When the riots begin
http://www.youtube.com/watch?v=2N8gJSMoOJc
If it happens, wait a little while and then go long on equities and not commodities.
If it happens, wait a little while and then go long on equities and not commodities.
It won't help. Business will grind to a halt until people regain their wits and realize certificates of debt are not wealth.
ruveyn
Considering he attitudes of the major financial houses in Europe and the USA they would rather civilization succumbs than give up their indentures.
Even if the world comes to an end, holding equity will be smarter than holding cash just in case the apocalypse does not happen. There will be disruptions but eventually economic activity will head towards a new normal and companies will start to profit again. Remember, stock prices will adjust to inflation but cash will stay a fixed sum with dwindling buying power.
More and more people are saying that there will be riots in America. The preconditions for social unrest have been fulfilled. All it would take is a spark…
You say civilization, I say entitlements that are no longer affordable. Billions of people live far simpler lives for a lot less than what the malcontents in Europe and America claim as their inalienable birthright.
You say civilization, I say entitlements that are no longer affordable. Billions of people live far simpler lives for a lot less than what the malcontents in Europe and America claim as their inalienable birthright.
Your appreciation is most likely missing things like cost of living. I can get the food for a day with 1.00 dollar in here. Good luck doing that in Europe or America.
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Come to Asia and see how people live. Even in wealthy cities like Singapore and Hong Kong, people just do not spend as much as Europeans or Americans. And Singapore and Hong Kong are among the most expensive places to live in the world. So can you imagine how much less Asians consume?
Elsewhere in the world it is the lack of food that leads ordinary people to riot. The American government makes hundreds of billions of dollars in transfer payments to Americans they describe as economically disadvantaged through benefit programs like disability support and food stamps. So unless people are even too lazy to file for benefits, Americans are unlikely to face a situation where there is simply no food. This also means that riots in America would be particularly disgraceful as people would just be acting out because an American living on food stamps actually lives a better life than the average Chinese or Indian. But I forget Chinese and Indians are not really considered human beings by some people here. At least the comparison with an American or European does not seem valid to them.
sartresue
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Doomandgloomsday topic
What do Asians propose? Please, fill me in on possible solutions to this "crisis."
Why would George Soros be in Toronto?
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Radiant Aspergian
Awe-Tistic Whirlwind
Phuture Phounder of the Philosophy Phactory
NOT a believer of Mystic Woo-Woo
Spend less.
Stop being so wasteful.
Live within your means.
This topic - which was actually started in mid-2009 but the original thread was deleted by the arrogant and ignorant administrators of the board - is not about doom and gloom but an attempt to discuss reality. Just the other day I was reading the Washington Post and there was an editorial about how positivism has contributed to the deep and serious mistakes that have been made in response to the American Financial Crisis. The banking crisis is really just a symptom of the underlying malaise – chronic overconsumption. By staying positive and stimulating the economy with unbelievable sums of money, the Obama administration actually set the stage for a massive meltdown. They were so blind sighted by their own positive thinking that they refused to acknowledge the structural shifts that had occurred in the economy. They tried to stimulate consumption when overconsumption is the problem.
Stop being so wasteful.
Live within your means.
This topic - which was actually started in mid-2009 but the original thread was deleted by the arrogant and ignorant administrators of the board - is not about doom and gloom but an attempt to discuss reality. Just the other day I was reading the Washington Post and there was an editorial about how positivism has contributed to the deep and serious mistakes that have been made in response to the American Financial Crisis. The banking crisis is really just a symptom of the underlying malaise – chronic overconsumption. By staying positive and stimulating the economy with unbelievable sums of money, the Obama administration actually set the stage for a massive meltdown. They were so blind sighted by their own positive thinking that they refused to acknowledge the structural shifts that had occurred in the economy. They tried to stimulate consumption when overconsumption is the problem.
What is overconsumption? If one buys only what one can afford, without going into unsustainable debt, is that overconsumption? If a rich person buys things that you can't afford is he overconsuming or are you underconsuming?
ruveyn
Tollorin
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Right on the site announced by the video...
http://www.inflation.us/mgp.html
It's a publicity for selling you gold. Everyone are buying gold now, I smell a bubble.
Also, I don't think riots would suddenly happen because of a economic collapse, when peoples would be hungry they would riot though.
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Down with speculators!! !
The video was kind of bad but it does put a coherent voice to mutterings that are becoming more widespread. Even members of the political establishment today are talking about possible social dislocation. Now that the Greeks have shown the world just how difficult it really is to restructure an economy based on long cherished entitlements, it is only natural to draw parallels with the United States where entitlement programs are also proving impossible to reform. The problem is that, like it is for the Greeks, America’s creditors are no longer willing to continue financing a trade and fiscal deficit that will never close. You cannot lend money to people who will not only never pay you back but also never stop asking for more.
Compared to the wealthy, the poor appears to be under consuming. But rich people form such a small proportion of any society that their direct activities like how much they consume have little bearing on aggregate. In every economic crisis, it has always been the consumption habits of the masses that pushed the system over the edge. It is what rich people do with their money that matters. To take Greece as an example, wealthy Greeks have shifted tens of billions of Euros out of Greece. Needless to say, the loss of all that money has made a desperate situation impossible.
Compared to the wealthy, the poor appears to be under consuming. But rich people form such a small proportion of any society that their direct activities like how much they consume have little bearing on aggregate. In every economic crisis, it has always been the consumption habits of the masses that pushed the system over the edge. It is what rich people do with their money that matters. To take Greece as an example, wealthy Greeks have shifted tens of billions of Euros out of Greece. Needless to say, the loss of all that money has made a desperate situation impossible.
There is too much nonsense in all your posts to go back and point it all out. But please, at least refrain from making directly contradictory statements within the same paragraph.
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"All valuation rests on an irrational bias."
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ALL ANIMALS ARE EQUAL
BUT SOME ANIMALS ARE MORE EQUAL THAN OTHERS