Global Financial Crisis

[Untitled.]

You say that now, but you'll change your mind when you're 75 and still working to pay the rent.

70 years to go.
70 years of freedom.
70 years of TW posting.

 

[Cleaning agent]

You say that now, but you'll change your mind when you're 75 and still working to pay the rent.

Well if I understand correctly, the debt created will be paid off when the banking shares bought are sold off at much higher prices. Personally, I'd rather be  paying off a debt my entire life, without any huge impact on my total income, than living a few of the most money intensive years of my life (University and starting out in adult life) in a period of recession.

As it is, the predicted time of recession is around a year, when it could have been more like five years, had the market crashed properly.

 

[Gculk]

Of course, now, if the banks STILL fail (they probably won't, but you never know), the economy will literally rip itself apart.  Fingers crossed that we get to see a show, instead of a bit of the relatively slow slide that is predicted now.

 

[Cleaning agent]

Of course, now, if the banks STILL fail (they probably won't, but you never know), the economy will literally rip itself apart.  Fingers crossed that we get to see a show, instead of a bit of the relatively slow slide that is predicted now.

Wait, are you hoping the economy will rip itself apart just so you can enjoy the show, or do you mean something else by "show"?

 

[italiano]

the debt created will be paid off when the banking shares bought are sold off at much higher prices

I'm not talking about the recent bailouts. The fact is that many governments and people are racking up unreasonable amounts of debt, and they'll find it hard to stay above water.

As it is, the predicted time of recession is around a year, when it could have been more like five years, had the market crashed properly.

Who predicted? There are many different opinions out there, and that's all they are. Many of the so-called experts have no idea what they're talking about, and those that do can only guess anyway. Someone will be right, but someone is always right, often just by chance.

I'd argue that we really need to see more from this to change the way the economies are controlled. As it is we're not going to learn lessons we need to learn. It's just human nature, we need to be spanked hard to make us think twice - a slap on the wrist just won't do it.

 

[Archonsod]

I'm surprised there's not more outrage in this thread. I suppose most are too young to be interested or aware.

I work in an area pretty much isolated from the vagaries of the economy, I don't have a mortgage or any other kind of debt beyond a contractually fixed 3% APR Student Loan and I have no savings. On top of all that, I've just been awarded a 23% payrise.

What ****ing recession?

 

[Fall of Denial]

The finnancial crisis will all be solved if we isolate ourselves, destroy our curreny, wipe out businesses, get rid of trade, and kill all humans.

With no humans, there would be no finnancial crisis. Problem solved.

 

[italiano]

What ****ing recession?

That's for everyone who threw their hard earned borrowed money into depreciating, illiquid bottomless pits, I mean "assets" . Recessions and crashes are a good thing. Even mother nature thinks so.

The finnancial crisis will all be solved if we isolate ourselves, destroy our curreny, wipe out businesses, get rid of trade, and kill all humans.

Leave out the "kill all humans", anarchy would be interesting times.

 

[Hersen]

I'm surprised there's not more outrage in this thread. I suppose most are too young to be interested or aware.

I work in an area pretty much isolated from the vagaries of the economy, I don't have a mortgage or any other kind of debt beyond a contractually fixed 3% APR Student Loan and I have no savings. On top of all that, I've just been awarded a 23% payrise.

What ****ing recession?

Archonsod: cannot be made redundant, even in a global economic crisis.

 

[Fay]

Time to make an isolationist survivalist group.

Anyone wanna join?

 

[Gculk]

Of course, now, if the banks STILL fail (they probably won't, but you never know), the economy will literally rip itself apart.  Fingers crossed that we get to see a show, instead of a bit of the relatively slow slide that is predicted now.

Wait, are you hoping the economy will rip itself apart just so you can enjoy the show, or do you mean something else by "show"?

**** yes.  It will be great!  Stock markets crashing!  Prices soaring!  Maybe even a dash of fascism and isolationism!  Hell, if we get really lucky, WWIII rolls around again.

 

[Weaver]

You say that now, but you'll change your mind when you're 75 and still working to pay the rent.

meh, that has long been a harsh reality in my own country. actually a 75 old person who managed to find a job is considered to be pretty lucky. people can survive in any circumstances even when roaches start dying from hunger.

 

[italiano]

**** yes.  It will be great!  Stock markets crashing!  Prices soaring!  Maybe even a dash of fascism and isolationism!  Hell, if we get really lucky, WWIII rolls around again.

Well we'd need ww3 to thin the ranks of humanity to leave less competition over remaining resources (food, water, ammo etc). Or if cities suddenly become radioative, we'll be pushed into the wilderness and most of us will perish naturally until some sort of equilibrium with supply is established. Then we'll start trading food, tools and other goods, and history will be destined to repeat itself. That's all pretty far-fetched though, only the US,  western Europe and Japan are going to fall apart.

 

[your nightmare]

The Iceland state going broke is quite sad , the "crown" is at is lowest since the beginning I think 

 

[Cymro]

Speaking of Iceland, our local council had £3.5m in a bank there. They're fairly much buggered if they don't get the money out soon.

Emotion: /

 

[Cleaning agent]

I'm not talking about the recent bailouts. The fact is that many governments and people are racking up unreasonable amounts of debt, and they'll find it hard to stay above water.

Oh, yeah, pretty clear there. We're going to get ****ed sideways and there will be no low interest credit available for governments, but hopefully that's in a long time, when I'm about to die.

Who predicted? There are many different opinions out there, and that's all they are. Many of the so-called experts have no idea what they're talking about, and those that do can only guess anyway. Someone will be right, but someone is always right, often just by chance.

Hehe, well obviouly it's going to be a wild, educated guess. The guy in question was chairman of some commitee of European economists, and seemed intelligent and erudite enough for me not to dismiss his opinion immediately.

But guessing the day after the 11.48% rise in the CAC 40, he's evidently going to be optimistic, and also is going to have little judge from. Perhaps later estimates will be more precise, but the guy never claimed he was certain, he only predicted.

 

[Audun]

Part of me thinks economic stability is a good thing. The other part wants to see the suited piggies fry.

I agree with this one, but I think it's better to see the cappigs fry.

 

[italiano]

Part of me thinks economic stability is a good thing. The other part wants to see the suited piggies fry.

Missed this post. I feel the same way, but probably for different reasons. I don't mind life the way it is now, but the system is ****ed up enough that I wouldn't mind watching it all fall apart.

and through this we can more or less recover fully after the crash much, much, much faster than any other western nation.

Too bad your neighbours are European.

but hopefully that's in a long time, when I'm about to die

I intend to be rich, so either way it doesn't bother me.

 

[Cleaning agent]

I intend to be rich, so either way it doesn't bother me.

Heh, care to share your plans with me?

 

[italiano]

Put it all own black, over and over again until you're rich.