The Student Room Group

Forget immigration and terrorism because something bigger is coming...

Get ready people, 2008 was not a big enough lesson for us. The world economy is heading for another financial crisis, and it's going to be bigger, I'm not a fear mongering doomsayer, I'm a realist. Policy makers and bankers having been running the global casino for too long and now it's going to head for a tumble. Many global institutions are saying it even the famed International Monetray Fund (IMF).

So forget immigrantion, forget terrorism forget all these problems, they're for another time because the upcoming financial crisis is coming and it's going to hit us big.

There isn't much you can do, get your stocks out but your cash won't be worth much.

http://www.theguardian.com/business/2016/jan/12/beware-great-2016-financial-crisis-warns-city-pessimist

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Original post by Mr Hyde(r)
Get ready people, 2008 was not a big enough lesson for us. The world economy is heading for another financial crisis, and it's going to be bigger, I'm not a fear mongering doomsayer, I'm a realist. Policy makers and bankers having been running the global casino for too long and now it's going to head for a tumble. Many global institutions are saying it even the famed International Monetray Fund (IMF).

So forget immigrantion, forget terrorism forget all these problems, they're for another time because the upcoming financial crisis is coming and it's going to hit us big.

There isn't much you can do, get your stocks out but your cash won't be worth much.

http://www.theguardian.com/business/2016/jan/12/beware-great-2016-financial-crisis-warns-city-pessimist


Good thing I am worth sod all. No?
No we won't forget Immigration and Terrorism.
Could this be moved to News and Current Affairs? Thanks.

@Mochassassin
@MrDystopia
@iEthan
Original post by Gnomes&Knights
No we won't forget Immigration and Terrorism.


Suit yourself, but you're being delusional in the nicest possibles way. The economy is everything my friend, it dictates policy, it dictates social circumstances, economics is the finger that pushes the domino to start the ultimate chain reaction.
Original post by Hydeman
Could this be moved to News and Current Affairs? Thanks.

@Mochassassin
@MrDystopia
@iEthan


Done. :smile:
I wouldn't worry about. Trust me, I work for a bank.
You sadistic person. The phrases 'bright side' and 'economy crashing' don't go together. Millions upon millions of jobs lost resulting in millions and millions homeless. Which in turn results in thousands of deaths.

Sadly the youth don't realise the unparalleled importance of the economy and how bad the 2008 financial crisis actually was.
Original post by DiddyDec
I wouldn't worry about. Trust me, I work for a bank.


Lol, trust and banks. Oxymoron
Original post by Mr Hyde(r)
Lol, trust and banks. Oxymoron


It is a very trustworthy bank.
Original post by DiddyDec
It is a very trustworthy bank.


You remind me of Charles Dickens, I know of no other author who is so gifted in creating so many oxymorons :top2: I take my hat off to you Sir
Nevertheless, the negatives will vastly outweigh any perceived positives (if it can even be called that)
Original post by Mr Hyde(r)
Get ready people, 2008 was not a big enough lesson for us. The world economy is heading for another financial crisis, and it's going to be bigger, I'm not a fear mongering doomsayer, I'm a realist. Policy makers and bankers having been running the global casino for too long and now it's going to head for a tumble. Many global institutions are saying it even the famed International Monetray Fund (IMF).

So forget immigrantion, forget terrorism forget all these problems, they're for another time because the upcoming financial crisis is coming and it's going to hit us big.

There isn't much you can do, get your stocks out but your cash won't be worth much.

http://www.theguardian.com/business/2016/jan/12/beware-great-2016-financial-crisis-warns-city-pessimist


Isn't eight years long enough for our economies to recover? Afte all, surely we have learnt from the lessons of the '07 and '08 crashes, and put safeguards in place to prevent it from happening again? Such as the tightening up of the credit profiling??
Original post by john2054
Isn't eight years long enough for our economies to recover? Afte all, surely we have learnt from the lessons of the '07 and '08 crashes, and put safeguards in place to prevent it from happening again? Such as the tightening up of the credit profiling??


We recovered from the Great Depression, that didn't stop 2008. We never learnt from the Great Depression either, hence 2008. Never underestimate the greed that shadows capitalism. Do you know who got hit hardest from 2008? You and me, the middle and the working class, the 1% came off fine in fact the banks hardly had a scratch. You and I bailed these guys out and there are always other ways to topple the economy, create a bubble and kaboom. Read the article it explains it.
Its called Gold. Buy some!
Original post by Mr Hyde(r)
We recovered from the Great Depression, that didn't stop 2008. We never learnt from the Great Depression either, hence 2008. Never underestimate the greed that shadows capitalism. Do you know who got hit hardest from 2008? You and me, the middle and the working class, the 1% came off fine in fact the banks hardly had a scratch. You and I bailed these guys out and there are always other ways to topple the economy, create a bubble and kaboom. Read the article it explains it.


A picture tells a thousand words right? Well the two traders in the photo on the papers article, are actually smiling. I think the media are just worrying themselves to death, whist the markets continue to ply their trade (hence the smiles). Please remember one man's misfortune, is another ones camelot!
Original post by Betelgeuse-
Its called Gold. Buy some!


Mhmm, that's what the Russian millionaires/billionaires are doing. Spending 10s of millions on diamond jewelry to keep their money safe
Original post by john2054
Isn't eight years long enough for our economies to recover? Afte all, surely we have learnt from the lessons of the '07 and '08 crashes, and put safeguards in place to prevent it from happening again? Such as the tightening up of the credit profiling??


Our economy has recovered however very few lessons from the Great Recession have been learned (and the wrong lessons probably kept in the mind). We are still piling up unfunded guarantees, the credit supply to households is still higher than it should be with insufficient risk premiums and our addiction to rising house prices still remains (not to mention low real wage growth).

OP is probably being too bearish (there's little evidence we're going to enter recession in the next year or two) however he is right to suggest that the next recession will be another big one.

If we want a sustainable economy then we need to curtail growth in the credit supply somewhat so that house prices stall and affordability increases (in 2010-2012 mortgage lending was lower than it had been since the late 70's and the result was that outside London prices were actually falling). We also need to properly fund government spending instead of providing guarantees to the private sector from the taxpayer and finally we need to address wage growth, possibly by tying it to something like sales growth.
Original post by john2054
Please remember one man's misfortune, is another ones camelot!


Except it's the 99%'s misfortune is the 1% Camelot. The media is just reporting the information from economically savy bodies such as the IMF, banks and leading economic experts and other global institutions
Original post by Rakas21
Our economy has recovered however very few lessons from the Great Recession have been learned (and the wrong lessons probably kept in the mind). We are still piling up unfunded guarantees, the credit supply to households is still higher than it should be with insufficient risk premiums and our addiction to rising house prices still remains (not to mention low real wage growth).

OP is probably being too bearish (there's little evidence we're going to enter recession in the next year or two) however he is right to suggest that the next recession will be another big one.

If we want a sustainable economy then we need to curtail growth in the credit supply somewhat so that house prices stall and affordability increases (in 2010-2012 mortgage lending was lower than it had been since the late 70's and the result was that outside London prices were actually falling). We also need to properly fund government spending instead of providing guarantees to the private sector from the taxpayer and finally we need to address wage growth, possibly by tying it to something like sales growth.


Well keep your eyes on the yield curves and we'll see what happens. You're right about wage growth, increasing the minimum wage will inevitably increase spending, Henry Ford understood this all too well.

We have to remember 2008 was not just about a fraudulent banking system with corrupt rating companies but also fools such as Alan Greenspan (can't remember how to spell his name) who created very unhelpful policies.

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