Financial Crisis

[mccw]

Not sure if this has been posted previously .. but an interesting presentation ...

'In this video Chris Martenson, economic analyst at http://chrismartenson.comand author of 'The Crash Course', explains why he thinks that the coming 20 years are going to look completely unlike the last 20 years. In his presentation he focuses on the so-called three "Es": Economy, Energy and Environment. He argues that at this point in time it is no longer possible to view either one of those topics separately from one another.'

Interesting silence in response to that.

Looks like he's got all the evidence laid out clearly backing up what many of us have been talking about. That this is a new era we are in and new thinking required.

Following on from what he's saying about a finite world of resources, unable to keep up with exponential growth, the questions arise how can one profit from this?

It seems commodities will become more valuable, while companies producing products must accept lower margins due to higher costs, so equities would not be a good bet mid to long term no matter how much QE there is; when the fundamentals of the new reality are realised by the wider market.

Need for a new way of organising society. Ideas?

state management of labour and resources

-War

-Or an acceptance of mass unemployment, increasing social unrest and lawlessness kept just enough under control for the shrinking ranks of wealthy to continue life and elite to maintain power.

-A kind of new age feudalism

-Release of a plague only the selected are given the vaccine for.

[mccw]

Really I think a slow struggling on will go on for foreseeable future, decade or two or three, while living standards fall and people make hard choices eventually down to between food or energy, moving from meat to vegetables. For some these kind of situations are already here but it will spread and worsen.

Until a new energy source is found I think. Fusion power perhapse ushers in a new golden era before its too late.

[yoshiwara]

Interesting silence in response to that.

Looks like he's got all the evidence laid out clearly backing up what many of us have been talking about. That this is a new era we are in and new thinking required.

Following on from what he's saying about a finite world of resources, unable to keep up with exponential growth, the questions arise how can one profit from this?

It seems commodities will become more valuable, while companies producing products must accept lower margins due to higher costs, so equities would not be a good bet mid to long term no matter how much QE there is; when the fundamentals of the new reality are realised by the wider market.

Need for a new way of organising society. Ideas?

state management of labour and resources

-War

-Or an acceptance of mass unemployment, increasing social unrest and lawlessness kept just enough under control for the shrinking ranks of wealthy to continue life and elite to maintain power.

-A kind of new age feudalism

-Release of a plague only the selected are given the vaccine for.

Quite an impressive bunch of fruitcakes they have there on zerohedge and this one just in time for Halloween.

[mccw]

Interesting silence in response to that.

Looks like he's got all the evidence laid out clearly backing up what many of us have been talking about. That this is a new era we are in and new thinking required.

Following on from what he's saying about a finite world of resources, unable to keep up with exponential growth, the questions arise how can one profit from this?

It seems commodities will become more valuable, while companies producing products must accept lower margins due to higher costs, so equities would not be a good bet mid to long term no matter how much QE there is; when the fundamentals of the new reality are realised by the wider market.

Need for a new way of organising society. Ideas?

state management of labour and resources

-War

-Or an acceptance of mass unemployment, increasing social unrest and lawlessness kept just enough under control for the shrinking ranks of wealthy to continue life and elite to maintain power.

-A kind of new age feudalism

-Release of a plague only the selected are given the vaccine for.

Quite an impressive bunch of fruitcakes they have there on zerohedge and this one just in time for Halloween.

What are talking about zero hedge for? I'm talking about the "crash course"

[cloudhopper]

I'm talking about the "crash course"

Truly invaluable.

[Naam]

Release of a plague only the selected are given the vaccine for

who would then do the shit work for the selected ones?

[midas]

Release of a plague only the selected are given the vaccine for

who would then do the shit work for the selected ones?

.................this would be done by the world's most highly-trained, strongest, tireless, and resilient workers

http://www.wealthwir...ews/global/3708

Edited October 1, 2012 by midas

[midas]

Managing the Transition to a Workerless Society

"There are 3 and a half million truck drivers and they will be impacted by this technology. .... We are going to transition into an economy that is very productive and just does not need a lot of human workers. Managing that transition is going to be the greatest challenge that our society faces" says McAfee.

"If these predictions are accurate, that gap is not going to close. The problem is I do not think these predictions are accurate. In particular, I think my projection is way too optimistic. ... Because when I look around I think we ain't seen nothing yet when it comes to technology."

http://globaleconomi...win-apples.html

The study paper -- 'Skills Gaps in the Indian Logistics Sector' -- estimates that currently India has only some 3 million truck drivers for medium and heavy commercial vehicles. numbers as of 2007.

http://www.rediff.co.../17truckers.htm

Commercial Drivers USA 4,801,733

http://ai.fmcsa.dot....ct=GenStats.asp

By inserting your quote I don't understand the point you are trying to make?

Are you trying to suggest Western drivers would plug the gap in India? Bit of a problem there!

Salary of truck drivers in India 8000rs ( which is equal to $95 US )and you don't call it

work you call it slave labour because they are on the road like double the amount of time allowed in the West.

Salary of truck drivers in USA is $66,000 or $5500 per mth

salary of for truck driver in Europe is - 2229 EUR per mth

Edited October 1, 2012 by midas

[Naam]

Release of a plague only the selected are given the vaccine for

who would then do the shit work for the selected ones?

.................this would be done by the world's most highly-trained, strongest, tireless, and resilient workers

http://www.wealthwir...ews/global/3708

Robot Workers... giving blowjobs?

[Naam]

By inserting your quote I don't understand the point you are trying to make?

the point i am trying to make is to prove that

There are 3 and a half million truck drivers and they will be impacted by this technology.

is rubbish as in the U.S. only there are more than 4 million truck drivers.

[midas]

Release of a plague only the selected are given the vaccine for

who would then do the shit work for the selected ones?

.................this would be done by the world's most highly-trained, strongest, tireless, and resilient workers

http://www.wealthwir...ews/global/3708

Robot Workers... giving blowjobs?

Sex Robots Will Revolutionize Sex Tourism, Report Says (NSFW)

http://www.huffingto..._n_1435606.html

Edited October 1, 2012 by midas

[midas]

By inserting your quote I don't understand the point you are trying to make?

the point i am trying to make is to prove that

There are 3 and a half million truck drivers and they will be impacted by this technology.

is rubbish as in the U.S. only there are more than 4 million truck drivers.

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

Edited October 1, 2012 by midas

[Naam]

By inserting your quote I don't understand the point you are trying to make?

the point i am trying to make is to prove that

There are 3 and a half million truck drivers and they will be impacted by this technology.

is rubbish as in the U.S. only there are more than 4 million truck drivers.

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

and you need reading glasses

in the U.S. only there are more than 4 million truck drivers

[midas]

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

and you need reading glasses

in the U.S. only there are more than 4 million truck drivers

when McAfee ( who is an American) made the statement "There are 3 and a half million truck drivers and they will be impacted by this technology. “ I didn't for 1 min think he was talking about truck drivers globally? 4 million versus 3 and a half million ? So what?

[Naam]

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

and you need reading glasses

in the U.S. only there are more than 4 million truck drivers

when McAfee ( who is an American) made the statement "There are 3 and a half million truck drivers and they will be impacted by this technology. “ I didn't for 1 min think he was talking about truck drivers globally? 4 million versus 3 and a half million ? So what?

next time McAfee makes a statement about American truck drivers which has no bearing on the global financial crisis discussed in this thread i will keep my mouth shut. i might also (or might not) refrain from commenting when bullshit like bitcoins, islamic gold coins and their value in goats in an Allah-forsaken Malaysian State are mentioned or that the municipality of Duluth, Minnesota accepts silver bars or bags of potatoes instead of worthless fiat money as fines to punish those who sing dirty songs in a local bar.

p.s. yes it is obvious that they will develop driverless trucks. but neither you nor me nor any present TV-member will live to see them in Thailand because jobless American truck drivers will emigrate to India

[midas]

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

and you need reading glasses

in the U.S. only there are more than 4 million truck drivers

when McAfee ( who is an American) made the statement "There are 3 and a half million truck drivers and they will be impacted by this technology. “ I didn't for 1 min think he was talking about truck drivers globally? 4 million versus 3 and a half million ? So what?

next time McAfee makes a statement about American truck drivers which has no bearing on the global financial crisis discussed in this thread i will keep my mouth shut. i might also (or might not) refrain from commenting when bullshit like bitcoins, islamic gold coins and their value in goats in an Allah-forsaken Malaysian State are mentioned or that the municipality of Duluth, Minnesota accepts silver bars or bags of potatoes instead of worthless fiat money as fines to punish those who sing dirty songs in a local bar.

p.s. yes it is obvious that they will develop driverless trucks. but neither you nor me nor any present TV-member will live to see them in Thailand because jobless American truck drivers will emigrate to India

Oh really ? An article discussing how technology can result in people losing their jobs permanently doesn't affect the global financial crisis? That's a new one! You mean is less relevant than when you told us about the purchase of your antique carpets?

Edited October 1, 2012 by midas

[mania]

I'm talking about the "crash course"

Truly invaluable.

I agree & given when he first posted the crash course his advice was

very timely & full of good information

[yoshiwara]

By inserting your quote I don't understand the point you are trying to make?

the point i am trying to make is to prove that

There are 3 and a half million truck drivers and they will be impacted by this technology.

is rubbish as in the U.S. only there are more than 4 million truck drivers.

You are missing the point of that article. Who cares what is happening in India?

This is about what economic forces in the USA and Europe can affect salary levels the

number of jobs available and therefore the ability of workers to consume and buy homes.

If salaries in USA are $66,000 it's obvious that sooner or later it will pay to develop driverless trucks?

'Sooner or later' = meaningless prediction.

[midas]

'Sooner or later' = meaningless prediction.

Okay then……. soon

It's a modern gold rush daydream. Get a truck licence, get a job at a mine and make lots of money. But the dream might soon be bulldozed by technology. Mining giant Rio Tinto has just announced plans to use driverless trucks, trains and drills in what's set to become the world's largest robotic mine. Everyone agrees it will change the industry forever.

http://www.abc.net.au/7.30/content/2012/s3436268.htm

US Marines, who have been testing convoys of autonomous Oshkosh trucks.

The Corps announced the completion of their first test of multiple unmanned trucks simulating a cargo convoy using Oshkosh trucks. The test took place at Fort Pickett, Va., from July 24 to Aug. 5.

Oshkosh’s unmanned ground kit can be installed into new and old vehicles, even models other than Oshkosh’s.

http://www.driverlesscarhq.com/marines-set-to-deploy-unmanned-trucks-to-afghanistan/

Driverless tractor

MOORHEAD, Minn. — If you ever imagined what the future of agriculture looks like — driverless tractors crawling across the vast Red River Valley farming landscape — then meet Terry M. Anderson.

http://www.agweek.com/event/article/id/19649/

[yoshiwara]

'Sooner or later' = meaningless prediction.

Okay then……. soon

Kids say they will clean up their rooms soon.

[Naam]

Oh really ? An article discussing how technology can result in people losing their jobs permanently doesn't affect the global financial crisis? That's a new one! You mean is less relevant than when you told us about the purchase of your antique carpets?

don't talk bullshit! i never told you about the purchase of any antique carpets because i bought them decades ago.

by the way, should 100,000 U.S. truckdrivers lose their jobs around the time when your and my ashes have been already converted into a different molecular structure, even then a connection to any prevailing global financial crisis will not be detected.

more gloom&doom information please, e.g.

-what are the latest prices of male goats sold in Papua New Guinea expressed in Islamic Gold Denars and are these prices exacerbating the global economic downturn or perhaps even cause a global recession?

-were the Bilderbergs or <insert malevolent organisation> successful in developing a virus to reduce global population by 83.47%?

-will Idaho sell its potatoes only against payment in precious metals?

-what did <insert name of gloom&doomer> prophesy in <insert yewtoob clip URL> as far as the exploding bar fines in Pattaya's Walking Street are concerned? will it affect the BoT's reserves and Thailand's official inflation rate? did Max Keiser on RT mention anything about the exchange rate Baht/Cowrie shells?

[midas]

Oh really ? An article discussing how technology can result in people losing their jobs permanently doesn't affect the global financial crisis? That's a new one! You mean is less relevant than when you told us about the purchase of your antique carpets?

don't talk bullshit! i never told you about the purchase of any antique carpets because i bought them decades ago.

by the way, should 100,000 U.S. truckdrivers lose their jobs around the time when your and my ashes have been already converted into a different molecular structure, even then a connection to any prevailing global financial crisis will not be detected.

more gloom&doom information please, e.g.

-what are the latest prices of male goats sold in Papua New Guinea expressed in Islamic Gold Denars and are these prices exacerbating the global economic downturn or perhaps even cause a global recession?

-were the Bilderbergs or <insert malevolent organisation> successful in developing a virus to reduce global population by 83.47%?

-will Idaho sell its potatoes only against payment in precious metals?

-what did <insert name of gloom&doomer> prophesy in <insert yewtoob clip URL> as far as the exploding bar fines in Pattaya's Walking Street are concerned? will it affect the BoT's reserves and Thailand's official inflation rate? did Max Keiser on RT mention anything about the exchange rate Baht/Cowrie shells?

Talking about bullshit …………. You are even beginning to sound like one of those bullshit politicians who only always ever talk about ' creating jobs '

' in like manner, the shuttle would weave and the plectrum touch the lyre without a hand to guide them, chief workmen would not want servants, nor masters slaves'

Aristotle

http://www.amazon.com/Race-Against-Machine-Accelerating-ebook/dp/B005WTR4ZI/ref=sr_1_2?ie=UTF8&qid=1319384892&sr=8-2#reader_B005WTR4ZI

[mccw]

Could a monetary system work where currency is created by the government by paying people an amount directly related to hours of work done? Everyone is found a job and paid for it. Private employment continues but all the unemployed must work for the state street sweeping, building etc etc. so new money created free from debt.

I see in Bristol, England, the local council has introduced the "Bristol £" available at 1-1 exchange with the GBP and spendable locally. Part of the government salaries are paid in it and taxes can be settled with it.

So why not take it a step further and make all the benefits lazy layabouts work street sweeping or helping old ladies with shopping, maybe training a bit to help out charities etc, pay them in this new currency and take the welfare off the governments borrowing requirements. Indeed why not just do this across the whole country? Sure the big retailers would sign up to accept it since they would be glad of extra revenue.

Actually what's to stop the GBP being deployed/ created in this way rather than with the chain of repayment and interest to the faceless bond market / banks who just majic the money out of the air anyway!?!

Oh yes that's right our whole system and politics is governed by the shadow elite.

[mccw]

I'll preempt the answer that inflation would run riot with all that extra spending power in the system.

So we must accept wests and global slide in to poverty for the masses?

It's been decided by the almighty that its actually all for the best because with resources dwindling they realise that consumption must fall so those at the top can keep life comfortable and maintain their powers until technologies can drive us in to a new era of prosperity.

Even with revolution and new monetary system can't put more recourses in the ground. Thing are as they are and will be as they must be.

If like this then the question is how to manage it and structure a dwindling economy.

Im on the side of less government, less tax, less regulation, less benefit, everyone take care themselves and there families- Thailand style is in my opinion much better than western and more easily adaptable to new world ie not burdened by welfare state, regulation etcetera

[Naam]

quoting ancient Greek philosophers or other well known personalities means "no own thoughts". that applies of course also to posting "yootoob" links or "null-hedge" where a bunch of chaps are raving and ranting "the sky is falling" and "the end is nigh, repent or else!"

"when the going gets tough, the tough get going!" does not seem to be en vogue, neither in this nor in the gold thread.

oh well...

[Naam]

So we must accept wests and global slide in to poverty for the masses?

what do you mean by "slide into poverty"? take a look at the majority of this planet's inhabitants. they live in poverty!

[mccw]

So we must accept wests and global slide in to poverty for the masses?

what do you mean by "slide into poverty"? take a look at the majority of this planet's inhabitants. they live in poverty!

Well yes, but I mean the western standard of living will erode to real poverty standards and those in other countries the west might think of as poor, but aren't so terribly poor, will get really poor and who is really poor currently will starve. Food price inflation alone can do this to the bottom % of worlds population and has started already.

[yoshiwara]

Could a monetary system work where currency is created by the government by paying people an amount directly related to hours of work done? Everyone is found a job and paid for it. Private employment continues but all the unemployed must work for the state street sweeping, building etc etc. so new money created free from debt.

I see in Bristol, England, the local council has introduced the "Bristol £" available at 1-1 exchange with the GBP and spendable locally. Part of the government salaries are paid in it and taxes can be settled with it.

So why not take it a step further and make all the benefits lazy layabouts work street sweeping or helping old ladies with shopping, maybe training a bit to help out charities etc, pay them in this new currency and take the welfare off the governments borrowing requirements. Indeed why not just do this across the whole country? Sure the big retailers would sign up to accept it since they would be glad of extra revenue.

Actually what's to stop the GBP being deployed/ created in this way rather than with the chain of repayment and interest to the faceless bond market / banks who just majic the money out of the air anyway!?!

Oh yes that's right our whole system and politics is governed by the shadow elite.

This is schoolkids stuff. Have you studied any economics at all?

Edited October 1, 2012 by yoshiwara

[cloudhopper]

Well yes, but I mean the western standard of living will erode to real poverty standards and those in other countries the west might think of as poor, but aren't so terribly poor, will get really poor and who is really poor currently will starve. Food price inflation alone can do this to the bottom % of worlds population and has started already.

I don't know how far it will erode but in aggregate all of the mal-invested "wealth" created by 40 years of unrestrained credit expansion, be it in China or Wall Street, will be destroyed.

[Naam]

So we must accept wests and global slide in to poverty for the masses?

what do you mean by "slide into poverty"? take a look at the majority of this planet's inhabitants. they live in poverty!

Well yes, but I mean the western standard of living will erode to real poverty standards and those in other countries the west might think of as poor, but aren't so terribly poor, will get really poor and who is really poor currently will starve. Food price inflation alone can do this to the bottom % of worlds population and has started already.

please state your reasons why western standards of living will deteriorate to real poverty standards.