Next financial crisis 'has begun and will be worse than 2008 crash

Was a film recommended on here a couple of weeks ago about the lads that spotted and gambled on the 2008 crash . Spotlight it was called.. at the end credits it said that lessons hadn't been learnt and the same thing could be expected to happen.

No idea whether it is or not but having watched that I wouldn't be surprised if greed had once again taken over and the global economy crashes again..

Hopefully not!!
 


gegsongegsonlegs said:
Was a film recommended on here a couple of weeks ago about the lads that spotted and gambled on the 2008 crash . Spotlight it was called.. at the end credits it said that lessons hadn't been learnt and the same thing could be expected to happen.

No idea whether it is or not but having watched that I wouldn't be surprised if greed had once again taken over and the global economy crashes again..

Hopefully not!!
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Human greed has not changed. It never will.

Regulations however have. As I've been saying for years thr next crisis will cripple pensions. Central banks have fucked annuities..
 
Surely if you could predict that kind of thing, you'd just keep schtum and make a mint out of it. Well, like Soros, I suppose.
 
It's not hard to predict. The one graph on this link sums it up

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Since 2003 Global debt has tripled.

And yet we still have a Keynesian economy built on boom and bust. Been that was for 2 century's in modern capitalism.

When the next inevitable depression cycle comes everything is so over leveraged and debted it's a pack of cards.

You can't simply continue to allow debt levels to increase faster then GDP. It's f***ing inevitable that if you do there will become a time when that debt can't be even serviced let alone repaid.
 
I’m not convinced that the new rules to prevent another 2008 will work. The ring fence rules are too complicated. The equity rules are too complicated. Complication allows gaming. There are still huge banks “too big to fail”. The new ‘living wills’ rules won’t do anything to help in the event they do. Then there’s shadow banking which remains much as it was in 2008.
 
monkeytassle said:
Human greed has not changed. It never will.

Regulations however have. As I've been saying for years thr next crisis will cripple pensions. Central banks have fucked annuities..
Click to expand...

To be honest mate it's way beyond me.. understood the film but that's about as far as my knowledge goes..

I agree about the pensions mind.
 
gegsongegsonlegs said:
Was a film recommended on here a couple of weeks ago about the lads that spotted and gambled on the 2008 crash . Spotlight it was called.. at the end credits it said that lessons hadn't been learnt and the same thing could be expected to happen.

No idea whether it is or not but having watched that I wouldn't be surprised if greed had once again taken over and the global economy crashes again..

Hopefully not!!
Click to expand...
There was another with Steve Carrell, called the big short. It was similar but mainly about the mortgage bundles and how they were wrapping them up as A+ credit risks. Then how they were covering up the shit until it popped so badly the government had to bail them out. At the end of the film it says the bloke who raised the issue about the corruption has been audited none stop since.

The biggest worry (imo) is that the people today will still fully remember the shit show of 2008. So they will line their own pockets earlier and try and avoid the crash as much as possible. Like a stand off of who will blink first
 
janiep said:
I’m not convinced that the new rules to prevent another 2008 will work. The ring fence rules are too complicated. The equity rules are too complicated. Complication allows gaming. There are still huge banks “too big to fail”. The new ‘living wills’ rules won’t do anything to help in the event they do. Then there’s shadow banking which remains much as it was in 2008.
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Don’t forget, ringfencing only applies in the U.K. too.
 
safcforever said:
There was another with Steve Carrell, called the big short. It was similar but mainly about the mortgage bundles and how they were wrapping them up as A+ credit risks. Then how they were covering up the shit until it popped so badly the government had to bail them out. At the end of the film it says the bloke who raised the issue about the corruption has been audited none stop since.

The biggest worry (imo) is that the people today will still fully remember the shit show of 2008. So they will line their own pockets earlier and try and avoid the crash as much as possible. Like a stand off of who will blink first
Click to expand...


My mistake mate that was the film I meant.. watched a few while I've been off work... lost track..

Not spotlight :oops:

Stevie Freestein II said:
I hope that my pension will be ok then.

From my understanding our scheme invests a lot in commercial property and equities. Not so much fixed interest products.
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Mine is a company pension mate and although I've no understanding on how it works in the last 10 years it's halved.. both lumper and annually.

And I have to work 5 year longer for the privilege.. mind it seems a lot of big pension schemes have taken a similar hit..
 
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gegsongegsonlegs said:
My mistake mate that was the film I meant.. watched a few while I've been off work... lost track..

Not spotlight :oops:



Mine is a company pension mate and although I've no understanding on how it works in the last 10 years it's halved.. both lumper and annually.

And I have to work 5 year longer for the privilege.. mind it seems a lot of big pension schemes have taken a similar hit..
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How much are you putting in? Because the state pension won't exist when i retire imo
 
it will be interesting to see what happens to the markets when the next recession comes with the rise of passive investing since 2008. i think the fall wont be as dramatic as 2008 but there will be plenty of opportunity out there for brave/smart investors
 
steve30000 said:
How much are you putting in? Because the state pension won't exist when i retire imo
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I think it's £160 ish per month matched by the company .. had considered avc's but don't see the point now. It's just been reviewed again and I'm not expecting to be any better off as an outcome..

I've got 24 years left to work, I reckon in 24 years my lump some might get me a decent deposit on a nice car or a very good holiday.. however my annual will mean if no state pension I'm going to struggle..

Hitting pensions the way they have, is a bit short sighted. In 20/30 or even 40 years time , with cost of living rises and reduced pension incomes then I can see a lot of people( pensioners) really struggle. Who helps them out?? I think long term the whole pension fuck up could cost the country on a massive scale for generations...

No expert but that's the way I see it.
 
gegsongegsonlegs said:
I think it's £160 ish per month matched by the company .. had considered avc's but don't see the point now. It's just been reviewed again and I'm not expecting to be any better off as an outcome..

I've got 24 years left to work, I reckon in 24 years my lump some might get me a decent deposit on a nice car or a very good holiday.. however my annual will mean if no state pension I'm going to struggle..

Hitting pensions the way they have, is a bit short sighted. In 20/30 or even 40 years time , with cost of living rises and reduced pension incomes then I can see a lot of people( pensioners) really struggle. Who helps them out?? I think long term the whole pension fuck up could cost the country on a massive scale for generations...

No expert but that's the way I see it.
Click to expand...
No one will. We'll be on our own.

Work till we die.
 

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