Recession - 2022 / 2023 / 2024

[Hobo Hilton]

Pay attention... Historically, Europe has survived many, many more challenges than America.

 

[lariat]

Pay attention... Historically, Europe has survived many, many more challenges than America.

How’s that? By that I mean that they lived there because there wasn’t anywhere else to go and it was a series of monarchies. If you are going back that far. If not I need help on your comment because we survived the civil war and multiple depressions (yup, more than one). Whether or not you consider making it through WW2 as a group of nations as surviving I’ll leave it to each person to decide. We gave them so much money to rebuild it was like an epi pen. And did they ever screw up so bad as to allow Russia to control their hypothermia cases in the coming winter, and some of the fuel that NATO uses.

Now where I would agree with you is that we are soft. Like so soft we bitch about school loans while our tables are full and we have Netflix. All while we compare everything through the lens of what other people have and never understanding how much better the standard of living is now. That’s a wildcard I haven’t found a real answer for yet. It’s weakness and it’s a problem.

ETA: correction of phone auto corrects that were incorrect.

 

[KZP]

3.8 Million Renters Likely To Be Evicted In Next Two Months

As pandemic eviction moratoriums expire and rent payment relief programs end across the U.S., a rental crisis is beginning to crest. About 8.5 million people are behind on rent as of the end of August, according to Census Bureau data. Of those renters, around 3.8 million say they are somewhat or...

www.dailywire.com

 

[Hobo Hilton]

How’s that? By that I mean that they lived there because there wasn’t anywhere else to go and it was a series of monarchies. If you are going back that far. If not I need help on your comment because we survived the civil war and multiple depressions (yup, more than one). Whether or not you consider making it through WW2 as a group of nations as surviving I’ll leave it to each person to decide. We gave them so much money to rebuild it was like an epi pen. And did they ever screw up so bad as to allow Russia to control their hypothermia cases in the coming winter, and some of the fuel that NATO uses.

Now where I would agree with you is that we are soft. Like so soft we bitch about school loans while our tables are full and we have Netflix. All while we compare everything through the lens of what other people have and never understanding how much better the standard of living is now. That’s a wildcard I haven’t found a real answer for yet. It’s weakness and it’s a problem.

ETA: correction of phone auto corrects that were incorrect.

A few things Europe recovered from:
The Black Death was an epidemic which spread across almost all of Europe in the years 1346-53.
I lost count of wars / conflicts in Europe.... Earliest were 5000 BC through 2022–present Russian invasion of Ukraine... Probably over 300 wars.
441 BCE, The first famine recorded in ancient Rome.... Through the famine prior to WW2, German's rationing food.

So, they have had plagues, famines and wars since before the Pilgrims landed at Plymouth Rock.

Been a long time since an American's first priority was simply to stay alive.

 

[Hobo Hilton]

More socialism. Mandates on how much a person or business can use a day, community shelters for the winter. This is added to what E. Bryant stated. Both will have to be implemented. Winter is coming too fast to address it any other way.

Seems that plan did not work well in the past.

Food in occupied Germany - Wikipedia

en.wikipedia.org

 

[Hobo Hilton]

“The problem we have is that the [Fed Chair Jerome Powell] does not understand, even at this point, what the causes of inflation are and were,” Hanke said.

Steve Hanke says we're going to have one 'whopper' of a recession in 2023

"The problem we have is that the [Fed Chair Jerome Powell] does not understand ... what the causes of inflation are and were," said the Johns Hopkins professor.

www.cnbc.com

 

[lariat]

“The problem we have is that the [Fed Chair Jerome Powell] does not understand, even at this point, what the causes of inflation are and were,” Hanke said.

Steve Hanke says we're going to have one 'whopper' of a recession in 2023

"The problem we have is that the [Fed Chair Jerome Powell] does not understand ... what the causes of inflation are and were," said the Johns Hopkins professor.

www.cnbc.com

This article is worth reading. I wonder, however, how much of this is actually incompetence as the author suggests.

 

[KZP]

 

[E. Bryant]

This article is worth reading. I wonder, however, how much of this is actually incompetence as the author suggests.

As Bret Weinstein recently observed, incompetence should result in random policy errors in all directions. If every error in being made in a destructive direction, then it's highly unlikely to be incompetence and instead is much more likely to be malice.

To be clear, I don't think we originally headed down this path for intentionally destructive reasons, and I don't know that we are currently engaging in self-destructive behavior because our goal is self-destruction. Instead, I view the situation as being akin to addiction - no one starts doing heroin because their goal is to be a junkie. Printing money was supposed to be a short-term thing to avoid a hangover from the excesses of 2001-'08, and then it became permanent, and then the economy developed a tolerance.

I'd have a lot more respect for Jerome Powell if he started using GNR's "Mr. Brownstone" as his press conference entry music, WWE-style.

 

[Vodoun daVinci]

So, are we still thinking this thing is gonna really manifest itself as a full blown Recession (or Depression) yet in 2022 or will it sizzle and smoke until 1st quarter 2023 or later?

VooDoo

 

[Hobo Hilton]

This article is worth reading. I wonder, however, how much of this is actually incompetence as the author suggests.

Incompetence or the FED becoming politicized.

 

[KZP]

We are in a full blown recession. Everyday it's getting worse. Unless the Russians make a deal with Europe to reopen energy exchange and governments abandon climate change hoax policies its going to burn down most of the world as we know it.

So, are we still thinking this thing is gonna really manifest itself as a full blown Recession (or Depression) yet in 2022 or will it sizzle and smoke until 1st quarter 2023 or later?

VooDoo

 

[lariat]

We are in a full blown recession. Everyday it's getting worse. Unless the Russians make a deal with Europe to reopen energy exchange and governments abandon climate change hoax policies its going to burn down most of the world as we know it.

I believe this is correct. The media is trying to downplay it all and the unthinking masses will buy it until they are broke. But, the other side is the realization that as the citizenry there really isn’t much to do other than go to work and do the best that one can with the hand that is being dealt. By that I mean no one is going to Russia to open the valves, no one is able to stop this administration from spending so much money and no one is able to prevent the lobbyists from getting to the politicians the world over.

I don’t think many have stopped to consider that all the politicians know what’s coming and they are just as afraid for themselves and aligning with entities that don’t have our best interests in mind, and the politicians are doing this to get themselves and their families a safe harbor. At the expense of the countries they are supposed to be leading. It’s a worldwide phenomenon of selfish leadership instead of sacrificial service to the citizens.

 

[Hobo Hilton]

The numbers are just not adding up....

Job openings top 11.2 million in July, well above estimate and nearly double the available workers

Available positions totaled 11.24 million for the month, well in excess of the 10.3 million FactSet estimate, according to the JOLTS report.

www.cnbc.com

 

[Vodoun daVinci]

We are in a full blown recession. Everyday it's getting worse. Unless the Russians make a deal with Europe to reopen energy exchange and governments abandon climate change hoax policies its going to burn down most of the world as we know it.

So I'll rephrase the question - when do we think it's gonna Hit the Fan? Yet this year, this Winter when The EU freezes to death/goes broke trying to buy fuel, next year, etc. I'm not doubting we are in a Recession but having lived thru a couple already this ain't shit. Yet. I'm trying to follow along but, like Hobo keeps saying, this just doesn't quite add up and isn't progressing like a "Normal" Recession rolls out.

I'm ready for whatever comes - all paid off, no outstanding CC debt, literally enough cash in the bank to live modestly (as I always have) with no income from any source for a good part of a decade and at least 2 years of stored food. All I have to do is protect it from the Politicians and Unwashed Masses until this thing turns around.

I have friends in the EU and talk to them on nearly a daily bases....normal, everyday people. One of them owns and operates a Camping/Caravan Park in Scotland. Basically people who are RV'ing in the EU all stop at his place when traveling/on Holiday to Scotland and Ireland and his business is booming. People are traveling, spending, living and rocking out. This is not Grandpa's Recession. And it's not just in Scotland - the people who are traveling and passing thru are not desperate broke Living-on-the-Road travelers. They are flush and living a Lifestyle most of US think only happens in America. Somebodies "making shit up". The MSM and .Gov are playing with US.

VooDoo

 

[Hobo Hilton]

So I'll rephrase the question - when do we think it's gonna Hit the Fan? Yet this year, this Winter when The EU freezes to death/goes broke trying to buy fuel, next year, etc. I'm not doubting we are in a Recession but having lived thru a couple already this ain't shit. Yet. I'm trying to follow along but, like Hobo keeps saying, this just doesn't quite add up and isn't progressing like a "Normal" Recession rolls out.

I'm ready for whatever comes - all paid off, no outstanding CC debt, literally enough cash in the bank to live modestly (as I always have) with no income from any source for a good part of a decade. All I have to do is protect it from the Politicians and Unwashed Masses until this thing turns around.

VooDoo

I understand what you are saying... There is so much propaganda, so much money printing and so many leaders with a plan of "Hope" that the masses are simply going along with the phrases like "Price of gasoline is down", "Inflation has topped out", "Less people living pay check to paycheck" and the bull shit machines are running 24 / 7......
Every year Hurricane Warnings / Evacuations are issued... Every year there are people who either ignore them or deny there is any danger...
The Recession Warnings are in place. Some ignore and some deny... And then there are people like us who take heed.
Many of my indicators are local or regional. I'm communicating with the locals who grew a garden, are cutting fire wood or who are ordering a package deal at my local custom meat packing place....

Here is an example:

 

[lariat]

I understand what you are saying... There is so much propaganda, so much money printing and so many leaders with a plan of "Hope" that the masses are simply going along with the phrases like "Price of gasoline is down", "Inflation has topped out", "Less people living pay check to paycheck" and the bull shit machines are running 24 / 7......
Every year Hurricane Warnings / Evacuations are issued... Every year there are people who either ignore them or deny there is any danger...
The Recession Warnings are in place. Some ignore and some deny... And then there are people like us who take heed.
Many of my indicators are local or regional. I'm communicating with the locals who grew a garden, are cutting fire wood or who are ordering a package deal at my local custom meat packing place....

Here is an example:

Those two metrics in that video are uncorrelated. One is a current survey (totally not biased) and the other actual (?) earnings data from previous accounting periods to be published. That’s how the picture gets painted and skewed. Welcome to election season.

 

[KZP]

So I'll rephrase the question - when do we think it's gonna Hit the Fan? Yet this year, this Winter when The EU freezes to death/goes broke trying to buy fuel, next year, etc. I'm not doubting we are in a Recession but having lived thru a couple already this ain't shit. Yet. I'm trying to follow along but, like Hobo keeps saying, this just doesn't quite add up and isn't progressing like a "Normal" Recession rolls out.

I'm ready for whatever comes - all paid off, no outstanding CC debt, literally enough cash in the bank to live modestly (as I always have) with no income from any source for a good part of a decade and at least 2 years of stored food. All I have to do is protect it from the Politicians and Unwashed Masses until this thing turns around.

I have friends in the EU and talk to them on nearly a daily bases....normal, everyday people. One of them owns and operates a Camping/Caravan Park in Scotland. Basically people who are RV'ing in the EU all stop at his place when traveling/on Holiday to Scotland and Ireland and his business is booming. People are traveling, spending, living and rocking out. This is not Grandpa's Recession. And it's not just in Scotland - the people who are traveling and passing thru are not desperate broke Living-on-the-Road travelers. They are flush and living a Lifestyle most of US think only happens in America. Somebodies "making shit up". The MSM and .Gov are playing with US.

VooDoo

No one can know exactly when d day shows up. Those who ignore the signs that slowly indicate the approach will be swept away with shock. People caught up in normal life are ignorant of what calamity is capable of becoming reality. They bought into the "but it's current year, stuff won't get bad like before" lie.

Look at major global events starting in 1776, then see what happened every 80ish years up to wwii. We are at the door within a handful of months to years of this generations version of world disorder. That's why preparing now is important because we can't know 100 percent what happens 5 minutes from now.

 

[Charger442]

As Bret Weinstein recently observed, incompetence should result in random policy errors in all directions. If every error in being made in a destructive direction, then it's highly unlikely to be incompetence and instead is much more likely to be malice.

To be clear, I don't think we originally headed down this path for intentionally destructive reasons, and I don't know that we are currently engaging in self-destructive behavior because our goal is self-destruction. Instead, I view the situation as being akin to addiction - no one starts doing heroin because their goal is to be a junkie. Printing money was supposed to be a short-term thing to avoid a hangover from the excesses of 2001-'08, and then it became permanent, and then the economy developed a tolerance.

I'd have a lot more respect for Jerome Powell if he started using GNR's "Mr. Brownstone" as his press conference entry music, WWE-style.

I'd have more respect for Powell if he resigned or fessed up and said " The Fed is the problem and I have no idea what I'm doing"

So I'll rephrase the question - when do we think it's gonna Hit the Fan? Yet this year, this Winter when The EU freezes to death/goes broke trying to buy fuel, next year, etc. I'm not doubting we are in a Recession but having lived thru a couple already this ain't shit. Yet. I'm trying to follow along but, like Hobo keeps saying, this just doesn't quite add up and isn't progressing like a "Normal" Recession rolls out.

I'm ready for whatever comes - all paid off, no outstanding CC debt, literally enough cash in the bank to live modestly (as I always have) with no income from any source for a good part of a decade and at least 2 years of stored food. All I have to do is protect it from the Politicians and Unwashed Masses until this thing turns around.

I have friends in the EU and talk to them on nearly a daily bases....normal, everyday people. One of them owns and operates a Camping/Caravan Park in Scotland. Basically people who are RV'ing in the EU all stop at his place when traveling/on Holiday to Scotland and Ireland and his business is booming. People are traveling, spending, living and rocking out. This is not Grandpa's Recession. And it's not just in Scotland - the people who are traveling and passing thru are not desperate broke Living-on-the-Road travelers. They are flush and living a Lifestyle most of US think only happens in America. Somebodies "making shit up". The MSM and .Gov are playing with US.

VooDoo

What makes this recession different, right now, from your Grandpa's is the presence of large credit lines and credit card spending. Couple that with 2.5 years of hiding and saving money from no vacations during COVID and you have people willing to go charge up large trips until they can't make the min payments anymore.

People are willing to go into debt rather than do without. This will continue until unemployment rises and it will rise as things snowball from reduced consumer spending

 

[KZP]

 

[lariat]

No one can know exactly when d day shows up. Those who ignore the signs that slowly indicate the approach will be swept away with shock. People caught up in normal life are ignorant of what calamity is capable of becoming reality. They bought into the "but it's current year, stuff won't get bad like before" lie.

Look at major global events starting in 1776, then see what happened every 80ish years up to wwii. We are at the door within a handful of months to years of this generations version of world disorder. That's why preparing now is important because we can't know 100 percent what happens 5 minutes from now.

Some wise dude said the following: "As fish are caught in a cruel net, or birds are taken in a snare, so people are trapped by evil times that fall unexpectedly upon them."

And "If you are wise, your wisdom will reward you; if you are a mocker, you alone will suffer."

Just some advice and lessons from along the way I picked up....

 

[E. Bryant]

I won't pretend to know how fast things will get worse, but I remember 2008 well enough to recall that the summer's news mostly related to commodity inflation and denials of a recession, I got my first whiff of bad news in the 3rd week of August when a customer cancelled a future program, the equity markets started to tank hard in late September, and in October the federal government was barely preventing the whole financial system from complete collapse. The transition from "$4 for gas is kinda expensive" to "the federal government is covering payroll for Ford and GE" was blindingly fast, even for those who'd saw storm clouds on the horizon.

It' might go even faster this time.

 

[NoDopes]

If shit is going to go tits up... I should go out and charge $60K on credit card for gold and ammo... then just wait for it to collapse.

 

[lariat]

If shit is going to go tits up... I should go out and charge $60K on credit card for gold and ammo... then just wait for it to collapse.

Some people tried that methodology during Y2K. It might be argued that others are now trying it with school loans.

 

[Vodoun daVinci]

LOL....in 1978 I was living/working in Chicago making serious money working as a subcontractor for ITT during the days (pulling telephone wire) and playing Blues Clubs 3 nights a week. Came into some "spare cash" and got the crazy idea I was gonna buy gold as everyone with a brain saw a meltdown happening. Gold was $186 an ounce and I had about $5K which was a virtual fortune for a 26 YO in 1978. My Dad told me I was crazy....working people don't speculate in Gold and such. He convinced me to expand my small business and upgrade vehicles and tools.

Shit got so bad Winter of '79 that we lost it all and ended up sneaking back home with the clothes on our backs and a car the bank wanted back - just as we pulled out of the dead end in early 1980 Gold I didn't buy hit like $900 an ounce. Loved my Dad - never forgave him for that one and we had some serious laughs many years later about what I would have done with >$20K in 1980.

Microsoft looked good to me...he spat whisky out his nose when I said that. I wonder what Golds gonna do when this latest Recession really gets smoking?

VooDoo

 

[E. Bryant]

If shit is going to go tits up... I should go out and charge $60K on credit card for gold and ammo... then just wait for it to collapse.

Works great unless the collapse is deflationary.

Here's an example of the people trying this approach with new-car loans:



Our tax dollars probably won't bail them out, but we'll bail out the banks that were dumb enough to make these loans.

 

[Hobo Hilton]

If shit is going to go tits up... I should go out and charge $60K on credit card for gold and ammo... then just wait for it to collapse.

I'll give my gut feeling on that.
Certain characteristics of this recession appear to be making the downward trend appear to be on a long tapering down trend. I thought the recession would define itself during 2022. As we have discussed, it appears it is going into 2023. A person running up a $60k charge on a credit card may not avoid the repercussions of it going to a collection agency. The "credit industry" probably have a very realistic grip on how this recession will take hold and have themselves protected by the "Reinsurance" industry. A lot of the charges a consumer is paying to the credit card companies is actually paying insurance should that person default on the credit debt..... The credit industry took some tough hits in previous recessions and learned some valuable lessons. Should an abrupt crash occur, the credit card companies will make more money off of their insurance than the customer who is repaying the debt.

Avoiding the Reinsurance Credit Risk

The best-case scenario for a reinsured is to have its reinsurance recoverables secured to avoid any unnecessary credit risk associated with obtaining reinsurance. Larry Schiffer explains.

www.irmi.com

 

[Hobo Hilton]

Works great unless the collapse is deflationary.

Here's an example of the people trying this approach with new-car loans:



Our tax dollars probably won't bail them out, but we'll bail out the banks that were dumb enough to make these loans.

One more article relating to "Tell it like it is" rather than tell readers what they want to hear.
Remember, recently credit reporting agencies removed delinquent medical bills from a credit report. That jacked up the points tremendously.

Credit scores still sit at all-time high, despite some 'deterioration' in how Americans are faring financially

Even as consumer debt rises, the national average credit score still sits at an all-time high of 716, unchanged from a year ago, according to FICO.

www.cnbc.com

 

[KZP]

Snap laying off 20 percent

Snap reportedly plans to lay off roughly 1 in every 5 employees

Snap Inc. plans to lay off about 20% of its staff as the online-advertising industry faces problems, according to a Tuesday report.

www.marketwatch.com

 

[KZP]

 

[babyguppy]

GREAT news for Biden's perfect economy
There were 11.239 million job openings in the U.S. on the last day of July, the Department of Labor said on Monday.

Job Openings Explode Higher, Raising Inflation Alarms

Jerome Powell's dream of taming inflation by bringing down job vacancies has turned into a nightmare of an overheating labor market. | Economy

www.breitbart.com

hobo - looks like someone already did the math for you

From Brietbart's comments

Hunter's_Crackpipe stokr • 6 hours ago
11.239M job openings, an available labor force of 163.5M, and a Labor Participation Rate of 62.1%, YET somehow we have an unemployment rate of 3.4%.
Government Math at it's Finest

 

[Hobo Hilton]

GREAT news for Biden's perfect economy
There were 11.239 million job openings in the U.S. on the last day of July, the Department of Labor said on Monday.

Job Openings Explode Higher, Raising Inflation Alarms

Jerome Powell's dream of taming inflation by bringing down job vacancies has turned into a nightmare of an overheating labor market. | Economy

www.breitbart.com

hobo - looks like someone already did the math for you

From Brietbart's comments

Hunter's_Crackpipe stokr • 6 hours ago
11.239M job openings, an available labor force of 163.5M, and a Labor Participation Rate of 62.1%, YET somehow we have an unemployment rate of 3.4%.
Government Math at it's Finest

Well, I was educated in the deep south during the 60's... But even then 2+2=4... That had not changed until the career politician's arrived on the scene. We are reaping the results of "The Dumbing of America"... But when a billionaire and a minimum wage worker both run out of money they are both still broke. We will see that in our future.

 

[Vodoun daVinci]

I know little but suspect much - I'll bet not one single Billionaire Oligarch loses one penny in the coming possible Blood Bath. I'm not really a Conspiracy Theorist but this whole thing (Globally) looks like a planned and executed realignment of Global Currencies and the Wealth and Power of The Oligarchy that now runs the World and will increase it's power and influence exponentially the next few months/years. The Little People are toast - the .01% will own yer shit and rent it back to you going forward and if you can't pay/run out of funds you'll be denied food, medical care, housing, etc. until you expire and give yer goodies to The Oligarchy.

Sorry...prolly 'cause I'm old but this whole thing looks perfectly planned and orchestrated to me. I'm gonna love watching how this all plays out. Got cash, got food, got ammo, got no debt, got my health so far and I'm seriously curious to see how this all pans out. This whole thing is like a dystopian '70's movie. And by the Way, Mikhail Gorbachev died at 91 today. Last President/Ruler of the Soviet Union. Liked that guy. RIP.

VooDoo

 

[KZP]

I know little but suspect much - I'll bet not one single Billionaire Oligarch loses one penny in the coming possible Blood Bath. I'm not really a Conspiracy Theorist but this whole thing (Globally) looks like a planned and executed realignment of Global Currencies and the Wealth and Power of The Oligarchy that now runs the World and will increase it's power and influence exponentially the next few months/years. The Little People are toast - the .01% will own yer shit and rent it back to you going forward and if you can't pay/run out of funds you'll be denied food, medical care, housing, etc. until you expire and give yer goodies to The Oligarchy.

Sorry...prolly 'cause I'm old but this whole thing looks perfectly planned and orchestrated to me. I'm gonna love watching how this all plays out. Got cash, got food, got ammo, got no debt, got my health so far and I'm seriously curious to see how this all pans out. This whole thing is like a dystopian '70's movie. And by the Way, Mikhail Gorbachev died at 91 today. Last President/Ruler of the Soviet Union. Liked that guy. RIP.

VooDoo

It is planned and orchestrated to a degree, but there is no law in the universe that says global leaders plans will work as intended. Compared to past historical events, I don't see the same level of public support taking place. Look at Mao, Moussalini, Hitler, Hirohito etc. They had tons of people willing to do anything they command. In comparison today, we are seeing way more angst against the governments.

Those who are in majority support of government actions are cowards. They put up a twitter icon, retweet, hit like etc. They aren't filled with unwavering conviction to die for a cause. This is reflected in the recent groups who volunteered to fight in Ukraine, then quickly tried to escape when they saw reality.

Even Antifa is rather pathetic compared to groups of the past. Unless the world governments can build themselves more public support to defend the streets, we are on the way to seeing French revolutions globally in synch. It's getting to the point where relatively small police forces and military aren't large enough to maintain order when power is out & food is gone. Tens to hundreds of millions with nothing to lose vs a fraction of that with something to maybe try and maintain, but certainly not gain. I don't yet see current armed government forces willing to die with conviction for their leaders.

 

[RUTGERS95]

Works great unless the collapse is deflationary.

Here's an example of the people trying this approach with new-car loans:



Our tax dollars probably won't bail them out, but we'll bail out the banks that were dumb enough to make these loans.

fking morons!

 

[Hobo Hilton]

"Buy Now, Pay Later"
That concept sounded great during the boom years. Not working out well as the recession takes hold.

Fintech firm Klarna's losses triple after aggressive U.S. expansion and mass layoffs

The firm, which allows users to spread the cost of purchases over interest-free installments, saw a jump in operating expenses and defaults.

www.cnbc.com

 

[Hobo Hilton]

No politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because the direct and indirect costs of extraction are reaching a point where the selling price of food and other basic necessities needs to be unacceptably high to make the overall economic system work. At the same time, wind and solar and other “clean energy” sources are nowhere nearly able to substitute for the quantity of fossil fuels being lost.

The World’s Energy Problem Is Far Worse Than We’re Being Told | OilPrice.com

The global energy crunch is already wreaking havoc on economies across the globe, and the problem may be much worse than we’re being told

oilprice.com

 

[babyguppy]

No politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because the direct and indirect costs of extraction are reaching a point where the selling price of food and other basic necessities needs to be unacceptably high to make the overall economic system work. At the same time, wind and solar and other “clean energy” sources are nowhere nearly able to substitute for the quantity of fossil fuels being lost.

The World’s Energy Problem Is Far Worse Than We’re Being Told | OilPrice.com

The global energy crunch is already wreaking havoc on economies across the globe, and the problem may be much worse than we’re being told

oilprice.com

a load of bull shit

no politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because the direct and indirect costs of extraction​

'they' have been screaming that we'll run out of oil since the 70's.
colorado has over a TRILLION barrels in oil sands that is UNtapped. US can easily go with nuclear for most electrical and have the oil dependence we rightly deserve. Environmentalists don't want this. With cheap energy, we can kick the worlds butt on production. WORLDS largest Coal reserves is in Utah; but Indonesian assets 'donated' paid off to Bill Clinton and Al Gore. Bill then declared one of the world's largest coal reserve a National Monument, so it can never be mined.

1996 United States campaign finance controversy - Wikipedia

en.wikipedia.org

1996: Clinton takes a 1.7 million-acre stand in Utah

President Bill Clinton uses the Antiquities Act of 1906 to designate a new 1.7 million-acre national monument in southern Utah, and reactions range from joy to indignation and outrage.

www.hcn.org

Utah sits on the largest salt dome in the west.
“The salt dome under the Intermountain Power Project is so large that it has the capacity for storing more energy than all the installed batteries in the entire world,” says Ward.

Coal - Utah Geological Survey

Includes Utah coal data and reports, and information on the mercury in coal project and coalbed methane plays.

geology.utah.gov

Utah’s largest coal deposit is within the Kaiparowits Plateau coalfield. This coalfield was once off limits to development since it was within Grand Staircase–Escalante National Monument, but this monument was reduced in size in 2017, leaving part of the resource outside of the monument boundary. (thank you trump for decreasing it; Dems wouldn't let him do more)

Countries by coal reserve link
��

Tonnes (mil)	%	Tonnes (mil)	%	Tonnes (mil)	%
Rank	Country	Anthracite & bituminous	Subbituminous & lignite	Total
1	United States	220,167	30%	30,052	9.4%	250,219	24%
2	Russia	69,634	9.5%	90,730	28.4%	160,364	15%
3	Australia	70,927	9.7%	76,508	23.9%	147,435	14%
4	China	130,851	17.8%	7,968	2.5%	138,819	13%

Front Page Featured | MRCTV

www.cnsnews.com

 

[lariat]

a load of bull shit

no politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because the direct and indirect costs of extraction​

'they' have been screaming that we'll run out of oil since the 70's.
colorado has over a TRILLION barrels in oil sands that is UNtapped. US can easily go with nuclear for most electrical and have the oil dependence we rightly deserve. Environmentalists don't want this. With cheap energy, we can kick the worlds butt on production. WORLDS largest Coal reserves is in Utah; but Indonesian assets 'donated' paid off to Bill Clinton and Al Gore. Bill then declared one of the world's largest coal reserve a National Monument, so it can never be mined.

1996 United States campaign finance controversy - Wikipedia

en.wikipedia.org

1996: Clinton takes a 1.7 million-acre stand in Utah

President Bill Clinton uses the Antiquities Act of 1906 to designate a new 1.7 million-acre national monument in southern Utah, and reactions range from joy to indignation and outrage.

www.hcn.org

Utah sits on the largest salt dome in the west.
“The salt dome under the Intermountain Power Project is so large that it has the capacity for storing more energy than all the installed batteries in the entire world,” says Ward.

Coal - Utah Geological Survey

Includes Utah coal data and reports, and information on the mercury in coal project and coalbed methane plays.

geology.utah.gov

Utah’s largest coal deposit is within the Kaiparowits Plateau coalfield. This coalfield was once off limits to development since it was within Grand Staircase–Escalante National Monument, but this monument was reduced in size in 2017, leaving part of the resource outside of the monument boundary. (thank you trump for decreasing it; Dems wouldn't let him do more)

Countries by coal reserve link
��

Rank	Country	Anthracite & bituminous	Subbituminous & lignite	Total
Tonnes (mil)	%	Tonnes (mil)	%	Tonnes (mil)	%
1	United States	220,167	30%	30,052	9.4%	250,219	24%
2	Russia	69,634	9.5%	90,730	28.4%	160,364	15%
3	Australia	70,927	9.7%	76,508	23.9%	147,435	14%
4	China	130,851	17.8%	7,968	2.5%	138,819	13%

Front Page Featured | MRCTV

www.cnsnews.com

Yup. We keep finding oil. Saudi may have a problem (not sure), but the US has no such issue. Other than the politicians wanting to kill it by no giving out leases. Perhaps that what they mean by running out.

 

[babyguppy]

Yup. We keep finding oil. Saudi may have a problem (not sure), but the US has no such issue. Other than the politicians wanting to kill it by no giving out leases. Perhaps that what they mean by running out.

saudi's paying the politicians to kill our energy. Look what Saudi did with England and their nuclear reactors.
SA got the 'greens' to kill nuclear and invest in 'LNG' that SA sells to England. Oh, how are the electrical rates in England atm? what.. hmm.
politicians aren't worried, but the working man is fk'd.

 

[Fig]

There is no such thing as "Peak Oil". Fracking technology added 140 billion barrels and 6 trillion cubic feet of gas to the planet's reserve. As technology changes the energy we can extract goes up, not down.

Obviously at some point it will be exhausted, but current estimates put that at around 2300 if current energy consumption remained constant.

Can't sell many lithium batteries and carbon credits if people knew we would run out of fossil fuel in 15 generations, or that Global Warming wasn't going to kill us all by 2006.

I honestly don't understand how so many perfectly intelligent human beings could be so fucking stupid as to believe anything the cult of green says.

 

[babyguppy]

MSN

 

[KZP]

 

[devildog93]

What happened to them? People cut orders or did they run out of components for everything? Maybe a bit of both?

 

[KZP]

Not sure what average delinquency would be

 

[Hobo Hilton]

.... Gettin' by.....
As I age, I'm finding my memory is not as good as it used to be. Like many American's I get different reminder's that it is time to "Reorder" different items. Most of them make it so easy that it is just "click, click, click" on my computer and forget about it. Eventually the item shows up. Recently I am finding more "out of pocket" bills showing up. So, when I get an auto notification to reorder, I reply that, for now, I have to "Do Without"... Amazing how many younger, working people have no idea what I am saying.... "But, but, but sir, you have been using this product for 5 years ! ! ! "
Maybe they will print a book titled "Doing Without for Dummies"...

 

[Hobo Hilton]

If you believe the FED's numbers:
There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates.

Here's how the Fed will read today's jobs report

The US has a jobs problem: There are too many of them.

www.cnn.com

 

[babyguppy]

If you believe the FED's numbers:
There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates.

Here's how the Fed will read today's jobs report

The US has a jobs problem: There are too many of them.

www.cnn.com

Anyone find the median pay rate for those 'open' jobs? I'm guessing most are minimum wage (8.00 an hour ish).
I'm guessing there's a few million dollar jobs 'out' there that will throw off an average hourly wage.
maybe a lot of 'server' positions at 2.13 an hour; tossed into the mix.

 

[Lightning8]

If you believe the FED's numbers:
There are currently around two jobs available for every unemployed person, and as a result, employers have had to raise wages to attract suitable candidates.

Here's how the Fed will read today's jobs report

The US has a jobs problem: There are too many of them.

www.cnn.com

I saw another article that 36% of Americans now working independently in some form of "gig" job or as independent contractor. Many of these may never go back to "traditional" employment. If health care is broken away from employer (Obamacare +), the self employed number probably will continue to increase

 

[Hobo Hilton]

I saw another article that 36% of Americans now working independently in some form of "gig" job or as independent contractor. Many of these may never go back to "traditional" employment. If health care is broken away from employer (Obamacare +), the self employed number probably will continue to increase

There is more "Breaking Away" going on than the average person can grasp. Being a member of the Poor's, I am finding things I need at discount prices by getting away from the traditional supply chain. I'm joking with myself about inflation when I say the Government takes an item and adds 50% to the list price. Government adds cost and blames it on the farmers, truckers, manufacturer's, miner's, Chinese and Russians...

When a man is grossing $30 / hour and taking home $15 / hour....... It does not take him long to figure out working for $20 / hour cash is a better deal.

I am retired and every time I go into a repair shop, auto parts store or welding supply store.... Someone offers me a job.

Employment Situation Summary - 2024 M10 Results

www.bls.gov