Post by richard on Oct 2, 2008 22:06:04 GMT
hey Guys
what are your views on the credit crunch ( global banking crisis )
house prices in USA , UK , IRELAND , slumping and all new
mortages at a vertual stand still.
are we looking at a long economic slow down (recession)
or worse some thing resembling the great depression of the late 1920,s to early 1930,s ?
and if we are , the question is ,,are we are in a more fragile state to weather it than we were 80 years ago ? ( as even food distribuition is a global thing esp here in UK as we dont grow
now most of the major foods which are essential we import them.
(in the great depression all the jobs went but we could at least still eat )
in the USA the bailout using public money of some $700 billion
is being voted on to be used to off-set some of the bad debt.
in europe the French have suggested that europe may need
some simialr package in some kind of partnership with other euro
countries although Germany , Holland , UK , Spain would never
beable to work together and are all trying their own versions
in some shape or another.
some are now looking at buying gold and store it in Switzlerand
in case their own paper currency becomes worthless decorated
toilet paper they can then still trade the gold some where in the world
in Ireland the Irish Prime Minsiter has used a bold move to
try and safe guard his Country banking system and economy
by gaurentee 100% of Irish banks deposits should a bank fail
this has also warned off the vultures that were beginning to hover around the Irish banking system and have brought some valuable breathing space
in the UK the picture is growing more sinister with Banks funding drying up more and more with several banks already merged
and 2 banks now in the hands of the British treasury.
about 6 months ago the Bank of England to help keep money moving did a deal with the uk banks allowing them to trade
banking assets for short term loans from the Bank of England
it now turns out they have since almost run out of quality assets
to trade and are now left with only commercial property loans
and car loans !
i would like to get a gauge on the feeling with the rest of you guys
(those that think its an issue )
as if the worse comes to the worse and everything collapses
domino style ..... well it will mean that China and its 15 year plan to become the Worlds dominant player will come into play very early.
anyways on a lighter note
the banking Giant in Japan the "SUMO" bank , has just gone belly up !!
this followed by the SUSHI bank giving its share holders a "raw deal " !!!
tip of the month
get your cash from the bank and store it all in your beds matress
that way at least its still there in the SPRING !
what are your views on the credit crunch ( global banking crisis )
house prices in USA , UK , IRELAND , slumping and all new
mortages at a vertual stand still.
are we looking at a long economic slow down (recession)
or worse some thing resembling the great depression of the late 1920,s to early 1930,s ?
and if we are , the question is ,,are we are in a more fragile state to weather it than we were 80 years ago ? ( as even food distribuition is a global thing esp here in UK as we dont grow
now most of the major foods which are essential we import them.
(in the great depression all the jobs went but we could at least still eat )
in the USA the bailout using public money of some $700 billion
is being voted on to be used to off-set some of the bad debt.
in europe the French have suggested that europe may need
some simialr package in some kind of partnership with other euro
countries although Germany , Holland , UK , Spain would never
beable to work together and are all trying their own versions
in some shape or another.
some are now looking at buying gold and store it in Switzlerand
in case their own paper currency becomes worthless decorated
toilet paper they can then still trade the gold some where in the world
in Ireland the Irish Prime Minsiter has used a bold move to
try and safe guard his Country banking system and economy
by gaurentee 100% of Irish banks deposits should a bank fail
this has also warned off the vultures that were beginning to hover around the Irish banking system and have brought some valuable breathing space
in the UK the picture is growing more sinister with Banks funding drying up more and more with several banks already merged
and 2 banks now in the hands of the British treasury.
about 6 months ago the Bank of England to help keep money moving did a deal with the uk banks allowing them to trade
banking assets for short term loans from the Bank of England
it now turns out they have since almost run out of quality assets
to trade and are now left with only commercial property loans
and car loans !
i would like to get a gauge on the feeling with the rest of you guys
(those that think its an issue )
as if the worse comes to the worse and everything collapses
domino style ..... well it will mean that China and its 15 year plan to become the Worlds dominant player will come into play very early.
anyways on a lighter note
the banking Giant in Japan the "SUMO" bank , has just gone belly up !!
this followed by the SUSHI bank giving its share holders a "raw deal " !!!
tip of the month
get your cash from the bank and store it all in your beds matress
that way at least its still there in the SPRING !