The Original O'l Farts Club.

[Dime]

I think a recession is around the corner,it's pretty slow for work in my area,I supply aggregates for construction and it's dead. the Gordie Howe bridge and Stellantis was the last big run we had,we are waiting for Crown Royal plant but nobody wants to spend the money.

 

[Boo]

I think a recession is around the corner,it's pretty slow for work in my area,I supply aggregates for construction and it's dead. the Gordie Howe bridge and Stellantis was the last big run we had,we are waiting for Crown Royal plant but nobody wants to spend the money.

Along with the recession, which is already here, we’re just not aware of it, World War III that are doorsteps, and the president is egging them on… no politics here, just an observation

 

[Putembk]

I think a recession is around the corner,it's pretty slow for work in my area,I supply aggregates for construction and it's dead. the Gordie Howe bridge and Stellantis was the last big run we had,we are waiting for Crown Royal plant but nobody wants to spend the money.

I hope it's only a recession.

 

[cola]

That is when a large amount of mortgages renew,I just meant more people will get hit with the hike,still the same, just more of them which will impact the economy in other ways .

Curious where did you get your statistical data from?
Fixed rate loans, which are the vast majority now, are not variable and don't adjust.
ARMS are variable, but after the last US banking crisis are very hard to quality for.
Likewise the interest only NINJA loans they were paddling just before the last crash.
These are not being offered anymore, and qualifying for an ARMS loan isn't easy.
The next reset date for those is June 1, 2026. But there will be no avalanche like before.

 

[Dime]

I'm going by the real estate frenzy during covid,I hope you are right about it being milder. Many didn't sign fixed rate and many won't be offered the choice if they have any blemishes. I'm in Ontario Canada though,it may be better if you live somewhere else but it's pretty quiet in my area. I went all last week and up to today with less than a dozen customers. Normally I would have 200-400,this is usually the busy part of the season.

 

[Dime]

4years ago I moved 4000 metric tonnes a day,couldn;t keep it on the dock,this year I haven't even moved 6k total and most of it was shouldering in May.

 

[SubGirl]

I think a recession is around the corner,it's pretty slow for work in my area,I supply aggregates for construction and it's dead. the Gordie Howe bridge and Stellantis was the last big run we had,we are waiting for Crown Royal plant but nobody wants to spend the money.

Nobody wants to work here. Tons of work opportunities in the trades but young folks don’t seem to want it like I did when I was younger. There is big money in plumbing but my nephew who owns a 60 year old plumbing company can’t even get helpers or apprentices. plenty of work in Virginia. I don’t get it…

 

[Dime]

It was like that here too for a while and everyone got spoiled and lazy ,the small businesses couldn't afford to pay $17 an hour to people who couldn't care less if the employer made a buck so a lot of them folded,our local refineries are talking about heading part of their processes to Texas and they are the heart of our local economy ,the plastics plants are leaving due to emission challenges and now it's stagnating.

 

[Ringodoggie]

The fall of the great Greek, er ah, Roman, I mean British, er ah, American Empire.

Everybody has their turn.

Best thing to do, as always, is go with the flow. Look for opportunities and try to avoid pitfalls.

It's a batshit, fucking crazy 21st century and ain't nobody knows shit what's coming. LOL

Thank God I'm old. LOL

 

[Partyboobs]

There is a new season of Shoresey I believe.

I've seen season 1 but haven't gotten to 2 yet!

 

[Putembk]

The fall of the great Greek, er ah, Roman, I mean British, er ah, American Empire.

Everybody has their turn.

Best thing to do, as always, is go with the flow. Look for opportunities and try to avoid pitfalls.

It's a batshit, fucking crazy 21st century and ain't nobody knows shit what's coming. LOL

Thank God I'm old. LOL

Happening right before our very eyes. To bac the younger generation of nonconformists won't realize it until it is to late.

 

[cola]

Happening right before our very eyes. To bac the younger generation of nonconformists won't realize it until it is to late.

Not going to spend my time worrying about what happens to Generation X, Y, or Z. They can take care of themselves. And, it's important to remember that at least 90% of what you worry about never happens. Never.

How Often Do Your Worries Actually Come True?

Almost never, according to a new study of individuals with intense chronic worries.

www.psychologytoday.com

I started working delivering papers when I was 9. I had regular shoveling and lawn and garden jobs thereafter, through high school. If I wanted more than my small allowance, my folks told me that I could work. So I worked. Father passed early and with a crippled mother I paid my own way though several college and degree programs.

I've worked hard to get debt free with houses paid for as well as cars. I have zero loans and zero debt. Not adding any. Didn't happen by accident. Of course luck comes into play, but in life you have to take the good, with the bad.

As I said before we are all ol farts on this board. My kids can bust ass just like me. Good Luck Follows Hard Work.

 

[pop_rocks]

The fall of the great Greek, er ah, Roman, I mean British, er ah, American Empire.

Everybody has their turn.

Best thing to do, as always, is go with the flow. Look for opportunities and try to avoid pitfalls.

It's a batshit, fucking crazy 21st century and ain't nobody knows shit what's coming. LOL

Thank God I'm old. LOL

"...
So Eden sank to grief,
So dawn goes down to day.
Nothing gold can stay."

stay golden pony boy

 

[Littleleaf]

Getting 70 + winds and there is baseball hail just east and then west of us.

Pick of the storm coming in.

 

[Littleleaf]

Before the storm, some suns.

 

[dogzter]

Hold on to what you have same as it ever was I reckon.
Cool front coming through tomorrow may see some flurries.

 

[HempKat]

Hello HempKat, We like the mix of beef and pork that's our favorite to make a blend of meats. We have used sausage meat but were unsure if we cared for it. Bison is out of the question, I was given about 40lb of bison meat one time. We eventually gave most of it away, it's very lean and not out preferred taste. My wife and are I guess fairly traditional in our tastes. My son and family are world travellers and are always trying to get me to eat something different. Most of the time we just eat what we are familiar with.

Good day to you Hempkat

Yeah, I only mentioned bison because I heard it's a lot like beef and it's one of those meats people either love or hate, kind of like deer meat. I guess the same is probably true for lamb otherwise you would see it in the store more often. I personally enjoy the flavor of lamb. A tradition in my family was to have a roast leg of lamb for Easter dinner which is where I learned to lke it, especially with mint jelly.

 

[HempKat]

Nobody wants to work here. Tons of work opportunities in the trades but young folks don’t seem to want it like I did when I was younger. There is big money in plumbing but my nephew who owns a 60 year old plumbing company can’t even get helpers or apprentices. plenty of work in Virginia. I don’t get it…

Too many young people bought into the hype that if you get a 4 year degree you're almost guarnteed a 6 figure income in a nice comfortable office. That's why student loan debt is such a big problem in the US. Which is sad really, considering that when we were young a solid trade job while perhaps a bit more physically demanding was just as respectable as some corporate job. It still is really and there is more job security in the trades then in the corporate world.

 

[Boo]

mmm, snacks...

 

[cola]

Back on my hobbity-horsie again. Just to show you I am not the lunatice fringe regarding the financial atom bomb about to go off.

Here is a C&P:

Current Context (as of June 2024)
Current Gasoline Prices: Around $3.50 to $4.00 per gallon in the US. (an average. Out here it is consistently over $5.35.

Inflation: Higher than average due to various factors including supply chain disruptions, economic policies, internal USA political, and global events. Projected to run at some level OVER 100% per year by the end of the 2nd year post agreement lapse.

Potential Projections
Fiat currency undergoes significant devaluation as a result of the lapse of the Petrodollar agreement. We can draw parallels with past hyperinflation scenarios, although the actual impact will depend on specific circumstances. Here's a hypothetical progression over the next few years:

Short-Term (1-2 Years):

Inflationary Surge: Rapid devaluation of fiat currency could lead to a surge in gasoline prices.

Possible Price Range: $8.00 to $13.00 per gallon.

Mid-Term (3-5 Years):

Continued Inflation: Sustained inflation could further push prices up, especially if alternative energy sources aren't sufficiently developed to offset demand.

Possible Price Range: $17.00 to $31.00 per gallon.

Long-Term (5-10 Years):

Market Adjustments: Potential stabilization through new economic systems, adoption of cryptocurrencies, or a new form of backed currency.

Possible Price Range: Prices could stabilize but remain high compared to historical norms, possibly in the range of $28.00 to $52.00 per gallon, depending on the success of economic transitions and energy innovations.

As you can see, AI thinks that the FRN (Federal Reserve (debt) Note, is going to be very worth-less in a short time. Note these gasoline price projections are NOT taking the compounding impacts of other inflation such as silver which is used in the refining of gasoline.

Not sure where you get your data from. And, for reference, the Saudi Riyal remains pegged to the USD.

Saudi's have been trading, and willing to trade oil in a basket of currencies for quite some time.
Eventually, of course, converting the bulk of it back into US Dollar related financial instruments.
There was no shock wave in the markets, which there should have been, if of great importance.

As to your predictions on the price of oil - you must have a crystal ball better then the rest.
The world's major players trade both currency & oil markets. And they've fluctuated normally.
I can only wonder how the Kingdom will continue to get rich with no one able to afford gas.

There never was a factual exclusive deal that Saudi's had to trade every drop of oil in US Dollars.
Given the choice between holding Yuan or Dollar (USD), that's an easy one. They like Euro too.
In January 2023, Saudi Arabia formally announced they would trade oil in other currencies also.

Brent and WTI are both future traded in US Dollar denominations. Oil has gone up slowly recently.
And the US Dollar has slowly risen too, and been stable. With no abnormal perceivable fluctuations.
We should see some panic and disparity if in fact the major players are concerned with this. Not.

The Saudi Kingdom is as greedy as ever, & wants to pull away from any perceived sole nation bias.
And, of course, there is the possible leverage that is attached to any future US - Saudi agreements.
The referenced pact ended on June 14, 2024. Markets don't lie. And they dd not noticeably change.

I am providing a link to an outside the US publication so that one won't perceive any overt bias here:

Did Saudi Arabia really end petrodollar deal? UBS economist clarifies

Reports of Saudi Arabia ending petrodollar deal sparked online discussions about the potential decline of the dollar as the world's reserve currency.

www.indiatoday.in

Here is another with a little more in depth explanation as to what actually did, and is, transpiring, today:

US-Saudi Arabia security deal could seal future of petrodollar | The National

The kingdom is finalising a defence treaty with the US, which is part of a broader package, reports say

www.thenationalnews.com

Here is a last link that will allow you to do a much deeper dive, if so interested, with numerous links:

No proof Saudi Arabia will stop using US dollar for oil

Is Saudi Arabia abandoning the U.S. dollar for its oil sales? A June 13 X post that purported to show "breaking news" cl

www.politifact.com