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Author Topic: Debt burden is killing us  (Read 5885 times)

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wolfie

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Debt burden is killing us
« on: October 16, 2015, 08:42:38 am »

I think the financial meltdown has already started. Stock Markets are so far overvalued that it is more like a casino then a financial institution where fair value is traded.
If anyone thinks that our banks or our super's are safe, well keep hoping. We hear a lot about how safe our banks are but we live in a global world and when it all comes down our banks won't be safe.
Remember Greece...... well they got another bailout. The Greeks couldn't pay back what they owed then and giving them more loans will make it better?
Europe is now being over run with refugees and more are ready to come. This will put even more strain on all of them as someone will have to pay for it all.

Our society has build such complex system and any hick up  will only accelerate the process.
70 to 90% of things we use today we don't really need. We employ massive amounts of people in areas which produce nothing of value eg financial sector.
We also have created a system of just in time and supermarkets have only food for less then 3 days. For fuel it is even less.
Our utilities (power, sewerage)  aging and aren't being maintained because profits need to be made as they are being privatized.
As you dive into this subject further you can see that our system needs a complete overhaul and only a crash will make us change to what we need to do.
One last thought.
99.9% of people in the world won't see this coming and it will get ugly.
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Azzaaa

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Re: Debt burden is killing us
« Reply #1 on: October 23, 2015, 01:39:28 pm »

Wolfie you are looking in the right place and calling it well. The collapse is in our near future and it will begin in Europe due to government being in debt well beyond their capabilities of repaying once interest rates rise. You raise a good point that consumers do not need most of what we buy but this is how people will survive by cutting back on non essentials . There is a large capacity to reduce spending that way. However this will reduce the economy considerably making the collapse even worse.
           The thing to consider here is that the government cannot reduce spending any further as they have made promises in health/unemployment/pensions and with higher interest rates chewing up more of their revenue they will be forced to borrow even more and there lies the seeds of collapse. Government defaults. They all end up like Greece.
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OzHippy

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Re: Debt burden is killing us
« Reply #2 on: October 24, 2015, 02:00:38 pm »

I have stated plenty of time, one does not need to have  PhD in finances to understand you spend more than you earn you go broke.  Also no country that has ever printed money has had a good result.

Since August this year things have started to accelerate.
Just this week:
  • Japanese have promised to accelerate and increase money and economic stimulus
  • The ECB the (European Central Bank) pushed stocks like 4% this week by promising to increase the already $60Billion a months stimulus as well as push interest rates ever further negative
  • The Chinese dropped interest rates for the 6th time this year
  • Australian banks put up interest rates independent of the banks to sure up cash in case of another crash, what do they know!!

Now that is a lot of craziness for one week, Chinese GDP down US economy down lots of bad economic news this weeks, and the printing presses are being revved up.  US holding back on bond sales due to debt ceiling and no guarantee of quick resolution.  Stocks going up like mad, but I think most of the money on stocks is borrowed money as number of investors is getting less. 

I was expecting a crash this month, but even more stimulus no doubt within 12 months it has to fail.
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doomsdayprepper4570

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Re: Debt burden is killing us
« Reply #3 on: October 24, 2015, 02:17:17 pm »

Worked a few shifts years ago with a young doctor from Brisbane. He and his wife had a $500,000 line of credit which they used to buy shares with. He was so happy and was going to be a millionaire in 5 years! I often wonder what happened to him and how his and the wife's stocks and shares etc are going today. Maybe they live in a rented flat somewhere in Brisbane or somewhere cheaper in rural qld!
Like grandad said, even the doctors and lawyers were walking the roads during the last great depression. I just wonder what will happen to all the multi-million $ houses in Melbourne, Brisbane, Sydney etc?
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

Azzaaa

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Re: Debt burden is killing us
« Reply #4 on: October 26, 2015, 11:04:00 pm »

The rapid expansion of the money supply is common to economic collapses. It occurred before the fall of Rome, Athens and the Byzantine empire. Government reacts to the contraction of the economy by creating both money and debt. Nothing new there. They react the same way every time. That is further confirmation that the collapse is drawing near.
         
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crocsurfer

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Re: Debt burden is killing us
« Reply #5 on: November 27, 2015, 08:03:55 pm »

It's hard to imagine the calmness that is coming from the media and the US government while the whole world is on the precipice of such a major change in humanity isn't planned.  They seem to be very pleased with themselves from what I can see.  If that's what they want, it's working, if it's not, they are insane!
Perhaps both
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OzHippy

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Re: Debt burden is killing us
« Reply #6 on: November 27, 2015, 08:40:57 pm »

You are not allowed to view links. Register or Login
It's hard to imagine the calmness that is coming from the media and the US government while the whole world is on the precipice of such a major change in humanity isn't planned.  They seem to be very pleased with themselves from what I can see.  If that's what they want, it's working, if it's not, they are insane! Perhaps both

I just started another thread, with a few comments on current economic events.  You are not allowed to view links. Register or Login

I don't think it is planned, some discussion on the economic collapse blog. I do believe in conspiracies but this time I think they (Gov, bankers etc) will loose control, they created a monster that can't be controlled - as per discussion below, retired22 sums up my opinion very well. You are not allowed to view links. Register or Login

"Donald Wilson • 4 days ago
The Fed and the elites know exactly what they are doing. The end game is rapidly approaching. The holidays won't be so Merry when the drugs wear off and the pain sets in. Merry Christmas and and a Happy New Year. Good luck to everyone."


"retired22  Donald Wilson • 4 days ago
Donald,I disagree with you!
These Megalomaniacs have set loose forces they cannot control,..They are in full retreat!
Like that other madman,Hitler,they were doomed from the beginning with a game plan that was unworkable!
Humanities problems are not about the bankers succeeding,..the problem is the social wreckage they leave behind them as they go down in defeat!The wreckage & debris we will need to clean up when they are gone!

retired22  retired22 • 4 days ago
To put it simply,the financial elites created the modern welfare state administered by their high priests of Humanism known as Socialists!
The system was designed to keep the masses
docile & quiescent by tossing bones to them in the form of entitlements & benefits! this was known to the ancient Romans as 'Bread & Circuses'.The whole program was based on an ever expanding economy,...ever more prosperity.
The Welfare State created societies of welfare junkies addicted to hand outs & free benefits.
The problem we now face is a deflating world economy,there is no new prosperity to feed the welfare state with,the financial system has reached it's outer limits!
The Bread is all gone,...but the Circuses linger on!The big question in much of the world today is what to do to placate the hundreds of million of 'Welfare Junkies' who are desperate for a fix with no freebees available.The crazed mobs will rip up the destitute Welfare States in their desperation!

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doomsdayprepper4570

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Re: Debt burden is killing us
« Reply #7 on: November 28, 2015, 07:01:30 am »

Stick em into railway carriages and freight them to disused brick works fenced off like prisons.
Burn em all and once you have enough ash spread it across the country or just shoot em all and use the 3 man poly coffins spread across rural USA.
That will cure the welfare problem.
Have seem a lot of disturbing footage over the last 10 years or so from the usa.
Dunno if it is 100%, but if I lived overthere I would be worried! :o
The financial elite want it all and do not want the workers having wealth of any type.
A cleanout event of drones will help preserve natural assets for years to come for the elite and their families.
Just keep enough workers so that things can operate at a maintenance level controlled by the kingpins.
I just do not feel the love these days! ???
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

crocsurfer

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Re: Debt burden is killing us
« Reply #8 on: November 28, 2015, 09:15:43 am »

I hope it's not planned, a huge culture shift in whats left of the population to reform normality over the next generation or two and maybe it will be better one day but if it is planned there is some evil shit waiting for us. New World Order and Agenda 21 aren't conspiracies, they have been in print for all to see for many years. JFK spoke out about it, all the presidents that followed him didn't.
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doomsdayprepper4570

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Re: Debt burden is killing us
« Reply #9 on: November 28, 2015, 10:47:23 am »

I get info overload at times.
Just gotta stick to my game plan.
No debt and self-sufficiency.
All I am good at.
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Loose ends make my arse itch and I have just clipped my finger nails. So the itch flows to my trigger finger.

crocsurfer

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Re: Debt burden is killing us
« Reply #10 on: November 28, 2015, 11:57:07 am »

Most definitely the wisest approach, we can't save the world but we can minimize the impact.
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OzHippy

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Re: Debt burden is killing us
« Reply #11 on: November 28, 2015, 05:10:07 pm »

They are not in total control mother nature has some surprises coming in the near future.  During the dark ages a few elite royalty/land holder  ruled the rest were all peasants.  After the black plague took out 1/3 of Europe - no more peasant but wage earners and had the freedom to move if one did not like the situation.  Then the churches took over and put people under suppression so they fled to the US for freedom   - hence democracy and US constitution. 
We are at an end game this time Putin and China will throw a  spanner in the works and the nukes will start flying as well as bio-engineered plague.  There will be nothing left but a few ruined cites to fight over.

“I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”― Albert Einstein
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graynomad

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Re: Debt burden is killing us
« Reply #12 on: November 29, 2015, 10:54:24 am »

You are not allowed to view links. Register or Login
I get info overload at times.
Just gotta stick to my game plan.
No debt and self-sufficiency.
All I am good at.

Yeah me too. I subscribe to too many things that tell me what a shit hole the world is, sometimes I want to get active but really WTF for? What can I do anyway? Probably better to just get as prepared as I can and hope for the best.

Then I go outside and build something and it all goes away, working with your hands has that effect I find.

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Scattered showers my arse -- Noah, 2348BC.

crocsurfer

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Re: Debt burden is killing us
« Reply #13 on: November 29, 2015, 12:07:45 pm »

Tell me if I am missing something here! In todays news News.com tells us that business confidence and projected expenditure is forecast to be nearly flat-line in Australia in 2015-16 but the shining light is that health is the fastest growth industry then on the  gayBC website Jay Weatherill want's to increase GST to pay for increasing health costs.
once again this country is standing in a bucket trying to pick itself up by the handle.
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graynomad

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Re: Debt burden is killing us
« Reply #14 on: November 29, 2015, 12:43:50 pm »

If health is the only growth industry we are in trouble.

I assume that refers to the so-called "health industry", which as we all know is really the "sickness industry" as they have no interest in us all being healthy.
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Scattered showers my arse -- Noah, 2348BC.
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