You'll never hear the crash coming ... then suddenly it blindsides you

You think you can predict the next crash? Think again...

 

Thanks for the post.

And the voice in my head also says thanks.

Lucky for us that we are on the side of the road looking both ways.

 

75 days to go, and I will not care.

 

After working in ASX listed companies, and seeing first-hand how shareholder's funds are abused. I will never buy another share in any company.

 

" and seeing first-hand how shareholder's funds are abused"

Examples please? The above is a direct violation of the Companies Act I should think.



OC

 

I'm syncing my periods with OC.

 

You said that last year

 

No No. I'm gonna sync my periods with trew!

 

He probably said it over a bottle of '59 Grange. Ain't nobody remembering anything after that.

 

Just because you worked in one shifty company doesn't mean they are all shifty


Did the management have major shareholdings in this company ?

 

Ploise explayne ?

 

I'm pretty sure he means he has shares he wants to sell but is waiting until July 1st to sell them so the capital gain falls into the next financial year

 

You think you can predict the next crash? Think again...

Interesting article. I believe the hypothesis, however the hard part is living within the paradigm that disaster is just around the corner. You can prep yourself and then carry on "normally" only to find that your instincts and reactions have been blunted by the non-event. I never keep any savings in the bank, especially weekends, and especially long weekends, and extra specially Easter long weekends. Everyone on this Forum is only one degree away from me who has dozens of Cypriot relatives and friends who know what it is like to be hit by the Mack truck.

 

Was a little worried he was working on some kind of Doomsday device or something that's all.

 

Actually, I DID say that last year and I am still agonizing over the calender this year.

The new financial year IS the key, and if i sell today Mr Hockey can dine on '59 Grange every day of the week he will have so much spare money.

OC

 

You should revise your view. You will never buy another share in an ASX company UNLESS you own 51%

( After the next crash you can pick them up for pennies)

Kind Regards
non recourse

 

One from the Wall Street Journal
http://online.wsj.com/news/articles/SB10001424052702303325204579465610191507216

[h]The Coming Financial Crisis[/h]

...

I have witnessed the 1980s savings-and-loan crisis, the 1987 stock-market crash, the 1997 Asian financial crisis, and the 1998 collapse of a hedge fund called Long-Term Capital Management that had to be bailed out before it took down the global economy.

Then came the 2000 dot-com bust. Then, the 2008 financial crisis and the muck our economy has been stuck in ever since.

[em]Every crisis is different in detail, but the cause is always some variation of the same game: High rollers amass debt until they can't pay it off, and then they default, setting off a string of insolvencies that can be stopped only by putting taxpayers at risk.[/em]

[em]Systemic fraud is exposed in every crash, but little is done about it. Big business, big government and big bankers are too often from the same self-dealing clan. The most culpable among them will claim no one could have possibly seen the big crash coming, even though plenty of warnings went unheeded.[/em]

Economists working for the looting class often compare the economy to the weather. They claim that unavoidable cycles cause crashes, as if the economy were a natural phenomenon, existing apart from humanity. But humans create economies, and humans cause financial disasters.

Financial crimes are tolerated in the name of free-market capitalism and the comforting pretension that another economic crash could never happen again.

Make no mistake, though. The next crash will fall like the recent landslide in Washington state, where a 1999 U.S. Army Corps of Engineers study warned of the risks of a "large catastrophic failure." And then it happened.

In the next crash, when you hear someone claiming that it wasn't foreseeable, remember a new book by award-winning financial reporter Bob Ivry: "The Seven Sins of Wall Street: Big Banks, Their Washington Lackeys, and the Next Financial Crisis."

In it, he details the many financial crimes that have occurred not before but after the 2008 financial crisis.

He writes about too-big-to-fail banks only becoming larger. He writes about private-equity firms buying up foreclosed homes, turning them into rentals and then issuing bonds on the revenue streamsschemes that sound like 2004 all over again. He writes about wrongful foreclosures and the economic squeeze on ordinary Americans.

Mr. Ivry claims this is all quite deliberate: "We called it a financial crisis, but what happened in 2008 was really a leveraged buyout of the United States."

He claims things have only gotten worse. The nation is now more in debt, and its people are now more impoverished, making America more vulnerable to the next big crash.

"Predatory greed," Mr. Ivry writes, has been "weaponized for the war fought by the rich against the poor and middle class." It has America "pointed toward the second avoidable economic cataclysm of the baby boom era."

Mr. Ivry leads off his tale with a 2010 quote from J.P. Morgan Chase JPM +0.43% Chief Executive Jamie Dimon : "My daughter called me from school one day and said, 'Dad, what's a financial crisis?' And without trying to be funny, I said, 'It's something that happens every five to seven years.' "

By Mr. Dimon's count, we are about due.

 

And they're profitable.

 

Here comes the crash.....when we finally run out of these clowns sprouting this crap .....then it is time.
At the the moment we have a plethora of clowns so it is safe to say that the crash is a long, long way off.

 

very strange logic!