Why our economy may be headed for a decade of depression
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Re: Why our economy may be headed for a decade of depression
#2Stop it my SPY puts already expired worthless.
Re: Why our economy may be headed for a decade of depression
#3the headline is very optimistic for what the article contains
Re: Why our economy may be headed for a decade of depression
#4> Because tomorrow, every piece of consumer electronics, even your lowly coffee machine or microwave or toaster, is going to have a 5G chip. That’s what the internet of things is about. If the Chinese can listen to you through your smartphone, they can listen to you through your toaster. Once we declare that 5G is going to allow China to listen to our communication, we will also have to ban all household electronics made in China.
This is a ridiculous conclusion. Even if we make the generous assumption that people want internet connected toasters, we're likely not getting rid of WiFi. And even if we did ban hypothetical 5G toasters, manufacturers in China wouldn't shut down their factories, they would simply make different toasters.
It is hard to take this article seriously as legitimate analysis after reading things like this.
Re: Why our economy may be headed for a decade of depression
#5I'm trying to decide where the line between sound economic advice and scaremongering sits. I think it may be around "You’re going to start having food riots soon enough."
At least I hope that's scaremongering. Given that everyone is doing their best to return to normal, I feel like running out of unemployment may not be as big of an issue as stated.
Re: Why our economy may be headed for a decade of depression
#6Given who's in charge of the CDC + Senate I can't say I'm holding my breath.
Re: Why our economy may be headed for a decade of depression
#7I'm trying to decide where the line between sound economic advice and scaremongering sits. I think it may be around "You’re going to start having food riots soon enough." At least I hope that's scaremongering. Given that everyone is doing their best to return to normal, I feel like running out of unemployment may not be as big of an issue as stated.
Wait what? Unemployment payments are the only things that are preventing a full scale depression and hardship for millions. These people have lost their jobs, have no savings or assets, nothing. How are they going to get food? Pay rent?
The quick action by Congress in boosting unemployment payments has been the only thing keeping the economy from going belly up. If that stops, we’re in for a lot of hurt.
Re: Why our economy may be headed for a decade of depression
#8Think of all predictions as set of possible outcomes. Yes, there is a possible decade long depression outcome. Based on my reading its W recovery staggered growth, with US pulling back all its supply chains to North America and Export-Oriented economies holding the bag.
These economic and global dislocations resulting in events we have not seen Post-WW2.
In spite of all these, US/North America is where you would rather be than say, Europe, Africa or even Asia.
Re: Why our economy may be headed for a decade of depression
#9I'm trying to decide where the line between sound economic advice and scaremongering sits. I think it may be around "You’re going to start having food riots soon enough." At least I hope that's scaremongering. Given that everyone is doing their best to return to normal, I feel like running out of unemployment may not be as big of an issue as stated.
Part of me thinks that this is exaggerations as there’s no way all food banks have lines that are miles long, as stated in the article. I did notice that there are security guards outside my Whole Foods and Trader Joe’s now though.
> Given that everyone is doing their best to return to normal, I feel like running out of unemployment may not be as big of an issue as stated.
The bigger test may be once the PPP funds are exhausted in about a month.
Re: Why our economy may be headed for a decade of depression
#10> Because tomorrow, every piece of consumer electronics, even your lowly coffee machine or microwave or toaster, is going to have a 5G chip. That’s what the internet of things is about. If the Chinese can listen to you through your smartphone, they can listen to you through your toaster. Once we declare that 5G is going to allow China to listen to our communication, we will also have to ban all household electronics…
Yeah I ran across some scaremongers on Twitter 6 months ago who were going on about vaccines (??) And 5G. I had and still have no clue about that.
As a real aside, networking everything does definitely have upsides and downsides.
Upsides: seamless monitoring, remote control via api, integration across a house/car/phone, remote presence (never worry that door was open, or coffee pot is on, or garage door up).
Downsides: DRM at every level, unupdated devices, non-service things are now shorehorned into a service model, you no longer own your possessions, hacking, pay for a plan per device?
There's also spectrum discussions with 10-100x devices chattering. That's going to raise noise floors even higher.
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Relevant edit of where I see IoT going towards:
“The door refused to open. It said, “Five cents, please.”
He searched his pockets. No more coins; nothing. “I’ll pay you tomorrow,” he told the door. Again he tried the knob. Again it remained locked tight. “What I pay you,” he informed it, “is in the nature of a gratuity; I don’t have to pay you.”
“I think otherwise,” the door said. “Look in the purchase contract you signed when you bought this conapt.”
In his desk drawer he found the contract; since signing it he had found it necessary to refer to the document many times. Sure enough; payment to his door for opening and shutting constituted a mandatory fee. Not a tip.
“You discover I’m right,” the door said. It sounded smug.
From the drawer beside the sink Joe Chip got a stainless steel knife; with it he began systematically to unscrew the bolt assembly of his apt’s money-gulping door.
“I’ll sue you,” the door said as the first screw fell out.
Joe Chip said, “I’ve never been sued by a door. But I guess I can live through it.”
--- Phllip K Dick, "Ubik".