2020 Potential Economic Collapse

[HomeHardener]

Bmw, Honda and Toyota plants all suspended production today for around 4 weeks.

Whilst I currently have a job to go to, (I work for bmw) eventually the cars, car parts etc will dry up and we will be forced to close.

Is this just the beginning...

[Arwen Thebard]

Brent crude is now less than $27 a barrel. Wonder how much lower it can get and just what are the ramifications?

Its now 7pm and oil (WTI) is just over $20 a barrel.

If OPEC keep trying to teach Putin a lesson they will just collapse the global oil system.

Its like watching a game of chicken. Who will last out the longest? Russia or Saudi?

The USA deep-water offshore and tar sands productions are only profitable above $52 I believe, so that's them bankrupt.

[Arwen Thebard]

Have any of you used bitcoin? I am tempted, but there seems quite a lot of fraud going on with it so I haven't yet

Wouldn’t touch it with a barge pole. My local Bargain Booze likes to see Queens Heads, not some electronic Ponzi Scheme.

Crypto currencies are certainly not for the faint hearted and you should really learn about it before getting involved and dont rush in, that's where people get scammed.

While everything is so massively volatile everyone should go with what they know and feel safe. I'm keeping all my spare cash at home for the next few weeks at least. Who remembers all those queues outside banks and building societies with the bank runs back in 2008? Not being able to get your hands on your own cash is really, REALLY FRUSTRATING

[peejay]

Brent crude is now less than $27 a barrel. Wonder how much lower it can get and just what are the ramifications?

Its now 7pm and oil (WTI) is just over $20 a barrel.

If OPEC keep trying to teach Putin a lesson they will just collapse the global oil system.

Its like watching a game of chicken. Who will last out the longest? Russia or Saudi?

The USA deep-water offshore and tar sands productions are only profitable above $52 I believe, so that's them bankrupt.

I was reading the other day that Saudi Arabia had knackered themselves after their last attempt at rigging the market - they went from a massive cash pile to a deficit & have never got it back - supposedly a year or two away from bankruptcy! I imagine that's what the Russians are waiting for...

[Arwen Thebard]

The Saudi Aramco share offer recently replenished their coffers to the tune of about $2 TRILLION I think so I expect their war chests are still pretty flush with cash at the moment. As good a time to kick off as any?

[grenfell]

WTI now at $20.37. On the 31st of march 1986 it reached $10.25 which taking everything into account would be $22.39 in todays prices so in real terms we are lower now. Might put off filling the car , at this rate they'll be paying me to take it away

[Arwen Thebard]

WTI now at $20.37. On the 31st of march 1986 it reached $10.25 which taking everything into account would be $22.39 in todays prices so in real terms we are lower now. Might put off filling the car , at this rate they'll be paying me to take it away

I wouldn't put off filling the car Grenfell as there will probably be long queues at the pumps soon.

Pound sterling has taken a nose dive again today thanks to the $. It amazes me that people are still going into dollars as a safe haven asset, paper-madness IMO.

[tco-lincs]

WTI now at $20.37. On the 31st of march 1986 it reached $10.25 which taking everything into account would be $22.39 in todays prices so in real terms we are lower now. Might put off filling the car , at this rate they'll be paying me to take it away

I wouldn't put off filling the car Grenfell as there will probably be long queues at the pumps soon.

Pound sterling has taken a nose dive again today thanks to the $. It amazes me that people are still going into dollars as a safe haven asset, paper-madness IMO.

Fuel shortages are my thoughts on the next crisis, alreday told my family to keep stocked up and going to fill my cans too.

[grenfell]

Only joking about not filling up cars and cans filled although i could top up the van.

[tco-lincs]

Bullion by post has suspended deliveries and supermarkets are limiting what can be brought. Might not be able to do much with it at home but at least it'd be in your hands if it's out.
https://www.bullionbypost.co.uk/index/g ... d-traders/

I've been looking more and more at gold but the thing that has always worried me is the storing it.