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I had to stop listening around the 3 minute mark because he just kept saying same thing over and over.
Does anyone else see an economic crash coming?
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I had to stop listening around the 3 minute mark because he just kept saying same thing over and over.
Just so everyone is aware of where this economy is headed; My husband works for one of the largest tech companies in the world. They just laid off a lot of people. This is the second round of layoffs since last year. Rumor has it (so take it as such) that the owner of this company, told a major client that they are not done with the layoffs. More will be coming this year.
This isn't a bunch of $20 an hour factory jobs. These are $100-$200k+ jobs.
My husband was shocked and a little depressed when a woman he has worked with and has a great deal of respect for, handed him her PB&J sandwich the other day saying she had lost her appetite along with her job. She had been with them for 30 years and was very good at her job. She was also the breadwinner for her family.
Things are heading south folks!
This isn't a bunch of $20 an hour factory jobs. These are $100-$200k+ jobs.
My husband was shocked and a little depressed when a woman he has worked with and has a great deal of respect for, handed him her PB&J sandwich the other day saying she had lost her appetite along with her job. She had been with them for 30 years and was very good at her job. She was also the breadwinner for her family.
Things are heading south folks!
In fairness to the hospital (and you all know I am pretty anti-Rockafeller medicine), I don't know what else they are supposed to do when a homeless patient either been treated, stabilized, or a medical emergency is ruled out. If the hospital allowed every homeless person to be admitted after they were stabilized because they had no place to go, they would have no ability to treat the sick. Unfortunately in a lot of these impoverished cities, they will fake complaints to get out of the cold for awhile. And while I don't blame them, it's also not fair to a sick child who can't get a bed because the hospital is taken up by homeless.
I wholeheartedly believe that there are many homeless folks who are simply down on their luck. I also wholeheartedly believe that isn't the majority.
Are those jobs being replaced with AI? Just curious. I handle a lot of clients who worked for large corp's. and hearing similar stories but mostly due to aging out...those who've been employees 25+ years, and especially 30+ are encouraged to retire or jobs are phased out altogether.
Almost every office job could be made superfluous by AI in the future, if AI prevails, thousands will lose their jobs regardless of the danger that AI poses to humanity.
Of course, the only ones who will and can still keep their office jobs are our politicians, but they have nothing for us anyway.
Of course, the only ones who will and can still keep their office jobs are our politicians, but they have nothing for us anyway.
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Politicians have no intelligence!
No. The job is management/direct customer relations that an AI can't do (yet). What it comes down to is that because she has been with the company so long, she has a high salary and they think they can allocate parts of her job amongst younger lower paid workers. Without them having to pay those workers more.
--- This is a video on the world food crisis . As bad as the food problem may be in some countries , this actually is the optimistic view as next week the volatile side of the sun will be positioned to once again get the opportunity to hit earth with a CME and perhaps beat Putin to detonating his EMP . Interesting times we live in for the prepared , horrifying times for those that didn't .
I can see a lot more than just office workers losing their jobs in the near future due to AI. Engineers; computer, architectural, civil...programmers, journalists, writers, even doctors...it reminds me of that movie Wal-E, where eventually we are all a bunch of immobile people being served on hand and foot by machines. All we will do is consume, while the machines run the economy and even the government, if some had their way.
The US is facing a debt storm. Here's 5 charts that show trouble is brewing.
https://www.yahoo.com/finance/news/us-facing-debt-storm-heres-201501407.html
Private debt levels are rising at a staggering pace
Private debt levels are building fast, and hit new records this year. Credit card debt just passed $1 trillion for the first time ever, according to Federal Reserve data.Credit card debt hit $1 trillion for the first time ever.DataTrek Research
Personal unsecured loans also hit a new record, notching an unprecedented $225 billion in 2023, according to TransUnion. Ditto for corporate debt, which saw volumes grow 6.2% over the last year to hit $7.8 trillion, per Janus Henderson.
The public debt picture looks even worse. The national debt balance blew past $32 trillion for first time this year, with the potential for $5 billion to be added each day for the next 10 years, according to Bank of America.
Corporate defaults are surging
Companies have begun to buckle under their debt burdens as rates rise, with the volume of defaults among US companies in 2023 already surpassing last year's total. 55 US firms defaulted on their debt in the first six months of the year – a 53% increase from the 36 companies that defaulted in 2022, Moody's Investors Service data shows.Late payments are piling up
In the commercial real estate sector, the percentage of commercial property owners that were late on payment for 30 days or more–or have already defaulted on their mortgages–rose to 3% in the first quarter this year, according to data from the Mortgage Bankers Association, reversing a preexisting downward trend. This is reflected in the rising rate of delinquencies on loans securing commercial mortgage bonds, which have been on the rise this year.The delinquency rate for commercial property owners rose to 3% in the first quarter of 2023.Mortgage Bankers Association
Meanwhile, the delinquency rate for all personal loans rose to 2.23% in the first quarter this year, up from just 1.7% in the first quarter of 2021, Fed data shows.
Banks want to dump risky debt
Banks are already trying to dump loans that have a greater risk of default, even if it means selling those assets at a discount. That spells trouble for the commercial real estate industry, as there's around $1.5 trillion of CRE debt that's set to reach maturity in the coming years, and will need to be refinanced.Property owners could run into trouble when they go to refinance their mortgages as rates are higher and property valuations have been falling. Earlier this year, Morgan Stanley noted that the credit crunch had arrived as banks recorded the sharpest decline in lending on record.
Bidenomics
My concern with AI is that as technology advances and "machine learning" becomes the norm, there are less and less who understand it all enough to fight against some of the problems with it.
Eventually, I see those of us who are not skilled in tech to be second class citizens who are subservient to those who are.
Eventually, I see those of us who are not skilled in tech to be second class citizens who are subservient to those who are.
If governments and business here give the green light for AI and actively use AI, you will open a Pandora's box that you will never be able to close and give the people the nail in their coffin.
AI will be another piece of the puzzle in the great reset and many will lose their jobs as a result.
As the WEF said, then give the unemployed drugs and games and some basic income and it's all settled.
But the basic income will not be enough for anything and the population will become impoverished, the next step is then, as the Canadian despot Trudeau introduced, active free euthanasia for the sick and people who no longer want to live.
The bottom layer that no longer has a job will be forced to die with dirty means, for example with a promise "if you leave, your children will receive a lot of money from the state" but the children will also no longer be able to find a job.
There are only two ways to counteract this, you have to prevent the use of AI by all means and force the state to ban AI in business if the state refuses, the last resort is to emigrate as long as you can.
With AI you become part of a matrix, registered, chipped and, so to speak, monitored with an invisible ankle bracelet, you will no longer be able to flee the country because the guards will always have you on the radar if you move where you are not allowed.
You can say I'm a doomsayer, that's possible, but Corona and the surveillance at that time, which is still active, taught me that with AI, every person is monitored and enslaved in a different way, you become more and more active for the guards everywhere to be located.
AI will be another piece of the puzzle in the great reset and many will lose their jobs as a result.
As the WEF said, then give the unemployed drugs and games and some basic income and it's all settled.
But the basic income will not be enough for anything and the population will become impoverished, the next step is then, as the Canadian despot Trudeau introduced, active free euthanasia for the sick and people who no longer want to live.
The bottom layer that no longer has a job will be forced to die with dirty means, for example with a promise "if you leave, your children will receive a lot of money from the state" but the children will also no longer be able to find a job.
There are only two ways to counteract this, you have to prevent the use of AI by all means and force the state to ban AI in business if the state refuses, the last resort is to emigrate as long as you can.
With AI you become part of a matrix, registered, chipped and, so to speak, monitored with an invisible ankle bracelet, you will no longer be able to flee the country because the guards will always have you on the radar if you move where you are not allowed.
You can say I'm a doomsayer, that's possible, but Corona and the surveillance at that time, which is still active, taught me that with AI, every person is monitored and enslaved in a different way, you become more and more active for the guards everywhere to be located.
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AI does have one advantage, it's smarter than most fast food employees.
When I am out at the BOL, I don't have internet access or even reliable phone service (I have to walk about 1/4 mile to this one spot). It doesn't bother me except for two things. One, if I get seriously injured, I'm messed. Two, if I need to find supplies or price something out, it is a PITA. Otherwise, I really don't miss it.
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BOL1 coverage is sketchy at best. Many years ago, I'm talking about decades ago, Sprint worked reliably there. Verizon used to work but doesn't anymore. AT&T works sometimes. The only halfway reliable service is a local mobile phone company with their own towers, the nearest one about half the distance than the major phone company towers.
BOL2 on the other hand has full coverage from all providers due to the fact that the towers are on hilltops and BOL2 itself is on high ground. I get better reception at BOL2 than I do at home.
Here is a link for those that like to stay informed .
Just thought I would mention on the link from my previous post , the accountant revealed those bank guarantees for peoples deposits . In reality the government has only has about 1 percent of the money put back to actually be able to guarantee everyone's deposits in the banks . This might interest those that choose to believe society will be still functioning and banks , stores and such will be still operating and everything will be lovely .
True or not , I can not say , but one report coming in big retail stores like Wal-Mart or canceling orders as their crystal ball predicts , people just aren't going to have money to spend on the high priced items in the coming months .
--- Here is a video on life in the united states since the communist coup . In societies middle are the un-prepared that are so for managing to keep their homes by sheer luck . On top of the heap or preppers that are perhaps falling back on their survival / prepper plans and still have home and food and ready for furthering of the descent of society , referred to by some as " the quickening " .
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Friend of me was in California for holidays end of last year and he seriously got shocked about how many people was living in tents and RV's. Partly he wasn't sure anymore if he's in an rich industrial country or somewhere in third world country slums.
--- Since the communist political coup here in the United States , this is what is unfolding . When " all " the stores are closed in any area , guess where the next target will be for the hoards of thieves , yep the preppers , including their gardens and livestock .
--- This is a video on the collapse . This presentation will likely be not new news to anyone , but only stands to confirm the collapse . At this point this thread's title " --- an economic crash coming " could be converted to simply " the crash is here ". Most of us though would disagree with the video makers proclamation that the collapse was caused by the Covid attack , but realize the cause goes much deeper than that . Anyway the video shows the worsening plight and the wisdom of those that have prepared for this .
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--- Here is a video on some of the towns I travel through whenever going to my old haunts . " Proud Prepper "may be using the same route traveling between his bug out locations , but there are two likely routes for him . That may explain some of our bleak outlooks on America .
--- As bad as it may appear , we all know it is worsening under Bideonomics as people find buying gasoline for a lawnmower " if they are rich enough to own one " is a monetary sacrifice . Certainly building supplies for home maintenance is out of reach for many .
--- Folks happy to live in a desert with things scrounged from a dump " our United States under Communism " .
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LOL an "extreme poverty" video showing people who own homes and cars and have plenty to eat and are happy with their lives. No homeless camps, no fentynol addicts in the sidewalks, just some houses that need some repair.
I know Belzoni very well and have been there hundreds if not thousands of times. My brother in law is a dentist in Belzoni. (my dental plan LOL)
Belzoni is the quintessential "Mississippi Cotton Pickin' Delta Town."
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--- Here is what the murder capitol of the world looks like today " or perhaps worse " . I have been there and had a woman that had a black eye that obviously had been beaten and probably ***** .helped me get my white family out of the area and back to safety .
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"Jackson is bad"
Depends on which part of town you are talking about. After decades of Democrat control it is not like it used to be. Except for NE Jackson (north of and including the Belhaven neighborhood, and east of I-55) which is kind of like a bubble. Take a drive down Eastover some time. I grew up just outside of the Eastover neighborhood, my father said we lived in "Leftover" LOL. It's still just like it was 60 years ago. My sister bought my parents house and still lives there. Another sister lives in the gated "Sherwood Forest" neighborhood. Not quite as affluent as Eastover though. My grandmother lived in the Belhaven neighborhood.
Cross the city limits in any direction and it's a whole different world. Clinton, Madison/Ridgeland, Brandon, Pearl, Byram, Flowood...all great places to live. I have an aunt in Clinton, a sister in Madison, and I worked in Flowood. I know Jackson.
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Your friend was correct. It doesnt matter How big or small the city is. This is what you see all over the state.
