Yeah, I've been beating that drum for nearly 30 years now and nothing has changed so I rarely bother anymore. Most people do not want to know and it will have a very negative impact on you if you persist. Look after yourself and those closest to you mate and let the rest go. When it hits the fan those same people will cut your throat for what you have and be rioting in the street demanding that someone fix it all for them. They are products of systemic apathy and depend entirely on the system to provide for them and tell them what to do. Why would they listen to you when the TV tells them everything is just fine. No one loves a soldier until the enemy is at the gate.
So for 30 years you've been saying that tomorrow it's gonna hit the fan.... "Past performance does not represent future performance."
Basically, Yeah. Sounds bad huh? It's a bit more complicated than that actually. I have been discussing progressive problems culminating in the irreversible crisis we now find ourselves in for 30 years but have not specified any particular event happening on any particular day. 30 years ago something could have been done to prevent this. It is actually my belief that these problems stem back prior to WW1 and if I were that old I would have been warning about this for the last hundred years. Much about the future can be learned from the past. Looking at your signature concerning performance, past and future, leads me to believe we may be in opposite camps as I wholly disagree.
Not saying all this will be happening by 2015 but the signs will be clear. Interest rates climb into double digits, bond market fails, jobs outside of essentual services dramaticly contract, housing market implodes, getting a loan or refinance becomes impossable, derivatives market goes up in a puff of smoke, retirerment and super disappears into money heaven. Just generally bad times all around, most will think the end of the world but it will be the cleansing that needs to happen and just a new begining Not being in debt when it all happens would be a start but failing that, know when to hold or walk away from debt. You might be interested in reading : Aftershock- protect yourself and profit in the next global financial meltdown. (Great chapter on debt and working around it when it all crashes down) Not all doom and gloom, its always said that real fortunes are made in the bad times. Just need to understand where the risks and profits are and still some time to prepare. Everyone will hurt but those that took some time will come out a lot better. And yes, PMs will have there place. People always get through these things because they have to. The first few years will be the hardest as people will need to change their outlook but everyone can adapt and hopefully learn that debt is the wrong choice everytime, both personal and government. Just look at Cyprus, Greece, Spain. They are the front runners on whats to come if you want to see the outcome. Hope it doesnt happen but Im yet to see any hope that those calling the shots can make the right decisions to stop it or the will of voters to deal with what needs to be done. Enjoy the good times but prepare for the bad.
I think you might be onto something there. It certainly started before WW1 but seemed to quicken around that time and forward. The lessons learnt each crisis are forgotten more quickly as time goes on, never fixed but the belief of being smarter has grown. Just look at the GFC, only 5yrs ago and not only have the mistakes not been fixed but they have been compounded! Now that everything is tied in world wide, there wont be a place that doesnt get hit hard.
the great depression wasn't all that bad for most, just the 30% of people that didn't have a job, had no savings, rented their home and had no skills, basically the dole bludgers. useless pieces of work they were, most those guys up and left their wives and kids to go out and do it on their own, in those days women didn't have work skills so they were left for dead. for everyone else it was life as per usual, if you could fix a tap you could find work, if you had some money saved you could buy machinery or tools, buy a cheap house or pay rent and not live in a tent and rely on the susso. same today, the junkies and dole bludgers on our streets are the next generation of desperate people looking for work & food when welfare stops and shtf. "We're on the susso now, We can't afford a cow, We live in a tent, We pay no rent, We're on the susso now." The world needs a spring clean, a great depression is an awesome hoover, sucking up all the dregs of society.
