The great debt crash

[biglentil]

I liken BRICS nations to the local group of reserves who went together to build a casino in the city. All fine and dandy. Great idea and successful business except none of them could get along and get their shit together. Built a gas station as well but has sat vacant unoccupied for 5 years. Of the 5 reserves only one is involved running the casino while the rest squabble. Remember BRICS was a brain fart of a couple American pundits who seen the potential of such nations to unsurp the American hegemony if they put their differences aside and got their acts together.

Want gizmos from China, a million tons of Urea from Russia, well you are going to need gold to convert into the new currency. Sell a load of grain to China, they will be glad to pay us back in our funny money. Do you see the problem?

[errolanderson]

Gold's enemy is a rapidly slowing China economy and deflation. Precious metals have been weak this summer. Gold prices (IMO) are again in-a-downtrend.

Deflation now hammering the auto industry. New vehicle prices appear down 10 to 20% depending on model. Used market down about 25%. Lot inventories swelling. And ill-thought out central banker policies continue to destroy the economy raising rates. Consumers totally tapped-out . . . .

U.S. corporate bankruptcies rocketing higher (up 70% in Q2). An asset price avalanche ahead . . . .

[biglentil]

I heard Gm has suspended production on new trucks for three weeks at the same time dealers bumbed the price up $3k. Heard the same thing from a chem retailer the other day about a major glyphosate manufacturer shuttering production to limit supply.

Even though M2 money supply is dropping fast, production is also dropping and more importantly faith in our institutions is collapsing. Without faith in the long term purchasing power of the fiat currency of a nation, that currency ends up being more valuable woven into hats and bowls like the oil rich Venezuela.

[jamesb]

I heard Gm has suspended production on new trucks for three weeks at the same time dealers bumbed the price up $3k. Heard the same thing from a chem retailer the other day about a major glyphosate manufacturer shuttering production to limit supply.

Even though M2 money supply is dropping fast, production is also dropping and more importantly faith in our institutions is collapsing. Without faith in the long term purchasing power of the fiat currency of a nation, that currency ends up being more valuable woven into hats and bowls like the oil rich Venezuela.

General Motors (GM) stated that it was temporarily halting the production of its full-size pickup trucks due to the global shortage of semiconductor chips. That's the reason IMO.
Glyphosate is finally getting back down to good prices. 540 product is under $ 7 per litre, a full 50 % less than a year ago. I cant see it getting any cheaper. We will be stocking up soon. My point is that man o man every one of us can read the same thing and come to completely different conclusions. It is so very easy to find "facts" to validate our position.

[biglentil]

General Motors (GM) stated that it was temporarily halting the production of its full-size pickup trucks due to the global shortage of semiconductor chips. That's the reason IMO.
Glyphosate is finally getting back down to good prices. 540 product is under $ 7 per litre, a full 50 % less than a year ago. I cant see it getting any cheaper. We will be stocking up soon. My point is that man o man every one of us can read the same thing and come to completely different conclusions. It is so very easy to find "facts" to validate our position.

Hmm I didn't state why GM stopped production, not sure how you could have come to the conclusion that I did. I also think glyphosate is nearing its lows.

[jamesb]

Hmm I didn't state why GM stopped production, not sure how you could have come to that conclusion that I did
. I also think glyphosate is nearing its lows.

I know you didn't say why, that's why I added what I had heard. Like I said before you can find pretty much what you want to see to fit any ones narrative. Cheers

[biglentil]

I know you didn't say why, that's why I added what I had heard. Like I said before you can find pretty much what you want to see to fit any ones narrative. Cheers

Oh ok so is production not slowing???? Given the same demand less supply means consumers are willing to pay higher prices.

Econ 101

[biglentil]

A number of manufacturers were producing new inventory without chips. Chips later installed at the dealerships for things like radios and heated seats. If the chip supply is so bad now that they shuttered production of chassis completely thats serious. I imagine thats not just GM but affecting all parts manufacturers, without chips the world economy grinds to a halt. Thats not a voluntary suspension but due to an indefinite chip war and further supports my thesis. The lows are in on inputs.

[jazz]

Another quarter pt rate hike. Wonder how all those fools in TO love Justin now as they are teetering on insolvency.

So Justin is going to spend our country into oblivion while the BoC tries to tame the resulting inflation with rate hikes.

We have some really stupid people on this country. They deserve all the pain coming to them for it.

PP needs to just let this blow up and make sure the Liberals wear it forever.

[biglentil]

Yes real estate in trouble. What would go wrong has and the hurt is just beginning. . Thank the private entities masquerading as the central banks.

[jazz]

So to dilute spending we need to flood the country with millions more people. These guys are certifiably nuts.

[biglentil]

So to dilute spending we need to flood the country with millions more people. These guys are certifiably nuts.

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Doesn't even make sense increasing the population increases overall consumption which drives cpi higher.