:swea
We've been in a recession for 14 fucking years. This shit is a recession in a recession.
The dot com bubble bursting has continued to ripple across the world economy for decades and instead of actually learning literally anything these motherfuckers keep doubling and tripling down with web 2.0 and now web 3.0
They're going to incinerate the earth because of a gambling addiction.
Best economic system that fails every couple of years, fails constantly for a large portion of people, needs to be bailed out and subsidized to continue, needs to exploit countries, peoples, and resources to exist
Great fucking system I love it god bless :amerikkka:
"The system can't FAIL! We can only FAIL the system! Clearly we weren't good enough for porky and NOW look at what he is forced to do!"
Instructions unclear. Can you illustrate the point you’re trying make, preferably with lots of arrows and labels?
Love to be entering life in the "find out" section of the fuck around and find out dichotomy
The good news: this is the farce round.
The bad news: it’s still pretty tragic.
I've been looking for jobs and no way the shit doesn't crap itself. A lot of places aren't raising wages, or are putting higher wages but aren't giving the same hours and etc.
Inflation continues. Gg
That's a good point, my only experience with Target was when I delivered pizza to them during crunch weeks and they absolutely inflated staff with tons of temp workers (hence the frequent pizza parties). That was pre-pandemic though and if they've actually cut back on that practice and the wage increase isn't just them maximizing productivity by cycling out workers depending on busyness that's good.
The place where this practice is absolutely egregious is general service industry work and specifically "event" work. Like weddings, conferences, conventions etc. Pretty frequently people working those jobs will be paid well hourly (a percentage gratuity on food costs for the event shared evenly), but because the work is event based you can sometimes go weeks without having work, then suddenly get called up to make $30/hr for 2 days. This makes holding a necessary second job to keep your real income above poverty level harder because you're operating on a schedule that's usually written less than a day before you go in.
Yeah, biggest problem with higher hourly but less hours is the fact that most people are putting close to 50% of their income towards housing. Any reduction in that gross amount will inevitably cut into your disposable (if you even have any) income.
The real solution to this is an abolition of rents and a reduction in working hours, but maintaining precarity in the working class is a function of marketized housing. It's meant to prevent people from staying in one place long enough to form a community and connect with the workers around them. We're at a stage of capitalism where alienation is the primary product of the system and any attempt to resist that is beaten out of us because an end to alienation is by definition an end to the capitalist mode of production.
Housing costs? Raise 'em! I owe you nothing!
Education prices? Raise 'em! I owe you nothing!
Taxes? Lower them for rich people, and let the workers carry the burden. I owe you nothing!
Wages!? Whoa whoa whoa, Labor is a human right and PEOPLE SHOULD WORK FOR FREE! JUST BECAUSE I OWE YOU RUBES NOTHING DOESN'T MEAN YOU DON'T OWE ME EVERYTHING!
And understand that this is supposedly the best job market for labor in decades. Let that sink in.
My dad is 75 and has all of his retirement savings in stocks. :picard:
Your bond allocation percentage should pretty much match your age.
true. Then it should be more like 90% due to such a toxic asset.
You made money from GME? You are already ahead of 95% of the :reddit-logo: apes.
Protip: put a period after an emoji in your post body to make it work.
And there I was thinking it was a weird meme to leave off some of it
So uh, what do? How does the average person prepare themselves? If I've got any savings should I yeet them into bonds and wait?
Bit early to buy bonds, as the interest rates are still incredibly low from Fed cheap lending policy.
Yes, what does one do to prepare when they don't have any savings at all and are barely getting by already? Start stocking up on canned foods, hoard meds, and buy a tent?
The specifics for building your own resilience will depend a lot on your personal situation (dependents, income, climate, local connections, health, etc). You may be able to grow some food, or start preserving what you can get for cheap. There’s a service for sharing common area fruit trees and stuff like www.fallingfruit.org
Aside from poverty finance tricks you can find most places, the only protection against hyperinflation is certain tangible assets. Traditionally, gold, jewelry, land, real estate, etc. They're in no way immune to it, but they give you options when things are really bad. Example: sell the land, other real estate assets to buy a plane ticket somewhere else, bringing the gold with you to sell at the destination and get set up.
A small food prep and simple preparation methods can also help you weather some challenges.
A slightly more difficult but better bulwark is mutual aid and organizing. A community kitchen and prep is better than people only having their own stuff. But that does take more organizing work.
Don't keep them in cash. Buy index funds, and hold them. Do not sell unless absolutely necessary.
Cash. High yield savings rates should hopefully come up soon if the Fed makes a big hike. Bonds still probably have room to fall.
Don't panic sell anything, but cash is king they say.
Naturally I am not a financial advisor and this is not advice - and bear in mind I am very good at losing money, but….Generally bonds are shitting the bed right now - the bond market is performing at its worst in 40 years. There’s not really any safe haven assets, everything is down.
If you have savings beyond an emergency fund, and don’t mind sitting on the money for a year Series I Savings Bonds might the best of a bad bunch of options. They track inflation, and the restrictions on them post-12 months of holding aren’t too bad:
I bonds earn interest for 30 years unless you cash them first. You can cash them after one year. But if you cash them before five years, you lose the previous three months of interest. (For example, if you cash an I bond after 18 months, you get the first 15 months of interest.
I’m trying to gradually ladder my emergency fund into them, unless I have to draw it down this year (which honestly looks likely).
I’m bracing, for a long, grinding bear market with stagnant growth after that. I can’t see how a positive picture for the economy will emerge in the coming couple of years.
"Well...a..at least we're free, right?! What kind of authoritarian would want to tell our totally qualified financial elites what to do...they might even want to make them pay.....the T WORD!11!!1!!!1!"
I am not kidding when I say that I am really hoping on living in some other country. Even :france-cool: would be a breath of fresh air
Never forget that corporate elites and their sycophants believe in wealth redistribution too. CHUDs are the real "you'll own nothing and you'll be happy" crowd. They would gladly eat the bugs and live in the pod for porky. They only moan about it as a way to demonize anything that might offend middle class consoomer "values" like public transportation or beautiful public spaces. Sharing space is for losers, everyone's hobby should be isolating themselves in their house, watching TV that tells white people how great they are, and drink corn syrup all day at the expense of the natural beauty that surrounds us every day.
They are fighting for their "right' to consoom and not think, yet they are also fighting for having lower personal wealth because they think porky is more qualified to have it out of blind faith in the private sector.
"Price gouging is good, because it ensures finite resources go to whoever needs them most." - ghouls
Wierd to see this happen after the government started embracing austerity policies.
Most of the people in government still think that inflation is the result of Trump and Biden giving people under ~$4k over two years.
I remember when the worker shortage was "caused" by all the extra unemployment payments so the gov't cut them off. It didn't fix anything, but they definitely didn't reinstate them. In fact, I see as many "Help Wanted" signs in stores around my area today when the unemployment rate is supposedly 3.6%
Sooooooooo any chance this will bring property prices down? Even if it's in the form of boomers offing themselves en masse when their retirement money evaporates?
