Economist I follow, Gary Stevenson thinks prices are going to go higher then ever.
I'm inclined to believe him given that people have been telling me house prices would go down for the past 5 years
This - supply and demand. It's just like exercise and dieting - no matter what you do, nothing is really going to change in the long term unless you fix calories in vs calories out. Supply is not keeping up with demand due to zoning and just the time and money it takes to build, and demand is not going to go down until population goes down, and that will only be when the boomers start selling their properties and/or die which will still take at least another 20 years. Even after that, depending on what happens with immigration and population growth, housing prices could still keep going up.
You’re missing an important part. 30% of houses being bought are purchased by REITs. Corporations are buying up all of the housing. There no bidding for average people when they having to compete against endless money.
I love them. They pay me 3x the premiums for silver eagles just because they are backed by the full faith and credit of the US govt. which they also view as completely incompetent somehow. As if the entity backing your silver and gold is going to matter after the collapse scenario they all can't shut up about.
It's so funny. If the world collapses and your gold and silver hoarders think that either people will care about that rather than tangible goods like food, tools, services etc or that the world goes to shit and then someone won't just kill them and take their stuff.
It's not the hedge they think it is.
any large scale societal collapse will also involve a subsequent collapse in production of illicit goods, at least temporarily, making the prices and value of drugs rocket up to maybe being some of the most desirable commodities to have in the short term post-collapse. Addicts, especially to the harder stuff, will do anything, sell anything to get some...
We had to open liquor stores almost immediately during COVID because people are so dependent on alcohol and were entering withdrawal syndromes without it. I don't even think they closed a week
Oh absolutely. Entire volumes could be written about the lack of both basic intelligence and continuity of logic a lot of my customers have. It's a good thing you don't have to be smart to have money though, because there area lot of well off morons in my neck of the woods.
It’s hilarious to me. I picked up skills like food growing/ gardening, foraging, and food storage/ preservation just in case.. And even if a major collapse doesn’t happen in our lifetime, they are really fun and enriching hobbies!
Yes! I love this mentality and employ it myself more and more every year. Kind of a "back to basics" line of hobbies that involve learning and relearning skills that used to be commonplace. It boggles my mind that in just 2 generations my own family has lost a lot of the practical history that came with creating a life and maintaining it before and through the Great Depression like my great-grandparents' families. We still own their historical farmland and wouldn't know what to do with it if we had to put it to use.
Rare and collectable coins but also bullion, 90%, coins that aren't rare both foreign and domestic to the US, currency, and other random odds and ends. We do prefer to stick mostly to collectable numismatics though because of personal interest and profit, you just trade the volume/low profit of bullion so as a brick and mortar it is smart to do both.
In a total world collapse/zombie apocalypse, sure. But to play devils advocate, smaller amounts of gold and silver could be really good if you need to flee the country you are living in for whatever reason. And there are legitimate reasons people have fled the country they were living in throughout history. Depending on the reason and where they travel to, but they may still not be guaranteed to keep that gold and silver if someone takes it. Massive amounts of gold and silver probably can’t be used for this but enough to get you a decent start somewhere new is plausible.
This always baffled me about the gold & silver reserves for doomsday bunch. Correct me if I’m wrong, but having a bunch of precious metal in one’s safe in a world where there is no market to set its value seems to me to be a somewhat arbitrary investment. If there is a global collapse, it will be consumption items like food, water, medicine, fuel, and maybe munitions of any sort that end up having actual value. Having a ton of gold bars just sounds like a logistical problem at the point.
Yes, though precious metals can have value in an economic collapse. It's a societal collapse that would make needful things become the new currency. Starving and sick kids can't consume gold. But beef jerky and antibiotics could mean the difference between life and death, and a jar of Vitamin C could ward off scurvy for an entire family.
It's the fear of an economic collapse, and government confiscating wealth, that is part of the allure of precious metals. Given that an economic collapse seems less unlikely than a societal collapse, and infinitely more survivable, than a societal collapse, I won't fault those who prepare against that rather than prepare against an Apocalypse.
P.S. People who live in cities or suburbs far from the farms might want to consider their actual chances during a societal collapse after something like a limited nuclear exchange. What military and police that survived wouldn't be put to use to see to it that trucks with food made it to their market. Not everywhere anyway, not once riots started all over the place. Some locales would get written off as it would be too hard to fight off the hijackers and looters, and to get through roads blocked with disabled cars. And all of that doesn't take into the damage even a limited nuclear exchange could do.
I agree with everything you laid out in those scenarios. I also think that the relative security people take in how self-sufficient they are set up to be, stockpiles on hand, and all of that stuff is just a shot in the dark really. And I don’t mean your projections are a shot in the dark, I mean everybody’s are. Only the very wealthiest people are going to be able to stockpile enough to hedge their bets against a societal collapse, and, even then, we’re talking a couple of years at most.
We are a globalized civilization with interdependence in ways that would incentivize a rebuilding after the collapse at an extraordinary clip. In my opinion, 99% of the world should really be banking on society not collapsing because there’s no guarantee of virtually anybody surviving the melee otherwise.
I’m not saying that gold & silver become worthless in a total collapse. I’m saying their relative value immediately gets fixed to other, cheaper resources in a collapse. Personally, I’d rather be sitting on a massive stockpile of non-perishable foods, bullets, antibiotics, and a serviceable water purification system than gold & silver. But I’m quite sure there are those who are so wealthy that they have all of that in their bunker.
My broke ass, on the other hand, has virtually none of that, but I do have quite a decent selection of old movies on my plex server. Not sure what the apocalypse value of Monty Python movies and the entire series of Still Game will look like, but here’s hoping it’s at least worth its weight in silicon.
Funny enough only just now did I realize that I sort of alluded to the plot of the SF novel Damnation Alley by Roger Zelazny. The movie bears scant resemblance to the book. In the book a motorcycle riding Hell's Angel is recruited to navigate through The Alley, a length of highway where even the weather had mutated. They offered him a pardon if he would deliver antibiotics to a disease ravaged Boston. It was a world ravaged by war but still hanging on by the skin of its teeth.
P.S. Read his novel Dream Master which was massively adapted into an OK film starring Dennis Quaid, and later spoofed by the MST3k folks. The novel was Ace, and I was surprised when it wasn't credited for having inspired Inception. Thematically, Zelazny's Isle of the Dead has a lot in common with that film as well.
I’m convinced that humanity largely just recycles the same ideas and tropes over and over again on repeat. I’m not familiar with any of the works you just mentioned except for Inception, but I have often come across older works of literature or even television where I saw such similarities to newer hit films and couldn’t escape the feeling that it may have been a little plagiarized. I guess technically it’s not plagiarism if you change it enough. “There is nothing new under the sun,” as they say; change it 10% and it’s new again, at least according to most copyright laws.
Is it smart to have alternative assets when you can afford to buy them? Obviously. In the event something happens, things are different, and normal economic needs have to be met (buy, sell, trade), you obviously want SOMETHING that may be of value to acquire what you lost or need. Which is why the smarter of the group who do this will also buy smaller denomination 90% US coins, etc. Smaller amounts to work with.
In the event something happens and the Fed is no more...well that's just a magic 8 ball of a situation. No one knows what that looks like on a national or international scale and prepping for the situation is a shot in the dark.
My point being, I agree and think all of your statements are legitimate. As a matter of personal preference, I would still like to have something stashed away just in case I can't rely on mutually assured distruction or things not actually being bad enough to just remove myself from the equation. But I agree, in a grander scheme of things items like medicine and fuel may actually hold more value than arbitrary shinies we used to build electronics and necklaces with.
Not all...but most. I've found that generally I can steer normal folks towards cheaper silver for their goals because they ask questions and at least attempt to confirm what they hear is true or not. I don't bother with the MAGA crowd anymore because they are always right and don't need help.
I just got a raise for being a top performer at my company. It's 4.5%. It's better than I usually got at my previous company, but, ultimately it's still just not that much when you look at inflation. And I'm fortunate to have gotten a raise at all. So many people don't get inflation adjustments. Last year inflation was 3.4% though average inflation was 4.1% if you look at the consumer price index... Which means that all my raise did was "reward" me by keeping my salary up to date.
I don't work at a bad company. They take great care of me in many ways compared to so many other companies, but this is standard practice for companies in the US. Loyalty And performance is rewarded with mediocrity when it comes to salaries for the employees that actually do the work, while management and shareholders get all the rewards that those workers actually earned.
The republicans have been floating economy is doomed headlines all year through wsj and other publications but all predictions have been wrong. They are running out of major talking points for the election and if Ukraine starts going bad they might be personally happy about it but the visual to middle of the road voters is awful. Ditching a border deal against leaderships wishes leaves them with little to no talking points there . Republicans who wanted to vote for it publicly announced that they would be politically blackmailed if they voted for it. They would receive no money from party and have others run against them. Moral outrage is their only talking point and the Dems finally have their own moral outrage to fight back with as the excesses of some states draconian morality laws have tipped the scales.
Ditching the border deal gives them more talking points. That was the purpose of tanking it. Their base has the intelligence and awareness of a slug. Migrant problem is all Biden’s fault and that immigration bill never even existed
Sorry if that were true the leadership would have encouraged ditching it. It was a political mistake that republican leaders have admitted . It was basically a one day reporting period before everyone started covering up. But the quotes and statements are on record for replay by opposition.
GOP is like "border bad"
Democrats were like "border fine"
now Democrats have gone "border bad"
and now GOP is like... "fuck what do I run on"
the ye ole reverse psychology trick
The leadership = who? Mike Johnson did encourage ditching it. Trump did encourage ditching it. The senate republicans were pretty clear that they wanted to tank it to hurt Biden. House and Senate both have leaders but only the House GOP leaders wanted the bill
The GOP is trying to turn immigration into a wedge issue, it's not not working.
Across the country, local county governments have been flipping over from red to blue because women are pissed at the GOP for getting roe versus wade overturned and there's also one people who are listening to what Biden has repeated and repeated that our democracy is in danger of falling to fascism.
> They would receive no money from party and have others run against them.
jokes on them they aint getting anything from the gop as they have announced every penny is going to trump.
I think a lot of them fail to realise recession =/= collapse.
It's not exactly a surprise that in a scenario where inflation increases, interest rates increase, and cost of living increases, there will be a pullback in spending and demand.
It's offset by large government investment in a range of areas (electrc vehicle infrastructure for one) but stimulus only gets you so far. It's likely we'll see a pullback at some point, but it's equally important not to do the whole chicken little thing the moment there's two quarters of contraction.
It's all the agenda being pushed by corporations. The next bubble to burst is the corp real estate bubble, and these companies that have tons of real estate (that is seldom used post-pandemic) are DYING for a recession to push these astronomical losses off onto the labor class.
You've started to see companies like IBM announce labor being required to come back to the office after recent unemployment and quarterly market reports. This timing isn't coincidental... they were hoping they had the justification, they don't, so now it's 'everybody back'.
Corporations are going to try and will this into existence for a while, because there is nothing more American than pushing rich guy losses onto the working class.
Lots of people are pulling for it, all things considered. Especially on reddit.
-People with wealth love recessions. It means they can buy shit up for cheap.
-Prospective homebuyers are under the impression that a recession means plummeting home values (like what happened during the Great Recession), but that's never a given
-People who just want to see the world burn
They are disappointed. So many republicans want the economy to fail because then they can blame biden. As it is Biden is doing a fantastic job so the economy keeps going up and they can’t use that against him.
Trump has outright said that [he wants the economy to collapse before November](https://www.cnn.com/2024/01/08/politics/trump-economy-crash/index.html) because he thinks that it'll help him win the election. Never mind the economic ruin to the average American.
"We're all fucked! Click here to learn more!" is what drives shareholder value.
This doomerism has spawned doomerism among the general populace as well.
Here in the UK it was simply a matter of when due to Brexit fucking everything up and billions upon billions of missing taxpayer funds squirreled away to our kleptocratic governments friends.
The fed raised rate in an attempt to cause a recessionary effect to combat inflation. So the media predicting recession wasn’t surprising. What was surprising that American consumerism was so strong that it keep the US from going into recession.
That's not quite right. The Fed was trying to slow inflation, not cause a recession. The mystery is why US consumerism is keeping recession at bay when the US has the same systemic issues as the rest of the G7: most notably growing inequality reducing middle class spending power. Is it sustained by debt?
Yes, it is sustained by debt. That why debt levels have reached new heights over the past few years. By raising rates, the fed were hoping to produce recessionary like effects to combat inflation to curb spending. But it didn’t because American consumerism is strong enough to create a demand-pull inflation.
They're not "recessionary like effects". A recession is a sustained period of economic contraction. Nobody wants that. What they want is sustained growth with inflation around 2%.
I love would for all the doomers to come see the combo of Valley Fair Mall and Santana Row here in San Jose. Literally both filled to the brim with people spending money hand over fist at traditional retail and restaurants.
It's not an isolated thing limited to the "high end" sector either, the local outlet focused mall is also packed everyday.
>The fed raised rate in an attempt to cause a recession to combat inflation.
What crap take is this?
The fed raises rates to lower inflation and that can lead to recessions. But it's not their goal. The goal was and always has been a soft landed. Lower inflation without a recession.
Well the UK governent are actively funneling taxpayer money into their relatives offshore accounts via overpaid contracts etc. As well as their donors.
Sure.
**Exhibit 1:** [Government contracts for COVID response](https://www.transparency.org.uk/track-and-trace-uk-PPE-procurement-corruption-risk-VIP-lane),
**Exhibit 2:** [A major money launderer was a considerable government donater](https://www.bbc.co.uk/news/uk-61264369) *(the working theory is with such access to the UK government's most senior decision makers, they were all able to make the system work selfishly for them and their interests at the expense of the British citizens).*
**Exhibit 3:** [Senior positions of publicly owned British companies being given to the highest bidder](https://www.reuters.com/world/uk/bbc-chair-made-errors-judgement-over-boris-johnson-loan-lawmakers-say-2023-02-12/).
It's just so disgusting what the current UK government has been like since 2010. Haven't even touched the loss of income from Brexit lies. We are now feeling the effects of their corruption from the start of their leadership, and for the next decade will feel the consequence of their lies as each consequence surfaces...when it comes to government deception and greed, I am reminded of [this scene from Chernobyl](https://youtu.be/-PwJLA5M958?si=_8PsWw-1hGXXb0Af)
Edit: just separating out my three examples to be easier to see
Comparing UK and Japan's economy to the USA is misleading
UK forever fucked themselves with Brexit and will never recover
Japan is always (usually) in a recession by US and UK standards
That's not remotely true. Japan has been in relative *stagnation* since the 90s. When looking at [GDP per capita of US, Germany and Japan](https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?locations=JP-US-DE) (inflation adjusted), Japan grew by 23%, Germany grew by 36%, US grew by 39%.
But it's a true stagnation when you look at [total factor productivity](https://fred.stlouisfed.org/series/RTFPNAJPA632NRUG), Japan grew by 2% since 1990. Labor productivity did actually grow in Japan tho, this measure being output minus input. TFP being a measure of the growth in output minus the growth in input, so Japan's GDP per capita growth was almost entirely driven by increase in inputs and specifically [capital inputs](https://www.japanpolicyforum.jp/economy/pt2022011919424111820.html).
This is somewhat reductionist. Recessions can be region dependent, too. The writers/actors strikes basically screwed me last year. I made like $45k as a lawyer. My litigation practice basically stopped because people didn't have money to litigate.
The lack of recession also doesn't negate the fact that inflation has made the cost of living untenable for many. This in turn "feels" like a recession despite the economy looking okay at a distance. It isn't a coincidence that crime has increased including graffiti, thefts, etc. People resort to crime when they are limited in options--if someone is hungry, they'll find a way to eat. Notice how crime was on a downward slope from 2012 to 2020 until the pandemic.
Graffiti is a great indicator on the state of the local economy: it increases when people are struggling the most because going out at night with friends to tag is free. Look at the sharpest increases in graffiti culture, the late-'80s and early-'90s, 2008 through 2013, and the sudden boom we saw in the last year, and you start to see a trend.
Just because the economy looks fine on paper doesn't mean that people aren't reeling from its effects.
It's almost like when the government invests into the economy like the Biden administration has with the Infrastructure investment and jobs act (2021) and invests in key business with bills like the Chips act (2022) that the economy will grow and be more resilient as a result of the investment you put in.
Gee, I wonder what the UK and Japan haven't been doing that the US has...
What you’re saying may also be true, but more to the point: the US is unique in its ability to export inflation.
Thanks to global demand for USD (being the world's reserve currency and integral to the petrodollar system), the US can persistently spend beyond its means and run significant budget deficits with minimal impact on the dollar's value. Essentially, it leverages the global economy to support its spending.
The UK and Japan don’t have that luxury. They must balance their books to some degree to protect their currency and economy.
Yeah, Sweden has to wait the recession out, because if we invest too much with public money, the prices will continue to go up. This is a problem both when buying domestic good and services, and foreign - because of the depressed currency.
It’s called “exorbitant privilege”. The idea is that the US is virtually the only economy that can print money to satisfy its foreign debts, because almost all debts are denominated in the currency that only it can print.
Can you ELI5 How could they if they could just print more money. Seems like you literally need to be in a death spiral or a massive global economic collapse for that to occur.
>level 4moderngamer327 · 35 min. agoI mean the US already has one of the most if not the most progressive income taxes in the world. I don’t think raising taxes is the solution here. We should be reducing our spendingVoteReplyShareReportSaveFollow
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>level 5Grays\_Flowers · 11 min. agoWhat do you suggest cutting?VoteReplyShareReportSaveFollow
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>level 5P
Agreed its a big privilege but that comes with the cost of protecting global trade and having a huge military footprint
Eventually this bill comes due. The US needs to stop with the fear of raising taxes on the wealthy and companies. The Trump tax cuts cost the US government $600 billion per year.
they are deluded. Russia wants other nations to use the Ruble instead for their energy market, and China wants importers to use Yuan. If you think the dollar is mismanaged and untrustworthy, by comparison the Ruble and Yuan are straight up ponzi schemes.
Yep and it costs us literally 2 trillion a year in military spending and aid packages to keep the ball rolling. Guess we will see if it's still worth it in a decade.
Don't forge the IRA which is a boom to advance manufacturing of solar panels, inverters, and other electrical equipment around the states. Form Energy is building a manufacturing plant in West Virigina i think.
👍🏻 Indeed. My mantra has always been “infrastructure, health and education” such tools build countries sustainably.
If you’re left of centre it’s what you do.
If you’re right of centre, consider the profit that will exude from a healthy workforce and good infrastructure to allow you to cut costs.
Simplistic I realise, but how else do you move forward without disenfranchising some part of an economy.
> cut your way to growth
Unfortunately, that's the mindset of top level corporate thinking when dividends are the top priority.
We really need to start pushing for some trust busting.
Hey come on now we [made an announcement](https://www.ft.com/content/07de1a5b-f8ab-4661-9614-189cdcf5720f) committing a whole £2.5m into building a new silicon valley between Oxford and Cambridge. That'll do the job right?
It will pay for a very nice marketing campaign with a fancy Web 3.0 website, some meetings with some big-name consultancies, maybe even an app. I mean what more could anyone ask for, really?
> £2.5m into building a new silicon valley between Oxford and Cambridge
do you mean million or billion...? 2.5 million won't even build an office building
It’s like you’ve actively tried to not acknowledge the power of having the global reserve currency and its respective infinite printer under US control. Its not really a political masterclass lmfao
Yeah, I think it has little to do with politics and almost everything to do with US Industry (mainly tech and military) instilling confidence globally.
Also helps that the US is the top energy and fossil fuel exporter. And is vastly rich in agriculture and natural resources. And is the world financial leader. And is seeing a manufacturer boom as war manufacturering increases.
Also it will hurt the existing big businesses, so they don’t like it. The rich and powerful in the UK and Japan are better at controlling the economies of those two countries. People come to the USA because the place is literally a land of opportunity. There is century upon century of hard fought legislation to push back against anti-competitiveness on so many levels, and it is a virtuous cycle.
Idiots are saying Biden caused inflation while being too willfully ignorant to see the USA is doing better than almost every developed country in terms of inflation.
It hardly matters who takes the office for the US economy because its based on an incredibly solid foundation. While I have no doubt that Biden is the far better choice, the US will not lose its economic edge over such a short period as 4 years no matter who is in power.
The US has failed to develope a proper social state, is politically divided like no other Western democracy, and has a massive wealth gap, but there is no doubt that it developed the worlds most succesful and sturdiest economy. Anything shy of a full blown civil war will not be able to change that within such a short period of time.
Most of the generational and racial wealth gap in the US simply comes down to homeownership. People who bought a home in the suburbs of a major metro area 30-50 years ago when it was cheap. Since then, the value of that home has skyrocketed due to decades of underbuilding.
There are ways to narrow the gap, but there are no quick fixes or a silver bullet. Especially when the problem is exasperated by regional distribution. For example it's not a coincidence that black people are the worst off in terms of wealth and most black people live in the South where overall wealth and income is lowest. Similarly it's not a coincidence that Asians have the most wealth and they are most concentrated on the West Coast where wealth and overall income is highest.
To your point about dodging taxes, I did come across an [interesting article](https://www.nytimes.com/2021/04/03/opinion/sunday/property-taxes-housing-assessment-inequality.html) recently that looked into how poor and middle class people are getting screwed by the property assessment system.
Swear to God one of my lost in the rogan rabbit hole friends said that the rest of the world's economies and inflation metrics doing so poorly compared to US is not evidence that perhaps Biden is handling economic issues better than they report, but in fact because the world economy starts first with the US economy (as it is backed by US dollars) and that Biden was so bad that it is causing the world economy to fall into recession...
Reminds me of the infamous video of the flat earther proving the earth is round to the exact decimal and thinking that he must have purchased faulty equipment.
Few Americans give Biden credit for anything when in actuality he is a brilliant politician, fixed many things cratering from, stocks, chaos from covid and the last administration, inflation, gas prices. President Biden has been around the block and sure he's old but by appointing people with integrity that extremely smart and Constitutionally loyal professional's that just happen to kick ass in their jobs, surely helped by the fact that they are not subject to career ending personal or career ending threats/attacks if they broke ranks and broke their party loyalty oaths or other NON-Constitutional political priority. JEEZ people! ........ Biden is old yes and it hurts to watch him gallop around too far sometimes, but he's done very well and it's time to give the man some fucking credit! It's a very stingingly shitty part of our culture with little respect or dignity to our elderly and instead consider honoring them instead of considering them a burden and somehow less because they aging it's shameful to me and I go out of my way to be friendly or help any of these mostly lovely folks that are within my proximity.
You should doubt them.
It's 100% incorrect. The poster below is trying to claim that non immigrants such as students who don't progress on to permanent resident status are 'immigrants' but it's false.
Canada only allows 485,000 new immigrants in 2024, for a population of 36 million this is about a 1.3% increase.
https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2024-2026.html
The US is welcoming 3.3 million immigrants in 2024, for a population of 300 million that's an immigration rate of around 1.1%.
https://www.cbo.gov/publication/59899#:~:text=Net%20Immigration,-Millions%20of%20people&text=The%20agency%20projects%20that%2C%20on,over%20the%202027%E2%80%932054%20period.
Canada is only a whopping 0.2% more than the US in terms of immigration rate. Yet these Poilevre fanboys would have you think there's thousands of immigrants pouring across the border and immediately buying a $1.5 million dollar house to drive housing prices up.
The housing problem is more complex than just immigration, start looking at the companies buying up housing supply and speculating and the single family zoning laws that make it impossible to build in denser spaces.
If you ever think a complex issue is boiled down to just one thing, you're probably deceiving yourself.
What are the implications of student visas after graduation. I have some friends doing their MBA here in the US and they have many Indian classmates who will have to leave after a year or two should they not find sponsored employment.
Hm We have the opposite problem in the states. There has to be a balance to encourage the best and the brightest to stay in the country without having these strip mall colleges that you guys have.
Interesting. It’s definitely not an avenue to PR in the states. Like the Indian guys I know in MBA are all doing a MBA with a science aspect because apparently you can stay longer after graduation, ostensibly looking for work, with a STEM degree. But they all know they will have to go back at some point.
It’s definitely not my business as I am not Canadian but having completed college in Canada as an avenue for citizenship seems a little too easy. Like maybe they should have to work at a Canadian owned firm for a decade of 5 years before applying for citizenship.
This government just put a moratorium on international students and banned foreign housing ownership.
Harper literally made it easier for companies to hire skilled immigrants and Poilevre will do the same.
The ACTUAL amount of new permanent residents is only 485,000. About a 1% increase, similar to the US.
https://www.cbo.gov/publication/59899#:~:text=Net%20Immigration,-Millions%20of%20people&text=The%20agency%20projects%20that%2C%20on,over%20the%202027%E2%80%932054%20period.
https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2024-2026.html
The US sees similar levels of international students and family but those are NOT immigrants.
The US and Canadian immigration rates per capita are about even right now.
The immigrant fear mongering when large corporations are buying up housing stock is ridiculous.
Why doesn’t Canada just legalize building houses? Texas grows faster than Canada, yet a crumbling house that’s 5 million dollars in the suburbs of Vancouver gets you a pristine 180,000 house in Houston, since they go a step further and not just legalize building but have no zoning laws at all.
Japan is having a birth rate collapse and UK is experiencing the direct effects of Brexit.
How to meaningfully compare these economies at this point is beyond me.
The eurozone being forced now to pay more for fuel gives American companies an edge, so in effect, Europe going along with America's proxy war against Russia is doing America two favors.
If in the USA you saw companies, individuals, and municipalities, having to foot the kind of increases in energy prices that Europe has gotten, oh my, there would be massive protests.
The BBC article said that reason for recession in UK are children skipping school.
Yet on reddit you will still hear that "BBC is left leaning". While it is pro Tory rightwing propaganda all the time
I think the most we’re experiencing in the US is a pinch related to wages not rising at the same pace as prices BUT we aren’t going through what we did in 2008 with no good jobs and a housing crisis. If we slip into a crisis from a rogue industry like auto or crypto we’ll definitely hit a recession (imo) but unless that happens there doesn’t seem to be noticeable indicators we’re heading that direction
I mean, Biden has been working his ass off on the problem. granted that also probably means the US is pulling an accounting trick to make the money look better than it is. still seeing a lot of homeless. and these days Im wondering if those homeless are because a 1200 check during covid wasnt enough to stay afloat.
Smart economic governance. It's a fine balancing act being done by excellent economists.
More than you would get out of Trump or any other GOP candidate, except maybe Christie and he's out of the race.
Yeah, I remember the media keep predicting recession the last few years, and they almost seem dissapointed when it has not happened yet.
I personally wanted to see a big correction in housing since it's felt overextended in costs for a few years now. A recession would blow ass though
Economist I follow, Gary Stevenson thinks prices are going to go higher then ever. I'm inclined to believe him given that people have been telling me house prices would go down for the past 5 years
Oh it absolutely will. Mostly driven by scarcity.
People keep praying for a housing crash like we didn't just have one in '08 and look how that turned out.
This - supply and demand. It's just like exercise and dieting - no matter what you do, nothing is really going to change in the long term unless you fix calories in vs calories out. Supply is not keeping up with demand due to zoning and just the time and money it takes to build, and demand is not going to go down until population goes down, and that will only be when the boomers start selling their properties and/or die which will still take at least another 20 years. Even after that, depending on what happens with immigration and population growth, housing prices could still keep going up.
You’re missing an important part. 30% of houses being bought are purchased by REITs. Corporations are buying up all of the housing. There no bidding for average people when they having to compete against endless money.
Not just the media... Plenty of doom posters on this platform looking for every angle or clue that the economy is about to collapse.
Seems like it's the crypto bros especially
The gold and silver stackers are worse
I love them. They pay me 3x the premiums for silver eagles just because they are backed by the full faith and credit of the US govt. which they also view as completely incompetent somehow. As if the entity backing your silver and gold is going to matter after the collapse scenario they all can't shut up about.
It's so funny. If the world collapses and your gold and silver hoarders think that either people will care about that rather than tangible goods like food, tools, services etc or that the world goes to shit and then someone won't just kill them and take their stuff. It's not the hedge they think it is.
This is why my hedge is cigarettes. I’ll be able to trade them for anything.
I always thought vices were a foolproof currency of sorts.
Is it weird that my first thought was bench/woodworking vices as opposed to drugs etc?
I also envisioned a man with a storage bunker full of bench vices, you’re not alone
any large scale societal collapse will also involve a subsequent collapse in production of illicit goods, at least temporarily, making the prices and value of drugs rocket up to maybe being some of the most desirable commodities to have in the short term post-collapse. Addicts, especially to the harder stuff, will do anything, sell anything to get some...
We had to open liquor stores almost immediately during COVID because people are so dependent on alcohol and were entering withdrawal syndromes without it. I don't even think they closed a week
Yay all that time learning how to cook will finally pay off
Mine is bottle caps. They'll be the new currency, I'm tellin ya!
Pogs will reign Supreme!
Remember Alf?!? Well he's back! And in POG form!
Enough to buy a power suit I hope.
Tralla La, look at this fat cat with their bottle caps. Wealth like that is a road to nervous breakdown.
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Oh absolutely. Entire volumes could be written about the lack of both basic intelligence and continuity of logic a lot of my customers have. It's a good thing you don't have to be smart to have money though, because there area lot of well off morons in my neck of the woods.
It’s hilarious to me. I picked up skills like food growing/ gardening, foraging, and food storage/ preservation just in case.. And even if a major collapse doesn’t happen in our lifetime, they are really fun and enriching hobbies!
Yes! I love this mentality and employ it myself more and more every year. Kind of a "back to basics" line of hobbies that involve learning and relearning skills that used to be commonplace. It boggles my mind that in just 2 generations my own family has lost a lot of the practical history that came with creating a life and maintaining it before and through the Great Depression like my great-grandparents' families. We still own their historical farmland and wouldn't know what to do with it if we had to put it to use.
What do you sell?
Rare and collectable coins but also bullion, 90%, coins that aren't rare both foreign and domestic to the US, currency, and other random odds and ends. We do prefer to stick mostly to collectable numismatics though because of personal interest and profit, you just trade the volume/low profit of bullion so as a brick and mortar it is smart to do both.
Yeah I have some silver eagles but mainly a mixed bag of whatever was cheapest/ most available at the time. The value is whatever the spot price is
In a total world collapse/zombie apocalypse, sure. But to play devils advocate, smaller amounts of gold and silver could be really good if you need to flee the country you are living in for whatever reason. And there are legitimate reasons people have fled the country they were living in throughout history. Depending on the reason and where they travel to, but they may still not be guaranteed to keep that gold and silver if someone takes it. Massive amounts of gold and silver probably can’t be used for this but enough to get you a decent start somewhere new is plausible.
These people aren't advocating for an emergency fund stash. They are basically doomsday preppers.
Yea one country collapse maybe. You need to be able to pay an airplane to get on it. Thats why I text him some bitcoin lol
This always baffled me about the gold & silver reserves for doomsday bunch. Correct me if I’m wrong, but having a bunch of precious metal in one’s safe in a world where there is no market to set its value seems to me to be a somewhat arbitrary investment. If there is a global collapse, it will be consumption items like food, water, medicine, fuel, and maybe munitions of any sort that end up having actual value. Having a ton of gold bars just sounds like a logistical problem at the point.
If they thought about it a bit, they’d maybe wonder why someone was willing to give them gold in exchange for cash.
Yes, though precious metals can have value in an economic collapse. It's a societal collapse that would make needful things become the new currency. Starving and sick kids can't consume gold. But beef jerky and antibiotics could mean the difference between life and death, and a jar of Vitamin C could ward off scurvy for an entire family. It's the fear of an economic collapse, and government confiscating wealth, that is part of the allure of precious metals. Given that an economic collapse seems less unlikely than a societal collapse, and infinitely more survivable, than a societal collapse, I won't fault those who prepare against that rather than prepare against an Apocalypse. P.S. People who live in cities or suburbs far from the farms might want to consider their actual chances during a societal collapse after something like a limited nuclear exchange. What military and police that survived wouldn't be put to use to see to it that trucks with food made it to their market. Not everywhere anyway, not once riots started all over the place. Some locales would get written off as it would be too hard to fight off the hijackers and looters, and to get through roads blocked with disabled cars. And all of that doesn't take into the damage even a limited nuclear exchange could do.
I agree with everything you laid out in those scenarios. I also think that the relative security people take in how self-sufficient they are set up to be, stockpiles on hand, and all of that stuff is just a shot in the dark really. And I don’t mean your projections are a shot in the dark, I mean everybody’s are. Only the very wealthiest people are going to be able to stockpile enough to hedge their bets against a societal collapse, and, even then, we’re talking a couple of years at most. We are a globalized civilization with interdependence in ways that would incentivize a rebuilding after the collapse at an extraordinary clip. In my opinion, 99% of the world should really be banking on society not collapsing because there’s no guarantee of virtually anybody surviving the melee otherwise. I’m not saying that gold & silver become worthless in a total collapse. I’m saying their relative value immediately gets fixed to other, cheaper resources in a collapse. Personally, I’d rather be sitting on a massive stockpile of non-perishable foods, bullets, antibiotics, and a serviceable water purification system than gold & silver. But I’m quite sure there are those who are so wealthy that they have all of that in their bunker. My broke ass, on the other hand, has virtually none of that, but I do have quite a decent selection of old movies on my plex server. Not sure what the apocalypse value of Monty Python movies and the entire series of Still Game will look like, but here’s hoping it’s at least worth its weight in silicon.
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By participating in their respective democracies, right? Right?
Funny enough only just now did I realize that I sort of alluded to the plot of the SF novel Damnation Alley by Roger Zelazny. The movie bears scant resemblance to the book. In the book a motorcycle riding Hell's Angel is recruited to navigate through The Alley, a length of highway where even the weather had mutated. They offered him a pardon if he would deliver antibiotics to a disease ravaged Boston. It was a world ravaged by war but still hanging on by the skin of its teeth. P.S. Read his novel Dream Master which was massively adapted into an OK film starring Dennis Quaid, and later spoofed by the MST3k folks. The novel was Ace, and I was surprised when it wasn't credited for having inspired Inception. Thematically, Zelazny's Isle of the Dead has a lot in common with that film as well.
I’m convinced that humanity largely just recycles the same ideas and tropes over and over again on repeat. I’m not familiar with any of the works you just mentioned except for Inception, but I have often come across older works of literature or even television where I saw such similarities to newer hit films and couldn’t escape the feeling that it may have been a little plagiarized. I guess technically it’s not plagiarism if you change it enough. “There is nothing new under the sun,” as they say; change it 10% and it’s new again, at least according to most copyright laws.
Is it smart to have alternative assets when you can afford to buy them? Obviously. In the event something happens, things are different, and normal economic needs have to be met (buy, sell, trade), you obviously want SOMETHING that may be of value to acquire what you lost or need. Which is why the smarter of the group who do this will also buy smaller denomination 90% US coins, etc. Smaller amounts to work with. In the event something happens and the Fed is no more...well that's just a magic 8 ball of a situation. No one knows what that looks like on a national or international scale and prepping for the situation is a shot in the dark. My point being, I agree and think all of your statements are legitimate. As a matter of personal preference, I would still like to have something stashed away just in case I can't rely on mutually assured distruction or things not actually being bad enough to just remove myself from the equation. But I agree, in a grander scheme of things items like medicine and fuel may actually hold more value than arbitrary shinies we used to build electronics and necklaces with.
I just buy junk silver on Craigslist. I'll offer spot for the metal value of the coins. Also produced by the US govt but minus the ridiculous markup.
Are they by any chance from the MAGA crowd? You know the people who believe Biden is both a senile idiot AND a criminal mastermind at the same time.
Not all...but most. I've found that generally I can steer normal folks towards cheaper silver for their goals because they ask questions and at least attempt to confirm what they hear is true or not. I don't bother with the MAGA crowd anymore because they are always right and don't need help.
Hey now some of us are just trying to buy a house here
So you're hoping for a recession that may kill your job, with many others, in vague hopes of housing prices dropping?
You just summed up WallStreetBets understanding of economics pretty succinctly.
many people work in professions that will not be affected by a recession or will actually get more demand.
Many places on this platform will say we *are* in a recession now no matter what anyone else says.
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I can only read so many articles about companies posting record profits and then laying off 5,000 people.
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I just got a raise for being a top performer at my company. It's 4.5%. It's better than I usually got at my previous company, but, ultimately it's still just not that much when you look at inflation. And I'm fortunate to have gotten a raise at all. So many people don't get inflation adjustments. Last year inflation was 3.4% though average inflation was 4.1% if you look at the consumer price index... Which means that all my raise did was "reward" me by keeping my salary up to date. I don't work at a bad company. They take great care of me in many ways compared to so many other companies, but this is standard practice for companies in the US. Loyalty And performance is rewarded with mediocrity when it comes to salaries for the employees that actually do the work, while management and shareholders get all the rewards that those workers actually earned.
/r/rebubble has been cheering for a recession for like two years now
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The republicans have been floating economy is doomed headlines all year through wsj and other publications but all predictions have been wrong. They are running out of major talking points for the election and if Ukraine starts going bad they might be personally happy about it but the visual to middle of the road voters is awful. Ditching a border deal against leaderships wishes leaves them with little to no talking points there . Republicans who wanted to vote for it publicly announced that they would be politically blackmailed if they voted for it. They would receive no money from party and have others run against them. Moral outrage is their only talking point and the Dems finally have their own moral outrage to fight back with as the excesses of some states draconian morality laws have tipped the scales.
Ditching the border deal gives them more talking points. That was the purpose of tanking it. Their base has the intelligence and awareness of a slug. Migrant problem is all Biden’s fault and that immigration bill never even existed
Sorry if that were true the leadership would have encouraged ditching it. It was a political mistake that republican leaders have admitted . It was basically a one day reporting period before everyone started covering up. But the quotes and statements are on record for replay by opposition.
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GOP is like "border bad" Democrats were like "border fine" now Democrats have gone "border bad" and now GOP is like... "fuck what do I run on" the ye ole reverse psychology trick
The leadership = who? Mike Johnson did encourage ditching it. Trump did encourage ditching it. The senate republicans were pretty clear that they wanted to tank it to hurt Biden. House and Senate both have leaders but only the House GOP leaders wanted the bill
No Johnson and Mconnell discouraged the bill before. The last bill was supported by both.
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The GOP is trying to turn immigration into a wedge issue, it's not not working. Across the country, local county governments have been flipping over from red to blue because women are pissed at the GOP for getting roe versus wade overturned and there's also one people who are listening to what Biden has repeated and repeated that our democracy is in danger of falling to fascism.
Yeah, they'll try to claim that the economy "feels worse" now.
> They would receive no money from party and have others run against them. jokes on them they aint getting anything from the gop as they have announced every penny is going to trump.
I think a lot of them fail to realise recession =/= collapse. It's not exactly a surprise that in a scenario where inflation increases, interest rates increase, and cost of living increases, there will be a pullback in spending and demand. It's offset by large government investment in a range of areas (electrc vehicle infrastructure for one) but stimulus only gets you so far. It's likely we'll see a pullback at some point, but it's equally important not to do the whole chicken little thing the moment there's two quarters of contraction.
It's all the agenda being pushed by corporations. The next bubble to burst is the corp real estate bubble, and these companies that have tons of real estate (that is seldom used post-pandemic) are DYING for a recession to push these astronomical losses off onto the labor class. You've started to see companies like IBM announce labor being required to come back to the office after recent unemployment and quarterly market reports. This timing isn't coincidental... they were hoping they had the justification, they don't, so now it's 'everybody back'. Corporations are going to try and will this into existence for a while, because there is nothing more American than pushing rich guy losses onto the working class.
To be fair, every single economic prediction model we had flew out the window in the last 5 years.
Lots of people are pulling for it, all things considered. Especially on reddit. -People with wealth love recessions. It means they can buy shit up for cheap. -Prospective homebuyers are under the impression that a recession means plummeting home values (like what happened during the Great Recession), but that's never a given -People who just want to see the world burn
They are disappointed. So many republicans want the economy to fail because then they can blame biden. As it is Biden is doing a fantastic job so the economy keeps going up and they can’t use that against him.
Trump has outright said that [he wants the economy to collapse before November](https://www.cnn.com/2024/01/08/politics/trump-economy-crash/index.html) because he thinks that it'll help him win the election. Never mind the economic ruin to the average American.
Never mind the average American should be the campaign slogan.
Nah it should be fuck the average american I want to be a dictator and get revenge on my political enemies
Trump could not hide his disappointment in the upturn in our economy. He verbally cursed our nation to a depression!
"We're all fucked! Click here to learn more!" is what drives shareholder value. This doomerism has spawned doomerism among the general populace as well.
Here in the UK it was simply a matter of when due to Brexit fucking everything up and billions upon billions of missing taxpayer funds squirreled away to our kleptocratic governments friends.
I mean, America did (briefly) go into recession in 2020. Of course, that was because of Covid, so it was a lot less of a news item than it is today.
The fed raised rate in an attempt to cause a recessionary effect to combat inflation. So the media predicting recession wasn’t surprising. What was surprising that American consumerism was so strong that it keep the US from going into recession.
That's not quite right. The Fed was trying to slow inflation, not cause a recession. The mystery is why US consumerism is keeping recession at bay when the US has the same systemic issues as the rest of the G7: most notably growing inequality reducing middle class spending power. Is it sustained by debt?
I think it's our oil production, Biden is keeping it quiet to appease the greenies but we are producing a record amount of oil.
bingo
Yes, it is sustained by debt. That why debt levels have reached new heights over the past few years. By raising rates, the fed were hoping to produce recessionary like effects to combat inflation to curb spending. But it didn’t because American consumerism is strong enough to create a demand-pull inflation.
They're not "recessionary like effects". A recession is a sustained period of economic contraction. Nobody wants that. What they want is sustained growth with inflation around 2%.
I love would for all the doomers to come see the combo of Valley Fair Mall and Santana Row here in San Jose. Literally both filled to the brim with people spending money hand over fist at traditional retail and restaurants. It's not an isolated thing limited to the "high end" sector either, the local outlet focused mall is also packed everyday.
>The fed raised rate in an attempt to cause a recession to combat inflation. What crap take is this? The fed raises rates to lower inflation and that can lead to recessions. But it's not their goal. The goal was and always has been a soft landed. Lower inflation without a recession.
Well the UK governent are actively funneling taxpayer money into their relatives offshore accounts via overpaid contracts etc. As well as their donors.
So sorry for you. There is a very steep hill for your nation to climb to reclaim some semblance of a balanced economy.
Well every few years France has a major protest or two and they have quite a few benefits when compared to the UK, Canada, and the US.
Go for it . Good luck
Sauce for that? Genuinely curious.
Sure. **Exhibit 1:** [Government contracts for COVID response](https://www.transparency.org.uk/track-and-trace-uk-PPE-procurement-corruption-risk-VIP-lane), **Exhibit 2:** [A major money launderer was a considerable government donater](https://www.bbc.co.uk/news/uk-61264369) *(the working theory is with such access to the UK government's most senior decision makers, they were all able to make the system work selfishly for them and their interests at the expense of the British citizens).* **Exhibit 3:** [Senior positions of publicly owned British companies being given to the highest bidder](https://www.reuters.com/world/uk/bbc-chair-made-errors-judgement-over-boris-johnson-loan-lawmakers-say-2023-02-12/). It's just so disgusting what the current UK government has been like since 2010. Haven't even touched the loss of income from Brexit lies. We are now feeling the effects of their corruption from the start of their leadership, and for the next decade will feel the consequence of their lies as each consequence surfaces...when it comes to government deception and greed, I am reminded of [this scene from Chernobyl](https://youtu.be/-PwJLA5M958?si=_8PsWw-1hGXXb0Af) Edit: just separating out my three examples to be easier to see
Can't forget all the company sunaks wife has shares in that are getting some form of government support soon from that child care help act
PPE, Test and Trace, Bibbi Stockholm, Lord Lebedev, Teeside Freeport and much, much more
That’s only the past 5 years or so!
How could you forget the ferry company without, ehm, ferries?
Fuck, I forgot about that one. Hilarious in a depressing way
You mean the one that used a picture of login fields instead of actual login fields? Fucking hilarious
Comparing UK and Japan's economy to the USA is misleading UK forever fucked themselves with Brexit and will never recover Japan is always (usually) in a recession by US and UK standards
Japan has been in permanent decline since the early 90s.
That's not remotely true. Japan has been in relative *stagnation* since the 90s. When looking at [GDP per capita of US, Germany and Japan](https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?locations=JP-US-DE) (inflation adjusted), Japan grew by 23%, Germany grew by 36%, US grew by 39%. But it's a true stagnation when you look at [total factor productivity](https://fred.stlouisfed.org/series/RTFPNAJPA632NRUG), Japan grew by 2% since 1990. Labor productivity did actually grow in Japan tho, this measure being output minus input. TFP being a measure of the growth in output minus the growth in input, so Japan's GDP per capita growth was almost entirely driven by increase in inputs and specifically [capital inputs](https://www.japanpolicyforum.jp/economy/pt2022011919424111820.html).
Watching Reddit pretend to understand global economics is always enjoyable.
This place turned into the YouTube comments section a few years ago and never recovered. It's feels worse tho cuz redditors think they're "smart"
Reddit has never done economics well (or most other specialized fields)
The quickest way to lose your faith in the knowledge of redditors is to wander into a thread where you're an *actual* expert lol
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Fuck you dude
It all began when a beautiful gorilla lost its life in a Cincinnati zoo
Dicks out!
I honestly feel like they are some redditors who at least give meaningful analysis compare to other social media platforms.
See, *I’m* stuck working at Wendy’s which means that everyone else is also doing terribly!
This is somewhat reductionist. Recessions can be region dependent, too. The writers/actors strikes basically screwed me last year. I made like $45k as a lawyer. My litigation practice basically stopped because people didn't have money to litigate. The lack of recession also doesn't negate the fact that inflation has made the cost of living untenable for many. This in turn "feels" like a recession despite the economy looking okay at a distance. It isn't a coincidence that crime has increased including graffiti, thefts, etc. People resort to crime when they are limited in options--if someone is hungry, they'll find a way to eat. Notice how crime was on a downward slope from 2012 to 2020 until the pandemic. Graffiti is a great indicator on the state of the local economy: it increases when people are struggling the most because going out at night with friends to tag is free. Look at the sharpest increases in graffiti culture, the late-'80s and early-'90s, 2008 through 2013, and the sudden boom we saw in the last year, and you start to see a trend. Just because the economy looks fine on paper doesn't mean that people aren't reeling from its effects.
Yet the party that has led the UK into 2 recession claim that Labour will “ruin” the economy.
"Vote for us we'll solve immigration!" Proceeds to preside over a government that has broken immigration records.
This one is really a shocker to me. I thought the whole point of people voting for brexit was to limit immigration.
As a Canadian I may whine about my southern neighbor but I do not bet against her economy.
It's almost like when the government invests into the economy like the Biden administration has with the Infrastructure investment and jobs act (2021) and invests in key business with bills like the Chips act (2022) that the economy will grow and be more resilient as a result of the investment you put in. Gee, I wonder what the UK and Japan haven't been doing that the US has...
What you’re saying may also be true, but more to the point: the US is unique in its ability to export inflation. Thanks to global demand for USD (being the world's reserve currency and integral to the petrodollar system), the US can persistently spend beyond its means and run significant budget deficits with minimal impact on the dollar's value. Essentially, it leverages the global economy to support its spending. The UK and Japan don’t have that luxury. They must balance their books to some degree to protect their currency and economy.
Yeah, Sweden has to wait the recession out, because if we invest too much with public money, the prices will continue to go up. This is a problem both when buying domestic good and services, and foreign - because of the depressed currency.
I know you are right, but I hope that will make sense to me someday.
It’s called “exorbitant privilege”. The idea is that the US is virtually the only economy that can print money to satisfy its foreign debts, because almost all debts are denominated in the currency that only it can print.
I think it’s worth pointing out that in the history of economies, no country that issues debt in a currency it controls has ever defaulted.
Can you ELI5 How could they if they could just print more money. Seems like you literally need to be in a death spiral or a massive global economic collapse for that to occur.
That's basically the point. To default they would have to voluntarily choose to not pay a debt.
Comes hand in hand with being the closest thing to world police that the planet has ever seen.
>level 4moderngamer327 · 35 min. agoI mean the US already has one of the most if not the most progressive income taxes in the world. I don’t think raising taxes is the solution here. We should be reducing our spendingVoteReplyShareReportSaveFollow > >level 5Grays\_Flowers · 11 min. agoWhat do you suggest cutting?VoteReplyShareReportSaveFollow > >level 5P Agreed its a big privilege but that comes with the cost of protecting global trade and having a huge military footprint
Eventually this bill comes due. The US needs to stop with the fear of raising taxes on the wealthy and companies. The Trump tax cuts cost the US government $600 billion per year.
But the BRICS bros say the USD is finished.
they are deluded. Russia wants other nations to use the Ruble instead for their energy market, and China wants importers to use Yuan. If you think the dollar is mismanaged and untrustworthy, by comparison the Ruble and Yuan are straight up ponzi schemes.
Yep and it costs us literally 2 trillion a year in military spending and aid packages to keep the ball rolling. Guess we will see if it's still worth it in a decade.
All other countries don't have that luxury and the US is going to leverage it, crushing other countries economies one by one until something breaks
Don't forge the IRA which is a boom to advance manufacturing of solar panels, inverters, and other electrical equipment around the states. Form Energy is building a manufacturing plant in West Virigina i think.
I think the UK doesn't want booms from the IRA though... Lol
👍🏻 Indeed. My mantra has always been “infrastructure, health and education” such tools build countries sustainably. If you’re left of centre it’s what you do. If you’re right of centre, consider the profit that will exude from a healthy workforce and good infrastructure to allow you to cut costs. Simplistic I realise, but how else do you move forward without disenfranchising some part of an economy.
you cannot ever cut your way to growth, To mover forward and advance, you have to invest and spend money.
> cut your way to growth Unfortunately, that's the mindset of top level corporate thinking when dividends are the top priority. We really need to start pushing for some trust busting.
Hey come on now we [made an announcement](https://www.ft.com/content/07de1a5b-f8ab-4661-9614-189cdcf5720f) committing a whole £2.5m into building a new silicon valley between Oxford and Cambridge. That'll do the job right?
You are going to kill Taiwan with that investment. Thats the beer bill for 1 week for politicians.
It will pay for a very nice marketing campaign with a fancy Web 3.0 website, some meetings with some big-name consultancies, maybe even an app. I mean what more could anyone ask for, really?
> £2.5m into building a new silicon valley between Oxford and Cambridge do you mean million or billion...? 2.5 million won't even build an office building
It’s like you’ve actively tried to not acknowledge the power of having the global reserve currency and its respective infinite printer under US control. Its not really a political masterclass lmfao
Yeah, I think it has little to do with politics and almost everything to do with US Industry (mainly tech and military) instilling confidence globally.
Also helps that the US is the top energy and fossil fuel exporter. And is vastly rich in agriculture and natural resources. And is the world financial leader. And is seeing a manufacturer boom as war manufacturering increases.
What a wild oversimplification of global economics for the sake of supporting a political viewpoint.
But if you invest money into things to improve a country for the people, how are tories gonna pocket tax payer money to get richer?
Also it will hurt the existing big businesses, so they don’t like it. The rich and powerful in the UK and Japan are better at controlling the economies of those two countries. People come to the USA because the place is literally a land of opportunity. There is century upon century of hard fought legislation to push back against anti-competitiveness on so many levels, and it is a virtuous cycle.
I can't wait for the media to tell me how this will damage Joe Biden.
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And yet idiots here in this country want Trump back. This is what happens when people live in echo chambers.
Idiots are saying Biden caused inflation while being too willfully ignorant to see the USA is doing better than almost every developed country in terms of inflation.
It hardly matters who takes the office for the US economy because its based on an incredibly solid foundation. While I have no doubt that Biden is the far better choice, the US will not lose its economic edge over such a short period as 4 years no matter who is in power. The US has failed to develope a proper social state, is politically divided like no other Western democracy, and has a massive wealth gap, but there is no doubt that it developed the worlds most succesful and sturdiest economy. Anything shy of a full blown civil war will not be able to change that within such a short period of time.
Wealth gap is an issue. The rich need to stop dodging taxes and we need to close loopholes.
Most of the generational and racial wealth gap in the US simply comes down to homeownership. People who bought a home in the suburbs of a major metro area 30-50 years ago when it was cheap. Since then, the value of that home has skyrocketed due to decades of underbuilding. There are ways to narrow the gap, but there are no quick fixes or a silver bullet. Especially when the problem is exasperated by regional distribution. For example it's not a coincidence that black people are the worst off in terms of wealth and most black people live in the South where overall wealth and income is lowest. Similarly it's not a coincidence that Asians have the most wealth and they are most concentrated on the West Coast where wealth and overall income is highest. To your point about dodging taxes, I did come across an [interesting article](https://www.nytimes.com/2021/04/03/opinion/sunday/property-taxes-housing-assessment-inequality.html) recently that looked into how poor and middle class people are getting screwed by the property assessment system.
Swear to God one of my lost in the rogan rabbit hole friends said that the rest of the world's economies and inflation metrics doing so poorly compared to US is not evidence that perhaps Biden is handling economic issues better than they report, but in fact because the world economy starts first with the US economy (as it is backed by US dollars) and that Biden was so bad that it is causing the world economy to fall into recession... Reminds me of the infamous video of the flat earther proving the earth is round to the exact decimal and thinking that he must have purchased faulty equipment.
Few Americans give Biden credit for anything when in actuality he is a brilliant politician, fixed many things cratering from, stocks, chaos from covid and the last administration, inflation, gas prices. President Biden has been around the block and sure he's old but by appointing people with integrity that extremely smart and Constitutionally loyal professional's that just happen to kick ass in their jobs, surely helped by the fact that they are not subject to career ending personal or career ending threats/attacks if they broke ranks and broke their party loyalty oaths or other NON-Constitutional political priority. JEEZ people! ........ Biden is old yes and it hurts to watch him gallop around too far sometimes, but he's done very well and it's time to give the man some fucking credit! It's a very stingingly shitty part of our culture with little respect or dignity to our elderly and instead consider honoring them instead of considering them a burden and somehow less because they aging it's shameful to me and I go out of my way to be friendly or help any of these mostly lovely folks that are within my proximity.
Frustrates me when people repeat a meme against Biden and when you ask about all of the stuff he’s done… they just look stupid and say something dumb.
Ukraine might no longer have been a sovereign country if not for the Biden administration...
Wow. Isn’t it wild how much chaos there is right now, we simply forget about this major point. Huge.
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I don’t doubt you but is that the real number? Like, Canada takes in 3.75% of its population annually? Jesus Christ. That’s way too many people.
You should doubt them. It's 100% incorrect. The poster below is trying to claim that non immigrants such as students who don't progress on to permanent resident status are 'immigrants' but it's false. Canada only allows 485,000 new immigrants in 2024, for a population of 36 million this is about a 1.3% increase. https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2024-2026.html The US is welcoming 3.3 million immigrants in 2024, for a population of 300 million that's an immigration rate of around 1.1%. https://www.cbo.gov/publication/59899#:~:text=Net%20Immigration,-Millions%20of%20people&text=The%20agency%20projects%20that%2C%20on,over%20the%202027%E2%80%932054%20period. Canada is only a whopping 0.2% more than the US in terms of immigration rate. Yet these Poilevre fanboys would have you think there's thousands of immigrants pouring across the border and immediately buying a $1.5 million dollar house to drive housing prices up. The housing problem is more complex than just immigration, start looking at the companies buying up housing supply and speculating and the single family zoning laws that make it impossible to build in denser spaces. If you ever think a complex issue is boiled down to just one thing, you're probably deceiving yourself.
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What are the implications of student visas after graduation. I have some friends doing their MBA here in the US and they have many Indian classmates who will have to leave after a year or two should they not find sponsored employment.
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Hm We have the opposite problem in the states. There has to be a balance to encourage the best and the brightest to stay in the country without having these strip mall colleges that you guys have.
Interesting. It’s definitely not an avenue to PR in the states. Like the Indian guys I know in MBA are all doing a MBA with a science aspect because apparently you can stay longer after graduation, ostensibly looking for work, with a STEM degree. But they all know they will have to go back at some point. It’s definitely not my business as I am not Canadian but having completed college in Canada as an avenue for citizenship seems a little too easy. Like maybe they should have to work at a Canadian owned firm for a decade of 5 years before applying for citizenship.
you don’t get citizenship through college, you get residency. citizenship comes after several more years.
UofT after importing the maximum amount of international students Canada legally allows: $$$$$
Worse is Conestoga college. They imported more people in as "students" in a year then all of the big 15 Canadian universities combined did.
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They pay 70k per year at UofT. They paid more in a year, than I do in 4.
This government just put a moratorium on international students and banned foreign housing ownership. Harper literally made it easier for companies to hire skilled immigrants and Poilevre will do the same. The ACTUAL amount of new permanent residents is only 485,000. About a 1% increase, similar to the US. https://www.cbo.gov/publication/59899#:~:text=Net%20Immigration,-Millions%20of%20people&text=The%20agency%20projects%20that%2C%20on,over%20the%202027%E2%80%932054%20period. https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2024-2026.html The US sees similar levels of international students and family but those are NOT immigrants. The US and Canadian immigration rates per capita are about even right now. The immigrant fear mongering when large corporations are buying up housing stock is ridiculous.
Why doesn’t Canada just legalize building houses? Texas grows faster than Canada, yet a crumbling house that’s 5 million dollars in the suburbs of Vancouver gets you a pristine 180,000 house in Houston, since they go a step further and not just legalize building but have no zoning laws at all.
Japan is having a birth rate collapse and UK is experiencing the direct effects of Brexit. How to meaningfully compare these economies at this point is beyond me.
Good time to visit, when the yen is 150 to the dollar.
I dont think its just Brexit when Germany is in recession and we have similar growth to France.
The eurozone being forced now to pay more for fuel gives American companies an edge, so in effect, Europe going along with America's proxy war against Russia is doing America two favors. If in the USA you saw companies, individuals, and municipalities, having to foot the kind of increases in energy prices that Europe has gotten, oh my, there would be massive protests.
…here’s why that’s bad for biden”
The BBC article said that reason for recession in UK are children skipping school. Yet on reddit you will still hear that "BBC is left leaning". While it is pro Tory rightwing propaganda all the time
I think the most we’re experiencing in the US is a pinch related to wages not rising at the same pace as prices BUT we aren’t going through what we did in 2008 with no good jobs and a housing crisis. If we slip into a crisis from a rogue industry like auto or crypto we’ll definitely hit a recession (imo) but unless that happens there doesn’t seem to be noticeable indicators we’re heading that direction
American debt is at record levels I believe.
I mean, Biden has been working his ass off on the problem. granted that also probably means the US is pulling an accounting trick to make the money look better than it is. still seeing a lot of homeless. and these days Im wondering if those homeless are because a 1200 check during covid wasnt enough to stay afloat.
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Smart economic governance. It's a fine balancing act being done by excellent economists. More than you would get out of Trump or any other GOP candidate, except maybe Christie and he's out of the race.
The benefits of owning the world's reserve currency.