Global Debt Time Bomb explodes soon

Topics in this category pertain to planning. Discussions include how to prepare yourself, your family and your community for catastrophes and what you plan to do when they hit you.

Moderator: ZS Global Moderators

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Mon Feb 24, 2020 12:21 pm


User avatar
TacAir
* * * * *
Posts: 8224
Joined: Fri Aug 27, 2010 6:01 pm
Contact:

Re: Global Debt Time Bomb explodes soon

Post by TacAir » Mon Feb 24, 2020 12:31 pm

While employment is at an all time high...

Washington (CNN Business) The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion.

so is the deficit. 1 trillion+ - that's a big number no matter how you look at it.
TacAir - I'd rather be a disappointed pessimist than a horrified optimist
**All my books ** some with a different view of the "PAW". Check 'em out.
Adventures in rice storage//Mod your Esbit for better stability

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Mon Feb 24, 2020 12:52 pm

TacAir wrote:
Mon Feb 24, 2020 12:31 pm
While employment is at an all time high...

Washington (CNN Business) The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion.

so is the deficit. 1 trillion+ - that's a big number no matter how you look at it.
I feel the urge to ready myself, but I find nothing to do.

'prolly me just being me.

User avatar
TacAir
* * * * *
Posts: 8224
Joined: Fri Aug 27, 2010 6:01 pm
Contact:

Re: Global Debt Time Bomb explodes soon

Post by TacAir » Mon Feb 24, 2020 1:25 pm

MPMalloy wrote:
Mon Feb 24, 2020 12:52 pm
TacAir wrote:
Mon Feb 24, 2020 12:31 pm
While employment is at an all time high...

Washington (CNN Business) The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion.

so is the deficit. 1 trillion+ - that's a big number no matter how you look at it.
I feel the urge to ready myself, but I find nothing to do.

'prolly me just being me.
Reduce/eliminate personal debt.

Consider long term investments (I duuno - land maybe)

Long term food storage as a kind of 'insurance'

Start a garden, learn a new skill, there are lots of things you can do to become more self-reliant....

edit to add
I was working in the former USSR (CIS) when the Ruble was de-valued. I saw first hand what happened to the vast majority of the residents when this happened.

I hope to never see that here - not withstanding the horrible (real) inflation under the "Carter years"...
TacAir - I'd rather be a disappointed pessimist than a horrified optimist
**All my books ** some with a different view of the "PAW". Check 'em out.
Adventures in rice storage//Mod your Esbit for better stability

User avatar
raptor
ZS Global Moderator
ZS Global Moderator
Posts: 17060
Joined: Sun Mar 04, 2007 10:18 pm
Location: Greater New Orleans Area

Re: Global Debt Time Bomb explodes soon

Post by raptor » Mon Feb 24, 2020 2:31 pm

MPMalloy wrote:
Mon Feb 24, 2020 12:21 pm
Per CNBC: DOW PLUNGES 1,000 POINTS
It is 1,000 points but that is only 3% not a good day by any means but nothing like 2008 much less October 19–20, 1987.

User avatar
FlashDaddy
ZS Donor
ZS Donor
Posts: 1527
Joined: Tue Jul 29, 2008 7:22 pm
Favorite Zombie Movies: All the Milla movies and Shaun of the Dead
Location: There's no place I can be since I've found (hoosier) Serenity.

Re: Global Debt Time Bomb explodes soon

Post by FlashDaddy » Tue Feb 25, 2020 2:13 pm

Day 2 of stock drops. DJIA now (2:12pm Eastern) at -800 and falling fast.

https://www.cnbc.com/2020/02/24/stock-f ... -rout.html
- Flash

Browncoat, food & H2O storing Dad. "I don't care, I'm still free, you can't take the sky from me."
"Freedom is not a gift bestowed upon us by other people or the majority, it's a right that belongs to all of us."

User avatar
norcalprep
* *
Posts: 207
Joined: Tue Jan 25, 2011 4:48 pm

Re: Global Debt Time Bomb explodes soon

Post by norcalprep » Tue Feb 25, 2020 2:24 pm

TacAir wrote:
Mon Feb 24, 2020 1:25 pm

edit to add
I was working in the former USSR (CIS) when the Ruble was de-valued. I saw first hand what happened to the vast majority of the residents when this happened.

I hope to never see that here - not withstanding the horrible (real) inflation under the "Carter years"...
That sounds very informative. What can I do to encourage you to start a thread of your experiences and observations of that event?

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Tue Feb 25, 2020 2:49 pm

norcalprep wrote:
Tue Feb 25, 2020 2:24 pm
TacAir wrote:
Mon Feb 24, 2020 1:25 pm
edit to add: I was working in the former USSR (CIS) when the Ruble was de-valued. I saw first hand what happened to the vast majority of the residents when this happened.

I hope to never see that here - not withstanding the horrible (real) inflation under the "Carter years"...
That sounds very informative. What can I do to encourage you to start a thread of your experiences and observations of that event?
Yes, Prease! :clownshoes:


User avatar
TacAir
* * * * *
Posts: 8224
Joined: Fri Aug 27, 2010 6:01 pm
Contact:

Re: Global Debt Time Bomb explodes soon

Post by TacAir » Tue Feb 25, 2020 8:06 pm

norcalprep wrote:
Tue Feb 25, 2020 2:24 pm
TacAir wrote:
Mon Feb 24, 2020 1:25 pm

edit to add
I was working in the former USSR (CIS) when the Ruble was de-valued. I saw first hand what happened to the vast majority of the residents when this happened.

I hope to never see that here - not withstanding the horrible (real) inflation under the "Carter years"...
That sounds very informative. What can I do to encourage you to start a thread of your experiences and observations of that event?

Get one of the mods to drop me a line with a Kings X on politics, and I'll do just that.

You cannot talk about the fall of an Empire without dragging politics into to the discussion.
TacAir - I'd rather be a disappointed pessimist than a horrified optimist
**All my books ** some with a different view of the "PAW". Check 'em out.
Adventures in rice storage//Mod your Esbit for better stability

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Wed Feb 26, 2020 9:33 am

Starting out, the Dow is rising today.

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Wed Feb 26, 2020 12:55 pm



User avatar
PistolPete
ZS Moderator
ZS Moderator
Posts: 6460
Joined: Sat Feb 19, 2005 12:31 pm
Location: St Louis

Re: Global Debt Time Bomb explodes soon

Post by PistolPete » Thu Feb 27, 2020 4:35 pm

The slide in the US market this week is in the top 20 of all time. USA! USA!
https://www.marketwatch.com/story/how-b ... =home-page
Steemit, where I write stuff now

Don't go around saying the world owes you a living. The world owes you nothing. It was here first.
- Mark Twain
Image


MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Fri Feb 28, 2020 2:43 pm


User avatar
woodsghost
* * * * *
Posts: 3632
Joined: Thu May 16, 2013 3:45 pm

Re: Global Debt Time Bomb explodes soon

Post by woodsghost » Fri Feb 28, 2020 3:38 pm

There are various stories about stock prices falling. Some big companies shifted to holding massive cash reserves about 6 months ago. I'm betting they are working to get the market lower so they can buy low and sell high. The selloffs and panic don't make sense to me. What industries will be affected? I would get rid of travel/leisure stocks and the industries which heavily support them, but otherwise, I don't see the rest of the economy tanking. I forsee money shifting from the travel industry to the medical industry, but money will still flow and the economy (local/global) will still turn.

Further, with cancelled travel, people will have money which is suddenly liquid. That may get spent on medical treatment, but I expect most will get spent on some form of more local entertainment which doesn't involve spending time in crowds.

Just some speculation.
*Remember: I'm just a guy on the internet :)
*Don't go to stupid places with stupid people & do stupid things.
*Be courteous. Look normal. Be in bed by 10'clock.

“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” -Bilbo Baggins.

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Fri Feb 28, 2020 7:38 pm


boskone
* * * * *
Posts: 1421
Joined: Wed Oct 17, 2012 4:07 pm
Location: Aggieland-ish

Re: Global Debt Time Bomb explodes soon

Post by boskone » Fri Feb 28, 2020 7:44 pm

woodsghost wrote:
Fri Feb 28, 2020 3:38 pm
There are various stories about stock prices falling. Some big companies shifted to holding massive cash reserves about 6 months ago. I'm betting they are working to get the market lower so they can buy low and sell high. The selloffs and panic don't make sense to me. What industries will be affected? I would get rid of travel/leisure stocks and the industries which heavily support them, but otherwise, I don't see the rest of the economy tanking. I forsee money shifting from the travel industry to the medical industry, but money will still flow and the economy (local/global) will still turn.

Further, with cancelled travel, people will have money which is suddenly liquid. That may get spent on medical treatment, but I expect most will get spent on some form of more local entertainment which doesn't involve spending time in crowds.

Just some speculation.
Even if there's no actual economic reason for a recession, I think just the constant reports of one coming up will cause people to batten down and start putting money aside instead of spending. That itself can cause a recession.

Add the disruption from COVID-19, and people starting to engage in "securing" activities (stocking up on food, putting money aside in case of quarantine downtime, and so on), and I could see it tipping the balance.

We'll have to see, I suppose.

MPMalloy
ZS Member
ZS Member
Posts: 6097
Joined: Mon Aug 22, 2005 2:48 am

Re: Global Debt Time Bomb explodes soon

Post by MPMalloy » Fri Feb 28, 2020 8:42 pm

boskone wrote:
Fri Feb 28, 2020 7:44 pm
I think just the constant reports of one coming up will cause people to batten down and start putting money aside instead of spending. That itself can cause a recession.
Spreading rumors X Length of Time = Self-fulfilling Prophecy.

Basic math.

User avatar
norcalprep
* *
Posts: 207
Joined: Tue Jan 25, 2011 4:48 pm

Re: Global Debt Time Bomb explodes soon

Post by norcalprep » Fri Feb 28, 2020 9:00 pm

MPMalloy wrote:
Fri Feb 28, 2020 8:42 pm
boskone wrote:
Fri Feb 28, 2020 7:44 pm
I think just the constant reports of one coming up will cause people to batten down and start putting money aside instead of spending. That itself can cause a recession.
Spreading rumors X Length of Time = Self-fulfilling Prophecy.

Basic math.
I can't remember where I've seen thing before because I have long since internalized this, is that most of regular stock transactions are that way anyways. Various 'experts' give reports such as stock X is a 'buy' because it's below what they think it should be and say it'll go up. People buy it thinking to get in before it go up, and, in doing so, makes it go up. Self fulfilling. Then, after a while, it's pretty high so the 'expert' says it's now a 'sell' because it's overpriced and will go down. People sell, trying to get out before it goes down, and, in doing so, makes it go down. Self fulfilling.

Of course, none of this applies to big corporate moves or automated transactions. I'm talking about people who do it as a hobby.

boskone
* * * * *
Posts: 1421
Joined: Wed Oct 17, 2012 4:07 pm
Location: Aggieland-ish

Re: Global Debt Time Bomb explodes soon

Post by boskone » Sat Feb 29, 2020 12:54 pm

MPMalloy wrote:
Fri Feb 28, 2020 8:42 pm
boskone wrote:
Fri Feb 28, 2020 7:44 pm
I think just the constant reports of one coming up will cause people to batten down and start putting money aside instead of spending. That itself can cause a recession.
Spreading rumors X Length of Time = Self-fulfilling Prophecy.

Basic math.
It's called the "illusion of truth" effect: if you hear something often enough, your brain actually decides it's true.

I couldn't remember that because I have only an illusion of memory: I think I can remember things, but really I can't. :D

User avatar
Stercutus
* * * * *
Posts: 14286
Joined: Wed Feb 10, 2010 8:16 pm
Location: Safe On Base

Re: Global Debt Time Bomb explodes soon

Post by Stercutus » Sat Feb 29, 2020 8:54 pm

Stercutus wrote:
Fri Nov 29, 2019 8:19 am
Whelp my 90 day prediction didn't work out. I'm going to go ahead and make another one. World Economy is over and done with. We will all be eating out of dumpsters by the end of say... March. Remember you heard it here first.
Everyone who heeded my warning you are welcome. If you didn't well... that was your decision. Thinking the bottom is still out there.
You go 'round and around it
You go over and under
I go through

User avatar
flybynight
* * * * *
Posts: 3355
Joined: Sun Dec 01, 2013 12:30 am

Re: Global Debt Time Bomb explodes soon

Post by flybynight » Sat Feb 29, 2020 9:44 pm

Stercutus wrote:
Sat Feb 29, 2020 8:54 pm
Stercutus wrote:
Fri Nov 29, 2019 8:19 am
Whelp my 90 day prediction didn't work out. I'm going to go ahead and make another one. World Economy is over and done with. We will all be eating out of dumpsters by the end of say... March. Remember you heard it here first.
Everyone who heeded my warning you are welcome. If you didn't well... that was your decision. Thinking the bottom is still out there.
The bottom? Of the dumpster?
Not all those who wander are lost

John Titor was right <--- :ohdear: Way past the point of going gray man. See you on the other side ( or not :wink: )

Post Reply

Return to “Contingency Planning & Preparation”