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  The NY Debt Clock countdown to next...
Posted by: Charon - 6 hours ago - Forum: World News - Replies (3)

BUSINESS
Next crash will be ‘worse than the Great Depression’: experts
By John Aidan Byrne September 22, 2018 | 8:29pm

   


The National Debt Clock in New York City.
U.S. DEBT
US student debt might lead to the next financial crisis
China has the ultimate weapon in trade war with US
How GOP tax cuts may hurt the US down the line
Russia sold most of its US government securities around Helsinki summit
Ten years ago, it was too-easy credit that brought financial markets to their knees. Today, it could be a global debt of $247 trillion that causes the next crash.

After a decade of escalating US household debt brought on by low wages and the national debt more than doubling over the same time frame, to $21 trillion, debt could soon put the brakes on this economic recovery, analysts warn.

“We think the major economies are on the cusp of this turning into the worst recession we have seen in 10 years,” said Murray Gunn, head of global research at Elliott Wave International.

And in a note, he added: “Should the [US] economy start to shrink, and our analysis suggests that it will, the high nominal levels of debt will instantly become a very big issue.”

The economic stats:

US household debt of $13.3 trillion now exceeds the 2008 peak. That’s due in part to mortgage lending, which is hovering near its decade-ago level of $9 trillion-plus.
Student loans outstanding have skyrocketed from $611 billion in 2008 to around $1.5 trillion today.
Auto loans, at nearly $1.25 trillion, have exceeded the 2008 total, while credit card balances are just as high now as before the Great Recession.
Meanwhile, global debt — a result of central bankers flooding economies with cheap money to lift them out of an funk — is now $247 trillion, up from $177 trillion in 2008. That is close to 2 ¹/₂ times the size of the global economy.
“We won’t be able to call it a recession, it’s going to be worse than the Great Depression,” said economic commentator Peter Schiff, forecasting a major economic downturn as early as the tail end of the Trump presidency’s first term. “The US economy is in so much worse shape than it was a decade ago.”

Economic theorists say insurmountable debt is the big kahuna. The huge sums today certainly fed the boom times. But since it must eventually be repaid, the tipping point will come when a wave of defaults by overwhelmed borrowers — potentially squeezed by rising interest rates — leads to a widespread reduction in spending and incomes, economists explain.

Although Schiff has gotten some calls wrong in the past — he incorrectly predicted the US Federal Reserve would fail in its roundabout quantitative easing campaign to “reflate” housing and stocks in the wake of the financial crisis — he is convinced he is right on the money this time.

“I think we are going to have a dollar crisis — you think the Turkish lira looks bad now, wait till you see when the dollar is imploding and we have a sovereign debt crisis in the US,” he told The Post. “The US government is going to be given a choice between defaulting on the debt, or else massive runaway inflation.”

Earlier this year, Goldman Sachs said the fiscal outlook for the US was “not good,” and could threaten the nation’s economic security during the next recession.

Schiff dismisses the latest batch of positive indicators, including the lowest unemployment rate in a generation, soaring business confidence spurred by President Trump’s tax cuts and the Dow hitting record highs. “Obviously, there is a whole lot of optimism — but there is a very good chance the US economy is in recession within the next two years. This is already the second-longest economic expansion in history,” Schiff said, adding that recent dips in new housing starts and auto sales may be red flags.

Gunn sees a brutal deflationary spiral ahead in the next downturn.

“People will look to central banks to help them out, but the authorities will be found wanting,” Gunn warned.

“Our prediction is that central banks will go from being feted for ‘saving the world’ in 2008 to being vilified for being impotent in the coming deflationary crash.”

FILED UNDER DEBT ,  GREAT DEPRESSION ,  INTEREST RATES ,  RECESSION ,  U.S. DEBT


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  Hello
Posted by: pinkflower - Yesterday, 04:38 AM - Forum: Welcome - Replies (5)

Hello,

Thank you for allowing me to join this forum.  Heart

Just a short introduction. I'm a woman. I suffer from anxiety to the extent that it affects my whole life. I used to be prescribed a particular med which I found very helpful, but I am no longer prescribed it. I hope to eventually find a reliable online source for it. I'm going to be patient and not try and rush things though.

Oh and I love cats, flowers, reading and sunshine.  Smile

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  (UK Only) Sample Identification Service
Posted by: quickfix - Yesterday, 01:12 AM - Forum: UK & Rest Of The Europe Reviews & Feedback - No Replies

This maybe useful

hxxp://wedinos dot org

(can't hot link sorry)

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  Selegiline
Posted by: nick222 - 09-22-2018, 01:50 PM - Forum: Who's Got It - No Replies

Looking specifically for transdermal or generic for EMSAM patches

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  Vendors
Posted by: jshields - 09-21-2018, 06:02 PM - Forum: Suggest IOP's - Replies (6)

Do we have to have 50 or 150 posts to suggest email vendors?

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  Salty
Posted by: Salty - 09-18-2018, 11:41 PM - Forum: Welcome - Replies (10)

Hi! I'm a 58 year old guy that's always struggled with anxiety and depression. It's been a life long battle exacerbated by chronic back pain that I can no longer get relief as a result of the opioid hysteria. I know there's a lot of abuse, but forcing people with chronic pain issues to try to talk it out of their minds or use stretching exercises to alleviate it is ridiculous. They obviously have no understanding how that kind of medical condition can completely change someone's quality of life. But it was nice to see the site and I look forward to getting to the point where I may be able to get real solutions.

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  Androgel
Posted by: kkaschke - 09-18-2018, 09:15 PM - Forum: Who's Got It - Replies (6)

I searched the forum and couldn’t find any posts on this. Anyone have a source for Androgel?

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  Hi, I'm Back
Posted by: fishfarmer - 09-18-2018, 04:06 PM - Forum: Welcome - Replies (4)

Can't believe it took almost two weeks to schedule an appointment to get back on-line as I bought a house across town, 6 blocks in this little town. No more rent, Hooray! Good to be back, FF

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  HI
Posted by: jshields - 09-18-2018, 02:04 PM - Forum: Welcome - Replies (9)

Hey everyone.  jshields here.  Hope to find help as well as help others.  Thanks for having me!

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  Google Is Not Our Friend, Here Is Proof.
Posted by: Linville - 09-17-2018, 03:10 PM - Forum: World News - Replies (3)

Google Is Not Our Friend, Here Is Proof.





Google Built China A Prototype Search Engine That Allows Government To Spy On Citizens’ Search Queries.  Ashe SchowSeptember 15, 2018

Imagine if the U.S. government was able to freely access your search history and use it against you. That’s what may end up happening in China, thanks to a censored search engine built for the country by Google.

As reported by The Intercept, “The search engine, codenamed Dragonfly, was designed for Android devices, and would remove content deemed sensitive by China’s ruling Communist Party regime, such as information about political dissidents, free speech, democracy, human rights, and peaceful protest.”

That’s right, terms like “human rights,” “Nobel prize,” and “student protest” were all added to a censorship list compiled by the massive tech company for the Chinese government.

Keep in mind that China already has a social-credit system that ranks citizens and punishes them for behavior deemed inappropriate, such as bad driving or buying too many video games, according to Business Insider.

 Now think about the idea of your search history ending up tied to this system.

Naturally, Google doesn’t want to talk about what it’s doing.

“Google has so far declined to publicly address concerns about the Chinese censorship plans and did not respond to a request for comment on this story,” The Intercept reported. 

“It has also refused to engage with human rights groups regarding Dragonfly, ignored reporters’ questions, and rebuffed U.S. senators.”

Google has previously removed “don’t be evil” from its code of conduct.

Considering Google’s history of bias against conservatives, one might wonder what the future holds for the search engine in the United States.

do not use their search engine if ya can help it.

Use DuckDuckgo.com

Or others that don't track and create a data base on individuals. IMO, of course.

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