Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Results 1 to 6 of 6
  1. #1
    Sinner's Swing! graeme's Avatar
    Join Date
    01.27.03
    Age
    10
    Location
    Dusseldorf, Germany.
    Posts
    3,946
    Favorite VH Album

    They're all shit
    Last Online

    11.19.17 @ 09:41 AM
    Likes
    0
    Liked 34 Times in 20 Posts

    Default Now Europe is talking about bailouts for banks

    They're all meeting now and it seems that several billion euros are going to be thrown away to ease "liquidity" problems.

    The point is, if the banks can't hold onto enough liquid assets it means they are not running their operations right. It depresses the hell out of me that all of this is going on and how stupid they think we are. First in the US it was a bailout, then they change the name to rescue package.

    For fucks sake, I've heard enough people on the street having fallen for the spin and calling our recessions a "credit crunch".

    Language is so important and unfortunately most people can't see through the words to the truth of the matter.

    Wankers.
    A man could lose himself in a country like this.

    My blog at http://tollins.blogspot.de/

  2. #2
    Good Enough pal1800's Avatar
    Join Date
    10.30.07
    Age
    46
    Location
    Mandeville, LA
    Posts
    1,731
    Favorite VH Album

    Too hard to choose
    Favorite VH Song

    Too hard to choose
    Last Online

    06.02.16 @ 09:13 AM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Quote Originally Posted by graeme View Post
    They're all meeting now and it seems that several billion euros are going to be thrown away to ease "liquidity" problems.

    The point is, if the banks can't hold onto enough liquid assets it means they are not running their operations right. It depresses the hell out of me that all of this is going on and how stupid they think we are. First in the US it was a bailout, then they change the name to rescue package.

    For fucks sake, I've heard enough people on the street having fallen for the spin and calling our recessions a "credit crunch".

    Language is so important and unfortunately most people can't see through the words to the truth of the matter.

    Wankers.
    Corporate and individual greed and the desire of many for the equality of outcome for all, despite reality, and being driven by a narcissistic kind of idealism have gotten the United States where it is.

    How about Europe??

  3. #3
    Sinner's Swing! graeme's Avatar
    Join Date
    01.27.03
    Age
    10
    Location
    Dusseldorf, Germany.
    Posts
    3,946
    Favorite VH Album

    They're all shit
    Last Online

    11.19.17 @ 09:41 AM
    Likes
    0
    Liked 34 Times in 20 Posts

    Default

    Quote Originally Posted by pal1800 View Post
    Corporate and individual greed and the desire of many for the equality of outcome for all, despite reality, and being driven by a narcissistic kind of idealism have gotten the United States where it is.

    How about Europe??
    In a phrase, over connectedness to the US system.

    The UK is a slightly seperate case in that the Brits are a nation of house buyers so the market booms and busts with frightening regularity and lenders were doing the whole subprime type thing. Plus the Brits do tend to live in debt a lot more with credit cards.

    As for most of Northern Europe, I think it is more to do with the banks being too closely allied to the whims of the US banks. Most Europeans tend to have less debt and home ownership is not considered the be all end all that it is elsewhere.

    So far, Britain has seen two lenders in trouble : one bought out, one nationalised. Europe has seen a few lenders go down (one large benelux bank andalso I just heard a Geman mortgage bank) but they have packages in place. However, in various interviews, German leaders, whilst roundly criticising the greed of the US banks, have said that this will not affect their institutions anywhere near as badly as what we have seen elsewhere. It was actually said in quite a schoolteacher manner eg. Silly US but at least we are not so stupid.

    Seems that 25 billion euro has been agreed. This is being taken from an EU development fund to be made available for banks to loan to small businesses. Whilst not a systematic near collapse on the scale of the US, this is pretty bad stuff all the same.

    The whole thing is a complete mess. Just glad from a personal point of view I don't have stocks and my work isn'treally affected by movements in the economy. In many ways, I might even do better in the downtimes.

    I think that of the euro zone, the UK is the one headed into the worst of it. Denmark and Ireland are officially in recession (they are being honest that is)ie. 2 quarters of zero growth, but that looks set to rise very quickly. Prices are going up everywhere and jobs are starting to go.

    When the smoke clears on this one, maybe five years time, India and China will be well on their way to being the two new super economies.

    At a fundamental level, the US is now as fucked as can be with the UK not too far behind.

    Interesting times. Better learn Mandarin.

    btw. Not too sure I understand your equality for all comment. If you mean the homes for all idea, I think that has much more to do with unreasonable profit for lenders and the bricks and mortar if things go tits up. I think the only thing these institutions got wrong was misjudging the scale of the problem. Depending on what happens over the next few years, these very same institutions currently having problems will be worth a fortune from this mess.
    Last edited by graeme; 10.05.08 at 01:55 AM.
    A man could lose himself in a country like this.

    My blog at http://tollins.blogspot.de/

  4. #4
    Hang 'Em High
    Join Date
    01.07.07
    Location
    The Texxas Jam - 1978
    Posts
    5,959
    Favorite VH Album

    Depends on the Day of the Week
    Favorite VH Song

    HAIL, D.O.A., TYWH
    Last Online

    12.16.17 @ 12:33 AM
    Likes
    1,119
    Liked 1,329 Times in 799 Posts

    Default

    Yes, it seems that a LOT of Heads of State (s) will want Hank Paulson's phone number now ! ! ! !

    Including "Arnold" and that Gov. of NY, and any other states that write social program checks that they cannot cash....

    ~~8 U.S.C. 1182(f)~~

  5. #5
    Baluchitherium mistere's Avatar
    Join Date
    05.31.02
    Location
    Bangkok
    Posts
    5,364
    Favorite VH Album

    Fair Women Down
    Favorite VH Song

    Chicken Feet for Breakfast
    Last Online

    07.11.09 @ 03:27 AM
    Likes
    0
    Liked 1 Time in 1 Post

    Default

    Yep. I was very disappointed in the decision. There is no end in sight
    and we learn nothing. Win/win.

  6. #6
    Good Enough pal1800's Avatar
    Join Date
    10.30.07
    Age
    46
    Location
    Mandeville, LA
    Posts
    1,731
    Favorite VH Album

    Too hard to choose
    Favorite VH Song

    Too hard to choose
    Last Online

    06.02.16 @ 09:13 AM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Quote Originally Posted by graeme View Post
    In a phrase, over connectedness to the US system.

    The UK is a slightly seperate case in that the Brits are a nation of house buyers so the market booms and busts with frightening regularity and lenders were doing the whole subprime type thing. Plus the Brits do tend to live in debt a lot more with credit cards.

    As for most of Northern Europe, I think it is more to do with the banks being too closely allied to the whims of the US banks. Most Europeans tend to have less debt and home ownership is not considered the be all end all that it is elsewhere.

    So far, Britain has seen two lenders in trouble : one bought out, one nationalised. Europe has seen a few lenders go down (one large benelux bank andalso I just heard a Geman mortgage bank) but they have packages in place. However, in various interviews, German leaders, whilst roundly criticising the greed of the US banks, have said that this will not affect their institutions anywhere near as badly as what we have seen elsewhere. It was actually said in quite a schoolteacher manner eg. Silly US but at least we are not so stupid.

    Seems that 25 billion euro has been agreed. This is being taken from an EU development fund to be made available for banks to loan to small businesses. Whilst not a systematic near collapse on the scale of the US, this is pretty bad stuff all the same.

    The whole thing is a complete mess. Just glad from a personal point of view I don't have stocks and my work isn'treally affected by movements in the economy. In many ways, I might even do better in the downtimes.

    I think that of the euro zone, the UK is the one headed into the worst of it. Denmark and Ireland are officially in recession (they are being honest that is)ie. 2 quarters of zero growth, but that looks set to rise very quickly. Prices are going up everywhere and jobs are starting to go.

    When the smoke clears on this one, maybe five years time, India and China will be well on their way to being the two new super economies.

    At a fundamental level, the US is now as fucked as can be with the UK not too far behind.

    Interesting times. Better learn Mandarin.

    btw. Not too sure I understand your equality for all comment. If you mean the homes for all idea, I think that has much more to do with unreasonable profit for lenders and the bricks and mortar if things go tits up. I think the only thing these institutions got wrong was misjudging the scale of the problem. Depending on what happens over the next few years, these very same institutions currently having problems will be worth a fortune from this mess.
    What was meant by "equality of outcome for all" is that there are people in our country and government that believe that everyone should have a certian level of success, regardless of their situation. Wheather they could afford it or were capable of maintaining it was irrelevant to them. Their ideology was more important than reality. Everyone is not going to own a home and many are incapable of maintaining it anyhow. But, these idiots wanted to put as many individuals in homes as possible despite the reality of the situation. If you want to know the truth about Fannie and Freddie, it's all over youtube. Certian politicians tried to protect their cash cow while others tried to get more regulation. Guess who WON???

 

 

Similar Threads

  1. More U.S. Banks QUIETLY Borrowing Money From FED
    By Axxman300 in forum VH Fans Meeting Place (Non-Music)
    Replies: 1
    Last Post: 02.19.08, 05:21 AM
  2. I Hate F'ing Banks!
    By CaboBrian in forum VH Fans Meeting Place (Non-Music)
    Replies: 3
    Last Post: 07.13.07, 01:57 PM
  3. Tyra Banks: They're real
    By ZeoBandit in forum VH Fans Meeting Place (Non-Music)
    Replies: 28
    Last Post: 09.24.05, 10:17 AM
  4. Agent Cody Banks
    By FH in forum VH Fans Meeting Place (Non-Music)
    Replies: 14
    Last Post: 03.04.03, 02:23 PM
  5. Banks signed by Dallas
    By Van Gully in forum VH Fans Meeting Place (Non-Music)
    Replies: 8
    Last Post: 04.01.01, 04:37 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •