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Thread: Finland is told its welfare state can't cope with virus fallout

  1. #21
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    Quote Originally Posted by Peter1469 View Post
    For different reasons. I also am referring to a total crash, not a recession.
    There's a lot of ways justify 2008 - my overall view is that dropping the gold standard was the first major mistake . It was some kind of experiment , and it hasn't worked out too well . I can't view the current crisis , without seeing the connections between 2020 and 2008 .
    Last edited by PJL; 04-03-2020 at 10:45 AM.

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    Quote Originally Posted by PJL View Post
    There's a lot of ways justify 2008 - my overall view is that dropping the gold standard was the first major mistake . It was some kind of experiment , and it hasn't worked out too well . I can't view the current crisis , without seeing the connections between 2020 and 2008 .
    The 2008, recession- not a crash, was caused by systematic failures in financial markets and in real estate. Essentially it was two different industries failing at the same time, which is somewhat rare.

    Today we don't have a systematic failure to blame (yet). This recession is caused by two situations, the coronavirus and the oil price war.
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  3. #23
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    Quote Originally Posted by Peter1469 View Post
    The 2008, recession- not a crash, was caused by systematic failures in financial markets and in real estate. Essentially it was two different industries failing at the same time, which is somewhat rare. Today we don't have a systematic failure to blame (yet). This recession is caused by two situations, the coronavirus and the oil price war.
    So many things in play here . I read an article yesterday - the IMF (I think) , was predicting a return to growth in 2021....I'd like to believe it , but predictions are , what they are . We're in unknown territory . There's talk of Russia /Saud doing something to stabilize the oil market ..... that would help .

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    Quote Originally Posted by PJL View Post
    So many things in play here . I read an article yesterday - the IMF (I think) , was predicting a return to growth in 2021....I'd like to believe it , but predictions are , what they are . We're in unknown territory . There's talk of Russia /Saud doing something to stabilize the oil market ..... that would help .
    Agree with the oil market.

    As for the recession, because it is caused by situational factors once those are resolved the markets will sharply rebound.

    But as you have noted, and I constantly state the systematic failures are there and will crush us in due course.
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    Quote Originally Posted by Peter1469 View Post
    Agree with the oil market. As for the recession, because it is caused by situational factors once those are resolved the markets will sharply rebound. But as you have noted, and I constantly state the systematic failures are there and will crush us in due course.
    I think most of 2020 will be spent sorting the virus on a global level - I can see no other way that it can genuinely be contained ......by the time 2021 rolls around , we will have a clear picture of what we need to deal with post-virus . Keeping a pulse on economies should be sufficient until then .

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    Quote Originally Posted by PJL View Post
    I think most of 2020 will be spent sorting the virus on a global level - I can see no other way that it can genuinely be contained ......by the time 2021 rolls around , we will have a clear picture of what we need to deal with post-virus . Keeping a pulse on economies should be sufficient until then .
    to bad chinas been lying about it making it more diffcult

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    Quote Originally Posted by PJL View Post
    I think most of 2020 will be spent sorting the virus on a global level - I can see no other way that it can genuinely be contained ......by the time 2021 rolls around , we will have a clear picture of what we need to deal with post-virus . Keeping a pulse on economies should be sufficient until then .
    Agreed.
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    Quote Originally Posted by bulletbob View Post
    to bad chinas been lying about it making it more diffcult
    I think history tells us that only fools trust China. Of course they lied about the virus. They took a big hit. They decided to let it spread globally so they would not be at a disadvantage - everyone would share the pain. Not just China.

    Machiavelli would council just that.
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    Quote Originally Posted by PJL View Post
    There's a lot of ways justify 2008 - my overall view is that dropping the gold standard was the first major mistake . It was some kind of experiment , and it hasn't worked out too well . I can't view the current crisis , without seeing the connections between 2020 and 2008 .
    what did the gold standard have to do with the housing market PLJ go ahead and explain that one

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    Quote Originally Posted by PJL View Post
    I don't believe that . Finland is a wealthy country......plus they chop down trees and do a lot a yodeling
    Now that made me laugh.
    So far, the only ACTUAL legitimate race crime of 2020 was taking a woman off a bottle of syrup because she was black.

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