Warlord Posted June 7, 2022 Share Posted June 7, 2022 Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 (edited) "We're on the verge of the biggest economic catastrophe in the history of the country. If you thought the 2008 financial crisis was bad that was nothing compared to what's coming. That was just the warm up!" Are you listening @scottbeard? Everything he says can apply to the UK. Edited June 7, 2022 by Warlord Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 (edited) "What the government should have done during COVID was .... NOTHING" "The programs such as paycheck protection etc. were a disaster. A massive fraud. A massive giveaway". Ha @scottbeardwont like hearing this reality... Edited June 7, 2022 by Warlord Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 7, 2022 Share Posted June 7, 2022 34 minutes ago, Warlord said: "What the government should have done during COVID was .... NOTHING" "The programs such as paycheck protection etc. were a disaster. A massive fraud. A massive giveaway". Ha @scottbeardwont like hearing this reality... Trump did most of the borrowing and spending. $8 trillion dollars in just four years. The US should have followed China and adopted a policy of elimination rather than suppression. Zero Covid has resulted in incomparably superior healthcare outcomes wherever it's been adopted but also minimal economic and social interruption. Quote Link to comment Share on other sites More sharing options...
Locke Posted June 7, 2022 Share Posted June 7, 2022 56 minutes ago, zugzwang said: Zero Covid has resulted in incomparably superior healthcare outcomes wherever it's been adopted but also minimal economic and social interruption. Do remember to control your soul's desire for freedom and do not open your window or sing. Quote Link to comment Share on other sites More sharing options...
arthall Posted June 7, 2022 Share Posted June 7, 2022 59 minutes ago, zugzwang said: minimal economic and social interruption. Ah yes, China's doing great at the moment. Quote Link to comment Share on other sites More sharing options...
fellow Posted June 7, 2022 Share Posted June 7, 2022 1 hour ago, Warlord said: "What the government should have done during COVID was .... NOTHING" "The programs such as paycheck protection etc. were a disaster. A massive fraud. A massive giveaway". Ha @scottbeardwont like hearing this reality... No they should have done the exact opposite of what they did and restrict lending. If they forcibly restrict people's ability to produce goods and services through lockdowns then they should have also reduced people's ability to buy. Otherwise you just end up with more money chasing fewer resources and therefore inflation Quote Link to comment Share on other sites More sharing options...
scottbeard Posted June 7, 2022 Share Posted June 7, 2022 2 hours ago, Warlord said: "What the government should have done during COVID was .... NOTHING" "The programs such as paycheck protection etc. were a disaster. A massive fraud. A massive giveaway". Ha @scottbeardwont like hearing this reality... People are entitled to their opinions, but that doesn’t make their opinions reality. Quote Link to comment Share on other sites More sharing options...
msi Posted June 7, 2022 Share Posted June 7, 2022 oh look another 'end of the world' thread by the usual suspects.....surprised they have time to write them as they stock up on beans and ammo, dodging the 5G vaccines and mind control rays from the deep state. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 7, 2022 Share Posted June 7, 2022 I've not watched it so I'm guessing that he's not realised that the giveaways were deliberate to keep their system going. Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 2 hours ago, zugzwang said: Trump did most of the borrowing and spending. $8 trillion dollars in just four years. He said it started under Trump and mentioned that. Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 (edited) 27 minutes ago, TheCountOfNowhere said: I've not watched it so I'm guessing that he's not realised that the giveaways were deliberate to keep their system going. He said they (Yellen, etc) are either incompetent or liars. He said probably liars as they cannot be that dumb. And yes he says if they raised rates to the necessary level it would bring 0own the gov't due to the interest on their debt wou;d run to trillions a year just to service it It's the same sh1t here therefore expect inflation for decades he says. . Edited June 7, 2022 by Warlord Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 He reminds us that Paul Volcker (former Fed Chairman) raised interest rates to 20% in 1981 and that was due to 13% inflation measured under a different CPI. He says inflation is HIGHERR NOW than than if you use that same CPI. He said it's more like 15-20%. 0.25 or 0.5 rate hikes are not going to cut it either here or in the US. Quite a pickle we're in. @TheCountOfNowhere@Bruce Banner Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 7, 2022 Share Posted June 7, 2022 2 hours ago, arthall said: Ah yes, China's doing great at the moment. Correct. 👍 https://uk.news.yahoo.com/chinas-may-exports-imports-seen-043415886.html Exports in May likely grew 8.0% from a year earlier, accelerating from a 3.9% expansion in April, according to a median forecast in a Reuters poll of 28 economists. Major automakers ramped up production in May. Electric car maker Tesla reopened its factory in Shanghai on April 19 after a 22-day stoppage, but only returned to pre-lockdown production levels in late May. Shanghai's COVID-19 lockdown, which officially ended on June 1, snarled logistics and regional supply chains but there are signs of a turnaround. Official data showed the average daily container throughput at the Port of Shanghai rose 7% in May from a month earlier. "COVID disruptions to logistics, production and customs clearing seem to have started to ease since late April," said analysts at UBS, adding that South Korea's strong trade data in May likely pointed to still strong global demand. A low base of comparison from a year earlier also likely contributed to the rebound in export growth, according to Zhang Yu, chief analyst of Huachuang Securities. Imports were expected to have risen 2% year-on-year in May, the poll showed, likely driven by imports of raw materials and intermediate goods as domestic production resumed. That compared with flat growth in April. China's trade surplus is likely to have widened to $58 billion from $51.12 billion in April. Trade data will be released on Thursday. Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted June 7, 2022 Share Posted June 7, 2022 1 hour ago, msi said: oh look another 'end of the world' thread by the usual suspects.....surprised they have time to write them as they stock up on beans and ammo, dodging the 5G vaccines and mind control rays from the deep state. Heh. The doomsters are wrong so often, they must get it right one day? Stopped clocks, and all that...but as yet, a clean record. Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 45 minutes ago, Trampa501 said: Heh. The doomsters are wrong so often, they must get it right one day? Stopped clocks, and all that...but as yet, a clean record. The doomster I posted predicted the 2008 crash when people laughed in his face on television . The crisis has only been delayed but nothing wrong with the fundamental analysis. He is not a broken clock ,. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 7, 2022 Share Posted June 7, 2022 1 hour ago, Warlord said: He said they (Yellen, etc) are either incompetent or liars. He said probably liars as they cannot be that dumb. And yes he says if they raised rates to the necessary level it would bring 0own the gov't due to the interest on their debt wou;d run to trillions a year just to service it It's the same sh1t here therefore expect inflation for decades he says. . Yes, they cannot possibly be that stupid, ergo, all that we are witnessing is deliberate. A massive wealth transfer to the rich/government/bankers This wont end well if history is to be believed. Quote Link to comment Share on other sites More sharing options...
BaldED Posted June 7, 2022 Share Posted June 7, 2022 20 minutes ago, Warlord said: The doomster I posted predicted the 2008 crash when people laughed in his face on television . The crisis has only been delayed but nothing wrong with the fundamental analysis. He is not a broken clock ,. Economists were saying that the economy was unsustainable since 2005. There are so many parallels with what is happening today. Common sense dictating the current situation is unsustainable with sentiment dictating things will just carry on. Quote Link to comment Share on other sites More sharing options...
Warlord Posted June 7, 2022 Author Share Posted June 7, 2022 4 minutes ago, BaldED said: Economists were saying that the economy was unsustainable since 2005. There are so many parallels with what is happening today. Common sense dictating the current situation is unsustainable with sentiment dictating things will just carry on. Who apart from Schiff were saying subprime would blow u[p and collapse the banks? Not many. They laughed at him on TV numerous times throughout that period go look it up Quote Link to comment Share on other sites More sharing options...
scottbeard Posted June 7, 2022 Share Posted June 7, 2022 33 minutes ago, Warlord said: The doomster I posted predicted the 2008 crash when people laughed in his face on television . The crisis has only been delayed but nothing wrong with the fundamental analysis. He is not a broken clock ,. If you had a comprehensive list of every single thing he had predicted vs reality then it might be more compelling. Very easy now for someone to post a link to being right in 2008 and overlook all the links to other things he said that are complete rubbish. However, I would go further than to say "the crisis has been delayed." This is STILL the 2007/8 crisis. It is still going on. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted June 7, 2022 Share Posted June 7, 2022 Unfortunately, the economic system relies on an ever-expanding money supply to function and can't withstand anything more than a short period of deflation ... so inflation it always will be (until systemic collapse ensues). The name of the game is keeping it controlled - 2% or so seems to be the target needed to keep things ticking over. CBs will be 'happy' to see an economic shock, which they believe will kill the runaway inflation were are currently seeing ... but they will have to quickly step in with hyper-printing again to prevent the system collapsing and deflation taking hold (if indeed, we actually see real world consumer price deflation ... shortages of energy and food may prevent that). Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted June 7, 2022 Share Posted June 7, 2022 55 minutes ago, Warlord said: Who apart from Schiff were saying subprime would blow u[p and collapse the banks? Not many. They laughed at him on TV numerous times throughout that period go look it up Never pay much attention to TV presenters (who are there to promote an agenda) but there were plenty of famous voices who also predicted a crash eg Roubini, Keiser, Taleb. And besides which there were 1000s of posts on this very site. Which is why this site is so valuable, even if predictions here are wrong 99 times out of a 100. Quote Link to comment Share on other sites More sharing options...
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