Is the next financial crisis upon us?

Fed up talking videogames? Why?
User avatar
Hulohot
Member
Joined in 2008
AKA: dan_e1990
Location: Hampshire
Contact:

PostIs the next financial crisis upon us?
by Hulohot » Tue Feb 18, 2020 11:53 am

HSBC has announced they are cutting 10,000 jobs and scaling back operations in the U.S and Europe. They rely heavily on the Chinese markets for the majority of their profits. Has the economic slowdown caused by Coronavirus in China caused this announcement from HSBC today?

Deutche Bank have been struggling for a while now with plunging share prices last year and difficulty selling assets.

The U.S have been propping up the repo markets printing trillions of dollars and injecting it for months now, and the stop date for this behaviour keeps being pushed back.

Jan. 21, 2020 10:13 am ET
The Federal Reserve added $90.8 billion in short-term money to financial markets Tuesday.

https://www.google.com/amp/s/www.wsj.co ... 1579619605

Gold prices have been going up, a typical reaction to economic uncertainty.



I'm sure there are lots more signs that a new, significant crisis is upon us, but do you think it is likely? Or is everything fine.

The media and governments seem to state that everything is generally fine, which is what happened before 2008.

User avatar
Moggy
"Special"
Joined in 2008
AKA: Moggy

PostRe: Is the next financial crisis upon us?
by Moggy » Tue Feb 18, 2020 11:54 am

A Brexit Party video with Godfrey Bloom speaking? :dread:

I am not sure that the current coronavirus is going to trigger a financial meltdown, but the economy is always going through boom and bust. Although we never got the boom after the last crash, that doesn't mean it will not bust again.

Image
User avatar
KK
Moderator
Joined in 2008
Location: Botswana
Contact:

PostRe: Is the next financial crisis upon us?
by KK » Tue Feb 18, 2020 12:08 pm

I don't know, but NS&I has also announced they're cutting their rates from 1st May to an even more paltry level.

They don't want you to save, they want you to SPEND.

Image
User avatar
Lagamorph
Member ♥
Joined in 2010

PostRe: Is the next financial crisis upon us?
by Lagamorph » Tue Feb 18, 2020 12:18 pm

Is part of the issue that a fuckton of money in the system just ends up getting hoarded by big companies/individuals rather than being actually spent? I'm not an economic expert but I'd imagine money needs to be actually spent for the economy to function properly.

Lagamorph's Underwater Photography Thread
Zellery wrote:Good post Lagamorph.
Turboman wrote:Lagomorph..... Is ..... Right
User avatar
Knoyleo
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Knoyleo » Tue Feb 18, 2020 12:22 pm

It's almost as if neoliberal capitalism is in its death throes, or something.

User avatar
Lex-Man
Member
Joined in 2008
Contact:

PostRe: Is the next financial crisis upon us?
by Lex-Man » Tue Feb 18, 2020 12:23 pm

Knoyleo wrote:It's almost as if neoliberal capitalism is in its death throes, or something.


You're not that lucky.

Amusement under late capitalism is the prolongation of work.
User avatar
Hulohot
Member
Joined in 2008
AKA: dan_e1990
Location: Hampshire
Contact:

PostRe: Is the next financial crisis upon us?
by Hulohot » Tue Feb 18, 2020 12:26 pm

Lagamorph wrote:Is part of the issue that a fuckton of money in the system just ends up getting hoarded by big companies/individuals rather than being actually spent? I'm not an economic expert but I'd imagine money needs to be actually spent for the economy to function properly.


Yes! I'm always fascinated when the topic of wealth distribution comes up. Boggles the mind that the 1% can hoard the vast majority of money in circulation.

User avatar
Tomous
I Pissed My Pants
Joined in 2010
AKA: Vampbuster

PostRe: Is the next financial crisis upon us?
by Tomous » Tue Feb 18, 2020 12:29 pm

Hulohot wrote:
Lagamorph wrote:Is part of the issue that a fuckton of money in the system just ends up getting hoarded by big companies/individuals rather than being actually spent? I'm not an economic expert but I'd imagine money needs to be actually spent for the economy to function properly.


Yes! I'm always fascinated when the topic of wealth distribution comes up. Boggles the mind that the 1% can hoard the vast majority of money in circulation.



The problem is, the wealthy dictate Government action. Especially in the US. It's basically impossible to reform in its current state.

Image
User avatar
Lagamorph
Member ♥
Joined in 2010

PostRe: Is the next financial crisis upon us?
by Lagamorph » Tue Feb 18, 2020 12:32 pm

Tomous wrote:
Hulohot wrote:
Lagamorph wrote:Is part of the issue that a fuckton of money in the system just ends up getting hoarded by big companies/individuals rather than being actually spent? I'm not an economic expert but I'd imagine money needs to be actually spent for the economy to function properly.


Yes! I'm always fascinated when the topic of wealth distribution comes up. Boggles the mind that the 1% can hoard the vast majority of money in circulation.



The problem is, the wealthy dictate Government action. Especially in the US. It's basically impossible to reform in its current state.

Even without reform if the money was just spent rather than hoarded then at least it would be getting back into the system and into circulation.

Lagamorph's Underwater Photography Thread
Zellery wrote:Good post Lagamorph.
Turboman wrote:Lagomorph..... Is ..... Right
Dual
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Dual » Tue Feb 18, 2020 12:33 pm

Not with Boris in charge. Get it done Boris!!!

User avatar
Knoyleo
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Knoyleo » Tue Feb 18, 2020 12:50 pm

Lex-Man wrote:
Knoyleo wrote:It's almost as if neoliberal capitalism is in its death throes, or something.


You're not that lucky.

I don't expect it to be a quiet or peaceful end, sadly.

User avatar
Peter Crisp
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Peter Crisp » Tue Feb 18, 2020 1:33 pm

KK wrote:I don't know, but NS&I has also announced they're cutting their rates from 1st May to an even more paltry level.

They don't want you to save, they want you to SPEND.


I'm a saver by nature and the rates at the moment are indeed piss poor. I've never had to use credit in my life and always save up for things before I buy them. The difference between the rates for borrowers and savers is just insane.

jiggles wrote:Nobody with a VR headset is going to be using it regularly this time next year, let alone in 4 years time.


Posted 16th March 2016. Let's see.
User avatar
Lex-Man
Member
Joined in 2008
Contact:

PostRe: Is the next financial crisis upon us?
by Lex-Man » Tue Feb 18, 2020 1:35 pm

Knoyleo wrote:
Lex-Man wrote:
Knoyleo wrote:It's almost as if neoliberal capitalism is in its death throes, or something.


You're not that lucky.

I don't expect it to be a quiet or peaceful end, sadly.


I think what ever comes after will probably be worse. Probably full on facism.

Amusement under late capitalism is the prolongation of work.
User avatar
Peter Crisp
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Peter Crisp » Tue Feb 18, 2020 1:44 pm

Lex-Man wrote:
Knoyleo wrote:
Lex-Man wrote:
Knoyleo wrote:It's almost as if neoliberal capitalism is in its death throes, or something.


You're not that lucky.

I don't expect it to be a quiet or peaceful end, sadly.


I think what ever comes after will probably be worse. Probably full on facism.


Maybe I'm a bit more optimistic (which for me is a tad odd) as I've been through many predictions of doom and things normally end up pretty similar to how they were before. We've had financial crashes before and yes things got a bit shittier but we're not in the Mad Max Hellscape (which is lucky for me as I can't drive so I'd at best be a sidekick) just yet and yes, I've been made redundant twice because the company I worked for went tits-up but oh well.

Yeah, maybe a financial crash is coming and things may get a bit buggered for a while but life will go on and most of the economy will be fine.
I don't think the UK is in danger of going full on fascist or socialist as most people are pretty middle of the road.

jiggles wrote:Nobody with a VR headset is going to be using it regularly this time next year, let alone in 4 years time.


Posted 16th March 2016. Let's see.
User avatar
Squinty
Member
Joined in 2009
Location: Norn Oirland

PostRe: Is the next financial crisis upon us?
by Squinty » Tue Feb 18, 2020 1:47 pm

Peter Crisp wrote:
KK wrote:I don't know, but NS&I has also announced they're cutting their rates from 1st May to an even more paltry level.

They don't want you to save, they want you to SPEND.


I'm a saver by nature and the rates at the moment are indeed piss poor. I've never had to use credit in my life and always save up for things before I buy them. The difference between the rates for borrowers and savers is just insane.


I'm a saver by nature as well. Only have the mortgage as a debt hanging over me. The rates have been shite over the past few years. There's very little incentive to do it beyond 'for a rainy day'.

User avatar
Moggy
"Special"
Joined in 2008
AKA: Moggy

PostRe: Is the next financial crisis upon us?
by Moggy » Tue Feb 18, 2020 1:54 pm

Peter Crisp wrote:
Lex-Man wrote:
Knoyleo wrote:
Lex-Man wrote:
Knoyleo wrote:It's almost as if neoliberal capitalism is in its death throes, or something.


You're not that lucky.

I don't expect it to be a quiet or peaceful end, sadly.


I think what ever comes after will probably be worse. Probably full on facism.


Maybe I'm a bit more optimistic (which for me is a tad odd) as I've been through many predictions of doom and things normally end up pretty similar to how they were before. We've had financial crashes before and yes things got a bit shittier but we're not in the Mad Max Hellscape (which is lucky for me as I can't drive so I'd at best be a sidekick) just yet and yes, I've been made redundant twice because the company I worked for went tits-up but oh well.

Yeah, maybe a financial crash is coming and things may get a bit buggered for a while but life will go on and most of the economy will be fine.
I don't think the UK is in danger of going full on fascist or socialist as most people are pretty middle of the road.


We’ve just walked out of the EU based on far right lies. While the PM refused to sack, condemn or disagree with a literal Nazi advisor. The government have spoken about restricting the role judges can play. The government just a few months ago illegally shut parliament. The views of ordinary people get more extreme each day as the poison on social media creeps in.

We are far closer to a fascist state than you imagine. That doesn’t mean I think it will happen, but there are plenty of people that would cheer it on if it did arise.

Image
User avatar
OrangeRKN
SONM & Cake Sec.
SONM & Cake Sec.
Joined in 2015
Location: Reading, UK
Contact:

PostRe: Is the next financial crisis upon us?
by OrangeRKN » Tue Feb 18, 2020 1:55 pm

Peter Crisp wrote:I don't think the UK is in danger of going full on fascist or socialist as most people are pretty middle of the road.


Fascism doesn't need majority support and history provides plenty of examples of why we shouldn't dismiss it as a credible threat to our society.

Image
Image
orkn.uk - SW-6533-2461-3235 - @OrangeRakoon - ACNH Howdyfern
User avatar
Kezzer
Member
Joined in 2012

PostRe: Is the next financial crisis upon us?
by Kezzer » Tue Feb 18, 2020 2:02 pm

I was rewatching The World at War at the build up is eerily similar.

All we need now is a financial crash, mass unemployment - and a right wing government

oh.

Image
Image
Image

Check out the Digital Combat Simulator thread for some hardcore aerial combat! | Mumble | PCGT V | The Photography Thread
User avatar
Moggy
"Special"
Joined in 2008
AKA: Moggy

PostRe: Is the next financial crisis upon us?
by Moggy » Tue Feb 18, 2020 2:21 pm

Kezzer wrote:I was rewatching The World at War at the build up is eerily similar.

All we need now is a financial crash, mass unemployment - and a right wing government

oh.


Difference is that Hitler wrote about what he wanted to do.



Oh.

Image
User avatar
Rocsteady
Member
Joined in 2008

PostRe: Is the next financial crisis upon us?
by Rocsteady » Tue Feb 18, 2020 6:09 pm

Squinty wrote:
Peter Crisp wrote:
KK wrote:I don't know, but NS&I has also announced they're cutting their rates from 1st May to an even more paltry level.

They don't want you to save, they want you to SPEND.


I'm a saver by nature and the rates at the moment are indeed piss poor. I've never had to use credit in my life and always save up for things before I buy them. The difference between the rates for borrowers and savers is just insane.


I'm a saver by nature as well. Only have the mortgage as a debt hanging over me. The rates have been shite over the past few years. There's very little incentive to do it beyond 'for a rainy day'.

Invest in a tracker fund rather than in a bank. Think I've been hitting about 9% over the last 18 months.

Image

Return to “Stuff”

Who is online

Users browsing this forum: Christopher, Cuttooth, floydfreak, Garth, Google [Bot], kommissarboris, Lex-Man, Meep, more heat than light, Oblomov Boblomov, Rich, shy guy 64, Xeno and 199 guests