Ssshhh….Don’t Say It!
Talk about if a recession is coming in 2023 should be laughable. Either people are lying, hiding, or their brains have actually fried and they don’t realize or remember but the silent recession began years ago. You’re in it right now whether or not you know it. In the coming years this period of time should be studied more carefully.
The first thing you need to do if you want to survive the silent recession, is admit you’re in one. Just like being a drug addict, it is very difficult to help you if you can’t admit the truth. If you’re not ready, willing, or able to admit what’s real, you don’t have to. But if you are open to honestly assessing the damage, it really requires admitting we’re in the silent recession. That’s a recession which nobody calls a recession.
From friends & family groups to the most important decision-makers in our economic system, many people fear the uttering of certain words. They think if they plug their ears and sing loudly that it will drown out the reality of the silent recession. But it will not. Those kinds of childish actions aren’t even perpetrated by kids. The boomer generation is notorious for silencing dissent within familiar hierarchy.
Age Before Beauty, Behind Intelligence & Capability
Just because elders are not knowledgeable does not mean that youth is inherently more so. However, in conversations about subjects as important as the economy, and surviving the silent recession, we gain nothing by granting a pedestal to anybody simply because of their age. Furthermore, so much of what people are facing right now is unprecedented. That means some problems now require new answers.
The silent recession looks like it actually began in Q4 of 2019. Cruise ship and airline stocks began tanking fast. Perhaps because of the prevalence of the spread of disease on these vessels all around the world, as infection fears began to spread, confidence in the live hospitality business was shrinking. In any event, well all know what happened between February and March before the government intervened.
Despite a dramatic crash in the market, total shutdown of economic activity, paranoiac fears about the future of our government, and general breakdown of the social fabric…stocks were going up for the first 18 months of “the pandemic?!” Some people explain this by saying that because the economy was slowed and people were home online with day-trading apps that they got in the game. Yes the government handed out a lot of “free” money. But if you invested that money in something risky?
It’s not free anymore. It’s not free if you put $2,400 into FTX, washed it across a bunch of other funny money, and used that as collateral for a mortgage for $240,000. You can see how easily that could spiral out of control, right? That’s the thing about a lot of the people who had money on FTX. Most weren’t just innocently saving for retirement. This platform catered to, and corrupted people into gambling.
Complicity Created The Silent Recession
The silent recession was born in moments of silence, when people who know better say nothing. More than that, if people say something but do nothing, or just say something to others who can do anything, it is fruitless. For example, dozens of people have claimed they saw Sam Bankman Fried’s fraud coming from miles away. But it only popped after I sent margin call panic shockwaves through the system. That is not something anybody in the “crypto community” would ever have done.
People blame Binance and CZ because he was in line to collect money.
He got calls just like Bankman-Fried got called. That is the only honest part of what Bankman-Fried said regarding the larger balance sheet winning out. In the case of a margin call mania moment, you need a war chest to pay people back on time. Without that, things break down. Also, given the fact that these platforms market themselves as being open 24/7 but are not capable of executing until banks open, it creates a vulnerability that can prime runs. This will easily be exploited again in the future on “tokens.”
Survival Of The Fittest Always Applies
If you want to survive the silent recession, notice when you hear real noise. Learn how to discern between speculation, editorial, and explanation of fact. Watch 5 hours of coverage on Sam Bankman-Fried and the collapse of FTX and you will not have an explanation about where the margin calls began or why they started. People are free to keep Dievest a secret, but that will not stop the silent recession. If we are going to get out of this (likely depression) horrible economic moment, it will take brutal honesty.
Those who are liars, or poisoned by illogic, will read “brutal honesty” as a directive, and they will start behaving like Elon Musk at Twitter. Being brutally honest does not mean breaking down a person’s spirit as a matter of fact. Brutal honesty means saying something like: the idea of cryptocurrency is flawed, not worthy of redemption. People can say or think whatever they want, but this concept is going away. Brutal honesty rejects the notion of acquiescence when the offending party refuses to stop being counter-productive. I don’t care how altruistic you think you are. If you’re peddling crypto, you’re next.
