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Post by SA Hunter on Feb 12, 2018 16:50:34 GMT 10
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Post by spinifex on Feb 12, 2018 18:54:36 GMT 10
Sigh ... I think the reality is no-one has any freaking idea about how 'the financial system' works these days. All we can be sure of is that it is no longer 'rules based'. Lucky I understand home brewed cider ... that'll be trade-able long after the current money expires.
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Post by doglovingjim on Feb 12, 2018 20:29:38 GMT 10
All of this is just making my head spin, never was strong with economics.
“Australians should be concerned about what lies ahead for themselves and the country as a whole,” he said, predicting a collapse likely to be more severe than the 1991 recession and which may potentially rival both the 1890 and 1929 depressions.
How likely do you guys think of a repeat of the great depression occurring within the next 5-10 years?
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blueshoes
Senior Member
Posts: 609
Likes: 700
Location: Regional Dan-istan
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Post by blueshoes on Feb 12, 2018 21:42:58 GMT 10
How likely do you guys think of a repeat of the great depression occurring within the next 5-10 years? Very. How it plays out is anyone's guess though |
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Post by SA Hunter on Feb 13, 2018 0:04:11 GMT 10
Sigh ... I think the reality is no-one has any freaking idea about how 'the financial system' works these days. All we can be sure of is that it is no longer 'rules based'. Lucky I understand home brewed cider ... that'll be trade-able long after the current money expires. Making a batch of Apple Cider with a mate of mine too - think it'll get drunk before it gets to be traded though! |
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Post by spinifex on Feb 13, 2018 19:38:51 GMT 10
How likely do you guys think of a repeat of the great depression occurring within the next 5-10 years? Very. How it plays out is anyone's guess though I'll take the contrary stance. Not very likely. In 1929 the technology of finance lacked the command and control systems that are now available to central bankers. In 1929 'too big to fail' wasn't a policy. Now it is. They'll keep pumping new debt into the system no matter what. Having said that ... I see evidence that we are all economic frogs being slowly heated to boiling point. So slow we don't often realise it. I have quite a few friends who used to have good jobs or businesses up until 2011 that are now making much less income. One by one we are collapsing into the economic kerbside ... while waiting for a big SHTF economic event that may never come. My primary SHTF plan in most respects is putting things in place for when my currently stable income stream dries up and I've gotta cut expenses and join the 'gig economy'. Actually ... soon as the youngest kid leaves home I'm implementing the plan regardless! |
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Post by jonasparker on Feb 14, 2018 0:46:28 GMT 10
Take the article and change "Australian" to "American". It's true for both countries.
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spatial
Senior Member
Posts: 2,396 
Likes: 1,560
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Post by spatial on Feb 28, 2018 18:10:28 GMT 10
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Post by spinifex on Mar 2, 2018 15:32:25 GMT 10
I've been saying, since compulsory employer super started up, that it simply won't be there by the time I'm allowed to access it. (Which is still about 23 years away at present.)
Not to worry. There will always be plenty of home made cider to consume. Be it apple, peach, plum or apricot.
Silver Lining: You know in 2009 (according to USGS data on global coal consumption) in aftermath of GFC world CO2 emmisions dropped by about 10%? Economic catastrophe is great for the environment.
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spatial
Senior Member
Posts: 2,396
Likes: 1,560
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Post by spatial on Mar 2, 2018 20:24:02 GMT 10
US market had bad day last night and today Japan down 2.6% and German opened down and is now 2% down. Market volatility has shot up. So there will be wild swings in all directions - till the debt burden causes complete failure. Yes I agree superannuation is something that I will never see so I don't put any extra into it, and have low return low risk portfolio. money.cnn.com/data/world_markets/europe/ |
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