Quote:
Originally Posted by Jesus H Christ
I said this months ago, France is the one truly in trouble as far as the EU. France's stock market is minus -50% in the last 5 years and currently trading at 1997 level. This means all their SM gains in the last 15 years are gone. France is the largest shareholder of Greek, Italian, and Spanish debt, plus with a shitty SM, their economy will also collapse by proxy.
The UK is in far more trouble, but they've manage to always pay their interest payments. The UK GDP is $2.25 Trillion as their external debt $8.9 trillion. The UK GDP yearly gains are 3% as 67% of these profits pay the interest of the debt and not the principle. In short, every British subject owes $143,009 from birth, compared to Americans $47,568.
Although that's bad, other Europeans are totally fucked.
Luxembourg $3,696,467
Ireland $519,070
Netherlands $226,503
So what does all this mean besides we are all fucked? If Greece says fuck it and defaults bank runs continue all across Europe, banks can't loan money with (9x) fake money, and credit market freezes, production slows, spending slows, job loses, foreclosures, property values collapse, GDP decreases, interest on loans don't get paid, countries default, social services stop, crime increases, civil unrest, and finally a type of Martial law.
Or keep giving Greece money and worry later about the inevitable. |
I stopped keeping up to date with all this stuff about 2 years ago because it was too depressing, your post is an up to date sobering reminder of the absolute shit we are all in.
Great post
How are you protecting yourself against what seems like the inevitable? Gold, stockpiling food, land etc? You've mentioned you're big into promoting the survivalist websites online, personally I don't want to go down that road of thinking again.
I jumped the gun on that scenario back in October 2007 when the global banking system was days away from collapsing, converted most of my savings to gold and told everyone I knew to go out and stockpile food thinking we where doing a repeat of the 1930s bank runs.
But governments decided to prop up the banks this time and everyone I had told decided to mock me for my actions, my investment has more than doubled in value though so it's not all bad
Quote:
Originally Posted by pornguy
The collapse of the banks might be the very best thing that could happen.
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Would probably be less painful longterm but it'll start World War III
