Ongoing massive credit crunch In Europe

[Anonymous No.55674868]

Bank lending continues to contract in Europe as demand for loans there have plummeted to the worst in ECB's history

Source: https://www.ecb.europa.eu/stats/ecb_surveys/bank_lending_survey/html/ecb.blssurvey2023q2~6d340c8db6.en.html

Without Europe the world's economy is pretty much done

[Anonymous No.55674886]

>>55674868
Can you ELI5 what would happen to my low cap crypto portfolio?

[Anonymous No.55674891]

>>55674886
I'm European. It's 4:06 AM here.

[Anonymous No.55674913]

>>55674886
>>55674891
low cap cryptos are low liquidity poker chips, they can 5x tomorrow or go to 0 tomorrow regardless of what happens in the real world.
I'm also European, what you need to understand is that the coming financial crisis will be far worse than the one that happened here in 08 (and 11)

[Anonymous No.55674950]

>>55674913
Ok so best case scenario is my low caps turning me a millionaire while a huge crisis hits my country so I can buy cheap houses and create an empire.

[Anonymous No.55674959]

>>55674950
Yeah pretty much

[Anonymous No.55675001]

>>55674913
>>55674868
Im european too and my entire networth is on monetary funds to take advantage of the climbing interest rates. I don't expect much risk from this because if these funds collapse then we are on world war 3 all things considered.

My goal is to send my money to the sp500 when the supposed crash comes and so far all these doom and gloomers have costed me money by being on this defensive position.

My last hope is that history repeats itself and once FED starts lowering rates it would mean shit is about to hit the fan. Here is when I start buying SP500 and possibly some riskier shit like individual stocks or even bitcoin.

I have 380k to my name and I need to 2x this as I have no income now and im half aspie/retarde and cannot hold a job. Asking what you think since everyone else are burgertards looking for the next x1000 scam.

[Anonymous No.55675059]

>>55675001
>Asking what you think since everyone else are burgertards looking for the next x1000 scam.
We are at that part where central banks start lowering rates as they see unemployment rates rise (look at loan and delinquency data), my opinion is wait on cash (or cash equivalents like you're doing) as the market correction will come (it might take a year but it will happen in the near term), the s&p500 is a good choice and if you want higher risk go pick stocks or go for Bitcoin (like you said), all said and done you're doing great imo

[Anonymous No.55675085]

>>55674868
what will happen to interest rates? what should I stockpile?

[Anonymous No.55675177]

I don't want to be rude, but just what does Europe do economically?

[Anonymous No.55675257]

>>55675177
exploit africa

[Anonymous No.55675325]

>>55674913

Of course it will be worse than 2008. Not as bad as 1929 but worse than 2008 though for sure. Probably the 2nd worse drop ever.

[Anonymous No.55675527]

>>55675059
Well im extremely stressed since I lost my only source of income ever. I was making big bucks, now im making around 700€ a month from the monetary funds. I live with mom and have no job experience. I Must at least 2x my money, in Spain should be enough. My plan would be to have 700k on the SP500, then basically liquidate 3% a year. According to my research, you have like 99% chances of never lowering your principal and even continue doing compound interest overtime.

I have seen people saying how dividends are better but they come across to me as smartasses trying to do stock picking.

The div paying SP500 aristocrats thing pays 2% a year. I don't see the benefit over an index fund, where i control the dividend I get paid in % terms. Also here in Spain we pay 0 tax when going between index funds, but you get fucked the moment you want to switch between an ETF and something else.

Btw how do you rate the NASDAQ? I was considering that as an intermediate gamble between SP500 and going to TSLA or whatever.

>>55675325
How tho? they have said that there aren't as many derivative instruments at play here, that everything is better accounted for, no surprises. The debt has 3x but that shouldn't be as bad as clusterfuck from 2008 afaik.