Started on January 4th on the S&P500 and had a dead cat and...

Last night started the next and biggest leg down

The Crash is on - its a good buy market - goodbye house, goodbye car, goodbye job.

About time.

100 years ago - Great Pandemic/Great Depression/WW1

Now - Great Pandemic/Great Inflation/WW3

Wall street crashed overnight:

Markets

DOW
     32,283.40      -1008.38      -3.03%

S&P 500
     4,057.66      -141.46      -3.37%

NASDAQ
     12,141.71      -497.56      -3.94%


https://edition.cnn.com/business

Boris are you going to start one of these threads every few days in the hope that one day you will be right?

https://edition.cnn.com/business/live-news/stock-market-today-jackson-hole#h_c439d56513b6861a2243b67f53e3e98d


2 hr 49 min ago

Dow plunges more than 1,000 points following Fed comments


US stocks plummeted on Friday following a warning from Federal Reserve Chair Jerome Powell that the central bank will not end its fight against rapid inflation anytime soon. 

Powell’s comments weighed on investors, who grappled with what more aggressive interest rate hikes might mean for the health of the economy.

    The Dow closed down 1008 points, or 3%.
    The S&P 500 fell by 3.4%.
    The Nasdaq Composite closed 3.9% lower.

For the week, the Dow fell by 4.2%. The S&P 500 and Nasdaq Composite were down 4% and 4.4%, respectively.

Just the beginning

I have been expecting this

The markets will lose 90% from peak

That's what Bubbles do

freediver wrote on Aug 27^th, 2022 at 8:46am:

Boris are you going to start one of these threads every few days in the hope that one day you will be right?

he is right !

Sir lastnail wrote on Aug 27^th, 2022 at 9:21am:

freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right !

So is a stopped clock. Twice a day. That's more often than Boris.

Boris wrote on Aug 27^th, 2022 at 9:16am:

Just the beginning I have been expecting this The markets will lose 90% from peak That's what Bubbles do

Many people have their Superannuation gambled on the stock market.
They should expect large losses.
Some would have been better off in a casino.

freediver wrote on Aug 27^th, 2022 at 9:26am:

Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris.

You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL

Sir lastnail wrote on Aug 27^th, 2022 at 9:29am:

freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL

How often do you think a stopped clock has the right time?

Sir lastnail wrote on Aug 27^th, 2022 at 9:29am:

freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL

Hi sir Nail,

sell,  no  buy,  no SELL.    :o

freediver wrote on Aug 27^th, 2022 at 9:33am:

Sir lastnail wrote on Aug 27th, 2022 at 9:29am: freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL How often do you think a stopped clock has the right time?

You don't have to convince me mate. I and many others went through the dot com crash back in 2000's. At first everyone is in denial but the smart players have already got out months or years ago whilst you hang onto hope and think that you can out think the markets. When the posty comes into your shop and starts giving you stock tips then you better to run for your life and get out ;) Been there and done that :(

Keep watching

Sir lastnail wrote on Aug 27^th, 2022 at 9:44am:

freediver wrote on Aug 27th, 2022 at 9:33am: Sir lastnail wrote on Aug 27th, 2022 at 9:29am: freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL How often do you think a stopped clock has the right time? You don't have to convince me mate. I and many others went through the dot com crash back in 2000's. At first everyone is in denial but the smart players have already got out months or years ago whilst you hang onto hope and think that you can out think the markets. When the posty comes into your shop and starts giving you stock tips then you better to run for your life and get out ;) Been there and done that :(

So we should take you seriously because you got it wrong 20 years ago?

Wall Street Futures are down heavily

The NASDAQ is down almost 5%

https://edition.cnn.com/business/markets/premarkets

Sir lastnail wrote on Aug 27^th, 2022 at 9:44am:

freediver wrote on Aug 27th, 2022 at 9:33am: Sir lastnail wrote on Aug 27th, 2022 at 9:29am: freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL How often do you think a stopped clock has the right time? You don't have to convince me mate. I and many others went through the dot com crash back in 2000's. At first everyone is in denial but the smart players have already got out months or years ago whilst you hang onto hope and think that you can out think the markets. When the posty comes into your shop and starts giving you stock tips then you better to run for your life and get out ;) Been there and done that :(

Sorry to hear that sir nail.
We all could tell either boom or bust stories with either stock market or real estate.
20 years ago gold was about $350 an ounce on the market… now it’s over $1700 and I had seen info from a keen investor say to go with gold. Also with blue chip.
But I never did.
I wasn’t certain about all those figures of $$$ on just the paper it’s written on.
I decided real estate… now some was very good and some very disappointing. But overall we were ahead so no big losses.
There are some regrets and there are some successes.

You shouldn’t let the scare of a loss stop you from going in for another try…
Like I said… I’ve got some stories I could tell since the 90s recession-we-had-to-have era.

freediver wrote on Aug 27^th, 2022 at 10:17am:

Sir lastnail wrote on Aug 27th, 2022 at 9:44am: freediver wrote on Aug 27th, 2022 at 9:33am: Sir lastnail wrote on Aug 27th, 2022 at 9:29am: freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL How often do you think a stopped clock has the right time? You don't have to convince me mate. I and many others went through the dot com crash back in 2000's. At first everyone is in denial but the smart players have already got out months or years ago whilst you hang onto hope and think that you can out think the markets. When the posty comes into your shop and starts giving you stock tips then you better to run for your life and get out ;) Been there and done that :( So we should take you seriously because you got it wrong 20 years ago?

No not at all. History repeats itself time and time again in the markets. It's all about mass crowd psychology. People are like sheep and usually follow the herd. They like to latch onto gurus or some kind of authority but you know what they say about free financial advice is worth exactly what you pay for it. And even the payed stuff is never guaranteed either. At the end of the day it's your call but the warning signs have been there for a long time. ;)

bubbles burst

Sir lastnail wrote on Aug 27^th, 2022 at 12:43pm:

freediver wrote on Aug 27th, 2022 at 10:17am: Sir lastnail wrote on Aug 27th, 2022 at 9:44am: freediver wrote on Aug 27th, 2022 at 9:33am: Sir lastnail wrote on Aug 27th, 2022 at 9:29am: freediver wrote on Aug 27th, 2022 at 9:26am: Sir lastnail wrote on Aug 27th, 2022 at 9:21am: freediver wrote on Aug 27th, 2022 at 8:46am: Boris are you going to start one of these threads every few days in the hope that one day you will be right? he is right ! So is a stopped clock. Twice a day. That's more often than Boris. You going to bet your life savings on a stopped clock only being right twice a day. Good luck with that :D LOL How often do you think a stopped clock has the right time? You don't have to convince me mate. I and many others went through the dot com crash back in 2000's. At first everyone is in denial but the smart players have already got out months or years ago whilst you hang onto hope and think that you can out think the markets. When the posty comes into your shop and starts giving you stock tips then you better to run for your life and get out ;) Been there and done that :( So we should take you seriously because you got it wrong 20 years ago? No not at all. History repeats itself time and time again in the markets. It's all about mass crowd psychology. People are like sheep and usually follow the herd. They like to latch onto gurus or some kind of authority but you know what they say about free financial advice is worth exactly what you pay for it. And even the payed stuff is never guaranteed either. At the end of the day it's your call but the warning signs have been there for a long time. ;)

Are you predicting a stock market crash some time in the next decade, or next week?

I see the ASX has gone up 4% over the course of the month. It is down for 2022.

freediver wrote on Aug 27^th, 2022 at 12:51pm:

Are you predicting a stock market crash some time in the next decade, or next week? Posted by: Boris  Mark & Quote

We've been in a gradual crash since 2009, the fundamentals have never been strong since then, but the wealthy have got wealthier, so it's the 90% that are suffering, and will suffer for a long time yet

There's one thing I've never seen before, and that's empty shelves in supermarkets, it's a wake-up call, Covid has been mishandled and we are paying for it now

Toll fees are going up, so are Council rates, fuel costs are rising, flood insurance premiums have risen about 300%, power costs have risen 50%, food prices have risen. Even business in $2 reject shops has slackened off

Wages have gone up ... errr, how much? ... you won't see them go up much in the foreseeable future either ... but debt is high and must be paid off

Expect more gradual crashing

Quote:

We've been in a gradual crash since 2009, the fundamentals have never been strong since then

What fundamentals?

The ASX 200 is now more than double what it was in 2009.

I hope it all comes crashing down. :)

Jasin wrote on Aug 27^th, 2022 at 2:26pm:

I hope it all comes crashing down. :)

So you don't have any super at all in shares? That's sad looking at interest rates,

I had a great time during Lockdown too.  ;)

freediver wrote on Aug 27^th, 2022 at 2:01pm:

Quote: We've been in a gradual crash since 2009, the fundamentals have never been strong since then What fundamentals? The ASX 200 is now more than double what it was in 2009.

Our Dollar is 67c, housing is in short supply, income is low, national debt is high, productivity is not as high as it should be, and services are becoming very expensive

The ASX and the All Ordinaries will drop in the next week, following the trend of the Dow, bringing them back down to about 2019 level

In 2019 it was nearly as high as it is right now.

What does the exchange rate tell you?

freediver wrote on Aug 27^th, 2022 at 2:50pm:

In 2019 it was nearly as high as it is right now. What does the exchange rate tell you?

The exchange rate tells me we must keep buying cheap inferior imported goods that break down and fall apart, so that we can keep consumerism going, the economy is all about consuming cheap Chinese products

Our exports are cheaper for other nations, but what exports do we have? - not nearly enough

How does it tell you that? Is it like reading tea leaves?

Perceptions_Now PM'd me to ask why this
Topic is not in Economics Board (moved)?

Its not economic - its happening now and it is a global disaster

This is the biggest crash in world history and will start the worst world war in history

What today

Have you got your tinfoil hat ready?

We have just had the biggest bubble in history - the Everything Bubble
We have the greatest Debt Bubble in history
Now - right now starting January 4th we have the greatest Stock Market and Housing Market Crash in all history
Now too we have the worst Depression in history
Soon we will have the worst Global War in all History

Perhaps a 20L bucket of coolaid.

Just watch and enjoy

Boris wrote on Aug 27^th, 2022 at 9:55am:

Keep watching

https://memegenerator.net/img/instances/67619088.jpg

Goldman Sachs is About to Sell $147 BILLION in Global Equities

Boris wrote on Aug 29^th, 2022 at 8:43am:

Goldman Sachs is About to Sell $147 BILLION in Global Equities

According to a random youtuber.

Boris wrote on Aug 29^th, 2022 at 8:17am:

Just watch and enjoy

The ASX 200 opened within 2% of it's Friday close, and is still above it's midweek lows from last week.

Would you say it is time to crack each other's heads open and feast on the goo inside?

Bias_2012 wrote on Aug 27^th, 2022 at 2:47pm:

freediver wrote on Aug 27th, 2022 at 2:01pm: Quote: We've been in a gradual crash since 2009, the fundamentals have never been strong since then What fundamentals? The ASX 200 is now more than double what it was in 2009. Our Dollar is 67c, housing is in short supply, income is low, national debt is high, productivity is not as high as it should be, and services are becoming very expensive The ASX and the All Ordinaries will drop in the next week, following the trend of the Dow, bringing them back down to about 2019 level

The All Ordinaries is down 150 points already

The market went up again yesterday. When is this crash going to happen Boris? Is it like a biblical prediction? The end is always nigh, but never near?

Its happening as we speak

The S&P500

52-wk high      4,818.62

now at close      3,986.16


Yesterday was just a Dead Cat

It is well above the 52 week low.

So, what is your point? Is it a stock market crash if it reaches a 30 day low?

Do you ever stop the chicken little routine?

It's quite a dilemma.

Need to be cashed up to buy shares during the crash but to store up cash now you would need to sell off shares now and / or pull money out of Super, meaning a loss of gains until the crash.  :(

If only we knew exactly when the crash will hit.  :-/

Captain Nemo wrote on Sep 7^th, 2022 at 10:06am:

It's quite a dilemma. Need to be cashed up to buy shares during the crash but to store up cash now you would need to sell off shares now and / or pull money out of Super, meaning a loss of gains until the crash.  :( If only we knew exactly when the crash will hit.  :-/

My prediction that the All Ordinaries would drop to 2019 levels has come true (There you go freediver) ... 6,959.30 today, closely compared to 6,948.00 25 Nov 2019

Bias_2012 wrote on Sep 7^th, 2022 at 5:22pm:

Captain Nemo wrote on Sep 7th, 2022 at 10:06am: It's quite a dilemma. Need to be cashed up to buy shares during the crash but to store up cash now you would need to sell off shares now and / or pull money out of Super, meaning a loss of gains until the crash.  :( If only we knew exactly when the crash will hit.  :-/ My prediction that the All Ordinaries would drop to 2019 levels has come true (There you go freediver) ... 6,959.30 today, closely compared to 6,948.00 25 Nov 2019

According to the google results, in 2019 the ASX200 ranged from 5619 to 6846.

So yeah, that's like predicting it will rain in the next month. You might be right, but not as often as a stopped clock.

freediver wrote on Sep 7^th, 2022 at 5:42pm:

Bias_2012 wrote on Sep 7th, 2022 at 5:22pm: Captain Nemo wrote on Sep 7th, 2022 at 10:06am: It's quite a dilemma. Need to be cashed up to buy shares during the crash but to store up cash now you would need to sell off shares now and / or pull money out of Super, meaning a loss of gains until the crash.  :( If only we knew exactly when the crash will hit.  :-/ My prediction that the All Ordinaries would drop to 2019 levels has come true (There you go freediver) ... 6,959.30 today, closely compared to 6,948.00 25 Nov 2019 According to the google results, in 2019 the ASX200 ranged from 5619 to 6846. So yeah, that's like predicting it will rain in the next month. You might be right, but not as often as a stopped clock.

There's not a lot of confidence around FD, you'll be lucky if the All Ords doesn't drop to 2018 levels in the coming weeks. Only over-priced stocks and false optimistic government promises will keep it out of the danger zone, for a while

Are you making a prediction?

freediver wrote on Sep 7^th, 2022 at 8:48pm:

Are you making a prediction?

It's your turn to make a prediction, let's see what you can come up with

I'm not the one pulling the Nostradamus routine. But here goes:

The market will either go down or up.

The Australian market is a little bit more shielded than the US Market or the UK Market, but it's useful to look at the Dow and the NASDAQ because of the sheer size of the market. Apart from that, the AUD will fall because of the global uncertainty. It always does. So some of our exports will become more competitive.  I agree that Australian Shares will do better in the medium term.  It's possibly as good a place as any to weather the storm, if such a  place even exists. I wouldn't have said that even two years ago.

Inflation is predicted to hit 7.75% by the end of the year.  Contrast that with the UK or the US, where it's already 9.1% and predicted to hit 19%. Not good for house prices.

It will be third quarter 2023 before the volatility settles down.  The Russian/ Ukrainian issue is likely to run out of steam, and the pandemic is already starting to ease, although long Covid will have a continued effect on  the workforce. Already we have 4 million people in Australia absent at any time due to the symptoms of long Covid. It has been affecting supply chains for most of the year.

I predict another disaster (probably floods) this coming summer. I think it's a highly credible risk anyway.

It started 4th January

Fell out of bed last night on Wall Street

It's gunna be rough now.

Brace for impact.

The last 1 Posts were moved here from Finance and Economics by freediver.

Boris wrote on Sep 14^th, 2022 at 7:30am:

It started 4th January Fell out of bed last night on Wall Street It's gunna be rough now. Brace for impact.

So what's with the regular chicken little routine Boris?

freediver wrote on Sep 8^th, 2022 at 7:55am:

I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up.

Ha! The question remains :  will it go MORE up or MORE down? And which parts of the share market is more vulnerable to such fluctuations. International? National? Which types of commodities are affected? Note: I personally don't like stocks and shares. It's all too illusory IMO. The real estate market isn't.

Interestingly enough... the real estate investment market itself kinda sorta functions like the stock market in that IF the market goes down one immediately examines exactly where. Regional? Urban? Residential? Commercial? Land? If urban then which urban area? Sydney? Melbourne? Perth? Even at that level of scrutiny one needs to take a closer look at specific LGA regions.

IMO....you'll do better investing in real estate. Just be careful WHERE/HOW you invest ie carefully consider what type of property you buy, where it's located and what type of mortgage you take out.

freediver wrote on Sep 8^th, 2022 at 7:55am:

I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up.

The stock market is a machine to extract money from people who have no idea, by those who do.

But you want proof?  OK.

If you do have high quality information about what is going to happen, act on it, you can be put in prison.  Knowing what will happen is against the rules.  Imagine knowingly taking part in that!

That means that you are required to throw large sums of money at something that you have no idea about.  Your money can be taken away from you by as little as a bullshit article in today's paper.

Not for me. 

random wrote on Sep 14^th, 2022 at 9:38am:

freediver wrote on Sep 8th, 2022 at 7:55am: I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up. The stock market is a machine to extract money from people who have no idea, by those who do. But you want proof?  OK. If you do have high quality information about what is going to happen, act on it, you can be put in prison.  Knowing what will happen is against the rules.  Imagine knowingly taking part in that! That means that you are required to throw large sums of money at something that you have no idea about.  Your money can be taken away from you by as little as a bullshit article in today's paper. Not for me.

👆 pretty much nails it (for me anyway).

freediver wrote on Sep 8^th, 2022 at 7:55am:

I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up.

Bit of a crash this morning FD ... you were half right for today at least

https://youtu.be/-DT7bX-B1Mg

Watch it all 'crash' as the money gets drained away to support the American War Chest Fund.
It's gotta go somewhere. ;)

Lisa Jones wrote on Sep 14^th, 2022 at 9:13am:

freediver wrote on Sep 8th, 2022 at 7:55am: I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up. Ha! The question remains :  will it go MORE up or MORE down? And which parts of the share market is more vulnerable to such fluctuations. International? National? Which types of commodities are affected? Note: I personally don't like stocks and shares. It's all too illusory IMO. The real estate market isn't. Interestingly enough... the real estate investment market itself kinda sorta functions like the stock market in that IF the market goes down one immediately examines exactly where. Regional? Urban? Residential? Commercial? Land? If urban then which urban area? Sydney? Melbourne? Perth? Even at that level of scrutiny one needs to take a closer look at specific LGA regions. IMO....you'll do better investing in real estate. Just be careful WHERE/HOW you invest ie carefully consider what type of property you buy, where it's located and what type of mortgage you take out.

I think most people with a mind to invest are already overinvested in real estate through their own home. It has several key advantages - low interest rates on the loan compared to a business loan, no capital gains tax, and the 'income' (money saved on rent) is also not taxed. Plus I think they will let you leverage more heavily there than anywhere else.


random wrote on Sep 14^th, 2022 at 9:38am:

freediver wrote on Sep 8th, 2022 at 7:55am: I'm not the one pulling the Nostradamus routine. But here goes: The market will either go down or up. The stock market is a machine to extract money from people who have no idea, by those who do. But you want proof?  OK. If you do have high quality information about what is going to happen, act on it, you can be put in prison.  Knowing what will happen is against the rules.  Imagine knowingly taking part in that! That means that you are required to throw large sums of money at something that you have no idea about.  Your money can be taken away from you by as little as a bullshit article in today's paper. Not for me.

There is a difference between doing your research and insider trading. But I think you are right about most small time investors losing money on shares, presumably to "those that do". But there are plenty of options suitable for those people - eg managed funds. But even there doing your research makes a huge difference.

As I said, "I am Cashed Up & that will remain the case!"

There are to many "unusual/unheard of things" going on!

perceptions_now wrote on Sep 16^th, 2022 at 11:25am:

As I said, "I am Cashed Up & that will remain the case!" There are to many "unusual/unheard of things" going on!

Can I borrow $10 PN?  :)

Should be a shocker on our market today (Friday).

A global economic disaster is hitting the world right now.

All economies in all countries are collapsing like a house of cards

Welcome to the Greatest Depression

There is no point in pointing fingers - all Governments of whatever stripe or from whatever quarter have let this happen by pandering to squeaky hinges.

Good luck everyone

The Golden Age has died along with the Late Elizabeth the Great

Boris wrote on Oct 21^st, 2022 at 8:00am:

A global economic disaster is hitting the world right now. All economies in all countries are collapsing like a house of cards Welcome to the Greatest Depression There is no point in pointing fingers - all Governments of whatever stripe or from whatever quarter have let this happen by pandering to squeaky hinges. Good luck everyone The Golden Age has died along with the Late Elizabeth the Great

https://youtu.be/xVlRompc1yE

Boris wrote on Oct 21^st, 2022 at 8:00am:

A global economic disaster is hitting the world right now. All economies in all countries are collapsing like a house of cards Welcome to the Greatest Depression There is no point in pointing fingers - all Governments of whatever stripe or from whatever quarter have let this happen by pandering to squeaky hinges. Good luck everyone The Golden Age has died along with the Late Elizabeth the Great

It's all about modern monetary theory - MMT - used all around the world.
Govts. print Govt. bonds and the Reserve bank buys them by printing money.
It's funny money that is created out of nothing.
It causes inflation and even hyperinflation -
it robs people of their life savings and puts the Govt. into debt they can never pay off -
they just print more Govt. bonds to cover the debt -
and it spirals in to total collapse of the financial system.

Unfortunately the last 10 years of Libbo Govt here created $1 trillion of such debt
as they went on a spending spree like drunken sailors
with money they didn't have.
I am very worried about it.

It is all about Kondratieff

Is just around the corner - only the impending WW III will wake the West from it's Snow White sleep with a kiss of gunfire...

You see the microcosm being played out in Ukraine.... Russia has burned through its best and trained personnel and is now turning to conscripts and reservists, who are being sent to the fray with a couple of weeks training or re-training (if they are retreads).

The same will happen with both sides of the impending war... the best and most trained will suffer until others come in to hold the line after being trained...

The West, of course, has learned from watching the Russian bear blunder.... and the moment the first whiff of gunsmoke is in the air, they will begin training the back-ups.  They'll need to move quickly in this day and age ......

BREAKING: Biden's economic sanctions on the U.S. to be partially lifted prior to November election

Some good links here about MMT - modern monetary theory -

https://theconversation.com/modern-monetary-theory-the-rise-of-economists-who-say-huge-government-debt-is-not-a-problem-141495


http://bilbo.economicoutlook.net/blog/?p=50225


https://www.investopedia.com/modern-monetary-theory-mmt-4588060

The last 7 Posts were moved here from Finance and Economics by freediver.

Boris wrote on Oct 21^st, 2022 at 8:00am:

A global economic disaster is hitting the world right now. All economies in all countries are collapsing like a house of cards Welcome to the Greatest Depression There is no point in pointing fingers - all Governments of whatever stripe or from whatever quarter have let this happen by pandering to squeaky hinges. Good luck everyone The Golden Age has died along with the Late Elizabeth the Great

Boris why do you keep doing this chicken little dance for us, then running away?

Bobby. wrote on Oct 23^rd, 2022 at 12:45pm:

Some good links here about MMT - modern monetary theory - https://theconversation.com/modern-monetary-theory-the-rise-of-economists-who-say-huge-government-debt-is-not-a-problem-141495 http://bilbo.economicoutlook.net/blog/?p=50225 https://www.investopedia.com/modern-monetary-theory-mmt-4588060

People ask about what government services we'd cut or stop altogether without MMT?
Education, health, law and order, funds to states, environment, energy, foreign affairs, trade, welfare, pensions, quarantine, tax administration?

The fact is that the interest paid on the loans could have gone towards those important services.
That causes more money printing and a death spiral.

Let's use some round figures to make it easy to understand.
Let's say someone has $1 million is savings which is all in the bank via their own
deposits or superannuation.
Let's say the inflation rate is now 8%.
That person effectively loses $80,000 in one year by inflation.
It's the same as if they were sent an invoice from the tax Dept. for $80,000.
Is that fair on that person?

I wonder that no matter how highly the Govt. taxes us it is still never enough
to pay for all the things they "need" to pay out for?
MMT is used to print money to cover day to day expenses -
not as part of any emergency.
Are we living way beyond our means?

Quote:

MMT is used to print money to cover day to day expenses

Not in Australia, or any other place not run by fools.