General > General Technical Chat
Silicon Valley Bank Collapses
Gyro:
Yes it is. Unfortunately you're arguing against human nature though and there's no way anyone's going to change that.
VK3DRB:
Global debt is > USD $300 TRILLION, according to the IMF in 2021. This can never be repaid. When the house of cards starts to fall, it will be catastrophic. This will once again be a precursor to global war.
Now, there is a big positive side to this... 555 timers will drop in price :-+
EEVblog:
Credit Suisse will be lucky if it has 24 hours left.
The CDF market yesterday priced in a 30% chance of them defaulting, today it's up to 50%. The Saudi's said no more money for you.
themadhippy:
--- Quote ---This will once again be a precursor to global war
--- End quote ---
Paid for on the country's credit card
james_s:
--- Quote from: VK3DRB on March 16, 2023, 01:38:32 am ---Global debt is > USD $300 TRILLION, according to the IMF in 2021. This can never be repaid. When the house of cards starts to fall, it will be catastrophic. This will once again be a precursor to global war.
Now, there is a big positive side to this... 555 timers will drop in price :-+
--- End quote ---
They pretty much just have to start over. I don't know what will happen but it's not going to be fun. Hopefully it occurs after I'm gone, no civilization lasts forever.
This is actually part of the reason I don't have much interest in going to Mars and such, I think the human race, or at least modern society will collapse long before we manage to develop the technology to travel to some other habitable planet. Humans have existed for only an extremely brief portion of the history of the earth and we will likely be gone long before the earth is.
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