The Great Depression Ii?

[pongo]

Read it again Slim. What I am saying is that "pretty much everyone" seems to basically be on board with the doom and gloom mindset. I am saying that people have more or less accepted that.

 

It is an observation, not a prediction.

[Lxxx]

But nobody really questioned that or argued with you for suggesting that. That was never the issue.

 

TBH I think pretty much everyone is on board with the doom and gloom now and expecting the worst - they certainly should be by now given that we have all been drip fed the propaganda around this issue and prepared for the worst over the past few weeks. It's probably being talked about even in soap operas.

 

What does that actually mean? There's a big difference between Lxxx's financial armageddon predictions and a period of low growth with a bit of banker fallout. This non-specific 'WE'RE DOOMED' once again is bollocks, there is no certainty, the rough markets show that and if economists can't predict what's going to happen I don't see you can with such certainty.

 

True, no-one can tell you EXACTLY how it will play out, but I think one look at the state of the global financial markets and general economies at the moment can tell you we're not going to have nice, smooth, structured defaults followed a bit of a lull then crank it back up again. The whole fiat money system is in the end game, this is the home straight now. You can't solve a problem routed in too much debt with more debt. Sure you can kick the can along the road for a bit longer by printing more money and having a few bailouts but ultimately you reach the end of the line. We're on that road now and who knows what it will look like when we get there.

Our best hope is for a negotiated decline to lower levels of economic activity, that allow us to adjust our expectations to a new and lower level of consumption, which will hopefully offer a more meaningful existence not rooted in excess materialism. My fear is that this is exactly what the bankers DO NOT want, as who gets obscenely rich in that kind of world??