RC-Monster Forums  
RC Monster

Go Back   RC-Monster Forums > RC-Monster Area > General Discussion

Reply
 
Thread Tools Rate Thread Display Modes
Global Financial collapse
Old
  (#1)
PBO
RC-Unobtainium
 
PBO's Avatar
 
Offline
Posts: 1,032
Join Date: Jul 2008
Location: Sydney
Global Financial collapse - 08.04.2011, 09:26 PM

It's very hard to feel in any way confident about what is looming

The saying is "you get the politicians you deserve"............I want to vote in USA elections so I can choose the lesser of all evils. Past & current administrations have done little to avert this disaster...little wonder there are so many homegrown terrorists in the US

What was so pathetically obvious pre-sub prime collapse is now like a perpetual nightmare...you cannot keep borrowing to service debt. Finance 101 !!!!

Fingers crossed Australia survives reasonably well


Enhanced Rustler 1515 1.5 MMM
Losi 8ight-T
   
Reply With Quote
Old
  (#2)
Obeast44
RC-Monster Carbon Fiber
 
Offline
Posts: 95
Join Date: Oct 2008
08.04.2011, 10:19 PM

It is ridiculous here in the states. The price of living is skyrocketing, home values are plummeting, jobs are disappearing, those with jobs are losing wages, public services are diminishing and our infrastructure is falling apart.
Im considering getting a place back in the woods, and changing to a minimalist lifestyle to make it easier to ride out the coming storm. The majority of the people in this country just want to earn a modest living and "get by". With the way current things are proceeding it won't be possible. When it gets to that point, things WILL change,
   
Reply With Quote
Old
  (#3)
bumsnogger
RC-Monster Carbon Fiber
 
Offline
Posts: 140
Join Date: Apr 2010
Location: malvern,UK
08.05.2011, 10:12 AM

Hi ,in the UK we're linked to the rest of europe,which is falling apart quickly.The greeks have really fuggered things up.The Uk can't break away from 'em.We've had wars with the rest of europe within the last 200 years,we don't really get on (remember what the germans did 70 years back? ) & we have to support them. On another note,people have to spend to get the economy running again.Difficult when 1/2 the country's unemployed cause the banks /government cocked up :(
   
Reply With Quote
Old
  (#4)
J57ltr
RC-Monster Aluminum
 
Offline
Posts: 610
Join Date: Feb 2009
Location: Tomball/ Houston Tx.
08.05.2011, 10:32 AM

Southpark said it best "You either are voting for a Douche or a Turd Sandwich." Who else would spend millions upon millions to run for a job that pays 400K a year.

Jeff


The Warnings & Cautions discussed in this manual cant cover all possible conditions/situations. It must be understood that common sense and caution are factors which cant be built into this product.
   
Reply With Quote
Old
  (#5)
TexasSP
Something, anything, nothing
 
TexasSP's Avatar
 
Offline
Posts: 2,747
Join Date: Mar 2006
Location: Houston, TX
08.05.2011, 11:53 AM

Quote:
Originally Posted by PBO View Post
What was so pathetically obvious pre-sub prime collapse is now like a perpetual nightmare...you cannot keep borrowing to service debt. Finance 101 !!!!
or to service deficit. If I borrowed to service deficits in my spending I would never get out of debt.

Unfortunately I don't think many will be immune to these issues. While the US is the biggest piece of the pie it's not the only. People tend to lay blame on the US quite freely but EVERYONE has been a part of this.

The really interesting part to me is I believe that China is going to take the biggest hit themselves. No different than the banks financing bad debt except for the fact no one will be bailing China out.

The problem is in our country is the people need to stop paying attention to the partisan rhetoric on both sides and start using common sense. Finances are not anywhere near as complicated as people want to make them out to be. You also simply cannot have the government bigger than the private sector and it sustain itself. This goes for all spending types. Nothing should be off the table for spending cuts. Everything can be cut to some degree.

This will take sacrifice. However, a government cannot also talk taking more revenue (tax hikes) without first proving to it's customers (the citizens) that it can get it's spending under control. No business in the world can do this and keep it's customers and a government is no different.


www.cubicle101.com
A friends comic strip website.
   
Reply With Quote
Old
  (#6)
pinkpanda3310
RC-Monster Titanium
 
pinkpanda3310's Avatar
 
Offline
Posts: 1,152
Join Date: Sep 2008
08.05.2011, 12:07 PM

Quote:
Originally Posted by TexasSP View Post
The really interesting part to me is I believe that China is going to take the biggest hit themselves. No different than the banks financing bad debt except for the fact no one will be bailing China out.
Why will China take the biggest hit? I understand they are servicing a good portion of the world but they are a booming economy in themselves. Everyone has been watching and waiting for that bubble to pop but ......
   
Reply With Quote
Old
  (#7)
Obeast44
RC-Monster Carbon Fiber
 
Offline
Posts: 95
Join Date: Oct 2008
08.05.2011, 12:57 PM

They supply the world with the majority of its products.If the majority of the world doesnt have the money to buy said products, what will the Chinese sell?
   
Reply With Quote
Old
  (#8)
PBO
RC-Unobtainium
 
PBO's Avatar
 
Offline
Posts: 1,032
Join Date: Jul 2008
Location: Sydney
08.05.2011, 04:25 PM

Quote:
Originally Posted by TexasSP View Post
or to service deficit. If I borrowed to service deficits in my spending I would never get out of debt.

Unfortunately I don't think many will be immune to these issues. While the US is the biggest piece of the pie it's not the only. People tend to lay blame on the US quite freely but EVERYONE has been a part of this.

The really interesting part to me is I believe that China is going to take the biggest hit themselves. No different than the banks financing bad debt except for the fact no one will be bailing China out.
You're right, the US can't take all the blame but with an economy 3 times larger than the next closest it plays a significant role in keeping things stable

China...yeah, once it's customers don't have any money to spend it's curtains for them


Enhanced Rustler 1515 1.5 MMM
Losi 8ight-T
   
Reply With Quote
Old
  (#9)
Finnster
KillaHurtz
 
Finnster's Avatar
 
Offline
Posts: 2,958
Join Date: Apr 2006
Location: Bucks Co, PA
08.05.2011, 04:29 PM

Quote:
Originally Posted by Obeast44 View Post
They supply the world with the majority of its products.If the majority of the world doesnt have the money to buy said products, what will the Chinese sell?
They could help a lot and start buying from themselves. China will prob come down one day, no idea when. I do know they are starting to experience some pretty severe inflation as a consequence of their currency manipulation schemes.There is an unnatural imbalance that can't last forever.
Also, the Chinese workers will only tolerate being the world's workshop for so long until they demand a fair share of the things they produce. Sounds like things are starting to happen, but prob a slower process than many would like. If they got some money and starting buying goods from abroad that would be great.

I don't like what is going on right now, and thankfully I took advtange to sell out most of my positions in the July rally here. Since 2009 I've been very heavy in stocks w/ good results, but now almost all cash trying to figure out what to do next.

I'm pretty disappointed in the leadership we have, such as it is. All the focus is on debt and everyone has forgotten about job creation. As if solving the former will somehow fix the ladder. No one has a coherent explanation of how that would work, and all historical examples and economic models which show how "expansionary austerity" falls flat on its face, but that seems the driving mentality now.

I'm trying to stay a bit more upbeat about the US. We have plenty of options to act, but simply political paralysis, mistrust and fear to do it. That can change.

Europe tho, esp the Eurozone, seems in for a world of hurt. Strangely, its a policy direction some on the hard right want us to follow, but I don't think they are really aware thats the implication they are making. Since our president doesn't ever actually take a firm position on anything, I have no idea what he is doing.
   
Reply With Quote
Correct
Old
  (#10)
JERRY2KONE
JERRY2KONE SUPERMAXX
 
JERRY2KONE's Avatar
 
Offline
Posts: 3,452
Join Date: Sep 2006
Location: HAYMARKET VIRGINIA
Correct - 08.05.2011, 04:37 PM

Its funny how our Gov can give financial advice to us and to other countries about how credit is not for us to abuse and yet it has survived using that very thing up to now, and there is no magic money ball that will pay for this idiocy.

China will not only lose huge revenues from the lack of sales, but the majority of the people already live below the poverty level and when those revenues fail a large part of its population will suffer deeply. 100million screaming hungry Chinamen.

Looking at the current situation in the USA and considering the options for recovering from the nearly 4 trillion $ in debt the country has to fail, before it can even begin to recover. Shrinking our military will be one of the biggest savings, and it will surely leave our country volnerable. Clinton already cut the military in half during his administration leaving us open for disaster. Now Obama will likely do the same and leave our boarders wide open for an invasion. That is exactly what Bin Ladin was trying to do through his terroism tactics. If you think about it, it is working just the way he planned by getting us involved in too many wars spending more money than the country could afford, and that is exactly what he was counting on.

The weakened laws of the USA have also allowed too many people to file for bankruptsy and suffer little consiquences for their sorry handling of their own finances. The Gov can not simply file for the same and survive. The people are no longer the deciding factor in all of this. We are prisoners of this Gov and its rediculous handling of the entire situation. These idiots in charge are only going to make things worse and steal all they can from the people to make sure they have a good foothold to weather the storm when the economy comes crashing down, so they think. This is going to get a whole lot worse, before there are any real signs of recovery. The people will not give up. Its just not our way, but the Gov will drive us into oblivian if something does not change soon.

Obama is not the driving force behind any of this. It is the greedy fat cats in the Congress & the Senate that are controlling all of this. Our populations around the world have grown to a point of self destruction through greed, and the need for more resources. We simply can not keep growing in large numbers while our planet stays the same size. In the next 50-100 years soucial security in the USA will become the least of our worries. Food is going to become so scarces and unafordable for the average person that we will all have to fight for what it will take for survival. Yes our Gov leaders are out of control, and we will all suffer for this.


SUPERMAXX YOUR LIFE.

Last edited by JERRY2KONE; 08.05.2011 at 04:43 PM. Reason: CORRECTING
   
Reply With Quote
Old
  (#11)
PBO
RC-Unobtainium
 
PBO's Avatar
 
Offline
Posts: 1,032
Join Date: Jul 2008
Location: Sydney
08.05.2011, 04:59 PM

Quote:
Originally Posted by Finnster View Post
I don't like what is going on right now, and thankfully I took advtange to sell out most of my positions in the July rally here. Since 2009 I've been very heavy in stocks w/ good results, but now almost all cash trying to figure out what to do next.
You could do worse than speculating on the Australian dollar


Enhanced Rustler 1515 1.5 MMM
Losi 8ight-T
   
Reply With Quote
Old
  (#12)
pinkpanda3310
RC-Monster Titanium
 
pinkpanda3310's Avatar
 
Offline
Posts: 1,152
Join Date: Sep 2008
08.05.2011, 10:30 PM

Quote:
Originally Posted by JERRY2KONE View Post
China will not only lose huge revenues from the lack of sales, but the majority of the people already live below the poverty level and when those revenues fail a large part of its population will suffer deeply. 100million screaming hungry Chinamen.
This is the part that confuses me. The Chinese 'people' have never had it so good. Most of them wouldn't understand our perspective of a poverty line. I don't dissagree China will take a hit but I don't thinik they will take the biggest hit, I think they will be very resiliant.
   
Reply With Quote
Old
  (#13)
PBO
RC-Unobtainium
 
PBO's Avatar
 
Offline
Posts: 1,032
Join Date: Jul 2008
Location: Sydney
08.05.2011, 11:21 PM

It's all relative isn't it. Though the booming Chinese middle class will be the hardest hit & that's hundreds of millions of people

Standard and Poor's for the first time revised the US credit rating downwards to a AA+...that's a bigger issue than it first might seem


Enhanced Rustler 1515 1.5 MMM
Losi 8ight-T
   
Reply With Quote
Old
  (#14)
Finnster
KillaHurtz
 
Finnster's Avatar
 
Offline
Posts: 2,958
Join Date: Apr 2006
Location: Bucks Co, PA
08.05.2011, 11:53 PM

Nice. 90 times since 1939 have we raised the debt ceiling (which no other sensible country has) and the current bunch of yahoos just lost our AAA credit rating from S&P.

Britney Spears is a model for sanity and responsibility compared to some of the nutters we have in Congress.

Quote:
The political brinksmanship of recent months highlights what we see as
America's governance and policymaking becoming less stable, less effective,
and less predictable than what we previously believed. The statutory debt
ceiling and the threat of default have become political bargaining chips in
the debate over fiscal policy. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. Republicans and
Democrats have only been able to agree to relatively modest savings on
discretionary spending while delegating to the Select Committee decisions on
more comprehensive measures. It appears that for now, new revenues have
dropped down on the menu of policy options. In addition, the plan envisions
only minor policy changes on Medicare and little change in other entitlements,
the containment of which we and most other independent observers regard as key
to long-term fiscal sustainability.
   
Reply With Quote
Old
  (#15)
Finnster
KillaHurtz
 
Finnster's Avatar
 
Offline
Posts: 2,958
Join Date: Apr 2006
Location: Bucks Co, PA
08.05.2011, 11:55 PM

Quote:
Originally Posted by PBO View Post
It's all relative isn't it. Though the booming Chinese middle class will be the hardest hit & that's hundreds of millions of people

Standard and Poor's for the first time revised the US credit rating downwards to a AA+...that's a bigger issue than it first might seem
I'm hoping to hell its not. Doesn't make me feel good about it, but one glimmer of hope was Japan in 2000. They had their credit rating downgraded, but borrowing rates actually fell slightly.

Little solace to the self-inflicted gunshot wound. Jesus...
   
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump



RC Monster




Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
vBulletin Skin developed by: vBStyles.com