The developed world is on the brink of a financial, economic, social and political crisis

[OnlinePoker]

This video gives a pretty dire view of the coming financial realities the world is going to have to face. Of particular note is what he starts talking about at the 11:50 mark, unfunded liabilities. You could tax 100% of the U.S. economy and not come close to covering them.

[pbmus]

1. Emerging markets cannot do anything without Markets...

[Blue_true]

9. His point was their balance sheets are sound, so they can bleed out longer before dying.

Personally, I believe the whole world is in trouble.

The only thing that can break the crisis that we are headed toward is an invention that is so revolutionary that every country must have it as a vital need. If the inventor(s) is/are patriotic, he, she or they will allow the government to leverage the future earnings of the invention to retire immediate obligations, stabilizing the world economy and getting it back to health. I must add that the inventor(s) won't be doing pure charity since the inventor(s) most likely will become the richest person(s) and the inventor(s) decendants will also be that by having the money returned over many decades, with gains from economic growth.

[pbmus]

12. Who is responsible for stopping the game we are all playing...?

In other words, who is gonna call the other’s markers in...?

I know that China is not as financially healthy as he put on...they have entire cities built with no one in them...

So yes, we have to restructure financial needs around the world...but the game is still held in play.

[Blue_true]

13. You raise legitimate points.

But I remember hearing the guy say that it will all likely end tragically, even for China.

Though it is going to be brutal, maybe the only fix is total economic collapse of the world, with all the accompanying chaos. As long as the mega-rich think that they can run off to secure bunkers while the world burns, change will not happen. Maybe the people that think they can survive chaos must be plunged into chaos along with everyone else, chaos where their money will only make them more inviting targets.

[pbmus]

14. Restructuring is the answer...

And any financial collapse is man made...and thoughts that precipitate that are only granted by those that control levers of markets...

Real Wealth rests in natural resources which the world is beating a hasty path to...Africa, Southeast Asia, and others...

Nihilism is not the answer...

[Amishman]

30. China's banking system is a unstable mess with a smiley sticker slapped over the cracks

Their shadow banking system is a huge danger. Off books or otherwise concealed high risk loans, under collateralized and sided up with sketchy swaps between peers. Funds raised by selling fraudulent 'securities' to retail customers / investors.

[rusty fender]

21. Uh, what is

this invention

[Blue_true]

22. I will leave it for you to try to figure out.

It is not smart to ridicule stuff that one dies not understand.

[rusty fender]

23. LOL

[Blue_true]

24. History is full of people that laughed at what they did not understand, or

who thought something was impossible given their limited knowledge in the area being considered, or due to their simple hubris.

[rusty fender]

25. I'm not laughing at that, I'm laughing at you

That you threaten someone who posts a crazy eyes emoji is laughable.

I simply asked what kind of an invention would save the world.

[Ghost Dog]

28. Intra-dimensional galactic transit.

Travel instantaneously to any set of coordinates in this Galaxy.

[rusty fender]

29. Would love to see that

[triron]

32. Tunnelling to parallel universes.

Dark energy is set to bring our universe to a very dark cold place (or worse).
Of course that is billions upon billions of years from now.

[Blue_true]

33. I threatened someone? Wow, you really went off the rails. nt

[mr_lebowski]

27. WTH are you TALKING about man?

Seriously ...

[Blue_true]

36. There are materials that superconduct at very low temperatures.

For anything but scientific exploration, they are virtually useless. But if the temperature for superconducting is brought closer to the temperature of your refrigerator, then there is a sea change in the possibilities of what can be done, from new energy sources to greenhouse gas capture and a vast number of applications between. The net value of materials that have ultra-high temperature superconducting capability would be so large that it would not be practical for companies to buy the base technology, only governments could manage that.

There are groups racing to develop ultra-high temperature superconductors, one of those groups will eventually unlock secrets that were once considered non-existent. I come from a mindset that the solutions to all that ails us already exists, we just have not discovered those solutions yet.

You can LOL if you will, it means nothing to me.

[airplaneman]

2. Unfunded Liabilities

The projections are for 75 years and the assumption is nothing will change.
Bacteria will cover the Earth and be heading out into space at the speed of light under these assumptions.
I have never heard a good argument about unfunded liabilities.
We are at Peak Debt - The debt will not be paid back - how the debt will not be paid is the important issue.
-Airplane

[pbmus]

3. By taxing corporations and the filthy rich...

[PoliticAverse]

26. "how the debt will not be paid is the important issue." - indeed. n/t

[pbmus]

31. Forgive the debt...and write it off for a maximum of 3-5 yrs..

At maximum %s...

Man made this mess, we can make another one just as easily.

[Initech]

4. Facebook misinformation has turned things upside down and inside out.

Nearly everything that's happening can be attributed to that one thing - social media disinformation It's causing people to prefer autocratic dictators to freedom and progress. It's causing people to break 100 years of scientific progress and bring back deadly diseases like polio. It's bringing back the fucking Nazi party. Seriously as long as it's allowed to continue we're fucked.

[Coventina]

5. I agree with you. I'm pretty much a dinosaur in that I have no social media.

DU is as close as I get.

I am astonished, daily, at the idiocy of what people say they believe.
I have to assume it's a diet of these platforms that just spew falsehoods non-stop.

There is no belief in science, rationality, or logic.

It's horrifying, really.

[Initech]

6. Yup, everyone's got their own channel and 100,000+ followers.

It doesn't matter what anyone says anymore, someone could makeup something batshit crazy like "Trump is keeping concealed evidence that dinosaurs exist in Area 51!" and people would not only believe it, but spread the stupid around. It's infuriating.

[KentuckyWoman]

8. Made me laugh

You are 100% right. I am never sure if this fact amuses or if it terrifies me.

You way of putting it brought a giggle.

Thank you

[Blue_true]

10. I bet my dinasaurs skin is thicker than yours.

Like you, DU is it for me and social media. I like to read tweets here and in newsfeeds, but I would never join Twitter or any other social media platform. YouTube may be an exception, but it would be all one way, I would put out informational videos and people would have a choice to use them or not use them, I truly would not care about the comments they make.

[Blue_true]

7. That was some scary stuff. It would not have been more scary had he a Hannibal Lecter mask on. nt

[jalan48]

11. How will markets operate in an environmental collapse?

[roamer65]

15. Get ready for massive QE and negative interest rates.

The Fed will have no choice but to hyperinflate when recession becomes obvious. They will monetize it all. Government and corporate debt.
As Voltaire said, all paper money eventually returns to its intrinsic value...zero.

[pbmus]

16. Do you mean deflation, not inflation ...?

[roamer65]

17. Inflation will result as the currency is weakened.

Think Zimbabwe.

[pbmus]

18. Then the entire world would be in chaos...

This will not happen...

[roamer65]

19. It can happen.

Just watch what happens when the world’s central banks panic and kick the printing presses into hyperdrive.

They will choose a hyperinflationary depression over a deflationary one.

[pbmus]

20. Totally disagree

[Opel_Justwax]

34. The sky is falling.

This is the 1% saying they don't want to pay more in taxes and claim that the world is gonna go bankrupt. Please ban these stories on DU.

[airplaneman]

37. Bingo we have a winner n/t.

[elocs]

35. This guy is not an omniscient god. Maybe the sky is going to fall, maybe not.

There also seems to sometimes be a perverse delight in predictions of doom and gloom.
I'll just do the best I can and not spend a lot of time hand wringing about things that are totally out of my control.

Tens of thousands of people will die today and certainly many of those thousands had no idea yesterday they would be dead today. Just like the people who perished in that boat fire, you never know.
I'm as poor as the proverbial church mouse, but healthy and content to be alive. Maybe the end is near, maybe it is not. But one thing about those who predict doom--if they are wrong you tend not to hear from them again.