Upcoming Economic Depression

[Lone MacReady]

I wonder why the kikes in ownership of our government put a Federal Reserve (private Jewish Bank) Rat in charge of the U.S. Treasury? Hmm, it's almost like they themselves realize this is the end of their 100-year Ponzi and will be getting the last of America's wealth squeezed out before they drop anchor for China wholesale.

 

[Harvey Danger]

1. Regarding crypto, what about Crypto that we get from clicking on advertisements? We're not paying cash out to get those, however small they are, and as you said, it is still a way to help the site out (at least until the inevitable repeal).

Absolutely. I'm basically giving the same advice Null did: don't buy crypto, it's too expensive. But do acquire crypto, either from the "free" giveaways or by doing work in exchange for crypto payments.

I'll add that you shouldn't commit all your savings or income into it; treat it as a hedge, or as play money, or as a long shot gamble. Same rule as for gold: don't hold more than 10% of your assets in it.

2. People who are angry at how the culture has abandoned them, especially the right, need to look very closely at all of the entertainment (including subscription services), fast food, restaurants, and food delivery services companies that have supported #BlackLivesMatter or #BLM. If they have, do not give them money.

Agree, and I don't have any subscriptions. But I've been a cable-cutter for over a decade, getting all my entertainment from the Internet and the occasional rented movie, so that's easy for me to say.

There's a lot of people currently plugged in to consumer pop culture who would be miserable going cold turkey, so it's fine to ease them out of it. So don't feel bad if you just can't get rid of Netflix, or if your kids heavily use a Nintendo Online subscription. It's not feasible to expect everyone to get their entertainment hours from shitposting online. The important thing is to switch from CONSOOM EVERYTHING mode to only a cheap, flat rate of participation, and maybe that goes to 0 eventually.

(I do have Amazon Prime, because my line of work requires getting things at Prime delivery speeds; so as a supplement, I have access to the Prime Video library. It's a good way to get a handful of big movies for free, long after they're out of theaters, but still I only find it worthwhile to go there once every few months.)

 

[Someone Awful]

Absolutely. I'm basically giving the same advice Null did: don't buy crypto, it's too expensive. But do acquire crypto, either from the "free" giveaways or by doing work in exchange for crypto payments.

I'll add that you shouldn't commit all your savings or income into it; treat it as a hedge, or as play money, or as a long shot gamble. Same rule as for gold: don't hold more than 10% of your assets in it.

Okay, now I'm interested in hearing about this. I'm not expecting much, but any gains made has to be better than nothing.

Agree, and I don't have any subscriptions. But I've been a cable-cutter for over a decade, getting all my entertainment from the Internet and the occasional rented movie, so that's easy for me to say.

There's a lot of people currently plugged in to consumer pop culture who would be miserable going cold turkey, so it's fine to ease them out of it. So don't feel bad if you just can't get rid of Netflix, or if your kids heavily use a Nintendo Online subscription. It's not feasible to expect everyone to get their entertainment hours from shitposting online. The important thing is to switch from CONSOOM EVERYTHING mode to only a cheap, flat rate of participation, and maybe that goes to 0 eventually.

(I do have Amazon Prime, because my line of work requires getting things at Prime delivery speeds; so as a supplement, I have access to the Prime Video library. It's a good way to get a handful of big movies for free, long after they're out of theaters, but still I only find it worthwhile to go there once every few months.)

To be fair, Amazon Prime is a subscription service. It's just that Prime offers more than the typical movie streaming services. In addition to streaming contents, you also get certain TV shows and movies for free, deals on numerous products, and as you said, getting stuff at Prime delivery speed. I was subscribed for years because it is such a convenient feature to have. I still technically have it, but due to my stance and that my line of work doesn't require it, I'm not renewing when it finally expires.

Having said that, didn't think of the easing out method. I've been telling my right-winged friends to outright shut off companies that support BLM. Maybe this may work as a compromise. I know that I used to be in a CONSOOM EVERYTHING mode and I was contemplating whenever or not to continue to support the companies I liked otherwise despite most of them kissing the rear of BLM. After the election outcome became obvious, that's when I decided to cut ties with them outside of used products.

Personally speaking, I will always be a fan of my favorite franchises. But the truth is, we are a number to big corporations. We exist in their eyes in shareholder meetings, as a dollar sign, and nothing else. When looking around at the huge collection of entertainment many of us have and that obtaining more comes in the form of waiting for physical media or piracy, it's makes cutting ties that much easier. You can still be a fan of the franchises you enjoy and still take a stand against insane leftism.

If nothing else, and bringing this somewhat back to topic, this will help deal with the inevitable economic depression that's coming. It's also a good idea to get into hobbies that,

- Doesn't cost as much
- Requires less or even zero interactions with wokeism
- You can get away with just buying physical goods used or not giving companies that virtue signal money.

 

[AMHOLIO]

I'm going to stick on pirating my movies but still good advice everyone.

 

[18.7%Russian]

I'd imagine most likely it'll be the wagecuckers suffering the most because of the increasing minimum. They're definitely going to have to either lay off a good hand of them while losing out on the labour or keep them employed. If the latter expect some price increases on everyday commodities like food and other essentials. I don't think It'll cause a full wide-scale economic depression though if some things increase by a couple dollars in price, along with some starbucks employees losing their job and being forced to go into trades for example.

 

[Gig Bucking Fun]

We’ll go through a “depression” the same way we went through a “depression” when Covid first hit. For anyone that isn’t barely managing to scrape past the poverty line, it’ll mean you get one less trip to Disney this year. That is to say, it’ll be an inconvenience more than anything.

The days of standing in bread lines to ration with your family are over: we are in the age of convenience.

Every doomer on whatever message board you’re lurking will convince you otherwise: that a new low in the stock market will mean your father will have to work slave labor 24/7 and that your mom will have to sell her body to avoid starvation, but the truth is that, in a first-world country, it’s very unlikely you’ll go from having enough time to lurk KF to living on the streets, unless you’re a complete retard or a junkie.

My advice: save your money, invest, maybe buy some gold. You’ll be fine.

 

[TerribleIdeas™]

Those things are whats called "systematic value goods"
They only hold value as long the system which gives them value is intact.

What matters in times of severe crisis is how many people you got on your side (political power), your skills, how good you are with dealing with people, your health and how prepared you are.

Remember, that also applies to fiat currency.

My piece of advice is try to find and order some good books on farming, hunting, trapping, fishing, etc., if you're planning to "retire to the country", and consider now only getting a couple good quality hunting bows and extra strings, but also consider getting a reliable rifle that has a common and easy to reload cartridge, and consider getting the gear to reload that brass. As mentioned above, you don't have to go prepper about it, but keep in mind that the more skills you have that can give you leverage in a barter economy, the less dependent you are on currency.

I would also advise hitting swap meets, garage sales, and farmer markets that tend to have tools for sale, and get yourself 2 of each major carpentry tool, so you're prepared for the possibility of being able to repair your own structures. The only reason I'm suggesting older tools is because they tend to be vastly more durably made than a lot of modern tools; for example, I have multiple hammers, ranging from tack to framing to finishing to short sledges, and the ones that have lasted best have been the ones I got when I started my career, that I maintained, and the ones that I've got that I'll potentially loan out at the newer ones, the sort that have fancy antivibe tool tip bullshit. I can make and fit a new handle into any of my older hammers, but I can't re-weld a tang back onto a snapped Estwing, or straighten it if it gets a deflection, because I'll be risking a weak spot.,

If you think you can maintain them, getting a few of the solar panels that have ac/dc convertors attached can also be good, because in a pinch, you can weld using an old car battery, as long as you're not intending to install it back in the car. It's fine for boosting though. Basically, if you have rechargeable devices, those kinds of panels can keep them functional for a long ass time, as long as everything is well maintained.

 

[REMEMBERMKULTRA]

We’ll go through a “depression” the same way we went through a “depression” when Covid first hit. For anyone that isn’t barely managing to scrape past the poverty line, it’ll mean you get one less trip to Disney this year. That is to say, it’ll be an inconvenience more than anything.

The days of standing in bread lines to ration with your family are over: we are in the age of convenience.

Every doomer on whatever message board you’re lurking will convince you otherwise: that a new low in the stock market will mean your father will have to work slave labor 24/7 and that your mom will have to sell her body to avoid starvation, but the truth is that, in a first-world country, it’s very unlikely you’ll go from having enough time to lurk KF to living on the streets, unless you’re a complete retard or a junkie.

My advice: save your money, invest, maybe buy some gold. You’ll be fine.

I don't know bro, if my employer has to pay me 15 dollars an hour there will definitely be layoffs. Inflation is a bitch.

 

[DeadFish]

There used to be articles how women would suck Dick in exhange for gasoline after hurricane Katrina but I cant find it.

 

[Spooky Doot Skelly]

It's not going to be a Depression in the way you're used to.

Both parties are completely on board with trillion dollar "bailouts", sending checks directly to people. This erodes the economy while simultaneously keeping it afloat. So you'll get all the usual sob stories about people losing their houses and jobs, but relatively few people actually will, compared to how a depression is supposed to go.

Spoiler: The usual depression advice, updated

Small businesses are toast. If you work at one, start living like your next paycheck is your last. If you're ambitious, don't start anything brick-and-mortar for the foreseeable future. Either way: find a job that leverages your portable skills, where you can work without needing specific equipment tied down to a single place. Hone your skills to the point where you can conceivably work for yourself, if you get laid off. If you don't have those kinds of skills, start learning one.

The food inflation has been a real thing for years. Stock up on food now, 30 day supply at least, 60 if you can afford it. You don't need to go all prepper level, because stupid people at the top will step in and do stupid things to make sure you can still buy food. Keep 1 spare bottle of every medicine you use.

Don't buy crypto. It's too late, and it's next on the regulatory hit list. Use it only for short term payment transfers, like tipping some tokens to the Errverlerd.

Buy land. Take out a long term mortgage, if you think you have a job whose wages will scale with inflation. If you're booging out and getting a rural hideaway, make sure you aren't in a flood zone before paying for that "great deal on acreage".

Opt out of consumerism. Status symbols are dead, tech gadgets have stagnated, and the culture has nothing for you any more. Every dollar you spend on collectibles or plastic crap is a dollar you won't be able to leverage in the near future. Impulse buys are the death of your financial resources. Pick a streaming service or online game that gets you maximum entertainment for a flat fee, or just read a damn book.

Finally: remember that every depression represents an opportunity. Position yourself to make money out of the downturn. Hold cash to buy things that will be cheap, buy things now that will become scarce or expensive in the future. Guess what the rich will buy up (real estate), assume they will be earning and spending boatloads of money on that thing, and front-run that industry.

It's never too late to buy crypto, if anything you need to get in NOW more than ever. Don't try to time the bottom, don't try to be cute; just buy high-value coins and HODL like your life depends on it.

I know Null said to "acquire" crypto but 99% of the services people can provide (that includes people using KF) aren't going to get you crypto. Unless you're writing a whitepaper, coding, or doing other niche freelance work, you'll need to convert fiat currency to crypto.

 

[AMHOLIO]

it’s very unlikely you’ll go from having enough time to lurk KF to living on the streets, unless you’re a complete retard

Dude I lurk on kiwifarms, of course I'm a complete tard. Oh god, oh man, oh god...

 

[Harvey Danger]

I know Null said to "acquire" crypto but 99% of the services people can provide (that includes people using KF) aren't going to get you crypto. Unless you're writing a whitepaper, coding, or doing other niche freelance work, you'll need to convert fiat currency to crypto.

And that's why it's a bad idea to buy crypto as a long term hold. Long term, it'll get regulated off the fiat exchanges, and you're stuck with just the economy that runs entirely within the crypto space. That economy is even smaller than what you outlined, because a good number of the people paid for that work still convert to fiat to pay their rent.

If you can't do work for crypto, don't bother with it, except as an intermediary for payments to people like Null. Holding it as part of your portfolio won't do anything other than whipsaw your annualized return percentages on your spreadsheet.

If you want to buy now and try to time the market crash to turn a profit, go ahead, but then you're speculating, not preparing.

 

[Gig Bucking Fun]

I don't know bro, if my employer has to pay me 15 dollars an hour there will definitely be layoffs. Inflation is a bitch.

Yeah, I wasn’t taking that retardation into consideration, most likely cuz it’s not gonna happen. “$15 an hour” is to Biden what “Build the Wall” was for Trump: an ultimately unfruitful promise to convince fence-sitters to check your name in the ballot box. I wouldn’t worry about it.

 

[REMEMBERMKULTRA]

Yeah, I wasn’t taking that retardation into consideration, most likely cuz it’s not gonna happen. “$15 an hour” is to Biden what “Build the Wall” was for Trump: an ultimately unfruitful promise to convince fence-sitters to check your name in the ballot box. I wouldn’t worry about it.

 

[mario if smoke weed]

Three words: Invest in JahCoin.

 

[Smolrolls]

My piece of advice is try to find and order some good books on farming, hunting, trapping, fishing, etc., if you're planning to "retire to the country", and consider now only getting a couple good quality hunting bows and extra strings, but also consider getting a reliable rifle that has a common and easy to reload cartridge, and consider getting the gear to reload that brass. As mentioned above, you don't have to go prepper about it, but keep in mind that the more skills you have that can give you leverage in a barter economy, the less dependent you are on currency.

Got any recommendations?

 

[TerribleIdeas™]

Got any recommendations?

Where I live, we don't have nearly the selection, so I'm going to defer to pretty much anyone with more experience, but if you take hunting magazines seriously, these are some good names - https://www.americanhunter.org/articles/2019/11/8/7-great-deer-rifles-under-700/

 

[General Tug Boat]

I've been watching the markets since this China Virus shit started hardcore. I am going to say that the best bet right now is to start hedging some money into metals, foreign bond markets, and a little bit into crypto. I agree with the seintment that it is a very bad time to buy crypto and if corn pop has his way, Bitcoin especially is going to end up tanking. On top of that, it's just not stable enough for any serious amount investment, opposed to trying to make some gains on exchanging between coins. Get some perishable food, enough for a couple of months, and learn how to live with in your means.

The market is going to end up tanking probably closer to the ladder half of the easing up of the lockdowns, and just generally because they are going to keep bloating the economy with all of this fake paper money to try to keep the ship a float. I don't think it's going to be a full blown depression, probably 2008 on steroids. Looking at the FED chair, Jannet Yelling is not going to be adjusting the interest rates for where they need to be, and since this has been the phenomenon since the great recession. We are likely in for the reckoning and some long term pain. I honestly think that COVID was just their excuse to bottom out the market and sweep the rug from everyone. This is just my observation though.

 

[RussCrowebar]

I don't know bro, if my employer has to pay me 15 dollars an hour there will definitely be layoffs. Inflation is a bitch.

I thought some cities in the U.S. already made that their minimum wage. Did those cities have big layoffs?

 

[Drag-on Knight 91873]

I don't think it's going to be a full blown depression, probably 2008 on steroids. Looking at the FED chair, Jannet Yelling is not going to be adjusting the interest rates for where they need to be, and since this has been the phenomenon since the great recession. We are likely in for the reckoning and some long term pain. I honestly think that COVID was just their excuse to bottom out the market and sweep the rug from everyone. This is just my observation though.

A recession on steroids is called a depression.