Global Economy
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- ukit0
Whenever there is a perception the system isn't working there is always going to be a group of people who advocate for doing something radically different even if their ideas are more or less unproven. In this case the Ron Paul/ Austrian economics crowd who are pretty much betting on the system collapsing with investments in gold and silver etc.
The advantage of being a critic from the sidelines like this though is that you can never be proven wrong. It may well be that our economic system is headed for collapse but that could be in spite of everything that has been done rather than because of it. The real culprits could simply be globalization and transformation of the economy rather than the fiat money system or central banking being inherently unsustainable. Its easy to criticize the Fed but hard to criticize globalization even though its an inherently destabilizing trend.
- Alan Greenspan was proven wrong and he admitted that he was wrong.JSK
- JSK0
I dont think consumers are better informed. They have the same mentality. If they were better informed, no one would buy in to predatory mortgages (not reading the contract or agreement). Everyone is looking for easy buck. I remember a friend of mine was complaining that he was a "victim" of the banks. I asked if he read the contract and agreement. He said "No. Why should I? I am the victim here" I asked to bring the contract. And it is in the first line "interest rate will increase to 15% after 2nd year" and "failure to make payment will increase rate to 35%" He lived in his place for 10 months without paying. He complains that he didnt get his fair share.
This is moronic.
- registe0
the only difference between 1911 and 2011 is the consumer is better informed. No entity exists to protect the consumers interest. Yet entities continue to exist for the interest of the company.
It's not worth fearing, the only reason we care, is because we know. It's so far removed from the hands of the average citizen, I firmly believe there is no "hope" for anyone alive today. We are cogs in a system. I'd say the best course of action is to put that self aware brain of yours to work and get to work on a million dollar project.
I was discussing this sentiment this morning. for an individual in their mid 30's the amount of money needed at retirement is over 3 million dollars. The cost of tuition for a 4 yr old to go to college will be about $300,000.
- detritus0
This is all a question of scope.
A lot of commentators blithely conflate ‘major economic woes’ with ‘total apocalypse’.
There is nothing in tha Guardian article that people don't already know—put simply, we've had the massive excesses of profit from the last decade wiped from our slate.
In one sense, this is a terrible, terrible thing to have happened. especially if a focus on making a lot of money's your thing.
In another, it's not, especially if you're just another schmo caught on the tide.
- JSK0
"Experts also say that quantitative easing (putting more cash in circulation) has never ever helped or been proven to work in any economy ever."
They are modeling this after Japanese economy. If there was no QE, everything would fail in a systematic fashion. Much like the great depression. It was design to ease the down turn and failure. More la se faire economist would tell you that this doesnt work but without this, global economy would just stop. Billions without jobs.
- jayliquori0
listen to glen beck! buy gold! hahaha
in all seriousness, diversifying is the best thing from what i have researched. invest world wide, and have a portion in gold/silver etc.
- you understand that gold and silver are no longer hedge right?JSK
- well if the dollar loses value, and you want to keep you wealth somewhere.. then where?jayliquori
- If you look at the movement, you should constantly move your money. Treasuries etc.JSK
- JSK0
US is already bankrupt. Killing the US dollar is meaningless. Cheaper export cost.
- Hombre_Lobo0
ill save you lot the hassle -
ahem.
- Hombre_Lobo
Hmmmmmmmmm
Inflation is killing the US dollar.
The Amount of US dollar notes in circulation is massive and increasing exponentially. The US' debt is rapidly increasing, which people believe will make the US dollar worthless, and given Americas involvement with world trading and business this will cause massive consequences for all countries and currencies.
Complete economic collapse has been predicted by: Ron Paul, Gerald Celente, Peter Schiff & Jim Rogers.
Vince Cable (Lib Dem Business Secretary) -
http://www.guardian.co.uk/politi…
"The political class as a whole is not preparing the public for how massive the problem is."Experts also say that quantitative easing (putting more cash in circulation) has never ever helped or been proven to work in any economy ever.
Now I'm no paranoid conspiracy theorist, nor do i believe everything i read, and usually these theories never amount to anything, but when the worlds leading authorities on economics are saying were fucked, I'm pretty concerned.
What are your thoughts?