ChezGiven 0 Posted March 24, 2009 Share Posted March 24, 2009 Seriously though, from the financial perspective, its just a market adjustment. The free credit boom led to unwarranted increases in demand for housing / homeownership. This 'false' increase in demand, led to massive price increases, which led to a greater supply of credit since the prediction of rising value of the investment assets led to over-extension of credit again. This price/demand and credit/supply cycle has been going on for a long time. Some Economists have been warning of the dire consequences heading our way since before 2004. Its exacly the same as what happened during the dotcom boom, with the same dynamics, except that time the credit was for start-ups not for housing. The market for credit needs to re-adjust and we are in the adjustment period. There are also other factors at play, in particular the cash reserve and liquidity ratios that banks were using on their assets, which fucked them over when their lines of credit started to go toxic. Hence the impact on the wider economy. I used to be on a buy-to-let forum called Housemouse in 2003, and there was always one guy (like parky) who predicted the credit crunch / doom and gloom. No bugger ever took him seriously and the forums recently closed, Poor bastard, just when he's finally proved right The man (investment manager) who predicted the dotcom collapse had a similar experience. He pulled out all of his clients money and refused to invest a single penny in the start-ups. All the investment managers were coining it in so his clients and eventually his employers took umbrage (obviously). He refused to back down and was eventually fired, couldnt get a job elsewhere and his career fucked up. About 6 months later, all his competitors portfolios were worth about as much as Geremi's next transfer fee Iirc, the cunts who employed him didnt re-hire him. Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 I've got to admit that at present I know almost nothing about macro-economics at present, but I do detect Parky is talking out his arse again. Some of his barbs show his heart is in the right place. I often feel like a traitor working for a bank given some of my anti-capitalist leanings - I've just agreed to work from home for 2 days next week to avoid the protests in the city but part of me would like to join them A new covenant must be made between the people and the Govt. The banking war is against countries (it used to be about assets). I would make a new financial entity that gave money directly to wealth makers and cut out the banks. We must have a new agreement and confidence in shared goals or it will be civil war (you can quote me on that). Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 I was given to understand that the key to ending all this was a return to inter-bank lending? I would be surprised if Joe Soap in the street (who has debts on his flexible friend) isn't concentrating on clearing a bit of that first before he goes out and buys another plasma tv or holiday in Florida. In turn, the manufacturing in China/India of items Joe Soap would have otherwise been buying, dries up. Their economies subsequently falter. The demand on oil decreases. The price of oil decreases. Profits are down. Profit margins aren't maintained. Lay-offs occur to streamline 'the business (business talk for saving money to get the profit margin back). Joe Soap loses his job. Even less plasma tv's ect are made. The economy in China/India....etc etc. A vicious cycle. Yes, yes but how does that affect J69 ffs? He's not called Joe. Are you sure the 'J' doesn't stand for Joe? Aye, Joe 90. A right specky cunt. Link to comment Share on other sites More sharing options...
The Fish 9221 Posted March 24, 2009 Share Posted March 24, 2009 May-Day is going to be a barrel of laughs... I might go down to Cornwall to avoid the nonsensical disorder, faux-indignation pouring from the plum-filled mouths of the sons and daughters of the well to do or the yout's with nothing better to do but idiocy. Anarchy performed by people wearing Nike, or sipping lattes and eating Subways. Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 May-Day is going to be a barrel of laughs... I might go down to Cornwall to avoid the nonsensical disorder, faux-indignation pouring from the plum-filled mouths of the sons and daughters of the well to do or the yout's with nothing better to do but idiocy. Anarchy performed by people wearing Nike, or sipping lattes and eating Subways. These very people might be the ones who save us. Link to comment Share on other sites More sharing options...
GeordieMessiah 0 Posted March 24, 2009 Share Posted March 24, 2009 A new covenant must be made between the people and the Govt. The banking war is against countries (it used to be about assets). I would make a new financial entity that gave money directly to wealth makers and cut out the banks. We must have a new agreement and confidence in shared goals or it will be civil war (you can quote me on that). fala inglês? Link to comment Share on other sites More sharing options...
Guest alex Posted March 24, 2009 Share Posted March 24, 2009 May-Day is going to be a barrel of laughs... I might go down to Cornwall to avoid the nonsensical disorder, faux-indignation pouring from the plum-filled mouths of the sons and daughters of the well to do or the yout's with nothing better to do but idiocy. Anarchy performed by people wearing Nike, or sipping lattes and eating Subways. These very people might be the ones who save us. Parky getting defensive about digs at his own kind I see Link to comment Share on other sites More sharing options...
Fop 1 Posted March 24, 2009 Share Posted March 24, 2009 Looking at inflation today, giving the worst of both worlds whichever way you try to fudge it, probably not. Link to comment Share on other sites More sharing options...
The Fish 9221 Posted March 24, 2009 Share Posted March 24, 2009 Save us? doubtful. The majority of the people that'll be tossing things through McDonalds windows haven't the foggiest idea what an economic downturn is, let alone what to do about it. I fear you give miscreants a little too much credit Parkster. ... great Thor I get twatty when I'm unemployed during the day Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 Save us? doubtful. The majority of the people that'll be tossing things through McDonalds windows haven't the foggiest idea what an economic downturn is, let alone what to do about it. I fear you give miscreants a little too much credit Parkster. ... great Thor I get twatty when I'm unemployed during the day I guess what I meant was they have excess capital with which they buy things. But I agree, Tiffany needs a kick in the crutch. Link to comment Share on other sites More sharing options...
Guest alex Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. Link to comment Share on other sites More sharing options...
NJS 4003 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted March 24, 2009 Share Posted March 24, 2009 Nevermind the trainers, where does the tax money come from that runs the public transport? I fucking hate Marxists. Yeah you Parky... Link to comment Share on other sites More sharing options...
Guest alex Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. I think that was all to do with the same thing wasn't it? Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 Nevermind the trainers, where does the tax money come from that runs the public transport? I fucking hate Marxists. Yeah you Parky... I ain't getting into that today. Link to comment Share on other sites More sharing options...
Fop 1 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. You mean Bono hasn't given all his money away to help starving people. Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. You mean Bono hasn't given all his money away to help starving people. What happened to that red credit card thing? Link to comment Share on other sites More sharing options...
Meenzer 14136 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. You mean Bono hasn't given all his money away to help starving people. What little he has left after flying his hat first-class, that is. Link to comment Share on other sites More sharing options...
manc-mag 1 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. That Live Aid type thing for the G8 a couple of years ago (I forget the title) was a classic - the tickets were free but there was a huge fuck off VIP area in front of the stage just for corporate guests. You mean Bono hasn't given all his money away to help starving people. What little he has left after flying his hat first-class, that is. Begorra! Link to comment Share on other sites More sharing options...
Cid_MCDP 0 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. See, that's why I've been secretly hoping this financial mess deal would finally just catapult us into out-and-out food riots worldwide. I'm just so sick of everything- it's all boring as fuck, it all sucks. Everything is all underwritten by our corporate overlords. Can't even have a decent protest march anymore for all the dipshit college kids showing up with logos all over them, or even worse, the ones that think they're off the grid and wear black bandannas so the satellites won't be able to I.D. them. Christ, what I wouldn't give for a good zombie apocalypse... Link to comment Share on other sites More sharing options...
Park Life 71 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. See, that's why I've been secretly hoping this financial mess deal would finally just catapult us into out-and-out food riots worldwide. I'm just so sick of everything- it's all boring as fuck, it all sucks. Everything is all underwritten by our corporate overlords. Can't even have a decent protest march anymore for all the dipshit college kids showing up with logos all over them, or even worse, the ones that think they're off the grid and wear black bandannas so the satellites won't be able to I.D. them. Christ, what I wouldn't give for a good zombie apocalypse... It's coming. Link to comment Share on other sites More sharing options...
Fop 1 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. See, that's why I've been secretly hoping this financial mess deal would finally just catapult us into out-and-out food riots worldwide. I'm just so sick of everything- it's all boring as fuck, it all sucks. Everything is all underwritten by our corporate overlords. Can't even have a decent protest march anymore for all the dipshit college kids showing up with logos all over them, or even worse, the ones that think they're off the grid and wear black bandannas so the satellites won't be able to I.D. them. Christ, what I wouldn't give for a good zombie apocalypse... It's coming. It's harder than you'd think. Link to comment Share on other sites More sharing options...
The Fish 9221 Posted March 24, 2009 Share Posted March 24, 2009 I remember seeing kids at the Central Station who were going up to that 'Make Poverty History' protest in Edinburgh a few years ago (2005 iirc) doing exactly what Fish describes i.e. wearing Nike / adidas trainers and drinking Starbucks coffees. You couldn't make it up,. See, that's why I've been secretly hoping this financial mess deal would finally just catapult us into out-and-out food riots worldwide. I'm just so sick of everything- it's all boring as fuck, it all sucks. Everything is all underwritten by our corporate overlords. Can't even have a decent protest march anymore for all the dipshit college kids showing up with logos all over them, or even worse, the ones that think they're off the grid and wear black bandannas so the satellites won't be able to I.D. them. Christ, what I wouldn't give for a good zombie apocalypse... It's coming. It's harder than you'd think. Then have a cold shower. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted September 23, 2009 Share Posted September 23, 2009 "A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. The significance of the holding is that if MERS has no standing to foreclose, then nobody has standing to foreclose – on 60 million mortgages. That is the number of American mortgages currently reported to be held by MERS. Over half of all new U.S. residential mortgage loans are registered with MERS and recorded in its name. Holdings of the Kansas Supreme Court are not binding on the rest of the country, but they are dicta of which other courts take note; and the reasoning behind the decision is sound." http://www.globalresearch.ca/index.php?con...a&aid=15324 This is a potentially gigantic story. It seems that a court has ruled that about half of the mortgage market has been run as a criminal enterprise for years, which would invalidate any potential forelosure proceedings for about, oh, 60 million mortgages. The court ruled that the electronic transfer system used by the private company MERS — a clearing system for mortgages, similar to a depository, that is used for about half the mortgage market — is fundamentally unreliable, and any mortgage sold and/or transferred through MERS can’t be foreclosed upon. Nothing like waking up in the morning and finding out a whole sector of the economy is completely screwed. Are these good times or what? http://trueslant.com/matttaibbi/ More at http://www.huffingtonpost.com/ellen-brown/...e_b_292333.html Holy shit. This could be funny. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted September 23, 2009 Share Posted September 23, 2009 HF, you should be a journalist. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now