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We've all accepted capital markets run on fae magic. Fuck gold, fuck nerdcoin, stock up on the material & get to know your neighbors. Maybe set up a still.
This is another case of economists predicting 9 of last 3 recessions isn't it
IDK. Seems like as long as the US Military holds a grip on the world, or continues being the mercenaries of Capital, the USD Hegemony will hold off any collapse that would affect the elites. The rest of us are probably fucked though.
The power of the US military is what holds the dollar up, but the dollar also holds the power of the US military up. A lot of our war machine relies on the importation of raw materials that will be harder to acquire should the dollar depreciate.
hmm, idk. I don't think there's enough space between Capital's interests and the strength of our military for that to be much of a concern. I mean, you and I will be fucked, but our soldiers are still disposable and Lockheed's CEO is still going to be sipping on top shelf martinis.... If our military's grip collapses we're looking at much more than just the US, we're talking about the all the colonial powers that take advantage of it as well. #OneBigEvilUnion
Yeah, but as US hegemony weakens, it makes sense that at some point that would affect the dollar also. Not sure where that tipping point is though.
I don't trust anything a ghoul says, and doomer shit always gets headlines regardless of what actually happens because liberal economics is just astrology for the bourgeoisie.
The collapse of the dollar is imminent because the collapse of the American empire is imminent. Once a great power loses hegemonic status, the loss of reserve currency status is inevitable. The dollar will stop being the global reserve currency as it loses its hegemonic status, and the past year has accelerated that trend dramatically. If you're China-pilled, buy some Chinese government bonds. Look into CNYB. The euro will do well (I'm assuming the yuan won't be The reserve currency because the CPC doesn't want that, so it'll be a basket and the euro will definitely be in it). Buy index funds. And yeah, honestly bitcoin might be a good hedge against the collapsing dollar. If you want to read about this collapse process, I really recommend The Long Twentieth Century .
Super weird, I think it's because it didn't have http:// in it maybe? I think I fixed the original link now. Anyway yeah the book is great, although his prediction of Japan as the next hegemon is obviously off the mark (and he later admits as such) as its very clearly China, but the mechanisms Arrighi describes are still entirely valid.
US Agriculture is a major export. So a dollar collapse would make US food incredibly cheap for foreigners.
Does this mean Americans eating tree-bark? Probably not. But would could find ourselves in something semi-comparable to the Potato Famine, in which prices at the grocery store skyrocket because we're sending all our foodstuffs abroad.
Get a loan or a mortgage lel
Having read it - depends what overlords will do. If say the stimulus is good enough, and financial capital is scared enough of usa wrath - nothing will happen. In bad stimulus situation you get depression, as aftershocks of spending collapse by lower earners will implode sequentially higher and higher rungs of society. If you get capital betting against the dollar, you will get much more sudden dollar collapse, something we have yet to see, which will explode commodities, shitcoin and housing prices upwards.
Before inflation or currency collapse (depending on your work conditions of course) is an ideal time to get loans, as the real value of your loan drops like a stone, while material objects remain, be it house or something you bought.
Edit: obviously this is playing with fire and uncertainties
Yeah it’s reverse house flipping, if that makes sense. Like for comrades planning their home this might be ideal scenario, just shift timeframe slightly, but you cannot suddenly do this without some safety net, as the risk is extraordinary.
Re: what else, cheapest thing is to buy leap options on chf/yuan vs usd, gold calls or crypto. If you think dollar collapse is eminent, you can sort of hedge you material safety by that, but of course if this scenario doesn’t materialize you lose your bet (but maybe sleep more soundly). You just have to resign to this money being lost money instead of checking your trading account like a maniac.
That's why I started to learn how to grow my own food. When food suddenly gets really expensive I have at least some backup. Also taught myself how to bake all kinds of stuff from scratch. Maybe it's naive, but it's something.
Moreover, when climate change consequences start making stuff even harder to grow reliably, it'll make it harder for you too.
The United States has the position of being the largest producer and exporter of food.
not sure if it's still true, the source is marked 1982...
The United States exports more food than any other country in the world. Among the top export destinations of the United States are Canada, Mexico, China, Japan and Germany.
but this one is 2017
There are definitely going to be worldwide famines this year.
It's gonna be a bad time. A real bad time.
Don't buy gold. If things go really bad, you can't eat gold and no one will want to trade it. Gold is a thing you buy if you assume capitalism will endure past the current crisis. Have some self-respect.
All good. 6 am here and I haven't slept. Thought I'd drop some wise words ;)
funeral plots,
seems like this is very low utility compared to the rest
