World Going Bankrupt ?
CD Erthuik | 28.06.2002 14:43
Its beginning to look a bit more serious this time; booms and slumps have happened at several times in history, as have large scale wars. but there have only been two World Wars, and only one Wall Street Crash, none of which any of us less than 70 yoa have any first-hand experience.
In the first place, it becomes clear that the state of the economy is largely a matter of opinion, so try to fathom how much time we have before the slump sets in. your guess is as good as mine, or your bank managers, so read the financial press daily, and look for the signs. Rememeber, the 'Crash' was in 1929, but the 'slump' didnt really hit until about 1933. When it does hit, no part of the economy will be immune, so whever your personal wealth, or that of your friends, will be guaranteed an exemption, no matter how affluent you, or they may be at present. Money may become worthless overnight, property may be requestioned by the state, and the semi-war currently smouldering may suddenly erupt. activism will become a much more serious matter in the eyes of the state, so decide whether you want to continue, or perhaps if youre doing it for the pose, just drop the pose. try to find a job that is not excessively linked to the money-markets (thats a problem in Britain where the financial sector is about the only one that seems to carry any cache in the eyes of the public.) Think in terms of consolidating your life, and dont increase exposure by taking unecessary risk. In a phrase, if the world is heading for a 'bear-market', then consider your life as a bear-market too.
In the first place, it becomes clear that the state of the economy is largely a matter of opinion, so try to fathom how much time we have before the slump sets in. your guess is as good as mine, or your bank managers, so read the financial press daily, and look for the signs. Rememeber, the 'Crash' was in 1929, but the 'slump' didnt really hit until about 1933. When it does hit, no part of the economy will be immune, so whever your personal wealth, or that of your friends, will be guaranteed an exemption, no matter how affluent you, or they may be at present. Money may become worthless overnight, property may be requestioned by the state, and the semi-war currently smouldering may suddenly erupt. activism will become a much more serious matter in the eyes of the state, so decide whether you want to continue, or perhaps if youre doing it for the pose, just drop the pose. try to find a job that is not excessively linked to the money-markets (thats a problem in Britain where the financial sector is about the only one that seems to carry any cache in the eyes of the public.) Think in terms of consolidating your life, and dont increase exposure by taking unecessary risk. In a phrase, if the world is heading for a 'bear-market', then consider your life as a bear-market too.
CD Erthuik
Comments
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Holy Fucking Shit!!!!!
28.06.2002 16:00
I mean, can you imagine the reaction at the factory gates when the anti-globalisers turn up in carnival costumes offering radical yoga sessions?
So, lets get serious folks. Capitalism is a strong and adaptable beast. A crash or slump doesn't mean it is destroyed. But it may be the time to really get started...
A little less conversation and a little more action, anyone?
Apocalypto
look at the clock
28.06.2002 22:03
NTG
a prognosis needed
28.06.2002 22:28
dh
Not unprincipled to apply tactics
29.06.2002 11:57
In short, I agree the whole thing certainly has a 'Wall St' feel to it, and we need to start applying some tactics in our lives without becoming opportunistic about it. I find muself looking at my Building Society statement (if it still is a BS and not a bank now) to see who the accountants are. Perhaps I'm glad I dont have too much of a pension to fret over, but I might split my savings into different currencies, and clear that overdraft which costs so little at the moment.
Auntie Capitalism