Economic crisis

[ilan]

Covid19 wave after wave. everything is getting more expensive, dollar and euro are here at their lowest, are we before a big economic crisis?
Electricity, gas, water, food everything here is getting more expensive. How is it in your countries? did you notice those price changes in your supermarket?

i hear Economists talking about a very bad time that is coming and i start getting concerned about that. I will start being more calculated in my spending how about you?

The next financial crisis is fast approaching

Central banks need to prepare because global stock markets and real estate are overvalued, while leverage is near record levels for households, corporations,...

www.marketwatch.com

 

[LucaMs]

I'm very rich and just as liar

?

 

[hatzisn]

The fact is that no one wants to lose. The gas/petrol companies sell higher, thus the transportations and the production are higher and thus all producers roll this cost to the customers. If the cost that rolls by 100% to the clients was being divided between all four components of this chain, we would certainly pay something higher than usual but not as high as now. My weekly cost of life was increased by almost 20% and I keep buying more or less the same things.

 

[ilan]

The fact is that no one wants to lose. The gas/petrol companies sell higher, thus the transportations and the production are higher and thus all producers roll this cost to the customers. If the cost that rolls by 100% to the clients was being divided between all four components of this chain, we would certainly pay something higher than usual but not as high as now. My weekly cost of life was increased by almost 20% and I keep buying more or less the same things.

my weekly spending on food only went from about 700-800 shekel /week to 1000-1200 shekel /week in just about 1-2 years.
technology is always improving so more robots mean a higher production rate which also should have a lower cost for the producer which should lead to a lower end price for the customer but I just see the opposite.
i don't think the factories earn more today i think that the government is getting more taxes from us to pay for mistakes they did in this pandemic and the future is not looking very good.

 

[aeric]

I don’t want and not allowed to talk politics here but it seems more taxes are going to be introduced in my country. Government is increasing the price of sugar by giving an excuse it is unhealthy. Tyres, rims and engine oil just increased of price since yesterday. More are coming up.

 

[hatzisn]

my weekly spending on food only went from about 700-800 shekel /week to 1000-1200 shekel /week in just about 1-2 years.
technology is always improving so more robots mean a higher production rate which also should have a lower cost for the producer which should lead to a lower end price for the customer but I just see the opposite.
i don't think the factories earn more today i think that the government is getting more taxes from us to pay for mistakes they did in this pandemic and the future is not looking very good.

The 20% increase in my weekly spending is from May or June. Before 2 years my weekly spending was almost at 2/3 of the present one. This means that an almost 50% increase occurred in two years from the value of then to the the value of now. The same time the family income did not increase at all.

@aeric I respect what you want to do but I do not think that this discussion falls into the category of politics. It is a global phenomenon.

 

[ilan]

overnment is increasing the price of sugar by giving an excuse it is unhealthy.

haha, same here.
they have increased all plastic dishes 25% by saying its bad for the world but no reform on recycling.

 

[Mark Turney]

Yes, definitely! My food (including pet's food) has increased by 20-30%. Gas is up > 50% from below $2 USD/Gal to about $3.26 USD last time I filled up. As a result, I looked and found a FT job again, where I was doing fine before just rideshare driving with occasional IT work. Luckily, I seem to have found a gem of a job with good people and pay (healthcare IT). Hope everyone else can do similar.

 

[ilan]

Gas is up > 50% from below $2 USD/Gal to about $3.26 USD

here we pay for 1-liter Benzin 6.83 shekel = 2.18$ so 1 Gal = 8.26$ almost 3x of what you are paying ???

today i went to the supermarket and look at this example:

198 plastic plates, medius size cost 39.90 shekel = 12.7$ is this normal?
just to understand the minimum wage here is 5000 shekel = 1600$/month

 

[Mark Turney]

Yikes .... I knew we had it easy with gas prices, even now. But that is something else ... high fuel! I drive a fuel-efficient car, unlike many here who drive over-sized vehicles for no reason. I think times will get tougher. I've been investing in crypto (Shiba Inu specifically) ... risen almost 900% in one month.

 

[ilan]

I've been investing in crypto (Shiba Inu specifically) ... risen almost 900% in one month.

you are stabbing a knife in my heart right now.
i had 2.5 months ago 24.260.000 SHIB that i bought for about 200$ and sold them with a loss. if I would keep them until today I would have made about 1800$

? ? ? ?

the problem is that i also sold the Matic with a loss. this game is not for me.

 

[Alexander Stolte]

1-liter Benzin 6.83 shekel = 2.18$

1,88€ , in Germany we have similar prices, soon the liter will cost 2€.

 

[Mark Turney]

you are stabbing a knife in my heart right now.
i had 2.5 months ago 24.260.000 SHIB that i bought for about 200$ and sold them with a loss. if I would keep them until today I would have made about 1800$

? ? ? ?


View attachment 121137


the problem is that i also sold the Matic with a loss. this game is not for me.

Don't feel too bad. I say I'm invested, but only $100 USD (~1.5 million shares) worth. So, if it ever makes it to 10 cents or even 1 cent, I'll be good. But I won't get rich off it anytime soon. Now if we had both put even $1 back when it started, we'd be millionaires now ... hindsight is 20/20, eh? Since misery loves company , I got rid of 10,000 shares of XRP (ripple) when the SEC was investigating them .... at the time, it was $0.17 usd/share, so I broke even at about $1,700 cashed out from an original investment of maybe $1,500. Now, it's back on Coinbase and trending over $1/share ......