Last night I had a conversation with a close friend of mine. We started talking about the economy. Full disclosure I am a full time trader i stare at charts for a living.
I've been warning him for over 2 years now that the plandemic and all the bullshit they implemented was going to cause a massive recession into a depression the likes of which we've never seen. That the credit crunch was gonna be unbelievable and that buying at home at all time highs during the plandemic was retarded and that he should stop pouring money into his 401k at his work.
He continued to pour money into those wortheless funds at work, he bought a house in 2021 which he got into a bidding war with and he even bought a new truck.
He is now complaining and blaming others about all the shit that's happening to him. He's going through a rough marriage, his work (new build developers) are now talking about massive slow downs and putting projects on suspension because the cost benefit analysis is weak etc etc.
He's mad at wall street for his problems. Just blindly pointing the finger at anyone but the mirror.
He's also giving me attitude lately because he finds it absurd that I can make money on a declining economy.
This is normie mentality 101. THIS is the core of the problem. Now I wouldn't even bother talking about the DS with him cause there is no point.
Nike reported inventory is overstocked by 44%, few people rushing to buy the new iPhone.
With the exception of people with ridiculous amounts of disposable income, real people aren’t buying the bright shiny objects. I hate to say this, but it’s kind of a good thing. All the nut jobs preaching climate change and sustainability are the same people replacing perfectly functioning devices and still newish clothes every season.
I’ve already been drastically scaling back spending for the past three years. But the people around me still ordering Seamless or Postmates for every meal, and going out for $20 cocktails every week, I don’t think they’re going to be able to handle it.
Aren’t money and communication the two biggest reasons for most breakups? We could be headed for a big yikes!
44% wowza. It is indeed a good thing imo. We will get back to fundamentals once this collapse happens and consolidates.
I was watching CNBC shills yesterday and they 4 "experts" on. When asked "Are you buying anything right now?" 3 of them said no and one of them explained her mindset. She was tired of all the ad based titans of nasdaq like google, meta etc and was looking into utility and value.
She wanted to invest in things that were high quality, innovative and a net positive to society in general. The other 2 agreed. You could tell even the fund guys are tired of the fakery.
One of them, and you could tell he's just a weasel in real life was shilling to buy buy buy everything no matter what.
The world is getting tired of the nonsense and wants back to real life.