Board-Ansicht
Mix-Ansicht- mal was zum Aufmuntern - R.Deutsch, 13.03.2001, 09:09
- ein richtiger Schenkelklopfer... (owT) - crow, 13.03.2001, 12:28
- Re: mal was zum Aufmuntern - tolle Zusammenfassung, nahtlos übertragbar....mfG - Baldur der Ketzer, 13.03.2001, 12:35
- Re: Nicht zum Lachen - aber genau s o wird's kommen! (owT) - dottore, 13.03.2001, 15:35
mal was zum Aufmuntern
According to Austrian economics, the boom or speculative bubble
bursts when the credit expansion ends. If a depression does indeed
follow a credit boom, then Champagne Joe, the typical yuppie with
borrowed money in the market and no savings faces a series of
unpleasant events. Here's a possible scenario.
1.The markets fall and Joe gets a margin call. He must sell or
come up with more money. The ensuing bear market wipes
out his stock portfolio. The idea that stock ownership is the
same as bank savings is put to rest forever.
2.The sudden market drop slows down the economy. Joe finds
his stock options are worthless and the company he works
for is cutting back. Either he or his wife may lose their job.
Family income plummets.
3.Monthly payment on the home mortgage that was refinanced
to 100% of value take a big bite out of family income. The
value of Joe's home has now dropped far below the amount
of the mortgage.
4.The price of all imports, including oil, soar upward in price
because the dollar has fallen precipitously. Joe and his family
can no longer afford to go shopping at the mall.
5.Interest rates go through the roof and Joe's variable
mortgage floats upward. His house payment has become
unmanageable. Joe struggles to pay off credit card debt.
Borrowing costs are intolerably high, a new car or major
purchase is out of the question.
6.Joe's company files bankruptcy. He takes a job elsewhere at
half his prior salary.
7.Joe's home goes into foreclosure. He and his family move in
with his sister.
8.Stocks continue to drop relentlessly. Joe's retirement plan is
worthless. Now his family can only afford the bare essentials
of life.
9.Joe's wife loses her job. She files for unemployment, but
government revenues have shrunk dramatically and benefits
are reduced.
10.Joe suffers from severe depression and spends his days
watching the financial channels where a full-fledged panic
unfolds in the stock and bond markets. Joe watches the dollar
collapse and interest rates scream upward as liquidity
vanishes.
11.Joe decides to file bankruptcy.
12.Joe turns to his parents for help. Joe's parents, who had all
their money with brokerage houses in money market funds
and bond funds find they can't liquidate their holdings.
Failures in commercial paper render money market funds
illiquid. High yield (junk bonds) funds collapse and all holders
are trapped, never to get a penny. Corporate bond funds
face massive liquidations and plunging values. Joe's parents
are wiped out.
This isn't the worst of it. There's the potential for even greater
failures, a total collapse that wipes out the wealth of America and
leaves the public without help from any source. We are all at risk.
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