2020 Potential Economic Collapse

[grenfell]

No mortgage , i saved up and brought the house cash. But either way all those things you mention could be offered without some city slicker making an obscene fortune on the side. I have little choice but to operate inside the system we have but i don't have to agree with it or have any empathy with the parasites running it. In the case of futures markets the speculators **** up , they should take the hit not people with pensions and savings. We all know our economic system is deeply flawed and collapse is virtually guaranteed.

[grenfell]

U
You know grenfell, the Adams story is a cracking analogy of our current society. By that I mean here and right-this-minute-now. Our World went to Sh£t a month or so back, the shelves were stripped and the NHS was gearing up for the battle ahead. Everyone except essential workers were locked down. Most of the essential workers; supermarket/ food retail, NHS ancillary staff, care workers, binmen ... you know, are low paid. They have kept our system running, whilst the city bankers, insurance executives ( and they are trying to wriggle out of claims for businesses with cover), financial advisors and generally useless folks will go back to earning? eye- watering sums.

I am not saying that a bin man should earn as much as a doctor, or a supermarket worker as much as a surgeon, but we surely have to recognise the value we have come to realise the lower paid workers have contributed to society? Without them we would have been toast.

Putting it into context, right now my wife and I need a dentist desperately, and we will need to buy food within a day or two. However, we don’t need another pension product!

What you mean the countries billionaires aren't the ones keeping people alive and the country running ? Well blow me down....

[Arwen Thebard]

"It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society."

Well put and true.

[jansman]

"It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society."

Well put and true.

That’s it in a nutshell.

[Stonecarver]

To bosworth
Douglas Adams shot off the useless 1/3 of the population of the planet Golgafrincham . If you know the story Golgafrincham was eventually destroyed and that useless 1/3 ended up crashing on earth and forming the human race but that's another story. They left behind all the dooers and thinkers , those who were practical and inventive , those who actually had value to the society.
Ok so the comment was tongue in cheek but frankly most of that class of people are largely parasitic to society in any real practical terms. . They don't grow anything , make anything but the stock market holds sway over how much everything is worth. That's worth in terms of money rather than value to society. Take for example a field. It's value is in how much food it can produce but to a hedge fund manager it's worth is in how much it can sell for. One day it may be £100 but the next it may be £1000 but it's value hasn't changed. It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society.

You know grenfell, the Adams story is a cracking analogy of our current society. By that I mean here and right-this-minute-now. Our World went to Sh£t a month or so back, the shelves were stripped and the NHS was gearing up for the battle ahead. Everyone except essential workers were locked down. Most of the essential workers; supermarket/ food retail, NHS ancillary staff, care workers, binmen ... you know, are low paid. They have kept our system running, whilst the city bankers, insurance executives ( and they are trying to wriggle out of claims for businesses with cover), financial advisors and generally useless folks will go back to earning? eye- watering sums.

I am not saying that a bin man should earn as much as a doctor, or a supermarket worker as much as a surgeon, but we surely have to recognise the value we have come to realise the lower paid workers have contributed to society? Without them we would have been toast.

Putting it into context, right now my wife and I need a dentist desperately, and we will need to buy food within a day or two. However, we don’t need another pension product!

Its unfortunate that while all these essential LOW PAID workers will have been doing massive overtime their tax credits..which they most certainly be on..will be slashed. 'Because they have been earning too much'. Nice reward.

[jansman]

To bosworth
Douglas Adams shot off the useless 1/3 of the population of the planet Golgafrincham . If you know the story Golgafrincham was eventually destroyed and that useless 1/3 ended up crashing on earth and forming the human race but that's another story. They left behind all the dooers and thinkers , those who were practical and inventive , those who actually had value to the society.
Ok so the comment was tongue in cheek but frankly most of that class of people are largely parasitic to society in any real practical terms. . They don't grow anything , make anything but the stock market holds sway over how much everything is worth. That's worth in terms of money rather than value to society. Take for example a field. It's value is in how much food it can produce but to a hedge fund manager it's worth is in how much it can sell for. One day it may be £100 but the next it may be £1000 but it's value hasn't changed. It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society.

You know grenfell, the Adams story is a cracking analogy of our current society. By that I mean here and right-this-minute-now. Our World went to Sh£t a month or so back, the shelves were stripped and the NHS was gearing up for the battle ahead. Everyone except essential workers were locked down. Most of the essential workers; supermarket/ food retail, NHS ancillary staff, care workers, binmen ... you know, are low paid. They have kept our system running, whilst the city bankers, insurance executives ( and they are trying to wriggle out of claims for businesses with cover), financial advisors and generally useless folks will go back to earning? eye- watering sums.

I am not saying that a bin man should earn as much as a doctor, or a supermarket worker as much as a surgeon, but we surely have to recognise the value we have come to realise the lower paid workers have contributed to society? Without them we would have been toast.

Putting it into context, right now my wife and I need a dentist desperately, and we will need to buy food within a day or two. However, we don’t need another pension product!

Its unfortunate that while all these essential LOW PAID workers will have been doing massive overtime their tax credits..which they most certainly be on..will be slashed. 'Because they have been earning too much'. Nice reward.

This is where Society needs to have a word with itself.

[Arwen Thebard]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

A big test coming this week and next as hundreds of tankers quite literally "park-up" off the coasts of Japan, Singapore and the USA as physical deliveries of oil are rejected and contracts default. Watch out for oil companies going bust, owing the banks $$$Billions$$$. You can guess what comes after that.

[cbp125]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

A big test coming this week and next as hundreds of tankers quite literally "park-up" off the coasts of Japan, Singapore and the USA as physical deliveries of oil are rejected and contracts default. Watch out for oil companies going bust, owing the banks $$$Billions$$$. You can guess what comes after that.

Just shows what a fake world we live in, drummed up demand and inflated prices and people getting rich for nothing

[Bosworth]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

A big test coming this week and next as hundreds of tankers quite literally "park-up" off the coasts of Japan, Singapore and the USA as physical deliveries of oil are rejected and contracts default. Watch out for oil companies going bust, owing the banks $$$Billions$$$. You can guess what comes after that.

Just shows what a fake world we live in, drummed up demand and inflated prices and people getting rich for nothing

May I ask you, who is getting rich and how?

[grenfell]

Certain companies will be doing well out of the pandemic others will be struggling. Will hedge funds and brokers hold onto their stocks in struggling companies or invest in those doing better. Not a difficult question as their only concern is money. The "money" the governments are spending isn't something they have found down the back of the sofa , it all comes from the banks , created by the banks ,debt , borrowed in effect from our grandchildren.
Quick google https://www.theguardian.com/world/2020/ ... llionaires
Ok so that example is the US but the pattern is pretty much the same across the western world.