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| Thread ID: 83802 | 2007-10-14 00:10:00 | Is The New Depression Allready Here? | SurferJoe46 (51) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 601163 | 2007-10-14 00:10:00 | Seems there was a bit of a run on a bank in the UK . ( . moneycentral . msn . com/Investing/JubaksJournal/HowSafeIsYourBank . aspx" target="_blank">articles . moneycentral . msn . com) The British Gvt buoyed the bank's validity . . but the damage is done . How safe is your bank? ( . moneycentral . msn . com/Investing/JubaksJournal/HowSafeIsYourBank . aspx" target="_blank">articles . moneycentral . msn . com) In my current neighborhood, there is about a 40% "walk-away" from homes and loans . There have been homes for sale here . . and still are for sale since I moved in in Aug 1999 . Nothing is moving, selling or any new being built . Looks bad methinks . . . . and if youse guys think you are exempt because you are South of the Equator, think again . Your money and ours and theirs is all melded together into the worldwide banking institutions . I like what this guys said: "A rising tide lifts all boats, but a receding tide separates the well-run companies from the badly managed . " |
SurferJoe46 (51) | ||
| 601164 | 2007-10-14 01:23:00 | I would think my bank is pretty safe. They have very safe assets both here in NZ and in Australia. | beeswax34 (63) | ||
| 601165 | 2007-10-14 01:31:00 | I would think my bank is pretty safe. They have very safe assets both here in NZ and in Australia. We have a local hero: General George Custer who mouthed the following words: "Those are FRIENDLY Indians!" :horrified |
SurferJoe46 (51) | ||
| 601166 | 2007-10-14 01:41:00 | The age of disaster capitalism: www.commondreams.org |
zqwerty (97) | ||
| 601167 | 2007-10-14 02:03:00 | The age of disaster capitalism: www.commondreams.org Right as usual Zqwert,lets get Putin down here,he will sort things out. |
Cicero (40) | ||
| 601168 | 2007-10-14 02:16:00 | Northern Rock is more of a 'building society' rather than a traditional main line bank, ie. it is primarily in the mortgage loan business. That would be the reason it got into financial strife, but I'm happy to be corrected if wrong. www.northernrock.co.uk The time to get really worried is when there is a run on the main banks. |
Terry Porritt (14) | ||
| 601169 | 2007-10-14 02:45:00 | My concern is that in NZ we have nearly $4.5 million people and $4.5 billion on Credit Cards. :illogical Given that the 4.5million people includes children who don't have a card and on top of the $4.5 billion there is hire purchase and mortgages. The arithmetic is scary. I can’t for the life of me see how a depression isn’t a mathematical certainty, especially if other countries have the same ratios. :stare: |
B.M. (505) | ||
| 601170 | 2007-10-14 02:51:00 | So one of people owing another lot of people a lot of money is the cause of a depression? | Cicero (40) | ||
| 601171 | 2007-10-14 02:53:00 | Well . . . we COULD start a poll: "Where will the next depressions start?" . . and post a few countries . Winner gets a free wheelbarrow full of currency from the country that goes mammaries-up first . I'm sure as rain that everybody wants ANOTHER poll . Right? |
SurferJoe46 (51) | ||
| 601172 | 2007-10-14 03:03:00 | I'm always open to another poll. | Metla (12) | ||
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