Subj : Re: Recession to Depression
To   : Kaelon
From : Andeddu
Date : Sun Jul 17 2022 17:39:55

  Re: Re: Recession to Depression
  By: Kaelon to Andeddu on Sat Jul 16 2022 06:31 pm

 > It's hard to imagine another currency being preferred over the United States
 > Dollar, but we're going to find out soon enough.  The EUR probably has
 > another 20-30% more to decline -- parity with the USD was just a start.  The
 > RUB resiliance is a local silo'ed matter, and all Asian currencies are a
 > total disaster right now.
 >
 > Arguably, many of these startups shouldn't have had access to the capital
 > that they were able to cheaply get.  Again, the short-term "syndicate
 > corporatism," or "late-stage capitalism," as you rightly describe it, has
 > painted myopic portraits of financial worthiness for what are, in essence,
 > barely seed-stage proof-of-concept companies.  They aren't even product
 > companies (genuine startup material), let alone customer-centric
 > corporations (those that are truly worthy of the public's risk-taking on the
 > open markets).  Fortunately, we're seeing a total liquidation of the
 > bullshit SaaS industry.  More than half of these companies are insolvent,
 > and this year so far, 357 of them have laid off over 53,000 employees.
 >
 > Don't even get me started on the absurdity of trying to create economic
 > currency models to stimulate voluntary restrictions on carbon emissions.
 > Scientifically, it's too late for humans to impact the planetary trajectory
 > (we would have had to make drastic changes to our agricultural and
 > early-industrial model in the 1820s, for crying out loud); but, more
 > broadly, Economically, this sort of faux-currency and exchange of "carbon
 > credits" is creating economies that willingly self-sabotage any form of
 > supply-and-demand and reward cheating-countries with unfair advantages.
 > _____

I agree with much of what you've said and have little to add. 99% of the public
are completely unaware of the disaster that will soon befall us and part of me
believes that it's probably a good thing as they'll get to enjoy, what appears
to me at least, to be our last good summer before the world goes full Mad Max.

Once the world economy releases some of the air in the massive debt bubble that
has been created, we will doubtlessly see the systemic collapse of many of our
institutions along with our ridiculously over-leveraged banks. There will be no
bailouts this time resulting in the failure of the insitutions which were
previously deemed "too big to fail" thereby causing terrible disruption to our
lives. We just have to brace ourselves for what's coming.

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