Imminent and severe market correction

[ithatheekret]

Sounds good , but I'd lock em all up too , forge and utter , felony fraud , conspiracy to felony fraud ......... and anything else I could get the Attorney Generals dept to boil them in oil with .

 

[STRAT]

If I was FED Chairman, I'd be pushing interest rates up to 20%, clean the debt puss out of the system, put the Fed back in the Hands of the People and let the market decide if they want to go back to some sort of Gold Standard where there is only a limited amount of money.

No more manipulation of the monetary system by a small group of people. Peoples savings will increase in value instead of decreasing in value because of inflation. I'd change the tax system so that people get rewarded for saving instead of getting rewarded for making a loss and borrowing money. I'd get rid of Income Tax as well, everyone should be entitled to keep the fruits of their labour...

Basically I'd stop everyone from being enslaved to the minority control freaks...

You have my Vote.

 

[Kauri]

A Brown statement ..... sorry a Crash statement .


" All I believe and all I try to do comes from the values I grew up with: duty, honesty, hard work, family and respect for others. I am a conviction politician ... My conviction is that everyone deserves a fair chance in life ... that each of us has a responsibility to each other ... that when the strong help the weak it makes us all stronger. Call it the driving power of social conscience, call it the better angels of our nature, call it our moral sense, call it a belief in civic duty. I joined this party as a teenager because I believed in these values. They guide my work, they are my moral compass. This is who I am.
And because these are the values of our party, too, the party I lead must have more than a set of policies - we must have a soul. "


Heretics ! eeeek ...........

Sounds a bit like Bill C just before it became public that he had a bulk discount deal with the local drycleaner..
Cheers
.............Kauri

 

[barney]

If I was FED Chairman, I'd be pushing interest rates up to 20%, clean the debt puss out of the system, put the Fed back in the Hands of the People and let the market decide if they want to go back to some sort of Gold Standard where there is only a limited amount of money.

No more manipulation of the monetary system by a small group of people. Peoples savings will increase in value instead of decreasing in value because of inflation. I'd change the tax system so that people get rewarded for saving instead of getting rewarded for making a loss and borrowing money. I'd get rid of Income Tax as well, everyone should be entitled to keep the fruits of their labour...

Basically I'd stop everyone from being enslaved to the minority control freaks...

Amen !!

 

[Uncle Festivus]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/28/bcnspain128.xml

Spain in trouble by the look of this - have to wonder what value if any these MBS' have... could cause problems for European union and euro

This is big indeed. Forget Northern Rock, this is a whole country at risk! And they have sold all their gold already - the cupboard is bare!

https://www.aussiestockforums.com/forums/showpost.php?p=150699&postcount=64


From April 07

The current account deficit has reached 9.5pc of GDP, a sign of extreme over-heating. Spain is now the second biggest net contributor to global demand after the US, far outstripping China, astonishing for a country of only 40 million still living in the shadows of the Franco regime a generation ago.

 

[ithatheekret]

Are you in Davos Unc . ?

That's pastry heaven mate .

 

[wayneL]

Yes apologies Wayne , I meant Crash . The man that sold gold for the price of a swank night out in Soho .

How about Cable last night

Not scared of rate cuts , would be nice if it dripped down to UK homeloans , that's a relief they need on top of coping with the ridiculous tax regime they are under , robbery .

Aussies still pay more. The tax regime is ridiculous, but you have to look at the total tax take. Oz's is just rather less transparent than UK.

Re: Our Dear Leader. Will be annihilated we we get a chance to vote. We are looking forward to a brand new branch of the Bildibergers in the not too distant (but still too long) future.

 

[numbercruncher]

The financial crisis is likely to force 20,000 City workers out of their jobs and Britain risks slipping into a 'full-blown' recession, experts have warned.

Credit ratings agency Experian has slashed its forecasts for job growth in London's financial districts. Having expected job numbers to remain static, it is now predicting a 5% fall.

http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=429764&in_page_id=3

Maybe Dubbya should post everyone in the World a cheque for $800 ? Globilisation after all .....

 

[Kauri]

Re: Our Dear Leader. Will be annihilated we we get a chance to vote. We are looking forward to a brand new branch of the Bildibergers in the not too distant (but still too long) future.

The next UK general election will result in a hung parliament, according to
the latest ComRes poll for The Independent. Slip sliding away. :karaoke:

 

[ithatheekret]

Can't disagree with you Wayne , done public service , ground my teeth down over tax , wife still works in our State Parliament , true democratic house here , missus is union delegate and I'm a fully paid up Lib, just to stir her I call Peter Reith my hero , we always debate taxes , her colleagues must be sick of me by now , petrol excise is plain theft , we're paying gst on it .

We do know that , we [ all of us ] , mean diddly to them .

But the tax regime here is bogus tax upon tax , then we pay gst on the total .
The inbuilts in buying goods and timber , can get aid to manufacture on steel , not on timber . Cars , they're a joke , then there's luxury tax on a bloomin' Statesman , they made it up .

Through the whole election debate not one candidate mentioned petrol excise , must be saving that for a blue moon .

But Australians compared to UK residents aren't crammed together inner city , they haven't had to deal with decisions of swing or switching currencies and they haven't suffered the high asset inflation most of Englands gone through . We've seen a portion of it , but the UKs dynamics have a cost premium 6/10 Aussies could never afford .

I don't mean to sound biased by this , but the Pound rose heavily , in fact it was one of my calls going back yonks , I had a 60% weighting on it pre 1.70's . I thought it would see a swarm of Poms hunt the sun out down here , don't think that quite happened as planned . I looked upon it as a true reserve currency , and my father would tell me of how we use to have our money put away in Consols for generations . That was then though the good old days I suppose . But now London is another world a big one , if you can afford it [ London ] why would you want to leave ? I know bias again ..........
But it's cheaper than Rome and that place is crumbling away , and their banks service stinks .

I remember the last time we were in POG heaven clearly , the AUD fetched 1.20 USD , not many realise it , but it's the strong AUD that's keeping the fuel prices within a comtemptable , but begrudgingly , acceptable range here .

The Septics complain about $3.50 a gallon , we pay $1.50 a litre , even with arbitrage we're burning liquid gold to go shopping . They should look at the arbitrage price and times it by 3.783 .

How much are you slogged in the UK now ?

 

[Stormin_Norman]

Maybe Dubbya should post everyone in the World a cheque for $800 ? Globilisation after all .....

150billion to fight the recession.

how many trillion were spent on the war to start it?

 

[wayneL]

The next UK general election will result in a hung parliament, according to
the latest ComRes poll for The Independent. Slip sliding away. :karaoke:

Gerrymander!!!!! Plenty of time for the economy to fall in a heap before then though.

 

[wayneL]

.

How much are you slogged in the UK now ?

~£1.05/lt

But I'm spending less on juice than Oz. Most places I use are walking distance and the car I bought gets 50mpg

I pity the status anxious consumer commuters who have hocked themselves up on 4x4s and driving 20-30 miles to work and back. That must be hurting.

 

[Kauri]

Wonder when the German Landesbanks start declaring that they are holding E80bn in bad debt...
Guten Morgen
..........Kauri

 

[wayneL]

Wonder when the German Landesbanks start declaring that they are holding E80bn in bad debt...
Guten Morgen
..........Kauri

Mein Gott! When will it all end??

Not anytime soon I don't think.

 

[Kauri]

Mein Gott! When will it all end??

Not anytime soon I don't think.

GW is on top of it...
US House of Representatives passed the $146 bln package but it still has to go through the Senate where changes are expected. The house plan raises GSE and FHA loan limits..

 

[Kauri]

The Australian newspaper warns that an economic shock has hit China with China accounting for 13.6% of Australian exports. And this after the reports that Japan may already be in a recession and accounts for 17% of Australian exports.

Also reports that MFS has frozen redemptions on a $770 mln investment fund (Melbourne Age )

RUMOURS (unconfirmed!!) that broking house Tricom has seen its solvency come into question after being unable to cover the cost of trades on Tuesday. http://business.theage.com.au/tricom-debts-cover-in-doubt/20080129-1our.html

and another warm day in Perth...

Kauri

 

[Trembling Hand]

RUMOURS (unconfirmed!!) that broking house Tricom has seen its solvency come into question after being unable to cover the cost of trades on Tuesday. http://business.theage.com.au/tricom-debts-cover-in-doubt/20080129-1our.html

Kauri

What the Hell is going on there???

They say its an admin problem not being able to access a loan. Would hope its a glitch only. That could cause a run on a brokerage house with nasty flow on effects if its in trouble.

 

[numbercruncher]

Some good reading for those after a daily fix of doom and gloom or harsh reality which ever you prefer

The story of the upcoming world crash is hidden in plain sight. Even mayor Bloomberg has jumped in the gloom and doom bandwagon: a global economic downturn was looming, triggered by the "lunacy" of public debt, he declared last month. Meanwhile denial continues. Although nearly 70% of the Americans do fear a recession, the possibility of a major crisis is not considered. A crisis? Not in my backyard, most of them think. It all boils down to faith. To be fair, the 'empire mentality' was born with history. Eventually people wake up to the harsh reality that the empire lied to them. The only successful government programs are wars and economic crises. When two or three decades of prosperity end with a crash and geopolitical crisis, what does this mean - frankly? Once again, the numbers tell a very different story than that we are being told. Yes dear Readers, you're not hallucinating. There is currently at least a $1,000 trillion dollar black hole in the world economy. To get the full picture, please keep on reading.

http://www.opednews.com/articles/1/opedne_sharon_k_071117_hey_buddy_2c_can_you_s.htm

PETER CAVE: An expert on personal debt is warning that Australian households are now in a worse financial position than during the Great Depression.

Dr Steve Keen from the University of Western Sydney is the author of a monthly chronicle called Debtwatch.

He says the levels of personal debt, as a proportion of the economy are now twice what they were during the 1930s.

http://www.abc.net.au/worldtoday/content/2007/s2055693.htm

STEVE KEEN: Excessive borrowing for house, speculation on house prices. We've encourage people - certainly in the last 15 years in particular - to borrow money to go and buy an asset which then they expect to sell to somebody else for a higher price. But it's a merry-go-round. The only way you can keep on doing it is somebody else borrows yet more money than you've done and they've got to borrow money faster than they're earning in income. And ultimately we're getting towards to crunch point where that game no longer works.

 

[MR.]

More bad news, keep it coming!
Perhaps its time to hock the boat and the house.... before..... ???

Just joking!

It is time to hock the boat and house! And mind my own business!


In mid 2003 I went to see a financial adviser at the Commonweath Bank's, Colonial. To my surprise the adviser talked me out of investing in shares. Shares had been falling for a couple of years and the adviser was confronted everyday by investors whom had invested their life's savings only to have them plummet. It was all too much. I wonder what happened to this adviser. Now, how easily forgotten.

I feel sorry for all the retired Superannuation investees, although some have had it good for a few years now!

Look after your own money!