This is starting to get a little scary Page 370

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  • dsmx 24 Feb 2013 10:37:11 7,692 posts
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    who else fault is it then? Who else borrowed all that money and left us with nothing to show for it?

    "If we hit that bullseye the rest of the dominoes will fall like a a house of cards, checkmate." Zapp Brannigan

  • Madder-Max 24 Feb 2013 11:41:47 11,680 posts
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    P
    dsmx wrote:
    Self fulfilling prophesy really, cut a nations credit rating, borrowing costs more so they are less able to repay the debt so the credit rating gets lowered again and so on.
    Following the previous logic of posts in this thread, would not the downgrading add value to debt for banks, which could be the reason for the downgrading. If we arer headed into a sustained recession/depression then would the banks either want debt to take longer to pay back, or have the ability to seize homes and posessions etc to shore up the banks capital?

    It sounds like payday loan tactics. The banks don't want u to pay back loans.

    I don't claim to have great knowledge of these things btw.

    Oh and as public services and infrastructure are mostly privatised then investing in these things will only benefit the companies running them and not society as a whole.

    Massivley fucked up situation which will go on for years and it was maggie thatcher who advocated privatisation and conservatives who started it. Labour the capitalised on that, spent all the money and fucked off.
    Edited by Madder-Max at 11:43:16 24-02-2013

    Edited by Madder-Max at 11:48:22 24-02-2013

    99 problems and being ginger is one

  • Kilters 17 Mar 2013 10:39:08 579 posts
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    So, Cyprus confiscating 6 -10% of depositors savings at the behest of the EU. Bondholders are not touched.

    Wait for the bank runs and capital controls tomorrow. This won't escape the Beppe Grillo supporters in Italy and it could snow ball from there.

    Edited by Kilters at 10:39:19 17-03-2013
  • sport 18 Mar 2013 09:16:16 12,798 posts
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    It wouldn't surprise me if LB is behind all of this. Stealing from the poor Cypriots!
  • glaeken 18 Mar 2013 10:01:45 11,243 posts
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    The Cyprus thing on the face of it seems like one of the stupidest idea's I have ever heard. I mean what do they think is going to happen if they try and do something like this? Even if they get away with a quick smash a grab before anyone has a chance to move their money surely all the investors are still going to be looking into moving their money to somewhere safe. I know I would. If something like that happens once I would sure as hell take steps to try and avoid being got again in the future.

    It just seems a stupidly short sighted approach.
  • mcmonkeyplc 18 Mar 2013 10:34:07 39,521 posts
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    They're getting bonds for the tax so it's not exactly theft, more like an imposed investment.

    Come and get it cumslingers!

  • glaeken 18 Mar 2013 10:57:15 11,243 posts
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    Bonds in the banks. I am sure they will prove to be a sound investment. I don't see anyway they could become worthless. Well unless someone is stupid enough to trigger a run on their banks.
  • mcmonkeyplc 18 Mar 2013 11:44:35 39,521 posts
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    glaeken wrote:
    Bonds in the banks. I am sure they will prove to be a sound investment. I don't see anyway they could become worthless. Well unless someone is stupid enough to trigger a run on their banks.
    Bonds in offshore gas drilling...

    Come and get it cumslingers!

  • glaeken 18 Mar 2013 12:01:59 11,243 posts
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    Bah. You and your facts. I was on a good rant there.
  • sport 18 Mar 2013 12:18:06 12,798 posts
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    mcmonkeyplc wrote:
    glaeken wrote:
    Bonds in the banks. I am sure they will prove to be a sound investment. I don't see anyway they could become worthless. Well unless someone is stupid enough to trigger a run on their banks.
    Bonds in offshore gas drilling...
    So they're forcing depositors to destroy the environment?!?!?
  • Deleted user 18 March 2013 12:20:48
    How do you drill gas? It's all floaty.
  • Load_2.0 18 Mar 2013 12:27:43 19,530 posts
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    They trap it in cages first.

    They only want all that sweet Russian Mafia cash. The peasants should leave their money alone. What are they going to spend ut on anyway? Olive oil and cheap crockery.
  • Bremenacht 18 Mar 2013 20:38:29 19,443 posts
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    Who to believe?

    Dodd-Frank Solved 'Too Big to Fail' says Wells-Fargo CEO.
    Too Big To Fail Problem 'Is Getting Worse, Not Better' says Alan Greenspan.

    Who do you believe?

    I'm inclined to think neither.
  • LeoliansBro 18 Mar 2013 20:47:30 44,769 posts
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    Dodd-Frank and specifically the Volcker rule didn't really address 'too big to fail' because it targeted the wrong area of banking from a risk perspective. This is widely accepted by the wider economic community (or at least the Economist plus associated bloggers) but then the US love to make their regulation prescriptive, non-interpretational, rigid and unsubtle. They're great at making sure what happened never happens again, but when it comes to predicting the next problem they're awful. See also: Enron and Sarbanes Oxley.

    And all Alan Greenspan means is that distressed firms were bought up by other giants and have now recovered. In that respect he's right. But see above: 'too big to fail' has been sidelined and solved. Those two statements in Bremenacht's post are not mutually exclusive.

    LB, you really are a massive geek.

  • Bremenacht 18 Mar 2013 21:05:05 19,443 posts
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    I'm not saying they are.

    To me, the first guy is saying he jumped through a hoop so job done. Box ticked; get off our backs. Not quite the same as solved, but I don't know enough about it to argue the point.

    Greenspan, well, he's damaged goods isn't he? Who can trust a word he says? It makes sense, but it's Greenspan saying it. Like you say, is he looking towards what's around the corner, or just making the right noises?
  • Lamb 19 Mar 2013 20:01:51 474 posts
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    Anyone advocating confiscating deposits of savers for more loans is frankly from the wrong end of the gene pool. Goverment only works with checks and balances and its not easy work.

    http://www.telegraph.co.uk/finance/financialcrisis/9941380/Cyprus-rescue-in-chaos-as-bank-levy-rejected.html
  • Madder-Max 20 Mar 2013 22:01:04 11,680 posts
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    Heh. Pub is dead tonight and a customer came in and asked why. I replied: "they are all waiting for the penny to drop! "Derpity derpity derp, tiddly dummity hodili ho.

    Think about it. Its multi layered like an onion

    99 problems and being ginger is one

  • DaM 20 Mar 2013 22:17:08 13,459 posts
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    Madder-Max wrote:
    Heh. Pub is dead tonight and a customer came in and asked why. I replied: "they are all waiting for the penny to drop! "Derpity derpity derp, tiddly dummity hodili ho.

    Think about it. Its multi layered like an onion
    I'm assuming you immediately slashed all pint prices by a penny, to help save the economy?
    I remember as a child, my parents rushing out to fill up the car with petrol after the budget rises, there used to be queues at the pumps, as the increases came in at midnight.
  • Madder-Max 20 Mar 2013 22:18:36 11,680 posts
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    Nah. Won't happen. The brewery will see margin

    99 problems and being ginger is one

  • Madder-Max 22 Mar 2013 09:31:10 11,680 posts
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    So the budget just helped corporations and people who want second homes then?

    99 problems and being ginger is one

  • Bremenacht 22 Mar 2013 14:22:45 19,443 posts
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    Madder-Max wrote:
    Nah. Won't happen. The brewery will see margin
    Heh, yeah. No-one else will notice a change. Someone will brew a new vat and call it 'Penny Drop' for a joke.
  • Bremenacht 22 Mar 2013 14:24:06 19,443 posts
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    Madder-Max wrote:
    So the budget just helped corporations and people who want second homes then?
    It's who's paying for it that stinks. Another round of cuts. At least we're not Ireland. Or Greece. Or Cyprus.
  • Bremenacht 27 Mar 2013 23:11:50 19,443 posts
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    Moral Failure: Why have we not cut the heads off bankers and stuck them on pikes?
  • DaM 27 Mar 2013 23:35:38 13,459 posts
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    Bremenacht wrote:
    Moral Failure: Why have we not cut the heads off bankers and stuck them on pikes?
    That we so want those involved to get their just deserts
    Like the Sahara?! You'd never get this in Nature :)
  • Madder-Max 30 Mar 2013 17:30:31 11,680 posts
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    Bremenacht wrote:
    Madder-Max wrote:
    Nah. Won't happen. The brewery will see margin
    Heh, yeah. No-one else will notice a change. Someone will brew a new vat and call it 'Penny Drop' for a joke.
    Well, the brewery passed on the penny drop on lagers and ales.....and its a pain in the arse cos we are running out of copper change and the regulars are moaning about having copper coins oin their pocket. They're a miserable bunch of cunts anyway!

    99 problems and being ginger is one

  • Deleted user 1 April 2013 11:32:31
    I've been very forgiving and understanding of this government. They have a difficult job to do etc. But this welfare reform, starting from today is beyond unfair and is now just plainly cruel. Coupled with the legal aid cuts the party should be fucking disgusted. All founded on bullshit rhetoric. This is why people will vote for independence, not 'our oil!' Nonsense. Just to get away from this rancid gov and the fools that voted them in.

    Edited by mowgli at 11:33:04 01-04-2013
  • Bremenacht 14 Apr 2013 12:24:03 19,443 posts
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    mowgli wrote:
    This is why people will vote for independence, not 'our oil!' Nonsense. Just to get away from this rancid gov and the fools that voted them in.
    You're right. All Salmon has to do is point at the anti-independence people and call them Tories. It's been a terrible government, even allowing for the stacked deck they had. The 'legacy' of this government will be longer lasting damage and misery than anything Thatcher did.
  • themanfromdelmonte 14 Apr 2013 12:33:49 591 posts
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    @Bremenacht

    In a thread about a financial crisis precipitated by Banking deregulation and the overzealous doctrine of free markets as a panacia. I seriously doubt this government will have anything like the longterm impact.
  • Razz 25 Apr 2013 08:39:45 61,618 posts
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    Will we see a triple dip recession today?

    Edited by Razz at 08:40:22 25-04-2013

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  • Destria 25 Apr 2013 09:36:13 2,836 posts
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    Apparently not. Time to spend spend SPEND!
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