Is leftypol ready for the next market crash?
There's always been one after a two-term presidency when I've been alive. Politicians try to hold stocks up with low interest rates and other temporary shit and blame shit on China's manufacturing sector for underproducing even Americans aren't being paid enough to buy stuff made even that cheaply anymore.
It's gonna suck.
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I know it's inevitable
I'm guessing it'll hit by the end of the next presidential turn
Abolish Capitalism. Problem Solved.
stocks are already as overvalued as they were in '08, it's so fragile. Any hiccup anywhere in the world or in economic reports and the market has a hissy fit.
And I'm not one of those gold-bug permabear idiots. Politicians like Obama keep things going until they are legally required to leave, and the Obama economy has been terrible.
It's happening soon. The rest of the world is in crisis and people here are just buying stock out of fear.
This is why I'm glad that Bernie isn't doing better. If this crash happened while he was President it would be open season on blaming the crash on """"""socialism"""""". If it happens with one of the other two in office, he can sit all comfy and yell from the sidelines ==YOU COULD HAVE PREVENTED THIS! WHY DIDN'T YOU LISTEN?==.
haha XD
honestly no one blamed the '08 crash on Obama because people knew it started in '07. If this overdue crash starts to unfold now and makes it's way into '17, people would be blaming Barack.
Now, this myth that Obama is a lefty is going to hurt us if it starts this year. Trump will capitalize on it BIG TIME, Clinton to a lesser degree. Trump is already going around saying he'll lift us out of a coming crash.
We need to make sure we keep the Sanderistas active in politics. Clinton is already uniting the ruling class into one widely depsised ideological group
WELTOCKTOBER SOON FELLOW COMRADES
Clinton is running on being Obama's 3rd term (i.e. Bush's 5th term). I don't see how it could possibly work in her favor. It'd certainly help Trump, and Sanders as far as explaining how these small reforms are useless.
What level of crash are we looking at here, and I mean practical terms, line graphs don't represent reality very well.
I've been talking to a lot of Clinton supporters who dislike Obama not because of the fact that he's a conservative but because they're still bitter he beat her in '08. And they think she would have done a much better job etc. They never say this in public though.
But you're right Clinton is running on an Obama third term.
There I go underestimating the stupidity of the American voter again.
If I remember correctly, Richard Wolff has been saying that it's at least gonna be as bad as '08.
Any idea how it's going to happen this time? Like, how last time it was the mortgage crisis that kicked it off.
It could start with a major shock in China, or with the collapse of student debt. There's even a sub-prime auto loan bubble inflating right about now.
Shiller P/E ratio (standard, respected cyclically adjusted valuation of the market) is at 25.82. Crazy high. To get back to the historical CAPE ratio, like markets tend to do would put the S&P around 1100 to be NORMAL valuation.
So actually should be at 1100 to be in a sane valuation. How further down we go in the next crash, who knows?
Bond prices are sky high because yields are so stupidly low, we're in an enormous bond bubble that's ready to burst. Add that to the current oil glut crisis that already sent stocks into a tailspin this year, the global corporate revenue crisis from lack of consumer spending (although they never frame it that way), and the fact that the economy tends to deflate after a current administration wrapping things up. It's coming soon, and again I'm not a permabear. The excesses of capitalism is incompatible with the consumer demand that it takes away via wage theft.
You're forgetting all that debt because of the oil prices and all that money put into shale oil.
Ironic that Saudi oil may, in the end, slay both superpowers of the Cold War.
That too. It's honestly looking more and more like a perfect storm of factors.
As usual, bernouts are several months behind. Trumpbots have been toying with this idea for a while now. This is the caliber of bernstein supporters.
True, even Hillary mentioned a looming stock crisis in one of the debates that only she could solve. It was like the second or third to last one.
I sure as fuck am not. I'm a jobless college student with at least two years left of university (probably more because I don't like to have a large course schedule), and I live with my mom who has been job hunting for months now.
We've been discussing this point for months now, trumpenprole.
You're giving people too much credit. It's not about the economists, it's about the general people. Obama is blamed for basically everything, and Bernie would be too.
Depends when the crisis starts. It's looking like it's already started this year with oil companies going bankrupt and corporate revenues getting lower and lower every with each report coming in this year. Obama talks a good talk about the jobs he's added, but there still are the same amount of people that don't have a full-time job than there was before 2008. The amount of people that have given up looking for work has been going up under Obama and the new jobs that were created are low-wage. We are seeing the fallout from wage stagnation with these dismal corporate revenue reports from China and back home
If Bernie becomes president in 2017 but the crisis plays out the way it is this year, Obama will be blamed.
I hope it results in severe economic collapse. It will be the perfect time for the hard-right to rise.
only problem is that if you look what's going on left parties and candidates with little to no recognition gain power in recent years globally during and after economic collapse. The righties did a good job spinning the '08 collapse, but the left is stronger than ever for this one.
The left did well in 08'. The right is well positioned across the west for this. Think about it, in 08' the far right were pretty much irrelevant. Now they are the second party in most of Europe and in the US they have taken over the Republican Party.
The next collapse will result in total victory for the nationalist right.
We're Coming Bucko
faaaaaaaag
What are you smoking? The left was decimated in '08 when all the fucking Democrats rallied behind a neoliberal, third-way democrat to give us a New Deal because He was a mulatto from Hawaii or something like that.
The right defined the entire narrative in the '08 crash by screaming at the top of their lungs that it was individual debtors responsible. It started with this one dude on CNBC astroturphing the first tea party
youtube.com
which defined the repsonse to the '08 crisis. Occupy didn't come until much later.
This time is different, we have Syriza, Podemos, Corbyn, and Sanders talking class warfare with regards to economic crises and we have the stronger and more accurate narrative at the moment. This doesn't have to do with who is elected president in the U.S., this has to do with the social movements.
Bump, mods pls
If you google "recession 2016" just about every major financial website from bloomberg to the times is now admitting the next recession is not far off.
It's already here really just not on paper yet.
I got turned down for a garbage man position today…
so ive heard some neoliberal fags deny that the financial crisis was caused by deregulation and argued that the debt accumulated to form the crash started in 1998, while the removal of the glass-steagal act happened in 1999, so it couldnt have been due to deregulation.
also they're unconvinced that neoliberal policies since the 70s and 80s caused the crash as thatcher was a neoliberal and the same didnt happen in the UK.
is there some truth to this?
isnt trump basically a protectionist? he might be racist sexist whatever i dont give a fuck, but isnt he economically leftist like the rest of us?
also mods cycle this thread pls
He wants nationalist piggies because globalist piggies are evil.
I remember the point being made last June
Let's meme this crash into existence
Credit cards delaied the crash back in 80s.
Same loans caused the crash.
Neoliberalism held the crash until it fell even harder.
As long as there are no nukes, we are always read..
Hell… Even with nukes we are!
POSADISM FTW!
so what happens when every country is at 0% interest rates, what is the next step then? going cashless with negative interest rates to force people to spend money on shit they don't need?
The average Shillary drone can only just barely be regarded as a sentient being.
Honestly, at least most political illiterates have the common decency to not vote. I don't know what cruel cosmic force made "low information voters" a thing, and a significant political force at that.
My, I wonder who could be behind this post?
...
They already have these in Japan.