Global Financial Crisis (2 Viewers)

[shinji]

We're in a global recession.. if you knew more about economics, you would know that in a recession, the government should try to encourage consumers to spend more. This, in turn, would allow more money into the system and stave off a larger effect of the recession.

Government lowers interest rates (as opposed to raising them in order to counter inflation) to encourage spending in the economy.

And the financial crisis is nowhere near over. It just begun, it'll take a few years before they fully rectify the global economy.. That said, it could go on for even longer.

 

[Graney]

Lyndon Larouche never would have let this happen.

 

[tau281290]

Its really getting scary!

You are scared because you do not understand the risks. If you do, there is nothing to be feared of =),.

 

[MasterPUA]

Lyndon Larouche never would have let this happen.

La Rouche is a Douche.


Of course if we opposed free trade and adopted protectionism, none of this would have happened.

It's a little hard to have a financial 'crisis' when no one actually has any money to begin with.

 

[zstar]

Marx, Engels, Trotsky and Lenin would rolling over in their graves.
"The Death Throes of Capitalism" indeed.

This has nothing to do with Capitalism.

If the market was allowed to work then this would subside in a year or two.

What we're seeing now is the central banks trying to stop this cleansing cycle from working buy artificially lowering interest rates and propping up corporations that should have collapsed. This printing of money by the Federal Reserve is causing inflation and debasing the greenback.

They're making it worse and not allowing nature to take its course.

 

[chicky_pie]

SPEND SPEND SPEND!

fuck the Aussie dollar keeps going up and down, now Australia's the cheapest place in the world to buy ipods, fuck you cunts coming our country buying cheaper stuff, oh wait that's a good thing.

 

[moll.]

This has nothing to do with Capitalism.

If the market was allowed to work then this would subside in a year or two.

What we're seeing now is the central banks trying to stop this cleansing cycle from working buy artificially lowering interest rates and propping up corporations that should have collapsed. This printing of money by the Federal Reserve is causing inflation and debasing the greenback.

They're making it worse and not allowing nature to take its course.

HAHAHAHAHA
We're only in this mess in the first place because of the market and it's forces. The American government refused to reregulate the finance industry and continued in it's deregulation policies, allowing it to take on excessive risk for short-term rewards. Greenspan himself, the man who was the high priest of capitalism for his 19 years in power, has admitted "I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms." Source: http://www.theaustralian.news.com.au/business/story/0,28124,24548000-643,00.html

 

[Trefoil]

What? We're in this mess because the US government printed money like it was going out of style

http://online.barrons.com/article/SB122548337109988873.html?mod=googlenews_barrons

 

[ziggy.zoozah]

It's the sub-prime mortgage market that caused the problem. Therefore, stop borrowing from banks unless you have the money.

 

[Trefoil]

It's the sub-prime mortgage market that caused the problem. Therefore, stop borrowing from banks unless you have the money.

The sub-prime mortgage crisis was more the catalyst than the cause.

I won't argue that people should learn some fiscal wisdom, but the sub-prime crisis is used far too much these days as a scape-goat.

 

[blue_chameleon]

It's the sub-prime mortgage market that caused the problem. Therefore, stop borrowing from banks unless you have the money.

In this consumer world, most people will borrow whatever they can if the banks are willing to lend. Very few have the ability to borrow under what the bank is offering, especially when they use such small margins between income and loan repayments.

Loan serviceability thresholds are an absolute joke. As long as the residual from your income (after loan repayments) is inline with the poverty line, then you're ok. This is the case for both Westpac and St George. Not sure about the others.

 

[bshoc]

What? We're in this mess because the US government printed money like it was going out of style

A crisis of this nature cannot have a relation with money supply, especially when the money itself has no underlying value, this has pretty much been know since A.Smith and 1776, or definitely since the end of the 19th century and Marshall..

 

[zstar]

HAHAHAHAHA
We're only in this mess in the first place because of the market and it's forces. The American government refused to reregulate the finance industry and continued in it's deregulation policies, allowing it to take on excessive risk for short-term rewards. Greenspan himself, the man who was the high priest of capitalism for his 19 years in power, has admitted "I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms." Source: http://www.theaustralian.news.com.au/business/story/0,28124,24548000-643,00.html

This had nothing to do with deregulation.


Greenspan cut interest rates to nearly zero when he should've allowed the market to decide, The Fed created these housng bubbles and now they're trying to leverage the economy, They're now trying to "solve" the problem by borrowing and inflation when what they should do is allow the market to work.


The more they try to stop this recession the more they guarantee that this will be a depression and with a little luck Hyperinflation.

 

[Trefoil]

This had nothing to do with deregulation.


Greenspan cut interest rates to nearly zero when he should've allowed the market to decide, The Fed created these housng bubbles and now they're trying to leverage the economy, They're now trying to "solve" the problem by borrowing and inflation when what they should do is allow the market to work.


The more they try to stop this recession the more they guarantee that this will be a depression and with a little luck Hyperinflation.

We have always been at war with Eurasia.

 

[Rafy]

UK interest rate cut 1.5%

http://news.bbc.co.uk/2/hi/business/7713006.stm

 

[stazi]

UK interest rate cut 1.5%

http://news.bbc.co.uk/2/hi/business/7713006.stm

hahah yeah that's fucking huge. am surprised the stock market didnt rise up quickly after that. at least our dollar should gain on the pound

 

[stazi]

dow's opening up pretty soft. will prob end a bit under 9k

 

[Rafy]

Eurozone in Recession.

http://news.bbc.co.uk/2/hi/business/7729018.stm

 

[blue_chameleon]

Eurozone in Recession.

http://news.bbc.co.uk/2/hi/business/7729018.stm

Seems like it's dropping inline with forecasts.

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[Iron]

sexy european vacation anyone?