What timescale for real financial collapse?

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   Electro-Denizenposted 12 years ago

   What timescale for real financial collapse?
   
   The 2008 financial crisis was in some ways the diagnosis of an illness. However, apart from printing off more money and borrowing more, no real solutions have been found. Everyday the mega debt bubble, both in the US and abroad gets bigger and bigger. None of these can ever be repaid, unless the Icelandic approach is taken. If nothing is done, when do you think the financial meltdown will really come to pass? And what do you think will happen?
   
   Or, do you think our financial systems are repairable, and that there is no imminent meltdown?

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2. 0

   Lizam1posted 12 years ago

   Great question - if only I had a crystal ball.  It seems to me that we have been building a house of cards for many years, some of them topple - 2008 and then we re-build, problem is the foundations are non existent.  I think there will be a huge change at some point this century which will be the end of the current status quo in terms of the American Empire and a new empire will step into take its place.  This is how history works - I hope the disaster is only financial and not one of major war.  Looking on the bright side, whenever things fall apart, we are a resilient race so we will rebuild, just differently.

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      Electro-Denizenposted 12 years agoin reply to this

      I think you're right about human resilience and that it'll just be rebuilding but differently

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3. 35

   wqaindiaposted 12 years ago

   I think barter system will make the financial systems fool proof and it will emerge as strong financial system where abundance and scarcity will meet each other with open arms. All paper currencies be withdrawn immediately or there should be one and one new paper currency named as "roller" throughout the world. Existing stocks of paper currencies of the world be exchanged in the similar way as if some big corporate issues its own shares in some proportion while taking over smaller corporate. But the big question is as to who will control the minting of money, Google, Yahoo, Twitter or Facebook.

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      Electro-Denizenposted 12 years agoin reply to this

      That's an unusual answer, but I somehow like it for its humor and its possibilities!

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4. 82

   Abby Campbellposted 12 years ago

   Hmmm. I believe the financial meltdown is closer than we imagine. We may see very short bursts of economic return, but it will continue to cycle until the meltdown. When this happens, I believe that the world will be in chaos. Because of the chaos, certain leaders will stand up to try to fix the problems. They will create a one world government system where we can interchange monies easily. However, monies will be wrapped up in one card per individual... like a bankcard. Everything important for the individual will be in the bankcard, and it will be the only thing needed to purchase or sell. Identity theft will be limited too because the card will match DNA somehow. Then again, maybe the bankcard will actually be a chip in the hand or forehead.

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      Electro-Denizenposted 12 years agoin reply to this

      I see the book of Revelation here, where no-one can trade without the mark of the beast. A top economist was talking about the necessity of moving toward a single currency for the world. So it's definitely not just fantasy. But to be chipped...??

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   2. 82

      Abby Campbellposted 12 years agoin reply to this

      My human mind thinks it's scary to think we could be living the last days. However, I have HOPE when I think of the BIG picture.

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