[BRAH]

Next crash will be ‘worse than the Great Depression’: experts

$1:

Ten years ago, it was too-easy credit that brought financial markets to their knees. Today, it could be a global debt of $247 trillion that causes the next crash.

After a decade of escalating US household debt brought on by low wages and the national debt more than doubling over the same time frame, to $21 trillion, debt could soon put the brakes on this economic recovery, analysts warn.

“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.

https://nypost.com/2018/09/22/next-crash-will-be-worse-than-the-great-depression-experts/

BIS warns global economy risks crisis 'relapse'

$1:

ZURICH (AFP) -
The Bank of International Settlements said Sunday the global economy risked a "relapse" of the crisis that rocked it a decade ago, warning there was little "medicine" left to treat the patient a second time.

"Things look rather fragile," BIS chief economist Claudio Borio told reporters in a conference call.

"There is little left in the medicine chest to nurse the patient back to health or care for him in case of a relapse," he warned.

https://www.france24.com/en/20180923-bis-warns-global-economy-risks-crisis-relapse
_________________________

In 2008 Taxpayers bailed out the Big Banks to stop a Global Economic Collapse and Taxpayers will be doing it again.

[martin14]

Canada pretty much skipped over the last crash of 2008. No one saw their savings
get destroyed, or their house value cut in half or worse.

But yeah, the next one will be even worse.
Especially for the ones who didn't feel the last one.

[DrCaleb]

#MAGA

[llama66]

martin14 martin14:

Canada pretty much skipped over the last crash of 2008. No one saw their savings
get destroyed, or their house value cut in half or worse.

But yeah, the next one will be even worse.
Especially for the ones who didn't feel the last one.

Can't lose your life savings if you have none.

[BartSimpson]

DrCaleb DrCaleb:

#MAGA

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

On a completely unrelated note this is a good time to stock up on silver.

[llama66]

BartSimpson BartSimpson:

DrCaleb DrCaleb:

#MAGA

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

On a completely unrelated note this is a good time to stock up on silver.

I have 2oz. lol.

[BartSimpson]

llama66 llama66:

BartSimpson BartSimpson:

DrCaleb DrCaleb:

#MAGA

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

On a completely unrelated note this is a good time to stock up on silver.

I have 2oz. lol.

I'm now at around eighty pounds.

[BeaverFever]

BartSimpson BartSimpson:

DrCaleb DrCaleb:

#MAGA

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

On a completely unrelated note this is a good time to stock up on silver.

Yep more extreme poverty will help turn things around!

[Robair]

BartSimpson BartSimpson:

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

Your countries debt increases seem to historically increase with decreases in taxes or increases in military spending.

[BartSimpson]

BeaverFever BeaverFever:

Yep more extreme poverty will help turn things around!

You can't keep running up a debt in order to give away free stuff. I'd prefer for the government to enact austerity and start balancing the budget and paying down the debt but no one has the political will to do that.

So a collapse followed by a lot of extreme poverty is what's in order and the best you can do is prepare for it like you would a fire, flood, or earthquake.

[BartSimpson]

Robair Robair:

BartSimpson BartSimpson:

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

Your countries debt increases seem to historically increase with decreases in taxes or increases in military spending.

The problem is that the borrowing and spending is perpetually increasing. If we increased taxes sufficient to cover existing spending we'd watch the economy crumble overnight just as bad as if we had a depression.

There's no 'good' solution here that doesn't involve some pain.

[llama66]

Robair Robair:

BartSimpson BartSimpson:

IMHO this would help to bust up the parasitic social services and entitlements that are screwing up society and draining Federal, state, and local budgets.

Your countries debt increases seem to historically increase with decreases in taxes or increases in military spending.

not trying to be a dick, but not fighting wars everywhere is another good way to not run up the debt.

[Thanos]

llama66 llama66:

not trying to be a dick, but not fighting wars everywhere is another good way to not run up the debt.

Endless tax cuts for the wealthy that need relief the absolute least of anyone in society doesn't help either. The US deficit (not the overall debt, just the yearly deficit) is now at almost a trillion dollars. And this under the austere and serious "conservatives" who shit their pants everytime a Democrat president spends money on office supplies.

[Robair]

llama66 llama66:

not trying to be a dick, but not fighting wars everywhere is another good way to not run up the debt.

Dubya's contribution.

Thanos Thanos:

Endless tax cuts for the wealthy that need relief the absolute least of anyone in society doesn't help either. The US deficit (not the overall debt, just the yearly deficit) is now at almost a trillion dollars.

Trump's contribution.

Don't know if they'll end up plus or minus with all these tariffs yet. The money flows in, but then there'll likely be corporate bailouts for affected industries...

[Thanos]

Robair Robair:

Don't know if they'll end up plus or minus with all these tariffs yet. The money flows in, but then there'll likely be corporate bailouts for affected industries...

With the amount of revenue lost first to the Bush tax cuts for the rich then with the Trump tax cuts for the rich the US isn't going to have the cushion to provide bailouts again when the apocalypse comes. The rich will skate away as usual, even though they're the ones almost entirely responsible for what's coming. Everyone else though? We're fucked.

And it will be an apocalypse. And I have no faith at all that the boomers, my generations or the millenials will have the wisdom our grandparents did back in 1928 to put in place the sort of laws and regulations that kept the anarcho-capitalists from destroying everything they could lay their hands on. Been almost forty years since Reagan began letting these criminals do what they wanted whenever they wanted and all the laws that held them in check have been either distorted to the point of being worthless or eliminated altogether. Corralling them again will probably be impossible.