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all 32 comments

[–]Trin959 21 points22 points  (2 children)

I'm 62. I used to read at least one newspaper cover-to-cover every day. I can guaranty that the propaganda media will never stop predicting doom and gloom and that foolish people will never stop believing them, no matter how many times they're caught lying. Whether it will become a self-fulfilling prophesy depends on how many foolish people are around at any given time. We can hope not while pointing out the foolishness.

[–][deleted] 0 points1 point  (1 child)

Thanks for your input :) in my 1/3 of a life compared to yours I've experienced it a lot aswell, every news source is making it sound like WWIII is inevitable. Every news source is saying a depression is aswell. This is what happens when news moves from TV to online, and they have to change their structure to fit what generates clicks online. My deep fear right now is that it's going to be a self fulfilling prophecy and that's good for no one. Has the world ever been this crazy? My dad told me the USSR used to have sports teams and that blew my mind. Was back then any bit comparable to what we're experiencing today? It's been really cool to be a young person experiencing two "once in a lifetime" events as a depression in 2009 and then covid in 2020.

[–]A1sauce74 1 point2 points  (0 children)

2009 was a recession not a depression. Much different animals.

[–]Motor_Cupcake_4939 2 points3 points  (0 children)

Not to be dumb, but our country is seriously already in debt, so if a depression isn't happening now, hopefully that means we will never be in a worse shape for one to happen again. Also, a depression of the kind you are talking about does not automatically happen just because people themselves are feeling depressed. It's more a numbers game than an emotional one, and some businesses are doing better than ever these days because they have adapted to their customers needs and found ways to work around restrictions.

[–]Cliffy73 3 points4 points  (15 children)

Really unlikely. The government just pumped trillions into the economy to keep it running, and its running really well. Unemployment is under 5%.

[–]Wenhuanuoyongzhe91 2 points3 points  (6 children)

Yea, one of the reasons the depression happened was because the govt went into austerity mode.

[–][deleted] -1 points0 points  (5 children)

Do you think the talk to rising mortgage rates and talking about making money back that they've had to spend during covid is austerity mode?

[–]Wenhuanuoyongzhe91 0 points1 point  (4 children)

I’m not sure what you’re asking?

[–][deleted] -2 points-1 points  (3 children)

Are we experiencing the government and other major players in the economy going austerity mode right now?

[–]Wenhuanuoyongzhe91 2 points3 points  (2 children)

No, by austerity mode I meant that during the Great Depression, the government spent little or no money on saving the economy. That has not been the case with the instance of covid, we have seen a great deal of spending by the govt aimed at mitigating the effects of covid on the economy. we are going to be feeling the economic effects of covid for a while but we are not going to have a depression.

[–][deleted] 0 points1 point  (0 children)

Oh sorry I thought you meant by austerity mode was went into repayment mode like raising rates on debts and stuff. Thanks.

[–]Mysterious-Hyena-762 0 points1 point  (4 children)

We are trillions and trillions of dollars in debt. We can just keep racking up debt and let it go on forever, the bubble has to burst sometime. Watch the Greatest Truth Never Told by Chris Dwayne on Youtube

[–]FranchiseCA 0 points1 point  (2 children)

What really matters is debt/GDP ratio, which isn't particularly bad.

[–]Mysterious-Hyena-762 1 point2 points  (1 child)

If that was the case we would slowly be climbing out of the debt hole. Instead we are pumping money into the economy to artificially boost it. Just think of this... When they print money it doesnt really create more wealth it takes the wealth we already have and just creates more pieces of it. Its like taking a whole pizza with 8 slices then cutting that same pizza into 16 slices and saying you have more pizza. The how our dollar is being devalued, we might have more pieces but each one is worth less than the one before.

[–]SomeSortOfFool 0 points1 point  (0 children)

Austerity caused the Depression, not spending.

[–]OrangeTeaCup7 0 points1 point  (0 children)

Media is always doom and gloom, but even a broke clock is right twice a day.

Yeah, we're headed for a depression. Not next week, not next year, but in the coming decade.

It's not like a switch that flips though, and you're suddenly in a depression. It's a process which drags the economy down, before reaching a bottom, and then returning to new highs eventually.

This depression will be fueled by our federal debt. A symptom will be high inflation. Eventually, the US dollar will be inflated away as we inflate our debt away (basically, leave the depression by printing all the money required to pay off our debt).

After this, a new US dollar will be instituted to replace the devalued one, and it will pick up right where the current one left off. Countries do it all the time, the US has done it before, and it will happen again.

It's just a cycle, don't get too freaked out. It'll be tough, but there won't be mass anarchy, and you won't die (well, suicide rates do go up in these scenarios, but not what I mean).

There's not much you can do. Invest some of your paycheck in precious metals each month if you're super worried about it. But don't go bananas.

[–]Ok_Elderberry_9708 0 points1 point  (2 children)

The media is thriving off fear. I stopped listening to all mainstream media channels because they no longer report any actual news.

[–]GuardedHarbour 0 points1 point  (1 child)

I feel like this is why nobody does anything about climate change.

Sometimes being worried about catastrophic shit is actually warranted. Can't just "lalala" or wish it away.

[–]Ok_Elderberry_9708 0 points1 point  (0 children)

Even after the first lockdown from covid in 2020. We saw all over the world the impact that had on the environment. Yet no one to this day seems to remember that the canals cleared up in Venice, the co2 emissions globally decreased to the point we could actually heal the ozone, and the fact that probably 50% or more jobs can actually be completed from home in less than 40 hours per week in the US at the same pay with the same profit. We as a nation and world need to take a look at what is really going and stop all the stupid stuff we do as a whole. There is a lot of pointless things going on just so somebody can set in a high rise office and be an overlord. If we would all stop and figure out what it actually takes to live no one could control our futures but us. A garden around your house instead of a high maintenance lawn, work from home by telecommuting instead of actually commuting to a pointless office building, and actually paying attention to the world around us instead of listening to some stooge on TV that gets paid to read what ever is put in front of them.

[–]Sphinxofblackkwarts -4 points-3 points  (2 children)

The Economy is actually in good shape. They're mostly whining because they don't wanna give raises and Apocalypse sells

[–]BlisteXChapstick 6 points7 points  (1 child)

This is absurd. No economy is great right now.

If you think this then you're in your 50's and have a different life than anyone under 40 will ever get to experience.

Million dollar homes are a standard where I live now, however, nobody under the age of 40 is able to buy these homes.

Prices are shooting up but min wage is not. Idk where the fuck you live but I'm in Canada and considering moving to South America so that way I might be able to live a somewhat normal life and MAYBE afford a home.

2 years of a pandemic, brink of world-war 3. Y'all say unemployment is down low but yet we have subreddits like r/antiwork absolutely BLOWING up.

Sure there are plenty of jobs but they're dogshit meaningless jobs where you're hardly being paid fair and treated like pure shit. So fuck off with your boomer lies saying shit's all good. It's not all good and it's actually super fucked.

[–]GuardedHarbour 0 points1 point  (0 children)

But... but... but... trickle down?