[Breaking News] Stocks close at lowest point since '97

Originally posted by seb118
reply to post by sezsue

 

Which makes think that there will be a rush to country side. In my country, farm land remains high, for some reason whereas all other real estate is going down.

I feel tempted to do so: a few acres, our own organic food, working via computers with companies...

pb : I d have to shoot down beggars and raiders every now and them

or then participate to some charity / relief programme to keep them not too hungry/greedy.

In short, back to middle ages.

Me too, I've been wanting to...but everybody in my family already thinks I'm a bit crazy for talking gloom and doom, not that I live my life that way. But they say stuff like, "you can't believe everything you read on the internet, LOLOL!!

Actually, one of the biggest ones who has been saying that to me has lately started buying guns and ammo, lol....I think he's been reading some of the links I've been sending him.

And really, I think it's way bigger than just the Financial collapse, probably the best thing we can do right now, is just pray.....

reply to post by sezsue


Well, the meltdown at this stage can still cool off and slow down. There would be 2 -3 years of deep recession.

The problem is if a chain reaction ignites: financial meltdown jump starts economic recession ( already here) but then in turn economic recession send financial system to collapse further. If it bounces back onto economic recession harder, then it s a self propagating cycle. Layers after layers of economic, then industrial activities will be wiped away until the basic needs remain:

- food ( raw , maybe cooked)
- lodging ( I mean shelter)
- clothing in mild latitudes ( nothing elsewhere)
- minimal equipment to ensure three first needs ( horse power, hunting, agriculture, fishing)
- near to feudalism order ( Land belongs to warlords or clans who protect it from neighbours)

Basically we could all go back to say between early 19th century down to middle ages. So pre industrial era.

The consequence is immediate: the surplus of population allowed by indutrial and scientific development will have to be also wiped out, otherwise the system is not sustainable.

It s a terrible pendulum. But it happened to Aztecs, Thai, Siam, Mayas, etc etc. THey lost their civilization (way before sometimes white people came) and exactly for the same reasons : stretching the exploitation of their societies off the limits. This is not a theory, it s documented by historians.

As of right now it looks to be recovering nicely, almost 100 points up on the day.

You can't make these wild predictions any more, the market is in flux, the big drop has already happened.

If it drops significantly below 7,000 - say to 6,500 then you can start up the doom mongering again with some level of justification.