anticipated recession 
in history never came 
There is no recession 
https://www.cnbc.com/select/us-credit-card-debt-hits-all-time-high
https://www.cbsnews.com/news/homes-for-sale-affordable-housing-prices
Dont believe your lying eyes 
, its not a recession if we dont call it one
I see the poors are pretending to be big wallet niggas again est. 2016
Hello, welcome to 'I see the poors are pretending to be big wallet gangstas again'
This hole exists as a safe space for refugees from the Facebook(MetaTM groups of the same name. Of which there have been several iterations. We mostly exist to poke fun at the state of living in poverty. While it oftentimes is unavoidable, we do aspire to not be meanspirited. Over the years we have co-opted the term 'Peak Poor' to being someone who exudes poverty, regardless of their actual net worth. Trump and Elon both exhibit the peak poor ethos from time to time while still being the top 0.000001%. You can do something peak poor and still be a good person or a generally adjusted one. We all have a bit of poor in us.
We basically fill a niche similar to fatpeoplehate with a bit less actual malice.
PeakPoor is shotgunning mountain dews at 5 years old.
PeakPoor is not people dying of poverty. While technically the greatest heights of poverty is succumbing to it this is not funny, and is a failure
of capitalism. We do not make fun of poverty to be mean spirited such as that.
Read the room, if it's punching down too hard or really digging into someone whos a sympathetic character it doesn't belong here. (basically READ THE ROOM)
Sitewide rules apply
other rules
Subscribe to this hole, it's important that we get our numbers up. Love numbers = peak poor
Bonus points for making your post title some variation of peak poor. (Pinnacle of Poverty, Prowess of the Penniless)
I am looking for a mod who will help me grow this place and encourage the facebook community where the majoryity of our members reside
to migrate. Contact me if interested.
I really do love you all so very much, i'm even spending drama coin to get some banners and marseys. thanks for being a part of the community.
Jump in the discussion.
No email address required.
ahh yes the economic experts of rdrama!
it's like reading 2012 reddit with "MUH DEBT!"
you have no clue about what any of this means. Literally, using debt as leverage for a government is fricking smart. the alternative is to raise taxes like crazy.... it is NOT a "future problem" with having debt as a soverign.
Jump in the discussion.
No email address required.
Kick the can! Kick the can!
Jump in the discussion.
No email address required.
More options
Context
Maybe, maybe not. Butt what you just said makes me doubt you do.
until its not. Just ask cyprus, zimbabwe, or mylasia. You convey your thoughts like a dolt.
!slots111
Jump in the discussion.
No email address required.
Okay how about countries that are super powers with hundreds of military bases in other countries and a currency that is used between nations and corporations all around the world?
You know like a currency that if it tanked would frick over everyone and not just the nation that issues it.
What's their track record with debt?
Jump in the discussion.
No email address required.
the USSR had a lot going for it until it didnt
Huh, is that the system that's been inexistence for only fifty years? The fiat fiscal system that abandoned the gold standard and has no intrinsic value backing it? I guess we're also supposed to believe that that will not only remain stable, butt certainly wont be commandeered by multinational interests that want to enslave us all.
It also amazes me how you zeroed in on the debt thing and jot the other metrics I pointed too. I guess the national debt thing is only a huge deal in your mind when its about to shut down the government, and maybe not even then. Butt you cant look around and tell me that everything isnt more expensive and that average wages arent being outpaced by inflation. Groceries, housing, and gas all cost more and the average person is taking on more personald ddbt to pay for it as their wages arent rising at the same pace.
!slots111
Jump in the discussion.
No email address required.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
The debt ceiling just got 10ft higher!
Jump in the discussion.
No email address required.
More options
Context
It's just kicking the can down the road. Also, they gotta tax more, reduce spending, or
borrow more to pay off the interest. They can also hose creditors by inflating the currency and paying off debt with less valuable money. 
None of these are good in the long-run, but voters and politicians don't care about that, so
.
Jump in the discussion.
No email address required.
More options
Context
More options
Context
wjat the frick
Jump in the discussion.
No email address required.
!slots111
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
That is not how leverage works
Jump in the discussion.
No email address required.
it is EXACTLY how fricking leverage works. 2023 has even brought the age of LEVERAGED BUY OUTS of fricking companies lmao
Jump in the discussion.
No email address required.
The way the banking system works, much of the debt goes to bank reserves and increases the money supply (thus inflation). This is not really borrowing so much as just printing digital money except the gov still pays banks interest.
Leverage increases returns and risk for the equity holders by taking on debt which must be paid first, but at a lower rate.
What returns is the government achieving by handing everyone checks during covid?
If you're only arguing against the alternative of taxation, the point of not borrowing is it keeps the budget in check. The gov is not borrowing because "levering is efficient for returns".
Jump in the discussion.
No email address required.
BANKS DO NOT INCREASE THE MONEY SUPPLY
not necessarily
US covid response is not based on debt
Jump in the discussion.
No email address required.
Jump in the discussion.
No email address required.
how fricking r-slurred are you?
Jump in the discussion.
No email address required.
I genuinely believe this isn't a troll, you're just actually r-slurred.
Read again and tell me about the central bank's reserve ratio, because this is the first time I've heard of it.
Jump in the discussion.
No email address required.
a bank does double entry bookkeeping u slur, it does not increase money supply. Have it trades assets for their current value with assets for their future value. The leverage off of liabilities does not increase the money supply
Jump in the discussion.
No email address required.
More options
Context
More options
Context
Think about how rslurred you are and then imagine less than that.
!slots100
Jump in the discussion.
No email address required.
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
More options
Context
There was this great X post about how vast majority of economists last year thought odds of a soft landing were <10% and yet the Fed actually did it!
Jump in the discussion.
No email address required.
More options
Context
More options
Context