2020 Potential Economic Collapse

[Arwen Thebard]

"....the so and so's will no doubt try to spread the hurt."

Unfortunately their losses will likely show up in pension fund failures.

[jansman]

"....the so and so's will no doubt try to spread the hurt."

Unfortunately their losses will likely show up in pension fund failures.

It seems that pension funds always bear the brunt of financial issues. My pension funds are on what is euphemistically known as a ‘Glide Path’ i.e. in low risk arenas to minimise losses prior to retirement. The last word of that last sentence is looking like a bit of a distant dream right now.

[grenfell]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

[jansman]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

My late dad bless him, after three failed marriages, said that solicitors, financial advisors and banks were the sharks that swim on the surface of society.

[Bosworth]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

May I ask why?

[Arwen Thebard]

Oil price today is around $16.50 and has been slowly rising from the -$40 over the last couple of days , numbers out of the air ( or out of their butts) . It's times like these when i could happily see everyone involved in the stock market , futures , derivatives loaded onto a spaceship and shot off into space hitchhikers guide style.

Just sit back and watch them all squirm Grenfell.

[grenfell]

To bosworth
Douglas Adams shot off the useless 1/3 of the population of the planet Golgafrincham . If you know the story Golgafrincham was eventually destroyed and that useless 1/3 ended up crashing on earth and forming the human race but that's another story. They left behind all the dooers and thinkers , those who were practical and inventive , those who actually had value to the society.
Ok so the comment was tongue in cheek but frankly most of that class of people are largely parasitic to society in any real practical terms. . They don't grow anything , make anything but the stock market holds sway over how much everything is worth. That's worth in terms of money rather than value to society. Take for example a field. It's value is in how much food it can produce but to a hedge fund manager it's worth is in how much it can sell for. One day it may be £100 but the next it may be £1000 but it's value hasn't changed. It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society.

[jansman]

To bosworth
Douglas Adams shot off the useless 1/3 of the population of the planet Golgafrincham . If you know the story Golgafrincham was eventually destroyed and that useless 1/3 ended up crashing on earth and forming the human race but that's another story. They left behind all the dooers and thinkers , those who were practical and inventive , those who actually had value to the society.
Ok so the comment was tongue in cheek but frankly most of that class of people are largely parasitic to society in any real practical terms. . They don't grow anything , make anything but the stock market holds sway over how much everything is worth. That's worth in terms of money rather than value to society. Take for example a field. It's value is in how much food it can produce but to a hedge fund manager it's worth is in how much it can sell for. One day it may be £100 but the next it may be £1000 but it's value hasn't changed. It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society.

You know grenfell, the Adams story is a cracking analogy of our current society. By that I mean here and right-this-minute-now. Our World went to Sh£t a month or so back, the shelves were stripped and the NHS was gearing up for the battle ahead. Everyone except essential workers were locked down. Most of the essential workers; supermarket/ food retail, NHS ancillary staff, care workers, binmen ... you know, are low paid. They have kept our system running, whilst the city bankers, insurance executives ( and they are trying to wriggle out of claims for businesses with cover), financial advisors and generally useless folks will go back to earning? eye- watering sums.

I am not saying that a bin man should earn as much as a doctor, or a supermarket worker as much as a surgeon, but we surely have to recognise the value we have come to realise the lower paid workers have contributed to society? Without them we would have been toast.

Putting it into context, right now my wife and I need a dentist desperately, and we will need to buy food within a day or two. However, we don’t need another pension product!

[omega man]

It's just not rigged like that, and rigged it is ... sadly.
OM

[Bosworth]

To bosworth
Douglas Adams shot off the useless 1/3 of the population of the planet Golgafrincham . If you know the story Golgafrincham was eventually destroyed and that useless 1/3 ended up crashing on earth and forming the human race but that's another story. They left behind all the dooers and thinkers , those who were practical and inventive , those who actually had value to the society.
Ok so the comment was tongue in cheek but frankly most of that class of people are largely parasitic to society in any real practical terms. . They don't grow anything , make anything but the stock market holds sway over how much everything is worth. That's worth in terms of money rather than value to society. Take for example a field. It's value is in how much food it can produce but to a hedge fund manager it's worth is in how much it can sell for. One day it may be £100 but the next it may be £1000 but it's value hasn't changed. It's the whole making obscene fortunes off the back of other people that irritates me while at the same time adding very little positive to society.

Do you have a fixed rate mortgage? Or an energy tariff that has prices guaranteed for a year or two? Or a fixed rate savings account?