Are we headed for a catastrophic economic collapse?

MiIfHunterOther than being prob the best comedian, he was the last great social commentator.

DominatorJacquesAgreed. Bill Burr is doing a pretty good job these days, saying what folks think, but are afraid to say.
George is a national treasure.

MiIfHunterYa Burr was the only other comic that came to my mind as well.

I’m a huge fan of comedy… but it’s been ruined. Like the whole chapelle thing.

do you remember Andrew Dice Clay when he was the biggest comic in the 90s? Try putting his stuff on Netflix or any media outlet these days. Ppl say political correctness started with the backlash Dice got

theLiquorBanks were receiving trillions in repo loans well before COVID even started, been facing a 2008 all over again
https://wallstreetonparade.com/2022/01/theres-a-news-blackout-on-the-feds-naming-of-the-banks-that-got-its-emergency-repo-loans-some-journalists-appear-to-be-under-gag-orders/

VTshredder69Thanks Biden. And all you idiots who voted for him.

DominatorJacquesAgreed. Bill Burr is doing a pretty good job these days, saying what folks think, but are afraid to say.
George is a national treasure.

VTshredder69Thanks Biden. And all you idiots who voted for him.

qazwsxedc34Bull Burr is a soft centrist.

TOAST.Really think things would be in a better position under that other guy? If anything catastrophic happens, it's been a long time coming.

r00kiePeople put way to much weight on politicians.

T.L.With any luck, the whole market collapses and I can scoop up 1000 acres somewhere from a broke and desperate boomer for like $18 and a 30 rack of old mud.

> "On Wednesday, CoreLogic provided Fortune the market risk calculation for 385 metropolitan statistical areas. Among those markets, CoreLogic rates 13 markets as having a "high" likelihood (between a 50% to 75% probability) of declining home prices in the coming 12 months. Those 13 markets include Niles, Mich.; Lake Havasu City, Ariz.; Chico, Calif.; Lewiston, Maine; Modesto, Calif.; Muskegon, Mich.; Pittsfield, Mass.; Prescott, Ariz.; Worcester, Mass.; Bend, Ore.; Kalamazoo, Mich.; Merced, Calif.; and Springfield, Mass."

https://fortune.com/2022/03/17/home-prices-drop-housing-markets-california-michigan-massachusetts-corelogic/

HypeBeastSeriously though. Is it me or does everything seem like it's headed right for the shitter and all those eviction moratoriums and stimulus checks and student loan pauses did was prolong the inevitable?

I know they say the housing market won't crash like 2008. OK, so explain how this trajectory will be sustained.

Some other stuff...

Rent prices are astronomical on top of stagnant wages.

People have trillions in student loans, and many can't afford to pay them.

Trillions in auto loans. You've got people driving cars that cost more than they make in a year.

This is all on top of the lavish lifestyles and having to have brand new everything and the gratification that comes with it.

Medical bills? Good luck.

Retirement savings? Americans have practically none.

Emergency savings? LOL


I was bored and took a look at housing prices in a few areas that I've considered moving to in the future. Holy fucking fuck. There are entire cities and towns I can't even afford now, but was able to just 6-12 months ago. I'm neither poor nor rich however my income puts me above the 90th percentile. You're telling me that only that 10% is responsible for these price increases and still buying homes? Doubt it. It's probably that plus kids buying homes they can barely afford with lenders passing out loans on max debt to income ratio applicants. Who the fuck is paying $3-400+/sq ft? That's a great way to buy a house you'll have to live in til you die. Or foreclose... Jesus. Affordability is a relative term to an extent but our spending as a society is unsustainable. The whole reason I bought a house 2 yrs ago was because apartment rent was unsustainably increasing and a money pit.


I looked at current listings in my own city just for shits. Look at this entire screenshot. It might seem affordable but the value is dirt. This is an area I wouldn't buy a house in if it cost half that much and you put a gun to my head. These are prices in literally the most dangerous area of Columbus. Who is paying for this garbage; it's not like the houses are even nice enough or have the bones to rejuvenate like they do in the hoods downtown. The people living here (prior to the increase) can't afford half what these homes cost. This is the type of place where stray bullets fly through windows and kill children. Don't let the Kroger deceive you. That's a bad area.

Idk I felt like ranting but also what the fuck people?!

Tldr: this was all a joke. Go buy a lifted truck and pimp that ride.

elcheapoI hope so, it's our only hope for shorter lift lines

theLiquorAlso getting back to this—we sold our house in November. You know how much thay house has apparently gained in value since then? $150k, just in appreciation. Compare that to the map of home prices in your area that you posted a year ago, if that’s not ringing alarm bells idk what is.

Also not ideal is the fact that this has been in the making for years, decades. But if we collapse in next year or two, every halfwit which makes up the majority of the population is going to make it political. Fascist dictatorships will start overthrowing governments across the world, not just like Trump in US—it will be everywhere.

i have 2 kids so it sucks, but just bring on the asteroid or nuclear war, this world is beyond saving and thats hardly even accounting for climate change

theLiquorBut if we collapse in next year or two, every halfwit which makes up the majority of the population is going to make it political.

T.L.Of course it will be made political because all of this is political. All of this is preventable but the parasite class doesn't want it to be prevented.

theLiquorIt’s not political. We’ve had 2 republicans and 2 democrats in office since we last had a balanced budget. Granted there are outside influences such as lame duck presidents/divided congress, black swan events, but neither party has taken charge. Democrats promote welfare, republicans promote corporate welfare. When you take massive donations from Koch brothers to fight labor laws so the Walmarts of the world can avoid offering benefits to “part time” workers, the taxpayers get to pick up the bill that stockholders save so don’t go telling me it’s a democrat caused issue. It’s all the same shit, i’m an economist and trickle down is a scam. My wife and i are in top 1% of earners we probably pay more in taxes than 5 working class families but you dont hear us complain even though when you factor in my wife’s student loan payments we actually pay a fuckload of taxes per what her actual revenue is. Now imagine if we have $50 million, no debt outside from the payment on our $20 million third Vail home, imagine despite all that we go complaining that we’re paying over our fair share in taxes because we have to pay for the welfare of those “freeloaders” making poverty wages who are sharing a bedroom with 2 other local workers/lifties in Vail that support our hobbies…

greed is greed time for this planet to get vaporized i hope there’s an actual civilized alien race out there to do it

T.L.Just give up then. Donate all your money and possessions to poor people and wait for the asteroid. Nothing is stopping you.

theLiquorStrong argument

CaseyIt’s a tale of two cities man. There isn’t shit for sale in the PNW every home that comes for sale sells immediately for hundreds of K over asking it’s always all cash, waive inspections 15 days close shit is just going off right now on the west coast. There are more tower cranes in formerly sleepy farm and logging towns than you would even fucking believe. Right now they are building light rail to connect Seattle to the outlying cities it’s like a 40 billion dollar project but it’s spurring a metric fuckton of mixed use development everywhere the track is being built and all around every stop. Every metric of economic growth is just absolutely redlining right now and it shows no sign of slowing down. Of course that’s what everyone says right before a giant collapse but IDK I honestly don’t see it for another 5-10 years minimum

Charlie_KellyStacking cash and waiting for a crash. Meanwhile I’ll ride the wave in the stock market and dump additional money into stablecoins. Plenty of money to be made.

theLiquorHave you looked into Pax Gold? I haven’t made any big moves of stablecoins into PaxG yet but seems appropriate not holding fiat but still getting 5% interest

T.L.8.5%

T.L.8.5%

LonelyLet's see how high that number can go!!!! I love renting everything I love financing everything!!!!!!!!!!

skiindanaIf inflation remains high, borrowing is actually a great idea. Part of why housing prices went up.

LonelyNice try Mr. Worldbank man. Not convincing me to increase the number of people I owe money to and the amount of money I owe for your "new world". Find some other chump.

DingoSeanAmerican prices on houses have gone out of control. Unless you want to buy a fixer-upper in some rural Ohio town with no culture or industry, you're basically fucked.

I've been legitimately looking at homes to purchase across the pond here. They are cheaper than buying a new car. Here are a few I went and checked out a month ago when I spent a few days in Ito, which is a seaside hot spring town a couple of hours by train out of Tokyo. All three of these houses were effectively ready to move into, and required minimal maintenance if any. These prices are no joke (also add about 8.5%-10% as a home purchase tax)

Put these houses in California and they'd all cost at least 10 times this much, without question...

Icant_kfedMaybe our economy wouldn’t be fucked if we stopped sending money we don’t have to people who we have no reason to support

CaseyAre you allowed to just up and move to Japan? I honestly don’t know just seems like a pretty closed society.

DingoSeanAmerican prices on houses have gone out of control. Unless you want to buy a fixer-upper in some rural Ohio town with no culture or industry, you're basically fucked.

I've been legitimately looking at homes to purchase across the pond here. They are cheaper than buying a new car. Here are a few I went and checked out a month ago when I spent a few days in Ito, which is a seaside hot spring town a couple of hours by train out of Tokyo. All three of these houses were effectively ready to move into, and required minimal maintenance if any. These prices are no joke (also add about 8.5%-10% as a home purchase tax)

Put these houses in California and they'd all cost at least 10 times this much, without question...

Turd__AuthorityMight have to buy me a house in Hokkaido instead. Rent out to all you ski bums

Turd__AuthorityIf you didn't know, this was the result of the economic bubble and subsequent collapse in 1991 in Japan. Still haven't recovered.

DingoSeanI mean, sorta yeah. I did lol. Lots of people have... As for buying property in Japan, anyone can do it. You can buy property on a tourist visa. The housing market is lax as fuck.

Japan has actually been the easiest country for me to move to if I'm honest - and it's the 3rd foreign country I've lived in... There are some hoops to go through, but It's really a pretty easy process once you boil it down.

Basically, all you need to do is prove that you are able to make over 25 grand a year, and then pay income taxes on that in Japan. Or get a business sponsor as I did. (which for many industries often doesn't cost the company anything, so they're pretty easy to find - English teaching is a popular route)

Otherwise, there are lots of people who just do the tourist visa bounce... where every 4 months, you get a super cheap round trip flight to Korea or Taiwan and back (many people make a weekend trip out of it) or go visit family back home for a holiday, then renew your tourist visa for like 30$ on reentry, and continue on your way until you have to re-up it again. That hasn't been possible during the covid years, but once unrestricted tourism returns, it will no doubt become a thing again.

I know several people who actually started out their businesses in Japan doing tourist hops, and then once it was big enough, that is - making 25,000 a year or more, they were able to 'self-sponsor' through their company and become a permanent resident (green card).

You're eligible to apply to become a Japanese citizen after only like 5 years of living there.
You'll have to ditch your home passport and tell Japan that you're relinquishing your US or Canadian citizenship or wherever you're from - since they don't allow dual citizenship. But you can always go back to the USA or Canada, and have it reinstated whenever you want since most countries grant citizenship by birthright. I have a bunch of friends who are 'dual' but they just don't tell Japan that they also have a US passport that they'll use when reentering the USA.

DingoSeanAmerican prices on houses have gone out of control. Unless you want to buy a fixer-upper in some rural Ohio town with no culture or industry, you're basically fucked.

I've been legitimately looking at homes to purchase across the pond here. They are cheaper than buying a new car. Here are a few I went and checked out a month ago when I spent a few days in Ito, which is a seaside hot spring town a couple of hours by train out of Tokyo. All three of these houses were effectively ready to move into, and required minimal maintenance if any. These prices are no joke (also add about 8.5%-10% as a home purchase tax)

Put these houses in California and they'd all cost at least 10 times this much, without question...