39 replies to this topic

[wjfox]

http://www.economicv...coming/50023394

[Caiman]

Stock up and tinned food and matches! One thing is for sure, just like the economic crisis that has run since 2008, the rich and powerful will profit massively.

[Craven]

Everyone says that economic collapse is coming.

But genetically we're still wired to think about tomorrow not about next century, not about our grand children. At same time civilisation is at point where thinking about tomorrow only is to ensure our death in next few generations.

[GNR Rvolution]

Expect food riots in the western world within a year from now

Actually, I'm not sure if I'm joking or not, food prices are going up quite quickly round here, and I have begun to notice that some supermarkets have shelves that seem to be permanently half empty

Unfortunately though, someone always profits from this sort of misery, and it's normally the wrong kind of person...

[Caiman]

That’s probably more to do with culture than anything. This country, and other western nations, are consuming to massive excess. Something’s going to have to change soon, hopefully we can get through the inevitable economic crash that we face without the destruction of civilisation as we know it

[GNR Rvolution]

Well I'm certainly looking into self-sustenance these days a lot more than I used to. Problem is I know people who are massively in debt and have their heads in the sand and just keep on spending - and I'm not talking about the government!

[jjf3]

The economy never recovered from 2008. I never really saw us getting out of the recession. This isn't a double-dip, its a Depression. All over again!!! History is repeating itself. As a young adult just beginning to enter the world, I can see this going two ways. Either somehow our leaders actually start caring about the rest of us, and stop delaying and start fixing this thing for everybody. Or it crashes. Complete Global Meltdown!!!!

It can go either way. I don't care. I have no ties to the way the world was working before. But I feel we are in for a massive change in our society.

[Caiman]

I think there’s a path through the middle, I don’t think it’s black or white, one or the other.

[jjf3]

I think we're in the grey area now and up until 40 years when the oil runs out. The economy will be forever in a roller coaster for the next forty years if it doesn't collapse now! Then when oil runs out, oh boy!!!!!

My uncle is a financial adviser to wealthy people in our town (which is pretty wealthy in itself). Every few minutes he gets calls from people asking what they should do with their money. While yes, he is supposed to tell people this, as that's his job. It's not a oh what should I do with my money today, it's what Should I do to protect my life savings 401 Ks etc.... People are really worried about the real possibility of Financial collapse. Some clients of his have already shoved off into swiss bank accounts, against his advice. He's not sure what to do or what to tell people.

And these people are CEOs, politicians, and doctors and lawyers.

It's only going to get worse and no politicians will be able to stop it (especially if you are to go by what's been happening in politics these days).

[jjf3]

in 2008 the USA was three hours away from economic collapse. Today we could be weeks or a month away.

http://www.dailykos....-September-2008

[Roh234]

HOW DARE THEY MAKE PROPHOSIES OF A COLLAPSE?

With their role in the 2008 recession they should focus on fixing the economy not getting a collapse just so they can profit anymore.

[jjf3]

"We are not in a recession!" President Barack Obama............... Sigh. The man knows nothing about economics.

[classical piano guy]

(FIrst off, the link doesn't work for me. Regardless:)
Sigh, not this again... You seem to post these alarmist predictions of fiscal collapse only "weeks away" once every month or two. As long as alternative energy continues to develop at its current rates and farming methods improve even a little bit in the next 15-20 years, we will never see another Great Depression.

And no, the state of the economy -- both now and in 2008 -- is nowhere near where it would be during a true "depression."

in 2008 the USA was three hours away from economic collapse. Today we could be weeks or a month away. http://www.dailykos....-September-2008

The US was never close to anything of the sort. The preventative measures taken were nothing more than the standard procedure for a bank run. Moreover, most of the article was simply a gross overestimation given by one member of Congress.

[jjf3]

I urge you to watch this movie and you will definitely change your mind about how stable you think the economy was in 2008, if you don't think it's happening again, your blind!

http://www.imdb.com/title/tt1742683/

And this one is even better plus its a documentary:

http://en.wikipedia.org/wiki/Inside_Job_(film)

[truthiness]

Incredible... didn't Goldman Sachs just get away with doing the exact same thing - betting on a collapse, then helping to generate a collapse, then profit?

How is this still legal?

Oh wait... they have all the money, and therefore make the laws... I keep forgetting...

I'll have to check out Inside Job... Thanks for the recommendation!

[Roh234]

If you guys have the time watch this.

http://www.chrismart...com/crashcourse

[Wesfky]

Capitalism.

[jjf3]

Incredible... didn't Goldman Sachs just get away with doing the exact same thing - betting on a collapse, then helping to generate a collapse, then profit?

How is this still legal?

Oh wait... they have all the money, and therefore make the laws... I keep forgetting...

I'll have to check out Inside Job... Thanks for the recommendation!

The movie was really good I'm starting to like Matt Damon a lot for all the work he does. It's really interesting and well put together, he was able to interview all these top shot wall street people with multi-million salaries!

I'm not sure these people fall under the same 'laws' as we do. Even if it were illegal, what are you going to do? Arrest/fire the board? A new/prepared one would pop up in its place. Sue them for millions? As you said, they have all the money and have a piece of most large companies, they will find a way to pay the courts. Goldman Sachs are money pushers for the elites. Just check out their top investments here.

http://seekingalpha....chs-top-15-buys

They also invest in Facebook and many other smaller companies that they feel will be the next big thing. They ARE too big to fail. Goldman Sachs is going to be a huge player in the world, if you don't believe it is already.

[Prolite]

If the Republicans in Congress stop blocking every damn bill and actually vote for Obama's jobs bill he just proposed 9/07/2011 in a joint session to Congress, it will prevent the US from slipping into another recession (although I think we've never left The Great Recession). But by no means will it be powerful enough to spur economic growth at 4%. That's just my prediction. The stimulus package prevent the US from entering into a Great Depression. The stimulus package in Winter 2009/2010 prevented the economy from slipping back into another harsh recession. And we're faced with that again, hence the jobs plan with the joint session with Congress. With each jobs bill, the economy SLOWLY recovers. I'd say another 7-8 more years and we'll be down to 4% unemployment.

[jjf3]

Yes, but we're not really fixing the thing. We're just delaying it, and that's why I side with the republicans on this one where spending and stimulus bills can only get you so far. If the economy stabilizes with a stimulus bill it would have done so the first time around. Not eventually, maybe in 7 years. I believe that the economy never recovered from the recession, we never really saw improvements from the bills, we just saw preventing collapse, which I guess is a type of improvement. But all we are doing is delaying the inevitable.

No one party has the right solution, hell nobody knows how to fix this mess and I think it's almost time for collapse same thing that happened to Rome and same thing that's happening to EU.