Economy

[Rookie Pilot]

I'll post this here, because they mock me on the other site.  Somehow many pilots, because they can follow a magnenta line, can analyze too.  It's a wee bit more complicated.  Stay in your lane, so to speak.

I do economic stuff for a living. For a long long time, now.

I'll be blunt. And brief.

I think the economy in the US, Canada, China, Europe, for too many reasons to list,  is about to take a propeller blade to the head.  I'll do fantastic in this, because I always do well  in distressed situations against the pilots who think they are semi professionals.  Dentists, too.

Like playing tackle football  against 3 year olds.

Batten down the hatches, is my unsolicited advice. Take it or leave it. 

Take the job offered. Get secure. Pay down debt. Have a big cushion.  Sell down your risky shit. 

[Eric Janson]

I agree with all the above.

I would just add that this is going to be [b]Global [/b]and much worse than 2008.

I'm seeing the effects already in Australia and the Middle East.

[Rookie Pilot]

Australia is a mess.  Housing. 

[Colonel]

I honestly don't know how important Australia's economic health is,
to other countries.

For example, didn't Iceland have a banking crisis?  Not sure if that
had much effect, really, as one of their volcanos blowing.

[Eric Janson]

The problem is that a bank's or country's debt is held by banks all over the world.

A large enough default will trigger a cascading collapse of the banking system as a result. Think of it as a row of Dominoes. If interest rates increase this will happen.

The other issue is Fractional Reserve Banking

[Slick Goodlin]

[quote author=Rookie Pilot link=topic=9479.msg26684#msg26684 date=1549592795]
I'll do fantastic in this, because I always do well  in distressed situations against the pilots who think they are semi professionals[/quote]
As a pilot who only flies because I know I’m too dumb for any other quasi-respectable job, how can I also do fantastic?

[Colonel]

You're lucky.  I'm too dumb to even be able to fly for a living.

[Rookie Pilot]

[quote author=Slick Goodlin link=topic=9479.msg26702#msg26702 date=1549687661]
[quote author=Rookie Pilot link=topic=9479.msg26684#msg26684 date=1549592795]
I'll do fantastic in this, because I always do well  in distressed situations against the pilots who think they are semi professionals[/quote]
As a pilot who only flies because I know I’m too dumb for any other quasi-respectable job, how can I also do fantastic?
[/quote]

A lot of study. 

And realizing every part of Wall Street and Bay Street is a sales industry set up to screw you over. 

I do the exact opposite on what the bleating pundits tell me. 

[Eric Janson]

I have been considering learning how to "short" Stocks.

My thinking is to short the Banks/Wall Street all the way down in a major downturn.

No sympathy for the Scum that have destroyed our financial system while pocketing obscene salaries and bonuses in the process.

Any thoughts on this Rookie Pilot?