gosub
~#
whole FTSE 100 is down 1.46% for a variety of reasons.HSBC's share price today: Down 1.5%. Some people are a bit nervous it would seem?
Global financial system implosion begins
- Thread starter Falcon
- Start date
hammerntongues
Well-Known Member
But some people are so desperate to promote bad news that it will not be in their psyche to admit that perhaps , just perhaps , that the UK is starting to come out of recession . Never have there been so many doomsayers on one thread .
Barking_Mad
Non sibi sed omnibus
A recovery built on sand.
gosub
~#
I'm far from convinced situtation is sorted, but don't really think trying to cause a bank run makes sense
hammerntongues
Well-Known Member
add water and some mud to sand and you have a good base on which to build ...............its the constant doom and gloom that gets me , we have lowering inflation and rising employment , it is WAY WAY to early to predict we are in full recovery but what exactly do the doom merchants want to see ? I think they do not want recovery at all , they would far prefer to wallow in misery and gloat over every snippet of bad news and ignore the good.
As gosub said "Global financial system implosion begins" may not be the best place to look for happy.
The figures don't add up. Food, energy and rents have gone up what 20 or 30% in the last five years? While wages have been stagnant or gone down accounting for inflation.
Many of the unemployed have been encouraged to become self-employed while they still have no work. Or they have been sanctioned unfairly. Successive governments have been massaging the figures.
Poverty wages abound. More than half of those claiming housing benefit are in work. Hundreds of thousands are dependent on food banks.
Tens of billions of pounds have been spent on quantitative easing bolstering the stock market and the property bubble. Guarding the prosperity of the middle and upper classes. UK GDP is still below its 2008 peak over four years on.
There's plenty to feel negative about.
Nylock
I hate 'these days'...
I'd guess that what the regular contributors to this thread want to see is a genuine recovery based in concrete reality and not bolstered by the same old, same old bullshit, misdirection and smoke and mirrors...
I don't see much gloating on here about misery just a lot of realism about the situation...
littlebabyjesus
one of Maxwell's demons
Very broadly, the situation of the poorest has improved in Asia and Latin America, while it has got worse in sub-Saharan Africa.
You're right, though, that the rich are getting richer pretty much everywhere. That's capitalism - it directs wealth upwards. And it's part of the reason why even though the UK has returned to some growth, the majority of us have not seen it: at the moment, all proceeds of growth are going to the rich.
Proper wtf from News Corp.
WSJ Allows Former News Corp. Exec to Compare ‘War’ on Rich to Nazi Anti-Semitism
The Triple Crunch for example.
gosub
~#
Great,so on a thread called global-financial system implosion begins in the World Politics section , we aren't concentrating on bigging up the UK enough
gosub
~#
don't really want to help derail, but it did make me look up one thing I'd not thought about before, % jews in germany in 1933 was 0.75%.
1 % is not an insignificant segment of the worlds population, though the wealth distribution is ridiculously distorted
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Yuwipi Woman
Whack-A-Mole Queen
Mental. I amazes me how someone who has so much in both money and power, can still do the whole "I'm so oppressed" act. He needs a visit with reality so he can see the people who are dying because they have so little of either.
hammerntongues
Well-Known Member
The thread was started in 2008 , we have had 5 years of misery and quite possibly we will have some more BUT the outlook now , imo of course , is far better than it has been for a long time . Its not about bigging up the UK but perhaps recognising that we may be on a better tangent , I hope this is the case .
As a matter of interest when do people believe that the UK was last in a healthy financial state ?
Early 1970's. Positive balance of payments, full employment, relatively low income inequality and large oil fields discovered in the North Sea.
To be exact, the outlook is for the current-account deficit to continue increasing, the balance of payments to continue deteriorating, household-debt (the processes currently sustaining an illusion of economic growth) to re-saturate, and Standard & Poor to derate the AAA rating citing "risks to the sustainability of growth".
Which data are you basing your opinion on? Not Mr Osborne's rather selective account, by any chance?
But to the global thread: I think the one to watch is China. Debt since 2008 has risen from $9 trillion to $24 trillion (by comparison, US debt grew $2.2 trillion in the same period, and current Chinese debt is higher than the US and Japan's combined). The interest payments are now colossal and, as I understand it, 31st January is a rollover date on one of the major bond classes, which will cause a further increase. (The UK has a similar bond-driven debt discontinuity towards the end of this decade).
HSBC (the "Hong Kong and Shanghai Banking Corporation"), which is already technically insolvent, is heavily exposed to any debt default that might arise, hence the falling share price and analyst warnings. As a "too big to fail" UK bank, the bail out will seriously strain the UK economy.
I don't know if anyone has noticed, but many digital radio channels have been broadcasting Financial Services Compensation Scheme adverts more or less continuously for over a week now. Now why on earth would they have started doing that?
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ferrelhadley
There is no love between us anymore.
We are still running a significant deficit and pumping billions of liquidity into the system. As is the US and many other nations. These should be hugely inflationary policies. But inflation has been weak. Those policies have effectively helped stave of a deflationary cycle. Global energy prices have been at 100 year highs yet expansion of supply has been muted and many commentators expect any major drop in price to be acompanied by big drops in production when hedged prices run out for marginal suppliers. Serious risks of a debt bubble are a huge worry in China and the UKs economy has been helped by near zero interest rates and government underwriting of sub prime mortgage holders to stimulate demand in the housing market producing what is likely to be a government backed housing bubble.
Its all gravy at the moment. Just peachy.
1971: went up to 11p or 12p. Robbery, t'were.
gosub
~#
http://uk.reuters.com/article/2014/01/28/uk-jpmorgan-man-death-idUKBREA0R0HC20140128
get a feeling this is more than worrying about how to pay for xmas
get a feeling this is more than worrying about how to pay for xmas
toblerone3
Grrrrr
I don't get that feeling at all. Its a personal tragedy, not a sign of systemic meltdown (I think).
gosub
~#
I'm not denying the personal tragedy, died (non suspiciously) before nine and the body still there under a sheet and no media reports til around two. Time will tell
Barking_Mad
Non sibi sed omnibus
Harsh, but fair.
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