It's BAD, it's STILL very bad REPRISE thread (13 months on)
Discussion
turbobloke said:
McDonalds quits Rochdale, it seems that this is some sort of barometer event.
http://www.dailymail.co.uk/news/article-2066591/Ro...
It's possible that the residents of that fair town have discovered what tastebufs are for. ...http://www.dailymail.co.uk/news/article-2066591/Ro...
Gwagon111 said:
I've never experienced anything like this current situation. There is still big money out there, it's stting itself and not spending on things that are visible to the majority at the moment.
There is stloads of money out there, we spunked up loads to bail out the banks who are sitting on it......it needs to move to be of any use though and it isn'tanonymous said:
[redacted]
+1The fact that this particular downturn was triggered by bank problems is nowe irrelevant. It's the combination of excessive spending and trying to maintain a single currency across varied economies that meant that any downturn would put Europe in the sherbert dip.
Dr Jekyll said:
anonymous said:
[redacted]
+1The fact that this particular downturn was triggered by bank problems is nowe irrelevant. It's the combination of excessive spending and trying to maintain a single currency across varied economies that meant that any downturn would put Europe in the sherbert dip.
spikeyhead said:
turbobloke said:
McDonalds quits Rochdale, it seems that this is some sort of barometer event.
http://www.dailymail.co.uk/news/article-2066591/Ro...
It's possible that the residents of that fair town have discovered what tastebufs are for. ...http://www.dailymail.co.uk/news/article-2066591/Ro...
Apologies for moving the thread away from the important subject of fast food provision. And apologies for the length of the post. I know by writing this I'm limiting my audience to around 2% of the people that will view this and so, for the few of you that will actually read and comprehend what's below, a brief note of thanks is due.
If you are the type that wants a two line executive summary - forget it. The subject is too large and complex for any Daily Mail headline to convey the concept. However, if you are interested in how the financial crisis continues to unfold and approach its finale, I would suggest it will be of interest to persevere.
I did wonder if this post would be better placed in one of the many threads running that are currently celebrating Daves new found set of brass spheriods - after all there is much rejoicing being done about his veto of the proposed treaty changes.
Our line in the sand was effectively no changes to regulation of the City of London - ostensibly to protect the 10% of GDP that the financial services market represents and also (as many have repeatedly pointed out) the tax take we enjoy from that sector - which is why we should be encouraging the banks to ignore that old party pooper Bob Diamond and spread the christmas joy amongst the banking troops with a healthy bonus season.
But wait.
What are we actually facilitating with our evidently more banking friendly environment?. After all, we are a key financial centre - many foreign financial institutions have presences here. Is it the weather that brings them to London?. Are they all secret lovers of cockney culture? Probably not.
Much more likely then that it is the regulatory environment - just a little red tape less to deal with, a slightly less severe environment to operate in - I think that's a fair summation of the way it's sold to us as the British public - we are just that little bit nicer to do business with than our European or American counterparts.
In reality, maybe it's because our complete regulatory failure allowed the London office of AIG to effectively create the poisons that hatched out to trigger the first round of the crisis in 2008. Of course, we'll have learnt our lesson since then and we'll be doing a much better job now of reigning in the wilder excesses of the banking system (and we shouldn't be critical of a shark for being a shark - it's just what it does).
Perhaps not.
Below are three links - the first two will need to be read in order to understand the potential issues - and in turn they are long and complex so here's another chance to bail out if attention span is proving to be a problem. The third is optional, being Corzines testimony to congress early this week in regard to the failure of MF Global and what happened to the money. This is able to be summarised - and so I shall, as follows.
"What went wrong?" - "Don't know"
"Where's the money?" - "It's gone, I don't know where"
"Was it your fault?" - "No"
"How do you feel about the $1.2billion of client money that is missing and the impact that this is having on them?" - "Gee, I'm regretful and it must be tough for them. Can I go now?"
So, on with the merry dance. Welcome to the system we are defending so hard with our veto.
http://www.zerohedge.com/news/why-uk-trail-mf-glob...
So todays new word is Rehypothecation. So what actually happens when someone asks "who owns the gold?". We are about to find out.
http://www.zerohedge.com/news/gold-rehypotecation-...
Of course, if the answer is more than one person/entity then things really start to get interesting. And the house of cards will collapse.
We may get to see a lot more performances of this type of executive, with similar outcomes.
http://www.zerohedge.com/news/watch-corzines-mf-gl...
If, as is the vogue, you are invested in gold, now would be a very good time to take physical delivery if you already don't actually have "your" gold in "your" possession.
Because if it ain't physical, it ain't worth st. And if it's stored in a bank, then they may well have rehypothecated your gold multiple times. Ask them to deliver it, see what they say.
Given the above, does anyone else (and bless you for making it this far) believe that Camerons performance was something to celebrate?.
Banks are the bio-chemists, but we, the country, control the laboratories and equipment that allow them to brew the poisons. Should we really be stood outside the doors of the lab with our backs turned while the chemists experiment?. And when the bang comes, as eventually it must, can we really turn around and look suprised at the smoking crater that was once a nice shiny lab and pretend to be horrified?
It's an interesting problem. So Hurrah for Dave. Because of his big swinging sack, the experiment can continue........for now, at least.
Seasons greetings to you all.
If you are the type that wants a two line executive summary - forget it. The subject is too large and complex for any Daily Mail headline to convey the concept. However, if you are interested in how the financial crisis continues to unfold and approach its finale, I would suggest it will be of interest to persevere.
I did wonder if this post would be better placed in one of the many threads running that are currently celebrating Daves new found set of brass spheriods - after all there is much rejoicing being done about his veto of the proposed treaty changes.
Our line in the sand was effectively no changes to regulation of the City of London - ostensibly to protect the 10% of GDP that the financial services market represents and also (as many have repeatedly pointed out) the tax take we enjoy from that sector - which is why we should be encouraging the banks to ignore that old party pooper Bob Diamond and spread the christmas joy amongst the banking troops with a healthy bonus season.
But wait.
What are we actually facilitating with our evidently more banking friendly environment?. After all, we are a key financial centre - many foreign financial institutions have presences here. Is it the weather that brings them to London?. Are they all secret lovers of cockney culture? Probably not.
Much more likely then that it is the regulatory environment - just a little red tape less to deal with, a slightly less severe environment to operate in - I think that's a fair summation of the way it's sold to us as the British public - we are just that little bit nicer to do business with than our European or American counterparts.
In reality, maybe it's because our complete regulatory failure allowed the London office of AIG to effectively create the poisons that hatched out to trigger the first round of the crisis in 2008. Of course, we'll have learnt our lesson since then and we'll be doing a much better job now of reigning in the wilder excesses of the banking system (and we shouldn't be critical of a shark for being a shark - it's just what it does).
Perhaps not.
Below are three links - the first two will need to be read in order to understand the potential issues - and in turn they are long and complex so here's another chance to bail out if attention span is proving to be a problem. The third is optional, being Corzines testimony to congress early this week in regard to the failure of MF Global and what happened to the money. This is able to be summarised - and so I shall, as follows.
"What went wrong?" - "Don't know"
"Where's the money?" - "It's gone, I don't know where"
"Was it your fault?" - "No"
"How do you feel about the $1.2billion of client money that is missing and the impact that this is having on them?" - "Gee, I'm regretful and it must be tough for them. Can I go now?"
So, on with the merry dance. Welcome to the system we are defending so hard with our veto.
http://www.zerohedge.com/news/why-uk-trail-mf-glob...
So todays new word is Rehypothecation. So what actually happens when someone asks "who owns the gold?". We are about to find out.
http://www.zerohedge.com/news/gold-rehypotecation-...
Of course, if the answer is more than one person/entity then things really start to get interesting. And the house of cards will collapse.
We may get to see a lot more performances of this type of executive, with similar outcomes.
http://www.zerohedge.com/news/watch-corzines-mf-gl...
If, as is the vogue, you are invested in gold, now would be a very good time to take physical delivery if you already don't actually have "your" gold in "your" possession.
Because if it ain't physical, it ain't worth st. And if it's stored in a bank, then they may well have rehypothecated your gold multiple times. Ask them to deliver it, see what they say.
Given the above, does anyone else (and bless you for making it this far) believe that Camerons performance was something to celebrate?.
Banks are the bio-chemists, but we, the country, control the laboratories and equipment that allow them to brew the poisons. Should we really be stood outside the doors of the lab with our backs turned while the chemists experiment?. And when the bang comes, as eventually it must, can we really turn around and look suprised at the smoking crater that was once a nice shiny lab and pretend to be horrified?
It's an interesting problem. So Hurrah for Dave. Because of his big swinging sack, the experiment can continue........for now, at least.
Seasons greetings to you all.
Durruti said:
Banks are the bio-chemists, but we, the country, control the laboratories and equipment that allow them to brew the poisons. Should we really be stood outside the doors of the lab with our backs turned while the chemists experiment?. And when the bang comes, as eventually it must, can we really turn around and look suprised at the smoking crater that was once a nice shiny lab and pretend to be horrified?
Why in your analogy are they making explosives rather than undertaking a large scale synthesis of a cancer cure?I'll read the zerohedge content later, so not totally wasted (me and your links)
Willy Nilly said:
turbobloke said:
Why in your analogy are they making explosives rather than undertaking a large scale synthesis of a cancer cure?
Probably something to do with leopards and spots.bosscerbera said:
mondeoman said:
turbobloke said:
Swaps markets have now, apparently, priced in the first interest rate hike for December 2015.
oh(is that better Mr Boss? )
bosscerbera said:
mondeoman said:
turbobloke said:
Swaps markets have now, apparently, priced in the first interest rate hike for December 2015.
ohhidetheelephants said:
bosscerbera said:
mondeoman said:
turbobloke said:
Swaps markets have now, apparently, priced in the first interest rate hike for December 2015.
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