Worse than 1929 depression

Discussion in 'Australia, NZ, Pacific' started by billy the kid, Dec 19, 2018.

  1. billy the kid

    billy the kid Well-Known Member

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    http://theeconomiccollapseblog.com/...dow-is-now-down-over-3300-points-from-the-pea

    Jittery investors yanked a record $39 billion from global equities in the latest week, according to a Bank of America Merrill Lynch report released Friday. That included $28 billion that exited US stocks, the second-highest on record. And a record $8.4 billion was pulled from investment grade bonds.

    The “race for the exits” that we have been witnessing really is turning into a bit of a stampede, and once panic starts to spread it can be very difficult to stop it.

    My predictions for 2019:
    Dow to bottom at 12,000
    All Ords to bottom at 2,500
    Goldman Sachs to go tits up
    DeutscheBank to go tits up

    Merry Xmas everyone:buggered:
     
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  2. LeftRightLeft

    LeftRightLeft Well-Known Member

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    It's not like we didn't see it coming. People don't expect profits anymore, they expect an increase in profits every year.

    I remember a year or so some hiflying CEO was sacked because the company profits had only increased 8% from the previous year.

    Things , profits, shares, property prices can't keep going up if wages and the economy aren't.

    It must crash as there are less and less people up higher in the pyramid to buy things.

    That million dollar house you live in is only worth a million if you can sell it.

    If everyone wants their million, bad luck, it might be worth half, pity about the second mortgage for the boat.

    Hypothetically speaking of course.
     
  3. LeftRightLeft

    LeftRightLeft Well-Known Member

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    Yeah I would go with 2019. I think that's why governments all over the world are going crazy .
    The system is broke.
    It's not just capitalism that's imploding , all isms are. Everyone has climbed onto the global hobby horse and the value of money is no longer dependent on a countries gold reserves but some smoke and mirrors called a global economy.
    Most of the wealth of the wealthy doesn't really exist. Take Microsoft, yes they can throw millions around but nothing happens . A few figures change in a few bank accounts .It's not real folks, and it is when we realise that the sh!t will really hit the fan ... See France. Buy a yellow jacket
     
    Last edited: Dec 20, 2018
  4. slipperyfish

    slipperyfish Well-Known Member

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    Capitalism is just fine, it is the greedism that finds it way in from time to time that destroys the concept.

    People can’t help themselves. Greed has been in our lives since Ug was a boy, standing over a carcass in some cave. It is human nature, small minds believe to have more is power, what they forget is that some of the most powerful people the world has ever seen, have had nothing, tangible that is.
     
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  5. ThirdTerm

    ThirdTerm Well-Known Member

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    Investors are nervous because of the ongoing trade war between China and the US, which was made worse by the charges against two Chinese hackers. Trump will be more willing to avoid an escalation of the China trade war that could disrupt the global economy.

     
    Last edited: Dec 20, 2018
  6. LeftRightLeft

    LeftRightLeft Well-Known Member

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    Capitalism is greedism ,the entire concept is about getting something for nothing. The system works in such a way that those that contribute least get the most.
    They do this by controlling everything from wars to what we hear and read.
    The internet however is giving the 99% knowledge and that is dangerous .
     
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  7. LeftRightLeft

    LeftRightLeft Well-Known Member

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    There were and still are places we would be hunted down and murdered for some of our conversations here.
     
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  8. VoxEphemeral

    VoxEphemeral Banned

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    The stock market doesn't mean much.......just rich people buying and selling.

    A good indicator of the booming economy is our Christmas buying.........and that's the best ever.
     
  9. billy the kid

    billy the kid Well-Known Member

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    Xmas buying is one of the biggest cons ever perpetrated on society. Its is commercialized to the max for the benefit of the retail industry. Everyone spends money they havent got extending to billions of dollars
    in Australia alone. Dont get me wrong..Xmas is for kids, and I always loved Xmas when my kids were
    little not so much nowadays due to the commercialism factor.
    BTW I wouldnt say our economy is booming..far from it..
     
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  10. billy the kid

    billy the kid Well-Known Member

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    The only reason the market goes up is the buy backs in each market...hence my opinion that its a gamble and day trading profits should not attract CGT.
     
  11. VoxEphemeral

    VoxEphemeral Banned

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    Our economy is booming. Accept the fact.

    The Fed wouldn't be hiking interest rates if it wasn't.
     
  12. billy the kid

    billy the kid Well-Known Member

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    If you are referring the USA market (in an Australian thread) then I have to disagree entirely.
    The US economy is NOT booming...it has been in a disguised recession for years. The Fed itself has admitted more than once in recent years that it doesnt know what its doing. My opinion is that the Fed will reduced rates by 2% next year, and that rates will not increase at all. Even Yellen was hinting recently that the Fed has got it wrong....but what would I know....
     
  13. VoxEphemeral

    VoxEphemeral Banned

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    Well, yes.......the Fed just may know more than you.

    All indications are that the U.S. economy is booming.

    That's a fact.
     
  14. billy the kid

    billy the kid Well-Known Member

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    Do you have any links which suggest that the US economy is booming. I think the Fed has cocked it up for years. Maybe I do know more than they do...well...yes....I do....
     
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  15. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Capitalism is about getting something for something.
     
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  16. billy the kid

    billy the kid Well-Known Member

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    https://www.zerohedge.com/news/2018...stons-homeless-population-soared-14-over-year
    This might help...
    Charlie Baker, Governor of Massachusetts, has made it a top priority to move homeless people from motels, tent cities, and temporary shelters to more stable housing options.

    Besides the real economy that is on life support, the Federal Reserve artificially juiced the real estate market by holding the federal funds rate at the zero lower bound for many years. In return, housing prices soared as wages did not keep pace. Many people were priced out of homes and could barely afford rent.

    The housing affordability crisis has been a significant driver of homelessness for the Greater Boston region and many parts of the state.........
    In the eyes of the Trump administration, mega-corporations, and Wall Street, it is the "greatest economy ever," but under the hood, the real economy is faltering, millions are broke, without jobs, living on the streets, and or addicted to opioids. America is imploding from within - the next recession will undoubtedly expand the homelessness crisis.

    Dont believe the lies of your leaders....
     
    Last edited: Dec 21, 2018
  17. VoxEphemeral

    VoxEphemeral Banned

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    Homeless people are not an indicator of how the economy is doing.

    Homeless people are hopeless addicts, psychos and rebels. We need to provide for them because they're not going to avail themselves of the jobs that are now readily available.
     
  18. VoxEphemeral

    VoxEphemeral Banned

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    I find it hard to believe that you possess greater expertise than that available to the FED.

    They would not raise interest rates unless the economy needed a cooling effect.

    They DID raise those rates.

    I'll give you a good information link, but I suppose I'm wasting my time if you actually think you know more than the FED.

    :wink:

    The worst news is that the economy could slow down a lot in 2021 or 2022.......but right now, things are great.

    https://www.usatoday.com/story/mone...year-but-still-post-solid-showing/2295297002/
     
  19. Moi621

    Moi621 Well-Known Member Donor

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    If you like,
    keep investing.
    If you get it,
    cease investing.



    Moi :oldman:



    :nana: :flagcanada:
     
  20. LeftRightLeft

    LeftRightLeft Well-Known Member

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    Absolute garbage. There are thousands of women and children alone that have had to sleep in cars due to marriage breakdown and no support, pitiful welfare and ridiculous high rents.
    This is a typical conservative's answer, it is their own fault, if you fall of the machine (or get pushed) you just get mangled up in the wheels.
    Capitalism is all about getting something for nothing, and as I have said a hundred times, the less you contribute, the more you get, unless that is, you fall through the cracks.

    Then you are disguarded completely, forgotten.
     
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  21. billy the kid

    billy the kid Well-Known Member

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    Know more than the Fed.....well, maybe I do when I read headlines like this...
    The Fed is incompetent, and has been for years...tightening when it should have been easing and easing when it should have been tightening...incompetent, grossly incompetent...
    https://www.zerohedge.com/news/2018-12-20/fed-could-bring-economy-crashing-its-knees
    Oh, and I agree with LRL...your previous post about the homeless was garbage...
     
    Last edited: Dec 22, 2018
  22. billy the kid

    billy the kid Well-Known Member

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  23. billy the kid

    billy the kid Well-Known Member

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    Last edited: Dec 22, 2018
  24. billy the kid

    billy the kid Well-Known Member

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  25. billy the kid

    billy the kid Well-Known Member

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