Is the global economy is going to shit?

[7thLetter]

I don't often see any threads talking about the future of the global economy, so I'd like to share two Youtube channels that I watch often which talk about the dark truths of where we're headed. Although, they mainly talk about the US economy specifically.

I truly believe that this idea that the "economy will be back to normal, we're going to see a V-shaped recovery, the government has our back" is a false narrative and we're in for a rude awakening.

Anyways, I'm not the one making these claims and I'm not here to have some sort of political debate. I'm just here to share these Youtube channels, feel free to share your thoughts. If you find value in these channels all we can do for ourselves is to prepare.

 

 

[aurum]

@7thLetter

I certainly wouldn't say it looks pretty. There are many problems that I've talked about at lengths on this forum about the way we think about economics. The monetary system and the ideology of economic growth seem to be the biggest culprits.'

That said, you've got to watch out for these "doomday" type of predictions. Financial "gurus" make these kind of predictions all the time and the vast majority never amount to anything. Don't let your amygdala run the show.

[7thLetter]

9 hours ago, aurum said:

 

That said, you've got to watch out for these "doomday" type of predictions. Financial "gurus" make these kind of predictions all the time and the vast majority never amount to anything.

I've definitely heard this argument many times and it makes a good point. It's the same way with how people often predict a huge stock market crash but we haven't seen one since 2008, although we did see the crash in 2020 because of corona, but now we're back to all-time highs.

The counter argument these "doomsday" gurus make against this is the fact that the US keeps creating endless amounts of debt to prevent anything serious from happening, it's a band-aid solution.

If you look at https://www.usdebtclock.org/ the US national debt is at $28T and rising.

We're in a massive everything bubble right now and will pop at some point, the fact is that nobody knows when. Nothing goes up forever. And bubbles could last for years, maybe even decades, it doesn't have to happen in a short span of time for it to be considered a bubble.

It's debt that makes everything seem fine right now.

All we can do is look at history and see how this has worked out for other countries. Works at first but it becomes unsustainable then ends terribly, its all just a matter of time.

But like you said, it doesn't look pretty. We're definitely already starting to see some things and maybe its just the beginning.

Here's another video & channel I recommend: