2020 Potential Economic Collapse

[The Green Man]

And with the latest lockdown set to begin in England on 5th November, the economic collapse is now guaranteed.

Viable businesses destroyed, shops closed that will never reopen & incredible damage done to communities.

There is no way they will remove these restrictions on the 2nd December, they are just using that date as a target to fool people into thinking they will be “free” by Christmas.

This country is a joke, good luck to us all in 2021, we are certainly going to need it.

[ForgeCorvus]

What a horrible day for global economies.

The German market DAX falls 5% - French markets CAC down by a little less and the UK FTSE following close behind down by only 3.5%. In the U.S. the DOW opens nearly 3% down and getting worse, NASDAQ and S&P500 not much better. Bonds are volatile, gold and silver are getting hammered down, while oil and crypto currencies are falling as well. Did I miss anything? Oh yeah, commodity prices including agricultural and livestock futures are also falling if you can believe that.

Red-downward-pointing arrows across the board and in large(ish) amounts, yet it doesn't get a mention on daytime news programs, maybe they are saving it for a big announcement around the six o'clock schedule.

This sort of action looks more like panic than a sensible sell off, seems to me like investors are liquidating what assets they can while they are still worth something. But no doubt the FED and other central banks will try and print their way out of it yet again.

Could this be the week? Or maybe yet another false start?

I do tend towards your thought that we are already in an economic collapse...we just don't know it.

Any system built on continue growth will collapse.

Maybe Bhutan is right

[jansman]

And with the latest lockdown set to begin in England on 5th November, the economic collapse is now guaranteed.

Viable businesses destroyed, shops closed that will never reopen & incredible damage done to communities.

There is no way they will remove these restrictions on the 2nd December, they are just using that date as a target to fool people into thinking they will be “free” by Christmas.

This country is a joke, good luck to us all in 2021, we are certainly going to need it.

My thoughts too. As I said in an earlier post ( and it is my watchword) Adapt. We are Preppers, Survivors. We talk about Shit hitting the fan ALL the time. Well right now, this is it folks. We need to deal with it, act responsibly, maintain hygiene standards, and push on.

[diamond lil]

That's very true Jansman. All the years of talk about the SHTF and food stashes/unrest/recession. etc etc. and now we are innit. Time to get asses in gear

[Moorland Prepper]

The banking and financial sector is in a mess, and they know it.

The Federal Reserve had to enter the repo market in late 2019 as the banks no longer trusted each other to lend money to balance their books. I suspect that the OTC derivative market was the main source of the problem there. Spread your money around in the banking sector and don’t leave too much with any one bank.

Buy assets if you can. These should have some value if the financial system falters and those digital pounds vanish or become inaccessible.

[jennyjj01]

There is no way they will remove these restrictions on the 2nd December, they are just using that date as a target to fool people into thinking they will be “free” by Christmas.

This country is a joke, good luck to us all in 2021, we are certainly going to need it.

Oh, they'll cynically lift restrictions before Christmas as a 'gift' to us. It's a Christmas gift we'll pay for long into the New Year.

Well, it's also a gift I'll dump straight in the bin. I'll decide when these restrictions are lifted for me and it won't be this year.

[jansman]

There is no way they will remove these restrictions on the 2nd December, they are just using that date as a target to fool people into thinking they will be “free” by Christmas.

This country is a joke, good luck to us all in 2021, we are certainly going to need it.

Oh, they'll cynically lift restrictions before Christmas as a 'gift' to us. It's a Christmas gift we'll pay for long into the New Year.

Well, it's also a gift I'll dump straight in the bin. I'll decide when these restrictions are lifted for me and it won't be this year.

I am tending to agree about the ' gift'.

[Vitamin c]

Well the new year is well and truly started I'm just wondering what you all think is around the corner.
Unemployment and the £20 universal credit debate
Furlough will it be extended again
Paying for it all
Even more q.e.
Any views.

[Jerseyspud]

Not sure. Economy isn't in a fantastic place at the moment and the money for furlough etc has to come from. Somewhere