pouët.net

My mom who works in a bank said yesterday, this situation can be described with 4 letters, "Gier" (greed)

i'd rather see usa leading the monetary market as it is atleast some kind of democracy compared to india/china/russia. that's why i'm scared...

unseen has secret stockmarket dealings?

come on for fucks sake its not a tangible threat. if you don't already wake up every morning in a cold sweat because of the illusory personal threat of some anonymous disease or a general food shortage across the globe, then you shouldn't sweat global economic meltdown

need to sort out the seal on my air rifle hmm

Monetary market a democacy? Hahahaha. Its more like "take as much as you can with most blatant stupidy witout some non-banker noticing it." ....but this time, someone saw it. And then it goes like, "ooooh, im such a poor bank, i didnt know how this could ever happen. These 100 billion dollars were gone from one second to another, i swear!" its the same everywhere. I'm soon gonna apply to a wealthy bank as ...a CEO for example. Ruin it, say it was all my fault, get a few millions because i wasthe CEO of the bank and live richly. And since Communism has a bad name for various things already, people see no choice in doing it again and again. I see already those latin american countries overpopulate with bank managers living on their compensation. :)

I see this as a massive bubble created by central banks who have been printing way too much money and pumped it into the economy, thus inflating the price of houses and stocks. The healthy thing to do would be to get rid of the central banks and let the market sort things out until the air was out of the bubble, but the funny thing is that this will probably be used to empower the central banks and create some sort of global communist system.

The initial problem afaik was that the real estate market rated their values ("houses" etc.) much too high. The real value was much lower, also having to do with economy etc. This stuff is used as a security for large credits etc. and when the truth came out they started losing credits,, ratings, money. This happened month ago, afair.

i don't follow you at all with your last reasoning, but you're right about central banks being faulty, actually just ONE actually, the US federal reserve... the US have been living on insane credits for years!

I like how everyone's now an expert on those topics. Me I don't have a fucking clue.

To me, it seems the real problem is that in some countries the banks have been borrowing money and investing it. That made some kind of sense as they get money back, but the problem is that the loans are fairly short term. Now they need to repay the old loans, and they can't get new ones to cover it as no banks are lending to each other, so suddenly they need to pay far more than they own.

Some countries (like the usa and uk and iceland) have done that a lot, and actually owe a lot of money, which is why we're seeing big problems here, others like japan didn't do that (they're the ones lending us the cash actually) so I guess they'll be better off. Although if there's a global recession (likely it seems), then everyone will be hit (including all of us :( ).

The whole situation sounds crazy, but look at it another way: how many people here have a house bought on credit from a bank? And what would happen if the bank wanted their money back and no other banks would lend the cash? I know if that happened to me, I'd be bankrupt.

Iceland seems to be in the worst situation though - their economy is tiny, but the banks have been allowed to go crazy, borrowing tons of money and investing it. They own stuff all over the place because of that, but all on credit. I think they're about to lose it.. which is fair perhaps, but very shitty if you live in iceland :/

"To me, it seems the real problem is that in some countries the banks have been borrowing money and investing it."
This is basically all that banks DO.

"They own stuff all over the place because of that, but all on credit. I think they're about to lose it.. which is fair perhaps, but very shitty if you live in iceland"
I read somewhere that in the past few years icelandians have been taking their bank loans from japanese banks for some reason..

Pack your shotguns and ready to kill some cacodemons!!!

..oopps I forgot. I look like a caco :P

and the original culprit is the central/federal bank who has fixed a price of money far too low...

I've been warning everyone on this forum since 2005 that the oil peak will be there soon, that there will be no more economic growth because of that in the near future, and also to not get in debts for years because of that.

Next tricks: do not have a job 20km from your house , do not buy cars but bikes, support bio food, eat season vegetables, support your bio local farmers as you can, so that it does not generate food shipping, and relocalize your economy. Do not litsen economists.
Do not fall into survivalism, but spend more times in associative actions to find demoractic responses to the upcoming problems.

ah krabob, if you'd only warned the heads of state of influential world superpowers instead of warning pouet, maybe someone might have realised what would happen

... of course they are all aware. But since they know they can do nothing about resource depletion with their economic liberalism, they just don't tell. ( All occidental modern ecomic systems are based on growth (even communism). No growth, no system. )
http://www.lifeaftertheoilcrash.net/Index.html

read the "Is the Bush administration aware of this?" paragraph.

I like this one a lot:

and for a last serious post: - you should have a read -
http://www.degrowth.net/

krabob: your analysis about that very fact is so wrong, being eco-friendly nowadays is the ultimate snobism, and the best way for politicians to clean their dirty images.

Haha Zest teaching things to Krabob. Two giants collide, and the troll-o-meter reaches uncharted territories ! =)

the current food market, which ships food ingredients all over the planet (miles and miles for a simple yoghurt), once touch by the crisis, will turn more and more toward a junk-food market, (look at the news about the way food manufacturers tricks) and certainly more health problems. We got to dismantle this system.

heh, actually i share the same feeling as krabob about that crisis : i'm happy about it!

even if europeans will clearly face consequences in their daily lives i'm happy that this crisis is putting an end to the american model which has been dominating on the planet since the end of the ww2, since the Reagan era of deregulation.

but since they launched the first nuclear bombs at civilians, since they triggered several bloody wars who killed millions of civilians in korea, vietnam, iraq and instigated numerous putschs around the world, the so-called biggest democracy in the world has become an hypocritical and deceitful plutocracy led by oil and military-industrial complex.

i'm not communist at all, i just want a new world order, this crisis could very be the painful but bloodless way to achieve such a needed world revolution.

plus, some interesting videos from annie leonard,
which explains how the economy is bound to fall in crisis, for ecological and resource reasons: - very well done and funy - "the story of stuffs"
http://fr.youtube.com/watch?v=OqZMTY4V7Ts

Zest: Agree with your analysis of the problems with the US, but I don't agree that the solution is some utopian new world order revolution. At least I hope my country won't be forced to be ruled by such a world government, which I don't believe can be very democratic. Just look at how undemocratic EU is. It's like the more diverse cultures you try to rule at once, the less democratic it becomes. National sovereignty and true democracy FTW.