Bitcoin Forum
June 16, 2024, 01:23:48 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: Huff Post: Second Financial Crisis Looming  (Read 2556 times)
DooMAD (OP)
Legendary
*
Offline Offline

Activity: 3808
Merit: 3160


Leave no FUD unchallenged


View Profile
July 15, 2014, 11:44:54 AM
 #1

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?
jcoin200
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
July 15, 2014, 12:30:37 PM
 #2

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.
vuduchyld
Sr. Member
****
Offline Offline

Activity: 364
Merit: 250


View Profile
July 15, 2014, 02:19:36 PM
 #3

I'd say that is just typical HuffPo clickbaiting.  But I'm prepared to be wrong.
BitchicksHusband
Sr. Member
****
Offline Offline

Activity: 378
Merit: 255


View Profile
July 15, 2014, 02:28:42 PM
 #4

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.

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
IIOII
Legendary
*
Offline Offline

Activity: 1153
Merit: 1012



View Profile
July 15, 2014, 04:13:19 PM
 #5

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.
Leina
Full Member
***
Offline Offline

Activity: 152
Merit: 100


View Profile
July 15, 2014, 06:39:05 PM
 #6

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.
Ron~Popeil
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250



View Profile
July 15, 2014, 10:40:04 PM
 #7

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. 

hollowframe
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
July 15, 2014, 10:50:28 PM
 #8

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.
Bit_Happy
Legendary
*
Offline Offline

Activity: 2114
Merit: 1040


A Great Time to Start Something!


View Profile
July 15, 2014, 11:42:43 PM
 #9

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.

wenben
Full Member
***
Offline Offline

Activity: 164
Merit: 100


View Profile
July 16, 2014, 12:23:44 AM
 #10

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.
hollowframe
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


View Profile
July 16, 2014, 11:39:59 PM
 #11

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.
Bit_Happy
Legendary
*
Offline Offline

Activity: 2114
Merit: 1040


A Great Time to Start Something!


View Profile
July 17, 2014, 07:10:36 AM
 #12

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

Ibian
Legendary
*
Offline Offline

Activity: 2268
Merit: 1278



View Profile
July 17, 2014, 07:41:43 AM
 #13

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.

Look inside yourself, and you will see that you are the bubble.
Dalmar
Hero Member
*****
Offline Offline

Activity: 1092
Merit: 500

Life is short, practice empathy in your life


View Profile
July 17, 2014, 08:20:05 AM
 #14

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.


▄▄▄▄▄▄▄▄▄▄▄
▄▄████████████████▄
▄▄██████████████████████▄
 █████████████▀█████████████▄
▄█████████████▀ ▄█▀ ███████████
▄██████████      ▀▀  ████████████
▄█████████████   ▄▄▄   ▀▀██████████
█████████████▀   ████▄   ▀█████████▄
█████████████    ▀▀█▀▀   ▄██████████
████████████▀   ▄▄      ████████████
████████████   ▄████▄    ███████████
█████████      ██████    ██████████
█████████▄▄            ▄██████████
▀██████████  ██  ▄▄▄▄████████████
▀█████████▄▄█▄ ███████████████▀
▀██████████████████████████▀
▀█████████████████████▀
▀▀██████████████▀▀
▀▀▀▀▀▀▀

B i t c o i n t a l k   ▄▄▄▄▄

DONATION CAMPAIGN

                                     ▄
                                   ▄██
               ▄▄▄▄▄▄▄           ▄███
             ▄█████████▄        ████
▄▄▄         ▄████████████     ▄████▀
 ▀██▄▄      █████████████   ▄█████▀
  ▀█████▄   █████████████  ▄██████
    ▀█████▄  ███████████▀▄███████
     ▀██████▄▄▀▀██████▀ ████████▀
       ████████▄      ▄████████▀
        █████████▄  ▄██████████
         █████████████████████
          ████████████████████
          ███████████████████
          ███████████████████
          ██████████████▀▀▀
          ███████▀▀▀▀
          ▀▀▀▀

BE A HOPE
FOR A LIVABLE WORLD
▄▄▄█████████▄▄▄
▄▄███████████████████▄▄
▄▄█████████████████████████▄▄
▄███████████████████████████████▄
▄█████████████████████████████████▄
████████████▀▀▀▀▀██████▀▀▀▀██████████
███████████▀       ▀█▀       ▀█████████
███████████▀                    █████████
███████████                     █████████
█████████████                   ███████████
██████████████▄               ▄████████████
████████████████▄▄▄         ▄█▀▀   ████████
███████████▀▀     ▀▀█▄▄▄▄▄▄██     ▄████████
██████▀█▄                ▀▀▀█▄ ▄█████████
██████▄ █▄          ▄▄▄▄▄▄▄▀▀▄███████████
██████▄ ▀█                ▄████████████
██████▄  ██████▄▄▄    ▄██████████████
▀██████▄██████████████████████████▀
▀███████████████████████████████▀
▀▀█████████████████████████▀▀
▀▀███████████████████▀▀
▀▀▀█████████▀▀▀

ONE

little

HELP CHANGES
EVERYTHING

..DONATE..
titulng
Sr. Member
****
Offline Offline

Activity: 484
Merit: 250


HubrisOne


View Profile
July 17, 2014, 09:38:34 AM
 #15

No, I believe the U.S. government would be a "New Deal" to rescue the market, and save the world  Grin

.
  ◆

 
.
.
.


 
.



▄▄       ▄▄      ▄▄       ▄▄      ▄▄▄▄▄▄▄▄         ▄▄▄▄▄▄▄▄        ▄▄        ▄▄▄▄▄▄▄▄           ▄▄▄            ▄▄       ▄▄      ▄▄▄▄▄▄▄▄▄▄
██       ██      ██       ██      ▀▀▀▀▀▀▀██▄       ▀▀▀▀▀▀▀██▄      ██      ▐██▀▀▀▀▀▀▀       ▄▄██▀▀▀██▄▄        ▀██▄     ██      ▀▀▀▀▀▀▀▀▀▀
▀▀       ██      ██       ██              ██               ██      ██      ██              ██▀       ▀██         ██▄    ██      ▄▄
▄▄▄▄▄▄▄▄▄██      ██       ██      ▄▄▄▄▄▄▄██▀       ▄▄▄▄▄▄▄██▀      ██      ▐██▄▄▄▄        ▐█           █▌      █▄ ▀██   ██      ██▄▄▄▄
██▀▀▀▀▀▀▀██      ██       ██      ██▀▀▀▀▀██        ██▀▀▀▀▀▀        ██        ▀▀▀▀██▄      ▐█           █▌      ██   ██▄ ██      ██▀▀▀▀
██       ██      ██       ██      ██      ██       ██   ▄▄         ██             ▐█▌     ▐█▄         ▄█▌      ██    ▀█▄██      ██
██       ██       ██▄   ▄██       ██     ▄█▀       ██    ▀█▄       ██            ▄██       ▀██▄▄   ▄▄██▀       ██     ▀███      ██
██       ██        ▀▀███▀▀        ████████▀        ██      ▀█      ██      ███████▀           ▀▀███▀▀          ██       ██      ██████████
.

██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████

██████████████████████████████████████████████
.


.
.




▄███████████▄     
██▀       ▐█▀█▄   
██        ▐█  ▀█▄ 
██        ▐█    ▀█▄
██        ▝▀▀▀▀▀▀██
██               ██
██  ███████████  ██
██               ██
██  ██████       ██
██               ██
██▄             ▄██
▀█████████████████▀
WP
.


.
.


.


 
.
.
counter
Hero Member
*****
Offline Offline

Activity: 798
Merit: 500


Time is on our side, yes it is!


View Profile
July 17, 2014, 07:13:24 PM
 #16

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? 
Cicero2.0
Member
**
Offline Offline

Activity: 98
Merit: 10

★☆★Bitin.io★☆★


View Profile
July 17, 2014, 07:32:51 PM
 #17

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. 

DooMAD (OP)
Legendary
*
Offline Offline

Activity: 3808
Merit: 3160


Leave no FUD unchallenged


View Profile
July 17, 2014, 08:05:51 PM
 #18

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.
Ibian
Legendary
*
Offline Offline

Activity: 2268
Merit: 1278



View Profile
July 17, 2014, 10:12:29 PM
 #19

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.
Most people won't be in bitcoin in time. And they will hate us instead of themselves for it. Keep it in mind just in case.

Look inside yourself, and you will see that you are the bubble.
nutildah
Legendary
*
Offline Offline

Activity: 3024
Merit: 8124



View Profile WWW
July 17, 2014, 10:15:40 PM
 #20

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.

Do you realize what happens at the end of a Ponzi Scheme, every single time?

▄▄███████▄▄
▄██████████████▄
▄██████████████████▄
▄████▀▀▀▀███▀▀▀▀█████▄
▄█████████████▄█▀████▄
███████████▄███████████
██████████▄█▀███████████
██████████▀████████████
▀█████▄█▀█████████████▀
▀████▄▄▄▄███▄▄▄▄████▀
▀██████████████████▀
▀███████████████▀
▀▀███████▀▀
.
 MΞTAWIN  THE FIRST WEB3 CASINO   
.
.. PLAY NOW ..
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!