Are you prepared for the financial armageddon?
- Thread starter maniac-kun
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Escape Goat
Member
Zimbabwe probably has the most fucked up economy on the planet. Can you even still call it an economy?
sans_pants said:
no the US and europe go third party while other countries take over the top spot.
the bean counters can try and fuck around with the numbers all they want the economy is completely fucked. thats what happens when your run shit like a spoiled teen with a limitless creditcard.
im guessing the solution will be this:
Goldrusher
Member
ThoseDeafMutes said:
green = rich
red = poor
DragonKnight
Member
Isn't this shit in the bible and now the Antichrist is supposed to come and unite Europe and all that good stuff?
Edit: Any takers?
Edit: Any takers?
ClosingADoor
Member
Means nothing if it's just totals and not per citizen.Goldrusher said:
ThoseDeafMutes
Member
Goldrusher said:
green = rich
red = poor
Yes, your graph is amazing because clearly Australia is economically worse off than fucking Greece. If you have a point, please make it, because that graph is not even close to showing a full picture. For instance, "current account balance" (what you're showing there) has been consistent in Australia for decades, but the economy has still been growing very healthily for the last 20 years.
The Technomancer
card-carrying scientician
I'm going into one of the most consistently employable fields on the planet, so I've prepared myself as best I can really.
speculawyer
Member
I still think everyone seems to be missing a big factor: oil. Our modern economy runs on oil and it went from $20/barrel in 2000 to $115/barrel (Brent) today. That is just a huge increase in a primary feedstock of our economic system. The left & right argue whether more or less government spending is needed . . . but neither plan does anything about the price of oil. Nothing can. Higher oil prices increases the cost of living for everyone everywhere. Thus, we all have our standard of living reduced. Period. We just can't seem to deal with that fact since a global resource constriction without a decent alternative is not something we have had to deal with . . . ever.
Now quote my avatar.
Now quote my avatar.
speculawyer
Member
Yeah, this. Money is loaned into existence. Thus, as more money is created, the net debt is always increasing. But generally, that is not a problem as long as everything keeps growing.maniac-kun said:
But everything is not growing now. And that is good because infinite growth is technically impossible. But we haven't figured out how to adapt our system to run well w/o endless growth. We need to figure it out.
gwarm01 said:
But our ingenuity cannot violate the laws of physics or thermodynamics. We have been able to kick ass for the last couple centuries since we were able to tap into a massive store of bottled up energy in the form of fossil fuels. And although those fossil fuels are no where near running out (they won't run out in our lifetimes), we did use up the cheap easy-to-access stuff first. The remaining stuff is more & more expensive. Oil is the only one we are having problem with right now and the problems have only just begun . . . yet look how bad things got.
Kabouter said:
No we're not, we actually have to import oil from Venezuela to keep our refinery running. If anything we're making money from Natural Gas.
The reason I'm surprised is that the previous government squandered billions of dollars on various projects and blatant corruption in their tenure which has left the country in a somewhat bad situation financially. Right now trade unions are up in arms vs the Govt, there's a situation with a local conglomerate among other things. Doesn't help that this Govt doesn't seem to have a clue either.
speculawyer said:
Nuclear Power and Electric Cars/Trucks would solve a good deal of this problem, but so many people look at the short term that it'll never happen in time.
The system itself is not only at fault, it's the crippling shortterm-ism that comes with that system.
Additionally, those living under the delusion that their economy will survive if the US and Europe crash are grossly misinformed, if the US and EU go down, everyone goes down, there are no exceptions. The wonders and benefits of global trade has made everything so entangled that we're all in this together.
Heavy gas taxes, the kind that have pushed the current price of petrol to around 1.75 a liter (Some $9.40 per gallon) here do, at least in part, force the economy to adjust to higher oil prices sooner though.speculawyer said:
I must have been confused with natural gas exports then, my bad.spoonztt said:
I'm pretty sure the effects on the North-Korean economy will be limited, much like the USSR dodged the Great Depression bullet. Not that it isn't still a massive shithole of course.Xavien said:
GoldenEye 007
Member
Too bad they will probably just be dissolving the currency altogether, if they haven't already.Stumpokapow said:
Fox Mulder
Member
GoldenEye 007 said:
I believe they ditched them a few years ago. I read an article on how they're big collector items now though, worth 3-5 dollars.
Yay capitalism...right? Just realize, world, that money and how we treat it is what´s wrong. Of course, the rich won´t accept that since it benefits them.
Had me lol much, thank you.
Laugh as long as you can before those monster spiders eat you!
-viper- said:
Had me lol much, thank you.
ThoseDeafMutes said:
Laugh as long as you can before those monster spiders eat you!
sans_pants
avec_pénis
Sennorin said:
its not the system, its the people who run it
goomba said:I must say i am worried about this, mainly because many of the doomsayers pre 2008, who were ridiculed and ignored are the same ones predicting things to get worse
Not that theres anything we can do about it...
<----
I used to be incredibly politically aware, active, etc. on the national level. But I've largely given-up hope on that; our problems are already "baked into the cake" and unavoidable. These times will still be regarded as "the good ol' days," and the coming decades will be an incredibly interesting time to be alive.
Otherwise, individual/family preparation is the best thing you can do.
Escape Goat
Member
i bought some water and canned goods over the weekend.
I think i am ready.
I think i am ready.
elrechazado
Banned
I've got food and water storage ready. Bring it on.
Conciliator
Banned
I am actually a little concerned about the debt ceiling thing. It is unsettling to know that some of the most powerful people in the world are willing to pretend like they don't realize raising the debt ceiling is necessary so that they might pander to their constituency. They'll break before the deadline though...at least I hope.
Beyond that: I'm not sure how far back perpetual economic apocalypse goes, but as a 26-year-old I've heard my entire life that the economy is about the implode. And the rapture is about to happen. Or just the end is near in unspecific terms. Ya'll be really hungry for some societal collapse. Perhaps you're hoping for escape.
We've been in terrible debt before. We got out. Ironically, the state of the debt/surplus appears to have more to do with the state of the economy, rather than vice versa. We ran a surplus in the 90s, and we'll run one again. And then we'll run a huge debt and face imminent economic collapse, and then we'll run a surplus again. Or not, anything could happen at any time, but the world's best economists can't say that with any certainty, and you guys definitely can't.
THAT SAID, I don't have a car payment, my house payments are low because I have 30% equity in my home and refinanced, and I save a lot of money. I'll be as set as anyone in the middle class.
Beyond that: I'm not sure how far back perpetual economic apocalypse goes, but as a 26-year-old I've heard my entire life that the economy is about the implode. And the rapture is about to happen. Or just the end is near in unspecific terms. Ya'll be really hungry for some societal collapse. Perhaps you're hoping for escape.
We've been in terrible debt before. We got out. Ironically, the state of the debt/surplus appears to have more to do with the state of the economy, rather than vice versa. We ran a surplus in the 90s, and we'll run one again. And then we'll run a huge debt and face imminent economic collapse, and then we'll run a surplus again. Or not, anything could happen at any time, but the world's best economists can't say that with any certainty, and you guys definitely can't.
THAT SAID, I don't have a car payment, my house payments are low because I have 30% equity in my home and refinanced, and I save a lot of money. I'll be as set as anyone in the middle class.
water_wendi
Water is not wet!
At least we have clean water and cable tv.
Not to downplay alternatives to the internal combustion engine, but there is a big problem with that too. Our economies run on credit and financing just as much as they run on oil. Petrol is like financing for a car - if you are going to own a car for 3 years and it will consume, say, 3,000 liters during that time (I honestly have no idea how accurate that is - I pulled the number from thin air so please treat it as such). the price of the car is how much you bought it for + 3,000 liters of petrol*price of said petrol. With an electric car, the price of the battery is part of the car and so the price of the car is mostly front loaded. How many people would have the money to pay for the mileage upfront? Would banks be able to finance that for customers?Xavien said:
Electric cars are a beautiful model in a very low scale environment. But what happens when you have to sell 20 million cars a year and they are all electric with the price of mileage as part of the car? It suddenly becomes too much money to subsidize\help finance.
UltimaPooh
Member
flsh said:
What? You buy a new battery?
The idea with an electric (or plug at home hybrid, for that matter) is that you buy the car with the battery, which costs a lot of money (and will add the the price of the car, obviously). You than pay significantly less (especially outside of the US, which enjoys very low taxes on petrol compared to other parts of the world) on mileage since electricity costs are far lower than petrol. You still pay a lot more upfront, however, which may cause a problem.UltimaPooh said:
SapientWolf
Trucker Sexologist
Maybe on the macro level, but fractional-reserve banking still exists.Ace 8095 said:
The article seems kind of FUDdy. I don't see hyperinflation happening without a corresponding increase in wages to enable it. Wages are definitely not going up these days.
UltimaPooh
Member
flsh said:
Why would you pay more upfront aside from it being a new technology? Once electric cars are mass produced like regular cars they should stay the same in price. The only losers would be gasoline companies.
spermatic cord
Member
I got my
and
sans_pants
avec_pénis
Sennorin said:
sure, power corrupts and all that. but you can also argue that communism is like fighting human nature
I have a sinking feeling that US student debt will outlast an kind of financial armageddon unfortunately...if not, then fuck yes!
I still think we are due for an upheaval for the greater portion of people's student debt. Partial forgiveness, claiming bankruptcy, or at least death must be allowed to forgive it. Wasn't there a thread talking about how student debt has passed credit card debt? If the US gov't forgave some student debt (with job requirements or salary requirements) then we would see such a surge in spending/quality of life.
I still think we are due for an upheaval for the greater portion of people's student debt. Partial forgiveness, claiming bankruptcy, or at least death must be allowed to forgive it. Wasn't there a thread talking about how student debt has passed credit card debt? If the US gov't forgave some student debt (with job requirements or salary requirements) then we would see such a surge in spending/quality of life.
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