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16

Mysterious warning from Finnish economist

submitted by Conspirologist to MeanwhileOnTwitter 2.7 yearsSep 25, 2022 08:18:14 ago (+16/-0)     (i.redd.it)

https://i.redd.it/szqpu4xnszp91.jpg



19 comments block

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[ - ] Laputois 10 points 2.7 yearsSep 25, 2022 09:16:53 ago (+10/-0)

I learned a long time ago. When an economist says anything publically it's a safe bet to go in the opposite direction. In an inflationary recession you should spend money like it's going out of style. Because it is.

[ - ] giantprick 4 points 2.7 yearsSep 25, 2022 13:19:45 ago (+4/-0)

This is some random asshole nobody knows giving propel vague instructions with no explanation.

Anyone who doesn't kick op in the balls and call this faggotry is a retard

[ - ] 385404368915 0 points 2.7 yearsSep 25, 2022 13:27:28 ago (+0/-0)

This cunt does nothing but post low effort useless crap.

[ - ] usedoilanalysis 1 point 2.7 yearsSep 25, 2022 15:18:21 ago (+1/-0)

Do you realize how lackluster retail is right now? No one is spending money right now, credit is going through the roof and people are holding on to their liquidity.

[ - ] PrincessRobotBubblegum 6 points 2.7 yearsSep 25, 2022 08:52:10 ago (+6/-0)

Hmmm.

He appears to be under some impression that currency will not be without value.

That’s actually an optimistic sign.

[ - ] La_Chalupacabra 3 points 2.7 yearsSep 25, 2022 13:14:21 ago (+3/-0)

Currency may certainly retain its value, but only if you can hold it.
If there's a bank run, a bail-in, or outright freezing of accounts for whatever reason, then the poorest man with a fistful of dollars is richer than anyone with their money on the bank ledger only.
That may be the message he is trying to convey.

[ - ] Sector7 1 point 2.7 yearsSep 25, 2022 14:51:37 ago (+1/-0)

Are there people who "let others hold their money"?

[ - ] usedoilanalysis 1 point 2.7 yearsSep 25, 2022 15:20:38 ago (+1/-0)

There's some logic to be extrapolated from this, let me elaborate. If interest rates keep rising that makes the price of material goods lower to compensate for the increased interest. If you have liquid assets then perhaps there is opportunity to get stuff cheap.

[ - ] Laputois 3 points 2.7 yearsSep 25, 2022 09:40:22 ago (+3/-0)*

You want some good short term advise? If you do not have a fireplace install a franklin in your house, if you do have a fireplace install a fan driven stove insert to make it more efficient. Too late to cut wood for this season, if you buy it, do it now, when it gets cold gas and electricity prices are going to explode, so the price of wood will too. Buy it now while it's still reasonable.

[ - ] Conspirologist [op] 1 point 2.7 yearsSep 25, 2022 09:42:17 ago (+1/-0)

I think the same.

[ - ] La_Chalupacabra 1 point 2.7 yearsSep 25, 2022 15:14:26 ago (+1/-0)

The house I grew up in had an old convection-style fireplace.
I ended up adding a couple duct fans with baffles and was able to heat most of that half of the house with wood chips I got from my neighbor who owned a tree service business.
Saved us a ton of money.

[ - ] usedoilanalysis 1 point 2.7 yearsSep 25, 2022 15:22:23 ago (+1/-0)

Does this mean more people are going to travel to Miami for the winter? If electricity costs double your rent, maybe it's cheaper to stay in a hotel or short term rental. That could bring a nice chunk to the local economy, but the winter months are usually booming for South Florida.

[ - ] NaturalSelectionistWorker 3 points 2.7 yearsSep 25, 2022 09:10:42 ago (+3/-0)

Cannot tell publicly why, but get a few weeks worth of canned/dry food and a few hundred rounds of ammo, and keep it.

[ - ] Doglegwarrior 2 points 2.7 yearsSep 25, 2022 17:13:49 ago (+2/-0)

I need to buy more gold and silver

[ - ] _Obrez 1 point 2.7 yearsSep 25, 2022 15:11:11 ago (+1/-0)

Didn't ukrain quietly impose digital currency in the middle of the war?

As mentioned by others you shouldn't save during high inflation, the only conce8vable reason to horde cash in this long inflation period would be if bank runs due to mass inflation or perhaps laws intersecting economic and military policy would block your bank accounts.

China's government is just taking money straight from bank accounts.

He might be warning about the integrity of the banks or a limit imposed by government on physical cash holdings.

[ - ] Crackinjokes 1 point 2.7 yearsSep 25, 2022 12:03:30 ago (+1/-0)

You know and it's attempts to file war against the West Russia could always deploy something that would bring down the online banking world in which case it would be impossible to pull any cash out or transact digitally.

[ - ] Crackinjokes 1 point 2.7 yearsSep 25, 2022 12:02:36 ago (+1/-0)

All the big thing that has apparently happened is there has been some challenge to the leadership of china. Now I have no idea how much Chinese banks are tied in with English and other Banks but I imagine it's all a huge intertwined mess and almost all banks are completely insolvent. So it may just be it would be difficult to pull any cash out of any account. Not to mention the fact that the war in Ukraine which is really a war between Russia and the Jews running the world does seem to be escalating.

[ - ] Spaceman84 1 point 2.7 yearsSep 25, 2022 11:08:54 ago (+1/-0)

If this got traction, inflation, liquidity and monetary velocity would decrease in the short term. But normies are impulsive consumers living paycheck to paycheck. No ability to set money aside.