January 3, 200917 yr http://www.reuters.com/article/newsOne/idUSTRE5014F120090102 U.S. governors seek $1 trillion federal assistance Corzine said the money called for represents about 3 percent to 3.5 percent of the economy, equivalent to the amount that the economy is expected to contract by over the next two quarters. In light of the $700 billion provided to bail out the financial industry, "It's not shockingly large," he said.
January 4, 200917 yr Author I read another article saying the steel industry is looking for 1 trillion in bailouts. http://www.news.com.au/heraldsun/story/0,21985,24867978-5005961,00.html
January 4, 200917 yr In some industries... people need to accept market forces, demand is else where... Why put money into something that people might not want anymore ... its not vaiable Over in the UK there was a household name store that went under I am sure u all may have heard.. or some of u. No goverment Bail out.. as no long vaiable ! Banks I could understand just about.. but with cars-- I am sure most people in the US are buying other cars and so is the rest of the world... Solutions are ... make new industries... etc
January 4, 200917 yr Woolworths you mean? It's good the UK governement didn't bail it out, because if it starts bailing out retail shops where will it end?
January 4, 200917 yr yep... I just did not think everyone outside of the UK would be would be aware of the company name so I chose to omit that from my reply
January 4, 200917 yr Author In some industries... people need to accept market forces, demand is else where... Why put money into something that people might not want anymore ... its not vaiable Over in the UK there was a household name store that went under I am sure u all may have heard.. or some of u. No goverment Bail out.. as no long vaiable ! Banks I could understand just about.. but with cars-- I am sure most people in the US are buying other cars and so is the rest of the world... Solutions are ... make new industries... etc no no no not banks! Let them all fail, banks have become to big and too corrupt, we need to start over, wipe the slate clean. Banks failing is not the end of the world, it's just a process in starting over. Banks were greedy and stupid, let them pay the price for it and learn from it. Bail out= no lessons learned, mistakes repeated.
January 4, 200917 yr I think the UK government has made a few mistakes over the past few months.. Even though they say the Bank of England is independent of the Government I am sure they have asked them to reduce interest rates.. and making the pound suffer as a consequence. There had been some rumours Europe would have to follow suit, but they are not going to I don't think interest rates people have been paying and currently paying there is hardly no difference and as for the banks being scared to lend to each other.. well time would have passed, it would have got better, a year to 18 months All the UK has done is create a situation that is going to get a whole lot worse before its gets better unless 1. They join the Euro 2. Unless they are prepared to enter some very dark times and raise interest rates above 6 % in order to recover the point. 3. or unless they are prepared to live with a low pound forever one that is less than the Euro ( which is great for me when I go back home) I feel bad next week my cousin is coming here for a week. The price I pay for my beer is normal for me.. but for him its going to be a minimum of 3 quid a pint 4 to 5 in most places... unless he is willing to go to a café but these are not really the most appropriate places to be going for a drink
January 4, 200917 yr Author Bart I'd rather be in Britain or most of Europe right now then the U.S. because when things are down, western Europe will be in better shape. Specially when the Euro becomes the world reserve currency!
January 4, 200917 yr Well I did predict this.. a few months back... currencies will be next thing they mess with... we will have to see what happens.. Pity people like u and me cant play that sort of Market
January 4, 200917 yr Author Well I did predict this.. a few months back... currencies will be next thing they mess with... we will have to see what happens.. Pity people like u and me cant play that sort of Market It's rigged against the little man....just like Wall Street.
January 4, 200917 yr I think the UK government has made a few mistakes over the past few months.. Even though they say the Bank of England is independent of the Government I am sure they have asked them to reduce interest rates.. and making the pound suffer as a consequence. There had been some rumours Europe would have to follow suit, but they are not going to I don't think interest rates people have been paying and currently paying there is hardly no difference and as for the banks being scared to lend to each other.. well time would have passed, it would have got better, a year to 18 months All the UK has done is create a situation that is going to get a whole lot worse before its gets better unless 1. They join the Euro 2. Unless they are prepared to enter some very dark times and raise interest rates above 6 % in order to recover the point. 3. or unless they are prepared to live with a low pound forever one that is less than the Euro ( which is great for me when I go back home) I feel bad next week my cousin is coming here for a week. The price I pay for my beer is normal for me.. but for him its going to be a minimum of 3 quid a pint 4 to 5 in most places... unless he is willing to go to a café but these are not really the most appropriate places to be going for a drink The Bank of England might be independent of the Government, but the strings are all pulled behind the scenes by the governement. And the UK can't join the Euro because the national debt is that bad.
January 4, 200917 yr Author I'm waiting for ww3, but not waiting in a good way. I just think when there is this much financial turmoil it's almost bound to end in violence. Look what the great depression helped cause. "Theres a cold war coming, On the radio I heard Baby it's a violent world"
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