2020 Potential Economic Collapse

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Butterfly
Posts: 7
Joined: Sun May 31, 2020 1:27 pm
Location: Lancashire

Re: 2020 Potential Economic Collapse

Post by Butterfly » Thu Jun 11, 2020 9:21 pm

Thank you very much for the replies and advice 🦋

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Arwen Thebard
Posts: 1091
Joined: Thu Oct 26, 2017 6:31 pm

Re: 2020 Potential Economic Collapse

Post by Arwen Thebard » Mon Jun 15, 2020 8:05 am

Unusually this morning almost EVERYTHING is tanking at the same time. It may be different later on today, but at the moment all markets (Asia, Europe and US pre-markets) are heavily in the red. So are gold, silver, other metals, oil, gas and cryptos, livestock and agricultural futures are also ALL down. :? :? :? The pound GBP and Euro are both up against the dollar and interest rate futures are rising. And the usually safe Bonds market is in the red as well, so where is left to invest?

Has investor confidence finally gone?

Hold onto your hats folks, It's going to be an interesting week.
Arwen The Bard

"What did you learn today?"

jansman
Posts: 8198
Joined: Thu Dec 30, 2010 7:16 pm

Re: 2020 Potential Economic Collapse

Post by jansman » Mon Jun 15, 2020 3:00 pm

Arwen Thebard wrote:
Mon Jun 15, 2020 8:05 am
Unusually this morning almost EVERYTHING is tanking at the same time. It may be different later on today, but at the moment all markets (Asia, Europe and US pre-markets) are heavily in the red. So are gold, silver, other metals, oil, gas and cryptos, livestock and agricultural futures are also ALL down. :? :? :? The pound GBP and Euro are both up against the dollar and interest rate futures are rising. And the usually safe Bonds market is in the red as well, so where is left to invest?

Has investor confidence finally gone?

Hold onto your hats folks, It's going to be an interesting week.
You asked for links on another thread Arwen,so I'll put this one here,as its more relevant.So,just to cheer everyone up,for what it is worth:

https://consciousnessofsheep.co.uk/2020 ... beginning/
In three words I can sum up everything I have learned about life: It goes on.

Robert Frost.

Covid 19: After that level of weirdness ,any situation is certainly possible.

Me.

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Arwen Thebard
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Joined: Thu Oct 26, 2017 6:31 pm

Re: 2020 Potential Economic Collapse

Post by Arwen Thebard » Mon Jun 15, 2020 7:22 pm

A good article that Jansman.

Did you read the one in the environment section titled "Is this sustainable?" which made an equally good read on economic issues, despite being listed where it was.
https://consciousnessofsheep.co.uk/2020 ... stainable/
Arwen The Bard

"What did you learn today?"

jansman
Posts: 8198
Joined: Thu Dec 30, 2010 7:16 pm

Re: 2020 Potential Economic Collapse

Post by jansman » Mon Jun 15, 2020 7:38 pm

Arwen Thebard wrote:
Mon Jun 15, 2020 7:22 pm
A good article that Jansman.

Did you read the one in the environment section titled "Is this sustainable?" which made an equally good read on economic issues, despite being listed where it was.
https://consciousnessofsheep.co.uk/2020 ... stainable/
Yes.I read them all.It ain't good.
In three words I can sum up everything I have learned about life: It goes on.

Robert Frost.

Covid 19: After that level of weirdness ,any situation is certainly possible.

Me.

Stonecarver
Posts: 380
Joined: Tue Aug 15, 2017 4:32 pm
Location: Eastern Scotland

Re: 2020 Potential Economic Collapse

Post by Stonecarver » Mon Jun 15, 2020 8:58 pm

''There is some hope that as job losses begin to hit middle class white collar professionals the wider impact will be dampened because they can fall back on savings"
This is line that stuck with me considering that every central bank in the word has discouraged saving by slashing interest rates over and over
One sure sign of the decline of a civilisation is the inability to reproduce the technological achievments of its past

jansman
Posts: 8198
Joined: Thu Dec 30, 2010 7:16 pm

Re: 2020 Potential Economic Collapse

Post by jansman » Tue Jun 16, 2020 3:59 am

Stonecarver wrote:
Mon Jun 15, 2020 8:58 pm
''There is some hope that as job losses begin to hit middle class white collar professionals the wider impact will be dampened because they can fall back on savings"
This is line that stuck with me considering that every central bank in the word has discouraged saving by slashing interest rates over and over
So very true.
In three words I can sum up everything I have learned about life: It goes on.

Robert Frost.

Covid 19: After that level of weirdness ,any situation is certainly possible.

Me.

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Arwen Thebard
Posts: 1091
Joined: Thu Oct 26, 2017 6:31 pm

Re: 2020 Potential Economic Collapse

Post by Arwen Thebard » Tue Jun 16, 2020 8:48 am

Stonecarver wrote:
Mon Jun 15, 2020 8:58 pm
''There is some hope that as job losses begin to hit middle class white collar professionals the wider impact will be dampened because they can fall back on savings"
This is line that stuck with me considering that every central bank in the word has discouraged saving by slashing interest rates over and over
Until those savings are gone.

Feels like they are shaking the last few apples from the tree.
Arwen The Bard

"What did you learn today?"

Ysverine
Posts: 14
Joined: Wed Aug 21, 2019 3:33 pm
Location: South Wales

Re: 2020 Potential Economic Collapse

Post by Ysverine » Tue Jun 16, 2020 12:14 pm

Forgive me for hijacking with a dumb question, but I'm not the most financially literate person ever and reading back through the last few pages has made my head spin a bit. :shock: Is the current thinking that we should be working in cash rather than having money locked away in the banks, and if so how does that reconcile with a lot of places refusing to work with cash given the Covid situation?

ForgeCorvus
Posts: 2358
Joined: Fri Feb 08, 2013 11:32 pm

Re: 2020 Potential Economic Collapse

Post by ForgeCorvus » Tue Jun 16, 2020 2:39 pm

Have an account and use the linked card for purchases and DD for regular bills.
Keep a stash of cash to cover any banking issues (some people put a number on it, others just have a few months worth of 'running costs').
Have a second wad of cash for buying the more obvious survival-prepperist gear..... Because there are watchlists :tinfoil
If you decide to hold PM's (Precious Metals) for whatever reason, remember that these are not immediately available for use

If you do keep a lot of cash at home (or PM's), be ready to prove how you came by it or it could be taken off you under anti-money laundering and proceeds of crime legislation.
jennyjj01 wrote:"I'm not in the least bit worried because I'm prepared: Are you?"
Londonpreppy wrote: At its core all prepping is, is making sure you're not down to your last sheet of loo roll when you really need a poo.
"All Things Strive" Gd Tak 'Gar

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