Economic Meltdown 2018

Skarekrow said:
I’ll have to go back and catch up...do I think it’s melting down is that what this thread is about?
Well Trump is certainly trying it seems.
I leave it at that until I can properly read up on the topics everyone is discussing.
I’ll get back to you!
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Yes the "meltdown" theme has been active this year in so many different ways (see my Intel thread too where it bit them pretty seriously early on in the year) but have not looked at the financial side yet - however shocks and disturbing developments there are to be expected, imo, for the next several years.
 
Emanuel Goldstein said:
@ruji @Skarekrow

Was wondering if you guys wanted to weigh in on this subject...?
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Like @Skarekrow, I'll have to catch up as well.

So maybe what I have to say without context might be obvious or out of context.
Quite simply that because there is now a greater difference between the rich and poor (and getting worse), our economy suffers.
 
Emanuel Goldstein said:
These things happen in cycles regardless of what happens in the whitehouse.... the math makes inevitable along with history. This was never going to end any other way...
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Hmmmm....Yes for sure they do...and you may be right as it’s usually wall st fucking around that causes things to go tits up, however one on thing...
I don’t quite agree....maybe it just shortens the length of time we are being fucked.
The Trump tax scam bill....if what I speak.
Yeah...look at all the taxes the middle class got...hahahaha....oh? It’s only good for two years for the middle class but permanent for the corporations and the wealthy?
IDK....man.
I wish they would just dissolve everyones’ student loans.
Someone needs to pull a giant hack job like Mr. Robot or “Fight Club” and wipe that shit off the records for everyone.
“Dude, I totally paid off my student loans like years before that ever happened, I don’t know what money you are talking about...can you show me some documentation that I didn’t?”
Hahaha...
Also...super job Congress blowing up the Frank-Dodd bill and regulations.
That will help alright.
Wages have stagnated since 1982.
Healthcare is the number one cause of bankruptcies in the US.
Sure...it will probably go down in flames...but we have before like you’ve said...I don’t doubt we will bounce back.
 
ruji said:
Like @Skarekrow, I'll have to catch up as well.

So maybe what I have to say without context might be obvious or out of context.
Quite simply that because there is now a greater difference between the rich and poor (and getting worse), our economy suffers.
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Some people think they are going to print money like its going outta style and there is gonna be a melt up in the stock market. These things are difficult to predict... but it seems like the smart money is getting out. Rumor says October or at least before the end of the year....
 
Skarekrow said:
Hmmmm....Yes for sure they do...and you may be right as it’s usually wall st fucking around that causes things to go tits up, however one on thing...
I don’t quite agree....maybe it just shortens the length of time we are being fucked.
The Trump tax scam bill....if what I speak.
Yeah...look at all the taxes the middle class got...hahahaha....oh? It’s only good for two years for the middle class but permanent for the corporations and the wealthy?
IDK....man.
I wish they would just dissolve everyones’ student loans.
Someone needs to pull a giant hack job like Mr. Robot or “Fight Club” and wipe that shit off the records for everyone.
“Dude, I totally paid off my student loans like years before that ever happened, I don’t know what money you are talking about...can you show me some documentation that I didn’t?”
Hahaha...
Also...super job Congress blowing up the Frank-Dodd bill and regulations.
That will help alright.
Wages have stagnated since 1982.
Healthcare is the number one cause of bankruptcies in the US.
Sure...it will probably go down in flames...but we have before like you’ve said...I don’t doubt we will bounce back.
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Normalcy bias, because they have created the perfect storm like you said... banks all systemic and connected and they blew their proverbial wad in 2008... I'm thinking new depression if we are not in one already....

Either way we are in for a hell of a ride... rumors abound that the banks are going to try and cover it up saying they were attacked by a virus and they are going to have to shut down the system and have a bank holiday a la 1929.... but rumors ... am I right...
 
A Guy said:
It's going to eat Fiat currency
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Honestly, not sure if it will. Bitcoin has the advantage of being the first cryptocurrency that was globally released, but the way the transactions are taking more time and cost + the difficulty of mining them now really doesn't make the currency future-proof. So it will eat some Fiat currency, sure, but it will never be sustainable in my eyes as a proper replacement of Fiat currency. Cryptocurrency is the future though.
 
dragulagu said:
Honestly, not sure if it will. Bitcoin has the advantage of being the first cryptocurrency that was globally released, but the way the transactions are taking more time and cost + the difficulty of mining them now really doesn't make the currency future-proof. So it will eat some Fiat currency, sure, but it will never be sustainable in my eyes as a proper replacement of Fiat currency. Cryptocurrency is the future though.
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No one can tell but it's opened the way forward in terms of how we view finance.
 
What are you talking about? Bitcoin is a fiat currency - or are you simply referring to traditional government-minted currencies?

In fact, you could argue that bitcoin is the most fiat currency, because it isn't backed by a large national government with all the (albeit now very limited) gold reserves/industrial capital that entails. Arguing that bitcoin is not a fiat currency is a ridiculous proposition because it simply has no inherent commodity value. Rice would be less fiat than bitcoin.
 
Man that 2018 meltdown was a bitch.
Glad we got through it with such little trouble.
 
Deleted member 16771 said:
What are you talking about? Bitcoin is a fiat currency - or are you simply referring to traditional government-minted currencies?

In fact, you could argue that bitcoin is the most fiat currency, because it isn't backed by a large national government with all the (albeit now very limited) gold reserves/industrial capital that entails. Arguing that bitcoin is not a fiat currency is a ridiculous proposition because it simply has no inherent commodity value. Rice would be less fiat than bitcoin.
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Suck the EU draft dodger
 
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