economic collapse

[RKO]

Well this is a fun thread.

 

[IHOM]

Ny stock exchanged closed... so called "technical glitch"

http://www.dailymail.co.uk/news/article-3153716/New-York-Stock-Exchange-halts-trading.html

 

[Maynard Keenan]

Ny stock exchanged closed... so called "technical glitch"

http://www.dailymail.co.uk/news/article-3153716/New-York-Stock-Exchange-halts-trading.html

Looks like the glitch had no practical effect. Market up 89 points today!

 

[classicalhero]

This could have been an intelligent thread, but it got off on the wrong foot.

 

[Maynard Keenan]

This could have been an intelligent thread, but it got off on the wrong foot.

It got off on the wrong foot starting with the very first post. For as long as there's been an internet I've been listening to people proclaiming imminent economic/societal collapse, often with some single crackpot "expert" as a citation.

 

[parousia70]

This thread belongs in Eschatology with all the other Date setting, sky is falling, the end is near whack-doodle speculationers.

 

[Steve Petersen]

 

[parousia70]

BRILLIANT! Stealing......

 

[IHOM]

Oil demand slowing even as supplies still growing: IEA

Global oil demand is forecast to be even lower next year than it was in 2015, agency forecasts


http://www.cbc.ca/m/news/business/oil-demand-slowing-even-as-supplies-still-growing-iea-1.3146420

 

[Maynard Keenan]

Oil demand slowing even as supplies still growing: IEA

Global oil demand is forecast to be even lower next year than it was in 2015, agency forecasts


http://www.cbc.ca/m/news/business/oil-demand-slowing-even-as-supplies-still-growing-iea-1.3146420

Excellent news! Higher oil prices have led people to conserve and to adopt more efficient technologies! We're taking out first real steps at moving beyond a fossil fuel economy!

 

[IHOM]

I couldnt agree more...high oil prices have been crippling the ecconomy... problem is that last years oil derivitives are locked in with the banks at about $100 per barrel... low oil prices also means oil fracking companies cant produce oil and sell it to cover costs... the banking investment in fracking is very substantial too...if oil stays low when these fracking companies go bust and the oil derivitives mature the banks are going to loose big time... however lower oil prices for the "real" economy is good

Sorry just re read your post and thought you would know weak demand and high production would lower oil prices not increase it

What happened regarding the demand is that when the fracking companies came online they flooded the market and the opec nations like saudi arabia instead of reducing supply to maintain prices refused to do so... i think they even increased it... obviously this was done in order lower prices to force the fracking companies out of business so that opec could maintain a monopoly

 

[Viren]

Excellent news! Higher oil prices have led people to conserve and to adopt more efficient technologies! We're taking out first real steps at moving beyond a fossil fuel economy!

Actually, the lower demand is from slower global growth. The U.S. economy actually contracted last quarter.
http://www.nytimes.com/2015/05/30/business/economy/us-economy-gdp-q1-revision.html?_r=0

 

[IHOM]

Slower growth equals less shipping less manufactring less industry these are down dramatically bit it also equals less use of fossile fules in that sense he is right but if he means in the sense of switching to sustainable fuels its played only a small part... in the uk the switch over to sustainable energy has only risen 16% in the last year where the shipping index is at its lowest ever recorded.... so it depends on what he means

 

[IHOM]

LONDON, July 14 (Reuters) - Europe is failing to shake off the threat of deflation, with prices falling in Sweden, flat-lining in Britain and barely registering any increase in Germany and Italy.

http://www.dailymail.co.uk/wires/reuters/article-3160779/Europe-fails-rid-deflation-threat.html

 

[IHOM]

Last week the greek people voted against a bailout... today the greek government voted in favour..... how apt that the birth place of democracy becomes the first place in the eu to experience the death of democracy

 

[Viren]

Stock market down 5% in 2 days as global growth less than expected.

http://finance.yahoo.com/news/russell-2000-falls-correction-global-133000064.html

The markets can paper over the reality of peak oil for only so long. The tripling of the national debt has given the system an extra 10 years of life so far, but I believe it's reaching a breaking point.

 

[mark46]

Don't we have sub forums for end-of-the world scenarios and for conspiracy theories?

 

[Viren]

I thought the OP was very informative and factual. It's kind of a shame this thread had to be labeled end of the world conspiracy.

 

[zippy2]

Dow closed over 500 down today.

 

[IHOM]

The next crisis is well underway

http://www.nbcnews.com/business/mar...plunges-lowest-level-year-china-fears-n413916

From this crisis you will see physical fiat currency destroyed and a new economic order based on a cashless society.

This is not a guess not some theory it is something that has been discussed and promoted and even tried to degrees.