2020 Potential Economic Collapse

[diamond lil]

No change there though, this is how the world works, always has.

[ForgeCorvus]

M&M Enterprises, Catch-22

The exact size of Minderbinder's syndicate is never specified. At the beginning of the novel, it is merely a system that gets fresh eggs to his mess hall by buying them in Sicily for one cent, selling them to Malta for four and a half cents, buying them back for seven cents, and finally selling them to the mess halls for five cents. However, the syndicate is soon revealed to have become a large company, and then an international syndicate, making Minderbinder the Mayor of Palermo, Assistant Governor-General of Malta, Shah of Oran, Caliph of Baghdad, mayor of Cairo, and the god of corn, rain, and rice in various pagan African countries. Whenever Minderbinder appears in one of his cities, an impromptu holiday with parades forming around him is declared.

[Arwen Thebard]

M&M Enterprises, Catch-22

The exact size of Minderbinder's syndicate is never specified. At the beginning of the novel, it is merely a system that gets fresh eggs to his mess hall by buying them in Sicily for one cent, selling them to Malta for four and a half cents, buying them back for seven cents, and finally selling them to the mess halls for five cents. However, the syndicate is soon revealed to have become a large company, and then an international syndicate, making Minderbinder the Mayor of Palermo, Assistant Governor-General of Malta, Shah of Oran, Caliph of Baghdad, mayor of Cairo, and the god of corn, rain, and rice in various pagan African countries. Whenever Minderbinder appears in one of his cities, an impromptu holiday with parades forming around him is declared.

Thank goodness for the internet and Wiki as I had no idea what you guys were talking about.
https://en.wikipedia.org/wiki/Milo_Minderbinder

[Arzosah]

One of the best books ever

[Arwen Thebard]

UK unemployment to double and economy to shrink by 14%, warns Bank of England

This links to the Guardians' version of this story but its also covered in various other MSM.
https://www.theguardian.com/business/20 ... oronavirus

One quote I picked out is;
Bailey said that if a second wave of infections did occur, the Bank would have to respond. “It is our job to meet the needs of the people and we all have our sleeves rolled up to do it.”

To me this comment screams negative interest rates so watch out if you have cash in the banks.

[jansman]

UK unemployment to double and economy to shrink by 14%, warns Bank of England

This links to the Guardians' version of this story but its also covered in various other MSM.
https://www.theguardian.com/business/20 ... oronavirus

One quote I picked out is;
Bailey said that if a second wave of infections did occur, the Bank would have to respond. “It is our job to meet the needs of the people and we all have our sleeves rolled up to do it.”

To me this comment screams negative interest rates so watch out if you have cash in the banks.

My thought too.

[diamond lil]

What does negative int rates entail?

[preppergb]

What does negative int rates entail?

They CHARGE you to keep money in your account instead of them paying you interest.

[jansman]

What does negative int rates entail?

They CHARGE you to keep money in your account instead of them paying you interest.

Yes.

[jansman]

But just before that, you get a bank run. Then a crash.