Comments on: TDB Late Stage Capitalism Report: 3 more warnings of the economic crash coming centred on the US economy

By: Fantail

Fantail — Sun, 18 Sep 2022 04:02:50 +0000

In reply to Andrew. Yes but it will hit here as well and if it gets into our banks, all the Ma and Pa investors will be effed as we are only one of 2 countries that are not covered by a bank guarantee scheme. The Reserve bank will run what it calls a haircut scheme where depositors will lose a large chunk of their money in the first instance before the Govt will then consider a bail out. Many of us have taken our pension investments out and put them in banks this year despite losses due to inflation. If all those people took a haircut along with actual retirees, they would be in a lot of trouble for decades to come.

By: Fantail

Fantail — Sun, 18 Sep 2022 03:56:33 +0000

Yep they are facing a major liquidity problem with the dollar going (and likely to stay) sky-high which for them is not the good news it would be seen as if the NZ $ were to strengthen.

By: Andrew

Andrew — Sun, 18 Sep 2022 01:52:40 +0000

All those points you mentioned showed that the market is operating as it should – punishing people who gamble with debt.

They were warned.

By: Blazer

Blazer — Sat, 17 Sep 2022 22:21:55 +0000

A big crash has been defferred since 2008 via ‘modern monetary theory’=too big to fail banks.
‘Systemic risk’ and ‘moral hazard’,the catch phrases of the GFC have worn thin.
Economys based on property and stocks inflation over manufacturing and real productivity have reached their zenith.
I think the U.S has had trade deficits every year since around 1975…(a few years after ditching the Gold/$U.S std)
Defending U.S hegemony and the petro dollar has created trillions of unpayable,interest bearing debt.
The only problem is, so much is owned by international creditors ,a crash is not beneficial to them…either.