Bank Runs

Discussion in 'Markets & Economies' started by TreasureHunter, Oct 20, 2019.

  1. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,567
    Likes Received:
    176
    Trophy Points:
    63
    Location:
    Treasure Island
    I've lost count on degenerations. Babyboomers, X, Y,... to me pretty much all after Gen X and Millenials are the same soup.

    They don't wear jewelry? They wear trinkets, cheap bronze and titanium jewelry.

    The smart watches are like GPS-tracking handcuffs. They used to "tag" felons with them, but now people willing "tag" themselves.

    Youngsters nowadays are the dumbsters:
    - I met a bunch who were so excited about "not owning, but renting" (e.g. apartments), but it's actually numb and dumb not owning a home (think about a collapse or what happens if you get sick or lose your job), many have no clue about the benefits of owning your own place
    - "it's so much fun" living with Uber, Airbnb: businesses built on "not owning anything"
    - they pay with their phones, "'cause it's so kool" and have no idea what "value" is or what it's like to hold it physically, so the expression "if you don't hold it, you don't own it" means nothing to them
    - they buy the latest iPhone on credit
    - they live on credit like they're breathing on air and they just sell themselves like financial prostitutes, so that they can pay the bills the rest of their lives (buy now, serve, serve, serve to pay it off...)

    Young tattooed emos with a shampoo smile, wearing digital tag-watches will laugh you down to the ground when they hear that you're stacking silver coins.

    "Silver? Do you also collect stamps and listen to the Beatles? You must be so old!"
     
    madaw1, sgbuyer and 66rounds like this.
  2. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,212
    Likes Received:
    109
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    Silver is dead
     
  3. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    3,635
    Likes Received:
    765
    Trophy Points:
    113
    Location:
    Australia
    It gets worse, living in pods is so woke:

     
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    647
    Likes Received:
    495
    Trophy Points:
    63
    Location:
    Melbourne
    Correct on everything, but the not owning vs renting argument has many pro's and con's. At this moment i wouldnt advise anyone that hasnt already bought their own home to be buying. It might be financially in their favour to rent. Too many circumstances to account for with a blanket statement. Of course, home ownership without becoming debt-laden is a dream any reasonable person should aspire too. But like everything these days, the minute it falls in the "too hard" basket, youngsters write it off as useless and unnecessary and jump out of the pan and into the fire instead with this rubbish they call the sharing economy and air-tasking market.
     
    Last edited: Oct 30, 2019
  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,214
    Likes Received:
    599
    Trophy Points:
    113
    Location:
    Singapore
    In Singapore, married citizens get to lease for 99 years government apartments at a subsidised rate that ranges from sgd150k for a 2 bedroom to sgd400k for a large 3 bedroom apartment. The price is low enough for a low-middle income earner (citizens with kids earning less than 60k-70k a year don’t need to pay income tax) to work and support a stay at home mom and a single kid. The apartments are in city fringes but Singapore is small enough so a 45 minutes train ride can get you from one end of the island to the other end.

    In comparison, a 2 bedroom apartment outside the 5th ring road of Beijing will cost sgd600k, 4 times that of Singapore’s. On top of that, taxes are much higher in China. The result is that most people can’t afford to buy an apartment and those that buy have their parents using their pension and monies set aside for medical bills and retirement to pay for their apartment.

    With wages in Beijing 1/3 of Singapore’s, even the most basic apartments in Beijing are 12 times less affordable on a local wage. In Chinese societies, people don’t have kids outside of wedlock and women in China don’t get married unless the groom has bought an apartment. The result is plummeting birth rate which is totally unsustainable.
     
    Last edited: Oct 30, 2019
  6. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    test tube babies are nothing new, so with people having their own ways, birth rate can reverse in a heart beat

    this is directly related to owning a unit, but with loan money... at least the mortgage holder is paying double the actual cost of the unit purchased
    its like paying for the cost of 2 units to have the right to lease one unit, its a scam

    with corporations and incentives, these would make negative gearing possible till it pops...just look at HK where young people see no future of their own home
     
  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,214
    Likes Received:
    599
    Trophy Points:
    113
    Location:
    Singapore
    Maybe eventually the state will take over all properties other than the home you stay in. This looks like the only solution.
     
  8. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    in 2004 China abandon the first plank, Private property was inserted into the constitution

    while America abolish the private property, the first plank of the communist manifesto was inserted
     
  9. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    12,684
    Likes Received:
    1,759
    Trophy Points:
    113
    Location:
    Australia
    It sort of works like that now:

    With tax on the dollars you earn to pay interest on a loan on a house you must pay taxes on, and the Crown able to chuck you out of your residence for any number of reasons.
     
    Silver260 and sgbuyer like this.
  10. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    ‘Revenge & political pressure’: US House recognizes Armenian genocide and threatens Turkey with new sanctions https://on.rt.com/a4bp
    Ankara has accused Washington of “exploiting history” for political means after the US House overwhelmingly passed a set of bills acknowledging the 1915 Armenian genocide and calling for fresh sanctions against its NATO ally.
    The House voted 405-11 on Tuesday for the measure commemorating the genocide, committed over a century ago by the Turkish Ottoman government, provoking a fierce rebuke from Turkey. This “shameful decision” is “null and void,” tweeted Turkish Foreign Minister Mevlut Cavusoglu, who called the move an apparent revenge” for Turkey’s independent foreign policy.


    you know Turkey is joining the alternative settlement system, there is no other way to punish her but the above
     
  11. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,212
    Likes Received:
    109
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    Yep the Chinese have better property rights than we do
     
  12. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    3,635
    Likes Received:
    765
    Trophy Points:
    113
    Location:
    Australia
    Time to shut down silverstackers.com then!
    Or re-brand to goldstackers.com?
     
    Silver260 and 66rounds like this.
  13. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,405
    Likes Received:
    1,279
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    goldstackers.com would not attract so much interest as in silver stackers or silver forum where most people own and talk about gold. imagine people talk about poor man gold rather than gold? they all want to be richie
     
    Silver260 likes this.
  14. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    12,684
    Likes Received:
    1,759
    Trophy Points:
    113
    Location:
    Australia
    Richie Rich
    (letting on the truth!)

    [​IMG]
     
    Silver260 and sammysilver like this.
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,214
    Likes Received:
    599
    Trophy Points:
    113
    Location:
    Singapore
    Sterling silver trinkets are actually getting very popular in Singapore. There are almost as many people wearing silver as they are people wearing gold jewellery among the Gen X and the Millennial age groups in Singapore. Gen X being defined between 40-55 years old. 10 years ago, you would hardly see anyone wearing silver. This is the trend moving forward and I've spoken about this many times since the beginning of this year.

    Here's a article that confirms my observation that Asian millennials, particularly the educated ones with college education are not wearing gold but choose silver instead. In Singapore, we get all sorts of people from all over Asia so it's easy to gauge the trends.

    https://theprint.in/economy/indians-buying-less-gold-millennials-partly-to-blame/312221/

    Asians in cities are increasingly fashion conscious, as opposed to image/brand conscious, and silver is more fashionable than gold, just as an apple watch or a fitbit band is more fashionable than a rolex or seiko watch.
     
    Last edited: Oct 31, 2019
  16. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,212
    Likes Received:
    109
    Trophy Points:
    63
    Location:
    Gold Coast QLD
    or rename to crypto stackers.com
     
  17. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    460
    Likes Received:
    318
    Trophy Points:
    63
    The career situation is different than it was 50 years ago too. Where our parents could get good jobs and retire with benefits and stay in one house, we dont have much of that anymore.
    Flexibility is important and finding a decent job might require being able to move and buying a house would be a hindrance. A 30 year mortgage isnt for everyone.
     
  18. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

    Joined:
    Mar 16, 2019
    Messages:
    460
    Likes Received:
    318
    Trophy Points:
    63
    Name it cryptostackers so we can celebrate the 100s of billions that have evaporated and those that have lost everything for nothing.
    No thanks I'll take real money.
     
  19. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,417
    Likes Received:
    1,765
    Trophy Points:
    113
    Location:
    昆士蘭
    That’s fkn hilarious
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    2,567
    Likes Received:
    176
    Trophy Points:
    63
    Location:
    Treasure Island
    It's eeriely creepy that in the recent 6 months I've experienced around 2-3 power outages (light went out in the neighborhood), around 10-15 online banking malfunctions/platform maintenance/error issues (noticed with multiple banks, not just one!), 6-7 times ATM's were out of cash.

    And I'd add: almost every time I see a lot more people at ATM's taking out cash (nowadays). Only noticed this this year.

    People I know are also experiencing online banking downtimes. Just the other day someone complained to me explaining how worthless she finds online banking/digital banking.

    It's worrying.
     

Share This Page