Are We Headed Towards Another Financial Crisis? (opinion piece)

in #blog7 years ago (edited)

 

I have been thinking about this subject for a while, ever since the most recent financial crisis of 2008. I have a feeling that it might have been relatively soon. I believe it was to happen again would be around September of this year. Why do I say that though? Well, we seem to be repeating, or the government to be more specific, the same mistakes that led up to the financial crisis of 08. Regulations on the banks are going to be lessened and they have become bigger than they were when they originally failed when they were "too big to fail". The value of real estate is starting to go up again, that's not to say that where it'll start this time but it is probably one of the indicators that we are on that same path again. Like my history teacher used to say "history doesn't repeat itself like a brother or sister but more like cousins." Now what does that mean in hindsight, it simply means that events don't necessarily repeat exactly as the previous time there will be variations that will make them distinct but they will be similar in other aspects. Examples of this would be the Great Depression and The Recession. Very similar events but varying circumstances. Or even World War I versus World War II.   

Who's to say that the financial system didn't die back in 2008, what if the federal reserve is printing up so much money that it only appears that the system is alive and well. It's like they kicked up dust and nobody can see that there is a dead body in the room. The only way people could see the true reality is when there's no more dust being thrown, and the dust settles revealing the dead corpse. It's pretty astonishing to think about it that way. The fact that the Federal Reserve is printing so much money is almost like the blood of the system that is supporting the entire thing until it can no longer due to hyperinflation if that were the case.   

Now I believe the Federal Reserve is playing a very delicate balancing game with raising interest rates. Sure, it may seem that our economy is doing well and improving but if it happens too quickly, which I'm afraid it is doing and only accelerating it will not be able to keep up with itself in for lack of a better term implode or be crushed due to unsustainability.   

                                         

The fact that the people who lost their homes in 2008 and didn't get bailed out and the banks did is incredibly telling on how the system is only concerned with protecting profits and not people. I guess sometimes that's how it has to be, things have to get worse before they can get better. If we really think about it there is one good thing that came out of it all, actually probably a few things. One, we realize the system is working. Secondly, the system is designed to protect profits of banks and corporations instead of the people. Thirdly, people are more aware and are paying attention more than ever due to this event. Lastly, the birth of bitcoin came out of this event having inspired Satoshi Nakamoto who had witnessed people lose faith in the system and be taken advantage of.   

We have the tools to protect ourselves and we are getting more each and every day. All because of one person's innovation against the monetary system. We also have the ability to buy assets such as precious metals gold and silver and turn in our worthless cash into something that may keep us afloat in financial difficulties or crises of magnitudes that we may not even realize.   

They may be trying to stop bitcoin or other crypto currencies, but they can no longer censor us thanks to Steemit. We now have a place they can call our own and work together to share ideas and communicate one-on-one or in mass to others who want to bring peace and love and prosperity to others who are suffering at the hand of a greedy monetary system.    

Sure, some days it may seem hopeless but we must never lose the inner hope that things will get better we must be patient. That doesn't necessarily mean doing nothing do everything you can in the moment as it adds up and it does make a difference even though it may not seem like it is having any tangible effect or result right away it most certainly will, and when that time comes you'll be glad that you took action in pursuing what it is you chose to make a positive difference and help others.   

In the history of Fiat currencies, they have all gone to zero. On average, it takes 20 to 40 years and if we really think about it the US dollar began in 1913 so we are way overdue. The financial crisis of 08 may have been a precursor or the event itself we just don't know it yet. I still think we will see something happen in September of this year in terms of another financial crisis.   

I do feel though that we are more prepared or better situated in case of the inevitable. If we look all around the world we see financial crisis is happening and they seem to be happening more often. From Cyprus to Greece to Venezuela. We are starting to see symptoms and signs all over we the people recognize it but the people on top want to monopolize it.   


There is no guarantee that there will be a financial crisis in September but that's just my own personal feeling. Let me know what you guys think!   


Thanks for reading!   

Keep on Steeming!  

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We are. There's no denying that. One major sing is increasing frequency and size of "lesser" crises. Not sure about this september, but it certainly will happen in our lifetime. Venezuela already showed how to doeal with state-wide crisis by utilizing cryptocurrencies, but at the same time... one could ask if crypto is in itself crisis-proof. It may have a shelf life just like any other FIAT, although a little longer one. Since crises arise from deeper principles I think, that we will seriously need to re-thing how our society works before we can stop economical issues once and for all.

I don't know if you have heard of The Venus Project, The concept is a resource based economy if it works it could be the solution to most of societies problems today. I highly recommend you check it out on youtube I think you will find it refreshing and hopeful.

I have not heard of it. Thank you. I'll check it out.

Edit: Oh, it's Fresco's child. Now it makes sense.

nice post ,,, you have good blog , Good luck. Comrade

Thank you very much! Good luck to you as well!

nice post!

I think there will be a major crash this year.

Yeah I say September because to the lead up to 08 crisis I remember on the news they said how well the economy was growing and it was speeding up and then out of nowhere it all went downhill. It sounds very similar to what we are hearing now.

You are correct the entire global economy is basically on a slow death spiral as the gap between the have and have nots increases. If the US FED had not printed the money to bail out the banks in 2008 the entire US economy would have collapsed and seized, because the major banks basically no longer had any money to function on a day to day basis. In my opinion I don't think there will be a major crash just a steady decline with a slow death of the middle class, because of the 2008 crash the FED and banks have learned their lesson so they will do things behind the scenes that the public does not know about to make sure they keep the ponzi scheme going. Also the economy has not been improving at all, the average wage of Americans is basically the same as it was in the 70s if you account for inflation, while living expenses have increased. The rise in the stock market is basically only because of money creation by the FED, you can look at their balance sheet here https://fred.stlouisfed.org/series/WALCL the money they have created since 2008 to buy whatever assets they choose to buy, most of that money has basically gone into the stock market...

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Thanks Alot for your time upvoted and Support ;) <3

No problem glad I could help :)

thanks alot :)

Great post here! Although, personally, I don't like thinking about it. Though it's possibly inevitable, I just don't see a reason for me to dwell on thinking about it and causing me to feel fear. Instead, I focus on feeling secure - I do what I can now to have security. If that day happens, hopefully I'm ready to deal with it, but possibly, it might not happen. So until then, I keep happy thoughts :)

That's good to keep a positive mindset. I believe people who are on steemit or into crypto currencies in general are more prepared than most!

Thanks for the information, you have tons of evidence.

Haha, thanks, I wouldn't really call it a ton of evidence but, more of a recognition of a potential pattern.

One could argue that the US Dollar is not a system running since 1913. Since this date, the US Dollar changed considerably. FDR, Nixon, there are a couple of watershed moments in history that changed the characteristics of the US Dollar.

But the current period with the US Dollar not pegged to anything is beyond its 40 years anniversary. Immense pressure has build up but until now, there was no viable alternative.

Whatever the events will be, good chance that an enormous wealth transfer will occur. Digital assets will probably capture a part of that.

I completely agree with you!The greatest transfer of wealth will be quite an event maybe then the people will be able to fix things to benefit all so to speak.

I fear that politicians will pursue a wealth tax. Because.... fair...

Yep sounds about right! HAHAHA

You don't have to be a rocket scientist to spot that. Read a little bit about interest rates and USA debt. They are just delaying it, but can't stop it. Look at Deutche bank. Fragile bubble in property market. I am surprised that it sustained for so long. It will ne a big one!

Yeah could't agree more! Slowly but, surely we're getting closer and closer to the inevitable.

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