"The global economy is at the point of maximum danger" - GoFuckYourself.com - Adult Webmaster Forum

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xmas13

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#1

"The global economy is at the point of maximum danger"

07-21-2008, 07:27 AM

http://www.telegraph.co.uk/money/mai.../ccview121.xml

"It feels like the summer of 1931. The world's two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.

The International Monetary Fund has abdicated into schizophrenia. It has upgraded its 2008 world forecast from 3.7pc to 4.1pc growth, whilst warning of a "chance of a global recession". Plainly, the IMF cannot or will not offer any useful insights.

Its 'mean-reversion' model misses the entire point of this crisis, which is that central banks have pushed debt to fatal levels by holding interest too low for a generation, and now the chickens have come home to roost. True 'mean-reversion' would imply debt deflation on such a scale that would, if abrupt, threaten democracy."

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gornyhuy

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#2

07-21-2008, 07:29 AM

Congrats to the winners!

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#3

07-21-2008, 07:41 AM

I think that there are a few simple things that can be done to start us on the track to getting the economy going again.

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#4

07-21-2008, 07:44 AM

I keep $99,999 in the bank, and $4.2 million under my mattress.

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jollyperv

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#5

07-21-2008, 07:53 AM
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crockett

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#6

07-21-2008, 07:53 AM

Do you ever post anything but anti US or Doom and gloom topics? I'm amazed you haven't jumped off a bridge by now, with your outlook on the world.

In November, you can vote for America's next president or its first dictator.
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spacedog

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#7

07-21-2008, 08:04 AM

Originally posted by jollyperv

What a misleading photo

every show I've ever been to all the handguns were in a glass case, not loose on a table like that.. I wonder if they're airsoft

Last edited by spacedog; 07-21-2008, 08:06 AM.
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J. Falcon

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#8

07-21-2008, 02:43 PM

Originally posted by spacedog

What a misleading photo

every show I've ever been to all the handguns were in a glass case, not loose on a table like that.. I wonder if they're airsoft

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testpie

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#9

07-21-2008, 02:59 PM

Originally posted by xmas13

http://www.telegraph.co.uk/money/mai.../ccview121.xml

"It feels like the summer of 1931. The world's two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.

The International Monetary Fund has abdicated into schizophrenia. It has upgraded its 2008 world forecast from 3.7pc to 4.1pc growth, whilst warning of a "chance of a global recession". Plainly, the IMF cannot or will not offer any useful insights.

Its 'mean-reversion' model misses the entire point of this crisis, which is that central banks have pushed debt to fatal levels by holding interest too low for a generation, and now the chickens have come home to roost. True 'mean-reversion' would imply debt deflation on such a scale that would, if abrupt, threaten democracy."

The solution's been around for ages:

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sltr

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#10

07-21-2008, 03:08 PM

in such a complex global economy how does anyone purport to know what maximum danger is?
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#11

07-21-2008, 03:20 PM

best host: Webair | best sponsor: Kink | best coder: 688218966 | Go Fuck Yourself
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Bdiddy

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#12

07-21-2008, 03:29 PM

Welcome to two years ago: trendsman.com

FIAT currencies don't last and the ones who survive will be those who can produce within their respective industries. While all the major news outlets have mocked "GDP's" as being insignificant, they will soon get a correction as the market does/is.

There's a reason Gold has been used to back currencies since antiquity. Too bad globalization and the subsequent rulers forgot the basic rules of economics.

Good night and good luck

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#13

07-21-2008, 03:29 PM

this response says it all:

US Average Joe,
It is the same here in the U.K. Cars in the driveway worth more than the owner earns in a year or more; second homes bought with a deposit from 'equity withdrawal' on their main residence in the expectation that property only rises in price, and interest rates always stay low.

All that from people on modest incomes in a highly taxed society where living costs exceed U.S. living costs.

Mad, isn't it? I didn't buy into that madness. It appears you didn't either. It's people like us who will ride out this storm, and people who blame others who will seek vengeance or 'debt forgiveness' at the national level.

Nations have defaulted on their debt in the past, just like individuals have done.

Tin hats on. Only the comfort of family, friends and living within one's means will get honest folk past this madness, in my opinion.

This is not about religion, creed or culture. This is about personal responsibility, and protecting the vulnerable (children and old folk come to mind for me).
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Bdiddy

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#14

07-21-2008, 03:34 PM

Originally posted by sherm

Tin hats on. Only the comfort of family, friends and living within one's means will get honest folk past this madness, in my opinion.

This is not about religion, creed or culture. This is about personal responsibility, and protecting the vulnerable (children and old folk come to mind for me).

No tin hats necessary...truth is, if people had this state of mind after the 1960's, we wouldn't be in this mess...

"the system of Credit is the will of others to do what they're too inpatient to achieve themselves." - bdiddy

Last edited by Bdiddy; 07-21-2008, 03:36 PM.

"..and which one of you had the prime rib?" - Waiter

"frankly, I don't see how that's any of your business!" - Peter Griffin
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Tom_PM

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#15

07-21-2008, 03:40 PM

Anyone catch the series that ran on Discovery with Ted Koppel visiting and exploring the modern economy of China?

People there who are doing well tend to buy cars (foreign if they can afford it) and they pay CASH. People there doing well tend to also buy homes similar to anywhere else.. once they've SAVED the CASH to buy it. Literally they save and buy things when they can literally afford it with out of pocket cash.

chinese != suckers.

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Ayla_SquareTurtle

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#16

07-21-2008, 03:43 PM

Not that this has fuck-all to do with the topic, but they don't put the handguns in glass cases at the gun shows I've been too. They are tethered together and to the tables.

gone. long gone.

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testpie

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#17

07-22-2008, 01:18 AM

Originally posted by sherm

...living within one's means will get honest folk past this madness, in my opinion.

I'm so glad someone else shares that opinion. The amount of times I've tried to explain to people that "If you can't afford it, you shouldn't have it", but no; most people feel some kind of "right" to each and every consumer good ever made, regardless of their current income and level of savings.

Indeed, it's companies such as BrightHouse (read ShiteHouse) who further this view in people, as they are willing to give loans (with an extortionate level of APR) to those who have CCJs because they have defaulted on loans in the past. Don't people ever think that, perhaps, you've been declined a loan by the world and it's dog because you're just plain shit with money?

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Alky

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#18

07-22-2008, 01:58 AM

Originally posted by spacedog

What a misleading photo

every show I've ever been to all the handguns were in a glass case, not loose on a table like that.. I wonder if they're airsoft

What a misleading post. Every gunshow I have been to in Texas has had them on the table.

And they are not loose, they are usually on a long wire cables that interlock... when the cable breaks alarm goes off.
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themonk

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#19

07-22-2008, 02:03 AM

we are going to die )

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tranza

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#20

07-22-2008, 03:00 AM

Can't beliave!

I'm just a newbie.
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