Dave you'll be glad to know our awesome local council had £1 million in an Icelandic bank, yup, not even Burnley has escaped this crisis!
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1 Million is a piss in the ocean though. They will spend 20-30 on stupid projects like a statue in a city.
I hate the arrogance and stipidity of the press now.Last edited by FelixofMars; 11-10-2008, 18:15.Comment
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I've reassessed my theory. I now believe it's because of the rising price of food and housing.
The most valuable commodities to life are food and shelter. With the price of food and housing shooting through the roof, everyone panics. Now that house prices and food are dropping again, we'll be back to normal in no time
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I wouldnt be so sure about that..Originally posted by charlesr View PostI've reassessed my theory. I now believe it's because of the rising price of food and housing.
The most valuable commodities to life are food and shelter. With the price of food and housing shooting through the roof, everyone panics. Now that house prices and food are dropping again, we'll be back to normal in no timeComment
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heheh, thus my smiley.
Daily Mail yesterday ran the headline "Worst Week Ever".....
LOL. I know they were talking about the stockmarket, but gah.Comment
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Oh yeah, stuff like earthquakes and tsunami's have nowt on your pension and investments being temporarily lower
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....or millions of people being marched into ovens.
...or millions of working class prior marching on to guaranteed mini-gun death.
The current system, along with all it's high surfers, deserves to fall flat on it's ass.Comment
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I apologise if this has been addressed earlier in the thread, but I've been thinking about something.
A bank goes under and you lose anything over 50k, yet if you go under on your mortgage they repossess. How come savers can't storm the banks branches and take goods to the value of?
Better still, if the bank you have your mortgage with goes under why doesn't the mortgage debt be reduced to no more than 50k? Because like gangsters, other banks witll buy up your debt and continue to squeeze interest out of you....Comment
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Because that would be fair... and we don't live in a fair world.Originally posted by gunrock View PostComment
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because if it gets to that stage, they won't have any assets left for you to claim. The administrators will look at settling external debts first, then customer based debt, then shareholders.Originally posted by gunrock View PostComment
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Let's cut production because, boo hoo, the price is too low.
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they'll fall flat on their faces when they notice people can't afford it and cut down on oil usageComment
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Agreed, sadly we need the oil at the moment. Though its going to be fun when they bring on the alternatives.Comment
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There is indeed a fortune to be made.
To the guy who was worried about the EUR - sorry it will go through the floor along with the pound.
What we need to see is massive cuts in rates by the ecb and boe and quickly along with coherent fiscal policies from the govts. Unfortunately the uk govt is in debt to its eyeballs and unlike the US which can afford to spend spend spend any fiscal stimulus will not be able to stave off at least 24 months of recession. There is pain ahead.
The US will most likely see post election massive infrastructure spending to help prop the economy - with inflation not a worry (due to looming epic recession) it can afford to keep the printing pressses running. It will continue to find people willing to lend it money as the global decoupling myth is revealed like we've seen over the last few days where the emerging markets have been smashed to smithereens and the dollar has rallied to the point of lunacy in an economy that will more than likely end up with a zero interest rate.
Anyways expect global recessionary forces for next 12-24 months if central banks and govts act now or even worse if (like Trichet and King) they sit on their arses and complain about inflationary forces......Comment
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The whole thing explained. This is 8 mins of genius. And recorded a year ago
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