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The British pound will stabilize itself eventually. As for nyc real estate. I can't say it would crash, but I sure won't say nyc real estate will never. Saying nyc real estate is never going to crash is equivalent to saying hey I can have all the unprotected Sex that I want and I won't catch the Hiv. So far globally there are economic hiccups that will reduce investors from doing real estate in nyc. Brazil credit rating went to @#&* and president Brazil impeachment will hit wealthy folks from investing overseas, unless I'd they plan to offshore thier money. Russian economic sanctions are hurting the country. Commodity prices for gold, platinum in South Africa has declined, China economy has been sluggish, price of oil has dropped, maybe less Gulf buyers will invest in NYC, and last EU/brexit fiasco. If I was a real estate broker in the high end market, I would pay close attention to global geopoltics and how it will affect real estate. This past week, we had a Ugandan woman who wanted to buy real estate in NYC, not worth it she took a trip to dubai instead to buy high end property. I'm not saying things will crash, but globally economic situations for different countries that are main backers of NYC recently al estate investment do no took good. If world war 3 was to start, nyc real estate wold screwed, but that's a worst case scenario.
As for the EU? The EU needs some reason reforms fast. Elections are coming up in major EU States. Both left and right wing parties want out of EU and put an end to neo liberal centrist that has ruined the continents economic destiny.
Last edited by Bronxguyanese; 06-25-2016 at 09:08 AM..
Brexit is a financial non-event. Historically, if you look at all currency crisis from the destruction of the pound in 92, the 97 asian crisis, to the ruble and the euro crisis last 3 years, they were all non-events because markets always correct to mean reversion and life goes on. There is no existential end of times scenario as liberals often like to fearmonger to retain power. In 4 weeks, nobody will be talking about this. In 3 months, trade deals will be re-written, and nobody will remember. The only ones who take a hit are the current liberal socialist elite power structure. This means that global power now trends towards conservatives and nationalism. That is the new trend.
Brexit also symbolizes that Trump will most likely win the presidency and expose liberal journalist polls to be bs propaganda.
Amen to that. You nailed it: one long recession since 2000 with a crash averted (except for the mini crash of 2008) by endless government borrowing on a colossal scale. Like an unemployed dude maxing out one credit card after another in the hopes there is never a reckoning.
If you look at history the same thing happened after the great depression. One major crash, followed by small to medium size recessions. Then in the 70s Nixon takes us off the gold standard. A attempt to rid us of fiscal responsibility and to do away with the old system, which was on the verge of utter ruin. We had the HUGE reset in the 70s, which if you remember is when NYC was bankrupt. Then slow recovery (for some). We will see the same thing again. Except im not sure how they would do away with our current fiat monetary system. Not even sure if that would be the end game. It would make sense though given how terrible and corrupt our financial system is.
Brexit is a financial non-event. Historically, if you look at all currency crisis from the destruction of the pound in 92, the 97 asian crisis, to the ruble and the euro crisis last 3 years, they were all non-events because markets always correct to mean reversion and life goes on. There is no existential end of times scenario as liberals often like to fearmonger to retain power. In 4 weeks, nobody will be talking about this. In 3 months, trade deals will be re-written, and nobody will remember. The only ones who take a hit are the current liberal socialist elite power structure. This means that global power now trends towards conservatives and nationalism. That is the new trend.
Brexit also symbolizes that Trump will most likely win the presidency and expose liberal journalist polls to be bs propaganda.
Agreed. Once this is over no one will remember.
Trump may very well win the Presidency. But even if Clinton wins, she had to use pro working class rhetoric and come out against neoliberalism.
The reason why global power trends towards nationalism is because of the horrible trade deals that were signed in the 1990s that will need to be re-written.
If you look at history the same thing happened after the great depression. One major crash, followed by small to medium size recessions. Then in the 70s Nixon takes us off the gold standard. A attempt to rid us of fiscal responsibility and to do away with the old system, which was on the verge of utter ruin. We had the HUGE reset in the 70s, which if you remember is when NYC was bankrupt. Then slow recovery (for some). We will see the same thing again. Except im not sure how they would do away with our current fiat monetary system. Not even sure if that would be the end game. It would make sense though given how terrible and corrupt our financial system is.
Why would they do away with our current flat monetary system? If it's replaced, it's going to be replaced by something equally corrupt.
Why would they do away with our current flat monetary system? If it's replaced, it's going to be replaced by something equally corrupt.
So why even bother?
So true,
Depressions, super-inflations, bank runs occurred even in the era where the only real currencies were gold and silver. It shocked me to realize that a massive inflation could be ignited by the discovery of a new gold mine...in the early Roman Empire.
Financial manipulations with dire consequences will occur in any system in spite of Jesus Christ himself proclaiming "This time it will be different."
Brexit is a financial non-event. Historically, if you look at all currency crisis from the destruction of the pound in 92, the 97 asian crisis, to the ruble and the euro crisis last 3 years, they were all non-events because markets always correct to mean reversion and life goes on. There is no existential end of times scenario as liberals often like to fearmonger to retain power. In 4 weeks, nobody will be talking about this. In 3 months, trade deals will be re-written, and nobody will remember. The only ones who take a hit are the current liberal socialist elite power structure. This means that global power now trends towards conservatives and nationalism. That is the new trend.
Brexit also symbolizes that Trump will most likely win the presidency and expose liberal journalist polls to be bs propaganda.
It will take at least 2 years for new negotiations between the EU and London. Also it's an issue with Scotland and Ireland if they will stay in the UK or not since they voted to stay in the EU. It's not that simple and people that's well aware and choose to be about world politics won't forget in 3 months
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