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| Passion Vine House |
 Posted: Thu Apr 30, 2009 5:50 pm |
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The True Cost of The Credit Crunch
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Admin
Joined: 30 Nov 2006
Posts: 4030
Location: Los Angeles
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| I went into our local hospital this morning, Kaiser Permanente-one of the biggest, and it was incredibly busy. I was shocked at the number of kids with 'flu.. the ordinary day to day colds that kids get. I honestly can't see how we can avoid a pandemic but at the same time I applaud the school districts and health care centers for doing all they can to keep it at bay. |
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| sunray |
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Posted: Fri May 01, 2009 2:26 am |
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The True Cost of The Credit Crunch
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Site Admin
Joined: 01 Jan 1970
Posts: 6689
Location: UK
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| rainbowseeker |
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Posted: Fri May 01, 2009 3:36 am |
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The True Cost of The Credit Crunch
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PheeBay Supporter
Joined: 25 Feb 2007
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Location: Wisconsin USA
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| sunray |
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Posted: Fri Feb 05, 2010 12:25 pm |
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The True Cost of The Credit Crunch
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Site Admin
Joined: 01 Jan 1970
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Location: UK
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Dunno about anyone else but I'm getting a strong sense that a second pile of poo is about to hit the financial market fans as various economies and currencies start to buckle.
The rather amusingly dubbed PIGS economies (Portugal, Ireland, Greece & Spain) are really stuck between a rock and hard place. In days gone by they could have considered devaluation of their currencies to solve some their increasing debt driven problems. But now they are part of the Euro they can't do this.
The result is these countries are becoming increasingly uncompetitive and risk a spiral of economic meltdown because their currency is tied to the dominant economy of Europe - namely Germany. Herein lays the problem with a single currency adopted by multiple economies and markets.
While it could get to the breaking point that means the weakest european economies have to abandon the Euro, the more sensible solution (albeit peverse) could be to have Germany go back to their Deutshe Mark and let the Euro fall in value dramatically. That would significantly help the PIGS countries although the French wouldn't be very happy....
Might seem an extreme idea at the moment but I wonder how unimaginable it will be when the German people realise they might have to effectively start bailing out countires with sovereign debt levels that dwarf the Lehman Bros situation. German reunification would look like a walk in the park by comparison.
Given the UK debt levels aren't all that far away from being ranked alongside the PIGS, Gordon Brown must be sweating that the next economic tsunami to hit the UK doesn't make land before the May elections here in the UK. As a betting man I'm thinking he might be dissappointed. |
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| 0ctavias0fferings |
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Posted: Fri Feb 05, 2010 12:34 pm |
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The True Cost of The Credit Crunch
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Admin
Joined: 29 Oct 2006
Posts: 7936
Location: Highlands of Scotland
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Double dip 
Of course, the economic predictions have been so varied that someone is bound to get it right, but the greater part of the discussions and predictions I was listening to seemed to be leaning towards the double dip.
It's actually the most logical, especially when you see that the same old same old seems to be in progress and that's what led to the recession in the first place 
I guess eventually someone will suggest repeating the solution to the last recession, give everyone and their dogs credit cards. No-matter that they won't ever be able to pay them off
Oh yes, and mortgages for the underpriviledged as well, keep the engine running. |
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| sunray |
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Posted: Fri Feb 05, 2010 1:05 pm |
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The True Cost of The Credit Crunch
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Site Admin
Joined: 01 Jan 1970
Posts: 6689
Location: UK
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IMO we've never got out of the mess that caused the original recession in the first place.
Stock markets only rose like NASA rockets last year because of the sheer volume of money that was pumped in to the financial system. It had to go somewhere. As interest rates for cash deposits are lousy, guess where it would have gone?
Governments have damn near bust their countries now to apply an enormous sticky band aid over the global banking system which lent so much good money all diced and sliced across so much bad risk everywhere. We are gonna be in real poo if the band aid starts losing its adhesion cos we sure as hell can't afford another one.
IMO they never properly fixed the hole in the bottom of the financial system's bucket. So they poured loads more water in the top instead of pumping it up from below. They believed the rules of business that apply to everyone else didn't apply to major banks.
The banker bonuses are a tiny drop in the ocean when it comes to the enormity of the problems but, I do agree, in that they are symptomatic of the state of our banking system's leaders competence, arrogance and ignorance.
Turn the clock back a 100 years and see how they ran things based upon what had been learned over centuries. The minute the get rich quick mentality based on nothing but debt arrived (1920s) the bubble and bust culture began. Now we are in the digital age and transactions can be done in split seconds spanning continents, it just leverages up the scale of the problem when stupidity strikes.
Oh to live in Victorian times again  |
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| sunray |
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Posted: Wed Feb 17, 2010 5:14 pm |
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The True Cost of The Credit Crunch
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Site Admin
Joined: 01 Jan 1970
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Location: UK
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Is there any truth in the idea that Barack Obama is getting jealous of Europe?
I hear he is thinking of printing the money to buy Canada to keep up with us now that Europe has moved on from bailing out the banks to bail out entire countries. |
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| 0ctavias0fferings |
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Posted: Wed Feb 17, 2010 5:29 pm |
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The True Cost of The Credit Crunch
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Admin
Joined: 29 Oct 2006
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Location: Highlands of Scotland
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no, no, we're not really bailing out Greece  it's just some kind of loan guarantee deal isn't it |
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| sunray |
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Posted: Wed Feb 17, 2010 5:31 pm |
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The True Cost of The Credit Crunch
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Site Admin
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| 0ctavias0fferings |
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Posted: Wed Feb 17, 2010 5:32 pm |
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The True Cost of The Credit Crunch
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Admin
Joined: 29 Oct 2006
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Location: Highlands of Scotland
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| ... and reserving the sunloungers |
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| sunray |
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Posted: Wed Feb 17, 2010 5:36 pm |
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The True Cost of The Credit Crunch
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Site Admin
Joined: 01 Jan 1970
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Location: UK
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They will OWN all the greek sunloungers soon
Still, could be worse, Toyota isn't a Greek company and hopefully there will still be some cash left at the IMF when this Labour Government in the UK finally gets told to stop spending by whoever bails us out. |
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| 0ctavias0fferings |
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Posted: Wed Feb 17, 2010 5:44 pm |
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The True Cost of The Credit Crunch
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Joined: 29 Oct 2006
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Location: Highlands of Scotland
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sunray wrote: whoever bails us out.
China I guess  |
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