[Jotapay]

$this->bbcode_second_pass_quote('BlueGhostNo2', 'I')'m preparing to emigrate to NZ, scoping it out now, then I'll go back to England get another software dev job and start organizing it.

[patience]

What's next?
Idiots in SUV's out of gas along the road. What kpeavey said. Nincompoops like my sister in law, who owes back taxes, runs up the credit cards for new clothes, and throws out leftover steak, will be begging one of the family for a place to stay. Bad check writers will proliferate, along with petty theft and gas pump driveaways.

Then we get the next leg down, when the bailouts aren't enough, and the currency is further diluted with funny money to prop the banksters, yet again, while the costs of food and energy go ballistic. Anybody's guess from there.

[allenwrench]

$this->bbcode_second_pass_quote('IgnoranceIsBliss', 'S')hopping/ buying things is our national pastime. It's what we do for amusement. People will still try to buy the usual junk until the bitter end. (ie their credit card is maxed and then cut off) I think we will see a lot more credit card defaults when folks just run them up and then stop paying. (maybe after a job loss)

Then comes anger because "hey, I work hard but can't afford that big screen TV that I have to get!"

I've been wondering the same thing: how is our economy going to recover (let alone grow again) without the consumer spending component?

The only answer that I see right away is some kind of gov't funded public works projects to provide jobs and help us transition into a green economy. Chances of this actualy happening: minimal at best

Maybe more people will join the military to get work and benefits. That would solve the troop shortage, but give us a lot of untrained personnel. Maybe we wage more wars to keep the military industrial complex fully funded and providing more jobs.

[patience]

Here's one guy's take on what's next, quoted from Tickerforum:

OH **** I see what you are saying - countries are going to fall simply because they have weaker currencies and people trust them less for 'safe haven' purposes. In a generalized flight to safety all these countries will pop BUT their debt will too, causing more and more destruction in the remaining countries until... WOW a chain reaction like this could take out half the economies of the world!! Is there a word for something worse than a depression, like a destruction? OH damn I hadnt even thought about the consequences. Iceland popped and now people are viewing smaller countries in the same way they look at possibly bad banks - they are pulling their money out!! OMFG. This is bigger than a bank run.
endquote

First Iceland, then? Pakistan? Hungary? Who's next? This could wreak devastation through the whole world economy. Dominoes, just like the banks.

[Daniel_Plainview]

$this->bbcode_second_pass_quote('patience', '
')First Iceland, then? Pakistan? Hungary? Who's next? This could wreak devastation through the whole world economy. Dominoes, just like the banks.

[patience]

DoomWarrior,

Sorry. Shoulda done that.

Tickerforum

As an aside, the pump up from the weekend "Great G7 Propup" didn't last all that long, huh? Pretty much gone by now.