A global recession is on the horizon - please read OP for mod warning

EOQRTL · 02-08-2022 10:01pm

https://www.boards.ie/discussion/comment/119419289#Comment_119419289

I'll stick to my 2008 Hyundai and continue to put my savings into investments.

02-08-2022 10:27pm

https://www.boards.ie/discussion/comment/119421375#Comment_119421375

I created number of products on niche markets which let me not use my incomes at the moment.More,the less incomes people has the more my products I selling.So this recession will be perfect for me,I was doing very well during COVID .I have patents for all products created and I can sell them to factories which will produce them and I will just make distribution.

Next,I saved enough money to buy property for cash when recession will come.

So combo of mortgage free life plus incomes from additional income will be my pension.

Once I will buy my property I will start invest everything I earn to my kids. Education and kids is best investment.Hope they will be part of my pension.

I was thinking about investing to Bitcoin,ETFs,shares and I spoke with some of my Friends which told my not put money to things I don't understand.I know this system and manipulations and I think I have so much money just because I didn't invested them.Other words I didn't earn anything investing but I didn't loose anything.

03-08-2022 7:25am

https://www.cnbc.com/2022/08/02/4point2-million-people-quit-in-june-despite-recession-worries.html

Step by step

Sweet.Science · 03-08-2022 8:12am

https://www.boards.ie/discussion/comment/119421614#Comment_119421614

Ah ha . I was wondering that your angle was this whole time. But you are financially invested in other people's misery.

03-08-2022 8:50am

https://www.boards.ie/discussion/comment/119422310#Comment_119422310

When I was 30 I was believing every single word coming from financial "anal" itics and banks loudspeakers.Listening them I bought property which are still -25 per cent from price I paid in 2007.

In 2008-2011 I saw people which lost everything, businesses, families,lifes,kids future.Which lost everything because was listening bonkers lies and took them as truth.The lies which is full of in today media !

Since that day I stopped believe a single word coming from financial media,bonkers and "anal" itics.I started think opposite and listen opinion of opposite side and I found that truth is on opposite side.I started looking to sides when before I was looking only straight.

They all want our money but I not gonna give my money to them this time.Might be I will loose some but I will not loose my freedom and my last money.

snotboogie · 03-08-2022 9:53am

Defeatist headlines arguing that Russia’s economy has bounced back are simply not factual – the facts are that, by any metric and on any level, the Russian economy is reeling, says report

https://www.marketwatch.com/story/far-from-putins-claims-of-resilience-russian-economy-is-being-hammered-by-sanctions-and-exodus-of-international-companies-yale-report-finds-11659377317

Economic carnage in Russia as a result of their war of aggression in Ukraine.

brickster69 · 03-08-2022 10:05am

The Chinese battery company CATL halts the opening of its plant in the North America. The $5 billion plant was intended to supply batteries for Tesla and Ford and create 10K jobs.

This joins two Chinese suppliers that have suspended their shipments to Apple. Apple is expected to diversify its MacBook production in China to avoid placing all the eggs in one basket.

03-08-2022 10:40am

Reading media I found very strange things.Once some country starting have tensions with USA the Bloomberg, Reuters,The Telegraph immediately starting writing about this country falling economy, corruption and "regime".When is no tensions same media telling about this country growing economy,the best place to invest,democracy and etc

Yes, Russia surely has problems with economy and sanctions but all this media narrative starting smell some political games for locals.Like folks, let's keep paying high bills,we need just wait a little bit and Russia will be collapse! Just little bit folks,just keep calm, don't go to shower,find more fire wood,we doing right !

Look how quickly disappeared headlines about war on Ukraine from first pages ! There is no more shortage of wheat, you know that ? All disappeared! The only inflation and gas left !

You remember how media was talking about PIGS debts ? EU will collapse if Greece will not pay the part to creditors untill 24.00 tonight !

You know what folks,we will have gas and cheap oil this winter no bother ! The both Nord Streams will be work at full power . Possible Scholz government in Germany will be end them days but I am sure everything will be opposite what media talking about! Because media B.s never was truth! Only the s.. which people liked pay for !

Every Sunday I see my neighbor coming with pack of media toilet paper from service station.And he believe to every single word in it !

snotboogie · 03-08-2022 10:52am

The figures out of Russia are simply astounding:

The inflation picture for sectors that depend on international supply chains is even more grim at 40% to 60% and that’s impacting a swath of key industries. The report describes how some Russian manufacturers are resorting to cannibalizing and recycling parts, and cites U.S. Commerce Secretary Gina Raimondo as saying Ukrainians are finding Russian military equipment filled with semiconductors that have been removed from dishwashers and fridges.

The retreat of so many businesses has cost the country about 40% of its GDP, reversing nearly three decades of foreign investment.

Russia’s domestic financial markets are the worst performing in the whole world this year and that’s despite strict capital controls. At the same time, it’s cut off from accessing global capital markets to revitalize its economy.

A 40% drop in GDP! 40%!! For context the “winter of discontent” in Germany is predicted to have 3% decline in GDP at worst.

Wanderer78 · 03-08-2022 11:08am

https://www.boards.ie/discussion/comment/119422398#Comment_119422398

...or maybe you should educate yourself to the best of your abilities, listening to as many opinions as possible, then making the best decisions from this information, not everything is lies, just some opinions are wrong, or poorly made, based on flawed thinking and ideas. humans have a tendency towards fantasy and flawed thinking, and you d be surprised how out of hand this can get, i.e. pre 08, when many got caught up into thinking property prices can never fall, most of us got caught out by this blind spot in human behavior, yes some knew this was a scam, some even done their bit to keep it going, for personal gain, but most of us ignored this information. a lot of the behaviors were actually unintentional, its just that blind spot with us humans, this will happen again, it regularly does, cryptos are another perfect example of this, this will continue to occur, its always good to be aware of this blind spot, and try not to get too carried away in get rich quick schemes, and remember, 'if it sounds too good to be true.....'

oh and theres no such thing as freedom on this planet, as all humans live within limits, even the very wealthy.....

ELM327 · 03-08-2022 11:23am

https://www.boards.ie/discussion/comment/119419289#Comment_119419289

If no one pays 50k for a car there will be no 5k cars for you.

youngblood · 03-08-2022 12:06pm

Are they recession proofing also?

https://www.forbes.com/sites/marisadellatto/2022/08/02/warner-bros-cans-batgirl/

Film studios never pull a film that far along even when its "irredeemable"

Yurt2 · 03-08-2022 12:37pm

https://www.boards.ie/discussion/comment/119422608#Comment_119422608

But, but the mens on Twitter say rouble stronk.

You know they saying: "Stronk rouble, stronk economy"

I economist. Pravda.

Darth Putin · 03-08-2022 12:37pm

https://www.boards.ie/discussion/comment/119421375#Comment_119421375

A nice dacha in occupied Ukraine on land stolen from previous owners

Darth Putin · 03-08-2022 12:41pm

https://www.boards.ie/discussion/comment/119422791#Comment_119422791

14% gdp drop is double what we had in 2008

To claim Russia is doing well while in previous post claim the west is doing bad and posting a headline about record low unemployment as “proof” is some sort of extreme psychological dissonance

03-08-2022 12:49pm

https://www.boards.ie/discussion/comment/119423340#Comment_119423340

Source were this been calculated please.Thank you

03-08-2022 12:50pm

https://www.boards.ie/discussion/comment/119422845#Comment_119422845

Source were this been calculated please.Thank you

If this drop would happen rubble wouldn't be one of the strongest currencies in the world.

https://www.theguardian.com/commentisfree/2022/jul/29/putin-ruble-west-sanctions-russia-europe

In case if you missed

Darth Putin · 03-08-2022 1:50pm

https://www.boards.ie/discussion/comment/119423372#Comment_119423372

one can not acquire rouble outside of Russia, and for that matter exchange within Russia is illegal now

it’s a North Korean currency with a fictitious value, so financially illiterates like yourself can wax lyrical

03-08-2022 1:52pm

https://www.boards.ie/discussion/comment/119423665#Comment_119423665

Unfortunately gas can be bought for rubbles Only same as wheat and oil and more on way.Rubbles are used all way around the world ,India and China buying oil and gas for rubbles same as USA buying Russian oil for rublles.Very soon USA will pay for rockets engines made in Russia for rubbles too.Same as Germany and France pay to Russia in rubbles.

Darth Putin · 03-08-2022 1:58pm

https://www.boards.ie/discussion/comment/119423683#Comment_119423683

Except there is NOWHERE one can exchange any normal currency for ruble

gazprom is getting paid in euros

your posts are a prime example why Russians are so poor despite having so many resources, financial illiteracy and brainwashing leads to suboptimal life outcomes

you spent pages and pages moaning about us Irish, downright insulting at times, yet somehow the average person in this country is 10x richer than average Russian (3x smaller economy than Russia but 30x smaller population)

Yurt2 · 03-08-2022 2:01pm

Lol. Stronk rouble.

Tankies really are dumb as sh*t

Barney Rubbles. Is this Russian's take on the Cuban convertible Peso? Much stronk, real currency. I is economist master.

GDP mean nyet. When rubble stronk it mean economy stronk. Please ignore collapsed economy.

03-08-2022 2:12pm

https://www.boards.ie/discussion/comment/119423751#Comment_119423751

Same as new Definition of Recession.

Yurt2 · 03-08-2022 2:15pm

https://www.boards.ie/discussion/comment/119423825#Comment_119423825

Not really. Because Russian economic output is dropping like a stone (and concomitantly GDP), the country is haemorrhaging people, and the youth is getting kerbstomped and sent back to the mother land in body bags by the tens of thousands.

But Rubble stronk. Absolute idiocy, but do keep it up. When the full collapse comes we'll all be here to mock you so badly you'll never want to visit boards.ie again, never mind log in and post.

AdamD · 03-08-2022 2:22pm

Show me where I can exchange my money for Rubles?

The exchange rate is utter nonsense, it doesn't exists, there is no market. Russia is economically screwed, the main difference is that their leader doesn't have to care about the welfare of his people.

rob316 · 03-08-2022 2:33pm

Putin doesn't give a toss about the economy, he's arguably the richest man in the world, his closest supporters are stinking rich and the population is afraid to rise up against him.

timmyntc · 03-08-2022 2:56pm

Can ye keep all the russia crap in the russia thread(s)?

Its the new covid shite spilling over into every thread

03-08-2022 4:39pm

https://www.independent.ie/business/spike-in-sme-distress-as-post-covid-reality-hits-41886114.html

Zombinomics end.

https://www.irishtimes.com/business/economy/2022/08/03/record-tax-receipts-deliver-5bn-surplus-for-government/

Let's wait until Christmas and then see his smile again.

Allinall · 03-08-2022 4:42pm

https://www.boards.ie/discussion/comment/119424534#Comment_119424534

Any (non essential) business that can't run without subsidies should not be there in the first place.

Nothing to do with a recession.

03-08-2022 4:44pm

https://www.boards.ie/discussion/comment/119424545#Comment_119424545

Recession started Before COVID and now you could see it .

rob316 · 03-08-2022 4:55pm

When your overheads are covered by the taxpayer its surprisingly easy to make a **** business viable. People even started up during Covid because they thought **** it I can trade for free and warehouse all my tax which will probably be written off anyway.

A global recession is on the horizon - please read OP for mod warning

Comments

Defeatist headlines arguing that Russia’s economy has bounced back are simply not factual – the facts are that, by any metric and on any level, the Russian economy is reeling, says report