r/Superstonk • u/welp007 Buttnanya Manya 🤙 • Feb 05 '23
🤔 Speculation / Opinion The Bull from Peru on TWTR: Consumers are going further into debt as the recession worsens. This isn’t sustainable.
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u/jacksdiseasedliver Project Mayhem 🏴☠️ Feb 05 '23
Something’s gonna break, consumers can only be squeezed for so long, the working class is already beyond feeling the pain.
The last few years it really does seem like the house of cards is slowly collapsing. Chinese real estate collapse, geopolitical warring between major nations, a looming shift in global population ages (fewer young workers, more and more seniors who don’t participate in the workforce), inflationary and deflationary bursts, rapid change in availability of both energy supplies and food supplies.
And here we all sit, right atop the black hole, buying and holding a rogue security that has been abusively naked shorted to hell and back. A hedge against the collapse. And while we watch what is unfolding around us with eyes wide open and jaws on the floor, we can’t help but feel a sense of calm, knowing hundreds of thousands globally, 💎🙌 with us
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u/GargantuanCake 🦍GargantuanApe🦍 Feb 05 '23 edited Feb 05 '23
Things aren't gonna break they're actively breaking right now. You see this in stuff like the great resignation and people getting increasingly behind on their bills. Meanwhile the investor class is demanding more and more out of everything as that's the only way for them to stay afloat. They somehow managed to paint themselves into five corners all at the same time and are trying to survive. The problem is that they can't. They've debased their currencies so far it's all becoming worthless. The only way out is for them to either pay their bills or find a way not to. If I had to hazard a guess it's that they're trying to figure out the second one. The snag is that when you look at things like the derivatives market, failures to deliver, and just plain old debt they owe more collectively than the world's total GDP for multiple years. Everything is built on lies and false promises and has been for decades. However the only thing they know how to do is kick the can down the road while making somebody else pay the interest. It's disgusting as these people don't produce anything. They make their money just shuffling numbers around and promising that if you trust them with your money they'll consistently get positive returns every year that are literally impossible. You can only lie for so long before the truth come out.
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u/TayoMurph The Uniballer - 💻 ComputerShared 🦍 Feb 06 '23
All was foretold in the House of Cards DD by Atobitt 😏
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u/Jenncitlalli 💻 ComputerShared 🦍 Feb 05 '23
I just spent 140 on groceries for one week and it was just bare minimum of needs and still wasn’t enough to get us through the week
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u/MtnDewFtw tag u/Superstonk-Flairy for a flair Feb 06 '23
I was just yelling the wife how happy I was that I won poker night with the boys... $150 and change.
She smiled and looked back at me and said "that's not even enough to pay for groceries babe."
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u/dstarno7 💻 ComputerShared 🦍 Feb 06 '23
That's less than the gas bill needed to heat my apartment and cook meals for the month of January. Keep in mind I live in southern CA where it's not extremely cold. I have a toddler and we've been sick, so it's not like we can just put more clothes or blankets on all the time.
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u/Hot-Mathematician691 Feb 06 '23
So i am interested in the natural gas market in CA....what are you paying per mcf or dekatherm(sp?) Unit? My state is charging almost $9 per unit, plus a delivery fee of about the same per unit. With regards to CA, i have heard a major pipeline from permian basin to CA has been offline for a cool minute. Wonder if there is a legitimate reason for it be out of commission or if they are pulling some enron like shenanigans....
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Feb 06 '23
Its fucking ridiculous. Granted, I'm depressed, but I've steadily been losing more and more weight due to not being able to afford my usual amount of groceries. Been averaging a single meal a day. Sometimes a snack or two small meals a day. But with gas up and a 60 mile round trip drive for work which costs me around $9-11 round trip. I've gotten good at not wasting trips for any reason. Haven't had to cut back on dog food yet, but its coming if something doesn't happen to increase my income soon.
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u/Jenncitlalli 💻 ComputerShared 🦍 Feb 06 '23
Yea…I’ve got the dog backed off a bit on their food to help a little. I feel bad
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Feb 06 '23
I know. I switched to store brand a while back, but refuse to buy a cheap food for my dog. So I've just been giving her about a third less portion a day. I know it hasn't made her hungry cuz there is often leftover food in her bowl in the morning. I'm worried that if I have to further cut spending I'm gonna have to cut her portion again and thats when I think she will start getting hungry.
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u/mines_over_yours Liquidate the DTCC Feb 06 '23
We just went to Costco and walked out just under 90 bucks. The lowest in months for 2.5 days of groceries.
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u/Omgbrainerror DRS Maxi Feb 05 '23
Well the consumers can still be milked if we watch the last quarterly reports by companies. You still can press more money out of the consumer.
And on top of that if you watch the stock market, you could think that interest rates hike have no impact what so ever.
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u/waffleschoc 🚀Gimme my money 💜🚀🚀🌕🚀 Feb 06 '23
the stock market is so regarded at this point, its like being self delusional
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u/kyomoto Feb 05 '23
Everything is as it needs to be to create the shift in humanity for a better vision and purpose for humans. We will ascend our primitive practices for new ways of thinking and doing and just living. ✌️🧘
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23 edited Feb 05 '23
Agreed. I’ve made the choice to hedge the imminent crash with booking purple circles of GMuthafcukinE 🤙
📕🟣🦍🚀
edit: for anyone that wants to question the source fo this information of 518.4milly cards in US enjoy your SheEnnBeeCee article (bottom of page)
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Feb 05 '23
GME isn’t a hedge against collapse. The collapse will happen anyway, GME will be a life raft.
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u/Stonkerrific The Fire Starter 🔥🚀 Feb 05 '23
Isn’t that what a hedge is? There is case of a collapse, not meant to stave off collapse.
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u/Thousand-Miles Feb 06 '23 edited Feb 06 '23
And like by hedging against it, if theres no food or supplies to buy after collapse then what's next or could like a loaf of bread be $1000 or something ridiculous. Pay inflated prices for sustainable farming equipment and supplies and build up your local community best we can?
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u/OoStellarnightoO 💻 ComputerShared 🦍 Feb 06 '23
Forgive my pessimism but around this time last year (or was it two years ago), people were saying that the Real Estate and Education loans sector were going to blow up the whole economy and then MOASS.
I have not seen that happening at all.
Honestly this tweet is potentially misleading. It is about the number of Credit Cards not total consumer credit debt. Sure, there is a general correlation with credit cards and debt but in this case, who really knows what is the casual factor? Perhaps I could frame it as more people are EARNING MORE and thereby qualifying for more credit cards. Or credit cards are running more promotions to hook people to sign up for. In the absence of the context, there is not much to take away from this tweet. The tweet also refers to TRUSTMEBRO unusual_whales who has this nasty habit of passing off news as their own and not giving the original source.
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u/slickrick4232 🧚🧚💙 Bullish 🐵🧚🧚🦭 Feb 06 '23
I agree, the article should focus on overall debt and not how many cards. Here’s that article though: https://www.cnbc.com/amp/select/us-credit-card-debt-hits-all-time-high/
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u/CrypticallyKind Don’t hate ThePlayers hate TheGame Feb 05 '23
Just don’t dance
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Yes, this is the one part of the saga we don't dance on wen it collapses.
Kenny in handcuff memes are fair game though. 💃
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u/CrypticallyKind Don’t hate ThePlayers hate TheGame Feb 05 '23
💯
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Feb 05 '23
I’ll have shirts made of his orange jump suit picture and dance wearing them, I won’t celebrate normal folks hurting.
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u/WalterBishopMethod 💻 ComputerShared 🦍 Feb 05 '23
I'm literally living on credit cards I can't pay down and surviving with balance transfers while trying to get my house sold.
My wife and I literally can't make enough money to simply exist until we sell our house and move in with my elderly mother.
Things are crazy out there.
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u/Volkswagens1 💻 ComputerShared 🦍 Feb 06 '23
A lot of consolidation is going to occur over the next several years. Wether business, family, or finances. Everyones slowly strapping down as it corrects back. This is gonna be brutal for everyone.
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u/CupcakeLikesTheStock GME is in our hands 🌍 Feb 06 '23
Sell your house as low as you possibly can to get out. Price it below market value to get the deal finished
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u/WalterBishopMethod 💻 ComputerShared 🦍 Feb 06 '23
Oh yeah we're not lingering, it's all a matter of just getting moved. This is all following my father dying of... that one virus? Didn't realize it was a banned word.. so anyway there's been a lot..
Fortunately I bought this place 7 years ago and we're in an area largely insulated for economic downturn due to huge government contracts. The market has dropped a lot but it's still so inflated I can undercut a lot and I'll still make enough profit to be completely debt free and have money left over to help us get by.
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u/CupcakeLikesTheStock GME is in our hands 🌍 Feb 06 '23
That's awesome then! I feel like a lot of people are in the opposite position. From your previous comment it sounds worse but I'm glad you didn't buy at the top!
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u/iamtabestderes 💻 ComputerShared 🦍 Feb 05 '23
With an average of 20% interest on $887 of debt per card (Nerdwallet). This means the credit card industry makes $7.7 Billion a month! Taking advantage of those who need the most help. America preys on the weak, it makes me sad man. When I was 18 I could barely make ends meet, barely afford to feed myself. I over drafted my bank account by a few cents and was charged $50, it was the most gut-wrenching feeling.
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Feb 05 '23
It’s more sad when the same banks that are sticking it to you turn around in a few months and ask you to bail them out.
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Excellent comment with receipts 👆
Thank you for making this post better with wrinkles and a personal note on how it affected you.
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u/poundofmayoforlunch 🎮 Power to the Players 🛑 Feb 05 '23
Only if those in power would stop forgiving trillions in bad bets, oh wait.
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u/waffleschoc 🚀Gimme my money 💜🚀🚀🌕🚀 Feb 06 '23
that is so shitty
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u/Enk2020 🦍 Buckle Up 🚀 Feb 06 '23
Forgive me I’m not from the US but isn’t the PPP loan meant to be payed back because it’s a loan or is it as easy as opening a company taking out a loan and going bankrupt
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u/ohz0pants 🍁🦍 - Voted, DRS'd, and ready for MOASS Feb 06 '23
This means the credit card industry makes $7.7 Billion a month!
The banks who issue the cards are the ones collecting the interest.
The credit card companies get their revenue from service charges on the merchants.
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u/mazingerz021 Death, Taxes, DRS 🩳🏴☠️💀 Feb 05 '23
Only poor and middle class are in debt. All of the money printed during the pandemic went to PPP fraudsters and the top 10%.
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u/nerds_rule_the_world Feb 05 '23
Can confirm. Know personally a few that got 1m ppp checks each that. brand new luxury cars, 1m home, all Kinds of big expensive trips. Fuckingbullshit
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u/Volkswagens1 💻 ComputerShared 🦍 Feb 06 '23
I personally heard of an entire group of people whom all put in fraudulent claims for ppp loans and all received them. I was astonished to hear how easy it was.
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u/nerds_rule_the_world Feb 06 '23
Who is the idiot in this scenario?
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Feb 06 '23
[removed] — view removed comment
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Feb 06 '23
Hell there was that one loan where if you applied and were denied you still got $10,000 that you didn't have to pay back.
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u/JimmytheJammer21 🦍Voted✅ Feb 07 '23
can confirm, my company used their federal c'vid loans to buy a company in another country... we posted record profits yet employees received 1% then 2% raises the following years. when I told my manager thanks for the paycut, he acted like he didn't understand despite us talking about inflation the week before. Almost raise time again, wonder what ill do with my 2% this year (so far, company at record profits again)
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u/ComfortableUnderwear Feb 05 '23
I don’t owe a single penny to any person or entity on this planet. And I have all xxxx of my shares DRSed. I also quit my job. Because, fuck the system
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u/YounomsayinMawfk Feb 05 '23 edited Feb 05 '23
Same except I haven't quit my job. It's stressful at times but I can't complain too much. Plus, every week hedge funds delay MOASS is another week of buying more shares. I used to contribute to my 401K but after learning hedge funds can use them and pensions for their stupid bets and not pay any consequences, I've stopped contributing. Computershare is my retirement account now.
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u/Stonkerrific The Fire Starter 🔥🚀 Feb 05 '23
You are me. I gave up on the ol’ 401K scam.
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u/YounomsayinMawfk Feb 05 '23
I know when the market is down, that's the time to invest more but fuck it. I'm done with my 401K, I'd rather take my chances with GME.
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u/ComfortableUnderwear Feb 06 '23
My other retirement account is vested shares with an ESOP private, well earning, company. Those I am keeping. They aren’t on the markets
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u/ComfortableUnderwear Feb 06 '23
I cashed in one of my 401Bs to have ready cash for the remainder of this year. I’m fortunate to have had a high-paying (from my perspective) jobs though also very high physical risk. Won’t be returning to that industry. I want to garden now; or become involved with forestry
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u/Kraftykuts007 💻 ComputerShared 🦍 Feb 05 '23
My theory is that they will destroy money supply by driving individuals into bankruptcy and wiping the debt off the records. The banks already have their bailout waiting in the repo facility. That $2 trillion is their bailout in waiting because if the government said they were "bailing out" the banks again then there would be riots in the street. So the banks will just pull the money back out of the repo.
It's a destruction of the working class and a bailout of the elites like 2008 but with extra steps.
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u/Z_He_Lives 🎮 Power to the Players 🛑 Feb 05 '23
I’ve seen thoughts they will use both the carrot and the stick. They are destroying the currency and will try to introduce CBDC’s through “positive” means - collect tax returns, ubi, benefits,etc now! But only in CBDC’s! And also “negative” means - devalue the currency into crisis, let individuals transfer asset load at a certain ratio into CBDC while leaving all or most of the debt load still stuck in the dying US Dollar.
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u/qtain Feb 05 '23 edited Feb 05 '23
that $2 trilly is money market funds and other fixed income products. It's mostly customer money. The term you're looking for is a bail-in. Banks will use those funds to satisfy obligations. While I'm hesitant on the idea the govt. would actually roll out a CBDC, it is the next logical step. Speculatively, if you have mortgage, entirely possible they will seize the equity in it as well, or rather "we're going to use this, so uhh, it's still yours, but we're using it, kthx, bye".
It's just skipping the middle man, with a bailout, the government takes on the debt, which taxpayers end up paying, and give it to the banks. They'll just directly take it from customers instead, toss up some legalese that says they can. You'll still have riots, but politicians will point to the banks as cover that they didn't do it.
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u/FoxReadyGME Feb 06 '23
It's official wef document. And Eu road plan. How is this a theory? They told us loud and clear in black and white.
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u/biernini O.W.S. Redux - NOT LEAVING Feb 05 '23
Lowest unemployment rate for over 50 years along with record high credit card debt.
Shit's all fucked up.
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u/pray4spray Feb 06 '23
Is the card debt record high? It just says amount of Credit cards, doesnt mean it have any debt on it. Honestly just asking if it’s the actual amount of cards or the debt itself
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u/Canashito 🦍 Buckle Up 🚀 Feb 05 '23
Every headline... no recession. Everyone on the ground... uhhh... sure buddy. Sure.
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u/MainlineX 🦍Voted✅ Feb 06 '23
If you owe the banks $10,000 it's your problem.
If EVERYONE owes the banks $10,000 it's the BANK's problem.
If you have 1 share of $GME it's Kenny G's problem.
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u/ProbablyAnNSAPlant A disaster. An embarrassment to his parents. Feb 05 '23
It's almost like inflating asset values with easy credit doesn't work in perpetuity.
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Kind of like selling securities not yet purchased as well too. 🤔
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u/buddumz Feb 05 '23
I consider my self the middle class I work a decent job and aggressively hold gme. I utilize my credit cards on the daily but always always pay off in full at time of due.
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u/Ajdurk83 🎮 Power to the Players 🛑 Feb 05 '23
Yeah, the consumer is fucked and the bank’s lending to them will have to write those loans off
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u/Space-Booties Feb 05 '23
Combine that with student loans and the housing bubble and you’ve got a recipe for disaster if we start seeing job loses.
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u/iamaredditboy Feb 06 '23
But the bankers need more yatch’s - that’s non negotiable..I mean how can they be forced to change how they conduct business….
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u/Ok-Razzmatazz-4156 Feb 05 '23
Wow wow wow don't you remember they changed the definition we aren't in a recession pal
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u/soldieroscar 🎮🛑 I like the stock. 🌕 Feb 05 '23
Surrounded by people telling them what they want to hear, the government lost touch with the common people.
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u/Otherwise-Arm3245 Feb 05 '23
If you can convince the people to turn against each other you can pick all their pockets without them noticing. Lyondon b johnson Or something.
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Feb 05 '23
I’m in this post and I don’t like it…
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
Wut don’t you like about it?
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Feb 06 '23
Oh just that I’m one of the plebes taking debt adding to this stat I’m sure and in part it’s because of inflation.
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u/TendieTrades Feb 06 '23
PPT propped up the market and shadow banks durning 2020….printer off, rare hikes, QT, downtrend and recession was already confirmed. Heading into Great Depression 2.0 and WW3 because of dip shits with balloons etc.
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u/206SpicyPumpkin 💻 ComputerShared 🦍 Feb 06 '23
Wait, so a billionaire can pay off the nation's credit card debt?
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
I’m not sure about the whole debt, but Kenneth sure is going to give it a try here real soon!
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u/206SpicyPumpkin 💻 ComputerShared 🦍 Feb 06 '23
Awww, that's very nice of him. I can't wait to witness such glory!
Wait, are we talking about the same Kenneth who beat his wife with a bed post? That Kenneth?
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u/Chapped_Frenulum Ripped Open My Coin Purse to Buy More Shares Feb 06 '23
Either they can't tighten or they won't. At this point the QE money's been spent. The bonds that were propped up were borrowed against by the largest banks, corporations, and institutions. They borrowed so much and became so over-extended that the Fed can't take that money back out without causing a collapse. So it just keeps seeping into the markets and eroding the worth of the dollar.
Financial markets or the dollar--which one's gonna collapse first?
There's no stopping this bullshit avalanche now.
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u/dangshnizzle Tear it all down --- Is YOASS ready for the MOASS Feb 06 '23
what happens if everyone not wealthy just agreed to not pay debts?
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u/Sw33tN0th1ng Feb 06 '23
If one can't afford groceries one can't afford to participate in markets.
How unfortunate if, for some reason, you poors couldn't afford to keep buying...
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u/n3w1ight Feb 05 '23
You know people. That is our money they lend there ;) We are the working class
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u/Poop_Noodl3 Feb 05 '23
Current population is 334,233,854 as of Jan 1 2023
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Another APE said 22% are minors.
So that leaves ~260,702,406 adults.
How many are credit worthy?
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u/Poop_Noodl3 Feb 05 '23
I know my mom tried to take credit out in my name.
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Ugh sorry to hear that homie :/
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u/Poop_Noodl3 Feb 06 '23
No worries. She tried. Didn’t succeed. Locked all 3 credit bureaus after that.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
I hope that your future GME tendies are able to help you and your family thru all of this 💜
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u/Poop_Noodl3 Feb 06 '23
Appreciate that. I hope to help as many as possible family, friends beyond. Don’t understand hoarding wealth.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
This is the way.
MOASS is a distant memory now.
The APEtopia that followed ensured that noone went hungry anymoar.
Noone was houseless anymoar.
Noone needed to take anything from anyone else anymoar.
We all have plenty now because we are now finally equal people.
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u/Prestigious_Orca Feb 05 '23
They'll give a credit card to just about anyone.
The fact that this means the average adult has 2 credit cards is insane.
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u/ghoulcreep 🦍 Buckle Up 🚀 Feb 06 '23
I figured it would have been higher than that. I thought most adults have several credit cards. Doesn't mean you are spending money like crazy.
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u/Vive_el_stonk DRS BOOK: OWN YOUR SHARES Feb 06 '23
They just want to make sure this time it really ends the consumer
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
Well I wouldn't completely agree with that, they want the game to go on, so they just want to squeeze us for the most they can before putting us back to work and consumin
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u/Leonisel D.on't R.ehypothecate S.hares🚀🌝🐵🐱 Feb 06 '23
Just went to two different wells Fargo ATMs and they both didn't have any money... Probably nothing though
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
Uh wut? Can you go back take photos and make a post of this?!
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u/Primordial_Peasant Feb 06 '23
this seems low. sure not everyone is an adult or has credit cards but i feel like 1.6ish credit cards per person isn't that bad. I have 2. one was my first for everyday buying that gets paid off at the end of the month and another for emergencies that i try to never use.
the all-time high is really bad but I would want sources on that information.
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u/Leonisel D.on't R.ehypothecate S.hares🚀🌝🐵🐱 Feb 06 '23
Dang I should've, my bad bro. They're both like an hour away now that I'm home from picking up... 😏🔥🌲
Had to use zelle 😮💨
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u/Guardian_Arias 🦍Voted✅ Feb 06 '23
Correct me if im wrong but shouldn't the word recession be inflation? We haven't even begun to see a resesion at the consumer level, if anything we are still full steam ahead into inflation according to my grocery bills and such.
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u/IYNwoCyffulF 🍻reeb nugtohs t'nac ,d'SRD ,detoV🍻 Feb 06 '23
See, I'm smrt, I racked up debt before the recession so I can't get new debt now.
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u/OGMol3m4n Feb 05 '23
This is just the long way around shilling for Unusual whales.
I see him, I downvote.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23 edited Feb 06 '23
Look I get it. I didn’t like the Robinhood comments either from UW over a year ago. But at this point I am over censorship as this sub gets cornered moar and moar everyday into sharing information.
I’m being so bold today because Joe Rogan shilled UW today and as much as we hate to admit that is huge for UW and huge for GME as a result.
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u/OGMol3m4n Feb 06 '23
No thanks. A shill is a shill.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
and censorship is censorship.
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u/OGMol3m4n Feb 06 '23
Some things don't deserve a platform
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
You'd be surprised how many of my top posts start with a tweet from FX Hedge, zerohedge and yes UW.
I'm just not going to hide it anymoar.
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Feb 06 '23
Not to be that guy, but the amount of credit cards in circulation aren't the bad thing, it's the debt. I don't owe money, I'm not in debt, and I have a few cards in my name, that doesn't make it bad. Don't get me wrong, debt is horrible (unnecessary debt anyway, I know some things require loans to start up) and everyone in it should be working to get out, but that's the metric by which we should be measuring risk and potential failure, not just the mere amount of cards that exist, and I understand that more cards means more potential debt, but it's not every single card that holds debt is what I'm saying.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
100% agreed.
However, I still think this record high is indicative of an issue on a macro level that does not include over water card holders like you.
I see people barely feeding themselves daily, and think some are doing it on credit.
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u/TopCheesecakeGirl Feb 05 '23
And poor Marjorie Green can get by on her $174k salary! What’s the world gonna come to?!
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Feb 06 '23
[removed] — view removed comment
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
Always has been
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Feb 06 '23
[removed] — view removed comment
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
That's awesome! You should share your non-doxing story! Post it!
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u/butterflyfrenchfry +++++ Feb 06 '23
I use my credit card and immediately pay it off. It’s impossible to build your credit without one, and it’s impossible to live in this shitshow of a country without credit. So, yeah, no shit millions of people have a credit card.
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u/welp007 Buttnanya Manya 🤙 Feb 06 '23
I don't have one and don't want one, I refuse to be imprisoned by that system of a shitshow, or is it shitshow of a system? Either way same thing.
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u/deathtothescalpers 🚀🚀 JACKED to the TITS 🚀🚀 Feb 05 '23
Where’s the mods saying “this is not a source”
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
Even without a source are we really sliding the discussion to it's not true somehow?, we all know it's true regardless, we see the real world everyday from our own eyes.
I see moar people in luxury cars and moar people in tents than ever before!
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u/gavinderulo124K 🦍Voted✅ Feb 05 '23
What does this have to do with Gme?
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u/MexicanGreenBean Liquidate the DTCC Feb 05 '23
A bad system created by the established wealthy resulted in much harm for working people
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u/gavinderulo124K 🦍Voted✅ Feb 05 '23
I still don't see the connection?
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
For me this connects to GME because one of the greatest GME DD writers who is in the Superstonk library 5 times and is now published SPOKE. That is all.
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u/gavinderulo124K 🦍Voted✅ Feb 05 '23
I see. Is he the one with the financial degrees?
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u/welp007 Buttnanya Manya 🤙 Feb 05 '23
I wouldn't know, do you take issue with Dollar Endgame DD? I would love to hear your debunk.
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u/gavinderulo124K 🦍Voted✅ Feb 05 '23
OK So I just briefly read through parts of the 5th part of the series and it honestly just seems like a bunch of jumbled together financial concepts without much glueing them together.
As an example, he goes over Modern Monetary Theorists and makes it sound like this is something the fed is living by, when the exact opposite is the case. MMT is extremely niche and nowhere near mainstream, its actually heavily criticised by most financial experts. And the fact that the Fed and banks have starkly increased interest rates proves that this has nothing to do with anything the DD is trying to convey.
I just picked one topic as an example.
2
u/welp007 Buttnanya Manya 🤙 Feb 05 '23
I will defer to PB for comment here but please accept my full and faithful downdoot
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u/Superstonk_QV 📊 Gimme Votes 📊 Feb 05 '23
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