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Sinking Feeling

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Everything posted by Sinking Feeling

  1. The Japanese were a nation of savers not debtors.
  2. That's incredible. Even last year for almost every pound paid in income tax by a working person, there was some scrubber taking a pound out!
  3. If graduates think things are bad now, just wait until this time next year when the second round of crises hit!
  4. The problem is that recessions are blighted by waves of bad with glimmers of hope in between. I think we've only just been through the first wave - we still have the second wave to ride of a similar magnitude.
  5. I really don't understand why people even want to bother with Uni these days - you pay for something which has little value and load yourself with debt for nothing.
  6. 'on a typical graduate salary of £22,300'. There are a lot of new graduates earning less than that an most will be lucky to even get a job at all - i guess at the same time you would expect to be earning a lot more than that after 12 years.
  7. This extract from a 1934 book 'Merchants of Death' explains how how French and Czech defence companies avoided redundancies by supporting some foreign gentleman who looked like he might be dangerous- a little known mini-mustached Austrian fellow by the name of Adolf Hitler! Just trying to give you some ideas! 'In Europe their colleagues are even more active. Hitler has now become the symbol of the return of German militarism. Even before he managed to obtain supreme power therewas speculation as to his financial backers. Obviously they included German industrialists fearful of socialism, communism,and the labor unions, nationalists smarting under the "insults" of the Versailles treaty, and a host of other discontented folk. But on the list of these contributors supplying funds to the Hitler movement were the names of two capitalists—Von Arthaber and Von Duschnitz—directors of Skoda, the great armament firm of Germany's neighbor and enemy, Czechoslovakia. Interlocking directorates are a familiar phenomenon in the United States. The real controller of industries is frequently found in the most unexpected places. In Europe the same system prevails. And so it appears that Messrs. Von Arthaber and Von Duschnitz represent a firm which is controlled by still another firm. The head of this holding company is neither German nor Czech. He is a French citizen, M. Eugene Schneider, president of the Schneider-CreusotCompany which for a century has dominated the French arms industry and which through its subsidiaries now controls most of the important arms factories in Central Europe. Some of Hitler's financial support, then, was derived from a company owned by a leading French industrialist and arms maker. Arms merchants also own newspapers and mold public opinion. M. Schneider is more than just president of Creusot. He is the moving spirit of another great combine, the Comiti des Forges. This French steel trust through one of its officers has controlling shares in the Paris newspaper Le Temps, the counterpart of The New York Times, and the Journal des Debats, which corresponds to the New York Herald Tribune. These two powerful papers constantly warn their readers of the "danger of disarmament" and ofthe menace of Germany. Thus M. Schneider is in a position to pull two strings, one linked to Hitler and German militarism, the other tied to the French press and French militarism.
  8. True, I was one of the ones that was made redundant from my old job, it's only now that I can see that in some respects I was lucky because if I'd been kept on I would now be around £6-7,000 a year worse off as I'd only be working a 4 day week.
  9. Given that most people only work 37.5 hrs a week I don't see this is a big deal considering a large number of companies (including my old company apparently) have put their workforce on 4 day weeks.
  10. I bet the Italians are rubbing their hands together- a big chunk of debt paid off in one fell swoop by a government stooges that actually paid their keep for once. And what does Gordon give us - more bloody Equality Officers and other non-jobs.
  11. Just to reiterate what has been said. I found myself in a similar position at the start of this year and have savings above the £16k threshold. Because I had made contributions for more than 2 years with no break in employment I was able to claim Contributions based JSA. Anyone can claim this for up to 6 months - it's only £64.50 a week, but it's better than nothing. Even my dopy advisor at the JSA was able to give me correct advice for what I could claim even if I did have to reach across the desk to type some numbers in for him as he was apparently totally innumerate. It's not nice going to the JC - and luckily I am now back in work - but your friend's not alone and there will be plenty more in her place over the next couple of years unfortunately.
  12. I feel very sorry for anyone who loses their job, many of these people won't be those on huge salaries they will be people at the lower end of the salary scale. One thing that does puzzle me though is why Lawyers and Doctors still consider their A' Levels to be the greatest achievement of their life. ........And why do you have to be a mason to become a judge?
  13. Like you I am surprised that no one in the media seems to have pointed out that Viglen have just been awarded a £30 million contract with the NHS as Sir Alan's new project for his apprentice is putting screens into NHS premises. There's always been links between those awarded contracts in business and the politicians they know, but most people at least try to be a little discreet.
  14. 'The eye of the storm means the worst is behind us' says a slim margin of optimistic meteorologists!
  15. It just goes to show how out of kilter the bank base rate is. IRs are supposed to represent the risk of lending money, unfortunately the bank base rate is so low now that the risk massively outweighs the reward so banks aren't lending in many areas. The fact that IRs on credit cards are rising goes to show the level of perceived risk and by proxy, the level of current defaults.
  16. A good part of the reason is that barrels of oil are priced in US dollars, a currency whose supply is increasing as fast as foreigners are losing faith in it.
  17. There's plenty of money around still, it's just that ITV has developed an unsustainable business model based only on advertising. If it actually made its own programmes like in the old days, it could be enjoying the kind of profits that it allows Simon Cowell and other purveyors of TV crap catering for Britain's lowest common denominator to earn!
  18. Looks like my prediction of a couple of years ago about the wheels falling off the Labour machine in June 2009 is looking like it may com true. I tend to believe in economic and political cycles and had placed this month as being the most likely point in time for a recurrence of 1931 (see my signature for details).
  19. If Keynes were alive today he would ask "Why did you not just use an excel spreadsheet?"
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