Yen went on a free fall to a 24 year low yesterday. It is the third largest fiat currency in the world. Japan is also the largest holder of US treasuries.

  • Wheaties [she/her]
    ·
    2 years ago

    :angel-biblical: For this, our second recession of the 21st century -- The Second Dot Com Crash -- The Venture Capital Burst -- or -- That Thing We All Kinda Suspected Was Inevitable -- I predict:

    • increased austerity

    • an investment firm bailout, for our poor small-bean investors whom never expected crypto-securities-currencies to be misrepresented

    • $TSLA is Too Big To Fail. What does that mean for an investment portfolio pretending to be an automobile manufacturer? No clue.

    • Phoenix becomes very dry. Body count dry. Don't expect much coverage of this. It will be like the west coast wildfires of the last two years, another ecological disaster playing second fiddle to a dumber, more easily rectifiable disaster.

    • prediction is a fools game, so here's the only one that counts: Nothing will fundamentally change in the imperial core, but living and working conditions will get worse.

    • W_Hexa_W
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      1 year ago

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        • W_Hexa_W
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          1 year ago

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          • Z_Poster365 [none/use name]
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            2 years ago

            I let her know that I suspect the housing market is in a bubble but ultimately it’s her money and her call

            • W_Hexa_W
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              1 year ago

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              • Z_Poster365 [none/use name]
                ·
                2 years ago

                It’s hard to say too. I bought and sold a little rundown bungalow in 2018-2020. I panic sold during the pandemic because I lost my job and the economy was collapsing and I suspected housing would too.

                I made out ok, but would be in a much better spot today if I kept the house.

                • W_Hexa_W
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                  1 year ago

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                  • Z_Poster365 [none/use name]
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                    2 years ago

                    Bernie did a similar thing in the US and forced through some pretty nice Unemployment benefits and mortgage deferments.

                    Soc Dems serving their role as being the only sane, competent capitalists and rescuing capitalism from itself.

        • W_Hexa_W
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          1 year ago

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