2020 We're Already in a Depression

[Martin Hash]

[C-Mag]

Excellent !

MMT = More Money Today

It's important that we recognize what is happening. Hoovervilles everywhere, SNAP card bread lines, Collectivists to the Right, Collectivists to Left.

[Smitty-48]

Excellent !

MMT = More Money Today

It's important that we recognize what is happening.

hence why overwrought fears of inflation are hysteria

a depression is a deflationary spiral, wages & prices are falling, there is only inflation in the asset bubbles

that is a strike of capital, refusal to invest in the real economy, money parked on the sidelines

[DBTrek]

I kinda view tent cities as the sign of a prosperous economy, in the first world. I mean, look at the population of completely idle we're able to support. You won't see that in North Korea. Takes a lot of cash to have thousands or tens of thousands of people around who literally do nothing productive all day, but are still fed, clothed, sheltered, etc.
No tribal society ever pulled that off.
Most nations couldn't or wouldn't bear the strain.

Yet here we are, funding a completely new lifestyle of permanent idleness with money we're just making up as we go.
Strange times, man.

(And yes, of course the crazy homeless people don't have much say in their unfortunate state. That's a sad case. But the addicted certainly had some agency in achieving their circumstances)

[Martin Hash]

The world’s immense productivity allows this situation but when consumption exceeds production then the inflationary cycle will commence.

[C-Mag]

I kinda view tent cities as the sign of a prosperous economy, in the first world. I mean, look at the population of completely idle we're able to support. You won't see that in North Korea. Takes a lot of cash to have thousands or tens of thousands of people around who literally do nothing productive all day, but are still fed, clothed, sheltered, etc.
No tribal society ever pulled that off.
Most nations couldn't or wouldn't bear the strain.

Yet here we are, funding a completely new lifestyle of permanent idleness with money we're just making up as we go.
Strange times, man.

(And yes, of course the crazy homeless people don't have much say in their unfortunate state. That's a sad case. But the addicted certainly had some agency in achieving their circumstances)

DB, you're off message. America sucks, we's racism.


The poor and destitute in America are wealthy by global standards. That's why people travel 2000 miles crossing jungles, mountains and deserts to get here.

[Smitty-48]

it's like when retail prices rise in Canada

that's not inflation, what is actually going on is a monopoly

the companies engage in collusion, it's a trust

it's a state controlled market which favours entrenched interests

it's monopolistic price increases, nothing to do with the macro

they are raising prices because they can not because they are being forced to

it's a good thing we have Costco & Walmart, otherwise the prices would get jacked through the roof

gasoline prices in Canada are rising while the price of oil is low, but that's all "Green" taxes, again, not inflation

the price of everything in Canada just went up, and all of that was the "Carbon Tax"

the price increases are just taxation and confiscation on behalf of the elites

[Smitty-48]

because we are in a deflationary spiral, prices & wages are not rising, they are falling

the cost of living is going up, there is a cost of living crisis

but it is not inflation, it is artificial

the elites are plundering us, the government is causing the costs to rise, to steal from the poor and give to the rich

[DBTrek]

DB, you're off message. America sucks, we's racism.


The poor and destitute in America are wealthy by global standards. That's why people travel 2000 miles crossing jungles, mountains and deserts to get here.

Reminded me of this, Carlus.

[C-Mag]

Food and Fuel prices are going to eat up an increasing amount of Americans wealth. In the 1940s or 50s, Americans spent about a third of their income on food. As of 2019 it was 8% of their income. Corporate, assembly production did that, Cargill, Tyson, Sysco. Very efficient. It's never happened before in the history of man. IMO, that's going to change. There will be pros and cons, but Americans aren't ready for it.