The credit crunch, a global crisis or not?

First topic message reminder :

The credit crunch, a global crisis or not ?

This was the title of the longest running, active subject on the now discontinued MSN message boards, and when those boards were discontinued the thread was transferred to the newly created Cutting Edge board in March 2011.

OK so who will begin then ? ( Mark III )

atv wrote:I wonder to what extent the change of deflator has played a role in changing the real GDP data. In fact the ONS explain this might have had an impact and the change in real GDP in the early 2000s of about 0.6% is consistent with most economist appraisal of the difference between the RPI and CPI measures. The peak-to-trough fall in GDP during recession is now put at 7.1% from an estimate of 6.4% previously. The new figures suggest the economy was already deep in recession before the fall of Lehman Brothers in September 2008: GDP fell by 1.3% in the second quarter of 2008 and by 2% in the third quarter, much larger declines than had previously been estimated.
It's very interesting that now, years later, reported economic numbers from the past are being altered and are now more accurate. Maybe it is a good thing that at the time the people were unaware of how hard the economy was falling.
Looks to me as though things were worse than we first thought.

Things could only be better than we thought if people at the time had understood that spending next years' wages before you got them could end in tears.

Blasts from the Past

( justice4andy.com)

John Major getting angry : as frightening a prospect as little Freddie Figgins , the fourth-form weed with the runny-nose, tackling you on Rugby afternoons at school...

Not unlike being savaged by a dead sheep
(D Healey)

Poor old John Major. At the death even EGGwina was disappointed.
She thought she had snared a a big ram, instead she discovered she had a goosed a wooden one.

(justice4andy.com)

" I am talking to you and if you're not careful I shall get very cross indeed and say you are a rotter. Alternatively I may just forget the whole thing and go and shag Edwina Currie instead....ooops!"

Cameron Speaks Out on Gaddafi

(spygun.com)

" It should be a matter of celebration when a detested, unwanted and cruel autocratic leader is summarily dealt with by his own people. Er...hang on a minute..."

It can never be completely unalloyed pleasure for a Leader to contemplate the killing of another Country's Leader.

There, but for the grace of God .................

( Eric-Pickles-007.jpg)

" Oh goody - a three-stone omelette..."

Lesson : Don't put all your eggs in one bastard...

Ah, Brussels! Pommes-frites with everything.

Don't forget the mayonaise! with everything as well

A few tiny Quails eggs thrown on top with pickles and six crates of brown ale. Commonly known as an egg and pickle bastard.

"I'll ave the lot".

The Manager of a pub in Doncaster was instructed by the Brewery to increase trade, so he installed a couple of girls upstairs and put a large notice outside which read, A PIE, A PINT AND A QUICKIE, for FIVE QUID.
A gentleman came in and quoted the words asking, "Is that all true?" To which the Landlord duly replied in the affirmative.

"Aye lad" said the customer, "but 'ow big are the pies?"


[quote="Phil Hornby"] ( Eric-Pickles-007.jpg)

(bbc.co.uk)

" Pssst, George....don't forget that we've suddenly decided that the financial problems are now global..."

.... or at least the responsibility of Sarkozy.

Shouldn't forget the pub next door that offered "a cheese and tomato sandwich £1, a pint £2 and a J arthur £10". A customer asked the drop dead gorgeous barmaid if she supplied the J arthur, she said "yes" to which he said "well wash your hands I want a sandwich".

No,  this government have another six months use of "...after the state the last government left us in"

Soviet Britain wrote:No, this government have another six months use of "...after the state the last government left us in"

At the end of which you should be able to buy a holiday home in Greece, Spain, Portugal or Italy for roughly the cost of a Return-ticket from London.

On todays Daily Politics show they had Nikki King, the current boss of Isuzu Truck UK, who I believed made some interesting remarks which could explain why youth unemployment is so high......

Nikki King was proud that her company is currently taking on workers but is UNWILLING to invest 2 years in training todays young......

She would be quite happy to have the government pay for work experiance with her company which of course would mean that the tax payers would be paying for some of her workforce.......

She would also like to see a tax cut for companies like her's but is opposed to more state spending to help support public services.......

Hello Astradt . Well lets face it, you dont get to be her shape and size by being generous to others.

We came back from holiday this summer with almost a hundred Euros unspent between us.

Should we change these for Pounds, or Dollars, or keep them as souveniers for our grandchildren?

It is a Global Financial Crisis affecting all of the advanced and developing economies in various ways.

Phew... My brain is buggered after that. Reckon it's time for some more humorous posts from the other members... again.

It's not a Global Financial Crisis if you are a Banker. The taxpayer has underwritten your debts, done little to curb your income, and receives derisory interest for lending you even more money.

In case anyone hadn't noticed, Banks are more powerful than Governments. Shurely shum mistake?

Put like that, we should all be packing our kit and heading in the direction of St Paul's, full of revolutionary intent.

.But just in case...where's the nearest hotel around there...?

The Lord will provide

Tut. That old interpretation emerges from yet another one who 'borrows' from the collection plate on the occasional Sunday...

oftenwrong wrote:It's not a Global Financial Crisis if you are a Banker. The taxpayer has underwritten your debts, done little to curb your income, and receives derisory interest for lending you even more money.

In case anyone hadn't noticed, Banks are more powerful than Governments. Shurely shum mistake?

If the banks hadn't spun that line... too big to fail... so well, the world may have learnt rather quickly that life after the crash goes on with new bankers and entrepreneurs taking the place of the old.

Shurely shum mistake?



I am sure OW NEARLY said Shirley there!

It almost slipped out. As the A said to the B.

Cameron Seeks to Win a Friend...
( themediacoach.co.uk)

" So, Nicolas, I said to Mrs Merkel : ' Euro if you want to, my bureau's not for Euros '..."

" Ha, ha David - you are an even bigger prat than I thought..."

So Blatter said we should just shake hands on it!

It's decision time! Bung the referee or Bunga-bunga.

How can Herr Cameron expect Angela Merkel to listen to any thing he has to say, She must know of his history, especially what he did for Black Wednesday, and now he's lost £400,000,000 of the Taxpayers money, leaving the Cretin Gideon to tell us that it was the best deal for Britain. Shirly (just for you V) we would be better off had the shares been floated on the market.
I guess we wont be hearing too many of the Tory/Lib-Dem scum saying crap like, It because of the mess left by the preveous Government "or will we". At least when Gordon Brown flogged some Gold, we had somthing to show for it, but with this shambles of a Government we have sweet FA. But never mind folkes he will get it back from the poor, sick, unemployed and the homeless. Well Done Herr Cameron, you have crawled lower than I thought it possible to crawl, but you certainly managed it.

Thanks for that Bobby, I did have a wee chuckle!!

Did I not hear a reference to "The Mess We Were Left By The Larst Gubmint" on QT or on Politics Show at 1 pm this week?


They ain't going to let this one liner lie down, like one of the entertainers who used the same punch line! - Mr Howerd - Mocking Francis Charlie Drake - Breakast! Hugh Lawrie - Wur Doomed

I think someone had better inform them that the "lustre" has come of and the statement has now gone dull!

I don't know if I'm on the correct thread with this but!

The Bories are being bitten by their own pet schemes
This from MSN
"Ministers are to order a review of the nursery school free milk scheme claiming abuse of the system means the Government is being billed up to £1 a pint.

Internal Department of Health audits revealed middlemen are charging around double the retail cost under a "scam" that is costing taxpayers an extra £10 million a year.

A loophole in the system means the Government is obliged to pick up the bill, regardless of cost, submitted by firms that are acting as schools' go-between with suppliers.

Government sources insisted every eligible child will continue to receive their free milk despite the planned shake-up of the service next year. One option that will be considered is setting up a system of national suppliers to cut out the middlemen"

Now it seems to me the bastions of capitalism, those who WORSHIP capitalism, are complaining about capitalism at work. OK SO what if the middle men are making money - is that not what it's all about? Market forces? (We know since Thatcher - in Heath's gubmint that tories do not like the idea of free milk!)


http://news.uk.msn.com/uk/ministers-order-free-milk-review-81

3x 1/3rd pint bottles for a £1 does not seem too bad on the face of it!

The credit crunch, a global crisis or not?

A much-loved topic dating back three years, so possibly due for re-evaluation. The USA is actually benefitting from the current European bed-wetting, as speculative investors shift their allegiance westwards.

But no, they're not regarding the GBP as a safer alternative to the Euro. Probably because we're still in the Community of similar name.

Some Tory clown who goes by the name "Reckless" (not even brownboots could have made that up) was spouting some garbage as to how the Conservatives have to keep their word regarding some current policy (sorry folks i was busy and didn't catch which one it was) or the public will not trust them. Is this twat in cloud cuckoo land or what. Sorry I didn't post this earlier, but i've only just stopped laughing.

I could be mistaken, but Tory Policy is beguilingly simple: Get into Power, and stay there.

There's no high-flown nonsense about "Society" or "Traditions", just greed.

So true -


LINK

His last name is actually "Reckless"?

follow the link my lovely. OH yus it is!