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Thread: Predictions

  1. #11
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    Just to add to that, since the results of the referendum are not legally binding and therefore the consequences are more political than anything else, and recent polls indicate 1.1 million people who voted for Brexit would now vote against it, there's just as strong a case for holding a new referendum as there is against!

    Whole thing's deadlocked, maybe a general election the answer?

    Several EU govt's have ignored results of past referendums when faced with reality. e.g. Greece agreeing to austerity package insisted on by Germany in return for further loans, despite referendum result heavily against.

  2. #12
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    Predictions.

    Unless the monies are needed for some ( spelt correctly ) other reason.
    Is this not the basis of every sale or purchase.
    Tarot Cards Next ?.

  3. #13
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    Quote Originally Posted by Blue Skies View Post
    Several EU govt's have ignored results of past referendums when faced with reality. e.g. Greece agreeing to austerity package insisted on by Germany in return for further loans, despite referendum result heavily against.
    Increasingly democracy is being undermined and the will of the people ignored as was done in Greece. Big bankers dictate to governments when a country is in debt and needs financial assistance. Austerity so the rich get richer and the poor poorer. Neoliberalism undermines democracy. The success of neoliberal political strategies rests on a mixture of rhetoric and control of democracy’s major local and global institutions.

    World-wide democracy is being undermined as this article previously posted by winner explains. The book Democracy in Chains discusses how the capitalist radical right has been working not simply to change who rules, but to fundamentally alter the rules of democratic governance. Charles Koch, whose mission was to save capitalists like himself from democracy, found the ultimate theoretical tool in the work of the southern economist James McGill Buchanan.

    Many liberals have missed the point of strategies like privatization. Efforts to “reform” public education and Social Security are not just about a preference for the private sector over the public sector. MacLean contends, the goal of these strategies is to radically alter power relations, weakening pro-public forces and enhancing the lobbying power and commitment of the corporations that take over public services and resources, thus advancing the plans to dismantle democracy and make way for a return to oligarchy. The majority will be held captive so that the wealthy can finally be free to do as they please, no matter how destructive.
    MacLean argues that shrinking big government is not really the point. The oligarchs require a government with tremendous new powers so that they can bypass the will of the people.

    https://www.ineteconomics.org/perspe...ver-of-america
    https://politicalinequality.org/2016...and-democracy/

  4. #14
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    My prediction is that when the next recession/financial crisis hits the US will want austerity for the poor. They will be asked to tighten their belts. The government will want to cut spending on welfare, education, health etc because the debt is too high. The recent tax cuts which benefited the rich the most were funded by debt. The rich will not be asked to tighten their belts i.e. tax increase, and in fact could be given a tax cut to get the economy going. Rich get richer, poor get poorer.
    Never let a good crisis go to waste - this expression is now commonly applied to economic or diplomatic crises that can be exploited to advance political agendas.

  5. #15
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    Quote Originally Posted by moka View Post
    My prediction is that when the next recession/financial crisis hits the US will want austerity for the poor. They will be asked to tighten their belts. The government will want to cut spending on welfare, education, health etc because the debt is too high. The recent tax cuts which benefited the rich the most were funded by debt. The rich will not be asked to tighten their belts i.e. tax increase, and in fact could be given a tax cut to get the economy going. Rich get richer, poor get poorer.
    Never let a good crisis go to waste - this expression is now commonly applied to economic or diplomatic crises that can be exploited to advance political agendas.
    I watched the first episode from the Aljazeera documentary "Hard Earned" last night. If the poor buggers featured are made to tighten their belts further then I pity them. These are people that are not living the "American Dream" (which happens to be the ironic name for the first episode).

    https://www.aljazeera.com/programmes/hardearned/

  6. #16
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    My Prediction is that in 6 months we will be in a major global economic crisis. This one will be simular to 2008 in that banks will be hit, but the root problem will be due to a wider range of debt. I believe the banks have once again lent out to those who can't afford to pay and have been aggressive in getting people to take out mortages and loans for consumer items. This has been the driver of asset bubbles all around the world. On top of that Companies have been taking out cheap loans and paying dividents or buying their own stock. basically I believe we will hit the debt wall it will be the trigger the crisis.

  7. #17
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    I predict a recession is coming and that Trump will make it so much worse.

    · Trump’s trade war is the biggest threat to the U.S. economy in 2019.
    · Trump has already shot most of the fiscal bullets, leaving less ammunition when it’s actually needed.
    · Leadership - there’s the problem of USA’s deteriorating international standing. In the last financial crisis, having good relationships with foreign central banks, finance ministers and other leaders abroad proved crucial for coordinating fiscal and monetary responses.
    · Trump has picked trade wars with adversaries and allies alike. He’s insulted foreign leaders, proved himself an erratic, unreliable partner, with a dubious grasp of basic economics.
    · Trump views the world as zero-sum. Any time another country is improving, it must be at USA’s expense. Given this outlook, he may be suspicious of any multilateral response to a global downturn.
    · Finally, there’s this administration’s unusually shallow bench of economic talent. Consider the team that led us out of the 2007-2008 financial panic. Whatever their shortcomings — and not foreseeing the crisis was surely one of them — they collectively offered tremendous expertise, experience and relationships. Federal Reserve Chair Ben Bernanke had spent his academic career studying the Great Depression. Bush’s treasury secretary, Henry Paulson, had been chief executive of Goldman Sachs; he knew the players on Wall Street, and they respected him. Timothy Geithner, president of the Federal Reserve Bank of New York and later Obama’s treasury secretary, understood the plumbing of both the financial system and the federal government. (In an earlier stint at Treasury in the 1990s, he was involved in responses to financial crises in Brazil, Mexico, Indonesia, South Korea and Thailand.)

    https://www.washingtonpost.com/news/...=.1d64b066c8b7

  8. #18
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    Australia will see the world's biggest house price declines this year. In a research report released on Wednesday, Fitch Ratings forecast Australian house prices would decline a further 5 per cent this year, on top of a 6.7 per cent decline from the peak so far, making Australian housing the worst performer out of 24 countries for the second consecutive year. The report said high household debt amplifies risks, with debt-to-GDP ratios at or over 100 per cent in Australia, Canada, Denmark, the Netherlands and Norway, and over 85 per cent in New Zealand, South Korea, Sweden and the UK.
    https://www.abc.net.au/news/2019-01-...rices/10720406

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