>>82240974in case anyone wants to know what's going on with the global economic meltdown, here's the rundown for retards
>japan's economy was fucked up for ages and had a $5t (USD) sheet to balance out and wanted to get out of buying bonds after several years of having a zombie economy>in 2010, they said fuck it, we're taking interest rates to zero and in half a decade, that sheet will be cut in half and be more manageable>interest rates in actuality were (probably) lower than zero>this allowed pretty much anyone to borrow a shit ton of yen, turn it to USD in the form of an IOU in yen, and then invest that however they saw fit since the debt caused by the yen was either so small or they'd get a return on it, so all debt is effectively in yen but with USD purchasing power>FREE MONEY!!!!!!!!!!!!!!!!!!>this ends up pumping at least $15t USD into the global market>problem is, the ghost of COVID and inflation decided to fuck the world, Japan especially>Bank of Japan going "oh shit" after seeing the yen progressively slide decided to raise their interests rate from negative / zero to 0.25%>this means that the yen is now suddenly surging because it's in such wide circulation and attached as an accidental reserve currency>problem is, this means that all the debt accrued from the yen-USD combo is now poisonous since the yen is appreciating while literally everything else (stocks, debt, etc.) are rapidly accruing more debt because the yen is now worth more>this also means that literally every other currency in the world gets utterly fucked by this>DUMP EET remember the US was supposed to cut interest rates soon? problem is if they do that emergency now and the markets continue to crash, this will just accelerate the yen strengthening in order to stave off a depression and the cycle continues. we're in for an actual no-lube recession at the bare minimum right now and it's gonna be a hell of a lot worse than the one in 2008. everyone's going to get fucked, even those with pariah economies
