The End is Nigh!

[Marty_d]

34 minutes ago, facthunter said:

The Instinct to survive is PRIMAL. That Bloke wasn't Vlad Putin was he? Nev

No, I've never worked with poo tin.

Which is good because I don't have to be afraid of windows.

[facthunter]

+ stairs and Poisons and Gaols and hospitals. Nev

[nomadpete]

Speaking of which, our mate Poo hasn't been in the news lately. Could his end be nigh?

[onetrack]

We can only hope.

[facthunter]

The stuff that Pops up in front of Me still features him frequently. Nev

[nomadpete]

2 hours ago, facthunter said:

The stuff that Pops up in front of Me still features him frequently. Nev

Aha!

 

So, google is ono ya!

 

This man is clearly a Roosian commonist spy!

[facthunter]

Google doesn't pop up I have to select it.  SKY does but I only gloss over it to see if it's STILL RUBBISH occasionally. If anything it's getting WORSE. Nev

[nomadpete]

8 hours ago, facthunter said:

Google doesn't pop up I have to select it.

Google doesn't need you to select it. They are quietly scraping your every click, or view.

Thats how they can target you with information that entertains your interests. Or target you with echo chamber reinforcement.

[old man emu]

Getting back to the original theme of this thread, we are facing a total collapse of our global civilisation simply due to the imminent collapse of the financial system. At the moment the global financial system is backed by a sort of promisory note called a Derivative.

 

Jerry will correct me if I am misunderstanding what a derivative is used for. Basically money is loaned on a promise to repay it. The lender holds the record of the promise, but can use it to borrow money from a third party. The third party can then use the second party's promise to borrow from a fourth party. The problem arises if the first borrower fails to pay back the original loan. Then the original lender, who has become a borrower, cannot pay back what was borrowed from the third party, who can't pay back the fourth. The arrangement collapses. It has been estimated that currently the amount of money involved in these promises amounts to 600 trillion dollars - more money than actually exists in the global economy.

 

And who thought up this wonderful financial scheme? Pretty sure you would fing the brilliant minds if you walked along Wall Street.

[nomadpete]

I confess to being completely illiterate when it comes to economics.

 

Are you likening the world economy to a pyramid scam - which, like all pyramid scams, is destined to implode after a few get ridicularly wealthy from it?

 

 

 

[pmccarthy]

1893, the year the banks went broke, that’s how it happened.

[nomadpete]

Well, speaking as a minnow in a big school of fish, I do not see any practical way to protect myself from this particular armaggeddon.

 

If only I was a $billionaire....

 

 

 

 

[old man emu]

5 minutes ago, nomadpete said:

Are you likening the world economy to a pyramid scam

More like a Ponzi Scheme. A Ponzi scheme is a type of fraudulent investment scam that uses funds from new investors to pay returns to earlier investors, rather than generating profits from legitimate business activities. The scheme's collapse is inevitable because it relies on a continuous, unsustainable flow of new money, eventually leading to the system running out of funds.

[nomadpete]

Just now, old man emu said:

More like a Ponzi Scheme.

That's how I view the desire for eternal economic growth. 

 

Sort of borrowing from the future, to pay for the past.

 

But again, I see no way to protect myself from a POSSIBLE collapse of the economy.

 

There are many many possible disasters.

 

Therefore, beyond being aware of it, there is no point losing sleep about it.