Hearing the truth is almost strange

[AllNightDayDream]

personally i just wouldn't bother saving up too much money- interest rates on savings are shit. its a good time for borrowing- get all the loans/mortgages you can, if it crashes and you can hold onto stuff without it being re-possessed then you'll be in the money once it recovers (just like people have done in past recessions), if you lose the stuff then who cares- bankruptcy is the cool law that says don't worry about it (according to homer simpson anyway) .

This is literally the worst thing you can do.

What makes this recession so much like the depression of the 30s and unlike others is that it's a crisis in a line of credit. Various institutions are still falling in the line of dominos the housing market knocked over, and there is plenty of downward slope for us to fall into. More and more it's impossible to survive without taking on credit, impossible to get a car, a student loan, mortgages... All this credit is being leveraged en masse, you can think of it as stacking more dominos in a chain of what is thought to be a good investment, and just like with the housing bubble, if that first domino falls, it can take entire industries down with it.

The government CAN enact policies to cushion the fall... but chances are they won't. From what i've read I don't think there's even a governing body granted the powers to fix your problems in the EU, short of germany or someone else pumping their own money into it. Obviously this guy has a stake in a recession, but fear feeds into itself and all this talk about living like a hermit is precisely the kind of panic that's going to exacerbate his gleefully anticipated depression. There's no better manifestation of self-fulfilling prophecies than in economics crises.

There are a few industries that are suspect to this massive and dangerous leveraging, IMO student loans are a perfect example. But I think if we learn from recent events and keep our eyes peeled for clues while making sound moves on monetary policy, we can instill some degree of confidence and cushion this fall just like the last one.

I've only recently read on the european situation, so maybe someone else can enlighten me, but from the sound of it your whole EU agreement is beginning to show its holes.

agree with everything you're saying
but wanting to extract yourself from system and "live like a hermit' as you put it, is not a sign of panic, more so a sign of common sense. The people who will panic will be the ones who'll spend their life savings on gold and silver, or start rioting in the streets

I see what your saying. TBH the hermit life doesn't sound so bad. Perfect environment to make tunes

The more I think about this the more obvious it is this guy's a snake oil salesman

[Mr Hyde]

I see what your saying. TBH the hermit life doesn't sound so bad. Perfect environment to make tunes

That is the short sightedness of these sort of plans though, how do you get a computer built if everyone lives out of the system- if its just you living out of it while other mugs work in the factories and shops/development/mines/power stations to build your goods then you aren't really living out of the system at all- just scavving off it.

[AllNightDayDream]

I see what your saying. TBH the hermit life doesn't sound so bad. Perfect environment to make tunes

That is the short sightedness of these sort of plans though, how do you get a computer built if everyone lives out of the system- if its just you living out of it while other mugs work in the factories and shops/development/mines/power stations to build your goods then you aren't really living out of the system at all- just scavving off it.

Well a guitar would suffice for me, but then again I live in the states so collapse is much less imminent.

If anyone decides to move, i'll be the first to tell you houses are cheap over here!

[dreamizm]

get all the loans/mortgages you can, if it crashes and you can hold onto stuff without it being re-possessed then you'll be in the money once it recovers (just like people have done in past recessions), if you lose the stuff then who cares- bankruptcy is the cool law that says don't worry about it (according to homer simpson anyway) .

Stop talking please.

So much nonsense on this thread.

The guy speaking on BBC is clearly a small fry - for god's sake he is an 'independent' trader, he is not even linked to any of the big banks. People that beg it this much and give everything away so easily are usually well outside the loop.

Of course a minority want to, and are prepared to, make money out of a downward market - this is a large part of what hedge funds do - but to assume this is all wall street or even global markets want is just crazy. Even hedging and short-selling has been limited since 2008.

Markets have always been driven by either greed or fear, bull or bear. The banks do have too much power but the doomsday scenarios are only helping idiots like this.

[Mr Hyde]

get all the loans/mortgages you can, if it crashes and you can hold onto stuff without it being re-possessed then you'll be in the money once it recovers (just like people have done in past recessions), if you lose the stuff then who cares- bankruptcy is the cool law that says don't worry about it (according to homer simpson anyway) .

Stop talking please.

So much nonsense on this thread.

The guy speaking on BBC is clearly a small fry - for god's sake he is an 'independent' trader, he is not even linked to any of the big banks. People that beg it this much and give everything away so easily are usually well outside the loop.

Of course a minority want to, and are prepared to, make money out of a downward market - this is a large part of what hedge funds do - but to assume this is all wall street or even global markets want is just crazy. Even hedging and short-selling has been limited since 2008.

Markets have always been driven by either greed or fear, bull or bear. The banks do have too much power but the doomsday scenarios are only helping idiots like this.

Telling me to stop talking is just like asking me to stir shit with you. I don't see much that I said really contradicting what you are saying and wasn't being all that serious quoting advise from homer simpson- but if you want to get talking all serious economics I've just finished an MSc in environment and development (which was mostly economic and development theory) so reckon can out big dick you with economic theory talk if you want, but all anyone does in those sort of discussions is reach for the quick google quotes.

Come at me prick.

[hackman]

I see what your saying. TBH the hermit life doesn't sound so bad. Perfect environment to make tunes

That is the short sightedness of these sort of plans though, how do you get a computer built if everyone lives out of the system- if its just you living out of it while other mugs work in the factories and shops/development/mines/power stations to build your goods then you aren't really living out of the system at all- just scavving off it.

that's a short sighted argument

and yes they are mugs:

Getting a job and trading your time for money may seem like a good idea. There’s only one problem with it. It’s stupid! It’s the stupidest way you can possibly generate income! This is truly income for dummies.

Why is getting a job so dumb? Because you only get paid when you’re working. Don’t you see a problem with that, or have you been so thoroughly brainwashed into thinking it’s reasonable and intelligent to only earn income when you’re working? Have you never considered that it might be better to be paid even when you’re not working? Who taught you that you could only earn income while working? Some other brainwashed employee perhaps?

Don’t you think your life would be much easier if you got paid while you were eating, sleeping, and playing with the kids too? Why not get paid 24/7? Get paid whether you work or not. Don’t your plants grow even when you aren’t tending to them? Why not your bank account?

Who cares how many hours you work? Only a handful of people on this entire planet care how much time you spend at the office. Most of us won’t even notice whether you work 6 hours a week or 60. But if you have something of value to provide that matters to us, a number of us will be happy to pull out our wallets and pay you for it. We don’t care about your time — we only care enough to pay for the value we receive. Do you really care how long it took me to write this article? Would you pay me twice as much if it took me 6 hours vs. only 3?

Non-dummies often start out on the traditional income for dummies path. So don’t feel bad if you’re just now realizing you’ve been suckered. Non-dummies eventually realize that trading time for money is indeed extremely dumb and that there must be a better way. And of course there is a better way. The key is to de-couple your value from your time.

Smart people build systems that generate income 24/7, especially passive income. This can include starting a business, building a web site, becoming an investor, or generating royalty income from creative work. The system delivers the ongoing value to people and generates income from it, and once it’s in motion, it runs continuously whether you tend to it or not. From that moment on, the bulk of your time can be invested in increasing your income (by refining your system or spawning new ones) instead of merely maintaining your income.

This web site is an example of such a system. At the time of this writing, it generates about $9000 a month in income for me (update: $40,000 a month as of 10/31/06), and it isn’t my only income stream either. I write each article just once (fixed time investment), and people can extract value from them year after year. The web server delivers the value, and other systems (most of which I didn’t even build and don’t even understand) collect income and deposit it automatically into my bank account. It’s not perfectly passive, but I love writing and would do it for free anyway. But of course it cost me a lot of money to launch this business, right? Um, yeah, $9 is an awful lot these days (to register the domain name). Everything after that was profit.

Sure it takes some upfront time and effort to design and implement your own income-generating systems. But you don’t have to reinvent the wheel — feel free to use existing systems like ad networks and affiliate programs. Once you get going, you won’t have to work so many hours to support yourself. Wouldn’t it be nice to be out having dinner with your spouse, knowing that while you’re eating, you’re earning money? If you want to keep working long hours because you enjoy it, go right ahead. If you want to sit around doing nothing, feel free. As long as your system continues delivering value to others, you’ll keep getting paid whether you’re working or not.

Your local bookstore is filled with books containing workable systems others have already designed, tested, and debugged. Nobody is born knowing how to start a business or generate investment income, but you can easily learn it. How long it takes you to figure it out is irrelevant because the time is going to pass anyway. You might as well emerge at some future point as the owner of income-generating systems as opposed to a lifelong wage slave. This isn’t all or nothing. If your system only generates a few hundred dollars a month, that’s a significant step in the right direction.

[Mr Hyde]

Yeah hackman, I get that there are ways of making money without doing a 9-5 for a big corporation (although you still have to put the work into creating the system in that article), but that is still making money and being part of the bigger economic system- you still to be getting money from others and need electricity, and computers, and a house to live in, there needs to be a primary source of wealth.

People have been going on about being self-sufficient for ever, of course it could work if everyone could have enough land (which I don't think we could now), but you'd have to do away with all the benefits of society as well that I mentioned (medical care, transport, electrical goods, utilities etc), can't just sit on the high horse calling society stupid and saying people should live in communes while you still consume things that need a bigger society to produce.

[danoldboy]

Could be a troll of the highest order

http://www.thejournal.ie/is-alessio-ras ... 0-Sep2011/

[brasco]

Could be a troll of the highest order

http://www.thejournal.ie/is-alessio-ras ... 0-Sep2011/

those videos... hmm ...don't look like the same guy to me, even with makeup etc.

[AllNightDayDream]

Could be a troll of the highest order

http://www.thejournal.ie/is-alessio-ras ... 0-Sep2011/

Very plausible

[TomatoAndBasil]

Depends whether you believe this is the same person...

[Raggles]

Fuck thinking about what you should do with your savings and start buying up decent quantities of the following: Rice (lasts for a long time and is an easy food to store), Coffee (things like this are always worth a lot to people in a market crash), Chocolate (same reasons), Tinned food with a long shelf life, and other products of a similar nature.

I know that you have all been prepared for this but, I thought i'd remind you just the same.

Fuck that I'm stocking up on vodka and ammunition.

[magma]

The guy makes a few pretty valid points, but is clearly very clouded by his ability to make cash during a crash - if I was in his position, I'd be making shocking predictions as soon as I got on telly too. He probably even had a noticeable market impact.

So yeah, he does get it (and probably realises the situation is more subtle than he said)... but what a tnuc!

[hackman]

Yeah hackman, I get that there are ways of making money without doing a 9-5 for a big corporation (although you still have to put the work into creating the system in that article), but that is still making money and being part of the bigger economic system- you still to be getting money from others and need electricity, and computers, and a house to live in, there needs to be a primary source of wealth.

People have been going on about being self-sufficient for ever, of course it could work if everyone could have enough land (which I don't think we could now), but you'd have to do away with all the benefits of society as well that I mentioned (medical care, transport, electrical goods, utilities etc), can't just sit on the high horse calling society stupid and saying people should live in communes while you still consume things that need a bigger society to produce.

i think your forgetting that this thread is about a potential economic crash that would render a lot of the things your listing as useless
and anyway a lot of the things you have listed are unessential or things i could happily without

and yeah there is something definitely weird about this guy, but i still think there's chance it could happen so why not prepare a bit with certain things, and if nothing happens you're no worse off and if anything a bit wiser

[WhosZena]

Someone posted on facebook that he was an actor, part of some truth group. who knows?

All I know is self sufficient is the way forwards (or backwards considering how we started off) .. well thats if you dont want to be fucked by people you will never meet.

[kay]

[quote="Stiletto Feel"]Depends whether you believe this is the same person...

Ears are different.

[zerbaman]

Dude on top also has wrinkles around mouth/nose area

[noam]

clearly not the same guy

so many facial differences

[brasco]

Different ties also

seriously though, not the same guy

[zerbaman]

Different ties also

seriously though, not the same guy

They could have just been on different days lol

On that note, the background is different too...