USA panics, the EU simply fails and Japan humbled: welcome to meltdown-o-rama!

[Prestwick]

http://news.bbc.co.uk/1/hi/business/7662572.stm
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<div align='left'>Says it all, really. the financial markets are in serious turmoil with the markets in Austria, Indonesia and elsewhere suspended due to panic trading. The G7 finding it hard to agree on anything and President Bush telling the markets to calm down led to the Dow Jones (as an already upset person would if some stupid bloody idiot said "okay, calm down!" in a really patronising way would) falling even further into panic and irrational selling today.

So, with America in a blind panic, Japan on the verge of slipping back into yet another decade of recession and Europe defying 50 years of integration to descend into a manic every-man-for-himself struggle for survival, dragging the very ideals of European Federalism & the viability of a single currency without a centralised central bank with a monopoly on the money supply with it, you have to wonder how much more worse is it going to get?

I'll have to say this now, when I said that there wasn't a hope in hell of the UK entering the Eurozone in the next decade, I knew I'd be proven right...but not under these circumstances! With the scramble to protect their own interests, the major nations of the EU may have put the very being of the Union at risk., thus putting out of work thousands of British and Irish bureaucrats! Okay, I'm joking there but while the world's stockmarkets burn what has our glorious European Parliament been up to?

Bickering over whether to play "Ode to joy" at the opening of Parliament...





















... :wall:

I now cede the floor to Shtove, the man in charge of defending the indefensible...</div>

 

[Charles]

All those cocky bankers and traders are not showing off right now are they... :angry:
f***ing greedy wankers putting the world in real kak...
At least we got the occasion to see the U.S.A govt being communist which is pretty funny

 

[Fa'atau82]

If i hear another word about this situation my brains are going to explode.

 

[Charles]

another word

*waits*

 

[Laetca]

<div class='quotetop'>QUOTE (Fa'atau82 @ Oct 10 2008, 10:00 PM) <{POST_SNAPBACK}></div>

If i hear another word about this situation my brains are going to explode.[/b]

I'm afraid this will continue to be a hot topic for some time. I heard someone sum it up as "Well, we're f*cked, aren't we?"

 

[St Helens RLFC]

I find it hard not to be amused by all this. The city have made hay whilst the son shines at our expense and I love seeing the picture of them with their heads in their hands.

YOU GOT SERVED.

I also love house prices coming down. Long may that continue! Rip off Britain.

 

[Bullitt]

I f***ing don't... I already own mine.

 

[gingergenius]

this is f***ing boring news. THere's nothing more boring than stocks and shares. They only make good news when they're flopping. Which makes them boring and depressing.

Having said that, this is just one of the dips you get with free-market economics. Give it another few years and the market will have sorted itself out again and we'll all be moaning about house prices being too high again.

I'm not saying any other economic system is going to be any better, but capitalism has some disgraceful imperfections, which are being highlighted atm. People will argue till kingdom come about wealth discrepancy and all the rest of it, but no one in the world can say, at this point in time, that the system is succeeding.

Unfortunately, given human greed, I can't imagine how any system of economics can ever work so it makes everyone happy.

 

[St Helens RLFC]

Boring?

This is like.... relevant to EVERYONE in the world. Its anything but boring.

 

[Bullitt]

Spoken like a true Sub-urban gang-star who probably still lives at home, therefore doesn't have the first idea of the cost of living. Nor what effect the current economic crisis has on said costs. Such as, for example, not affording mortgage repayments and being made homeless.

Pillock.

 

[gingergenius]

<div class='quotetop'>QUOTE (Teh Mite @ Oct 11 2008, 12:33 AM) <{POST_SNAPBACK}></div>

Spoken like a true Sub-urban gang-star who probably still lives at home, therefore doesn't have the first idea of the cost of living. Nor what effect the current economic crisis has on said costs. Such as, for example, not affording mortgage repayments and being made homeless.

Pillock.[/b]

What, so you've been sitting on your house that you're so proud that you already own, for the last 10 years when things have been going well for you and now you moan. What goes around...

 

[shtove]

Yeah, this is kind of boring ... if you aren't in debt.

If you are in debt, then you may be headed for bankruptcy.

Biggest debtor nations in the world? The US and ... [drum roll for Prestwick] ... the UK.

The US is kind of fcuked, but they'll find a way out. The UK is totally fcuked. Ireland, Spain - hard times a coming. Italy always has a hard time, but they still manage to have sex and drink fine wine. Rest of eurozone not too bad, apart from some big dumb banks.

If the euro survives this, the pound is toast. Might even see Switzerland join the euro if they have to turn to Frankfurt to prop up UBS.

And how sickening to see Brown being credited as a saviour when he fed off these perversions in the first place. The reason he and Dalek came out with their plan early this week was that RBS was about to collapse, and maybe Barclays too (the most leveraged bank in the world) - o my sainted trousers!

 

[Bullitt]

<div class='quotetop'>QUOTE (gingergenius @ Oct 11 2008, 01:35 AM) <{POST_SNAPBACK}></div>

<div class='quotetop'>QUOTE (Teh Mite @ Oct 11 2008, 12:33 AM) <{POST_SNAPBACK}>

Spoken like a true Sub-urban gang-star who probably still lives at home, therefore doesn't have the first idea of the cost of living. Nor what effect the current economic crisis has on said costs. Such as, for example, not affording mortgage repayments and being made homeless.

Pillock.[/b]

What, so you've been sitting on your house that you're so proud that you already own, for the last 10 years when things have been going well for you and now you moan. What goes around...
[/b][/quote]

Shut up you small minded tw*t. You clearly have no idea about the subject you're claiming to be an expert on and more then likely live off your pocket money from Mummy and Daddy.

With an attitude like yours, you wouldn't last a month in the real world.

<div class='quotetop'>QUOTE (shtove @ Oct 11 2008, 01:38 AM) <{POST_SNAPBACK}></div>

Yeah, this is kind of boring ... if you aren't in debt.

If you are in debt, then you may be headed for bankruptcy.

Biggest debtor nations in the world? The US and ... [drum roll for Prestwick] ... the UK.

The US is kind of fcuked, but they'll find a way out. The UK is totally fcuked. Ireland, Spain - hard times a coming. Italy always has a hard time, but they still manage to have sex and drink fine wine. Rest of eurozone not too bad, apart from some big dumb banks.

If the euro survives this, the pound is toast. Might even see Switzerland join the euro if they have to turn to Frankfurt to prop up UBS.

And how sickening to see Brown being credited as a saviour when he fed off these perversions in the first place. The reason he and Dalek came out with their plan early this week was that RBS was about to collapse, and maybe Barclays too (the most leveraged bank in the world) - o my sainted trousers![/b]

Yep. All of the above is worryingly true.

 

[QLD]

my parents are going bonkers about this

 

[Charles]

I suppose a lot of people are now feeling the market's invisible hand right up in their asses...
Well sorry for them but this is what happens when you deregulate the market too much. For years now people have been mocked and insulted for saying that this ultra capitalism was going too far...

It's a good thing for Milton Friedman that he's dead because he'd have had to face a lot of angry people.

 

[Bullitt]

In the UK, everything has gone ***s up because for 11 years Gordon Brown insisted on spending every last penny the treasury got on pointless crap (cough Millennium Dome), then borrowed even more to fritter it away. Because the city was doing alright and interest rate were low, it created this false sense of a strong economy. A bit like how the <strike>Communists</strike> Socialists fudged the numbers so anyone receiving an unemployment benefit was not registered as unemployed, therefore "unemployment is at an all time low".

However, back on topic, anyone in the agricultural, construction or manufacturing industries started feeling the pinch around 8 years ago and everything always comes back to those three... they fall down, we all fall down. With Blairs policies of turning the UK into an offshore Warehouse for the European market and wanting us all to work in the service industry, we had no big exports to generate revenue for the economy, so Brown had to borrow even more money to continue on his unquenchable thirst for spending *coughLondonOlympicscough*

Now Alistar "I love taxes, Me" Darling is in charge of the treasury, the poor old folk from merry ol' Blighty will be in a right old pickle for the next 2-3 years, until Brown gets his way and the UK joins the Euro. And we hand over all remaining powers to Brussels.

Don't be supprised if we don't see a crash even worse then the 1987 Black Monday within the next 2 weeks.


So, in other news, Which part of New Zealand will Mite go to live in?

 

[Charles]

I find it funny how you still manage to spit on the socialists as this mess is the consequences of a right wing capitalist doctine.

 

[Bullitt]

Despite the fact this country is run by a bunch of left wing socialists?

 

[QLD]

<div class='quotetop'>QUOTE (Teh Mite @ Oct 11 2008, 08:10 PM) <{POST_SNAPBACK}></div>

In the UK, everything has gone ***s up because for 11 years Gordon Brown insisted on spending every last penny the treasury got on pointless crap (cough Millennium Dome), then borrowed even more to fritter it away. Because the city was doing alright and interest rate were low, it created this false sense of a strong economy. A bit like how the <strike>Communists</strike> Socialists fudged the numbers so anyone receiving an unemployment benefit was not registered as unemployed, therefore "unemployment is at an all time low".

However, back on topic, anyone in the agricultural, construction or manufacturing industries started feeling the pinch around 8 years ago and everything always comes back to those three... they fall down, we all fall down. With Blairs policies of turning the UK into an offshore Warehouse for the European market and wanting us all to work in the service industry, we had no big exports to generate revenue for the economy, so Brown had to borrow even more money to continue on his unquenchable thirst for spending *coughLondonOlympicscough*

Now Alistar "I love taxes, Me" Darling is in charge of the treasury, the poor old folk from merry ol' Blighty will be in a right old pickle for the next 2-3 years, until Brown gets his way and the UK joins the Euro. And we hand over all remaining powers to Brussels.

Don't be supprised if we don't see a crash even worse then the 1987 Black Monday within the next 2 weeks.


So, in other news, Which part of New Zealand will Mite go to live in?[/b]

Why not Australia?

 

[redunderthebed]

<div class='quotetop'>QUOTE (Charles @ Oct 11 2008, 08:20 PM) <{POST_SNAPBACK}></div>

It's a good thing for Milton Friedman that he's dead because he'd have had to face a lot of angry people.[/b]

I was glad that he died.

Australia also copped it but unlike Europe and USA we learnt our lessons for 20 odd years ago and you wont see our big four banks hit the wall, infact they are looking to buy up smaller banks at fire sale prices which is great for those who joined those said banks to get away from the pricks. <_<