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I'm probably going to regret asking this, but here goes...
As far as I can tell, everything was going just fine. Then one day we
started hearing reports about some bank that nobody's ever heard of
called "Northan Rock". Something about them being in financial trouble.
Que scenes of people standing in the street trying to withdraw their money.
A few weeks later and people are talking about "credit crunch" and
"ecomonic meltdown" and "global recession" and stock markets tumbling to
the ground, and now there's some talk about Japan's currency collapsing...
So, seriously, does the entire world really fall apart in a few weeks
just because one nobody company goes bust? Or is there something bigger
going on here?
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Invisible wrote:
> So, seriously, does the entire world really fall apart in a few weeks
> just because one nobody company goes bust? Or is there something bigger
> going on here?
A couple big banks in the US crumbled. Apparently they're taking the
rest of the world with them.
And wasn't Ĩ already like 1000:1 to the US dollar?
--
~Mike
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>> So, seriously, does the entire world really fall apart in a few weeks
>> just because one nobody company goes bust? Or is there something
>> bigger going on here?
>
> A couple big banks in the US crumbled. Apparently they're taking the
> rest of the world with them.
That makes significantly more sense...
(Random: Is the USA actually *the* richest nation on the face of the
Earth? Or is there somebody richer?)
> And wasn't Ĩ already like 1000:1 to the US dollar?
...you're asking *me*? ;-)
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Invisible wrote:
>
> ...you're asking *me*? ;-)
Nah, the question was entirely rhetorical. ;)
FWIW, I looked it up, 93.something per USD. So, not quite that big a
difference.
--
~Mike
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>> ...you're asking *me*? ;-)
>
> Nah, the question was entirely rhetorical. ;)
>
> FWIW, I looked it up, 93.something per USD. So, not quite that big a
> difference.
All I know is that a few months ago, Ģ1 = $2. And now it's more like Ģ1
= $1.60 :-(
There goes my Christmas shopping...
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"Invisible" <voi### [at] dev null> wrote in message
news:4905e162$1@news.povray.org...
> All I know is that a few months ago, Ģ1 = $2. And now it's more like Ģ1 =
> $1.60 :-(
>
> There goes my Christmas shopping...
That's not too bad. The rand's gone from R8 = $1 to R12 = $1 in 3 weeks
And I'm going to the US in 2 weeks. :-(
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"Invisible" <voi### [at] devnull> wrote in message
news:4905d9db@news.povray.org...
> So, seriously, does the entire world really fall apart in a few weeks just
> because one nobody company goes bust? Or is there something bigger going
> on here?
Northern Rock was a symptom, not the cause. Google sub-prime if you really
want to know.
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Invisible wrote:
>>> ...you're asking *me*? ;-)
>>
>> Nah, the question was entirely rhetorical. ;)
>>
>> FWIW, I looked it up, 93.something per USD. So, not quite that big a
>> difference.
>
> All I know is that a few months ago, Ģ1 = $2. And now it's more like Ģ1
> = $1.60 :-(
>
> There goes my Christmas shopping...
:-) for me
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>> All I know is that a few months ago, Ģ1 = $2. And now it's more like
>> Ģ1 = $1.60 :-(
>>
>> There goes my Christmas shopping...
>
>
> :-) for me
...why? You gonna buy something from the UK? :-P
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Gail wrote:
> Northern Rock was a symptom, not the cause.
Makes more sense...
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Invisible wrote:
>>> All I know is that a few months ago, Ģ1 = $2. And now it's more like
>>> Ģ1 = $1.60 :-(
>>>
>>> There goes my Christmas shopping...
>>
>>
>> :-) for me
>
> ...why? You gonna buy something from the UK? :-P
On a tangentially related note USD if once again stronger than CAD
--
~Mike
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Mike Raiford wrote:
> Invisible wrote:
>>>> All I know is that a few months ago, Ģ1 = $2. And now it's more like
>>>> Ģ1 = $1.60 :-(
>>>>
>>>> There goes my Christmas shopping...
>>>
>>>
>>> :-) for me
>>
>> ...why? You gonna buy something from the UK? :-P
>
> On a tangentially related note USD if once again stronger than CAD
>
if = is
--
~Mike
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Gail wrote:
>
> "Invisible" <voi### [at] devnull> wrote in message
> news:4905d9db@news.povray.org...
>
>> So, seriously, does the entire world really fall apart in a few weeks
>> just because one nobody company goes bust? Or is there something
>> bigger going on here?
>
> Northern Rock was a symptom, not the cause. Google sub-prime if you
> really want to know.
If you can tolerate the harsh language, The Sub-prime Primer with stick
figures was a pretty good explanation.
http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true
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Sabrina Kilian wrote:
> If you can tolerate the harsh language, The Sub-prime Primer with stick
> figures was a pretty good explanation.
> http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true
What a... delightful... creation. o_O
I find myself really wanting to believe that human kind isn't that
stupid. But.....
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Invisible wrote:
> I find myself really wanting to believe that human kind isn't that
> stupid. But.....
abject pessimism always makes you pleasantly surprised. Just expect the
worst out of people, and you'll be amazed when somebody does something
smart.
I saw this coming years ago, BTW ... When the average family started
buying up $250,000 houses, I knew something somewhere was going to fall
apart. ->POP<- What was that? I think a bubble just burst.
--
~Mike
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"Mike Raiford" <"m[raiford]!at"@gmail.com> wrote in message
news:4905efba@news.povray.org...
>
> I saw this coming years ago, BTW
Likewise. The whole 'live beyond your means', 'don't worry about debt',
'just get another credit card' thing could not end well.
Hell, my credit card limit way exceeds my monthly income and has for a
number of years, and this in a country where there are laws agaist offering
loans/credit to people who can't afford it.
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>> I find myself really wanting to believe that human kind isn't that
>> stupid. But.....
>
> abject pessimism always makes you pleasantly surprised. Just expect the
> worst out of people, and you'll be amazed when somebody does something
> smart.
LOL! Nice...
I always seem to expect other people to be smarter than me, and then
feel dissapointed when they aren't. (Which is odd, considering I'm such
a pessimistic person.)
> I saw this coming years ago, BTW ... When the average family started
> buying up $250,000 houses, I knew something somewhere was going to fall
> apart. ->POP<- What was that? I think a bubble just burst.
My pension provider just wrote to me to say that although the current
situation is looking pretty grim, things should turn out OK in the end.
The whole "these things happen from time to time, now is not the time to
panic, etc." I don't know whether to be reassured or dismiss it as
marketing hype. (Basically they don't want me to close the pension fund
they currently have the use of...)
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>> I saw this coming years ago, BTW
>
> Likewise. The whole 'live beyond your means', 'don't worry about debt',
> 'just get another credit card' thing could not end well.
> Hell, my credit card limit way exceeds my monthly income and has for a
> number of years, and this in a country where there are laws agaist
> offering loans/credit to people who can't afford it.
Heh. Well my mum has been living off loans for years... no, decades... I
don't really understand why, but the women *never* has any money, and is
constantly having to borrow it from people so she can pay basic bills.
Oh well, never mind. Apparently due to the credit crunch, she's likely
to be employed by the end of the year. No sane employer is going to hire
somebody who's a few years away from retirement age, so presumably I
will shortly be homeless. But let's not think about that too much, eh?
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Invisible wrote:
> My pension provider just wrote to me to say that although the current
> situation is looking pretty grim, things should turn out OK in the end.
> The whole "these things happen from time to time, now is not the time to
> panic, etc." I don't know whether to be reassured or dismiss it as
> marketing hype. (Basically they don't want me to close the pension fund
> they currently have the use of...)
IANAFA (I am not a financial advisor)
But, here's the thing: You're young and no where near retirement age. In
short, don't panic. Selling now would be a very bad thing. Keep your
long term investments. I have a 401(k) plan, and am quite happy picking
up some cheap stocks through it at the moment. Because once the market
recovers, my retirement goes up at a faster rate.
Of course, the outlook is bleak for those looking to retire in the near
future.
--
~Mike
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Invisible wrote:
>>> I find myself really wanting to believe that human kind isn't that
>>> stupid. But.....
>>
>> abject pessimism always makes you pleasantly surprised. Just expect
>> the worst out of people, and you'll be amazed when somebody does
>> something smart.
>
> LOL! Nice...
>
> I always seem to expect other people to be smarter than me, and then
> feel dissapointed when they aren't. (Which is odd, considering I'm such
> a pessimistic person.)
>
>> I saw this coming years ago, BTW ... When the average family started
>> buying up $250,000 houses, I knew something somewhere was going to
>> fall apart. ->POP<- What was that? I think a bubble just burst.
>
> My pension provider just wrote to me to say that although the current
> situation is looking pretty grim, things should turn out OK in the end.
> The whole "these things happen from time to time, now is not the time to
> panic, etc." I don't know whether to be reassured or dismiss it as
> marketing hype. (Basically they don't want me to close the pension fund
> they currently have the use of...)
got some extra cash floating around...
now is a pretty good time to figure out how to put it into the market -
but then again, you don't know how low it can go.
One better - go borrow a few thousand and put it in the market. Your
collateral is the stocks you own of the company that just went bankrupt.
oh wait.....
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On Mon, 27 Oct 2008 15:30:02 +0000, Invisible wrote:
> (Random: Is the USA actually *the* richest nation on the face of the
> Earth? Or is there somebody richer?)
One could argue that China is the richest country in the world....
Jim
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"Invisible" <voi### [at] devnull> wrote in message
news:4905f2f4@news.povray.org...
> presumably I will shortly be homeless. But let's not think about that too
> much, eh?
Perfect time to start looking for your own place (rent or buy)
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Invisible <voi### [at] devnull> wrote:
> I'm probably going to regret asking this, but here goes...
>
> As far as I can tell, everything was going just fine. Then one day we
> started hearing reports about some bank that nobody's ever heard of
> called "Northan Rock". Something about them being in financial trouble.
> Que scenes of people standing in the street trying to withdraw their money.
>
> A few weeks later and people are talking about "credit crunch" and
> "ecomonic meltdown" and "global recession" and stock markets tumbling to
> the ground, and now there's some talk about Japan's currency collapsing...
>
> So, seriously, does the entire world really fall apart in a few weeks
> just because one nobody company goes bust? Or is there something bigger
> going on here?
No. It is because a few selfish, childish pentagon squatters
(The civilian Defense Policy Board actually wields more control over the
military establishment than the Defense Secretary or the generals and admirals)
got too greedy and pulled a "power grab" without regard for anyone that might
get hurt.
911 = Operation Northwoods reborn.
Real reporting by John Pilger
http://newsmine.org/content.php?ol=9-11/need-new-pearl-harbor.txt
In other words, innocent people will be killed by the United States. This is
reminiscent of Operation Northwoods, the plan put to President Kennedy by his
military chiefs for a phoney terrorist campaign - complete with bombings,
hijackings, plane crashes and dead Americans - as justification for an invasion
of Cuba. Kennedy rejected it. He was assassinated a few months later. Now
Rumsfeld has resurrected Northwoods, but with resources undreamt of in 1963 and
with no global rival to invite caution. You have to keep reminding yourself this
is not fantasy: that truly dangerous men, such as Perle and Rumsfeld and Cheney,
have power. The thread running through their ruminations is the importance of
the media: "the prioritised task of bringing on board journalists of repute to
accept our position".
"Our position" is code for lying. Certainly, as a journalist, I have never known
official lying to be more pervasive than today. We may laugh at the vacuities in
Tony Blair's "Iraq dossier" and Jack Straw's inept lie that Iraq has developed a
nuclear bomb (which his minions rushed to "explain"). But the more insidious
lies, justifying an unprovoked attack on Iraq and linking it to would-be
terrorists who are said to lurk in every Tube station, are routinely channelled
as news. They are not news; they are black propaganda.
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>> presumably I will shortly be homeless. But let's not think about that
>> too much, eh?
>
> Perfect time to start looking for your own place (rent or buy)
No - *that* happens when the housing market bottoms out. ;-)
(Or at least when I get a job that pays more than the minimum wage
anyway...)
--
http://blog.orphi.me.uk/
http://www.zazzle.com/MathematicalOrchid*
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"Orchid XP v8" <voi### [at] devnull> wrote in message
news:49061931$1@news.povray.org...
>>> presumably I will shortly be homeless. But let's not think about that
>>> too much, eh?
>>
>> Perfect time to start looking for your own place (rent or buy)
>
> No - *that* happens when the housing market bottoms out. ;-)
>
> (Or at least when I get a job that pays more than the minimum wage
> anyway...)
And how is the job hunt going?
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Invisible wrote:
> (Random: Is the USA actually *the* richest nation on the face of the
> Earth? Or is there somebody richer?)
It's fiat money, so the question is meaningless.
Iceland used to have an excellent economy. Then the government said
"Whoops, our money isn't worth much", and overnight they have food
shortages because nobody knows how much the Kroner is to the Euro
without the government imposing it.
Money that's only of value when someone threatens you with a gun if you
don't accept it? Priceless.
--
Darren New / San Diego, CA, USA (PST)
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Gail wrote:
> That's not too bad. The rand's gone from R8 = $1 to R12 = $1 in 3 weeks
There are worse places in Africa to be right now.
http://news.bbc.co.uk/2/hi/africa/5231836.stm
> And I'm going to the US in 2 weeks. :-(
Oh? Where will you be? West coast, east coast, middle?
--
Darren New / San Diego, CA, USA (PST)
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"Darren New" <dne### [at] sanrrcom> wrote in message
news:490623c6$1@news.povray.org...
> Gail wrote:
>> That's not too bad. The rand's gone from R8 = $1 to R12 = $1 in 3 weeks
>
> There are worse places in Africa to be right now.
> http://news.bbc.co.uk/2/hi/africa/5231836.stm
>
> > And I'm going to the US in 2 weeks. :-(
>
> Oh? Where will you be? West coast, east coast, middle?
Seattle. I'm attending and speaking at a conference there.
Hope it doesn't snow.
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On 27-Oct-08 16:30, Invisible wrote:
>>> So, seriously, does the entire world really fall apart in a few weeks
>>> just because one nobody company goes bust? Or is there something
>>> bigger going on here?
>>
>> A couple big banks in the US crumbled. Apparently they're taking the
>> rest of the world with them.
>
> That makes significantly more sense...
>
> (Random: Is the USA actually *the* richest nation on the face of the
> Earth? Or is there somebody richer?)
>
It is rich only for a certain value of rich. If you look at the curve of
the debt of the government it has been steadily rising fast (ok, it
leveled a bit of at the end of the clinton era). What this government
did is use taxpayers money (that they didn't have) to buy a lot of goods
from american companies at possibly slightly inflated prices (mostly war
and 'terrorism' related. e.g cruise missiles, blackwater). So a group of
wealthy americans (with the right friends) got much richer indeed. It is
effectively a way to let a lot of people pay a bit (in taxes) and give
it to a few. There were sound economic reasons for that, but I can't
remember which. The Bush administration will continue adding to this
shift in money by spending and allocating lots of more money soon a) to
increase the change of mccain winning and b) if he looses to prevent the
next government to be able to keep their promises. Or perhaps they did
that already.
So, some people in the country are rich. You might say that the country
as a whole is rich too (in goods at least, but also in debts). The
government OTOH is more or less bankrupt, except that that can not
happen because the dollar is the world currency.
See indeed that googledoc thing for some explanation on how the rest of
the world got involves. Add to that that nobody knows who owns the good
stuff and who owns the rubbish. Hence Bank A will not lend to Bank B,
because it is not sure if Bank B actually can pay the loan back.
Governments around the worlds are now backing the banks, saying that if
Bank B should turn out to own the rubbish, they will pay back the loan.
BTW in case you were wondering, I don't know how much of this is true
and how much is propaganda ;) Read a book about this crisis in 50 years
time (if you are still alive), maybe that will be more objective.
Possibly not, that depends a bit on who will be winning.
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andrel wrote:
> You might say that the country
> as a whole is rich too (in goods at least, but also in debts).
At least we have enough food for ourselves! That's a big step forward.
:-) And plenty of vacant houses! If we could get that whole
energy-independence thing going, we'd probably be OK.
--
Darren New / San Diego, CA, USA (PST)
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Invisible wrote:
>>> All I know is that a few months ago, Ģ1 = $2. And now it's more like
>>> Ģ1 = $1.60 :-(
>>>
>>> There goes my Christmas shopping...
>>
>>
>> :-) for me
>
> ....why? You gonna buy something from the UK? :-P
no, but it is similar to the euro - I do plan a trip next year.
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Gail wrote:
> Seattle. I'm attending and speaking at a conference there.
If you get a chance, check out Mount Rainier National Park or Olympia
National Park. Both are within a couple hours drive of Seattle. Like, if
you're there over the weekend or something. :-)
--
Darren New / San Diego, CA, USA (PST)
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"Darren New" <dne### [at] sanrrcom> wrote in message
news:49062d85$1@news.povray.org...
> Gail wrote:
>> Seattle. I'm attending and speaking at a conference there.
>
> If you get a chance, check out Mount Rainier National Park or Olympia
> National Park. Both are within a couple hours drive of Seattle. Like, if
> you're there over the weekend or something. :-)
Arriving on the saturday afternoon (badly jetlagged). Conference Mon-Fri.
Leaving very early the following monday.
Have no car and no intention of driving in the US. Do you know if there are
day tours (bus)? If so, I'll check one of them out. I don't think I have any
plans for the 2nd weekend.
Mount Rainier could be interesting.
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On 27-Oct-08 21:57, Darren New wrote:
> andrel wrote:
>> You might say that the country as a whole is rich too (in goods at
>> least, but also in debts).
>
> At least we have enough food for ourselves! That's a big step forward.
> :-) And plenty of vacant houses! If we could get that whole
> energy-independence thing going, we'd probably be OK.
>
Probably. well, there are some minor things you still have to import,
some metals, some minerals, some PhD's, but otherwise you may be fine.
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Gail wrote:
> Have no car and no intention of driving in the US.
Are you on the wrong side down there? It freaked me out just being a
passenger. :-)
> Do you know if there
> are day tours (bus)? If so, I'll check one of them out.
Offhand, I don't know, but I wouldn't be surprised. It's the sort of
thing those places do. (I've seen tour busses in at least the Mt Rainier
park, but I don't know if that's starting in Seattle or what.) I'd guess
google would tell you, or if you have the hotel's phone number, you can
ask them to arrange something before you get there.
--
Darren New / San Diego, CA, USA (PST)
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"Darren New" <dne### [at] sanrrcom> wrote in message
news:49063405$1@news.povray.org...
> Gail wrote:
>> Have no car and no intention of driving in the US.
>
> Are you on the wrong side down there? It freaked me out just being a
> passenger. :-)
We're on the correct side, you're on the wrong side. <grin>
I have enough trouble as a pedestrian in the US. I don't want to risk trying
to drive. It's just asking for trouble
>> Do you know if there are day tours (bus)? If so, I'll check one of them
>> out.
>
> Offhand, I don't know, but I wouldn't be surprised. It's the sort of thing
> those places do.
Thanks. I'll check.
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Gail wrote:
> I have enough trouble as a pedestrian in the US. I don't want to risk
> trying to drive. It's just asking for trouble
I can completely understand that. When I was a shotgun seat passenger in
Kenya, I grabbed onto the dashboard every time he made a right turn just
when there was traffic *right* *there*! :-) I was sure I was gonna get
walloped, except it was in the other lane. :-)
--
Darren New / San Diego, CA, USA (PST)
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Gail wrote:
> Seattle. I'm attending and speaking at a conference there.
If you have time and are so inclined, I also recommend taking a tour of
the 3400 Phinney chocolate factory. It's $5, but *well* worth it. It's
also pretty easy to get to by bus or taxi. The main catch is that the
tours sell out pretty quickly, so you should call and make a reservation
soon if you're interested:
http://www.theochocolate.com/ (bottom half of page)
I also second Darren's recommendations, if you can manage
transportation. If weather is good Mt. Ranier is a simply spectacular
place to go on a short hike, but this isn't quite the ideal time of year
to visit so check that it won't be overcast / snowed in before you so
do. The Olympic National Park should be completely fine whatever the
weather (if a bit cold and damp).
> Hope it doesn't snow.
It's unlikely, but I'd expect a cold light rain.
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Gail wrote:
> And how is the job hunt going?
I contacted an agency last week who seemed to think they had a graduate
Java position on Warwick that they wanted to fill. They claim to have
passed on my CV, but I've heard nothing since.
(They also mumbled something about somebody wanting Smalltalk
experience, which I made it clear I have. But basically I haven't heard
anything about that either.)
Other than that... it's a question of finding the time to sit down and
actually spend time doing something which is futile and soul-destroying.
It's difficult to find motivation for that.
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Now's a *great* time to invest. If you actually have spare money. If
you're like me and have rode the market down...devil/deep blue sea
situation. So far, my finances have tanked $13,850...*since 01 Oct*.
In other words, I'm screwed.
--
Tim Cook
http://empyrean.freesitespace.net
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Tom Austin <taustin> wrote:
> Invisible wrote:
> >>> ...you're asking *me*? ;-)
> >>
> >> Nah, the question was entirely rhetorical. ;)
> >>
> >> FWIW, I looked it up, 93.something per USD. So, not quite that big a
> >> difference.
> >
> > All I know is that a few months ago, Ģ1 = $2. And now it's more like Ģ1
> > = $1.60 :-(
> >
> > There goes my Christmas shopping...
>
>
> :-) for me
For me too as I’m getting paid in Euros and spending in GBP.
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"Gail" <gail (at) sql in the wild (dot) co [dot] za> wrote:
> "Darren New" <dne### [at] sanrrcom> wrote in message
> news:49063405$1@news.povray.org...
> > Gail wrote:
> >> Have no car and no intention of driving in the US.
> >
> > Are you on the wrong side down there? It freaked me out just being a
> > passenger. :-)
>
> We're on the correct side, you're on the wrong side. <grin>
Right you are! Who was that Napoleon anyway? :-)
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> Invisible wrote:
>
> Iceland used to have an excellent economy. Then the government said
> "Whoops, our money isn't worth much", and overnight they have food
> shortages because nobody knows how much the Kroner is to the Euro
> without the government imposing it.
>
> Money that's only of value when someone threatens you with a gun if you
> don't accept it? Priceless.
They said that? That explains it... ;)
Havenīt seen food shortages though... All supermarkets seem to be well stocked,
donīt know how long it will last, with Christmas just around the corner.
Strange things happen when you least expect it, I guess...
My personal life is already affected, lack of money, sparse work, inflation,
dept growing by the minute. Still Iīm an impossible optimist. Guess I have to
in order to survive.
You can still offer me your condolences...
Hildur
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Hildur K. wrote:
>> Invisible wrote:
>
>> Iceland used to have an excellent economy. Then the government said
>> "Whoops, our money isn't worth much", and overnight they have food
>> shortages because nobody knows how much the Kroner is to the Euro
>> without the government imposing it.
>>
>> Money that's only of value when someone threatens you with a gun if yo
u
>> don't accept it? Priceless.
>
> They said that? That explains it... ;)
They don't have to say that. All they have to do is bail out the banks
and then "delay" trading euros for kronners.
> Havenīt seen food shortages though... All supermarkets seem to be wel
l stocked,
> donīt know how long it will last, with Christmas just around the corn
er.
Dunno. I'm just going on news reports, like
http://www.dailynewscaster.com/2008/10/14/iceland-facing-food-shortage/
> You can still offer me your condolences...
My condolences! :-)
--
Darren New / San Diego, CA, USA (PST)
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Darren New <dne### [at] sanrrcom> wrote:
>
> They don't have to say that. All they have to do is bail out the banks
> and then "delay" trading euros for kronners.
Yeah, you tell them that. Those idiots! Iīm afraid now itīs too late now. There
arenīt any banks left standing to bail out.
> Dunno. I'm just going on news reports, like
> http://www.dailynewscaster.com/2008/10/14/iceland-facing-food-shortage/
>
Yeah, this was news exaggerating which made some people run out and empty some
shelves. That hysteria only lasted for a few days. I understand they are still
importing necessities, medicin, food and oil, in that order.
>
> My condolences! :-)
Oh, Darren, thank you so much :)
And I sincerely hope you guys donīt have to face such a grim situation. Itīs
mind blowing, going from being a rich country (at least thatīs what we were
told) to having to ask for IMF help, in only couple of weeks! I still havent
quite digested any of whatīs happened yet. Can such a thing really happen?
This is what happens when politicians keep you in the dark. Surprise! We are
bankrupt! According to what Iīve seen on the news, this can happen almost
anywhere. And it can spread, the infamous domino effect. Iīm sure politicians
in many countries like to keep the worst bits to themselves for as long as they
can. They donīt want people to panic. Bad for business, especially banks.
Two bad signs are when they tell you "donīt worry, everything is just fine" and
then choose to do nothing and say "now letīs just wait and let the market
regulate itself". Under these unusual circumstances this should put you on high
alert.
Now itīs probably just a matter of time until we see riots on the streets.
People are still in a state of shock. Next comes anger and itīs going to
escalate when more people start loosing their jobs, their homes, their very
foundations in life.
Iīll probably end up on the street with nothing left but my computer... just
joking. If I donīt make it, Iīll probably just leave the country and try to
find someplace safe, where I can plug in my computer...
Well, good to get this off my chest, thanks.
Hildur
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Hildur K. wrote:
> This is what happens when politicians keep you in the dark. Surprise! W
e are
> bankrupt!
Everyone is bankrupt. That's what fiat currency is *for*. It wouldn't be
fiat currency if people would accept it voluntarily as money. :-)
I don't know about your currency, but ours says right on the front that
it isn't real money, but rather just an overdraft on an empty account.
> Now itīs probably just a matter of time until we see riots on the str
eets.
> People are still in a state of shock. Next comes anger and itīs going
to
> escalate when more people start loosing their jobs, their homes, their
very
> foundations in life.
Yep. Or bread lines, depending on how the government reacts.
> Iīll probably end up on the street with nothing left but my computer.
.. just
> joking. If I donīt make it, Iīll probably just leave the country an
d try to
> find someplace safe, where I can plug in my computer...
Someplace with enough of their own resources to support their own
population without having to trade, perhaps.
--
Darren New / San Diego, CA, USA (PST)
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Darren New <dne### [at] sanrrcom> wrote:
> I don't know about your currency, but ours says right on the front that
> it isn't real money, but rather just an overdraft on an empty account.
My bank was offering "free" economic advise six months ago. I went, and they
told me that my situation was just great! I was good for god knows how much
money. Quite surprising as I have never seen much money. I was then thinking
this was exactly like you say, fictive numbers on a piece of paper, just this
time in my favor.
Now these very same numbers are turning against me and Iīm the one whoīs got to
pay. The only difference is that I have to pay with hard cash. It just proves
that they will get my money, no matter what I do or donīt do. In the bitter end
-they- are probably going to get everything I own. -Them- being the vultures
feasting on the situation. Theyīve got the law on their side.
> Yep. Or bread lines, depending on how the government reacts.
Yes. And then the black market will start to bloom. People are already using
cars, motorcycles etc. to trade with. Soon youīll be able to get loans from
smoke filled backrooms and people will pay me for my work with fish or any
other typical domestic product. And then the authorities will start to shout
"criminals!" and impose hard core laws to stop the "illegal" trade. They want
their share no matter what.
> Someplace with enough of their own resources to support their own
> population without having to trade, perhaps.
Yes. Wonder where that might be. Iīm thinking a small island in the
Mediterranean Sea where you can grow almost anything you need. Maybe I should
start learning Greek?
>
Hildur
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Hildur K. wrote:
> Now these very same numbers are turning against me and Iīm the one wh
oīs got to
> pay. The only difference is that I have to pay with hard cash.
http://globaleconomicanalysis.blogspot.com/2007/06/why-does-fiat-money-se
emingly-work.html
http://www.youtube.com/watch?v=vVkFb26u9g8
> Yes. And then the black market will start to bloom.
Black market: Barter. :-)
> Yes. Wonder where that might be. Iīm thinking a small island in the
> Mediterranean Sea where you can grow almost anything you need.
I met one man in Hawaii who was homeless and jobless voluntarily for 30
years. I suppose he occasionally did an odd job just to buy a new shirt
every five years or something, but he didn't seem put out by it.
Alternately, go someplace big enough to be self contained, like China.
Nowadays, their civil rights crap doesn't seem any worse than in the
USA. :-)
--
Darren New / San Diego, CA, USA (PST)
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Darren New <dne### [at] sanrrcom> wrote:
> http://globaleconomicanalysis.blogspot.com/2007/06/why-does-fiat-money-se
> emingly-work.html
>
> http://www.youtube.com/watch?v=vVkFb26u9g8
>
Great links. Thanks!
Hildur
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