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[orange]

sets of reenactment armor ... it goes all mad max on us

How real is the re-enactment armor?  Could be useful in mad-max Europe.

[Bacchanalian]

Pretty much what Vik said. 

The US economy is precariously balanced at best, living in denial at worst.  Our government meanwhile is too busy playing political games with the budget to recognize that the stove's about to light on fire, and as a result we could at any time find ourselves back at 2008 levels.  Or worse.  In fact, likely worse if we go back that direction.  We're barely scratching out enough of a recovery to call it a recovery.

One whiff of bad finances/banks in Europe is possibly enough to tip that precarious balance.  Even if the EU can laugh it off, if it impacts our markets and very rotten financial sector, we stand to watch the whole thing come crashing down.

[Saede Riordan]

Yeah, +1 to what Vik said as well.

the 2008 bailouts were all chasing a 700 trillion dollar derivatives bubble down the drain. Sooner or later, something is going to slip, it might not take that large of a bank run to start things spiralling out of control, and the fractional reserve banking system will fail. The world is in debt to itself right now, more money exists in the form of loans and debts then in the form of currency. If the price of oil gets too high, or the economy destabilizes the wrong way, the whole system could fail and leave the world completely broke and in debt to itself.

that'll be good to watch. Stock up on a few months food supplies.

[Lyn Farel]

I think it's kind'a interesting that all the US Americans seem to be more worried about what happens in Europe than the Europeans themselves. Really, guys, keep some cool. This isn't the end of the world, nor of Europe.

That.

[Jade Constantine]

sets of reenactment armor ... it goes all mad max on us

How real is the re-enactment armor?  Could be useful in mad-max Europe.

Well it's made of metal links and plates, won't stop bullets or crossbows though...

I think we'll have a peculiarly British fiscal apocalypse though, it'll be home knit jumpers, army boots, mountain bikes and alotment wars with the techno-anarchist rebels trading for chickens and veg with goods they made on homemade 3d printers with designs downloaded from creative commons and pirate bay with solar cell (and exercise machine) powered laptops.

[Ché Biko]

Doesn't cost anything to be cautious

...for those that are cautious. If enough people are cautious, it could bring about the collapse of the banks.
Don't get me wrong, I don't blame you or anyone else for being cautious, and advising others to do the same, but ironically, this might have consequences for those that are still putting their trust into banks.
It's like a sinking ship, the people that choose to abandon ship early with half empty lifeboats will survive, but only at the cost of the lives of those who try to keep the ship from sinking. And if the people in the lifeboats would have assisted in saving the ship, it might not have sunk at all.

And I'm not sure if American banks will be that fine if half of europe's collapses.

[hellgremlin]

Find me one rich motherfucker who regretted *not* staying aboard the Titanic. :p

[Vikarion]

And I'm not sure if American banks will be that fine if half of europe's collapses.

Ironically, since American banks have been so reluctant to actually loan to Americans, it is just possible that the American government could allow them to fail without destroying the rest of the economy, if it stepped in to perform the lending function itself, or utilized smaller banks for the purpose and aided them with cash infusions. Of course, that won't happen, because the Treasury department views itself as essentially an agency for the protection and aid of these banking behemoths.

[Mithfindel]

About half an hour ago, the Cypriot parliament rejected the deal. So back to the negotiation table.

The situation, as far as I understand it, is that two banks are in the danger of going under and need to be nationalized in order to save the savings. The alternative is letting them go under, which means that each person with savings needs to be compensated for his or her lost wealth (up to 100 k€). Which, technically, might be the cheaper alternative, but might create an even worse run on the banks in Cyprus, potentially leading to nearly 100% loss of savings.

As a detail, there's a few thousand British nationals in Cyprus, in the bases. UK is flying in money (1 M€ in cash) for them in case they can't use the ATM machines. Britain has also mentioned that they will pay the tax back to their citizens.

E: Flying in cash kind of underlines the catch-22 there. If withdrawals are allowed, then there's a chance on a run on the banks. If withdrawals are not allowed, they'll pretty soon run out of cash. Do I sense incoming limitations on how fast you can withdraw money from the banks?

[Saede Riordan]

sets of reenactment armor ... it goes all mad max on us

How real is the re-enactment armor?  Could be useful in mad-max Europe.

Well it's made of metal links and plates, won't stop bullets or crossbows though...

I think we'll have a peculiarly British fiscal apocalypse though, it'll be home knit jumpers, army boots, mountain bikes and alotment wars with the techno-anarchist rebels trading for chickens and veg with goods they made on homemade 3d printers with designs downloaded from creative commons and pirate bay with solar cell (and exercise machine) powered laptops.

wtb: this future

[orange]

sets of reenactment armor ... it goes all mad max on us

How real is the re-enactment armor?  Could be useful in mad-max Europe.

Well it's made of metal links and plates, won't stop bullets or crossbows though...

I think we'll have a peculiarly British fiscal apocalypse though, it'll be home knit jumpers, army boots, mountain bikes and alotment wars with the techno-anarchist rebels trading for chickens and veg with goods they made on homemade 3d printers with designs downloaded from creative commons and pirate bay with solar cell (and exercise machine) powered laptops.

wtb: this future

We may need a new thread   

[Iwan Terpalen]

Would buy as well. I fear it's going to be closer to huddling around thrash fires and telling tall tales of such mythical things as "hot showers" and "times when we didn't have to fight off roving bands of cannibals."

[Victoria Stecker]

Hmm. My understanding was that the EU was asking for Cyprus to help pay for the bailout, and it was up to the Cypriot gov to figure out where to get the money. They decided to try and take some of it from all accounts, even those under the 100k that's covered by deposit guarantees. This, of course, would lead to outrage that the Cypriot gov hoped to direct toward the EU and Germany, but couldn't manage because Germany made its side of the argument clear.

Would have been wiser to only levy the tax against money above the 100k deposit guarantee, but that might make the russian money launderer's unhappy. So instead they decided to screw everyone and blame Germany, that plan failed miserably and parlaiment just shot the plan down in a big way. We'll see what they come up with next.

[Nicoletta Mithra]

Hmm. My understanding was that the EU was asking for Cyprus to help pay for the bailout, and it was up to the Cypriot gov to figure out where to get the money. They decided to try and take some of it from all accounts, even those under the 100k that's covered by deposit guarantees. This, of course, would lead to outrage that the Cypriot gov hoped to direct toward the EU and Germany, but couldn't manage because Germany made its side of the argument clear.

Would have been wiser to only levy the tax against money above the 100k deposit guarantee, but that might make the russian money launderer's unhappy. So instead they decided to screw everyone and blame Germany, that plan failed miserably and parlaiment just shot the plan down in a big way. We'll see what they come up with next.

That's about it, yes. Though I'm not quite sure whether shifting the blame did fail entirely. So, now they will probably hand the cypriot offshore gas deposits to Russia to get their banks saved. <,< Isn't it always a good idea to hand ones natural riches over to the Russians? >,>

[Lyn Farel]

From what I have heard this evening, they have issued a "call for help" to Russia.