Who here believes in Fall 2016 there will be the BIGGEST Global Financial Collapse of World history???
>>73216415
I don't believe it, but I definitely hope there will be one.
UK is sitting on a private debt property bubble twice the size of the US in 2008. We deserve to get our shit pushed in with such a broken economy.
i was 16 when 2008 collapsed
what exactly does it mean if the economy collapses again? more crime? unemployment? higher prices? war?
>>73216780
millions will die, especially millions of violent niggers.
>>73216415
I doubt it will the biggest. After all only one economy will collapse, which will be China
US + Eurozone are much bigger economies than chinese, thus, the coming collapse won't be as big as 2008. I mean, it may make countries like Germany drown even further, but the shock won't be as big
Be realistic
>>73216780
It means that the economic output of US and the Eurozone will be just slightly worse, but not dramatically. We are in crisis since 2008
>>73218996
>being this ignorant
good goyim, keep piling up shekels in your bank accounts and stocks, the great judgement is coming.
It's near...
Why is no one mentioning the status of the petro dollar?
>>73219512
The end of petro dollar a the end of 2016?
>>73219743
yes.
buy gold, silver, bitcoin, keep it in a home safe coz eveything in your savings account will be taken for bail-in, sheeple will lose all their investments too.
>>73216415
maybe not fall 2016 buy probably within the next 2 years
>>73216780
It didn't even collapse. That shit was WAAAY overbloated by the media. Economically speaking it was 1/50th of what the Depression was alone.
>>73219958
definitely in fall 2016, elections will not happen, martial law, obama for another 3-4 years.
>>73220081
or they will let the elections happen and then have the crash so they can try to pin it on trump
>>73219993
>That shit was WAAAY overbloated by the media.
It really, really wasn't.
Alistair Darling was the British Chancellor of the Exchequer at the time:
>‘The most abiding memory is a phone call from Tom McKillop, the chairman of RBS, who phoned me on the morning of October 7, 2008. I was at a European finance ministers meeting in Luxembourg, looking out over a rain-swept industrial estate. I’d met the bosses of the banks the day before to talk about the bailout package, but we hadn’t told them everything because we hadn’t finalised it.
>‘I remember being summoned out of the meeting to talk to Tom McKillop and he said things were just terrible, that money was pouring out of the door.
>‘He said, “What are you going to do about it?” Which I thought was a quite remarkable thing to say – what are YOU going to do about it!
>‘I said to him, “We’re almost ready to go. How long can you last?” I thought he might say maybe a couple of days, and what really shook me was that he said, “Well maybe two or three hours and that’s it.”
>‘What was in my mind at that point is that if people thought the biggest bank in the world had failed, there would not be a bank in the western world that would be safe.
>‘The risk I have always seen is that people forget just how close we came to a complete collapse and the thing about a collapse of the banks is that it wouldn’t just have been the banks in ruins, it would have been complete economic and therefore social collapse. People without money can do nothing – you can’t buy your petrol, you can’t buy your food, anything.
>‘It was rather like a nuclear war, you know you think it will never happen. And then someone tells you that a missile’s been launched. It was very scary. That moment will stick with me for the rest of my days.’
It's going to be worse this time because people won't stand for another bailout.
>>73220301
Quite the opposite, congress is working to collapse the petro dollar in the event of hilary as potus causing a global economic collapse
>>73219954
I have already converted all my savings into gold and silver.
>>73216780
Imagine all the consequences if your dollars and everyone else's dollars are 1/10 as valuable within one day.
>>73216780
What happened the last time only worse.
Millions of people will lose their jobs. Millions of people will lose their homes. Business will contract by a huge amount etc.
The major problem is that nothing was fixed the last time and the Ponzi scheme was allowed to go on. At the same time, people simply will not stand by and allow the banks to be bailed out like last time. There will probably be riots. There will certainly be bank runs.
Gillian Tett's book on what happened - Fool's Gold - is a good read.
Failing that, go watch 'Inside Job' but be prepared to want to get up and hit stuff afterwards.
>pic is Deutsche Bank's CDS from a few months ago when their stock price wobbled. A CDS is basically 'insurance' against a company not being able to meet its debts - DB is one of the biggest banks in the world and this is how volatile their position is.
>>73216415
I wouldn't be surprised; this world is going to Hell. But no matter what happens, remember, SOMEONE is going to get rich off of it, and it's not you.
>>73220437
And yet our glorious unelected leader, PM Gordon Brown decided to fall in line with the US and start Quantitative Easing. Bailing out Northern Rock was just the tip of the iceberg - the sheer volume of UK sterling government bonds sold pushed our public debt above 80% of GDP for the first time since World War II. So - now the taxpayers are paying for the interest on the debt burden the banks brought upon themselves.
>>73221067
To better explain this:
Let's use the example of home or car insurance. You pay money to insure your car, for example. If your car is locked in a garage at night with an alarm etc., the insurance premium is low (because there's a low risk of your car being stolen). Same with contents of your house - if you stay in a nice area, have a burglar alarm fitted, you save money in insurance. Now, let's say you move to a ghetto with a high crime rate and you have to park your car on the street, maybe around the corner. The cost of insurance would go up because there's so much more risk involved.
That's what the previous pic shows. The CDS price is kinda like the cost of insurance - if the company is safe, then the price is low. If the company is at risk of going bust or defaulting on its debts, the price is high.
And remember: Deutsche Bank is one of the biggest banks in the world.
>>73216415
Oh noes, someone is about to start making those "Shemitha Generals" until then...
>>73216415
the cash grab is starting. -ve rates abound, 500euro note abolished, withdrawal limits, banks reporting large cash transactions.
>>73220495
WRONG, Shillary is on their side.
>>73221067
>volatility of DB b/c of ECB's actions + china's (emerging market) debt defaults means a global meltdown
convince me this won't be a debt-focused jolt that is contained within eurozone
>>73221731
Elaborate please
>>73221875
DB going down the tubes would collapse the derivatives market and that involves everyone.
It's extremely optimistic to think Canada would make it through any sort of economic storm given the size of its housing bubble.
>>73221898
You;re an ignorant sheeple arent you?
You dont become powerful in this world unless the evil powerful give permission.
>>73220437
>believing what controlled politicians say
>>73220437
>It's going to be worse this time because people won't stand for another bailout.
which is why bail-in provisions have been sneakily introduced.
>>73222406
Okay, so enlighten me further on the clinton connection. This bitch has nothing to do with oil and KSA doesnt respect women for shit
>>73221379
QE works in theory if they money actually trickles down. The problem is governments are too dumb to realise that banks are just going to use free money to increase their own positions (or pay bonuses with it) because they're greedy cunts. They took QE and created a stock bubble with it.
>>73222377
oh, don't get me wrong.
Canada is fucked, but we have a basement. We aren't too far from it, so it won't be as arresting. But the housing market is contained in two cities and that doesn't effect anything other than an inflation/deflation of about 1.5% nationwide. Not insignificant, but not the end of the world.
also, our bubble was not predicated on junk bonds and bullshit loans.
I understand the derivatives market will have global reverberations, but isn't DB in a position to be a deutsch "too-big-to-fail"?
>>73216415
Sure. Why not.
After the May Day debacle, how bad could it be.
I'm already dirt poor so it literally doesn't affect me.
>>73222734
sigh...you have so much to learn...
>>73223067
>>73222964
>isn't DB in a position to be a deutsch "too-big-to-fail"?
Yes but a bailout would put Germany in a similar debt situation as the ones they keep bullying Greece, Italy, Spain and Portugal about. The EU would unravel, as would the German economy. Worst of all, DB is intricately involved in the various debt arrangements for all of these countries - they prop up their balance sheets. If they go down the entire system locks up because any big banks involved with them are going to have huge holes punched in THEIR balance sheets and they're already sailing close to the wind. We'd have a domino effect like we did in 2008. And like I said, people simply aren't going to stand for bankers fucking up a second time.
>>73219253
You're a fucking ignorant who can only reply with a hard-headed conspiracy theory
It is all about private debt
Companies in the US and the Eurozone have already gone down. There's simply no space for them to go down even further
>>73223067
Fucking faggot
Top kek
>>73222780
>The problem is governments are too dumb to realise that banks are just going to use free money to increase their own positions
The problem is that governments are too dumb to realise that banks need no fucking money to lend money
Banks create loans (deposits) out of their asses
When you go to the bank, you're not given anyone's savings, but bank creates loan through a deposit and when you're paying that deposit off, then bank is destroying this money
Loan = increase in money supply. Paying off loans = decrease in money supply, because that loan is "destroyed"
>>73224579
>It is all about private debt
this is a sovereign debt crises we are in!
gov borrows and never pays back. living standards decline - never government.
I'm taking a course in bartending just in case.
>>73224859
>banks need no fucking money to lend money
they still need depositors. fuck me you are a dumb ass. All your posts are ass backwards. put your keyboard away and leave now before you fill anymore space with nonsense.
Don't worry guys negative interest rates will solve this.
>>73224859
>>73225134
You both are right.
The problem is public and private debt, fractional reserve and fiat currency.
I don't need money. Money needs me. I already got a car that'll last 50 years and a house that I can keep respectable for 50 years. Lol who needs money??
>>73220437
Wow, something really great must have happened around 2008 for American household debt and housing prices to plummet so dramatically. What a shame that Canada wasn't as affected! If only, right?
>>73225318
What is the problem is that there's a country like the US that gets to set the economic order of the world, that naturally ties countries to itself because of its size, that is full of greedy, reprehensible people, who didn't even bother to actually supervise shadow banks, that caused the crisis
People were allowed to get free money to buy real estates and assets, because they were too lazy to work and the greedy US public officers thought it is OK
There's a thing called banking law. Anyone who gets to lend money should be obeying this law. Shadow banks didn't and thus they caused this catastrophy
>>73225052
kek...dat pic...xD i'm laughing...gotta try that
>>73225839
>shadow banks
>implying some fucking guy that lends 1 mill has an impact on the global economy
https://en.m.wikipedia.org/wiki/Bank_for_International_Settlements
>>73225409
how will you pay property tax when you lose your job/benefits?
>>73225839
The problem is loans that banks give are not supported by savings. That's why banks runs occur. They multiply the deposits, they give loans to entrepeneurs, they create bubbles.
>>73225839
Financial enterprises, like all enterprises, act in their own rational self-interest. It is not profitable for a bank to loan money to people who are seriously likely to never be able to pay it back. The housing crisis was caused by government intervention preventing forward thinking on the banks' part. Specifically, a number of programs designed to encourage home ownership by artificially rigging the game to make it easier to get a mortgage. The programs succeeded, like government programs sometimes do, but had an unintended consequence, as government programs ALWAYS do. This unintended consequence was that a lot of people who were very likely to be unable to pay their mortgages suddenly had mortgages. The Great Recession was the natural result. The housing crisis was not caused by a lack of regulation, it was caused by over regulation.
>>73226363
Correct .
The market will self correct
>>73225409
Pic of your car and home please
>>73226533
>The market will self correct
Unless governments decide to double down on their stupidity and intervene again. Say, with bailouts.
>>73226733
At which point they suggest the failure is not their fault, rather it is capitalism that doesnt work and needs to be replaced. Because the government isn't strong enough in its current form and needs to expand
>>73226219
>>73226299
>>73226363
>Economist Paul Krugman described the run on the shadow banking system as the "core of what happened" to cause the crisis. "As the shadow banking system expanded to rival or even surpass conventional banking in importance, politicians and government officials should have realized that they were re-creating the kind of financial vulnerability that made the Great Depression possible—and they should have responded by extending regulations and the financial safety net to cover these new institutions. Influential figures should have proclaimed a simple rule: anything that does what a bank does, anything that has to be rescued in crises the way banks are, should be regulated like a bank." He referred to this lack of controls as "malign neglect."[47]
>One former banking regulator has said that regulated banking organizations are the largest shadow banks and that shadow banking activities within the regulated banking system were responsible for the severity of the financial crisis
The US will become a failed state
>>73226051
Go tell your friends on funnyjunk you underage faggot
>>73226713
Very well
>>73227252
The bank run was indeed the cause of the crisis. What we then logically look at once we come to that conclusion is what caused the bank run, and the answer is government intervention in the economy. The run on the "shadow banking system" (which is the most comically over the top dysphemism I've ever heard) was not a result of market forces. It was caused by federal legislation, in the United States, that encouraged financially unstable lending. For the United States federal government to blame financial institutions for the Great Recession is like a school-yard bully grabbing a nerd's hand, smacking his own face with it and telling him, "Stop hitting yourself!".
I am about to go in some pretty serious debt. What can I expect if this happens?
>>73228161
Depend of your earnings and the stability of those earnings. Also, debt for what?
Sheeple of Amerika
https://www.youtube.com/watch?v=R0sOp60ZqYI
>>73228306
I am the vice president/general manager of my company. Been there 6 years, made them a lot of money. It's an IT business.
I am building a cabin on some property I got a while ago. It's increased the value of the property from around 18,000 to 73,000. I don't live there but I'm hoping it will be a nice bug out shelter.
>>73228979
If you have financial security: no problem.
Also, it's being paid off in 5 years. The payments are only around 900 a month.
>>73221067
>'Inside Job'
any /pol/acks with a jewtube account that allows videos over 15 min for uploading a red pilled version called "inside JEWb" with pic related added over the key figures involved
>>73216780
People who want to buy cheap stocks post that it will crash. It is an economic strategy used on here a lot. Even people who got stocks in oil are not making tons of money.
>>73221067
>Deutsche Bank CDS is 153 at close today
We safe, boys.
>>73230554
now* making good money,
>>73228979
>>73229485
Dont listen to that sheeple, everything you have will be confiscated.
What does it mean for neets?
>>73227820
Nobody forced the banks to make shitty investments based on bad loans, the banks and the ratings agencies who approved the mortgage bonds fucked up.
>>73227476
Mac is awesome
>>73230693
You die.
>>73230624
Calling me sheeple when I have 150 € in the bank and the rest in silver and gold...
>>73231035
Australia at it again.
>>73231251
then dont give bad advice.
>>73230811
Damn
>>73231196
How?
>>73231424
che fache ionel
>>73231436
the host dies, you die too.
>>73230624
Feels bad man
>>73216415
Nothing will collapse. We can't even get the recession going because everyone cuts and runs. Everyone expects bad shit and sells. It's not the recipe for a collapse. In 2007 you had people foaming at the mouth and buying shit hands over fists. Now, you have people foaming at the mouth selling everything and expecting bad shit. It ain't happening like that. At some point people will relax and fall into their bad habits and start doing stupid shit. But this is nowhere near that. The Chinese may collapse. They do stupid shit. We are underexposed in everything.
The next collapse, though is going to be government bonds related. But the FED has a lot of firepower still. At some point, though, when they relax, it will all implode.
Learn the craft while you still have time.
>>73231831
Okay, perhaps I should rephrase, what does it mean for the very poor?
>>73216415
If Hillary wins, yes. If Trump wins, maybe but he will start WWIII and we will be the new baby boomers.
>>73216415
I really don't know, a lot of economic commentators are always saying the economy is going to collapse and nothing ever happens.
