The great 2016 financial crisis

[Raoul Duke]

It's happening :drool:

http://www.theguardian.com/business/2016/jan/12/beware-great-2016-financial-crisis-warns-city-pessimist

http://www.theguardian.com/business/2016/jan/12/sell-everything-ahead-of-stock-market-crash-say-rbs-economists

https://s-media-cache-ak0.pinimg.com/564x/51/08/8b/51088be48b9362211eb031932ff12bc2.jpg

[Pepe]

Just in time for Bernie to waltz into the White House. :drool:

[mugbull]

Why is a bank telling the public that the economy is about to crumble? :D

[Jimmy Floyd]

It's all China's fault. Stupid fucks.

[Giggles]

It'll be bad again and fine again and bad again etc etc :yawn:

[Boydy]

It hasn't really been fine since 2008 though.

[Kikó]

Nothing has been really fixed since last time. Slightly better capital measures in place in banks but it's still based on damp foundations.

[Spammer]

I work for a debt charity, which means that these things mean the opposite for my job prospects.

[niko_cee]

FTSE up 1.5% . . .

[Jimmy Floyd]

Sell your sons and daughters.

[simon]

AE has moved up in the world.

[Magic]

Ah, the yearly 'FINANCIAL MELTDOWN' scaremongering.

[Pepe]

So how do I abuse the hell out of this? What's the current get rich quick scheme?

[Lewis]

Working a six day week.

[Pepe]

Rather stay poor.

[Magic]

Taz was advising in investing in oil because he foresaw a massive leap in price, when now it looks to be dropping to about 10$ a barrel. :harold:

Though not even a month ago in the Daily Shite they were reporting the CRISIS between Saudi and Iran would see it top 200$ a barrel.

:harold: x 100

[Henry]

I informed you thusly.

Blaming overspending and then trying to chase their tail with counterproductive austerity policies was the worst way for Tory scum to deal with the aftermath of the last one.

[Foe]

Taz was advising in investing in oil because he foresaw a massive leap in price, when now it looks to be dropping to about 10$ a barrel. :harold:

Though not even a month ago in the Daily Shite they were reporting the CRISIS between Saudi and Iran would see it top 200$ a barrel.

:harold: x 100

Supply > demand and there's millions (maybe even billions) of barrels of stock stored around the world. The oil price isn't going up any time soon.

[Lewis]

I informed you thusly.

Blaming overspending and then trying to chase their tail with counterproductive austerity policies was the worst way for Tory scum to deal with the aftermath of the last one.

The point of austerity (proper austerity anyway) is to better prepare for the next one, so well done Tories.

[Henry]

The point of austerity (proper austerity anyway) is to better prepare for the next one, so well done Tories.

Bullshit. What they've done hasn't prepared for what's coming at all.

[Lewis]

State spending will be a lot lower. That will help. But no. They haven't done that much. They should have let it all collapse.

[Henry]

Bollocks again. "Low spending" isn't a good thing. Low or no deficit might be, but they've botched that because their crazed theories don't work in practice.

[Jimmy Floyd]

2008: global crisis
2016: Tories fucked it

Or vice versa. But never both the same. Funny that.

This one's about the yanks smashing OPEC and China having a shit ton of empty factories and no dirty billionaires left to do anything with them, I'm not sure things like British domestic policy are really relevant.

[Henry]

British domestic policies determines how strong as position the economy is to cope with a crisis. Obviously.

[Jimmy Floyd]

They haven't changed that much.

[Lewis]

Bollocks again. "Low spending" isn't a good thing. Low or no deficit might be, but they've botched that because their crazed theories don't work in practice.

They reckon they're on for a low/no deficit by the end of the parliament (thanks low spending), and their 'crazed theories' were to [dramatically] shrink the size of the state under the guise of crisis management. Success.

We're bollocksed if another CREDIT CRUNCH comes along, but blaming that on the Conservatives is a bit lol. It's not like Labour were offering to let banks and investors fail, or to fundamentally re-structure the global monetary system or whatever your solutions are at the moment. It's the same crap as far as half-arsed crap goes.

[Henry]

What "they reckon" is irrelevant, since as has been pointed out at great length elsewhere, they keep saying that they'll reduce the deficit by far more than they actually do. It's fantasy.

The crazed theories were that you could have expansionary austerity because CONFIDENCE. Shrinking the state is an underhand ideological goal which has nothing to do with being prepared for a stock market crash.

And for the third time, blaming the Tories for leaving the economy in a place where is doesn't cope very well is different from blaming them for the crunch itself.

[Lewis]

What "they reckon" is irrelevant, since as has been pointed out at great length elsewhere, they keep saying that they'll reduce the deficit by far more than they actually do. It's fantasy.

Hence my use of 'they reckon', which I also used to reflect the fact it isn't 2019/20 yet so I can't say with any certainty either way.


The crazed theories were that you could have expansionary austerity because CONFIDENCE. Shrinking the state is an underhand ideological goal which has nothing to do with being prepared for a stock market crash.

The 'crazed theories' were cover for their 'underhand ideological goal', so lololol their theories are shit is a bit irrelevant when they've achieved their goal. Whether or not they did it to prepare for another crash (I would guess not), it's not mental to suggest we will be better prepared as a result (albeit still woefully exposed).


And for the third time, blaming the Tories for leaving the economy in a place where is doesn't cope very well is different from blaming them for the crunch itself.

I haven't said you were blaming them for any recession. I said blaming 'Tory scum' is a waste of time when nobody (as in nobody likely to win an election) had/has any solutions to our fundamental economic problems.

[Henry]

Hence my use of 'they reckon', which I also used to reflect the fact it isn't 2019/20 yet so I can't say with any certainty either way.

If it's an abstract desire with no foundation in reality, which it is, then you shouldn't be using it as a riposte to my highlighting the continuing high deficit.


The 'crazed theories' were cover for their 'underhand ideological goal', so lololol their theories are shit is a bit irrelevant when they've achieved their goal. Whether or not they did it to prepare for another crash (I would guess not), it's not mental to suggest we will be better prepared as a result (albeit still woefully exposed).

It is entirely mental. Being well-prepared would be to have an economy performing well, with a shrinking deb-to-GDP ratio, with some automatic stabilisers and that isn't heavily exposed to the sectors that are likely to fuck up. On all counts they fail.


I haven't said you were blaming them for any recession. I said blaming 'Tory scum' is a waste of time when nobody (as in nobody likely to win an election) had/has any solutions to our fundamental economic problems.

Blaming the people who are to blame is never a waste of time.

[Boydy]

Another crash then PM Corbyn. :drool:

[Pepe]

When are your positive money mates taking over Boyd?

[Boydy]

Once Corbyn's in power after this crash, hopefully.

[Pepe]

:drool:

[Kikó]

Did anyone see the telegraph today talking about socialist Corbyn coveting a£425 bike?

[GS]

Labour would, of course, have made the situation even worse by spending billions we don't have and plugging gaps in the finances through further borrowing. So we should all be grateful that the Tories are there causing less damage than Labour and other assorted leftists would have.

[Kikó]

Just strikes me as complete bollocks. We rely on the banking industry and it's still inherently broken.

[Boydy]

Did anyone see the telegraph today talking about socialist Corbyn coveting a£425 bike?

:D

Yes.

[Lewis]

If it's an abstract desire with no foundation in reality, which it is, then you shouldn't be using it as a riposte to my highlighting the continuing high deficit.

I'm not one for economic planning (let alone five year plans), but if 'they reckon' they're going to be running a surplus then I can cite in relation to what 'they' are claiming to be doing. If they miss it, feel free to bump this in 2019/20 and highlight where I've said they definitely will.


It is entirely mental. Being well-prepared would be to have an economy performing well, with a shrinking deb-to-GDP ratio, with some automatic stabilisers and that isn't heavily exposed to the sectors that are likely to fuck up. On all counts they fail.

We're growing faster than most comparable countries, and 'they reckon' we're a couple of years away from debt going down. But yes, we're still in a right state. I haven't said otherwise, and I'm not entirely sure why after eight years of this you still seem to think I'm some Conservative Party mouthpiece and interpret my posts accordingly.


Blaming the people who are to blame is never a waste of time.

I'm sure you were (rightly) against the banks being propped-up at the time on the basis that it failed to address the problems in the 'sectors that are likely to fuck up' (your first post seemed to be referring to that), so shouldn't you be blaming Labour?

[Pepe]

Did anyone see the telegraph today talking about socialist Corbyn coveting a£425 bike?

A Raleigh Criterium, top choice.

[Boydy]

Did anyone see the telegraph today talking about socialist Corbyn coveting a£425 bike?

People Have Banded Together To Buy Jeremy Corbyn His Dream Bicycle (http://www.buzzfeed.com/matthewchampion/jeremy-covets-this#.uyAMzAGmW)

:)

[Raoul Duke]

For £4k he could buy some epic carbon fibre dream machine :drool:

[Byron]

Supply > demand and there's millions (maybe even billions) of barrels of stock stored around the world. The oil price isn't going up any time soon.

I reckon another couple of years before it goes up again. I just need to stay in a job until then.

[GS]

Much of this is arising from political tension and a desire to drive competing industries (e.g. shale gas) out of existence. Not that I care, because I'm now paying under £1 per litre.

[Henry]

China economic growth slowest in 25 years (http://www.bbc.com/news/business-35349576)

IMF downgrades global forecast (http://www.bbc.com/news/business-35344352)

How long before shit really starts hitting the fan?

[Jimmy Floyd]

It already is. Fan Zhiyi has been forced to take a job in a manure factory.

[Pepe]

I'll throw this one here:

http://www.theatlantic.com/business/archive/2016/01/widening-wealth-gap/424695/


Wealth just keeps growing for the 62 richest people in the world. Collectively, this ultra-wealthy group controls $1.76 trillion, which is about the cumulative worth of the poorer half of the world’s population, or around 3.5 billion people.

Where's my fair share?

[Lewis]

I'm probably one of the poorest people in the world by their measures (debt, no assets). Goodbye, privilege. Hello victim status.

[Lewis]

It sounds like the Germans are in a bit of a tight spot. Basically, right, Deutsche Bank (out of the Holocaust) is going down the bog, and it might take the Euro down, or it might take the banking system down (again) for reasons (http://www.telegraph.co.uk/business/2016/09/26/the-deutsche-bank-crisis-could-take-angela-merkel-down--and-the/). Don't you work for them, 'Daws'? How is it looking? Put another way:

http://i63.tinypic.com/2i7xwtf.jpg

:cool:

[Kikó]

The banking system is still as weak as ever and nothing really solved that issue since 2008. If db fail, the world economy suffers with the level of obligations and how integral it is to euro clearing and us dollar clearing. Not to mention the massive derivative positions.

If the confidence goes again and Merkel doesn't back them, article 50 or not, every country will be hit.

All personal opinion based on news articles. I have no knowledge of any inner workings.

[GS]

There could well be a run on the Italian banks (http://www.wsj.com/articles/italys-banks-look-to-an-unlikely-savior-james-dimon-1474987925) soon as well - Renzi was having it out with the rest of the EU about state aid, but even if they tell him to fuck off he (or his successor) would probably go balls deep on it anyway. You'd have to, because what's the alternative.

They have a referendum (http://www.politico.eu/article/matteo-renzi-not-so-secret-weapon-euro-bashing-constitution-referendum-italy/) soon which might bring down the Italian government and all, and fuck knows what you're getting into after that with the wider political and economic uncertainty.

Protect ourselves insofar as we possibly can and leave them to fix themselves.

[GS]

http://news.sky.com/story/deutsche-bank-why-we-should-all-be-deeply-concerned-10596962?dcmp=snt-sf-twitter

It would be a right laugh if the Germans, having spent years bullying smaller nations into following THE RULES, bin them off to bail out DB. The political shitstorm that would follow. :drool:

[Spikey M]

What's the usual cut off age for conscription? I really can't be fucked with fighting in a 3rd World War.

[Boydy]

I'm sure you could get out of it on medical grounds anyway.

[Kikó]

They wouldn't be able to find a helmet small enough for his head*.


*When his head was small, you fat cunt.

[Magic]

Remember when pikey started lifting and his traps were higher than his head?

[Spikey M]

I'm still holding onto some baby weight, you bastards.

[GS]

Come and live in Northern Ireland. They daren't introduce conscription here because the republicans would kick off.

[Spikey M]

I had to phone a court in Northern Ireland a while back. The accent ruined my week. POW camp here I come.

[Kikó]

Rumours online that's a $5.4 bn fine.

[elth]

Merkel will just bail out DB, after letting them have a good scare to tank the share price of course, and then stare down the rest of Europe. What are they gonna do? Leave the euro over it? Of course not. They'll just have a nice riot, full a few dozen newspapers with anti German rhetoric then quietly accept that there's fuck all they can do about it because Germany is the only economy holding the continent together.

[Spikey M]

http://www.dailymotion.com/video/xbsgb_ruff-ryders-wwiii-uncensored_music