Serious Are you ready for a recession?

[D.O.A.]

In 2008 oil was over 150 dollar's a barrel yet petrol and diesel prices were around half of what they are now, they even reached about 140 a barrel all the way back in the 1980s and look how cheap fuel was then 🤷‍♂️

The high prices for petrol and diesel aren't because of oil prices they're because of companies and governments taking the piss, shell made it's highest profits ever in the first 6 months of 2022

U.S. oil refining capacity down in 2021 for second year -EIA

Capacity for U.S. oil refiners fell in 2021 for the second year in a row, the most recent government data showed on Tuesday, as plant shutdowns kept whittling away on their ability to produce gasoline and diesel.

www.reuters.com

Pump prices are near $5 a gallon nationwide as soaring demand for motor fuels collides with the loss of about 1 million barrels of processing capacity in the last three years due largely to closings to plants that were unprofitable when fuel demand cratered at the height of the COVID-19 pandemic.

ItS RuSsiAs FaULt 🤡🌎

 

[Damo0666™️]

U.S. oil refining capacity down in 2021 for second year -EIA

Capacity for U.S. oil refiners fell in 2021 for the second year in a row, the most recent government data showed on Tuesday, as plant shutdowns kept whittling away on their ability to produce gasoline and diesel.

www.reuters.com

Pump prices are near $5 a gallon nationwide as soaring demand for motor fuels collides with the loss of about 1 million barrels of processing capacity in the last three years due largely to closings to plants that were unprofitable when fuel demand cratered at the height of the COVID-19 pandemic.

ItS RuSsiAs FaULt 🤡🌎

It's ridiculous it's nearly £2 per litre over here 😴 the reason they're doing it is because they want to meet their green targets and they figure if fuel is high it will push people towards electric vehicles and oil companies know over the next few decades their profits are going to start falling so they're trying to make as much as possible now

 

[Sweet Death]

Shits gonna be rough but if you have a job that society truly needs, a recession won't see you out of a job. If you sell $5 lattes or work for some bullshit VC startup as a hipster beard riding a pushbike around delivering groceries, I hear McDonald's is hiring. My job deals with prisons and hospitals, which shouldn't go out of fashion anytime soon. You need a safe bet and ride it out.

Well I work in a group home with elderly disabled clients. My job will never go away, in fact there is a staffing crisis, because we don't make enough money for what we do. I am responsible for these people's quality of life, and their lives depend on my care. Yet people can make more $ working in a restaurant, a big box store, etc...priorities are so fucked up

 

[D.O.A.]

It's ridiculous it's nearly £2 per litre over here 😴 the reason they're doing it is because they want to meet their green targets and they figure if fuel is high it will push people towards electric vehicles and oil companies know over the next few decades their profits are going to start falling so they're trying to make as much as possible now

I hold shares in oil and gas companies and it's not as profitable as it could/should be. No one wants to invest in new drilling, or governments are putting too many restrictions on new exploration. They want renewbles but the private sector won't just flip a switch and start harvesting the sun, these politicians and climate cretins are a fucking joke. That is still a decade away but they act like it can be rolled out as easily as a fucking carpet. Personally I'm not paying $89,000 for some electric fagmobile they can go fuck themselves I will burn oil until I die.

 

[sleepydawg]

If something bad happens to me, I'm one paycheck away from disaster. And I work 40 + hours a week. Something is really wrong with the world.

I'm extra fucked because I'm disabled and unemployed 🙃 It honestly feels like the government WANTS me to die.

greedy fucking people are causing this.
lazy people helped cause this.
deception caused this.

Stupid and evil people in power, basically

 

[mrln]

In 2008 oil was over 150 dollar's a barrel yet petrol and diesel prices were around half of what they are now, they even reached about 140 a barrel all the way back in the 1980s and look how cheap fuel was then 🤷‍♂️

The high prices for petrol and diesel aren't because of oil prices they're because of companies and governments taking the piss, shell made it's highest profits ever in the first 6 months of 2022

exactly my point. its fucking greed. the oil companies making "record profits". were hearing this more and more. and when i hear this,thats telling me that them companies are laughing right in our faces.

 

[92.eth]

To be fair, I don't think Bitcoin or even Ether are going away and will probably go back up in a few years. They have become too big and too popular.

That's how market cycles work. The current state of things is where people should be panic buying utility tokens and bitcoin and accumulate until the next run. The financial system of the future will utilize blockchain technology and this is not disputable, the only question is how much centralization through regulation will affect the efficacy of the system

I think the people who are getting hurt in the crypto-markets right now are the ones who are over-leveraged and their lenders. By over-leveraged I mean borrowing real money or crypto-currency to fund crypto-related projects like expansion of mining operations and other crypto-related stuff. I think the majority of retail investors are in it for the long haul and will just hold on to their coins and wait.

The majority of retail are in it for quick gains and they only become exit liquidity for the people they trade against. They don't take the time and work necessary to succeed in the market, don't pour over white papers and don't have any idea of what they are actually holding and have absolutely no strategy or risk management that they adhere to. Crypto was treated like a big casino but it is slowly maturing as we deleverage and there is still lots of growing up to do.

I haven't heard of anyone using decentralized finance to fund mining operations. I used to be an ETH miner until the anticipated merge but my mining operations (and the market crash) allowed me to become a Validator to provide more security to the network.

Glad you're coming around. Be careful

Also, most people don't know this, but if you want to short the housing market and know what you're doing I got 3 words: exchange traded funds.

 

[Shotgun Nose Job]

Interest rates aside we are already in a recession in my opinion.

 

[mrln]

well,i dont want to see a recession. but if it happens,it happpens. i (hopefully) will still be working. my jo consists of federal money. so im "secure" in a sense. and that would possibly be the time to buy another house or two!

 

[Fact21]

Stock tip:
Ford (F) - $14.00 per share….have 5,500 shares averaged at $10.77 per share.
Rolls-Royce (RYCYE) - insanely cheap $1.10 per share…..you will not lose on this one. Have 20,000 shares averages at $1.01 per share.

These are not short term stocks, think long term.

 

[GoreUser11]

Probably not. The best preparation is a plan to leave the country. There are some countries that won't be impacted by the recession.

Once a recession hits, you may be prepared but others won't. You'll have to walk as slow as the slowest person. You may have your own house paid off, but once landlords start evicting tenants they're going to wander about and might choose your home to crash in. You may have food, resources, but one knock on the door and a "Come on man, just a bit!" is going to cause a lot of trouble.

Some books I've read on the topic, they're not necessarily books on survival but more on the political side.
- Reinventing Collapse by Dmitry Orlov (A book about his experience living through the collapse of the Soviet Union, and how America's collapse would be far worse).
- Dry by Neal and Jarod Shusterman (a fictional book about a water crisis in California, the aftermath and effects. Fictional books bore me but this one was really good and straight to the point).
- The Modern Survival Manual by Fernando Aguirre (an Argentinian who lived through the 2001 economic crisis of Argentina).

 

[TheEverlastingGaze]

I am reading all this and the only thing that comes to mind is that I might actually be able to buy a house one day.

 

[D.O.A.]

 

[Reject]

Goregrish is, the website will survive at least.

That whole generation of fools who borrowed money at record low interest rates and somehow thought buying a overvalued home in their 20's was a good idea? not so much.

The days of easy money are over. Time to stop using afterpay. Time to stop buying $5 lattes. Time to cut up your credit cards. Time to stop buying invisible coins and meme stocks. Time to stop pretending everything will be okay.

Bookmark this post and come back in July 2023.
Wherever you live, interest rates will be almost "normalised" by this point. The reserve banks of the world left rates too low for too long and a entire generation is going to be squeezed soon like you can't even imagine.

The upside is, houses will be cheaper to buy 😄

The downside of that is the ghost of the fool who bought it on a fixed rate 2 years ago who hung himself in the bathroom.

You’ll be eating plastic iceberg lettuce and rice soon.

 

[Cyclepath]

No mortgage, own my house outright, and own and run a business that is recession proof, so not worried.

However, recessions can be funny fucken things, and you just never truly know what’s lying around the corner. It takes a lot of effort to build a life, but no effort at all to bring it down.

 

[mrln]

inflation inflation inflation!!!

 

[WhatIsLife64]

New York State's motto is "Excelsior". Taxes ever upward!

 

[D.O.A.]

Stock tip:
Ford (F) - $14.00 per share….have 5,500 shares averaged at $10.77 per share.
Rolls-Royce (RYCYE) - insanely cheap $1.10 per share…..you will not lose on this one. Have 20,000 shares averages at $1.01 per share.

These are not short term stocks, think long term.

Nice, Rolls Royce is a interesting choice do they have some EV plan or are they a possible takeover target? I'm not a car guy so I wouldn't have a clue of its value or long term plans. I'm into commodities that we produce here so I have about 100,000 shares in a natural gas/fertilizer producer and about 1.5 million shares with junior gold companies. Long term is the only way to go unless you're chasing pips and happy to pay the extra tax before any capital gains reductions start. I like holding for at least a year so the government only gets a 15 or 20% cut in profits.

Red 5's King of the Hills is Australia’s newest gold producer | Stockhead

Red 5 (ASX:RED) has poured first gold at the 2.4Moz, 16-year life-of-mine King of the Hills (KOTH) gold project in WA.

stockhead.com.au

https://strikeenergy.com.au/

Anyone who thinks cryptocurrency is the new gold needs to explain to me why Bitcoin lost 58% of its value this year while gold lost like $20. Fuck off with your invisible coins already.

 

[Cyclepath]

Rolls Royce, in particular long-term, would be a viable investment - in particular if you can dynamically invest in the production of their long-range aircraft engines. As the era of wide-body, long-haul jumbos has essentially come to an end, investment and research is turning towards producing larger fuel-efficient engines. Rolls Royce, along with GE would be worthy investments but I imagine it would take some time to recoup investment earnings after covid.

Flight will never stop, so investing into engine manufacturers looking to the future would be a wise decision.

 

[Racist Bastard]

What I don't understand is here in the USA you can buy land and a home flat out and owe nothing for it but, then e ery year the government expects you to pay a bunch of fucking taxes on your own property. ?? Like wtf? That's so unfair. And if you don't pay it they will eventually take that shit. It's bullshit