The dollar is heading for its worst year since 1973, falling more than 10% year-to-date while nearly every other major asset class explodes upward. Just last night, Bitcoin hit a new all-time high of $125,000, pushing its total market value to $2.5 trillion, as Cryptopolitan reported. Gold is now close to $4,000 an ounce after […]
  • djsoren19@lemmy.blahaj.zoneEnglish
    26·
    5 months ago

    so far.

    All numbers point to an upcoming U.S. recession that’ll be close to on par with the Great Depression. It’s going to get worse.

    • UnderpantsWeevil@lemmy.worldEnglish
      10·
      5 months ago

      Recessions are generally good for the dollar, as they signal lower rates of lending and of monetary circulation.

      But because so much of our economy is predicated on a payout on magic beans AI build out, we could actually see ourselves awash in cheap cash with nothing materially valuable to spend it on at some point in the near future. All our material capital tied up in enormous data centers that do nothing but devour electricity. Fewer and fewer people willing to trade with a nation whose primary exports are bizarro TikTok videos and arms to Israel.

      Stagflation rides again.

      • chisel@piefed.socialEnglish
        4·
        5 months ago

        Oh, oh, I know! Caravans eating pets and taking our jobs! No, no, wait, the Gulf of Mexico! Err, foreign goods being too cheap! Oh, um, the poors ruining everything for everyone! People getting vaccines or seeing a doctor without going bankrupt! Women in sports! Yes, that must be it!