Global Crisis?

[Carlito]

As I said a Global one



Indeed that's why I asked.......



Yes well surely that makes fairly global then?

Steeb

Well, if 1 person here was effected, then i guess everyone is.
So, to answer the question 'whether anyone had 1st hand experience of a Global Crisis': Everyone

[steeb]

So, to answer the question 'whether anyone had 1st hand experience of a Global Crisis': Everyone

Looks like no-one

Just media hype then..........

[HtV]

When a crowd is running to the bank to get their money, you'll join them, praying that you'll be in time to get it. There is no bank in the world that has the funds to pay all it's customers their savings back (at the same time). The banks have only about 10 % (or less) of the savings available.
So you understand that a media hype can do a lot of damage.

Hans

[steeb]

So you understand that a media hype can do a lot of damage.

Indeed HtV, concur absolutely

[JimF]

A run on the banks is the old way of going broke. The new, improved way is to bail out all the people who took out the sub-prime mortgages and can't repay them, and also to bail out all the financial houses who went broke because of derivatives trading and other highly speculative investments.

Worrying about a run is like the generals fighting the last war. We will get Great Depression II in more creative ways.

[peely]

http://www.thedailymash.co.uk/news/busin...810081308/

[Deusxmachina]

Well, the United States' esteemed Democratic Congress first vetoed a 700 billion dollar bailout scam, but then they voted for it a few days later after another 150+ billion of pork spending was added to it. So it was actually a worse bill the second time. Word is that 700 billion is already in China and other countries by now.

As I believe Ron Paul has pointed out, it's against The Constitution for the Senate to add provisions like that to a bill. But, hey, it's been a long time since anyone in government cared about The Constitution.

The pushers of the bill put fear into everyone that the markets would tank and everything else if it wasn't passed. A week or two went by and nothing tanked. Then what happened the exact moment it passed? The stock market tanked and went on to have the worst week in the history of the United States. Good job.

Section 8 in the bill consists of one paragraph which basically says Henry Paulson and his scammer friends can do anything they want with the money and no one can question or review it ever. It's hard to imagine anyone having the cajones to put that in there, much less it passing.

The dollar has been way up lately many argue due to the euro sucking so bad lately. It's a race to the bottom. Looks like gold is coming down, may want to stock up on that. And some guns, water, and food, in that order.

[Fatman_do]

Well, the United States' esteemed Democratic Congress first vetoed a 700 billion dollar bailout scam, but then they voted for it a few days later after another 150+ billion of pork spending was added to it. So it was actually a worse bill the second time. Word is that 700 billion is already in China and other countries by now.

As I believe Ron Paul has pointed out, it's against The Constitution for the Senate to add provisions like that to a bill. But, hey, it's been a long time since anyone in government cared about The Constitution.

The pushers of the bill put fear into everyone that the markets would tank and everything else if it wasn't passed. A week or two went by and nothing tanked. Then what happened the exact moment it passed? The stock market tanked and went on to have the worst week in the history of the United States. Good job.

Section 8 in the bill consists of one paragraph which basically says Henry Paulson and his scammer friends can do anything they want with the money and no one can question or review it ever. It's hard to imagine anyone having the cajones to put that in there, much less it passing.

The dollar has been way up lately many argue due to the euro sucking so bad lately. It's a race to the bottom. Looks like gold is coming down, may want to stock up on that. And some guns, water, and food, in that order.

Don't leave out the Republican party in pulling a fork and knife up to the pork party. Remember the "Stimulus Package" last year? It was paid for by selling bonds (mostly to China) so we "Smart Americans" would turn around and buy goods (mostly from China). Funny how that didn't rebound the economy.

I hate politics with a passion. Both parties are exactly the same.

Exactly the same.

[kayleigh]

Oooooohhhhh... politics, economics & finance. *Clap like a wound up toy monkey with symbols*

@Peely - I love the article. I'll take that last response from Chancellor Darling as a direct quote from him, Mr. King, Mr. Paulson and Mr. Bernanke. Mr. Bush's response would have been, "Uh, huh?"

As soon as Western global currencies de-linked from a commodity (silver, gold, whatever) & became fiat, the whole world was headed down the financial tubes. As Deusxmachina said, it's a race to the bottom & Iceland's in the lead so far.

[Deusxmachina]

Don't leave out the Republican party in pulling a fork and knife up to the pork party. Remember the "Stimulus Package" last year? It was paid for by selling bonds (mostly to China) so we "Smart Americans" would turn around and buy goods (mostly from China). Funny how that didn't rebound the economy.

I hate politics with a passion. Both parties are exactly the same.

Exactly the same.

I don't know what happened to the Republican party since about 9/11. Most of them turned into neo-conservatives and are often for big government just like most Democrats are.

I generally go for the representative who is for smaller government overall, even if I disagree with him on other issues. Small government has a smaller budget to waste and a smaller nose to stick where it's not wanted.

The thing about the stimulus package is at least "normal" Americans are the ones who got the money (even if the entire thing was a dumb idea). This 700 billion won't help regular folks, and Republicans tried to stop the Democratic Fanny/Freddy housing scam years ago. I was shocked when Saturday Night Live the other week actually said that truth on the air in the first sketch.

But, anyway, yeah, nowadays it's pretty hard to tell the two parties apart. I encourage people who don't particularly care for a candidate of either party to vote Libertarian or some other third party. At the least, that third party might get more funding and publicity in the future, and then maybe the "two-party system" might finally be broken.