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
Re: mal was zum Aufmuntern - tolle Zusammenfassung, nahtlos übertragbar....mfG
>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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