under compulsion by the CCP. That can't last too long, he'll be
pauperized in a matter of months.
I don't think the Chinese can extend and pretend this one out
too long. They got too many other problems. Like keeping the
lights on.
RE
China Evergrande again averts default but debt woes mount
HTML https://www.dailysabah.com/business/economy/china-evergrande-again-averts-default-but-debt-woes-mount
#Post#: 1624--------------------------------------------------
Is Europe headed toward another debt crisis?
By: RE Date: November 13, 2021, 10:28 am
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What? The ECB won't keep handing out Free Money forever?
Is Europe headed toward another debt crisis?
HTML https://thehill.com/opinion/finance/580976-is-europe-headed-toward-another-debt-crisis?rl=1
RE
#Post#: 1642--------------------------------------------------
Evergrande: BK or Not BK? That is the question?
By: RE Date: November 14, 2021, 7:29 am
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Over the last week we have had conflicting reports that EG
had/had not missed it's bond payments. Why the confusion?
Because EG hasn't admitted it, nor has it declared BK. Now
however at least one creditor who has not been paid will file,
which SHOULD trigger BK proceedings. I say should because WTF
knows with the FUBAR legal system these days?
I think EVERYBODY KNOWS EG is BK, but the usual E & P game is
being played. Everybody also figures the Chinese goobermint
will step in at the last possible minute to stop the bleeding.
The CCP is loathe to do this, because EG is just the tip of the
iceberg in their property market, currently valued at $55
TRILLION! Even just a 10% correction there is more than the
FSoA infrastructure bill Uncle Joe is trying to sell!
The Little Chinese Boy has his finger in the EG hole in the
dyke, but it's leaking. When the water comes rushing through,
watch out.
Global financial crash: China Evergrande heading for 'bankruptcy
in days'
HTML https://www.indexmundi.com/blog/index.php/2013/02/19/food-exports-and-imports-worldwide/
RE
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