This is starting to get a little scary Page 380

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  • LeoliansBro 19 Nov 2013 13:23:39 41,866 posts
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    The US President is such a weird role, given what the US actually really is (a confederacy rather than a country proper). Ask what the President actually does - commands the Army, can veto bills although he can be overruled, appoint a lot of influential people, and set the agenda for discussion while acting as figurehead for his party.

    He doesn't make laws, he doesn't approve laws, he influences rather than executes. Says a lot that The West Wing series was populated with characters from HR and PR.

    LB, you really are a massive geek.

  • bitch_tits_zero_nine 19 Nov 2013 13:25:41 6,654 posts
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    Yeah, you know it better than me. I suspect the grass is greener tbh.
  • Moot_Point 19 Nov 2013 21:41:45 3,512 posts
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    About bloody time!

    This is what needs to happen here. I haven't seen one bank being fined as much as this yet. But here we are in a state of austerity paying for the banks mistakes, whilst most of them are in their Dubai hideaways. Makes me sick!

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    mowgli wrote: I can't believe this is still going. I'm far too hungover for this. I did not poop on a chair lol!

  • spindizzy 19 Nov 2013 23:11:10 6,400 posts
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    I'm not sure many if the people genuinely guilty will have lost much by this. But if it makes it less likely to happen again (for a while anyway) ...
  • Moot_Point 20 Nov 2013 00:10:25 3,512 posts
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    Well another bubble is growing as we speak, fueled by the Governments right to buy mortgage scheme. Guess who's making money like 2001 again?

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    mowgli wrote: I can't believe this is still going. I'm far too hungover for this. I did not poop on a chair lol!

  • Bremenacht 24 Nov 2013 18:11:57 15,756 posts
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    Nasty. They're not alone. Wonder how long it takes before Accenture come under newsmedia focus.

    Once an eagle taught me courage. And I will never forget that day

  • orpheus 26 Nov 2013 18:50:47 984 posts
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    Post deleted
  • Moot_Point 26 Nov 2013 18:54:25 3,512 posts
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    Reddit, really?

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    mowgli wrote: I can't believe this is still going. I'm far too hungover for this. I did not poop on a chair lol!

  • orpheus 26 Nov 2013 19:29:21 984 posts
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    Post deleted
  • monkehhh 26 Nov 2013 20:17:00 3,129 posts
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    .
  • Moot_Point 28 Nov 2013 17:51:06 3,512 posts
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    "Steering the bubble..". No help to me though, as my landlord has decided to put my flat on the market thanks to this bubble. :|

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    mowgli wrote: I can't believe this is still going. I'm far too hungover for this. I did not poop on a chair lol!

  • Psychotext 28 Nov 2013 19:20:09 52,793 posts
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    Gah.
  • Deleted user 1 January 2014 08:02:43
    Let's start the new year on a positive note:

    The Power of Free Money

    In the 2010 report "Just Give Money to the Poor," researchers from the Organisation for Economic Co-operation and Development give numerous examples of money being scattered successfully. In Namibia, malnourishment, crime and truancy fell 25 percent, 42 percent and nearly 40 percent, respectively, after grants were given. In Malawi, school enrollment of girls and women rose 40 percent in settings where money was given with or without conditions on its use. From Brazil to India and from Mexico to South Africa, free-money programs have flourished in the past decade. More than 110 million families in at least 45 countries benefit from them.

    It is time to apply these lessons to rich but increasingly unequal societies. A world where wages no longer rise still needs consumers. Middle-class purchasing power has been maintained through loans, loans and more loans. The Calvinistic reflex that you have to work for your money has turned into a license for inequality.

    Legend has it that while Henry Ford II was giving a tour around a new, highly automated factory to union leader Walter Reuther in the 1960s, Ford joked: "Walter, how are you going to get those robots to pay your union dues?" Reuther is said to have replied: "Henry, how are you going to get them to buy your cars?"
  • urban 9 Jan 2014 16:00:53 10,893 posts
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    I always get really fucked off when these New Year retail reports come out, it's almost we're getting guilt tripped and blamed for not buying enough SHITE

    You lot didn't buy enough shite, buy more shite because the economy won't recover if you dont, signed, cunts who slam the stock exchange because morrisons didn't make 100 million more profit than they said they would.
    Can I swear more please?
  • TheSaint 9 Jan 2014 16:05:52 13,630 posts
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    Personally I think it's quite interesting how our (food) shopping habits are changing. Most of the big boys are struggling yet the two extreme ends in Aldi and Waitrose are doing better than ever.

    I'd hate to have to fight my way around a supermarket to do the weekly shop so love being able to do it all online and it seems a lot of the British public feel the same.
  • urban 9 Jan 2014 16:22:32 10,893 posts
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    @TheSaint that'll be the polar divide between rich and poor
  • TheSaint 9 Jan 2014 16:25:18 13,630 posts
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    Not really, you don't have to be rich to shop at Waitrose. We do all our food shopping with Ocado yet buy all our household stuff like washing powder and dishwasher tablets from the local Aldi as it's so much cheaper.

    It's more about treating yourself for certain things and saving with others.
  • sport 10 Jan 2014 13:55:05 12,046 posts
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    Don't "they" have any shame?!?!
  • LeoliansBro 10 Jan 2014 14:05:31 41,866 posts
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    That film looks like a weird one. They obvious mean it to be, ultimately, a cautionary tale about fraud and excess. But from what I've seen it looks to be hamstrund by being played for laughs, by the fact the principal character is still alive and so they're being nice, and by the fact that the story is about someone who earns loads of money illegally and enjoys himself, and we've been conditioned to root for gangsters already for decades.

    LB, you really are a massive geek.

  • LeoliansBro 13 Jan 2014 17:08:04 41,866 posts
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    So, here's interesting.

    Argentina are currently in the US law courts regarding their position on repayment of investors who do not agree to their restructuring plan. Argentina has said that it will repay 30% of all loans to external people who have lend it money, writing off the rest. Most have agreed to this as a way of getting some of their money back. But two large investors have refused to go along with the plan and want 100% of their money back.

    Argentina's position is that those who don't agree with their 30% restructure will get repaid nothing. The US supreme court is deciding whether that is right or not. And the final noteworthy point is that Greece, who similarly defaulted and offered 25% paybacks to its investors, ended up paying 100% back to those who refused to cooperate. One of the solutions involves having investors agreed to a majority rule, whereby if the majority of investors agree to a restructure the rest must follow suit.

    All sorts of interesting throwoffs from this:

    - If Argentina's position is upheld then they'll never be able to borrow a bean ever again.

    - If Argentina is overruled then nobody will ever be able to negotiate a debt restructure in this fashion ever again.

    - If this collective agreement is put into place then it can lead to some very interesting macroeconomic strategies, such as a large fund targetting a competitor by investing heavily in a country that competitor is investing in, and then forcing then vote towards a restructure, losing the investor money (and the predator company as well, but it may still be advantageous).

    The real problem here is that 'too big to fail' when applied to a country is cast iron, because the alternative is unthinkable.

    Edited by LeoliansBro at 17:08:49 13-01-2014

    LB, you really are a massive geek.

  • Khanivor 13 Jan 2014 17:11:37 39,891 posts
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    Even if Argentina wins their position then folks will lend them money again. There's money to be made with other people's money so someone will decide they like that offer.

    Anyway, won't this only effect lenders under US jurisdiction?
  • LeoliansBro 13 Jan 2014 17:17:28 41,866 posts
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    Well, it sets a legal precedent only in the US but it's the difference between a sovereign state fleecing investors *with* the blessing of the country the investors are from, and *without*. It'll defintiely be noticed.

    Argentina's very close to being unable to borrow as it is. They sold off huge natural resource fields to foreign investors over the last five years, allowed them to come in and develop the sites and then last year renationalised everything without compensation because it was 'in the national interests'.

    They are the definition of shorttermists.

    LB, you really are a massive geek.

  • Bremenacht 13 Jan 2014 17:23:49 15,756 posts
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    If this is the story I think it is, isn't one of those investors actually Spain?

    In any case, Kirchner or whatever her name is will probably be chucked out within a few years and things will change again.

    Once an eagle taught me courage. And I will never forget that day

  • Load_2.0 13 Jan 2014 17:24:10 18,201 posts
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    LOL

    I like the way they do business in Argentina.

    Plus they have good steaks and hot women. Admittedly the crime rate and impending economic collapse put a bit of a dampner on the whole thing.
  • LeoliansBro 13 Jan 2014 17:27:21 41,866 posts
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    They're running pretty fast in the direction of a 'failed state' at the moment. They have terrifying inflation and have 'Enroned' their way out of a couple of crises already (gone for things which benefit now but will cause bigger problems long term). And when a state resorts to warmongering rhetoric to disguise its domestic failures in the eyes of its populace, that state is fresh out of solutions.

    LB, you really are a massive geek.

  • FWB 13 Jan 2014 17:29:21 41,980 posts
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    Sounds like a Falklands invasion is needed to distract everyone.
  • LeoliansBro 13 Jan 2014 17:36:34 41,866 posts
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    That's pretty much what they're on about, sort of the same with Spain and Gibraltar. Manufacture a foreign crisis to create an external opponent and distract from domestic and other problems.

    LB, you really are a massive geek.

  • FWB 13 Jan 2014 17:49:09 41,980 posts
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    That's what much of foreign policy is really about. Of course, some are more pathetic than others.
  • Bremenacht 13 Jan 2014 17:55:24 15,756 posts
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    The great thing is, that although most countries will support any crackpot state with a grievance against GB on the basis of redressing 'colonialism', that support disappears when the possibility of losing money arises. Hence, Spanish support for the claim on the Falklands has disappeared. For now, anyway.

    Really, they ought to invade again. There's little the UK could do about it, other than send a couple of destroyers to hunt non-existent submarines, and an aircraft carrier with no aircraft.

    Once an eagle taught me courage. And I will never forget that day

  • LeoliansBro 13 Jan 2014 17:58:35 41,866 posts
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    Argentina could probably muster an invasion force consisting of three fishing boats and a lost pedalo at the moment.

    LB, you really are a massive geek.

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