A correction is coming soon? New real 2008 like-crisis

[Bisha]

I was watching an interesting video by Max Wright from BitShares and I would like to discuss the topic at matter.

When the 2008 real estate crash happened, the States bailed-out the banks. After a banking failure in Cyprus in 2013, the European Central Bank opted by a bail-in instead of a bail-out, meaning they would take the money away from the depositors. In the aftermath of Cyprus, Ben Bernanke, then Head of the Federal Reserve, said that if a 2008-style crisis occurred in America again, the bail-in model would most likely be used because of its success in Cyprus. The European Central Bank, the International Monetary Fund, the Australian Central Bank and the Canadian Central Bank echoed his sentiments as well. The
International Monetary Fund went so far as to publish a report saying that the key to its success is that Depositors did not see it coming.

Those business cycles they put us through are usually around 7 years on average. 2008 + 7 years = 2015. It might not happen in 2015, but a
correction is coming soon.

What do you think it will happen if this bail-in happens again in such crisis? People will loose all their savings on the banks. A life's worth of work will disappear without warning.  What consequences could it have for everyone and for the world economy?

[Hawker]

Ordinary people don't lose money in a bail-in as deposit guarantees still apply.  Its company accounts and the like that are at risk.  This is actually a good thing as it pushes them to be somewhat careful where they put their cash deposits instead of assuming the taxpayer will pick up any losses.

[bigtimespaghetti]

UK BoE has similar legislation if I remember correctly. I think it unlikely the average joe will be affected directly unless something very extreme occurs.
One thing to remember is that the citizenry will not benefit, so expect a course of action that creates more government reach and less corporate responsibility. At a guess. The famous Martin Armstrong is calling for the End Times this September/October, and many others are taking the baton talking of crashes in the Autumn. I'm not bright enough to assimilate the information to make a truly informed decision, so I'm just being conservative with my small investments and concentrating on ways to cushion myself should the worst occur.

[Q7]

The question i always ask myself is the current cycle that started around 2008 already ended. Perhaps most of you would say that it has but from what I can see we are still very much in a state of decline and to say the least, the economy has not really recover. Whether we might see something similar in 2015 nobody will know but I'm sure many would agree if it goes down again, this time it will be big.

[LazerSMS]

I think we'll see the correction in late 2015 or 2016

[tyz]

I agree with you. I think the correction will come mid/late 2015 or in 2016. Probably it can come a little earlier. The trigger could be Greece. Greece has to pay 1,6 bln Euros of debt next two weeks and there is no agreement with the money lenders to this point. Everything point to a Greece bankruptsy at the moment. Could be the trigger for a big correction.

I think we'll see the correction in late 2015 or 2016

[Amph]

it was on december 30 of 2008 if i'm correct, you are insinuating that if something like this could happen again(by math this year) it will force people to invest in bitcoin to not lose money in the crash

well everything it could be at this point, we are near the final capitulation, something will happen for sure in the upcoming months

[differential350]

I agree with you. I think the correction will come mid/late 2015 or in 2016. Probably it can come a little earlier. The trigger could be Greece. Greece has to pay 1,6 bln Euros of debt next two weeks and there is no agreement with the money lenders to this point. Everything point to a Greece bankruptsy at the moment. Could be the trigger for a big correction.

I think we'll see the correction in late 2015 or 2016

Greece should repudiate it's debt, pull out of the EU and join the East (SCO). The West is on a death march. World power is shifting from West to East.

Not even Turkey is totally aligned with Russia/China, so I don't think they have the balls to do such a move at the moment (of course it'll happen, soon or later)

[transient858]

I was watching an interesting video by Max Wright from BitShares and I would like to discuss the topic at matter.

When the 2008 real estate crash happened, the States bailed-out the banks. After a banking failure in Cyprus in 2013, the European Central Bank opted by a bail-in instead of a bail-out, meaning they would take the money away from the depositors. In the aftermath of Cyprus, Ben Bernanke, then Head of the Federal Reserve, said that if a 2008-style crisis occurred in America again, the bail-in model would most likely be used because of its success in Cyprus. The European Central Bank, the International Monetary Fund, the Australian Central Bank and the Canadian Central Bank echoed his sentiments as well. The
International Monetary Fund went so far as to publish a report saying that the key to its success is that Depositors did not see it coming.

Those business cycles they put us through are usually around 7 years on average. 2008 + 7 years = 2015. It might not happen in 2015, but a
correction is coming soon.

What do you think it will happen if this bail-in happens again in such crisis? People will loose all their savings on the banks. A life's worth of work will disappear without warning.  What consequences could it have for everyone and for the world economy?

Same black swan event rarely repeated twice the same way.

[manselr]

They cant pay the debt and its not just the Greeks - its the Italians, Spaniards, the Portuguese, the French - fuck everybody is in hawk in that shit show. Lenders had no control over terms, and borrowers have no incentive to honor such terms.  Its a retarded dysfunctional arrangement at best. Germany gets the shaft, but, really, its the fucking banks that caused all this anyhow. To blame the Greek's blowing it on consumption or whatever - misses the point.