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Global Market Doomsday Clock Strikes...

Discuss issues related to business, finance, taxes, investments, cost of living in different countries, etc.

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Taco
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Global Market Doomsday Clock Strikes...

Post by Taco » August 18th, 2015, 2:18 am

You might want to stock up emergency supplies when you do your shopping this week. I know I am.

Global Market Doomsday Clock Strikes...
http://www.telegraph.co.uk/finance/1180 ... ntrol.html

And in other news...

Hedge Fund Billionaire Stan Druckenmiller Has Made A Huge Bet On Gold
http://www.businessinsider.com/druckenm ... z3j7cZbruf
“Every time a President leaves the White House after two terms, there is a recession within the next year"




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The_Adventurer
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Re: Global Market Doomsday Clock Strikes...

Post by The_Adventurer » August 18th, 2015, 5:06 am

While I believe this, let's look at this scenario realistically. People tend to blow these things way out of proportion.

Now, I wasn't around in 1929, but I was around in 2000 and in 2008. The dot com bubble burst and the fall of the tech world was nothing more than news on a screen. I read about it. I said, "Wow. That sucks." and life went on as normal. It is true that salaries irrevocably fell in the video game and Hollywood VFX industries, but we are talking about an industry where a lot of guys were making ice six figure sums as it is. Now they making high five figures. Depending on whether or not they were living beyond their means, some may have had to make some lifestyle adjustments. I, personally, didn't.

So 2008 came around. Did you or anyone you know end up on bread lines? Did you or anyone you know find themselves in a homeless shelter? I read, and heard, that a lot of people got wiped out, lost their homes and moved back in with their parents. A lot of small businesses couldn't cope and went under. It was very bad. I am not denying that. Still, life did not change one iota for anyone I know personally.

Things did change for new people I met at the time. This was around the time I went to Korea. The Korean won was great devalued and the family I was staying with, which used to be rich, had to move into a smaller home. Money was sometimes tight. Still, no bread lines, homelessness or rioting the street.

Now, a case can be made that this next crash will be worse than those previous. I wouldn't doubt it. There probably will be rioting in the streets. It's already happening in many places in the world. The middle class everywhere will shrink drastically, or possibly be wiped out. Still, the world is not going to become a global Philippines level slum.
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Tsar
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Re: Global Market Doomsday Clock Strikes...

Post by Tsar » August 18th, 2015, 2:55 pm

Taco wrote:You might want to stock up emergency supplies when you do your shopping this week. I know I am.

Global Market Doomsday Clock Strikes...
http://www.telegraph.co.uk/finance/1180 ... ntrol.html

And in other news...

Hedge Fund Billionaire Stan Druckenmiller Has Made A Huge Bet On Gold
http://www.businessinsider.com/druckenm ... z3j7cZbruf
He made a huge bet on "paper gold" but everyone knows there is not enough gold to fulfill the obligations of the "paper gold" (which include redeemable index funds like SLV and GLD, commodity futures on gold and silver, and futures options if one were to exercise the option and then redeem it as physical). If the dollar collapses or is heavily devalued the he could get a lot more dollars, or if gold goes up against and inflation rates surge he gets a lot more dollars.

Gold and silver are only owned when a person owns the physical element.

Taco
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Re: Global Market Doomsday Clock Strikes...

Post by Taco » August 20th, 2015, 1:17 pm

The_Adventurer wrote: Now, a case can be made that this next crash will be worse than those previous. I wouldn't doubt it. There probably will be rioting in the streets. It's already happening in many places in the world. The middle class everywhere will shrink drastically, or possibly be wiped out. Still, the world is not going to become a global Philippines level slum.
The middle class will be wiped out in most if not all countries and there's lots of evidence to support that idea.

Philippines peso is one of the few currencies in the world that is not crashing against the US dollar right now. As a result, the standard of living in the Philippines is slowly rising.

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xiongmao
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Re: Global Market Doomsday Clock Strikes...

Post by xiongmao » August 20th, 2015, 8:52 pm

The crashes usually come when we least expect them.

We'd really need a black swan. A possibility is Thailand having a civil war or something.

I'm taking money off the table now. Londoners are leveraged up. The Pattaya property bubble has burst. Dr Copper says we're in big trouble.

On the flipside, cheap oil ought to mean a lot of growth. So it would be dangerous to go short at this point.
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Taco
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Re: Global Market Doomsday Clock Strikes...

Post by Taco » August 26th, 2015, 4:28 am

This just in...

The World's Top China Analyst Has A Doomsday Scenario
http://www.businessinsider.com/charlene ... z3jsX4R0J8
“Every time a President leaves the White House after two terms, there is a recession within the next year"

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