How bad is this recession going to get?

How bad is this recession going to get?

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what recession?

All of the people unemployed, economy contracting etc

How does complete economic collapse sound?

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I'm not much of a doomer but I think it'll get bad once the government checks stop flowing and we start inching closer to winter.

?

so bad that pinkies drop to $2

Sounds like a not me problem; I have to work to not get a jobs to keep getting gibs and trade crypto

In Weimar germany the worst deficit was 13% of GDP. Today the United States is running a deficit of 25% of GDP

is society going to collapse in the 2020s?

>linkies

Hey! You shut the fuck up right now!

Did Weimar have the reserve currency?

Same here. If I make it from Link I'm definitely paying my taxes, because the government bought my stack.

america was already destroyed in 2008. white men have been under total attack for about 40 years. id say any more suffering in USA and many many many men are going to turn to killing everything and anything thats government jewish black hindu law, like ok white man can not take 1 more minute of bullshit/ there will be massive amounts of killing

try 0.05 cents
pepper steaklets

They did not, and the United States wont have it by 2030. If you extrapolate the debt growth and tax receipt growth, by 2030 the interest on the debt will be 40% of tax receipts. Thats end game.

shit will hit the fan thats for sure

Recession doesn't exist when you have a 5 year government contract and thousands of stinkies. That's something for poorfags to worry about.

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>how bad

watch Gregory Mannerino to get an idea of how bad

but we've got until 2021 I'd say, that's when hyperinflation will start happening

I will also add, with central bank cryptocurrencies imminent, why is the SWIFT system needed anymore if every country will have an easily transferred currency? Especially considering the United States has been weaponizng the SWIFT system and using it for sanctions

We'll just print more money.

you didn’t think the banker boomers would just let you get rich without a fight, did you?

How will other countries feel that their savings in US treasuries is being devalued? The United States is a debtor to the world.

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the only way you can collect on a debt is by kicking the interest can down the road, or a war. it is more likely that the USA will go apeshit and start a war with everyone than hyperinflation. any ‘reset’ will be used to impoverish us even further

Psssssst its not debt. Thats foreigners owning more american assets than americans owning foreign assets. Furthermore, if you refuse to make treasuries money good, your status is reserve currency is immediately ended.

Government checks won't stop flowing. They'll scale back the unemployment, then within two months bring it back to 600, then raise it. Republicans are pretending to resist it but they will cede to the socialist state rather than get kicked out of government.

so now you have to at least speculate on who the new reserve currency would be from. China is essentially the only real competitor, and I don’t see that happening without the whole world getting nuked

There wont be a new reserve currency. THe only reason USD is reserve is because America had all the gold at the end of WW2. When it was depegged SWIFT was created and the ease of transferring value meant that the USD was used for international trade. Now central banks are launching their own cryptos. These will be money easily sent everywhere with deep liquid FX markets. A better question, is why is a reserve currency necessary anymore? Why do england and spain need to transact in dollars?

>better question, is why is a reserve currency necessary anymore? Why do england and spain need to transact in dollars

so the banker families can own every country in the world with a central bank, play both sides, control cash flows...I’m not saying that you’re wrong either, I just can’t imagine this to be a bloodless affair

When your citizens are revolting because american inflation is being exported to your country, it kindve forces a change. We are headed to a multipolar world.

Ok, then explain what happened in 1973 when the US went off the gold standard effectively giving its creditors a big fat fuck you.

SWIFT was launched and made it easy to have global commerce without shipping gold bars around

And the USD remained the reserve currency. Your view lacks nuance.

they only did so when Saudis promised to sell oil only for dollars

Because you needed USD for international trade. This isnt necessary anymore. Coupled with the fact that by 2030 the US will be printing the interest on the debt, its end game time

It's just a number at this point

This guy knows.