Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Some years ago the authors of Generations and The Fourth Turning predicted a new depression-they called it the "Great Devaluation".
Yep. Rather than a Depression which is rather obvious, the Central Banks have opted for gradually lowering the standard of living for everyone except their cronies. Bankers don't believe the top 1% should ever suffer. They are far too precious. If you ever hang around this bunch you'll know what I'm talking about. Basically they are three Superior Class.
It will crash when we realize you can't sell half million dollar houses to part time people at Burger King
I think the plan is that Burger King people will take second and third jobs for the Uber Class working as serfs. I think the Uber Class misses the good ole days of slavery and serfdom, so the Central Banks are just resurrecting it. Anyone for more debt? Come right to the desk. We have plenty to offer.
We still have an economy that is really sick with a serious disease.
Expanding profits at the expense of consumer wages isn't sustainable. This has been going on for 35 years. Consumption was kept boosted by escalating fiscal and private debt, and higher labor force participation, but all that is nearly tapped out.
In effect, choking off the (effective) demand for goods and services. If only the 1% can afford to buy anything, then a depression is inevitable.
Seattle already has its own hooverville, called "Nicklesville."
A few years ago there was an article in Readers Digest-about people moving in with relatives-to avoid living on the streets.
It was interesting watching the various news channels coverage. The usual suspects (CNN, MSNBC, Fox) covered it like chickens with their heads cut off then quickly transitioned to the effects on the American political campaigns with predictable results. Al Jazeera was the only channel that actually had correspondents in the problematic country in question - China - and did interviews with people there.
The 2008 crash was more than just a normal correction because the rabbit hole of the financial crisis went deep.
I'm interested how far the rabbit hole goes with China. Having visited China myself, I definitely got the feeling that some of their growth was built on a foundation of sand to some extent. A lot of it just felt bubble-ish and corrupt. The big question that I'm sure investors have as well is - is the Chinese government hiding something - some kind of credit default-style corruption poisoning their markets and economy. Are their banks safe?
I'm interested how far the rabbit hole goes with China.
Don't know anything about Chinese banking, but one big problem China has is its dependency on other countries (primarily the US) to absorb their excess production. That can't go on forever.
Don't know anything about Chinese banking, but one big problem China has is its dependency on other countries (primarily the US) to absorb their excess production. That can't go on forever.
Markets can handle ups and downs of a country's economy. Investors will find other investments to move to. So they'll stop investing in China and will start investing in Vietnam and Malaysia.
What they don't handle well, which is what happened in 2008, is when the money banks say they have turns out not to be real -- or wrapped up in scheme after scheme that can't be unraveled before the whole thing falls apart.
I'll say anywhere between now and the end of 2018. It will be worse than 2008 by far. If I am wrong, I will never post again.
Hi!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
