Monday, Sep 29, 2008
Let's just do it anyway
Bloomberg: Fed injects $680 billion into financial system
The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone.
Posted by little professor @ 08:04 PM (2099 views) Add Comment
53 Comments
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1. planning4acrash said...
Good point about "Lets just do it anyway" because they've already pumped in $700bn, recently, Fed already has no oversight and just pumps money already. This was to formalise the dictatorial powers and lack of accountability. What we really need is a reversal of that. It is a shame that the vote was so close. Makes a compromise all the more likely.
2. flintster1994 said...
P4C Accept events and position yourself accordingly!
3. flintster1994 said...
As I know you have.
4. techieman said...
Gentlemen we are living through historic times. Something to tell yr kids about...
5. dohousescrashinthewoods said...
Quite, techieman! Blimey, Politicians quangos and private banks running around doing whatever they like without so much as a democratic mandate, from ID cards and road charging, right through to national currency destruction. Back-scratching I'll-do-whatever-the-heck-I-like-and-you-can't-stop-me has gone mad.
6. plato said...
Gentlemen : We are living through hysterical times
7. planning4acrash said...
Yup, Filntster, thankfully, or not, I have f'all money. I did what I could for the past 4yrs, getting qualifications to see me through, found a cheap place to rent, and put the very little I have into a couple of gold coins. It kind of worked out so far. Fingers crossed! During the Great Depression, 20% + were unemployed. The employed did very well as a result of falling prices. Not sure how it will work this time round tho. Inflation will hit everybody if it happens. I foresee a £2k flight to Australia being the norm if this fraud continues.
8. Xgarb said...
where does this money come from? Have they just ordered a new xerox copier and 100 rolls of Andrex to print the stuff up? That's all dollars will be worth soon.
9. enuii said...
P4C, that will exterminate a few airlines and bring Butlins holiday camps back in vogue, welcome back to the 1960's!
10. plato said...
Oh !!!!!!!!! yoyo1
11. debtfree said...
Do you think there could be a stock market collapse and a run on quite a few more banks before end of year ?
Personally, I think this is going to be a once in a lifetime financial crisis not seen since 1929.
12. rumble said...
@techieman Something to tell yr kids about...
Wouldn't know where to start! Been reading this site pretty much daily since 2005, and I just can't keep up anymore! Information overload, like drinking from a firehose. If my boss knew how much time I'd spent on this site....
13. plato said...
techieman
Hold on! Wait and see........... The next trick is about to be played.
14. sold 2 rent 1 said...
Calleman's fifth night destruction - remember this is the warm up for the main event in 2011.
You aint seen nothing yet.
Don't shoot the messenger if you can't handle the message
15. indiablue19 said...
Consider the amount of thought that used to go into which mergers created unfair monopoly, which joint ventures might dominate the free market to the detriment of competitors - or even society. When it bottoms out, what kind of rubble will be left of "free" enterprise? Ladies and gentlemen, grab your axes and shovels.
16. down wave said...
Virtually No One knows how to design deflationary business models, including governments. Businesses must build a deflationary model into their future projects to survive.
Deflationary recessions are uncontrollable. Any business that is on the rocks that cannot do this or shift their business paradigm to profit in an extended period of deflation, may just as well let themselves be wound up, otherwise they will get wound up by 'Statutory Demands (see link below)'. The banks are going to pull the rug from under our feet and reposes securities exposed to overdrafts and unpaid mortages.
I simply have no words to express just how dangerous the situation is getting.
http://www.insolvencyhelpline.co.uk/legal_issues_explained/statutory_demand.php
17. layers said...
@4 Techie - we certainly are - but now it's in ya face, just wait till the meteors start hitting!
@13 S2R1 - well Calleman certainly seems to be in tune with a number of other views, and I think we're through the event horizon, so let's see what happens.
18. Flintster1994 said...
S2R1
Are you scared or are you genuinely comfortable with your preperations? Callemans model is a guide, not a definitive survival manual! But I suppose that's the Mayans whole point, be good go with the flow! Dons his reinforced tin hat!
19. flintster1994 said...
S2R1
Are you scared or are you genuinely comfortable with your preperations? Callemans model is a guide, not a definitive survival manual! But I suppose that's the Mayans whole point, be good go with the flow! Dons his reinforced tin hat!
20. dude said...
It will get back to business as usual, but it will take a while. Meanwhile, the whistling sound from the asset bubble will continue to shriek, as more and more people fall into negative equity. What is really despicable is that if you didn't want to buy into the 'look at how much houses are now worth' crowd, and get onto the housing ladder, but instead simply wanted to rent at a fair rate, the complete dominance of the private sector has been corrupting and meant you could not get a fair home for a fair price.
Still, it's so joyful now to see all these greedy (easy money) people now starting to squirm. (I know I should be sorry for them but I'm NOT!!)
I do hope this is the end of private is good and public bad view. It used to be that private was good for some things and public was good for others. Now everyone whinges about how much tax they pay, and that must change. More direct taxation will mean the richer will pay more of their fair share. (Remember it was the Tories that started the stealth tax approach because they had run out of things to sell off.)
So yes, historic/hysteric times. But rather than Labour/Tories we now need to think of a fairer society for our children. For example, get rid of tuition fees -- that was only brought in to stop frightening the middle classes (eg me) who would otherwise have to pay. We *should* have to pay it, FFS. I'm all for putting the tax burden more onto middle England, if it means a better society for all.
One final prediction -- I still bet that the 2010 election will not be good for the Tories.
21. sold 2 rent 1 said...
Some quotes from above.
"Gentlemen we are living through historic times. Something to tell yr kids about..."
"I just can't keep up anymore! Information overload"
Change is going to accelerate faster and faster into the singularity.
I believe accepting this reality is the only way to eventually achieve the enlightened state. (BTW I am not there yet myself, maybe nowhere near, who knows)
You have 3+ years left to make your mind up, so there is no rush, but I reckon the mental pain increases the longer you leave it.
22. mountain goat said...
S2R @9.22 I think you are right, employment is still high and credit card debt hasn't fallen over yet. This is only the start.
This panic is making it clear to the whole population, something we on this site have known for years.
23. sold 2 rent 1 said...
flintster,
"Are you scared or are you genuinely comfortable with your preperations?"
Slightly nervous but genuinely excitied that evolution could actually complete in 3 years and 1 month.
I have prepared well and as the end of money is due in 2011 it is not a problem if I get it wrong - the Mrs may see it differently!!!!!
To be fearful is totally the wrong attitude.
Watch the last 20 mins of Esoteric Agenda fo why fear is so bad
http://video.google.com/videoplay?docid=-6030443037963555139
24. alan said...
Index down 700+ and still going. Yes, a big drop on the Dow.
Now for Asia's reaction. People are going to say "they are paid all that cash - why didn't they see it coming? - was it a "BLACK SWAN"? (Certainly a historic moment in Economics.....)
But NO, it was forseeable. Anyone using this site regularly over the past 2 years was expecting major problems. Yes, I agree with Mountain Goat!
25. dohousescrashinthewoods said...
I just wonder whether after all this complex guff has fallen in on itself, things will just revert to a more rural, simple, sustainable and basic sort of life.
26. Yoss said...
Is this inflationary?
27. flintster1994 said...
Rural, simple & sustainable? I would love to think so but I believe we are moving to the next phase of creation. I'm sure it will be even more amazing than my own personal utopia, that being the Scottish countryside! I'm up the hills at least once a week, recently.
28. gardeniadotnet said...
23. dohousescrashinthewoods said... things will just revert to a more rural, simple, sustainable and basic sort of life.
I hope so. It's what I've been preparing for over the last few years. My family have JUST started to listen to me.
gardenidiot
29. sold out said...
How long it it going to take before todays events filter into the general economy? days? weeks? months?
anyone have any ideas? And whats likely to occur next?
30. alan said...
Just watched Nancy Pelosi's speech! Better than a soap opera!
She tore into the Republicans for privatising profit and socialising debt - then asked everyone to back the bill!
Almost as wincingly funny as Blackadder!
Gooooo Nancy!
31. flintster1994 said...
S2R1
Thanks. Will watch it the morn. My Mrs is slightly sceptical as well, but so cool about it in her own way.
32. last_days_of_disco said...
Been working on teaching all my kids how to ride horses today.
I think we are just heading for more of mixed economy. Less cars, and the return of more traditional forms of transport. This might not be all bad.
More time to think, less nut jobs racing around killing people in cars. Its going to be interesting seeing how our modern tech gets applied to this problem now we seriously have to face it (horse sat-nav, horse hands-free kit). Oh and can we ditch the stupid UK saddle for something more practical? Going to see some excellent new tack on the market.
Before today I really just thought it was a hobby but increasingly I am realizing this is an important skill they will need.
33. gardeniadotnet said...
26. sold out said...
26. sold out said...days? weeks? months?
The institutional investors are getting nervous... could be days.
After capitulation in the wholesale markets there'll be absolute chaos for a short time.
How things unfold after that - who knows?
34. down wave said...
Why is that everything that I have said goes over the tops of your heads. Even companies that
have contract that extend into the next year and beyond cannot borrow money to pay wages or
purchase materials?
35. indiablue19 said...
The new economics had already filtered down into our lifestyle. And I'd realised years ago where the economy future would be going. Not so fervent as S2R1, but on that order.
Please note: For those thinking "rural and sustainable" we've done our first fullfledged run at it this year and you should also think "backbreaking" because it is. Even with all the work done here, if we'd had to survive from our efforts there's a LONG way to go. It may sound do-able if you only shift your focus, but it's damned difficult if your life has been behind a desk or only moderately active. And, if you've been watching the climate change news for the past twenty years, realise it will have direct impact on how sustainable your efforts are. At one and the same time, the climate here is entirely different than expert farmers knew. We literally had potato blight and my kinship with Irish ancestors deepened immensely. Nota Bene: buy a greenhouse kids!
36. gardeniadotnet said...
down wave said...
>Why is that everything that I have said goes over the tops of your heads. Even companies that
have contract that extend into the next year and beyond cannot borrow money to pay wages or
purchase materials?
>I simply have no words to express just how dangerous the situation is getting.
With respect, I think many contributors to this thread take your comments as a given.
37. enuii said...
Thats some big UK housebuilders down the pan then!
38. last_days_of_disco said...
But really, before I get accused of being flippant again I am basically learning to position myself for a completely different set of assumptions.
Which I think is what S2R in his tin-foil hat sort of way is really saying. And different assumptions that appear innocuous on the surface can cause completely radically different outcomes.
Who says you can't own and use a horse to get to work?
Who says you can't leave the horse in a nearby field if you pay a small fee to a local farmer?
Its better than sitting in a traffic jam burning up precious fuel and its certainly more fun and the UK is *designed* for this form of transport. All the bridal paths are already in place. And seen as the insurance industry will be practically dead anyway, no one will care if you fall off. So there goes all the perverse health and safety insurance rules (hallelujah -> I mean that with the greatest respect).
39. flintster1994 said...
Love horse riding as well Last Disco, but try to appreciate that they are part of the big yins plan as well! I think your plan is admirable as long as you teach your kids utter respest for every living creature. And make sure that your wee yins realise how lucky they are to be given this opportunity that a huge part of the British population will never have. I'm happy for yous.
40. gardeniadotnet said...
...teach your kids utter respect for every living creature.
Except slugs.
41. renting2 said...
I always wondered what a Russian felt like as the Berlin Wall fell. The total failure of what they were forced to believe in. Are we at that, or near that point?
42. indiablue19 said...
renting2 ......... In a word - Yes.
43. enuii said...
For future reference this might be useful; http://www.entitledto.co.uk/
Apparently 'People across the UK are missing out on benefits and tax credits worth more than £5 billion a year. Entitledto can help make sure you get what is yours. Just use this simple calculator to work out how much you could claim.'
44. flintster1994 said...
Good eating G!
45. last_days_of_disco said...
@flintster1994
I love horses, this is not just a use thing. The fact is its not really out of reach of most British. They just prioritize SKY TV and fancy holidays abroad over teaching their kids this stuff. Really. I am always shocked at how few people sit inside watching TV instead of getting out and enjoying one of the fairest isles in all the world. I love the UK, I love the rain, I love the spring, I love the birds, I love the sense of belonging and ownership. Its designed for horseback. You can see over hedges on horseback. That is why they are that irritating height that makes them so dangerous to cars on small lanes.
I am not wealthy, its not that expensive if you give up other things. With the collapse of this *crack* fueled economy, hopefully people will become more aware of what they have instead of wanting to be everywhere else. I don't own any horses even. There are loads of pony share schemes out there.
Life is for living, leave the TV behind.
46. flintster1994 said...
Your weans are damn lucky! Teach them the finer things in life and keep yourself up to date with the bigger picture!
47. jack c said...
@down wave - Monday, September 29, 2008 10:24PM
Your comments dont go unnoticed - this sites moving fast at the moment - businesses in Northern Ireland (for example) have problems and are paying for materials on credit cards as reported on R5Live - the sheeple will understand when there are no wages in their accounts and "computer says no"
48. down wave said...
jack c said & gardeniadotnet . Thanks for your support. I have been doing my utmost to expose this situation. Even to attempting to make videos: see:
http://www.whalemedical.com/videos/-3.wmv direct link to: Covert Manipulation, Concealed Hostility, Clandestine Malevolency.
The main page for other videos is:-
http://www.whalemedical.com/v1.html
This is what we need to sort this situation out:- http://www.whalemedical.com/videos/+5.wmv , The hero and Champion.
I hope you enjoy them email me direct from the main page with your observations. At this time I feel alone and isolated by good inside my heart.
49. sold 2 rent 1 said...
down wave,
"At this time I feel alone and isolated by good inside my heart"
I think you need to watch
Esoteric Agenda
http://video.google.com/videoplay?docid=-6030443037963555139
especially the last 20 mins.
50. Bellwether said...
S2R1 your views have a messianic quality. Do you have any perspective on them? How for example do you know that you have reached/approximated the necessary altered state of consciousness to know that you are perceiving things accurately? How do you know you are not deluded?
51. bellwether said...
s2r1 your views seem quite messianic. Do you have a sense of perspective on them? How do you know you are actually perceiving matters from a state of higher consciousness? Do you have a sense that you might be wrong?
52. down wave said...
s2r1: It sould read: 'But Good in my Heart' not 'by'
53. gardeniadotnet said...
@down wave said... The main page for other videos is...
I don't usually watch videos, but if you make your points here on active threads over the next few days, they will certainly be read.