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/biz/ - Business & Finance

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File: 34 KB, 420x579, theeconomist-phoenix_get_ready_for_world_currency_by_2018.jpg [View same] [iqdb] [saucenao] [google]
1832718 No.1832718 [Reply] [Original]

Will we have an economic collapse as people have been predicting for some time now? Is the total amount of debt unsustainable? Is the market really fake? Or is it just fearmongering and conspiracy nonsense?

The 1988 Economist cover said "Get ready for a world currency in 2018" Could their prediction be right, or is it just hogwash?

>> No.1832766

>>1832718
Maybe.

>> No.1832812

>>1832718
Depends on your definition of near future.
>Fertility is below replacement in every western country.
>Social security and welfare are unsustainable.
>Public debt is ballooning.
>Industry is leaving (toward cheaper labor).
>Government is unwieldy and wasteful.
The trend might be sustainable for a few decades, but not long term, at least not without a paradigm shift.

There probably won't be a huge collapse, at least not for a while. Good jobs will be scarcer. Everything will be more expensive. The government will be more intrusive and self-serving. You will only get justice from the courts if you have good lawyers and money. Infrastructure will start falling apart (sometimes literally, as in Minneapolis in 2007).

You've probably already noticed some of this, but it will become increasingly hard to ignore. If you drive through middle America, you can literally see it happen.

>> No.1833161
File: 136 KB, 500x339, gold and silver.jpg [View same] [iqdb] [saucenao] [google]
1833161

>>1832718

We haven't even recovered from the 2008 recession, the "recovery" is entirely superficial and only due to printing currency and this QE bullshit. We also now have a student loan bubble and bond bubble on top of that. Trump wants to cut the budget here and blow it up there.

I don't think we'll go full Venezuela in the next 2 years, but we will inevitably take a hard hit.

I'm comfy with my silver and gold as insurance.

>> No.1833170

I fully expect a state backed crypto to come out in the next decade when they are done fucking the dollar

It'll be the next ponzi and the cycle will continue

>> No.1833186

>>1833170
>A state backed crypto
>A state backed
>A state
>state

kinda defeats the purpose don't it?

>> No.1833211

>>1832718
BTC by default.

>> No.1833236

>>1832718

https://youtu.be/Pl8OlkkwRpc