Friday, May 14, 2010
Who will bail out the countries?
Market Watch: The second debt storm
The debt mountain that brought down some of the world's biggest banks and dragged the international financial system to the brink of disaster has simply shifted to governments. Now, it's threatening countries around the globe and if left unchecked could rip the very fabric of Europe's economic system and wreck economic recoveries in the U.S., China and Latin America.
Posted by devo @ 06:39 AM (1045 views) Add Comment
7 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. alan said...
Mervyn said, "We are still halfway through the world's worst financial crisis ever,". It's "imperative that our own fiscal problems are dealt with sooner rather than later."
2. nomad said...
Why was he not saying these things a month ago? Subjected to bullying maybe?
3. goweresque said...
Well duh!!! Where were the oh so prescient economic forecasters and advisors saying this in 2008? I certainly was. It was obvious that the tsunami of debt that had built up in the financial system, backed by overpriced property assets (or nothing) had not gone away, but had been socialised - added onto the debts of society as a whole. Now that particularly large chicken is coming home to roost.
Well done world leaders, you bought 2ish more years of the status quo, at the expense of potentially bringing down entire countries, maybe the whole world economy. Great job.
4. orcusmaximus said...
@goweresque
You left it until 2008 to say this? Most people on this site were saying it years before. Mind you, they were also talking about Mayan calendars and the like so maybe best not go there :-)
5. sneaker said...
I heard aliens from Saturn are preparing an emergency drop of Solaros (the new currency of our solar system) from their flying saucers.
Welcome to the New Solar Order ha ha ha.
6. This comment has been removed as it was found to be in breach of our Blog Policies.
7. This comment has been removed as it was found to be in breach of our Blog Policies.