How F*cked are we?

[craigie b]

Hiya,
I just read the following on the BBC's webpage....

[Hetzer]

All pretty much started by banks in the US lending mortgage money to people who were unable to make the repayments.

This is the primary failing of the capitalist system...unmitigated greed that assumes growth is a pre-requisite for success. Who drives this mindset? The scum at the top who think their positions won't be secure unless they're feeding ever larger dividends to the shareholders. This is why you see gas-stations selling groceries and supermarkets selling gas (etc etc etc).

Then you have people living on slave-labour wages, where most of their earned income goes into taxes and bills and basic necessities (food and clothing etc). Money for toys, leisure and pleasure, comes as credit (credit cards and loans). And when the credit runs out...recession.
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"

[owdamer]

Sure am glad I paid off all my credit cards. 0% finance for the last 5 years or so. thank you very much.
Only think I pay interest on now is my mortgage, which is currently about half what my humble house is worth.
I'm on a piss poor income so if I cant afford it I dont buy it.
The days of replacing something because a better one is released are long gone for me.

[Kris]

Hyper-inflation, coming to a United States near you soon...
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www.prisonplanet.com

[craigie b]

The the lack of response worries me more than the actual papers headlines because it indicates either

A: Nobody really has a clue or B:Nobody gives a crap because their pocket is OK at the minute.

One thing that disturbed me, seriously, when I was last in the UK was the News. Your energy prices shot up 30%, Fuel is over £1.05 yet the news covered this in roughly fifteen second because seemingly Britney Spears going fucking mental is a real issue that deserves fifteen minutes of the beebs time.

If the mentality of our population is that of seeing star trivia over real issues that effect our lives then it won't be until we're really fucked that people begin to open their eyes.

[Itchy]

Like the Japanese and the San Franciscoites we are in for a REALLY BIG ONE.

Normally in good times governments save some surplus so that when there are bad times we still have something to tide ourselves over,

Problem is there is nothing left most of our gold was sold in '99 at a record low price , we can't borrow more , we can't keep printing more money as it becomes even more worthless and have no gold to back it up,

Effectively perfect storm time, Gordo and NL supporters will no doubt blame it on anybody but themselves ,

Recession always follows booms , and his trickery of No more boom and Bust is a big lie,

Since we have no government money or fiscal/monetary polcies left to soften the blow of a recession , its going to be a REALLY big painful recession.

To add insult to injury taxes are supposed to be cut to ease the burden during recessions, but taxes are going to go up.

Effect?

Government prints more money to pay bills fiat currency, this devalues the currency since we have no gold to back it up. Inflation goes to the moon,

Bottom line?

Wages go down due to inflation ,
taxes increase ,
prices of everything increases (due to imported everything)

Average joe is poorer as per usual.

The elites with money left buy up EVERYTHING when it bottoms out and thus can increase prices at will.
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Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

[Itchy]

[Itchy]

[Hetzer]

It's not the lack of gold that devalues a currency, it's a lack of produce that anyone else wants to use a currency to buy.

You have to think of a country like a shop.

So we go to the American shop and say "I'll give you ten of my pounds for that gizmo". The American guy goes "But you've got fvck-all worth having on the shelves in your shop, so you can shove that £10 note up yo ass."

This country spends more than it earns in the global market, which is why our deficit is so high. At some point that chicken is going to come home to roost.

The entire global economy functions on credit, but that is a finite resource. At some point people have to stop borrowing so they can meet the payments on what they already owe. And when they do that the shops ain't selling their stuff anymore. Vicious circle time. They then have to lay-off staff, who are then unable to meet their payments on what they owe...

Six billion+ people, dwindling resources, increased longevity, the entire shambles is teetering on the edge while the elite prepare to corner everything and leave the masses hanging in the wind.

At least it won't be unexciting.
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"

[Itchy]

[owdamer]

[faddius]

If it goes really bad...well read up on the great depression in america - 1920's ish
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Children in the back of cars cause accidents : Accidents in the back of cars cause children
Riding since OCT '05 - Sym Jet 50cc, Honda Varadero 125cc, Suzuki GS500, Honda VFR750, SV650s current & in posession of Aprilia RS125, Honda NS125R

[D O G]

Meh, everybody likes a good story, and to talk it all up.

I can see no hard evidence that we are heading for a global depression. Slowdown, sure, recession (where growth rate is lower than historical average growth), probably, but essentially nothing too horrendous is out there.

A bit of higher inflation (as long as reasonably matched with wage growth) would do the UK people pretty good on the whole - since we are net borrowers, those debts become cheaper in real terms.

Remember that we also have the propsect of a new US president, who, as long as they are more acceptable than GWB to the markets and people (and lets face it, that's not difficult), then we will get a boost then too.

[owdamer]

[faddius]

As long as theres still somewhere that I can buy a kebab I dont care.

I really think im craving a kebab today.
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Children in the back of cars cause accidents : Accidents in the back of cars cause children
Riding since OCT '05 - Sym Jet 50cc, Honda Varadero 125cc, Suzuki GS500, Honda VFR750, SV650s current & in posession of Aprilia RS125, Honda NS125R

[craigie b]

[Liam_]

Here is a great video explaining it all in english

https://view.break.com/428454
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I got a dig bick. You this read wrong. You read that wrong too.
Yamaha R1 2016

[owdamer]

[Kris]

Interest rate cut - to SAVE the economy! Bwahahaha!

Even Bloomberg News (11/01/08) predicted a rate cut and stated

"If the Fed drops rates, a lower dollar will propel gold higher,'' said Leonard Kaplan, president of Prospector Asset Management in Chicago. ``Everything we buy is going to be more expensive. Any raw material will go through the roof. The smart people see inflation.''

https://www.bloomberg.com/apps/news?pid=20601087&sid=aZsxnQer7S2g&refer=home

Yet the BBC (and no doubt ABC/SKY/NBC/ITV yadayada) report that it's a shock, and also to save the economy.

https://news.bbc.co.uk/1/hi/business/7202645.stm

Yes, it's official. Up is down and left equals right folks.

Just shows how dumb and retarded they think we all are...
____________________
NSR125RR - ZXR750H1 - ZX9R E1 - GSF600S - GSF600SK3 - VFR400-NC30 - SV1000N - ST1100-R - CBR900RR-R - GSF1200SK5 - GSF600SK1 - VFR1200FA - GSXR1000K2 - ZZR1400 D8F
www.prisonplanet.com

[TheShaggyDA]

I'm sure I need to buy pork bellies.
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Current: CB500 Previous: CB100N, CB250RS, XJ900F, GT550, GPZ750R/1000RX, AJS M16, R100RT, Enfield Bullet

[i:6e3bfc7581]But still I fear and still I dare not laugh at the madman...[/i:6e3bfc7581]

[D O G]

"Dollar value plummets"

Maybe I take back what I said before.

Its ok when papers start panicking and being all doom and gloom, but I'd rather the most influential bank in the world wouldn't.

[JonB]

The thing that bugs me most right now is petrol prices.

The Oil companies know they now are onto a winner.

When petrol was in the 90p's the oil companies were treading carefully before it went to the £1.00 a litre mark, but once they have got over the psychological pound barrier have you seen how petrol prices go up on a weekly basis now? I know oil is like $100 a barrel, but I can easily see petrol prices at current trends being nearly £1.20 a litre by the end of 2008.
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Be careful whose advice you buy, but, be patient with those who supply it. Advice is a form of nostalgia, dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it?s worth.

[cestrian]

"I can easily see petrol prices at current trends being nearly £1.20 a litre by the end of 2008" - Jon B

How long before it's a luxury Jon?

[owdamer]

[craigie b]