Global Debt Time Bomb explodes soon

Topics in this category pertain to planning. Discussions include how to prepare yourself, your family and your community for catastrophes and what you plan to do when they hit you.

Moderator: ZS Global Moderators

User avatar
teotwaki
ZS Member
ZS Member
Posts: 4293
Joined: Sun Apr 05, 2009 11:58 pm
Contact:

Re: Global Debt Time Bomb explodes soon

Post by teotwaki » Tue Oct 02, 2018 12:34 pm

Thanks! Although the "bomb" has yet to explode this thread serves to keeps us alert to developments that we might otherwise miss.
My adventures and pictures are on my blog http://suntothenorth.blogspot.com

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Thu Oct 04, 2018 10:50 pm

From Marketplace: Could a cyberattack cause the next financial crisis?
The big banks are seeing an increase in cyberthreats, and these attacks are only becoming more sophisticated.

Hackers are capable of stealing vast amounts of cash and notably siphoned $81 million from Bangladesh Bank in 2016 through SWIFT, a global network that thousands of institutions around the world use to communicate and move money. The bank ended up blaming the Federal Reserve Bank of New York for allowing the money transfers to go through.

The prospect of a cyberattack is keeping bank CEOs, like JPMorgan Chase’s Jamie Dimon, up at night.

Dimon recently spoke to Marketplace host Kai Ryssdal about being the last CEO standing from the 2007-08 financial crisis and the challenges our financial system might have to face the next time around.
I have listened to Marketplace for over a decade. Mostly on, sometimes spot-on. :D

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Fri Oct 05, 2018 6:35 am

In 2007 Bill Gates warned us that the internet would become too vulnerable over time in it's current configuration to conduct commerce on. He predicted 10-15 years we would see either a radical redesign or the freezing of commerce due to hacking attacks. There hasn't been much on redesign so....
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Wed Oct 10, 2018 3:20 pm

Dow drops 800 points This is nothin'.

absinthe beginner
* * * * *
Posts: 1059
Joined: Sun Jan 05, 2014 11:05 am
Favorite Zombie Movies: Shawn of the Dead
Location: Colorado

Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Wed Oct 10, 2018 5:17 pm



User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Wed Oct 10, 2018 7:43 pm

Sounds like a solid opinion on interest rate hikes has been given. That and a little correction was due.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Wed Oct 10, 2018 9:18 pm

Asia stocks falter; Shanghai, Hong Kong, Tokyo all down more than 2%
Nikkei down almost 4% at the time of this post.

absinthe beginner
* * * * *
Posts: 1059
Joined: Sun Jan 05, 2014 11:05 am
Favorite Zombie Movies: Shawn of the Dead
Location: Colorado

Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Thu Oct 11, 2018 3:38 am

Asian markets are cratering this morning. Is this the end of the biggest stock bubble in human history?

https://www.zerohedge.com/news/2018-10- ... on-carnage

o "National Team"... No "Plunge Protection Team"... No RRR Cuts... and not a word from Powell. The US equity market massacre is extending overnight as the liquidation crisis smashes into Asia...

The initial red box is the after-hours drop and the second drop is as Asian cash markets opened... (Nasdaq is now down over 6%)

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Thu Oct 11, 2018 9:14 am

Nope, NASDAQ up a point DOW steady. End of days will be another day.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother


absinthe beginner
* * * * *
Posts: 1059
Joined: Sun Jan 05, 2014 11:05 am
Favorite Zombie Movies: Shawn of the Dead
Location: Colorado

Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Sat Oct 13, 2018 9:40 am

Has "it" finally arrived?

https://www.peakprosperity.com/blog/114 ... ly-arrived

Sanford and Son: "This is the Big One."

https://www.youtube.com/watch?v=stdi-1tIUhM

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Sat Oct 13, 2018 3:02 pm

Has "it" finally arrived?
On Friday the DOW was up over a point and the NASDAQ was up well over 2 points. Like I said overdue correction was overdue. Rising interest rates market no likey.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

User avatar
woodsghost
* * * * *
Posts: 2890
Joined: Thu May 16, 2013 3:45 pm

Re: Global Debt Time Bomb explodes soon

Post by woodsghost » Sat Oct 13, 2018 3:24 pm

I think the market is ok with these recent movements. Trump said roughly last December "look, the market is up a bunch over when [Trump] took office, we can afford to lose a few points and we are still ahead." Which I think is basically correct. He was talking about taking on trade with China, but I think his logic is sound. Not pleasant to hear, but I think his logic is basically sound.

Further, what if the market tanks today? Really goes all 1927 on us? What is that really going to do? For me, it means my family and I will have to adjust some things and probably move in with one set of parents for a time while a new career, probably in ditch digging, is started and built.

I think it is important to monitor these ups and downs, but be mentally flexible enough to adjust and adapt and do whatever is necessary to keep on trucking if something really goes South. I think it is important to accept the world as it is, rather than letting fear of the world "as it could be" consume us. And yes, we could wake up tomorrow with a crazy crashed economy. That is a reality every day. It has been for a long time. Based on the book "Deep Survival" I think we have a choice, to accept or to fight reality, and survivors accept reality. Even if it sucks and they don't like it. So again, I think monitoring this stuff is important, but should not consume us.

I"m not calling anyone out or anything. I just think we all read the stuff here and it hits some of us pretty hard. I think there are some important things to keep in mind to help keep it all in perspective.

Also, my wife says it is stupid to worry about all this because the aliens will come and make slaves of us all before the economy crashes anyway. Get ready for probing by your new overlords.

I love my wife. :awesome:
*Remember: I'm just a guy on the internet :)
*Don't go to stupid places with stupid people & do stupid things.
*Be courteous. Look normal. Be in bed by 10'clock.

“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” -Bilbo Baggins.

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Sat Oct 13, 2018 6:03 pm

Also, my wife says it is stupid to worry about all this because the aliens will come and make slaves of us all before the economy crashes anyway. Get ready for probing by your new overlords.

Sounds like she has a good grasp on things.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Mon Oct 15, 2018 3:46 pm

From CNBC: US budget deficit expands to $779 billion in fiscal 2018 as spending surges

From CNBC: Why the market is suddenly concerned Saudi Arabia will weaponize oil in Khashoggi dispute

I can barely remember the 73 oil crisis. It was not a good time. I remember 79 more so. Also not fun. That said, global energy is different now, so I'm not worried about a repeat. SA still commands a respectable chuck of the crude market, so I'm not saying nothing will/could/might hsppen.

But things are different now. YMMV. KYPD.

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Tue Oct 16, 2018 11:30 am

From Bloomberg: The Bad and Less Bad News About Italy's New Budget

There are a number of stories on Bloomberg about large/massive debt levels, all over the world. :(

MPMalloy
ZS Member
ZS Member
Posts: 3851
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Fri Oct 19, 2018 8:55 am

Today in 1987: Black Monday: Stock markets around the world crash. The New York Stock Exchange loses more than 22 per cent of its value in a matter of hours.

absinthe beginner
* * * * *
Posts: 1059
Joined: Sun Jan 05, 2014 11:05 am
Favorite Zombie Movies: Shawn of the Dead
Location: Colorado

Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Fri Oct 19, 2018 1:42 pm

https://www.scmp.com/comment/insight-op ... -there-are

Saudi crisis, trade war, rising interest rates – there are plenty of fault lines in global markets but no catastrophe … yet

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Fri Oct 19, 2018 5:39 pm

absinthe beginner wrote:
Fri Oct 19, 2018 1:42 pm
https://www.scmp.com/comment/insight-op ... -there-are

Saudi crisis, trade war, rising interest rates – there are plenty of fault lines in global markets but no catastrophe … yet
Two of the largest fronts in the trade war have been settled. The big one is still China. China did not realize when they decided to fight that they could not win. I think they have figured that out by now but what to do next will wait till after the election.

Raising interest rates is keeping the economy in check and from overheating. This has created an entertaining "unpossible" scenario of tighter money in a rapidly growing economy. The growth of course is coming from the energy sector and (because of the trade war) the manufacturing sector. I can't say I have seen the economy doing better in the last 35 except during the dot.com bubble build up. The energy sector will continue to enjoy lots of real growth. If the trade wars continues for any length of time the manufacturing sector will go nuts.

Real unemployment is almost non-existent. There is a whole large industry now built around providing fake pee samples and delivery systems to get the drug addicted chronically unemployed working. If the guy selling you gas or making your burger looks high, he probably is.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

User avatar
woodsghost
* * * * *
Posts: 2890
Joined: Thu May 16, 2013 3:45 pm

Re: Global Debt Time Bomb explodes soon

Post by woodsghost » Sat Oct 20, 2018 9:27 am

Stercutus wrote:
Fri Oct 19, 2018 5:39 pm


Real unemployment is almost non-existent. There is a whole large industry now built around providing fake pee samples and delivery systems to get the drug addicted chronically unemployed working. If the guy selling you gas or making your burger looks high, he probably is.
The folks at the drug lab have all sorts of stories. 1) A black guy comes in, steps up to bat, and whips out a white fleshy member. He is confronted and insists and insists it really is him and that it is real. The tech, who was also black, was fairly sure that is not how it works and eventually got him sorted out. 2) A few weeks ago a white dude comes strutting in. He steps up to bat and what he whips out, no white man has ever before brandished. Dark as midnight. The tech, this time a white guy, is new and trying to figure out how to handle things. Being a former Marine he gets it figured out and gets this guy to use the proper equipment.

The world of clean pee is amazing.

Another story: 3) a guy gets busted for dirty pee. He insisted that is not possible. Yes, he had been using, but he had obtained clean pee. Further questioning and investigation revealed the person he was getting pee from was using. :lol:

It is a fun world we live in :mrgreen:
*Remember: I'm just a guy on the internet :)
*Don't go to stupid places with stupid people & do stupid things.
*Be courteous. Look normal. Be in bed by 10'clock.

“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” -Bilbo Baggins.

absinthe beginner
* * * * *
Posts: 1059
Joined: Sun Jan 05, 2014 11:05 am
Favorite Zombie Movies: Shawn of the Dead
Location: Colorado

Re: Global Debt Time Bomb explodes soon

Post by absinthe beginner » Tue Oct 23, 2018 8:06 am

And so it begins...or is this just another bear trap cleverly set up by the insiders to reap the short-sellers yet again?

https://www.zerohedge.com/news/2018-10- ... inese-rout

User avatar
teotwaki
ZS Member
ZS Member
Posts: 4293
Joined: Sun Apr 05, 2009 11:58 pm
Contact:

Re: Global Debt Time Bomb explodes soon

Post by teotwaki » Tue Oct 23, 2018 11:01 am

absinthe beginner wrote:
Tue Oct 23, 2018 8:06 am
And so it begins...or is this just another bear trap cleverly set up by the insiders to reap the short-sellers yet again?

https://www.zerohedge.com/news/2018-10- ... inese-rout
dead cat bounce? LOL

Image
My adventures and pictures are on my blog http://suntothenorth.blogspot.com

User avatar
Stercutus
* * * * *
Posts: 12453
Joined: Wed Feb 10, 2010 8:16 pm
Location: Bouncing in to Graceland

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Tue Oct 23, 2018 12:32 pm

absinthe beginner wrote:
Tue Oct 23, 2018 8:06 am
And so it begins...or is this just another bear trap cleverly set up by the insiders to reap the short-sellers yet again?

https://www.zerohedge.com/news/2018-10- ... inese-rout
Currently some of the Chinese are being punished. Their list of capital sins are many. Anyone hip deep in with them is getting flayed a little as well.

Are we going to get these cries of wolf every time the market drops 0.8%? I mean, I know Zero Hedge is getting starved the last couple of years but geez.
From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother

Post Reply

Return to “Contingency Planning & Preparation”