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originally posted by: dawnstar
a reply to: texasgirl
they allow tiny homes in your area?
if we (by we I mean my sons and me) get our crap together (and by that I mean mostly if my kids could) maybe two or three acres of land and well a tiny house for each of us would be nice, then well when needed, there's be plenty of space to build a larger home when they needed more space. heck for me, that small little tiny house would do nicely.
another option if one had the money to do it, would be to build a larger house, with a large kitchen and living room for all to use, but then small kitchettes, bedrooms, and baths on the four corners, with three entryways.
The world faces a growing “risk of economic derailment” and needs immediate action to boost demand,
Policymakers around the world need to take urgent action
It is not alone. The OECD on Tuesday said leading indicators pointed to easing growth in the UK, US, Canada, Germany and Japan.
José Viñals, the IMF’s financial counsellor, said the threat of instability and recession hanging over economies including China, Brazil, Turkey and Malaysia was one of a “triad of risks” that could knock 3% off global GDP. The second, he said, was the legacy of debt and disharmony in Europe, while the third is centred on battered global markets that are more likely to transmit shocks rather than cushion the blow.
At the very least, central banks would need to remain vigilant and be prepared to increase their stimulus programmes should difficulties in emerging market countries spill over into the financial system. Addressing the prospect of an interest rate rise in the US, Viñals said there was little reason to tighten monetary policy before Christmas while inflationary pressures and wage rises remain low. “The risks of a premature tightening are greater than those of waiting two or three more months,” he said.
The warning follows a summer of turmoil in global markets triggered by China’s attempt to increase its flagging exports with a currency devaluation. The move sparked panic in stock markets, which tumbled around the world, as investors recognised for the first time the impact of China’s slowing economy. Earlier this week, the IMF downgraded its forecast for global growth in 2015 to 3.1%, which would mark the weakest performance since the trough of the downturn in 2009.
And most worryingly, for everyone, "wars are, unfortunately, a very convenient solution to a lot of the problems that governments face." Erik and Grant's conversation is must-view as they discuss:
The likelihood of a US recession
The unsustainability of global credit growth
The continuing erosion of faith in central bankers
The response to negative interest rates in Japan
The excesses promised by politicians to citizens of Western Democracies
"The Consequences of Economic Peace" Big Cyles, Kondratieff Waves,
The Laws of Nature
The similarity between current times and the lead up to WWI
Thinking about outcomes we'd rather not and assigning probabilities accordingly
Highlights include: 19:30 - “The problem that many people have is that they think that 2008 was ‘the event’ and that it cleared the brush and we’re back to a sustainable path, but nothing could be further from the truth.” 20:05 - “The glue that binds all of this together, unfortunately for everybody, is faith in central bankers.” 20:30 - “I think when you look at it and you look at the chances of these guys being able to fix this, they are very slim indeed.”
Trump win of the Presidency will expose the past 8 years of economic propaganda.
is the boom of the last 10-12 years was fuelled by the Chinese buying raw materials in vast quantities.
JPMorgan has already agreed to pay $13 billion . of his bank because prosecutors are not yet certain of their findings, people familiar with the matter said. Dimon has negotiated a tentative $13 billion deal to settle many of the U.S. investigations into mortgage bonds that JPMorgan – and the banks it bought during the financial crisis – sold to investors. Finally we are talking about a fine that might sting a little. The previous fines Wall Street banks have paid have been laughable. But a $13 billion fine would be more than half of JPMorgan’s profit last year. Serious money. Though apparently JPMorgan thinks it might have to pay even more for its wrongdoing. JPMorgan has set aside a total of $23 billion to pay for legal issues, and faces more than a dozen probes globally. What kind of business needs that much money to deal with criminal investigations and lawsuits? A criminal enterprise? The fraudulent mortgage derivatives JPMorgan and other Wall Street banks sold to investors helped trigger the 2008 financial crisis when the fraudulent loans went bust and no one had enough capital to cover the losses – despite AIG providing insurance in the form of credit default swaps on the mortgage derivatives. AIG, as we all know now, was incredibly reckless and was unable to cover the derivatives it had insured. Ultimately the Too Big To Fail banks received billions from the taxpayers with TARP and over a trillion dollars from the Federal Reserve in the form of secret loans. No bankruptcies for the banks but plenty of painful foreclosures for homeowners who did nothing wrong.
While elements of the above problems were present in Australia, they were present to a significantly lesser extent than in many other developed countries. One significant factor contributing to their absence was that the core of the Australian financial sector has remained highly profitable from lending to households and businesses with, for example, the larger Australian banks able to deliver pre-tax rates of returns on equity of well over 20 per cent for many years. Hence there was no need for these institutions to engage in any search for yield outside their traditional realm. As Australian financial institutions had minimal exposure to the securities that have beset other financial institutionsand had solid balance sheets (as documented in the FSR), there has been considerably less concern about counterparty risk in local markets.
originally posted by: chuckk
a reply to: hopenotfeariswhatweneed
No, global collapse is forecast to be near term, before Trump becomes President. It is going to be difficult to stop unless we change to increase citizen disposable income.