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 The Black Death of Financial Collapse

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kasey
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Number of posts : 78
Registration date : 2008-04-01

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PostSubject: The Black Death of Financial Collapse   The Black Death of Financial Collapse Icon_minitimeFri Apr 11, 2008 6:34 pm

Mortgage crisis. Persistently high fuel prices. Consumer confidence hits 26 year low. Global food prices are rocketing. From the UK Guardian:

Quote :
Zoellick said: "In the US and Europe over the last year we have been focusing on the prices of gasoline at the pumps. While many worry about filling their gas tanks, many others around the world are struggling to fill their stomachs. And it's getting more and more difficult every day."

He said the price of wheat had risen by 120% in the past year, more than doubling the cost of a loaf of bread. Rice prices were up by 75% in just two months. On average, the Bank calculates that food prices have risen by 83% in the past three years.

From the Asia Times Online:

Quote :
The financial and economic crisis now upon us is by far the most menacing of the past century...

Quote :
The financial and economic crisis now upon us is by far the most menacing of the past century - even more so than the Great Depression of the 1930s. It is not just a "subprime" crisis; it is systemic - affecting the entire financial system. It is also global, affecting various countries in various ways but affecting them all. In achieving a certain "globalization", we have been uniquely successful in globalizing collapse, chaos and misery. It is a globalization which, in our short-sighted negligence, we never envisaged.
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Justoo
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Number of posts : 3812
Age : 67
Location : Location, Location.
Registration date : 2008-03-25

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PostSubject: Re: The Black Death of Financial Collapse   The Black Death of Financial Collapse Icon_minitimeFri Apr 11, 2008 6:40 pm

Yet no one wishes to mention inflation. It is as if they are afraid to say it.
Food is up.
Transportation is up.
Housing and everything related to housing is up
Anything that gets trucked is up.


But inflation does not exist.
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JustAnotherTourist
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Number of posts : 91
Age : 60
Location : Apparently on the fringe
Registration date : 2008-04-10

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PostSubject: Re: The Black Death of Financial Collapse   The Black Death of Financial Collapse Icon_minitimeSat Apr 12, 2008 12:45 am

A few weeks ago, there was a blurb on the BBC site that food riots were emerging in Europe and even killings over bread in Egypt.

To mention inflation is to admit that all is not well. Things not being well means investor confidence is shaken, confidence shaken means volatile markets, which begets panic.

Then you have cats and dogs living in sin

Seriously, IMHO, the bubble is about to pop. This is sort of like watching a train wreck...in slow motion.
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Serpico
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Number of posts : 45
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PostSubject: Re: The Black Death of Financial Collapse   The Black Death of Financial Collapse Icon_minitimeSun May 11, 2008 6:27 pm

It is true-things are slowly going to hell and I'm afraid that there will be a reckoning. During the last world depression that started in October of 1929, most of the people lived on farms, and although they didn't have much money, they did have something to eat. It was followed by a war that cost the world hundreds of millions of lives. Nowadays, most people live in cities and rely on the few farmers we have to provide for us. I'm not sure what we, as individuals can do about it, but it's looking a little bit omminous. Hopefully, things will turn around. If not...
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PostSubject: Re: The Black Death of Financial Collapse   The Black Death of Financial Collapse Icon_minitime

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