0q0 Posted January 19, 2009 Share Posted January 19, 2009 Perhaps a bit rich from a newspaper that kept cheerleading house prices going up. But anyway. I am noting more and more news reporters and news scripts alluding to the danger of the UK bankrupting itself. I think many news journos are quite disturbed by what they're seeing and contrasting that with the fact the public are in many cases blissfully unaware. The mood is changing to one of challenging the government and looking for a saviour. Will the Tories and/or LibDems have any better solutions? Maybe, maybe not. But I think Labour should clear their desks now, this is one hell of a mess, they are exhausted from trying to resolve it, and whether or not their plans are good or bad (I suspect the latter) they should make way for new hands on deck. This is a huge lesson to all governments and regulators that an ounce of prevention is worth a pound of cure (for our metric readers, make that a gram of prevention is worth a kilo of cure or repair). Frankly, I am quite worried about what's happening, this has the feel of a wall coming down on us. I hope I'm just being over pessimistic, but right now it looks like the whole thing's out of control (big clue is the vagueness of the rescue detail). Quote Link to comment Share on other sites More sharing options...
Namaste Posted January 19, 2009 Share Posted January 19, 2009 Front Pages courtesy of Sky News: http://video.news.sky.com/skynews/Home/UK-...uary_20%2C_2009 Quote Link to comment Share on other sites More sharing options...
sbn Posted January 20, 2009 Share Posted January 20, 2009 Perhaps a bit rich from a newspaper that kept cheerleading house prices going up.But anyway. I am noting more and more news reporters and news scripts alluding to the danger of the UK bankrupting itself. I think many news journos are quite disturbed by what they're seeing and contrasting that with the fact the public are in many cases blissfully unaware. The mood is changing to one of challenging the government and looking for a saviour. Will the Tories and/or LibDems have any better solutions? Maybe, maybe not. But I think Labour should clear their desks now, this is one hell of a mess, they are exhausted from trying to resolve it, and whether or not their plans are good or bad (I suspect the latter) they should make way for new hands on deck. This is a huge lesson to all governments and regulators that an ounce of prevention is worth a pound of cure (for our metric readers, make that a gram of prevention is worth a kilo of cure or repair). Frankly, I am quite worried about what's happening, this has the feel of a wall coming down on us. I hope I'm just being over pessimistic, but right now it looks like the whole thing's out of control (big clue is the vagueness of the rescue detail). They should think VERY carefully before mocking the government. Quote Link to comment Share on other sites More sharing options...
laurejon Posted January 20, 2009 Share Posted January 20, 2009 You are right to be worried. The whole mess if you look around the net, came about due to Globalisation. The banks left hand didnt have a clue what the right hand was doing. Brown describes it as faulty framework, yet it was he who broke the framework and destroyed the institutions the governed banks. Brown gave himself much credit in announcing several years ago the stupidity of regulation on banks, and how he had removed them!!!!. All Humans make mistakes, its a natural learning process. But recognising your mistakes and correcting them is another basic human process. Listen to all of Browns speeches, they all contain the word Globalisation, and "We must continue with Globalisation" I am afraid he is a madman, and I dont think anyone would disagree!!!!. There is absolutely no plan, no forecast, nothing at all other than continue down the road that took us here in the first place. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted January 20, 2009 Share Posted January 20, 2009 Worth posting an Express front page for once: Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted January 20, 2009 Share Posted January 20, 2009 Someone here had a picture just like that Laurel and Hardy one ages ago. Quote Link to comment Share on other sites More sharing options...
laurejon Posted January 20, 2009 Share Posted January 20, 2009 Quote Link to comment Share on other sites More sharing options...
deadman Posted January 20, 2009 Share Posted January 20, 2009 I loathe that paper just as much as I do labour. Quote Link to comment Share on other sites More sharing options...
0q0 Posted January 20, 2009 Author Share Posted January 20, 2009 Front Pages courtesy of Sky News:http://video.news.sky.com/skynews/Home/UK-...uary_20%2C_2009 Thanks. You are right to be worried.The whole mess if you look around the net, came about due to Globalisation. The banks left hand didnt have a clue what the right hand was doing. Brown describes it as faulty framework, yet it was he who broke the framework and destroyed the institutions the governed banks. Brown gave himself much credit in announcing several years ago the stupidity of regulation on banks, and how he had removed them!!!!. All Humans make mistakes, its a natural learning process. But recognising your mistakes and correcting them is another basic human process. Listen to all of Browns speeches, they all contain the word Globalisation, and "We must continue with Globalisation" I am afraid he is a madman, and I dont think anyone would disagree!!!!. There is absolutely no plan, no forecast, nothing at all other than continue down the road that took us here in the first place. Yes this seems to be the sad reality - as people have said in comments on Peston's blog, what madness it is to try to escape a debt crisis by getting into yet more debt. It is the economics of a gambler who doesn't even know how much he's staked and lost, and borrows more from his long-suffering partner to try to win it back. Hopeless. IRs need to rise to stabilise the £ IRs need to rise to bring investment back to the UK - loads left last year due to the poor economy and low IRs The pain of higher IRs will be the lesser of the evils Those who borrowed recklessly and lied on applications need to crash and burn - sorry but they do There is no escape from the cycle - to bankrupt the country to try to escape or mitigate the cycle should not be an option - better 100,000 repos than that! Quote Link to comment Share on other sites More sharing options...
0q0 Posted January 20, 2009 Author Share Posted January 20, 2009 What's the ICELAND ON THAMES story mentioned? Just guessing, not Docklands or Canary Wharf banks being likened to Iceland's banks is it? Good grief, I hope not. Does everyone remember when the Iceland banks and pundits were saying how great and secure Iceland's banks were? Scary. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted January 20, 2009 Share Posted January 20, 2009 Front Pages courtesy of Sky News:http://video.news.sky.com/skynews/Home/UK-...uary_20%2C_2009 I see Dacre has given his mate Brown a friendly headline - "Free drugs for cancer victms" WTF - Why just recycle some New Labour spin on a day like today? I don't know how the Mail journalists can stand working for Dacre. Quote Link to comment Share on other sites More sharing options...
laurejon Posted January 20, 2009 Share Posted January 20, 2009 What's the ICELAND ON THAMES story mentioned? Just guessing, not Docklands or Canary Wharf banks being likened to Iceland's banks is it? Good grief, I hope not. Does everyone remember when the Iceland banks and pundits were saying how great and secure Iceland's banks were? Scary. I can remember last year a few STR'ers laughing at me when I said Iceland was dodgy as they had put their STR fund in there. Icleand was pretty obviously going to go under. They were paying three times what any other bank paid in interest. The Icesave accounts reminded me of the last recession when furniture retailers offered Sofas and Furniture for knockdown prices one weekend, too millions of pounds as deposits then filed for bankruptcy on the Monday. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted January 20, 2009 Share Posted January 20, 2009 There will be more of these pictures. Oh! Quote Link to comment Share on other sites More sharing options...
0q0 Posted January 20, 2009 Author Share Posted January 20, 2009 I can remember last year a few STR'ers laughing at me when I said Iceland was dodgy as they had put their STR fund in there.Icleand was pretty obviously going to go under. They were paying three times what any other bank paid in interest. The Icesave accounts reminded me of the last recession when furniture retailers offered Sofas and Furniture for knockdown prices one weekend, too millions of pounds as deposits then filed for bankruptcy on the Monday. My old neighbour's mum bought a leather sofa at one such place back then - in cash - she lost £600. Quote Link to comment Share on other sites More sharing options...
0q0 Posted January 20, 2009 Author Share Posted January 20, 2009 There will be more of these pictures.Oh! LOL a classic, funny but actually scary at the same time, gulp. Quote Link to comment Share on other sites More sharing options...
GregG Posted January 20, 2009 Share Posted January 20, 2009 My old neighbour's mum bought a leather sofa at one such place back then - in cash - she lost £600. What I cannot understand is why any government official, judge or person working for the police or CPS wants some furniture spiv to be able to get away with that. Surely they should be able to chase and prosecute fraud like this in the strongest possible manner, inclusing seizure of the assets of the company directors. To do so would be a vote winner. Why does the system allowed this sort of fraudulent shit to go unpunished when it would be so easy to prosecture. Big business, banks and major corporates I can see may have corrupted them, but some mid size furniture place carrying out this sort of scam? How do the powers that be gain from this sort of thing? Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 20, 2009 Share Posted January 20, 2009 What I cannot understand is why any government official, judge or person working for the police or CPS wants some furniture spiv to be able to get away with that.Surely they should be able to chase and prosecute fraud like this in the strongest possible manner, inclusing seizure of the assets of the company directors. To do so would be a vote winner. Why does the system allowed this sort of fraudulent shit to go unpunished when it would be so easy to prosecture. Big business, banks and major corporates I can see may have corrupted them, but some mid size furniture place carrying out this sort of scam? How do the powers that be gain from this sort of thing? one can only wonder why they don't put these scum in jail !! Quote Link to comment Share on other sites More sharing options...
Dylan Posted January 20, 2009 Share Posted January 20, 2009 Time for a repost: Quote Link to comment Share on other sites More sharing options...
Badger Posted January 20, 2009 Share Posted January 20, 2009 Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted January 20, 2009 Share Posted January 20, 2009 The Express is 20p! Looks like they must be coming under a bit of pressure. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted January 20, 2009 Share Posted January 20, 2009 Darling and Brown killed Diana? I don't get it. Quote Link to comment Share on other sites More sharing options...
Guillotine Posted January 20, 2009 Share Posted January 20, 2009 I'd like to see that image pasted on every street in every town in the UK come election time. Hilarious. Quote Link to comment Share on other sites More sharing options...
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