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Topic: Huff Post: Second Financial Crisis Looming - page 2. (Read 2594 times)

legendary
Activity: 3948
Merit: 3191
Leave no FUD unchallenged
Moreover Huffpost is not a source I would consult for financial information.

Perhaps, although they're still a step up from certain tabloid gutter rags like the Daily Mail and the Express.  The fact that Huffpost are publishing this when others aren't means they must be doing something right.  It's not like you're going to see many articles in the Wall St Journal where they admit people in the finance sector should be behind bars because they've been engaging in unethical behaviour and pillaging your future.



Clearly nothing has changed since the last crisis, aside from the rampant opportunism by banks and governments to capitalise on the situation and make more profits at the expense of everyone else.  Bankers aren't going to jail, regulations aren't really being tightened up to the point where it stops manipulation and fraud.  They've printed more money out of thin air and kicked the can down the road.  Extend and pretend.  But nothing has actually changed.  Are we destined for another massive crash?

Clearly the case and very well put i should add.  They basically put a ton of dirty bandaids on the gunshot wounds they gave us.  I think things are going to get real bad I just wonder how we will deal with the issues when the arise? 

When crunch-time comes, the government's way of dealing with it will no doubt be draconian and decidedly unpleasant for the average person.  Our way of dealing with it is better, as I'd like to think we're dealing with it here, right now.  The fact that most of us see merit in crypto is because we see the flaws in the present system.  If we look after it and help it grow, when the ship starts sinking, crypto will be an awfully nice looking lifeboat for the masses to dive on board.
member
Activity: 98
Merit: 10
★☆★Bitin.io★☆★
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.

I agree, the issue I am having is which baskets to trust. Right now I am doing 50% bitcoin and 50% precious metals. I don't trust stocks or any other traditional assets. Other than a retirement account I have very little invested in dollar related vehicles. 
hero member
Activity: 798
Merit: 500
Time is on our side, yes it is!
Clearly nothing has changed since the last crisis, aside from the rampant opportunism by banks and governments to capitalise on the situation and make more profits at the expense of everyone else.  Bankers aren't going to jail, regulations aren't really being tightened up to the point where it stops manipulation and fraud.  They've printed more money out of thin air and kicked the can down the road.  Extend and pretend.  But nothing has actually changed.  Are we destined for another massive crash?

Clearly the case and very well put i should add.  They basically put a ton of dirty bandaids on the gunshot wounds they gave us.  I think things are going to get real bad I just wonder how we will deal with the issues when the arise? 
sr. member
Activity: 484
Merit: 250
HubrisOne
No, I believe the U.S. government would be a "New Deal" to rescue the market, and save the world  Grin
hero member
Activity: 1106
Merit: 500
Life is short, practice empathy in your life
This doom and gloom crap has been said since 2009. There's nothing to be worried about so long the S&P 500 is above its long term moving averages. Buy the dip and enjoy the fed ponzi scheme while you still can.
legendary
Activity: 2268
Merit: 1278
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.

Bitcoin do not belong to the dollar and bond category. In time of deflationary crisis, even gold will take a hit.
That was exactly my point, telling the OP that buying bitcoinin mass is putting your money at a lot of risk.
Keeping your money in fiat is a lot of risk.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
Related article:
The Implosion Is Near: Signs Of The Bubble’s Last Days

"...At the end of the day, the Fed and its fellow traveling central banks have systematically dismantled the natural stability mechanisms of financial markets. Accordingly, financial markets have now become dangerous casinos in which speculative bubbles are guaranteed to build to dangerous extremes as the central bank driven financial inflation gathers force.  That’s where we are now. Again."
http://davidstockmanscontracorner.com/the-implosion-is-near-signs-of-the-bubbles-last-days

I'm concerned that this time the dire warnings might be correct.  Shocked
sr. member
Activity: 266
Merit: 250
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.

Bitcoin do not belong to the dollar and bond category. In time of deflationary crisis, even gold will take a hit.
That was exactly my point, telling the OP that buying bitcoinin mass is putting your money at a lot of risk.
full member
Activity: 164
Merit: 100
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.

Bitcoin do not belong to the dollar and bond category. In time of deflationary crisis, even gold will take a hit.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
The last global economic crisis was dramatic but a worst case scenario was avoided.
I fear this time could be even much worse, but I am hoping for a miracle.
sr. member
Activity: 266
Merit: 250
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
That sounds like you are putting all of your eggs in one basket. During the last financial crisis all asset prices moved together and fell throughout the crisis with the exception of the US dollar and US treasury bonds.
sr. member
Activity: 406
Merit: 250
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.

My wife and I have agreed to move our savings into bit coin as well. We pay bills with fiat, take out our weekly spending money, and the rest goes into bit coin. To some that might seem crazy but to us it is kind of crazy not to do it. 
full member
Activity: 152
Merit: 100
The next collapse will come without doubt, because none of the economic problems was solved, instead they were amplified by intervention policy. However nobody knows when this collapse will occur. It is possible that the current state of madness will continue for another year or two.

Moreover Huffpost is not a source I would consult for financial information.

They can keep delaying it until the creditor nations stop buying bond.
legendary
Activity: 1153
Merit: 1012
The next collapse will come without doubt, because none of the economic problems was solved, instead they were amplified by intervention policy. However nobody knows when this collapse will occur. It is possible that the current state of madness will continue for another year or two.

Moreover Huffpost is not a source I would consult for financial information.
sr. member
Activity: 378
Merit: 255
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.

Well, then it's a good thing I don't keep almost anything in there.
sr. member
Activity: 364
Merit: 250
I'd say that is just typical HuffPo clickbaiting.  But I'm prepared to be wrong.
hero member
Activity: 504
Merit: 500
Yes, unfortunately I don't think there is any way around it.  Tons of economists have been calling a worldwide crash in the near future, its been happening already, although in slow motion.  One country then another.  And when the banks start confiscating (stealing) money out of US bank accounts or declare a "bank holiday", it will probably be too late to get your money out.
legendary
Activity: 3948
Merit: 3191
Leave no FUD unchallenged
So I recognise that I'm preaching to the converted here, but second opinions are always welcome.  Based on this recent article, World Risks Second Crash Due To Soaring Debt, Warns Top Watchdog, how likely does everyone think it is? 

Quote
The global economy could be even more vulnerable to a financial crisis than it was back in 2007 due to the high levels of debt and markets' over-reliance on monetary stimulus, an international financial watchdog has warned.

Clearly nothing has changed since the last crisis, aside from the rampant opportunism by banks and governments to capitalise on the situation and make more profits at the expense of everyone else.  Bankers aren't going to jail, regulations aren't really being tightened up to the point where it stops manipulation and fraud.  They've printed more money out of thin air and kicked the can down the road.  Extend and pretend.  But nothing has actually changed.  Are we destined for another massive crash?
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