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A Guardian Black Monday?

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#16 Democorruptcy



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Posted 24 September 2011 - 12:30 PM

I saw Osborne interviewed yesterday and he said "The Eurozone is at the epicentre of a debt crisis".

He is like a thief being pursued by Police and when they catch up to him, he points and says "He went down that street" and they believe him and run off where he is pointing.

If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.


A "Governbankment" is a Government like ours, that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, promises our taxes will go to bankers, to cover their losses on mortgages that default.


The more houses cost, the more hours you have to work to buy one. The more hours you work, the more taxes you have to pay the Governbankment. The more debt you take on and the longer the mortgage term, the more interest you have to pay bankers, so the more hours you also have to work for them. House were cheap when people did mortgages at 3x main income for a whole house. Now banks encourage them to do 4.5x joint income, often for only a share of a house, the houses cost a lot more. House prices are all about people's appetite for lending. 


If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.



#17 _w_


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Posted 24 September 2011 - 12:33 PM


It's not all fixed ?

They didn't have it under control all along ?

I'm shocked I tell you, shocked!

My faith in the abilities of the Central Banks to resolve this temporary 4 year crisis has been suddenly and inexplicably ripped away from me. I just don't get it :(

:lol: :lol: :lol:

If there is one lesson one should have learnt from the past few years it is that Central Banks can create inflation. At will.

"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."
–Frederic Bastiat

#18 leicestersq


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Posted 30 September 2011 - 08:28 PM

Morgan Stanley down 10% today.

I just posted this good news on the first Black thread I came across.

I see reggie middleton is claiming to be hunting the squid. Things are looking up.

#19 CrashConnoisseur


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Posted 30 September 2011 - 08:46 PM

Obama urges France and Germany to move quickly to find a solution to the eurozone crisis, while UK chancellor George Osborne claims Britain is 'ahead of the curve'.

Just ahead of the U-bend?

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