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This is sad. This was avoidable. There’s no recession as far as the eye can see. There’s a crypto recession. Let’s go back to building real tech.
by anshublog 4y ago
This is sad. This was avoidable. There’s no recession as far as the eye can see. There’s a crypto recession.
Let’s go back to building real tech.
- puranjay 4y agoThe yield curve says otherwise. You won't feel it until Q4 2022 or Q1 2023.
- krzyk 4y agoHave you seen stock market? They are crashing also, this is recession.
- smilebot 4y agoBetter believe in recession, you're in one.
- choeger 4y ago>There’s no recession as far as the eye can see. Back your pardon? The Fed is expected to raise the interest rate by 0.75% in September, IIRC. If that's not a recession on the horizon, then what is?
- freeone3000 4y agoTwo straight quarters of declining GDP. Merely raising interest rates to a sane figure (still below 3%!) isn't recession-causing in any sane economy.
- atlasunshrugged 4y agoThey might actually do so this week if the news is to be believed https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-the-possibility-of-bigger-fed-interest-rate-hikes-ahead.html https://www.cnbc.com/2022/06/13/markets-are-now-bracing-for-... https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rates-by-three-quarters-of-a-point-this-week.html https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rate... edit to add second non-paywalled link
- paganel 4y agoI was about to say that waiting till September might be not ideal when it comes to battling inflation.
- melling 4y agoRaising rates has a lagging effect. That results in the economy won’t be felt until next year. One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. “Money” shouldn’t change in value so quickly.
- matwood 4y ago> One of the benefits of crypto was supposed to be that it was uncorrelated to the market, etc. Crypto may or may not have its own issues, but all assets tend to suffer 'correlation breakdown' during market volatility.
- deleted 4y ago[deleted]
- tobltobs 4y agoWe would still be below 2%. Interest Rate in the United States averaged 5.44 percent from 1971 until 2022.
- JKCalhoun 4y agoStill waiting for the banks to raise my saving's interest rate to 70's level. ½ percent doesn't cut it.
- ceejayoz 4y agoBuy I Bonds. 9.62% https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_ibuy.htm https://www.treasurydirect.gov/indiv/research/indepth/ibonds...
- JKCalhoun 4y agoIs there a "recession" in the rest of the tech industry? I took that to be the point of the person you are replying to.
- mepiethree 4y agoYes? Many stocks are down >50% and companies are announcing hiring freezes
- ethanbond 4y agoThey raised interest rates several times over the last year. Of course from any point in time a recession is “on the horizon,” but this is not the cut and dry predictor you’re making it out to be.
- cj 4y ago> This was avoidable. There’s no recession as far as the eye can see. Can you elaborate on how the situation we're in was avoidable? Also curious why you think there's no signs of a recession.
- truthwhisperer 4y ago
- iso1631 4y ago> Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022 Any bets it's going to be positive in Q2 with the ballooning oil prices?
- HHC-Hunter 4y ago>There’s no recession as far as the eye can see. You cannot print money nigh on end. If you did not see this downturn coming in the markets, I have a bridge to sell you.
- johnbellone 4y agoWhere do you live?
- rvz 4y ago> There’s no recession as far as the eye can see. There’s a crypto recession. Don't be the guy who replied to my comment, waiting for the results to tell you that it is a recession. [0] If you are preparing now, you're almost too late. Only the paranoid survive. > Let’s go back to building real tech. Like the spyware laden software made by the likes of Meta, Apple, Google, Microsoft, Amazon that they are building? No worse than crypto I'm afraid. The free-software foundation are still waiting for you and others for 37 years to stop building non-free software riddled with surveillance and tracking. But neither that nor crypto is going to stop is it? [0] https://news.ycombinator.com/item?id=31441710 https://news.ycombinator.com/item?id=31441710