Friday, Jun 29, 2007
Even some at the BBC getting bearish ?
BBC: Crunch time?
The BBC finally seems to be reporting things that have been known for a while now, could we be in for a hair raising few weeks or months ? is this going to be finally it ?
Posted by bryan @ 08:12 PM (168 views) Add Comment
6 Comments
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1. enuii said...
The comments underneath the article are the best read, have we all been posting en-masse or are we not alone in having a better grasp of reality than the VI's think we have.
2. sold 2 rent 1 said...
"What's more, all credit markets are connected. So when big losses occur in one area, the supply of credit to seemingly unconnected borrowers can be cut very rapidly - as we are seeing in a spate of cancellations of higher risk debt-issues by companies and financial businesses. "
A good description of the liquidity crisis that is evolving right now.
3. Orwell said...
Nothing really we don't know.
This sums it up: "...when everyone wants out, the price falls through the floor."
Never a truer word.
4. sovietuk said...
Impossible to hide the stench now coming from every direction. Snap election before it's too late???
5. japanese uncle said...
Here is what I posted in Septembre/2006 just for the purpose of reconfirmation
-------------------------------------------------------------------------------------------------------------------------
Here is the summary of what happened and what will happen in, say, in another fifiteen years time.
1. Coordinate central banks (not owned/controlled by taxpayers at all, but a handful of global financial tycoons, contrary to the perception of the general public) to soak the LTS (Lamb to the Slaugher) in the pool of cheap money.
2. Coordinate major commercial media (enslaved to shareholding financial tycoons, banks, etc, as well as advertisors) to bombard the LTS with all those brainwashing Property TV programmes to convince them that "it's now or never" and in particular to those kids who are intentionally kept unenlightened under the campaign promoting stupidity and ignorance (e.g. Big Brothers, Celebrity ---) while suppressing genuine intillectual curiosity not least in the area of economic/political history, in an effort to deter them from seeking the truth.
3. Accelerate this madness to other countries to extend the fictional boom on a global scale.
4. Coordinate the Oil Majors with collaboration of producers often under the control of corrupt selfish/greedy dictators (except Chavez in Venezuela who is incidentally offering cheap gasoline to the poor New Yorkers, and London Bus Service via Ken Livingston connection ), along with the media campaign to drive psychological insecurity yelling 'Peak Oil' which is absolutely controversial, being simply a matter of opinion rather than an established fact (Look! They have kept saying only 30 years reserve before exhaustion for more than 30 years), to rig the market.
5. Given petro price the single most influential parameter over the general price level, economy of nations will be subject to inevitable inflationary pressure, providing nice pretext to the central banks for raising base rates or official discount rates.
6. Cheap money is quickly withdrawn from the money market, leaving the LTS at a loss, who are forced to sell their houses bought by the ultra-overstretched finance, or are subject to repos.
7. Millions of the LTS left with cripling debt even after the loss of their houses keep repaying to their banks and BS.
Here we are witnessing the emergence of the 21 century slavery, nothing less.
Sunday, September 24, 2006 12:02:10 PM
6. Ticktock said...
But if poitical philosophy was fairly (and truthfully) taught in universities then people might recognise what Ideology the above suggested Government/Corporate 'joined up thinking' actually is.
Certainly not 'freedom and democracy'.