love that the backbone of the western economy is dudes in suits exchanging empty briefcases that have dollar signs on them
Man A hands Man B one million dollars.
Man B then hands Man A back that one million dollars.
They have just increased the GDP by two million dollars.
Crypto bailout in 2023
Listening to Jerome Powell explain why we need the fed to buy a trillion dollars of dogecoin derivatives to prevent meemaw’s pension from going to zero is gonna be my Ted K seeing a road cut through his woods moment
Oh are you kidding me? I was joking that this was going to happen back in 2021, I never thought they would actually do it. Are we really going to have a farcical version of the 2008 crash?
At least they aren't also going to fuck up housing this time
Next wave of recession incoming! Time to blame the poors again! :capitalist-laugh:
So we can all see the train about to derail. What can be done to safeguard against it or potentially make money from this shit?
I got some money in the bank sitting on an account with literally 0% interest which feels stupid, but at the same time investing in something right now also feels stupid
If you're getting 0 interest you're just letting the bank rip you off because they're just doing reverse repos at the fed or buying T bills and earning risk free 5% with your deposit and giving you nothing. You don't have to invest in anything risky, you could buy t bills from treasurydirect or you could buy an ETF like USFR that invests in short term treasuries. The only risk is that you'll have to wait 2 days for your funds to settle once you sell and transfer back to your checking account, although there are some brokerage investment accounts that give you access to a debit card that you could use like a checking account.
Leave any money you don't need in a low maintenance index fund, and keep adding to it.
DOW is the safest typically.
Love it when the various sectors of the economy spontaneously line themselves up like dominos during a year that is already likely to have a recession in it.
It'd be vaguely amusing if Congress spends so much time in "debt-ceiling standoff" mode this year that there are no handouts.
you love to see all our major financial institutions decide to buy the dip
$SI stock went up on this news. Oh, this bank would've gone bankrupt if it didn't find some last-resort source of financing that wasn't even supposed to go to a crypto bank and it could maybe be illegal? BUY BUY BUY.
