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Joined 3 years ago
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Cake day: September 12th, 2023

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  • Unfortunately not. This will be quite unlike the 2008 crash, or the 2000 dotcom bust. It is MUCH more serious than either of these two.

    The key difference is the leverage, there is a circle where the suppliers are highly borrowed, and their sales are to companies that are borrowing to buy it. This has a huge knock on effect as the companies in question are a massive slice of the key indexes which means everyone’s pension/401k/super is invested in index funds as the “low risk” option - when the index tanks, the pension funds tank which means the general population are looking at massive drops in wealth. There’s also a bunch of knock on effects

    What’s worse is that the current Fed board are on record saying interest rates will go up to control inflation and they’re not going to support the market ( a la 2008) which puts even more pressure on them. The current US govt has flagged in a million ways they are economically incompetent so don’t expect any smart decisions there

    There is a very very real probability of “The greatest depression” or the the great depression 2 boogaloo.




  • India has been a Russian ally since the West backed Pakistan in their war 60 years ago.

    Just because they are purportedly a democracy doesn’t make them western allies in any way. They claimed to be neutral (3rd world) during the cold war and after, but look at their actions, look at where they buy weapons, who they trade with.

    They’re mercantilist first just like China, but be under no delusion they would not hesitate to sell us out for pennies if we were foolish enough to embrace them.