So when will the next Bank Holiday be??

I think sometime soon the way the stock market is going down. Of course they call it a holiday but in reality it just means you can't get money out of your account for about a week. If you still keep all of your money in the bank you are crazy.

Did you know FDR had a bank holiday? Just some more comparisons between Obama and FDR since Obama likes to compare himself to FDR.

Do you also know that during the great depression 13 million americans were unemployed and today there are around 25 million people unemployed? So you shouldn't pay to much attention to the % and actually look at the number.;)

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the population is probably A LOT higher than it was back then right?

123 million or so compared to over 300 million

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yes you are right.. But that doesn't make it any better does it??

25 million people roaming your country with nothing to do and no money is a bad combination.

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[QUOTE=runningman;714491] 25 million people roaming your country with nothing to do and no money is a bad combination.[/QUOTE]

Sooooo, what apocalyptic fate can we expect to befall us as a result? Don't leave us hanging! ;)

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No.. No..No.. I am not going to give away the ending. I am not saying the world is going to end. I am just saying that you better have enough cash on you to be able to live for about 2 weeks just in case..

Why can't you guys just comment on whether you think there will be a bank holiday or not??

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[quote=runningman;714508] Why can't you guys just comment on whether you think there will be a bank holiday or not??[/quote]

Hadn't even occurred to me. Are there any [serious] commentators other than you that view this as a realistic possibility?

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[quote=runningman;714491]yes you are right.. But that doesn't make it any better does it??

25 million people roaming your country with nothing to do and no money is a bad combination.[/quote]

All I'm saying is you said don't pay attention to the percentage look at the numbers.. well its a lower percentage isnt it? I'm not saying its good, it's just funny how you come accross as the all high and mighty USA Doomsday authority sitting up there in Canada as if it's Utopia, lol, that's all. I get a kick out of the threads you feel the need to bring up daily.

and they arent roaming around the country doing nothing, they are all standing on street corners asking for money from people that do still have jobs :(

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Don't take my criticism as if I am saying Canada is perfect. I have never insisted on that. I just wanted to move to the US really bad but don't think I will for at least another 2-3 years.

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I'd love to go back to England and be with my family, but it's just not feasable right now :(

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that sucks. My dad is from England and he for some reason never wants to go back. Not sure why though. I think when he left he had a bad taste in his mouth.

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[QUOTE=Steve Graham;714587]I'd love to go back to England and be with my family, but it's just not feasable right now :([/QUOTE]

I hear ya Steve...that is how I felt last year at this time and I did move back (from california to Florida) to be with my family. Interesting how the most important things in life become so obvious during slow economic periods.

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[quote=runningman;714610]that sucks. My dad is from England and he for some reason never wants to go back. Not sure why though. I think when he left he had a bad taste in his mouth.[/quote]

i want to, i miss a lot besides the family, i just dont see it working financially

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[quote=runningman;714584]Don't take my criticism as if I am saying Canada is perfect. I have never insisted on that. I just wanted to move to the US really bad but don't think I will for at least another 2-3 years.[/quote]

why bother?

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[quote=runningman;714483]So when will the next Bank Holiday be??

I think sometime soon the way the stock market is going down. Of course they call it a holiday but in reality it just means you can't get money out of your account for about a week. If you still keep all of your money in the bank you are crazy.[/quote] First of all, let's be clear on what a bank holiday is, how FDR used it, and [I]why[/I] he did so. Understanding these things is key to understanding what is likely to happen with bank holidays in the future.

When FDR came into power, there was a massive string of bank failures under way and strong public mistrust in banks evidenced most particularly in the form of [I]bank runs[/I]. FDR instituted a bank holiday to basically determine which banks were fiscally solvent and which weren't. The idea was to close/consolidate banks which couldn't survive anyways, and better recapitalize banks that were viable, thus cutting out the deadwood and enhancing peoples' confidence in the banking sector. It actually helped a lot, although it was by no means a silver bullet for economic recovery.

However, you should keep in mind that back then a little organization called the [B]Federal Deposit Insurance Corporation[/B] did not exist; the FDIC was created under FDR's administration with the aim of guaranteeing funds in the banking sector, thus negating a lot of the traditional issues that led to runs on banks. Second, we have technology and infrastructure for monitoring and adjusting bank liquidity that didn't exist in the 1930s. Thanks to that technology, Obama's folks could most likely do most of what FDR's administration did [I]without [/I]even having to close down the banks - and do so preemptively before bank runs are likely to occur.

This is not to say that bank runs and bank holidays can't happen; nothing is impossible. But even if they do, the stock market won't be the best predictor to look at; you should look at things like benchmarks for interbank lending and liquidity, the prevalence of bank runs, the prevalence of bank failures, etc.

[quote=runningman;714483]Did you know FDR had a bank holiday? Just some more comparisons between Obama and FDR since Obama likes to compare himself to FDR.[/quote] Shockingly, yes. I think most of us on here had US history in high school.

[quote=runningman;714483]Do you also know that during the great depression 13 million americans were unemployed and today there are around 25 million people unemployed? So you shouldn't pay to much attention to the % and actually look at the number.;)[/quote] While the actual number is important, you really should pay significant attention to the %. Our society today has completely different levels of productivity, output, investment, and wealth generation than it did back during the Great Depression. Percentages allow you to better consider the approximate impact of negative economic developments [I]relative to[/I] the productive capacity of the economy. In other words, we may have twice as many unemployed people as in the Great Depression, but we also easily have more than twice the productivity, significantly more consumption per capita, much greater population and job pools, much greater pools of investment, etc...all of which help us better weather negative economic impacts than our predecessors could back in the Great Depression. This is why economists consider relative percentages, and not just absolute numbers.

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one word...well actually two words :) Cash machine :)

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[quote=Miroslav;714719]First of all, let's be clear on what a bank holiday is, how FDR used it, and [I]why[/I] he did so. Understanding these things is key to understanding what is likely to happen with bank holidays in the future.

When FDR came into power, there was a massive string of bank failures under way and strong public mistrust in banks evidenced most particularly in the form of [I]bank runs[/I]. FDR instituted a bank holiday to basically determine which banks were fiscally solvent and which weren't. The idea was to close/consolidate banks which couldn't survive anyways, and better recapitalize banks that were viable, thus cutting out the deadwood and enhancing peoples' confidence in the banking sector. It actually helped a lot, although it was by no means a silver bullet for economic recovery.

However, you should keep in mind that back then a little organization called the [B]Federal Deposit Insurance Corporation[/B] did not exist; the FDIC was created under FDR's administration with the aim of guaranteeing funds in the banking sector, thus negating a lot of the traditional issues that led to runs on banks. Second, we have technology and infrastructure for monitoring and adjusting bank liquidity that didn't exist in the 1930s. Thanks to that technology, Obama's folks could most likely do most of what FDR's administration did [I]without [/I]even having to close down the banks - and do so preemptively before bank runs are likely to occur.

This is not to say that bank runs and bank holidays can't happen; nothing is impossible. But even if they do, the stock market won't be the best predictor to look at; you should look at things like benchmarks for interbank lending and liquidity, the prevalence of bank runs, the prevalence of bank failures, etc.

Shockingly, yes. I think most of us on here had US history in high school.

While the actual number is important, you really should pay significant attention to the %. Our society today has completely different levels of productivity, output, investment, and wealth generation than it did back during the Great Depression. Percentages allow you to better consider the approximate impact of negative economic developments [I]relative to[/I] the productive capacity of the economy. In other words, we may have twice as many unemployed people as in the Great Depression, but we also easily have more than twice the productivity, significantly more consumption per capita, much greater population and job pools, much greater pools of investment, etc...all of which help us better weather negative economic impacts than our predecessors could back in the Great Depression. This is why economists consider relative percentages, and not just absolute numbers.[/quote]

So I don't understand what you are saying.. are you saying there will be a bank holiday or not??? I'm saying yes...

reason is because people will start to pull out of banks once the run starts. Don't you understand that the gov't has been delaying this because this will unravel the deck of cards that the US has been building for years??!!??

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I don't know why this double posted

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[quote=runningman;714808]So I don't understand what you are saying.. are you saying there will be a bank holiday or not??? I'm saying yes... [/quote] Ok, here is the Cliff's Notes version: (1) Bank holidays are unlikely because the government has other means of addressing banks' liquidity and solvency that they didn't have in the 1930s, and (2) if they do occur, bank holidays are likely to be preceded by runs on the banks and widespread bank failures.

[quote=runningman;714808]reason is because people will start to pull out of banks once the run starts.[/quote] I'm sorry, but now I don't understand what you're saying. I can't make sense of this statement. If you mean run as in "bank run", then a bank run [U]is[/U] [I]the act of people pulling money out of banks[/I]; people don't pull their money out "once the run starts".

[quote=runningman;714808]Don't you understand that the gov't has been delaying this because this will unravel the deck of cards that the US has been building for years??!!?? What happens when the FDIC goes broke??[/quote] You seem to be saying that the government is delaying this bank holiday thing because of fear that it will cause the banking system to fall apart. Actually, I think you may have it a bit backwards. The entire concept of a bank holiday is an action taken by the government [I]to increase peoples' confidence[/I] in the banking system - and it worked pretty well in the past. So in other words, in the face of a bad situation, a bank holiday is a [I]good thing[/I]. The government wouldn't delay a bank holiday out of fear of collapsing the banking system; the government would do the bank holiday [I]to prevent[/I] the banking system from collapsing.

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^^^ or "cash cows." :lol:

might as well reiterate this again: i just believe that there is going to be some catastrophic financial destruction, and epic reconstruction of the systems in the next 14 years. i'm also going to weather the hyperinflation storm cos' i'll be livin' at a no or minimum level of upkeep sergeants. ;)

FDR is the man. might as well dump some quotes from him here too:

[quote][FONT=Arial, Helvetica, sans-serif][SIZE=2]If you treat people right they will treat you right... ninety percent of the time. [/SIZE][/FONT] [FONT=Arial, Helvetica, sans-serif][SIZE=2]In our seeking for economic and political progress, we all go up - or else we all go down.[/SIZE][/FONT] [FONT=Arial, Helvetica, sans-serif][SIZE=2] [/SIZE][/FONT][FONT=Arial, Helvetica, sans-serif][SIZE=2]In politics, nothing happens by accident. If it happens, you can bet it was planned that way. [/SIZE][/FONT] [FONT=Arial, Helvetica, sans-serif][SIZE=2]It is an unfortunate human failing that a full pocketbook often groans more loudly than an empty stomach. [/SIZE][/FONT]

[/quote][quote][FONT=Arial, Helvetica, sans-serif][SIZE=2]I see an America whose rivers and valleys and lakes, hills and streams and plains; the mountains over our land and nature’s wealth deep under the earth, are protected as the rightful heritage of all the people.
ATTRIBUTION: Franklin D. Roosevelt (1882–1945), U.S. president. FDR Speaks authorized edition of speeches, 1933-1945 (recordings of Franklin Roosevelt’s public addresses), side 8, Cleveland campaign speech (Nov. 2, 1940), ed. Henry Steele Commager, Introduction by Eleanor Roosevelt, Washington Records, Inc. (1960).[/SIZE][/FONT][/quote][quote][FONT=Arial, Helvetica, sans-serif][SIZE=2]We shall make mistakes, but they must never be mistakes which result from faintness of heart or abandonment of moral principles. I remember that my old school master Dr. Peabody said in days that seemed to us then to be secure and untroubled, he said things in life will not always run smoothly, sometimes we will be rising toward the heights and all will seem to reverse itself and start downward. The great thing to remember is that the trend of civilization itself is forever upward. ATTRIBUTION: Franklin D. Roosevelt (1882–1945), U.S. president. FDR Speaks authorized edition of speeches, 1933-1945 (recordings of Franklin Roosevelt’s public addresses), side 12, fourth inaugural address (Jan. 20, 1945), ed. Henry Steele Commager, Introduction by Eleanor Roosevelt, Washington Records, Inc. (1960).[/SIZE][/FONT][/quote]proportionality corresponded to the modern day, i would like or see many of these principles and values revamped and taken into action by our leaders... damn, the presidents speech the other night though... WTF. :what

[IMG]http://i39.tinypic.com/egoi1u.jpg[/IMG]

[IMG]http://i42.tinypic.com/2py820p.jpg[/IMG]

[IMG]http://i40.tinypic.com/4tk8xx.jpg[/IMG]

[IMG]http://i39.tinypic.com/kf04n8.jpg[/IMG]

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[quote=lucky charms;714819]this again: i just believe that there is going to be some catastrophic financial destruction, and epic reconstruction of the systems in the next 14 years.[/quote] You don't need to wait 14 years. This is happening right now.

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You guys are right everything is fine in the world.. When do you think things like [URL="http://www.reuters.com/article/latestCrisis/idUSLQ87702?sp=true"]this will turn very violent? [/URL]

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haha man i love your apocaliptic view of everything.

i think most people are worried about getting jobs and supporting their families instead of "hitting the streets" in protests, a lot of my neighbors used to have decent jobs and now theyre stuck working at walmart or 7eleven, so i doubt any of them are eager to start the riots.

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[quote=Cj Tari;715117]haha man i love your apocaliptic view of everything.

i think most people are worried about getting jobs and supporting their families instead of "hitting the streets" in protests, a lot of my neighbors used to have decent jobs and now theyre stuck working at walmart or 7eleven, so i doubt any of them are eager to start the riots.[/quote]

then people should be concerned about creating incentives for employers to create new jobs. if the people demand poverty, by gosh, give it to them.

edit; look at greece for example. that country is so fvcked, I wish i could watch a live feed from google earth at the collapse of that anthill.

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[quote=runningman;715084]You guys are right everything is fine in the world.. When do you think things like [URL="http://www.reuters.com/article/latestCrisis/idUSLQ87702?sp=true"]this will turn very violent? [/URL][/quote] No one said that everything is fine. If your point with all of this is "things are really bad", then yes, we all clearly get that.

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my point isn't that things are bad. I have been constantly saying things are getting worse. I could deal with bad as long as there is a light at the end of the tunnel. But that light hasn't appeared yet which leads me to believe that rioting and protests will be a big thing over the next 2 years. I don't want it, but think it is inevitable.

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you think way too much, read way too much, watch way too much news.. the media has you by the balls mate, step outside and enjoy life once in a while for gods sake before you end up in the looney bin.. or worse, you'll be one of those people standing in the street preaching the end of the world is coming

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[quote=Steve Graham;715381] or worse, you'll be one of those people standing in the street preaching the end of the world is coming[/quote]

you talk like that isn't already the case. :lol::lol::lol:

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[IMG]http://www.cartoonstock.com/newscartoons/cartoonists/mba/lowres/mban1433l.jpg[/IMG]

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runningman may just have something here. Didnt the mayan's predict Dec 21, 2012 as the ultimate doomsday event?

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[quote=Kamal;715474]runningman may just have something here. Didnt the mayan's predict Dec 21, 2012 as the ultimate doomsday event?[/quote]

No, they did not such thing. Their calendar simply ends. The theory that the world will end on december 21st 2012 is a theory created by a guy who took copious amounts of LSD.

I would say the probability of the world ending on that exact date, like any other prediction of such nature, approaches nil.

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[QUOTE=Mariner1;715494]No, they did not such thing. Their calendar simply ends. The theory that the world will end on december 21st 2012 is a theory created by a guy who took copious amounts of LSD.[/QUOTE]

while I do agree that the ending of the world on that exact date maybe rather remote.... I dont think the calendar simply "ends" on that day. It just ends a 5000-something year cycle.

[QUOTE]NOTE: The astronomer Philip Plait has stated very clearly that the Mayan calendar does not end in 2012 at all, that it is like the odometer on your car, as each section of the odometer reaches 9 and then clicks over to 0, the next number to it starts a new cycle, so that when all the numbers again reach 0 all the way across the odometer - the last number will change from 1 to 2 and the new cycle starts all over again. [/QUOTE]

[QUOTE]The Mayan calendar is not actually a single calendar that westerners are used to referencing today. It is actually a complex system of multiple calendars used in conjunction. Two calendars used in conjunction are the Tzolk’in and the Haab. The Tzolk’in calendar consists of 260 days. The Haab consists of 365 days. The combined use of these calendars creates a cycle of 52 Haabs (52 years) and is referred to as the Calendar Round. Small cycles of 13 days (Trecena) and 20 days (veintena) exist as well.

Another calendar used to track longer periods of time is referred to as the Long Count. This calendar is used to track dates relative to each other on a linear scale and utilizes a numeric decimal system to record dates. For example, the Mayan date for December 21, 2012 is 13.0.0.0.0. The long count cycle referred to as the “Great Cycle” lasts for 5,125.36 years. Correlating that to the Gregorian calendar used by most people in the world today, the starting date of the current long count cycle is August 11, 3,114 B.C.

Another interesting cycle is the precession of the equinoxes lasting approximately 26,000 years. The long count of 5,125 years is 1/5 of that cycle. December 21, 2012 marks the end of the Long Count and Precession Cycle. A fascinating astronomical occurrence will take place that day. The sun will be seen in a conjunction with the crossing point of the galactic equator and the ecliptic which is referred by the Mayans as the Sacred Tree. Since this is due to take place on the winter solstice, this should provide clear evidence that the proper end day of the Mayan calendar is December 21, 2012. Some say December 22,nd, 23rd or even other dates. However, the solstice was an important day to the Mayans and it is logical to think that they would conclude their calendar cycle on this day, coupled with the fact of the rare astronomical occurrence set to take place that day.

Overall, the Mayan calendar system is amazing and complex. It is the most accurate calendar system ever invented by anyone.[/QUOTE]

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right. that's what i mean. not like, it stops, but that it rolls over. kinda like a planner when you're go from december 08 to january 09.

i don't believe that the world will end that day.

but! i have to say, i find it peculiar how accurate the mayans were with thier gauging of time and space. quite fascinating tbh.

i do believe that the world will end on valentine's day. (props if you get the reference).

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How the fuck did we get from me bringing up a bank holiday to the Mayan Calendar??:lol: I'm the crazy one? All I asked is if you agree there will be a bank holiday. I never said the world was going to end.

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[quote=runningman;715583]How the fuck did we get from me bringing up a bank holiday to the Mayan Calendar??:lol: I'm the crazy one? All I asked is if you agree there will be a bank holiday. I never said the world was going to end.[/quote] Straight answer: It's less than likely, but anything is possible these days. But if and when it happens, it's actually a [I]good thing[/I] within the context of the situation.

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[quote=runningman;715583]How the fuck did we get from me bringing up a bank holiday to the Mayan Calendar??:lol: I'm the crazy one? All I asked is if you agree there will be a bank holiday. I never said the world was going to end.[/quote]

I think the "world is going to end" reference is a cumlmination of all you're doomsday like posts and threads, lol. thats all

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[quote=runningman;715583]How the fuck did we get from me bringing up a bank holiday to the Mayan Calendar??:lol: I'm the crazy one? All I asked is if you agree there will be a bank holiday. I never said the world was going to end.[/quote]

[IMG]http://sarcasticgamer.com/wp/wp-content/uploads/2007/10/attention_whore2.jpg[/IMG]

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My doomsday posts are just warnings to your countries reality. I'm not trying to be Dr. Doom and Gloom here but the reality of the economy and war signals going up around the world should be telling everyone that a draft and war are coming as well as a run on the banks. The FDIC can't insure everyone. Don't you guys get that? Your country doesn't have any money how can they insure anything??

Citi and AIG must fail in order to move forward.

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[quote=runningman;716014]My doomsday posts are just warnings to your countries reality. I'm not trying to be Dr. Doom and Gloom here but the reality of the economy and war signals going up around the world should be telling everyone that a draft and war are coming as well as a run on the banks. The FDIC can't insure everyone. Don't you guys get that? Your country doesn't have any money how can they insure anything??

Citi and AIG must fail in order to move forward.[/quote] Dude... WE GET IT. We're in bit trouble. Things are not all puppy dogs and roses right now. THANK YOU for letting us in on the secret (for the thousandth time in a row). :roll:

Now what exactly do you suggest we do with your little "warnings"? Run around the streets, flailing our arms and screaming? It's fortunate for you that you're in Canada where you're safe from the global recession. :lol:

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[quote=runningman;716014]My doomsday posts are just warnings to your countries reality. I'm not trying to be Dr. Doom and Gloom here but the reality of the economy and war signals going up around the world should be telling everyone that a draft and war are coming as well as a run on the banks. The FDIC can't insure everyone. Don't you guys get that? Your country doesn't have any money how can they insure anything??

Citi and AIG must fail in order to move forward.[/quote]

wrong. the government will just print more money. that there is goddamn problem. once you get on that h-train of money printing, you don't get off.

regards,

Zimbabwe.

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[quote=Miroslav;716016]Dude... WE GET IT. We're in bit trouble. Things are not all puppy dogs and roses right now. THANK YOU for letting us in on the secret (for the thousandth time in a row). :roll:

Now what exactly do you suggest we do with your little "warnings"? Run around the streets, flailing our arms and screaming? It's fortunate for you that you're in Canada where you're safe from the global recession. :lol:[/quote]

My suggestion is to stop printing all that money for spending.

Seriously.

Do you know that the chinese government is sending wealthy chinese out to the united states to buy up lot after lot after lot in this firesale we're having on property right now?

My suspicion is that the government will use eminent domain as collateral.

just a theory.

but something to chew on.