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Previously on "The mother of all financial crashes is still to come?"

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  • GigiBronz
    replied
    Originally posted by Jog On View Post
    can the mods just append this thread to the end of that one?
    If not I it should be a useful feature.

    Leave a comment:


  • BR14
    replied
    Originally posted by GigiBronz View Post
    Whining, snivelling, self piying sh1te, as usual
    just feck off somewhere else then.
    or back to your eastern utopia.
    whatever, just go.

    Leave a comment:


  • Jog On
    replied
    KUATB

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by tazdevil View Post
    The financial system has become too abstract and we’ve lost the connection between productivity and wealth allowing sophisticated elites to dominate by engineering the rules to suit them. Look at crypto which has no real value at all as it doesn’t exist as a real thing or the amount of money in the financial system that’s not backed by any real assets. Resetting the system isn’t an option as it’ll lead to a catastrophic failure of the current human society so like a junkie we’re hooked on the false premise our financial system is based on and its financial overlords. However human society will collapse soon due to our inflating indebtedness and political foolishness and the need for countries such as the US to avoid it’s accelerating decline
    we had bitcoin that was an interesting promise but it got accaparated by wallstreet.

    probably the next 10 years will be full of revolts, wars. I can't see interest rates going back up for now so probably the have-have nots divide will still continue.

    Leave a comment:


  • tazdevil
    replied
    The financial system has become too abstract and we’ve lost the connection between productivity and wealth allowing sophisticated elites to dominate by engineering the rules to suit them. Look at crypto which has no real value at all as it doesn’t exist as a real thing or the amount of money in the financial system that’s not backed by any real assets. Resetting the system isn’t an option as it’ll lead to a catastrophic failure of the current human society so like a junkie we’re hooked on the false premise our financial system is based on and its financial overlords. However human society will collapse soon due to our inflating indebtedness and political foolishness and the need for countries such as the US to avoid it’s accelerating decline

    Leave a comment:


  • xoggoth
    replied
    yes, - piss off you miserable twat!
    Oi! Stop being nasty to us miserable twats!

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by LondonManc View Post
    The non-elites can amass wealth as long as it doesn't affect the elite. That seems to be the main rule in life. As you say, there's an element of luck in that.
    They wouldn't be teaching you anything in school that would somehow detract from that and put you in a better position so you have to look into everything with skepticism.

    Work, apart from giving us purpose in life and social status etc ... apart from the obvious financial sustenance. Work can also be used to worn free spirits, grind them up so they do not pose a threat for the upper echelons.

    You get paid just enough to feel that you can afford things (if you are in some of the upper level jobs) but not enough that you would afford some time off to think of how the world really works and why you are doing all those things.

    The whole culture around it, social pressures, legislation everything is made to push you in that spot.

    I came from the East with the hope that people were free here but to my surprise, people are a bit more wealthy and can afford some things that they don't actually need but mentally they are less free than the people from the East.

    Still trying to make peace with those in my mind...

    Leave a comment:


  • LondonManc
    replied
    The non-elites can amass wealth as long as it doesn't affect the elite. That seems to be the main rule in life. As you say, there's an element of luck in that.

    Leave a comment:


  • GigiBronz
    replied
    forgot this forum is full of old people that have abided to the system their entire life and now have to believe in it because any disturbance to it will be chaos.
    They think they've done the right thing worked hard and now ripping the rewards.

    Amassing wealth tends to be based on luck as well, some people have worked hard and done well, others have just worked hard and someone else is ripping the benefits for them.
    I used to joke in a previous company (not in the open of course) that the hardest working people there were the cleaners. I would always nod when passing them and smile, they were genuine humble hard working people. You would see them all the time doing sometime. As opposite to the employees of that company that were not only avoiding responsibility with every opportunity but had a sense that were malicious as well. You would see them walking by with great importance as if they were actually someone.
    Yeah, world is a funny place once you look at things with the right eyes.



    crazy times, I am not sure if we have shifted to another economic paradigm or just over-stretched current one.

    Leave a comment:


  • DoctorStrangelove
    replied
    I wanted to be a lion tamer.

    Leave a comment:


  • SueEllen
    replied
    Originally posted by Whorty View Post
    I would agree with you here.


    I do not agree with you here. I came from a poor, working class family and I've managed to acquire assets. But then, at your age I worked hard and didn't spend all my life complaining on an internet forum.
    That's unfair - as you worked smart as well.

    Loads of people work hard but get no where as they don't work smart.

    Leave a comment:


  • DealorNoDeal
    replied
    A crash cannot happen until Scooty stops predicting one. You could be in for a long wait.

    Leave a comment:


  • Whorty
    replied
    Originally posted by GigiBronz View Post
    Maybe I've lived my life all wrong.
    I would agree with you here.

    statistically why the working class(and middle class) barely acquires any assets during their life.
    I do not agree with you here. I came from a poor, working class family and I've managed to acquire assets. But then, at your age I worked hard and didn't spend all my life complaining on an internet forum.

    Leave a comment:


  • GJABS
    replied
    Originally posted by GigiBronz View Post

    no, was pointing out this in particular, they are no different than what we had.

    But we had the '08 crisis that many people still think we have not fully recovered from and now we have all the frenzy and money printing because of covid.

    Trying to understand how it works so if anyone has any opinion on it please feel free to share.

    We've had a disconnect for many years, question is if there is a redemption day to come or if it is inherently part of how economy works and we might never have.
    I don't believe we've had a "disconnect for many years". The 08 crisis lasted a couple of years, but since 2010 or so things have gone back to normal.
    We've had a new crisis in the form of Covid, and the government has had to borrow a lot of money from the Bank of England. This will be paid back in one of two ways - either the Bank of England forgiving the debt (the bonds that the government issued to them in return for the cash), which will cause inflation and a reduction in the real value of government spending (as things cost more), or the government will direct tax revenue away from normal spending and back to the Bank of England to service the bonds - which will also result in the real value of government spending.
    So government spending will go down, to compensate for it having gone up.

    Leave a comment:


  • GigiBronz
    replied
    Originally posted by GJABS View Post
    Videos on YouTube and other places predicting financial crashes, or financial anything for that matter, are ten-a-penny. They are all based on subjective nonsense and guesses. Are these two videos any different?
    no, was pointing out this in particular, they are no different than what we had.

    But we had the '08 crisis that many people still think we have not fully recovered from and now we have all the frenzy and money printing because of covid.

    Trying to understand how it works so if anyone has any opinion on it please feel free to share.

    We've had a disconnect for many years, question is if there is a redemption day to come or if it is inherently part of how economy works and we might never have.

    Leave a comment:

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