The biggest financial crash in history will happen in 2019

[Ahmed]

Christophe, you say:

To reduce drastically is not really to eliminate, eh !!

Yes, but it nevertheless expresses a significant trend ... and still not related to the crisis.

[Grelinette]

If there is no more cash, how are the homeless people going to stand in the street? ...
They are more and more numerous and live off the small pieces that passers-by give them.
How will they adapt to the disappearance of cash?


in the street ...

[Christophe]

There will always be cash ... for ... diplomatic bags, bribes, moonlighting, illegal businesses ... etc etc ...

These things make the world go round ... have you ever seen a bitch take a check or a legally funded election campaign?

[Christophe]

Intriguing and interesting ...

Big breakdown and serial technical problems for several European stock exchanges, including Paris

The places of Paris, Brussels, Amsterdam, Lisbon and Dublin suffered a breakdown of about three hours on Monday morning.

(...)


Serial problems on world stock exchanges

The last major outage that affected the stock market operator dates back two years, when on October 29, 2018, a failure to calculate the CAC 40 at the start of the session had caused a suspension of listing and disruptions throughout the morning. The blackout suffered on Monday by Euronext comes shortly after a series of technical problems that affected several stock markets around the world. The most recent dates back to October 1 and a blockage throughout the session on the Tokyo Stock Exchange, one of the most serious incidents in the history of the Japanese market. It was preceded by an interruption of trading in July on the Frankfurt Stock Exchange, due to a "malfunction" that affected the trading system of this financial center, called Xetra.

The "bug" suffered by Euronext on Monday did not seem to have affected investors' mood too much. Customers have shown themselves to be "fairly patient", responded to AFP Christopher Dembik, head of economic research at Saxo Bank. The expert observed "the advantage of having a rather quiet Monday", with traditionally low order volumes on the first day of the week. The technical woes affecting Euronext occur only ten days after the latter's formalization of the takeover of the Milan Stock Exchange, held for twelve years by the London Stock Exchange, which manages the London Stock Exchange. The acquisition was made with the Italian Caisse des Dépôts and the Italian bank Intesa Sanpaolo.

https://www.lefigaro.fr/conjoncture/gro ... s-20201019

A bug my c..l ... they were attacked but will never admit it !!

[Christophe]

No kidding ?

[eclectron]

No kidding ?

2021, is this the right one?
Ah we will get there at the Crash but they are doing everything to save the system.
It hurts them but to save the system they are going to end up giving free money to the real economy, to the real people who are really suffering from this obsolete system.

[thibr]

At the end of 2020, we learned, via the media, news that is at first glance contradictory. On the one hand, France will have reached, this year, the symbolic number of 10 million poor; the economy's growth rate has plummeted, with a recession of over 11%. And on the other hand, the CAC 40 had its best month in 30 years last November.

How to explain this curious disconnection between the stock markets and the real economy. I wanted to ask Paul Jorion the question. Anthropologist, ex-trader, Paul Jorion rose to fame for predicting the 2008 subprime crisis. Last March, when the world stock markets were unscrewing even before COVID 19 spread around the world, Paul Jorion asserted, in an interview he gave us, that the global financial crisis was already here. And yet, nine months later, the poor drink glasses, artisans and small entrepreneurs are on the verge of suicide, but the CAC 40 sets records. The Media asked him how he explained it.

[Ahmed]

Curious (but not so surprising! *) Analysis of Paul jorion who regrets papa's "good capitalism" which he opposes to financial capitalism. While the finality of capitalism has always been financial and centered on value, a concept endorsed without batting an eyelid by our economist. What he does not seem to understand is that the financial industry has not come to undermine the foundations of a "healthy" economy, but only corresponds to the only way to achieve the conditions for the functioning of capitalism, l ever greater accumulation of value. He illustrates this mistake very well by the remedies he proposes: that consumers be "supplied" with cash to perpetuate the economic cycle; unfortunately for his theory, it is the opposite which is at the origin of the blockage: the impossibility or at least the growing difficulty of implementing human labor because of the current conditions of very high productivity. Therefore, we understand that a redistribution of "purchasing power" would not resolve this essential aspect.
On the rest, that is to say the quantative easing redistributed to large companies and the role of the State with borrowing, its interpretation is correct ...

* He is a facade anti-capitalist, rather an altercapitalist who criticizes this system only in an immanent way, that is to say within the capitalist categories.

[eclectron]

He illustrates this mistake very well by the remedies he proposes: that consumers be "supplied" with cash to perpetuate the economic cycle;

On this point I find you unfair, he also says that so that people eat. He talks about civil servants, we are heading straight for a universal income.
In my opinion, the choice is going to be universal income or the disaster.
Universal income funded by free money (?)

The transition to a sustainable world will perhaps go smoothly in the end.

From there to say thank you covid, there is a step that I have not taken yet.

[Ahmed]

This is not the point raised by P.Jorion which is placed rather from the point of view of systemic functioning, by evoking a defusing of the economy as a result. Of course, this does not stand in the way of social and practical considerations (but it is only incidental for the economy of which this does not constitute the finality, but only a condition of realization).
The economy is already financed, from the top, by free money, which constitutes a serious internal contradiction which can only be temporary, but a UK would be nonsense insofar as it would imply a "satisfactory" functioning. of the economy, ie an accentuation of the causes of what the UK is supposed to remedy ...