the impending financial crisis

[jawn galliano]

what's your plan

i ain't got one other than hope i don't get laid off

[zim]

is something actually about to happen or is it just more doomsday speculating

[Noyka]

Recession stuff basically

[jawn galliano]

is something actually about to happen or is it just more doomsday speculating

shit's about to go down. europe gets the worst of it, but contagion will hit here hard. coupled with a global real-economy crisis.

we're currently on borrowed time

[vO)))id]

This is absolutely real.

[shadowalk]

Over here, anti-government groups are twisting this global financial crisis by saying it's all the fault of the government. Third-world country problems

Fortunately, I don't have any external responsibilities and all that I'm responsible for is my well-being and my possessions. I just plan to stick it out and hold on to what I have.

[zim]

man i'm not sure what i would do if i actually lost my job. i've got enough savings to cover my cost of living for a few years but the thought of having to find another job in my field doesn't seem fun. also i would probably consider living in a cave before i went back into manual labor

[zim]

speaking of inflation bullshit, spent over $100 at the store last night and feel like i came home with nothing

[vO)))id]

My country is at 17,3% inflation now........... let that sink in.

[shadowalk]

[User]

i am gonna ask for a raise in november

[Noyka]

My country is at 17,3% inflation now........... let that sink in.

My god we are dying at 8.2 i couldnt imagine

[Grudge]

what's your plan

I'm one of the idiots who invested in the stock market heavily when it went down by 50% from it's highs in November last year, but didn't anticipate that it would crater a further 50% from the point when I invested. So the majority of my savings are tied up there which I can't sell without incurring a huge loss. And they are likely not going to recover for another 1.5 years. I just bought a new expensive house with high mortgage payments, so my situation is quite precarious.

I've begun interviewing at other companies for safety. But also looking for an opportunity to increase my salary plain and simple through these interviews.

[User]

don't forget to mention you're a committed marxist

[Grudge]

I don't live in a Marxist society, nor am I a member of the working class. I do what I have to to get ahead and not suffer while doing whatever is within my abilities to contribute to Marxism.

[jawn galliano]

that sucks. my 401k is mostly allocated in stocks and it's probably going to be worthless in 3 months. i hope your portfolio doesn't have too much euro industrial exposure!

anyone with a big appetite for risk, i think shorting the BNPL firms like afterpay is going to be a big moneymaker. i have no idea how that business model survives in a high interest rate environment with the coming credit contraction & destruction of consumer demand.

[User]

i am thinking of buying a condominium here in thailand since my savings are nearly back to pre-covid levels (only took three years, what a waste)

as a foreigner, owning land here is super complicated but condo is legal and easy

i would only do it as a way to park my money with more security, no intention to live in thailand forever and investment talk makes me nauseous and sickens me. too many friends had kids, became upper middle class and just want to talk about shares and investments, totally detached from a meaningful life and what money really is

[jawn galliano]

oh i remember your pal in london that first night was very big into shares! some very suspect ones too, i vaguely recall

i am often fascinated by the whole world of business & finance & investing, but i still choose not to participate. my friends all think i am insane, and they are correct

[User]

it is indeed fascinating i am reading this at the moment: https://www.nebraskapress.unl.edu/nebra ... 496214560/

literally a lesson in how far removed you can get from the material world. it makes me sad

[jawn galliano]

PE is a shambling sadness-creation engine and its practitioners should be banished from the planet in a great public spectacle

that looks like an interesting one, i might have to pick it up once i finish off a few others

[User]

did you read mccoy yet ?

[jawn galliano]

no i have been very delinquent in my reading habits since finishing devil's chessboard

i need to snap out of it because new cormac mccarthy novel in like 2 weeks

[User]

i wish i could have followed on your blazing trail this last year though, you have read a bunch of cool shit

[deckard]

well i think my job is ok but i am going to attempt to never use my heating this winter, i may die.

[vO)))id]

Also not using our heater and showering with just cold water.
No factor.

[User]

fuck that shit

[vO)))id]

Well, I can't pay for it so...

[Methuselah Honeysuckle]

Managing a luxury car parts department should get real interesting

[User]

you're gonna have the time of your life

[shadowalk]

As long as you have a decent paying job and you don't have kids and/or other obligations to sustain, you should be good.

[Grudge]

Managing a luxury car parts department should get real interesting

Luxury goods and services tend to be resilient during recessionary periods. So you might end up doing better than most.

[Methuselah Honeysuckle]

We aren't located in the most affluent area like some of the others in my brand are. We are more or less right in the middle of the state though. I guess we'll find out the hard way.

[User]

with your resilience and willingness to work long hours i reckon you'll be right

[jawn galliano]

the benz class won't be hit hard in terms of layoffs, though their 401ks will suffer greatly

[Methuselah Honeysuckle]

with your resilience and willingness to work long hours i reckon you'll be right

This is my 7th 6 week day in a row