Thank you Asian for this valuable info. I'm in the same delemma has many. What to do with the meager savings I do have. How to keep it safe for future use. Maybe money will be worthless and we will be on a barter system instead. Would love this dialogue to continue.
Wow that's scary in how the market is likely to collapse in the future. One item to consider though is that Argentina went through a collapse a while ago and I found a blog by a person who went through it at http://ferfal.blogspot.com/
Basically in that blog he says even though finances can collapse, ultimately life still goes on. People still have to go to work, pay bills, and deal various day-to-life tasks. It's just more difficult and ultimately you just have to adapt.
I just can't see how a bear market would destroy capitalism because for one thing how will people get food, clothes, etc... How would I pay my mortgage? Just too many questions here.
Thank you Asian. A few nights ago I had an unusually vivid dream that overnight the US stock market dropped hundreds of points, and that was just the start. I'm not a seer, and I don't know if the dream was prophetic or just me worrying. That said, I feel in my bones that something very hard is on the horizon for our economy, our government and our way of life here in the U.S. Now that Obama and his enormous "make do" energy has been removed from our government, we're likely to see more and more signs of dysfunction, unraveling and corruption. Trump's ability to easily and openly co-mingle his businesses with governing, install his family into positions of power, and to favor the interests of a foreign power is beyond alarming.
I can't see "capitalism" being destroyed per se. What I would expect, however, are major disruptions to our current patterns of trade. In 2008 there was such a disruption in the credit markets that banks couldn't make good on company's lines of credit which just about shut down much of the economy. I wouldn't worry about our bank accounts but I would worry about our money market accounts (as they are not insured) and the potential for a devaluation of the US dollar (which would lower our standard of living).
Reply to michele bileyu:-
I can't say for sure whether it's impact will be greater than great depression. Best to left it for future. However, it's impact will be great, far greater than 2008. It will take time to spread in other countries, that's why I said 2021-22. Impact wise, some countries will be hit lesser than others some more.
Reply to PracticalNihilist :-
when I said capitalism will be destroyed, I should have phrased it better. Capitalism as we know it will be destroyed. Smith known as the father of capitalism, published his book "wealth of nations" at 9th march 1776. Pluto was at 28th degree of capricorn.
Pluto's ultimate goal is evolution, for which death of old system is necessery. Both USA and capitalism will be reformed for better. You are assuming either we are going back to stone age or civilizational collapse. Neither is true. And, it will be more than bear market.
Now pluto is in capricorn, the sign of big business. Pluto will change the way business is being conducted.
The main issue is not capitalism, it is accumulation of resource and wealth in the hands of a few. Corporate class are the driving force behind goverments. They have replaced aristrocracy. Common man who produces goods, should have gotten larger share of profit. Instead it goes to boss. Same inequality, business is being conducted for profit not as meaningful work for society. Regardless of the negetive environmental effects, minimal concerns about workers and working conditions, businesspeople have priotarized creating wealth. For that materilism have increased, society have learned road to happiness is through consumption. However income inequality and poverty did not decreased.
Pluto works slowly. However, what it destroys, don't ever returns. Pluto will go to aquarius at 2024. Last time at late-1700 it started industrial revolution in england. This time too there will be a revolution. It will see hand-held technologies becoming fully mainstream, rise of robotics and AI. Already in people are being replaced for robots(in smaller number). With an ever increasing population and oncoming food-crisis, current business and trading system will go down post 2024(when pluto goes to aquarius).
Smith in his book argued that instead of gold and silver stocks, wealth should be measured in productivity and commerce. In future productivity will be for creating income to sustain populace not profit, however for that current centralized system needs to break and became decentralize. It will happen in next 10-12 years. Increasing digitization will serve as connecting medium of free market. Many current international institutions will be reformed and many govts will disappear, so less intervention. Ultimately this is pluto so the change is slow. It won't even effect people in every country similarly somewhere less somewhere more. However it is happening. The climax of 1780's revolution.
Now for the crash. Uranus is moving to taurus in mid-2018. The sign of finance, banking and earth and nature. By nature uranus is disruptive and shcoking. The change happens during the transit is abrupt and some times violent. Though good for longrun it is tough to tackle when it happens. 2018-19 stock market will be volatile, more in 2019. But, crash happens in 2020 or very late 2019. Either way global market will be in large problem at that time. Cause of crash will be rising debts and collapse of shadow banking system.
Adding to the problem, saturn will go to capricorn in 2020. Saturn-pluto cycle is known for hard truths emerging, eruption of social poison, war, showdowns, clashes, unavoidable faliures.If not anything govts will be more heavy handed with public and tough banking regulations are sure to follow. This time probably a total global financial reset will take place like 2008 that won't change 99%'s condition.
A mass dissent will follow this time. Also, many scandals regarding govt institutions will get leaked, police state should be in full force. Like monarchies govts will be desparate to protect their power.
There are other things which will be running that time. Food prices will steadily go up, social, political instability and war tensions in international scene will be all time high(a reason why stock markets won't go back up like last time among others).
Good thing is alternative finance will get a good boost because of tough banking regulations. Digital cash and crowd funding will be main stream by 2026(sign of decentralization). People will start to see climate change as a serious threat.
Hi Michele:
I think the key is community. Know your neighbours. Trade, barter. Try Timebank, Mutual Aid networks, follow Stephanie Rearick. Cryptocurrency sounds daunting, but isn't that hard to figure out. Hedge. Buy a little foreign currency and keep it in a virtual wallet. Build redundancy into your personal systems. There is a quiet revolution going on already. My suggestions, and what I'm trying to do. Best.
Ran across this article just now. Seems investment bankers are starting to worry. The "quantitative easing" they refer to was a program of the US Federal Reserve that sought to "inflate" the economy after the '08 crash by essentially printing money. They have been "mopping it up" lately but that has its own risks.
https://www.thetimes.co.uk/article/markets-set-to-fall-after-years-of-artificial-support-b68vsghx0
Great conversation! After reading Lilo's suggestions, then your link, Paul. I saw this. https://cointelegraph.com/news/china-quietly-tests-digital-hybrid-currency
Interesting times....