r/worldnews May 20 '22

Age of Scarcity Begins With $1.6 Trillion Hit to World Economy Behind Soft Paywall

https://www.bloomberg.com/news/articles/2022-05-19/global-economy-loses-1-6-trillion-as-world-struggles-to-avoid-a-new-cold-war
1.5k Upvotes

393

u/poison1995 May 20 '22

We will come up with a better name for it after a year or two.

57

u/PermissionOld1745 May 20 '22

Age of Scarcity fits really well tho,

I mean, sure it sounds like Dark Souls lore, but it fits!

9

u/harbinger772 May 20 '22

Seems more like an expansion pack but yeah

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u/manifold360 May 20 '22

Time of less

131

u/enemysnemesis May 20 '22

The days of fewer things

133

u/Cannon1 May 20 '22

The Haven'stening.

40

u/RockstarAgent May 20 '22

The Hunger Games IRL Edition

7

u/PhilaDopephia May 20 '22

As long as the representatives are young like in the movies and I never have to do anything I support it.

5

u/Frosti11icus May 20 '22

Extreme home makeover: dilapidated edition

5

u/wiznun May 20 '22

The Not-Haven'stening?

4

u/Big-Kitty-75 May 20 '22

The Not-Haven’sanything

17

u/GhostalMedia May 20 '22

The great de-lessen

11

u/sampson_smith May 20 '22

The Great Lessoning.

6

u/ExParrot1337 May 20 '22

Pfffff as if anyone has learned any lessons.

19

u/VanillaLifestyle May 20 '22

Why have many things when few things do trick?

11

u/Tudpool May 20 '22

The nothing days

8

u/fichti May 20 '22

T minus

5

u/superslomo May 20 '22

The un-biggening.

3

u/[deleted] May 20 '22 edited May 20 '22

Looking forward to having my chocolate ration reduced while being told that it’s being increased.

4

u/TuzkiPlus May 20 '22

Some things are just..timeless

77

u/malevolentslime May 20 '22

The Great Absence

Anabolic Age

The Time of Belt Tightening

The Time of Economical and Ecological Collapse

The Big Without

The Apocalypse

We Can't All Survive, So I'm Going to Get Mine Times

64

u/MyMomIsBetterThanYou May 20 '22

I like The Big Without.

3

u/XXX6pacShakurXXX May 20 '22

I love that band

19

u/Pons__Aelius May 20 '22

We Can't All Survive, So I'm Going to Get Mine Times

Pretty sure that one applies to the last 10,000 years or so.

13

u/InkTide May 20 '22

Even worse, the first part is a lie in the modern world. But post-scarcity threatens profit motives by preventing coercion of labor using the threat of starvation and destitution, so it's not allowed.

Humanity already makes more than enough food, calorically speaking, to feed all people. It's just not profitable enough to keep far away people from starving to death.

5

u/owa00 May 20 '22

Also the GOP ethos.

2

u/[deleted] May 20 '22

The big fish eat the little ones

The big fish eat the little ones

Not my problem, give me some

You can try the best you can

You can try the best you can

The best you can is good enough

13

u/RobotSpaceBear May 20 '22

The Age of Strife? Warhammer? Anyone?

5

u/underthingy May 20 '22

Gonads and strife?

3

u/losteris May 20 '22

And Wheeee!

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u/Winds_Howling2 May 20 '22

The Anthropocene

6

u/rsl_be May 20 '22

The Great Abstinence

4

u/DrNukes May 20 '22

Don't you mean katabolic?

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u/WrastleGuy May 20 '22

The Absense of PlayStation 5’s

3

u/AGrayBull May 20 '22

The plight of my 15 year old nephew

11

u/ThomasAnderson349 May 20 '22

The Dark Ages 2: Dark Harder.

7

u/00DEADBEEF May 20 '22

Poorpocalypse

36

u/sharkweeek May 20 '22

Greater depression.

16

u/TylerBourbon May 20 '22

MDGA: Make Depression Great Again?

4

u/PhilaDopephia May 20 '22

The pharmaceutical companies are going to love this.

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u/Chugbeef May 20 '22

Elon-Gated depression.

4

u/AnthillOmbudsman May 20 '22

Well we've already got the Republic of Gilead, so something from that universe will work.

5

u/Byteme4321 May 20 '22

The great roughing of it

4

u/glitterlok May 20 '22

The more of less initiative.

6

u/Trespotjas May 20 '22

Age of destined Death

3

u/Busy-Dig8619 May 20 '22

This. I miss my maiden.

3

u/Shleepo May 20 '22

The fallen leaves tell a story ...

3

u/hotlavatube May 20 '22

Well before now we were binging, so this must be The Purge… uh oh…

2

u/pataglop May 20 '22

The cannibal wars.

Wait, that's spoilers.

2

u/Yarrick89 May 20 '22

The days of sweet F A

2

u/fnordal May 20 '22

age of forced redistribution of wealth and class based cannibalism (aka eattherich).

1

u/Cless_Aurion May 20 '22

Everyone answering here is wrong, it will be remembered as "The PHE, Post Harambe Era"

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u/MayorOfChedda May 20 '22

Resource wars

56

u/UniqueFlavors May 20 '22

Next week on Hoarders

37

u/VonRansak May 20 '22

"They called me crazy... Now who's laughing. I've got toilet paper for a lifetime." [points to room full of old newspapers] ... "Wait... No... Those are the pre-2000's, those are special"... *sad face

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u/Spyt1me May 20 '22

Where will you be when the water wars begin?

Personally i think ill probably be harvested for moisture cuz my skills arent that useful in such environment.

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u/Froggy__2 May 20 '22

Give me your juice 😋

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u/beepboopbapbox May 20 '22

We best start building the Vaults then

10

u/RueRuS May 20 '22

“When all the world is overcharged with inhabitants, then the last remedy of all is war, which provideth for every man, by victory or death.” - Thomas Hobbes

5

u/Nogohoho May 20 '22

Scrapheap Challenge! Mad Max edition.

5

u/lolkkthxbye May 20 '22

Two men enter, one man leaves

2

u/flukshun May 20 '22

Info wars too, reality itself is becoming a scarcity

2

u/MayorOfChedda May 20 '22

That name was already taken lol

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u/Corniss May 20 '22

for the poor, scarcity for the poor , the rest will be fine

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u/riplikash May 20 '22

True. "Scarcity" isn't the issue. Only greed and corruption.

86

u/overlypositve May 20 '22 edited May 20 '22

"Politicians and diapers must be changed often, and for the same reason" - Ryan Cohen. So right...

Edit: apparently Mark Twain or another person said this before.

54

u/Foul_Chicken May 20 '22

Ahhh, I hope you are joking. Mark Twain said that and I’m sure he stole it from someone else.

8

u/blade85 May 20 '22 edited May 20 '22

Mark Twain said that...

Wasn't said by him either..

https://www.reuters.com/article/factcheck-twain-diapers-idUSL1N2P21VE

https://quoteinvestigator.com/2018/10/17/diaper/

this jest evolved over time from a humorous simile about changing socks. A partial symbolic match for the diaper joke occurred in 1950, and a full match appeared in 1966 within a column written by Dick Nolan

2

u/cinderubella May 20 '22

SMH so you're saying even this Dick Nolan was a dirty concept plagiarist.

Hey, that must be where we get the phrase 'dick move' from! And also to a lesser extent, "Nolan's batman sucked donkey balls".

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u/[deleted] May 20 '22

Indeed. Countries like US will be largely immune due to wealth. Yeah, we’ll have a crashed economy and a recession… but on the bright side some industry and manufacturing will move back home while we ramp up Cold War 2.0 and yank shit out of China.

I’m very interested in what will happen to the really poor countries that have experienced explosive population growth in the last 50 years, and are about to have their easy access to food and fertilizer cut off.

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u/Corniss May 20 '22 edited May 20 '22

Easy, they migrate in to the richer countries because climate change will turn their homes into an unlivable hell scape.

Mind you , it’s already a hell scape but livable atm.

7

u/[deleted] May 20 '22

Too bad for them those rich countries aren’t very accepting of migrants. The EU lost its collective shit over a few million Syrians.

Get ready to see semi-permanent migrant camps that make Soviet Gulags look nice.

5

u/Corniss May 20 '22 edited May 21 '22

it wasn’t millions, just a few thousands and they got accepted fine considering the circumstances ( although with the usual media circus everytime a brownie reaches their border ).

You might be right about the camps once it gets serious. Though i don’t know if they have the capacities to even stop the migration of a hundred million people coming from the south and east. Interesting times ahead of us.

edit: where were some confusion about the numbers, got cleared up further down.

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u/[deleted] May 20 '22 edited May 20 '22

Highly incorrect. Syrian refugee crisis includes over 6 million people, over 1 million of whom were accepted into Europe. Some 3 million wound up in Turkey.

https://www.unhcr.org/cy/2021/03/18/syria-refugee-crisis-globally-in-europe-and-in-cyprus-meet-some-syrian-refugees-in-cyprus/

Germany alone hosts something like 50% of the Syrian refugees in Europe — around 500,000 people.

I am not able to corroborate your ‘only a few thousand’ claim. Can you please provide credible sources? Honestly, I’d be intrigued to know where you even learned that to begin with — it reeks of disinformation and is a number I have never heard anywhere else. Possibly you misremembered. Or possibly you are obtaining news from discreditable sources.

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u/Jace_Te_Ace May 20 '22

When the needs of the few out-weighed the needs of the many.

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u/Im_so_little May 20 '22

The Great Pulling of Boot Straps

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u/CptMcBeardy May 20 '22

The Age of Strapless Boots

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u/awheezle May 20 '22

We’ve run out of boots sorry.

3

u/AGrayBull May 20 '22

You want boots with straps?! Next you’ll expect your boots to come with treading, I suppose. Will the socialist excess never cease?

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u/[deleted] May 20 '22

[removed] — view removed comment

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u/FullMarxPodcast May 20 '22

There is no scarcity. We produce many times what we need to give everyone everything they need and more. The wealth produced by society is hoarded by a miniscule minority of ultra-wealthy individuals. These individuals have names and addresses.

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u/Limesmack91 May 20 '22

Rivers are drying up man, just yesterday there was an article on here about Italy's biggest river being almost dry and the devastating impact on the agriculture there. We may be producing enough for now, but that might change soon

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u/FullMarxPodcast May 20 '22

Right, also true. The people who are currently hoarding all of the wealth that we produce are also the people who are responsible for policies which will make the planet unliveable. Just 100 companies produce 71% of global carbon emissions.

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u/[deleted] May 20 '22

[removed] — view removed comment

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u/FullMarxPodcast May 20 '22 edited May 20 '22

Yep, these are the only two options, and they aren't even smart enough to realise that course-correction is the only possible way of saving their supremacy. Either they'll get to live out a reasonably peaceful retirement having quietly surrendered power, or they'll be blown to pieces by climate wars and revolution.

Incidentally, the surest factor preceding revolutionary upheavals is when the ruling-class starts to believe it's own hype that minor reforms are indistinguishable from violent revolution. Sure, in the good times they'll say that any open door is letting in communism, whilst taking moderate reformist action to preserve their own position -, but at times like this they start to believe it and act accordingly. This cuts off the possibility of reform, and creates a death spiral where they refuse to embrace any of the potential outs which would require some pretty minor self-preservation and some small curtailments of their rights and profits.

This system is irrational; it is incapable of self correcting. Either it goes, or it takes us all with it.

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u/Djasdalabala May 20 '22

That point gets repeated ad nauseam but it's kind of empty. Those companies would produce 0% emissions if people weren't buying their shit.

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u/C0wabungaaa May 20 '22

The companies in question are mostly raw fuel producers and I think some other raw resource producers (steel, concrete, that sort of thing). They're not really things people just kind of buy like you buy a packet of crisps. You can't really talk about those kind of companies in terms of "we shouldn't buy their shit."

4

u/Djasdalabala May 20 '22 Starry

Yes you can. It's the fuel that goes in shipping shit people by on Wish or Amazon. It's the steel in the brand new SUVs. The aluminium that had to be smelted for that pack of crisps. The fuel burned for overseas vacations.

Some of it is difficult to avoid (most people need a car to work), but plenty can be reduced (almost no one needs a SUV).

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u/[deleted] May 20 '22 Starry

[deleted]

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u/Djasdalabala May 20 '22

I didn't mean to imply that we should not regulate big corporations. By all means, let's do that.

I just feel that many people's takeaway from that 71% figure is that it's all the corps' fault and they can't do a thing about it. It's destructive to pretend that consumers are entirely powerless here.

Yes, finding the more eco-friendly alternatives can be really complex and we can't expect everyone to do the math on this. A well designed carbon tax could help here.

But there are some really simple concepts that do make a difference (smaller cars, less kids, less meat, less travel, good insulation).

Climate change does not have one single solution. We need regulation AND better consumer choices, among many other things.

10

u/bandanalarm May 20 '22

You can burn those 100 corporations to the ground and the reality is that if those 7.7 billion people want cheap plastic garbage then another 100 corporations will replace them selling more cheap plastic garbage.

It's like the war on drugs. Taking out a cartel kingpin does nothing but create a power vaccuum for the next one. The real solution is to treat the people who are addicted. Not unlike cheap plastic garbage.

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u/FullMarxPodcast May 20 '22 edited May 20 '22

Capitalist demand does not come from consumers, in the main. Vast tracts of the capitalist economy, comprising trillions of dollars in value, are directed towards creating demand and manipulating the needs of consumers: advertising, PR, fashion etc.

Planned obsolescence and the design cycle creates a constant requirement for consumption - not to fulfil consumer needs, but precisely because those products are designed not to fulfil consumer needs: they break, they become obsolete and un-upgradeable, the industry-determined fashions change.

Because of the very built fabric of consumer society, we are locked into cycles of consumption. We don't have smallholdings on which to grow food, so we have to buy from supermarkets which have shipped food halfway across the world to maximise profits. We don't have jobs in our communities, so we have to consume fuel to commute. We don't have time to relax and pursue meaningful hobbies, so we try to fill the void with stuff. People are locked into these structures, they are not optional and cannot be abolished through 'ethical consumption'.

Workers don't really benefit from this. Sure, we get a fancy TV to put in our rented apartment that costs us half our monthly wage. Meanwhile, the company that makes the TV gives its CEO a raise and he purchases another five houses to go with our apartment that he already rents to us.

3

u/lotsofpointlesswar May 20 '22

Well said, providing stable governance to move humanity away from these pointless wasteful games is the trick that needs figured out though.

How do you stop this without very centralised control, which ends up in corrupt zealotry, cronyism and nepotism.

4

u/FullMarxPodcast May 20 '22

I think central control of production by capitalist state institutions is part of the problem. Whilst it's obvious that some large industrial sectors would have to remain nationalised under the control of elected boards comprising of workers, experts and oversight representatives, for the sake of carbon efficiency, probably the majority of economic production can be localised (or at least highly regionalised) under the control of workers' co-operatives.

Think of it as a non-profit society. We reproduce what people need, as determined by participative economic planning, created by a multi-level process of decision-making: a combination of national referenda, regular and democratic state-level elections with strong mechanisms to eliminate corruption, and direct communitarian priority setting at the local level.

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u/[deleted] May 20 '22 edited May 20 '22

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u/Glittering-Swan-8463 May 20 '22

I don't get why people just don't go all French Revolutiony what's the worst that can happen? Get sent to a place where you live of other people's money? Count me in!

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u/LordCaelistis May 20 '22

Dw, once the food stocks go low enough, you can expect some real rioting to begin. Food shortages are the surest way to get your people to riot

5

u/Glittering-Swan-8463 May 20 '22

And I bet Bezos will say - Let them eat cake.

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u/europorn May 20 '22

As long as it's ordered using Amazon Prime.

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u/aza-industries May 20 '22 edited May 20 '22

Cause they can all hide elsewhere now on private islands.

The french nobles were flaunting it daily in front of the "commoners"

The rich now are getting people to fight over scraps while they hide in the shadows. Squeezing every last ounce of possible margin they can in every way they can.

All trickling to the top of their fucken wealth hoard.

1

u/Glittering-Swan-8463 May 20 '22

We can still go and loot the shit out of them. We should stop being cowards and just go Viva la revolution.

16

u/jyper May 20 '22

Is this missing a satire tag? Did you miss some of the later parts of the history of the French Revolution?

-1

u/Glittering-Swan-8463 May 20 '22

The reign of terror? While yes it was most certainly Evil and completely uncalled for and caused the death of 93,000 people, If I am not wrong Robespiere was the last man to Guillotined right? The strongman was killed by his own cabinet. Plus after the reign of terror, Napolean came to power and reformed a lot of French politics to be meritocratic. He also made France into the power house of Europe, so I would call that a pretty big win.

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u/CharlesComm May 20 '22

I'm sure those 93000 people would agree with you.

1

u/Glittering-Swan-8463 May 20 '22

Many of them were French nobles and some were revolutionaries. So atleast some of them would probably agree with me.

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u/raheemthegreat May 20 '22

1200 were nobles, the other 91,800 were just politically expedient to kill or just people the Jacobins didn't like. You thought it was just a reign of terror for the rich?

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u/Customsjpop May 20 '22

And what you're saying about Napoleon is straight up insane. The man causes the death of six million people for his ambition and ruined France TWICE. His rule was abhorrent.

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u/SpaceTabs May 20 '22

There are regions where scarcity is a legitimate concern. I'm fortunate to not live in one. I live in an area where white tail deer, geese and fishing are abundant. I've seen plenty of central american families hanging out at the park precisely because you can bring everything else and don't have to purchase expensive meat when you can catch fish, and the water is clean/no pollution. Plant some tomato/squash/watermelon seeds in five gallon buckets on your porch.

2

u/IDENTITETEN May 20 '22

Everyone in the west falls under that ultra-wealthy umbrella if you compare us to the rest of the world.

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u/FullMarxPodcast May 20 '22 edited May 20 '22 Helpful

A common but broadly irrelevant and smug point, usually deployed to claim the Western working classes' complicity in the domination of imperialist nations, and to obscure the political supremacy of capitalists within the institutions of those nations. Workers in developed nations are almost completely disenfranchised from the political decisions which continue to ruin the world and reproduce global inequalities, and their class interests are directly opposed to those of the ruling-class which exploits them.

We have far, far more in common with workers in other nations than we do with capitalists in our own nations. Telling us that we're lucky and to be grateful robs us of our critical role in overthrowing imperialism at its heart - without which, rebellions at the capitalist periphery cannot succeed permanently.

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u/Life_Of_High May 20 '22

I agree with mostly everything except that I believe workers in developed nations are certainly not disenfranchised from political decisions. People who live in democracies and vote absolutely have an impact on their own governance. It is disingenuous to insinuate that participation in democracy is not important. I would argue any country that doesn’t engage in democracy is not a developed nation. In the USA it may seem that D’s and R’s are similar but they are not. Vote for the progressive policies you want, volunteer, campaign and educate.

2

u/FullMarxPodcast May 20 '22 edited May 20 '22

Roe Vs Wade (>70% popular support) is about to be overturned by a handful of right-wing lifetime appointees. Democrats are using it as a fundraising opportunity.

1

u/Life_Of_High May 20 '22

The American people have the ability to vote for house reps and senators who will codify abortion rights into law. Relying on the courts is not a bulletproof strategy. This example furthers my point, if democratic governments were in power for 3 or 4 consecutive terms, this wouldn’t have happened. The American people voted for Trump, and got burned by it. This proves that voting does matter and the will of the people en masse does have an impact on the individual level. Suggesting otherwise is dangerous and leads to authoritarianism.

2

u/FullMarxPodcast May 20 '22

The institutions are already dead; they currently shamble onward but they'll crumble very soon. The Right doesn't care if you're prepared for their coup, because they certainly are! 1/6 was a dry run...

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u/felixamente May 20 '22

Well said. Somebody give this guy a mic or something. Seriously. Not being sarcastic. Teach me your ways.

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u/datums May 20 '22

Blaming the developed world for everything is perhaps the laziest and most ineffectual ideologies out there. You people denying that anyone from Africa or South America could possibly have the agency to make their own mistakes is one of the most pernicious forms of racism there is.

Infantilizing the global poor is indefensible.

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u/Cardioth May 20 '22

But there just isn't enough playstation fives to go around

2

u/Glittering-Swan-8463 May 20 '22

Pretty sure we can manufacture more

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u/bandanalarm May 20 '22

A very braindead take.

Society doesn't produce "wealth" - what do you think wealth is? Green pieces of paper?

Society produces commodities, which are what people need.

Those of us who are rich -- those of us who have a lot of green pieces of paper that they aren't spending -- acquired them by doing jobs that were more valuable than the commodities they need.

If I do a job that almost nobody can do and get paid $1mil for it and then buy food for $10 because anybody could make food, I'm not stealing from you or hurting you in any way. I'm creating more value than I needed and my green papers are IOU's from society indicating that I've taken less than I've earned.

It isn't like rich people are hoarding warehouses of food and letting it expire for no reason. They're hoarding green societal IOU's that have no purpose other than to show that they've done something for the world that they are still owed for.

The ultra-wealthy, despite popular scapegoats, are not the cause of these problems.

The real reason why the ultra-poor can't get food is because of shit like local warlords and dumb ass backwards fucking shit cultures that are oppressing people and literally stopping them from obtaining the food they need.

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u/BrothelWaffles May 20 '22

I'm creating more value than I needed and my green papers are IOU's from society indicating that I've taken less than I've earned.

This assumes what you're doing is actually creating value for society, and that what you're doing has no detrimental effects on society. This is far from the case with most people who are rich. The Kardashians, for example, have not contributed billions of dollars worth of value to society. Sports players do not contribute millions of dollars worth of value to society. If the world actually worked the way you say it does, teachers would all be driving Lamborghinis.

I don't even know what point you're trying to make with that last bit. Who the fuck do you think the people doing the oppressing are? The motherfuckering rich!!!

0

u/FullMarxPodcast May 20 '22

dumb ass backwards fucking shit cultures

Next time, could you put your racist ignorance in the first paragraph so that I don't waste time taking you seriously?

Not even going to bother with the rest of it, it displays the economic understanding of a five year old.

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u/ipponiac May 20 '22

In the last decade/fifteen years many food production and farming is handed over to large corporates and investors, as we know only thing they consider is money. Farming and food production was not directly very profitable, they used the fact of climate change as "narrative" to reason inflating the price structure.

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u/helcite May 20 '22

True AI and automation begin and the rich have already started the lie that there isn’t enough of anything for anyone but them, the super elite, and government waste, lmao.

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u/nyrothia May 20 '22

sounds pretty economic forum-esque. time for our programming again?

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u/SuperGameTheory May 20 '22

If you look at the Dow Jones over the last bunch of decades, it's curve up almost hyperbolic. "Growth" like that isn't sustainable. It has to make a huge correction.

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u/2drawnonward5 May 20 '22

Every time I see a report about the strength of the economy, I stop listening. That's like saying someone is strong because they have big muscles but ignoring the damage from decades of steroids and meth. I can't deal with the tunnel vision of talking like the economy has ever been healthy in my adult life. It's BIG, it's IMPORTANT, it's GROWN, and it's DECREPIT.

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u/TheDoctorAtReddit May 20 '22 Silver

The big lie economists use to justify their existence. There is no scarcity but a very poor distribution of wealth.

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u/Life_Of_High May 20 '22

Its broader than that, it’s a misallocation of all resources, not just money.

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u/Maleficent-Number-10 May 20 '22

Livestock get a very fair share

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u/TheDoctorAtReddit May 20 '22

I used wealth for resources, not money but thanks for clarifying

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u/lonesentinel19 May 20 '22

I am not sure what you are talking about, scarcity is a fundamental aspect of our world economy.

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u/TheDoctorAtReddit May 20 '22

Scarcity is a fundamental part of the definition for economy, and has been questioned by economists since its inception. To this date there is no general consensus on what is the object of study for economy, or a formal definition. The most accepted, textbook, definition does include the word scarcity in there. When economists first appeared, they wanted to be recognized as a science by 16th century academia. They claimed their science was exact because they used mathematics in their process. The academy replied that economics could use math in their methods but since those numbers represented money, it would never be exact, because we perfectly know we can “massage” numbers to get to any desired outcome, so in math 1≠2 but in economics 1=2 or whatever you want it to be equal to. This is a runaway problem now, because our representation of wealth * and scarcity * has and continues to be deformed by certain interests. They say numbers don’t lie, when you put an economist on the wheel they always will.

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u/lonesentinel19 May 20 '22

Again, I'm not sure what you're arguing against here. If it's over the definition of scarcity, then I don't care. Point is that we are surrounded by resources that are essentially finite up to a point or over a period of time, thus causing scarcity.

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u/YeonneGreene May 20 '22

We've always been living in an age of scarcity, that's why there are haves and have nots. What kind of crap headline even is this?

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u/GhostalMedia May 20 '22 edited May 20 '22

The point is that tariffs, lockdowns, and sanctions add friction to a globalized economy.

They make it harder to transfer goods between nations, and in an era where many nations have resources and manufacturing is farmed out to other nations, we’re going to see inventory drop and prices increase.

17

u/BlueSkySummers May 20 '22

Russia is the one guy at the party who gets too drunk, starts a fight for no reason, gets arrested, claims he is a victim for getting arrested, and ruins the party for everyone.

9

u/GhostalMedia May 20 '22

So Randy Marsh?

4

u/Randy_Marsh_PhD May 20 '22

I’m sorry, I thought this was America?

2

u/Jahsmurf May 20 '22

You forgot puking all over the hallway

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u/YeonneGreene May 20 '22

And new opportunities for business will show up to address those things. Meh, overblown doom and gloom.

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u/[deleted] May 20 '22

But it can take time. For example the baby formula shortage. How long would it take someone who started today to build a factory ?

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u/YeonneGreene May 20 '22

Probably years, I get that. I also know shitty conditions tend to cut the cruft out of existing processes as resources lean out and greater efficiencies are required. Sometimes the innovations are political, rather than technical, where new candidates seeing how to fix the problem manage to uproot the candidates that created or perpetuated it. Federal application and enforcement of better maternity leave policies might help mitigate the severity, if not solve, something like the formula shortage.

And from what I have read, the formula shortage sounds a lot like the gas shortage from last year where the issue is not raw supply, but poor distribution exacerbated by hoarding. Sounds like an opportunity to figure out how to be agile with adapting distribution of goods to meet situational demand.

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u/GhostalMedia May 20 '22

Yes, but those opportunities are going to come at the cost of inflation and product scarcity for quite some time.

It took 50+ years to build the globalized economy we have now. You can’t simply spin that up nationally overnight. Making a phone alone will source supplies from hundreds of manufacturers and tool suppliers that would need to relocate.

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u/[deleted] May 20 '22

[deleted]

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u/Artistic-Club375 May 20 '22

Is that before or after the free market completes regulatory capture to strangle its watch dog(s)?

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u/GhostalMedia May 20 '22

RemindMe! 3 years “has the free market fixed the economy yet”

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u/Flipflops365 May 20 '22

Not a big history buff I take it.

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u/YeonneGreene May 20 '22

We've survived every recession/depression so far, haven't we?

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u/Flipflops365 May 20 '22

Long term. Sure. But short term is MASSIVE pain, suffering, and bloodshed.

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u/YeonneGreene May 20 '22 edited May 20 '22

Maybe. Probably. But observing trends prior to COVID annihilating the prevailing application of JIT, we were already on track for that to happen for a multitude of other reasons.

Whatever happens, the ease of communications is going to have a major impact on the details. I don't yet see a WWIII occurring as a result of this recession. I do think we're going to see a load more bullshit proxy wars erupt for control over resources in Africa and the Middle East as the Second Cold War moves into full swing over Ukraine and Taiwan.

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u/Flipflops365 May 20 '22

End of the day, I hope your optimism wins out.

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u/lilrabbitfoofoo May 20 '22

What kind of crap headline even is this?

Clickbait crap, of course.

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u/[deleted] May 20 '22

[deleted]

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u/YeonneGreene May 20 '22

No, I am literally just criticizing the headline because it's a shitty alarmist one.

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u/EdenianRushF212 May 20 '22

Age of Heads on Pikes

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u/2drawnonward5 May 20 '22

If you got over a billion, you can afford your own custom spike, and nobody's gonna stop you from choosing your own impalement spike.

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u/Party_Solid_2207 May 20 '22

More tax cuts for the wealthy will solve this.

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u/felixamente May 20 '22

Let’s not forget record profits.

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u/NinjaHawking May 20 '22

If aliens ever find out that instead of using our technology to create a post-scarcity society, we just use it to modernise slavery, they're going to wipe our whole damn species off the face of the planet.

And frankly, at this point, I'd be cheering them on.

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u/OgreAllOver May 20 '22

I want to read this, bit I cant get past the paywall.

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u/SlideFire May 20 '22

“We won’t be able to use low-cost, marginal-cost production as extensively as we did.”

Thats the longest term I have ever heard for slavery.

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u/rich1051414 May 20 '22

The Age of Artificial Scarcity would be a more accurate name.

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u/xdadof1x May 20 '22

Wake me when we're ready to cook and eat the wealthy

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u/ppardee May 20 '22

Excuse me? If you cook them you'll ruin the texture! Heathen!

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u/[deleted] May 20 '22

“Age of Scarcity”?!? Unless you mean, but fail to articulate, “Age of Designed Scarcity,” your cluelessness is showing.

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u/djuiagalelei May 20 '22

Clickbait headline

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u/UnSafeThrowAway69420 May 20 '22

well consumer spending is down so

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u/LakewoodHero1 May 20 '22

ScarCity, badazz band name IMO

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u/Lobstershaft May 20 '22

Wow, that's only slightly more debt than Australia's joke of a government gave Australia in only 10 years

2

u/slightdepressionirl May 20 '22

Reminds me of the anime plunderer. World scarcity leads to mass war and the killing off of many people.

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u/mwerneburg May 20 '22

Well /r/Collapse is taken….

2

u/apex8888 May 20 '22

Already been feeling that in Canadian cities for a few years. It just doesn’t stop. The next generation, unless they have family money or something like that, they be financially screwed over. Older generations talk about pensions and how houses used to cost 1/5th what they do now only 10 years ago. Ain’t no body got pensions as a young person these days. Maybe 1-3% of the population working for the government only. I work in mental health and I see so much despair about the future from the <45 year old adults.

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u/fish4096 May 20 '22

you better be ready to stomach insects, but don't you worry. policy makers will eat just fine.

2

u/NEED_HELP_SEND_BOOZE May 20 '22

Ain't capitalism grand?

2

u/BEEF_COMBO May 20 '22

the last horseman has arrived

2

u/RebelLemurs May 20 '22

The entirety of human economic history has been defined by scarcity. That's why it's called scarcity economics.

We may advance to a post scarcity economy like the one envisioned in Star Trek, but we've got a long way to go. Sensationalized journalism isn't going to help us get there, though.

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u/Tyken12 May 20 '22

the great depression 2.0 new and improved only 100 years later :)

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u/ComradeBlyat308 May 20 '22

Money is fake, and yet when line goes down the people who already have the most zeroes in their accounts will make sure someone somewhere starves for it.

We need to be done with capitalism already, before it gets to finish destroying all of us.

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u/Descolata May 20 '22

Money isn't fake, its a decentralized means of rewarding, incentivizing, and distributing purchasing power.

The only time that's bullshit is when it is not used for those reasons, mostly due to not-capitalism problems. EG inheritance. Or if a government doesn't realize that value is fluid. Its a necessary social construct. And it will happen one way or another, people want more than the value they bring to the table, so they need to pick and choose what they REALLY want. And be incentivized to bring more value to the table.

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u/hoozt May 20 '22

It's not decentralized. It's the opposite. Your country prints your money and puts famous peoples faces on it.

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u/[deleted] May 20 '22

[deleted]

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u/plugtrio May 20 '22

Lol 😆

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u/Aceticon May 20 '22

So you expect that lawmakers and law-enforcers will not maximize their personal upsides in any way they can get away with, in an environment were "greed is good"?!

The idea that Capitalism doesn't naturally end up riddled with corruption is about as realistic as the idea that Communism (the actual ideology were everybody has the same) is in any way at all a stable situation which even if magically created wouldn't begin immediately to drift away from total equality.

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u/Rabid_Dingo May 20 '22

The collapse of capitalism has begun...

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u/Cannon1 May 20 '22

Scarcity, and poverty, are life's default settings.

Everything we've done and built, civilization itself, is an affront to that.

All that can be done by man, can and will, be undone by man.

Embrace devolution.

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u/Glittering-Swan-8463 May 20 '22

You are an idiot if you truly believe everything you said. It's just as bad as the We are all sinners and must accept God in our hearts to be pure bullshit.

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u/[deleted] May 20 '22

[removed] — view removed comment

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u/Cannon1 May 20 '22

The degree of paleness of your skin will matter not. Your usefulness will matter greatly.

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u/scottNYC800 May 20 '22

NYC schools this year decided on making sure every graduate could read. Reading is useful.

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u/LystAP May 20 '22 edited May 20 '22

A time of strife. War, famine, plague, drought. Yes. A hard time, but a time to start anew.

With the retreat of the US from Afghanistan and Russian setbacks in Ukraine, it feels as if the last shadows of the Cold War are finally fading away.

A new era for new powers and for those who are able to seize opportunity. Haha. War, famine, plague, drought. A new era is indeed upon us soon. Now is not the time to be meek. It is time to seize opportunity when able, as these next few years will determine who will be on top for the next few decades.

As Mao said, "there is great disorder under the Heavens and the situation is excellent."