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The global financial system. What hope is there?

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MadCornishBiker On January 14, 2014

Banned



St Columb Road, United Kingdom
#1New Post! Nov 29, 2011 @ 13:44:20
I have to admit that, though I wouldn't normally say it I am sitting here with something of a "told you so" look on my face.

I have been predicting for decades that we were heading for trouble, it was so obvious to me, and also obvious that no-one had any intention of doing anything about it until it was too late.

The biggest cause of the problem? No, not the banks, though they certainly haven't helped. No, the biggest problem, and the one I first spotted decades ago has always been public sector borrowing. Any government, whether local or national, that has to continually borrow to finance whatever they are spending money on is in trouble unless they get their budget in order and cut back on the expenditure, or increase their income.

Money is a finite resource, even for governments, and any borrowing has to be paid back. The more you borrow, the more you have to pay back and the bigger the gap between expenditure and income gets. In that sense, governments are no different to families, you cannot spend more than you earn for ever.

What is the answer? Personally I think it has now gone too far for there to be an answer, at least one that the public will accept, hence the riots n Greece etc. and the strikes in the UK.

So, what happens when the money has run out and no more can be borrowed? No-one knows for sure, but it isn't going to be pleasant for any of us. It will likely be the end of society as we know it. Especially ones in such as vulnerable position in such a vulnerable position as myself. The poorest always suffer most and longest.

Of course, with my religious beliefs being what they are I am not convinced this system has that much longer to last anyway, and I can only hope that it ends before the worst hits, but somehow I doubt it will.
drman321 On December 28, 2013




, Florida
#2New Post! Nov 29, 2011 @ 14:04:22
You are assuming unintelligent actors. You are assuming that the people of the world are nothing better than lemmings heading for a cliff. I'm afraid that the real world just does not work that way.
SlyFox On May 12, 2021




Surrey, United Kingdom
#3New Post! Nov 29, 2011 @ 15:02:18
Yes and individuals who racked up thousands in debts and simply go bankrupt. Living beyond their means, taking out loan after loan to either keep up with the Jones's or simply to keep on top of repayments, however it is us sensible workers/savers that suffer.

I agree that the world is coming to an end and thank f*** it is, even if it's only to stop treebee stalking me. I only hope God gives me the nod so I can piss up all my savings before it happens
drman321 On December 28, 2013




, Florida
#4New Post! Nov 29, 2011 @ 15:04:07
Why would anyone be glad about the world ending? Isn't that kind of suicidal?
SlyFox On May 12, 2021




Surrey, United Kingdom
#5New Post! Nov 29, 2011 @ 15:09:03
@drman321 Said

Why would anyone be glad about the world ending? Isn't that kind of suicidal?


Personally I was being a little flippant....
lefty On July 19, 2018
AKA: friendlybear





Oh, Canada
#6New Post! Nov 29, 2011 @ 16:36:35
@MadCornishBiker Said

I have to admit that, though I wouldn't normally say it I am sitting here with something of a "told you so" look on my face.

I have been predicting for decades that we were heading for trouble, it was so obvious to me, and also obvious that no-one had any intention of doing anything about it until it was too late.

The biggest cause of the problem? No, not the banks, though they certainly haven't helped. No, the biggest problem, and the one I first spotted decades ago has always been public sector borrowing. Any government, whether local or national, that has to continually borrow to finance whatever they are spending money on is in trouble unless they get their budget in order and cut back on the expenditure, or increase their income.

Money is a finite resource, even for governments, and any borrowing has to be paid back. The more you borrow, the more you have to pay back and the bigger the gap between expenditure and income gets. In that sense, governments are no different to families, you cannot spend more than you earn for ever.

What is the answer? Personally I think it has now gone too far for there to be an answer, at least one that the public will accept, hence the riots n Greece etc. and the strikes in the UK.

So, what happens when the money has run out and no more can be borrowed? No-one knows for sure, but it isn't going to be pleasant for any of us. It will likely be the end of society as we know it. Especially ones in such as vulnerable position in such a vulnerable position as myself. The poorest always suffer most and longest.

Of course, with my religious beliefs being what they are I am not convinced this system has that much longer to last anyway, and I can only hope that it ends before the worst hits, but somehow I doubt it will.


@King James Bible Said

Matthew 21:12
And Jesus went into the temple of God, and cast out all them that sold and bought in the temple, and overthrew the tables of the moneychangers, and the seats of them that sold doves, 13And said unto them, It is written, My house shall be called the house of prayer; but ye have made it a den of thieves.

Mark 11:15
And they come to Jerusalem: and Jesus went into the temple, and began to cast out them that sold and bought in the temple, and overthrew the tables of the moneychangers, and the seats of them that sold doves.


Where is the Saviour when He is needed??
MadCornishBiker On January 14, 2014

Banned



St Columb Road, United Kingdom
#7New Post! Nov 29, 2011 @ 18:09:22
@lefty Said

Where is the Saviour when He is needed??



He is exactly where he should be, and doing exactly what he should be doing.

Why should he try to save the system which is ruled by Satan? No, he is concentrating on preparing for the system which will replace this one, when everything is back to the original purpose.

I believe things will get a lot worse before they get better and people faith will be sorely tested. ONly the strong will survive.
MadCornishBiker On January 14, 2014

Banned



St Columb Road, United Kingdom
#8New Post! Nov 29, 2011 @ 18:11:28
@drman321 Said

Why would anyone be glad about the world ending? Isn't that kind of suicidal?



Only for those who get no part in the New World.

I personally will be very glad to see this world end because that will also men an end to sickness death and suffering, as well as things being back on the course God originally planned.

Of course I would love to see everyone survive, as would God himself, but He doesn't intend to force anyone.
MadCornishBiker On January 14, 2014

Banned



St Columb Road, United Kingdom
#9New Post! Nov 29, 2011 @ 18:19:10
@drman321 Said

You are assuming unintelligent actors. You are assuming that the people of the world are nothing better than lemmings heading for a cliff. I'm afraid that the real world just does not work that way.


Unfortunately, as history shows us, the world has long headed that way. Politicians have spent decades sucking up to the electorate, refusing to make cuts which they now have no choice but to make.

The problem is that too many think like you and assume someone will be smart enough to sort it out. I've been watching it for decades and being pooh-poohed for decades for warning people. Well now they have finally awoken but I believe far too late.

How are governments now going to get the spending below their income so that they have headroom to pay back their dents? The UK alone is forecasting having to borrow another 127,000,000,000 just to get them through next year. They were planning on 122,000,000,000,, but the outcry against the cuts they are having to plan to get close to that is horrendous, and there have got to be many, many more to come. People just don't want the discomfort of doing what need to be done. That means getting further into debt not out of it.

Lemmings ain't got nothing on it (and that's a myth anyway, deliberately fostered by the media).
sister_of_mercy On March 11, 2015




London, United Kingdom
#10New Post! Nov 29, 2011 @ 20:40:22
@drman321 Said

Why would anyone be glad about the world ending? Isn't that kind of suicidal?


I don't know, I think it'd all be a bit exciting in a terrifying kind of way. To be there for the very end would be quite interesting.
drman321 On December 28, 2013




, Florida
#11New Post! Nov 29, 2011 @ 20:43:14
@sister_of_mercy Said

I don't know, I think it'd all be a bit exciting in a terrifying kind of way. To be there for the very end would be quite interesting.



I always found it a bit conceited for folks to assume they are living in the "end times". Funny that it overwhelming appears to be the elderly who believe as such too. It almost seems too convenient that as their life winds to a close they assume the world must also be winding down.
lefty On July 19, 2018
AKA: friendlybear





Oh, Canada
#12New Post! Nov 29, 2011 @ 21:01:22
@drman321 Said

I always found it a bit conceited for folks to assume they are living in the "end times". Funny that it overwhelming appears to be the elderly who believe as such too. It almost seems too convenient that as their life winds to a close they assume the world must also be winding down.


This old world is going to be here, long after we're gone. Let's face it, it's survived a lot worse disasters than global financial collapse.

I think perhaps that those thinking that the Messiah is returning and the earth is going to become a paradise, just seek solace for having wasted their whole earthly existence following a barbaric, corrupt God.

We're all worm food eventually. Cold hard fact. View Image

disclaimer: this is NOT a real corpse, just Hollywood magic.
futilevoice On October 07, 2016

Deleted



, Illinois
#13New Post! Nov 29, 2011 @ 21:04:51
We seem to have such short memories. This has all happened before and the world carried on.
What about the Great Depression of 1929? It was also global and God did not come and save us then.
sAeGeSpAeNe On October 05, 2021
Part-time Nidologist





The other Bristol..., Connecti
#14New Post! Nov 29, 2011 @ 22:28:25
What hope is there? I hope it crashes later, rather than sooner, so that there might be a chance that I don't have to witness the hardship that is coming.....
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