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Planet Ponzi

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TheMotorcycleBoy
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Planet Ponzi

#141450

Postby TheMotorcycleBoy » May 26th, 2018, 11:00 am

Hi everyone,

Since Mel and I have recently started investing, we've been buying one or two books on the subject. The one below is not that really about investing per se. but rather about recent financial crisis' and the way that several countries (in the author eyes) are headed towards (or are at) his idea of Ponzi economics.

https://www.amazon.co.uk/Planet-Ponzi-M ... 0552778273

It's a great read so far, and somewhat unnerving for us, given our recent financial activities. But what I find of most surprise is that the author is not a great advocate of the downfall of Capitalism, but rather (at the time of writing) a hedge fund manager!!

Anyone else read this book already?

Matt

uspaul666
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Re: Planet Ponzi

#141475

Postby uspaul666 » May 26th, 2018, 12:29 pm

If only there was a way to profit from the falling markets when they come. Some kind of fund perhaps.

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Re: Planet Ponzi

#141481

Postby TheMotorcycleBoy » May 26th, 2018, 12:50 pm

uspaul666 wrote:If only there was a way to profit from the falling markets when they come. Some kind of fund perhaps.

Actually the author (who admits not to being a genius in anyway) claims to have made some money in the Credit Crunch, because he bought some puts, after seeing it coming. I assume these are basically short-selling options??

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Re: Planet Ponzi

#141491

Postby uspaul666 » May 26th, 2018, 2:00 pm

Yes. Your author bought the right (but the obligation) to sell a stock, at a certain price, at some point before a certain date. If, by the time the author exercised that right to sell and the market price had dropped by 50%, they can buy some from the market for £10 and sell it via the put for £20.

TheMotorcycleBoy
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Re: Planet Ponzi

#141512

Postby TheMotorcycleBoy » May 26th, 2018, 3:20 pm

Has anyone read it?

The picture he paints a grim picture regards US debt and annual deficit. I guess the UK's is like a scaled-down version?

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Re: Planet Ponzi

#141674

Postby Slarti » May 27th, 2018, 1:23 pm

Melanie wrote:Has anyone read it?

The picture he paints a grim picture regards US debt and annual deficit. I guess the UK's is like a scaled-down version?


Not read it, but to add to the grimness, as someone pointed out yesterday, after the Wall St crash USA put laws into position to stop it happening again.
1999 those laws were removed, 2008 another market crash and so the laws were replaced.

This year the laws were again removed ...


Slarti

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Re: Planet Ponzi

#141685

Postby TheMotorcycleBoy » May 27th, 2018, 3:16 pm

Yes, in the book, although it is plain that the UK, US, Japan, etc. etc. have all stacked up considerable debt where as one or two more prudent countries, (Sweden?) actually run a surplus right now....it seems that the US is most extreme case. Although, I'm yet to read the (next) chapter focussing on the UK, it seems that our level of austerity / taxation measures, have been more sane than those of the States.

Though, of course, any crash over there, tends to send waves around the whole globe.... :(


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