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Fox hosts forced to grudgingly admit economy booming under Biden
(www.msnbc.com)
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this post was submitted on 04 Feb 2024
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politics
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There's still a full on America+China+EU sized market crash boiling under that "booming" surface. I don't know quite how they staved it off with just Credit Suisse and two other banks imploding so far. But it's not done, it's not finished, it hasn't even started.
No idea what backroom deals were done in the financial sector to stop it all for now, but it's still coming. Otherwise corporations wouldn't still be bleeding the plebs dry with cost of living and trying to offset their shitty investments on the CBMS as well as fighting tooth and nail to keep students indebted forever, so the party can keep on rolling.
It's an utter clusterfuck. We'll see what happens in the next few years.
I gotta admit dude, this just smells like made up conspiracies. That Credit Suisse and 2 regional US bank shock happened almost a year ago. If those were emblematic of systemic issues, the failures would have continued, but they were instead just the result of bad governance and decision-making at each individual institution. The world economy absorbed those failures and moved on a long time ago.
And do you really think businesses need this excuse to raise prices? What about good old fashioned greed? Regarding prices either way, they've gone down in almost every sector of the economy besides groceries. High grocery prices definitely hurt the most, though, and I hope Biden can help influence grocers to charge less
I don't think they need excuses, no. But there is a limit to how much you can realistically get out of a stone.
The world economy has absorbed fuck all, because a lot of, if not all, bad debt is still floating around the markets, hidden in swaps overnight repo, and similar mechanics. I don't care if you believe me, it's crazy talk for sure. It doesn't even matter a single bit if I am right, because there's fuck all to do about it for most day to day people. I'm also not being alarmist in: OH BUY GOLD NOW, PREP YOUR BUNKERS!!!!
I would much rather be wrong here. Would be fan-fucking-tastic, and if I am, good. That'd be literally the best for everyone.
All I'm saying is, the underlying issues that keep leading to these market upsets aren't resolved and CS, et al are just minor break outs of a major issue that keeps bubbling and boiling. Fucked if I knew when it'll blow, but the next time it does, will be bigger than anything we've seen. Just these three banks failing in 2022 was already much larger in value than the entirety of 2008-2009 collapses.
Again, it doesn't matter what I think or say. I don't know if I'm right either, how could I? No one does. I just believe that it's much more likely that the same fucks that caused 2008, who never saw any consequences whatsoever and are still running the show, never changed their greedy underhanded and horrible ways and 2008 was never resolved either, than all of them having a change of heart and never doing anything shifty or illegal ever again, cross their hearts and hope to die.
Don't forget Evergrande
Here's a Plain Bagel video on why the Evergrande liquidation isn't as big a deal as lots of other people are hyping, at least to the world economy
No mention of swaps, no mention of debt lending and loaning. Evergrand's impact doesn't just come from the shit it does in China with the real estate. As a publicly traded company, there are many financial instruments tied to that single stock that have nothing at all to do with the real estate side of things.
Evergrande stock has been all but worthless for over 2 years now, what shoe do you think is left to drop?
No offense, but I'm so burnt out of this finance crap, everyone is lying, the whole thing is a pointless big casino. Reading anything about finance anywhere is as reliable as reading TASS (or Ukrainian) reports from the war in Ukraine.
Nothing ever is a big deal, then everything comes down and a bunch of flapjacks who caused it are laughing and drinking champagne above the sea of desperate people protesting the whole charade.
Economics is the one issue where I will actively not trust the experts. When so many of them were saying we were going to have a recession, I was starting to get suspicious. And it turned out, we didn't have one, even though so many were so sure of it.
Generally speaking, the experts seem to fall into groupthink and miss the actual trends. I've seen forecasters at some of the biggest oil and gas companies make the stupidest calls ever. They apparently forgot that in a cyclical business, we were due for a bust after a boom. It caught them by total surprise.
Are you talking about 2008?
Yeah, those occupy pictures hit hard.