TL;DR : A financial shitstorm is brewing for a lot of reasons :
Marx was literally right, financial crashes are built in capitalism and the next one is coming, harder than 2008. Except this time states do not have the tools to handle it like they did in 2008 (bailout of banks cost a shitton and austerity has run its course even in western europe till then) What does this mean? Absolute worldwide economic catastrophy. A few unknown variables remain, like China for instance but this looks apocalyptic. The question is not whether it will happen but when.
Indeed, and the bigger question is how will the Left prevent fascist responses. What have You been doing to reorganize and rebuild the Left in your country?
Not going to give too much detail here but I'm doing my part indeed.
i think the world has a few more crises before it hits that level, there'll be another dotcom bust in the next 1-2 years when people realise that companies like snapchat are way overvalued, but there's still plenty of room for expansion into emerging markets, plus it seems kinda likely that there's a push for more socdem policies which traditionally have worked better at preventing crashes but idk if that's still really possible these days
Another crisis is inevitable, but people have been fearmongering about one almost constantly since 2012. Michael Roberts and others thought it would kick off in late 2016-17 but they were wrong. I guess even if you're a Marxist you can't predict the future of a capitalist economy.
I truly hope it happens and that it burns absolutely everything to the ground. I'm so tired, I just want it all to be over.
Most likely time window would be early 2019, the most obvious signs would be super expensive stocks like tsla, aapl, amzn and such collapse. Tsla still has a lot of hype going on for it, but the debt crisis is going to strike hard.
Why would we want that?. We should divide hunting grounds beforehand, so they wouldnt get the good easy ones.
Oh no, the wordfilter is here too. Fuck you jews.
I moved an armchair to my room to read.
I WANT IT NOOOOWWWWW. HYPE ME UP FOR OP, HOW BAD WILL IT BE?!?!
Literal trust fund baby here, how should I alter my portfolio to brace for the coming crash? Currently have everything in index fund stocks, currently thinking of moving over to 1 year-ish CDs and possibly gold
Who knows. I already pulled my savings from the bank and bought physical gold. Don't wanna show up at the bank when it's obviously too late.
Well, check what happened during the 2008 crisis. The only reason the global economy didn't go belly up was because states bailed out the banks. This time, states won't be able to pay up. According to French economist Frédéric lordon we're looking at a truly apocalyptic scenario if the banks are not saved. Basically all payment infrastructure collapses, credit cards no longer work, bank checks are worthless, coins, banknotes and currency will probably work for a few days but after that, that's reverting to basically looting and riots.
The problem is not an economic one but a political one.
If governments wanted to end the ongoing stagnation and avoid a financial collapse, all they have to do is cancel the debt. It's not even difficult. Debt cancellation was something that happened repeatedly in history and was often part of the political program of new rulers. Cancel debts, kick out money-lenders, let the economy restart.
A modern government could simply issue a check to every adult citizen for a certain amount. Those with debts would have to use the money to pay it off, those without debts could use it however they liked. Governments have the power to do this but they never do because of the political power held by international finance.
That doesn't sound like a revolution at all. That sounds like pure chaos. Well anyway I come from Zig Forums so I would enjoy it.
Same and I was investing in low-fee, broad market index funds but I went almost completely into cash. Not really sure what to invest in. Seems like a lot of bad options tbh
I don't really trade in individual stocks but I've been looking into companies that market to retiring boomers. Like firms involved in elderly care and assisted living facilities. If the Burger economy is going to basically prop up a dying generation that is looting the country then I may as well try to get a piece.
I'm in the process of switching to a credit union which fare better during financial crises. And generally I try to minimize my spending as much as possible. I'm cheap. Drove the same car for more than 13 years (the one my parents bought me in high school) and I finally bought a new (i.e. used) car this week… for $8,000. Hatchback. Manual transmission. Paid in cash. I'll drive it for another 10 years.
Could easily afford something tricked-out and pricey but f that. Talked to the car guy and he would tell me about guys coming in to buy the most expensive pickup truck they had with a high-interest loan stretching more than 90 months and no money down.
There's a ton of private debt out there, but you can't just blame the everyday borrower, it's also corporate debt. Then when you compare that to GDP it shows we're in trouble.