It’s different this time

Crashy_Time

RelievedSheff said:

And back in the real world, life carries on, people continue to go about their business and just get on with life without worrying about a glorified common cold.

https://uk.reuters.com/article/us-health-coronavirus-italy/italy-in-coronavirus-lockdown-as-deaths-soar-and-economy-fades-idUKKBN20X11D

silvertooth

Malthusian said:

Has Deutsche Bank collapsed yet? What happened to all that?

Good questions 

the answer is DB are a zombie bank yes they are dead but it can’t be announced because they are too big to fail which means the global system will collapse if the truth gets out

but the global system is inevitable to collapse soon anyway 

Thrugelmir

lisyloo said:

Thrugelmir said:

dinsdale_ said:

Just to clarify, what does it mean for the 'debt based system' to break?
I can see some companies going out of business and job losses, are you suggesting some kind of foundation change to how the financial system operates? 
Could you be more specific?

I would argue at worst there could be recession before the markets pick up again...

We live in a world of debt. Where many people and companies live life on a thread. Only a matter of week of weeks from financial meltdown. Low interest rates have induced complacency. Nanny state will provide all the answers. 

If its relatively short term (china has turned things around), then isn't the most likely scenario that people will take payment holidays and their debt will increases but not to a point that it's a big deal over 25 years.

Some of us may have to work 12 months longer due to our pension investments not being as good as we expect. Not great if you hate your job but not a massive deal in the scheme of  a 35 year retirement.

Landlords will also not pay their mortgages if they don't get rent and might need to lengthen their term.

Isn't this a more likely scenrio than the end of civilisation as we know it?

Ever lived through a real recession?
How financially secure is your employer?

lisyloo

Wot no delete?

Sailtheworld

Thrugelmir said:

lisyloo said:

Thrugelmir said:

dinsdale_ said:

Just to clarify, what does it mean for the 'debt based system' to break?
I can see some companies going out of business and job losses, are you suggesting some kind of foundation change to how the financial system operates? 
Could you be more specific?

I would argue at worst there could be recession before the markets pick up again...

We live in a world of debt. Where many people and companies live life on a thread. Only a matter of week of weeks from financial meltdown. Low interest rates have induced complacency. Nanny state will provide all the answers. 

If its relatively short term (china has turned things around), then isn't the most likely scenario that people will take payment holidays and their debt will increases but not to a point that it's a big deal over 25 years.

Some of us may have to work 12 months longer due to our pension investments not being as good as we expect. Not great if you hate your job but not a massive deal in the scheme of  a 35 year retirement.

Landlords will also not pay their mortgages if they don't get rent and might need to lengthen their term.

Isn't this a more likely scenrio than the end of civilisation as we know it?

Ever lived through a real recession?
How financially secure is your employer?

Anyone over the age of 12 lived through the GFC and the, ongoing, after effects - does that count as 'real'? Of course a lot of these people are more worried about whether they're getting tuck money rather than the financial security of their employer.

RelievedSheff

Crashy_Time said:

RelievedSheff said:

And back in the real world, life carries on, people continue to go about their business and just get on with life without worrying about a glorified common cold.

https://uk.reuters.com/article/us-health-coronavirus-italy/italy-in-coronavirus-lockdown-as-deaths-soar-and-economy-fades-idUKKBN20X11D

You may not have noticed this but we live in the UK not Italy!!

Mickey666

Doom and gloom is all very well but if there are no proposed solutions what's the point?  Social media and 24/7 rolling news really doesn't do us any favours.

Keep calm and carry on!

Sailtheworld

Mickey666 said:

Doom and gloom is all very well but if there are no proposed solutions what's the point?  Social media and 24/7 rolling news really doesn't do us any favours.

Keep calm and carry on!

There is a point in trying to slow the spread. The UK peak will be in a week or so and if the spread can be slowed then that peak can be flattened. It'll spread the demand for healthcare across a longer period. The best time to get Coronavirus (if you're going to need hospital care) is before or after the peak. If you're elderly and/or immuno-compromised the very worse time to require acute treatment will be the peak.

lisyloo

Slowing the spread also moves us into warmer weather where the virus may not do so well, also gives time to get the health service better prepared e.g. get some staff out of retirement (I’m on about the recently retired not those in in their 70s and 80s)

Thrugelmir

Sailtheworld said:

Thrugelmir said:

lisyloo said:

Thrugelmir said:

dinsdale_ said:

Just to clarify, what does it mean for the 'debt based system' to break?
I can see some companies going out of business and job losses, are you suggesting some kind of foundation change to how the financial system operates? 
Could you be more specific?

I would argue at worst there could be recession before the markets pick up again...

We live in a world of debt. Where many people and companies live life on a thread. Only a matter of week of weeks from financial meltdown. Low interest rates have induced complacency. Nanny state will provide all the answers. 

If its relatively short term (china has turned things around), then isn't the most likely scenario that people will take payment holidays and their debt will increases but not to a point that it's a big deal over 25 years.

Some of us may have to work 12 months longer due to our pension investments not being as good as we expect. Not great if you hate your job but not a massive deal in the scheme of  a 35 year retirement.

Landlords will also not pay their mortgages if they don't get rent and might need to lengthen their term.

Isn't this a more likely scenrio than the end of civilisation as we know it?

Ever lived through a real recession?
How financially secure is your employer?

Anyone over the age of 12 lived through the GFC and the, ongoing, after effects - does that count as 'real'? Of course a lot of these people are more worried about whether they're getting tuck money rather than the financial security of their employer.

Most people hardly noticed what was occurring during the GFC as primarily hit those terrible people called bankers.