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Realistbear

I M F Make U-turn: Crash Is Back On

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http://uk.biz.yahoo.com/12092009/325/econo...-imf-chief.html

Saturday September 12, 12:09 PM

Reuters

Economic crisis to continue - IMF chief

BERLIN (Reuters) - The global economic crisis will continue and countries must do more to adopt financial market regulations, International Monetary Fund Managing Director Dominique Strauss-Kahn told a German magazine on Saturday.

"The global economic crisis will continue, even if Germany and France had some good figures in the second quarter," Strauss-Kahn was quoted as saying in an advance copy of an article to be published in Der Spiegel on Sunday.

______________________________________

I have not yet been convinced that such a serious recession and the loss of $9TR could pass by without some consequences other than the shortest lived recession in recorded history. The "stimulus" worked--for awhile but its wearing off fast. Anyone notice the number of FOR SALE signs that popped up in the last week? There are lots.

Edited by Realistbear

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http://uk.biz.yahoo.com/12092009/325/econo...-imf-chief.html

Saturday September 12, 12:09 PM

Reuters

Economic crisis to continue - IMF chief

BERLIN (Reuters) - The global economic crisis will continue and countries must do more to adopt financial market regulations, International Monetary Fund Managing Director Dominique Strauss-Kahn told a German magazine on Saturday.

"The global economic crisis will continue, even if Germany and France had some good figures in the second quarter," Strauss-Kahn was quoted as saying in an advance copy of an article to be published in Der Spiegel on Sunday.

______________________________________

I have not yet been convinced that such a serious recession and the loss of $9TR could pass by without some consequences other than the shortest lived recession in recorded history. The "stimulus" worked--for awhile but its wearing off fast. Anyone notice the number of FOR SALE signs that popped up in the last week? There are lots.

nonsense, massive piles of toxic and never before known levels of debt are the way forward, you just can't lose when you owe more money than the whole galaxy combined, so i'm afraid i'm going to have to say...

realistbear to the re-education centre, realistbear to the re-education centre, please report to reception realistbear...

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Guest skullingtonjoe
nonsense, massive piles of toxic and never before known levels of debt are the way forward, you just can't lose when you owe more money than the whole galaxy combined, so i'm afraid i'm going to have to say...

realistbear to the re-education centre, realistbear to the re-education centre, please report to reception realistbear...

As they`d say in Ibiza - if you`re going to, then `GO LARGE` :rolleyes:

There is no point in having a poxy debt that you may be able to repay - get as much credit out as you can and max out. Push it to the absolute limit - and then find ways to push the envelope even further. Become so indebted that the figures you owe no longer have any meaning, and your creditors will be asking themselves `Why didn`t we see it coming?`

Declare yourself bankrupt then repeat the procedure in 6 years. The great thing about being in debt is that GorDarling still haven`t figured out a way to tax it! Happy days! :lol:

It is an oft-repeated mantra by banksters that they are not a social service; I beg to differ :blink:

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RB

Just finish putting a few new Work tops for my 80 year father, i walked to the local shop to get us a Coke each having done a great job.........I walked the same road on & off since 1976......there are 8 houses for sale...i can never recall so many!

Many others are on LET (Bugger) to ANYONE ........the final crash can't come soon enough.

Mike

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nonsense, massive piles of toxic and never before known levels of debt are the way forward, you just can't lose when you owe more money than the whole galaxy combined, so i'm afraid i'm going to have to say...

realistbear to the re-education centre, realistbear to the re-education centre, please report to reception realistbear...

Yes debt is wealth.

Toxic debt makes you incredibly wealthy.

However it appears that someone needs to put a call into the OECD who have just declared the global recession over.

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http://www.cnbc.com/id/32668728

The global recession is coming to an end faster than thought just a few months ago and may already be over, according to forecasts published by the Organization for Economic Co-operation and Development on Thursday.

The recovery may even prove a little stronger than previously predicted, OECD chief economist Jorgen Elmeskov told Reuters in an interview where he elaborated on the forecasts for several key economies.

"Compared with expectations a few months ago, we now have a recovery which ... may be coming a little earlier and it may be slightly stronger because financial conditions have improved more rapidly than we assumed a few months ago," Elmeskov said.

The OECD forecasts show a third-quarter return to expansion of economic output, as measured by gross domestic product, in the United States and the 16-country euro zone, led by its two largest economies, Germany and France.

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As they`d say in Ibiza - if you`re going to, then `GO LARGE` :rolleyes:

There is no point in having a poxy debt that you may be able to repay - get as much credit out as you can and max out. Push it to the absolute limit - and then find ways to push the envelope even further. Become so indebted that the figures you owe no longer have any meaning, and your creditors will be asking themselves `Why didn`t we see it coming?`

Not forgetting the adage “If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.â€

I do seriously wonder what it will take for all the thousands of people with debt (that cannot pay down) to realise that they could just write it off. Maybe if house prices fall properly next year people will just stop paying their mortgages and then banks will realise that £1.2tr of debt really is their problem. Of course it might end up as the govt problem, and then through tax-payer funding it becomes my problem. :(

QB

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Counted 14 tankers parked off Suffolk coast today...all high in the water...excess capacity I suppose.

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Not forgetting the adage “If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.â€

I do seriously wonder what it will take for all the thousands of people with debt (that cannot pay down) to realise that they could just write it off. Maybe if house prices fall properly next year people will just stop paying their mortgages and then banks will realise that £1.2tr of debt really is their problem. Of course it might end up as the govt problem, and then through tax-payer funding it becomes my problem. :(

QB

my, oh my, the Courts WILL be busy in your scenario.

while the debtor is solvent, the debt is still an asset.

If bankrupt, they have the pledged asset.....and they wont be buying them through shell companies if there are a lot of them.

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