I’m curious what people’s thoughts are on this.
I’ve seen the most apocalyptic claims about near-future economic turmoil in North America, as well as people claiming that it’s _mostly_ just **fear mongering** (That we’ll live like it’s the great depression, but not any worse than that) Some claim that, at most, people will need to be more frugal)
Thoughts?
Bonus question: Given that Canada’s economy is practically an extention of the US’s (sans a few important caveats about regulation / tax / etc.) how will they do?
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>I think that the economic turmoil in North America will be worse than people are expecting. I believe that we will see a significant decrease in living standards, and that many people will struggle to make ends meet. As for Canada, I expect that their economy will suffer as well, though not to the same extent as the United States.
It’s funny how the Crypto hype and influx of YouTube investor channels started just a few years ago. I hopped on that train and bought high as fuck thinking by now I’ll be ballin’ out. I’m down nearly 80% in crypto and stocks. And all my option plays are to shit. Hang in there friends!
I think there are a lot of people who have never experienced any real hardship who spend their time catastrophizing and LARPing on social media because it is easier than admitting they have life skills and resilience of a subaverage toddler.
Everything will be fine.
What the fuck are you talking about???
Anyone being doom and gloom about the economy is either a fucking idiot or a shill trying to sell you some subscription/gold/silver/mlm/shitcoyne/etc.
Our low birth rates and limits on immigration will probably keep unemployment low enough to avoid the worst of it, however people will see a decline in quality of life and we may well see a stagnation similar to Japan. Of course if people stop seeing America as a land of opportunity (our political environment certainly isn’t helping with this) then we could lose even more of our technology edge and the wheels really could start to fall off.
Stock market isn’t the economy, I expect most investors that started in the last few years will never recover their losses but average people who don’t have variable mortgages will barely notice the economic problems coming up. Job market is extremely tight which will take the sting off of layoffs
Anyone care to explain the logic in how one jobs report that comes out in the morning is going to change anything Jerome Powell just said a day prior. This wishful thinking is just mind blowing to me that people are in straight denial about forcing the market to go green when it needs to be red in reality to help tackle inflation. Please stop buying into these false hopes it’s only going to cost you more.
Well…
I really can’t get over these low rates since 2008 with all the crazy spending. Seems to me we are about to pay the price for 2008. I could be wrong but this should suck big time. A lot of shit investment is about to blow up. Businesses that aren’t suppose to exist.. higher rates will expose this sht imo. Not to mention the China mistake. Sht winds are a brewing and a big Ole sht storm is likely to fk everything up.
It may or may not happen all at once. Some tipping point could be reached, like a slow down in travel causing air bnb hosts to default on mortgages en masse, or other large scale credit defaults, causing a liquidity crisis.
Other things that could happen: zombie companies start collapsing under their debt load, driving unemployment up while simultaneously erasing billions in assets from balance sheets. Again causing a liquidity crisis, where banks don’t want to loan to each other.
Other exotic rate swap instruments used by hedge funds and equity groups to pick up pennies in front of steamrollers could go sideways.
The strong dollar could trigger collapses in other countries currencies and slow/stall global trade.
Another country could have a large part of their economy collapse, like real estate, causing ripples through global financial markets.
Another war could break out in areas that control key global resources, like oil.
There are tons of triggers that could start the dominoes falling.
Short the market in the near term, dca into stocks you want to own long term.
If it all collapses the money won’t matter anyway. If it doesn’t, you’ve made money and reduced your cost basis in the investments you wanted to own anyway.
2008 was awful.
Housing prices plummeted, businesses closed, millions of people were laid off. Hundred-year-old investment banks collapsed. There were economic protests in the streets and tent cities in public squares. CNBC said the US Bank ETF (XLF) could go to zero. Jim Cramer told people to sell everything because the worst was coming, just like he did last week.
Because of that, I know people who sold all their investments, bought gold and buried it in their yards. I know people who bought freeze-dried goods and powdered emergency food to prepare for financial Armageddon.
After 18 months, they all looked like idiots and the market was back up.
Jpow was pretty clear shits about to get buck wild beyond your wildest fears
I think we’ve seen the worst of the decline already. I don’t think it’s at the bottom just yet but I don’t think it’ll be some apocalyptic crash. However I’m an idiot and have little knowledge on the world economy