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Laura

The End Is Nig(H) - Cgnao Was Right.

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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.
"The sovereign-debt crisis spun out of control in the past week, and we see no easy way to resolve it," said Madeline Schnapp, director of macroeconomic research at TrimTabs Investment Research.

it is now more expensive to buy insurance against national default than it is to insure against corporate failure.

Some investors and analysts are increasingly concerned that governments may be no more capable of repaying their debts than the banks and insurance companies they saved. And, they warn, if a major country comes close to default, it could trigger a financial meltdown that would eclipse the panic that followed the bankruptcy of Lehman Brothers in 2008.

"Looking beyond the immediate crisis in Europe, I am particularly worried about the next stage involving the U.S., the U.K. and Japan," Xerion's Arbess said.

"Most lenders realize that once growth disappears, there's little reason to lend more,"
"First excessively indebted households passed part of their debt back to their creditors - the banks. Then the banks, excessively leveraged and at risk of default, passed part of their debt to the sovereign," he explained. "Finally, the now overly indebted sovereign is passing the debt back to the households, through higher taxes, lower public spending, the risk of default or the threat of monetization and inflation."

As investors and government officials ponder the current state of affairs, they see ominous signs that the developed world may be facing a similarly bleak future.

Snips from http://www.marketwatch.com/story/the-second-debt-storm-hits-nations-2010-05-14

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Oh, make it after 11.00

Mike

Oh do make up your minds, I'd already pencilled in TMT's request! :rolleyes:

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11.00 would be better for me also - just finished my bacon and eggs so I am on a late timetable this week.

Interestingly, George Osbourne was talking about this this morning in his speech. Amazed the Meeja have not picked up on it more.

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11.00 would be better for me also - just finished my bacon and eggs so I am on a late timetable this week.

Interestingly, George Osbourne was talking about this this morning in his speech. Amazed the Meeja have not picked up on it more.

Why on earth was G.O. focussing on your breakfast in these troubled times? :unsure:

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I don't know. I just get the feeling it's not going to happen for a couple of years.

2 YEARS!!!

we'll be luck to get 2 months according to cgnao: [i am in panic mode]

Every bailout now makes the derivative beast bigger, hungrier and angrier.

They want to save the system, but they can't.

The final blowup is close. It will be epic, global and happen so fast it's going to burn the hair on your ass.

http://www.bloomberg.com/apps/news?pid=206...KaVcg&pos=4

May 17 (Bloomberg) -- Money markets are showing rising levels of mistrust between Europe’s banks on concern an almost $1 trillion bailout package won’t prevent a sovereign debt default that might trigger a breakup of the euro.

http://www.greenenergyinvestors.com/index.php?showtopic=3285&st=3060&start=3060

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nothing is going to happen except the people are going to get burned.

some banks are gonna fail.

there are thousands of banks.

some dont even borrow on the markets to stay afloat.

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nothing is going to happen except the people are going to get burned.

Those who are on top have the furthest to fall and therefore the most to fear.

Common people will always survive, they are used to it.

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I don't know. I just get the feeling it's not going to happen for a couple of years.

We are at final capitluation phase.

Check the ex-cynics on the site, enthusing about Cameron and Clegg and that sort of thing. "We are all saved life can carry on as normal" fantasies left, right and centre.

The maths don't lie and there is no plan to sort this mess out that work politically, socially and economically. So they are making a show of having a plan to buy time. When that runs out, the fun starts again and won't stop.

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I don't know. I just get the feeling it's not going to happen for a couple of years.

The Mayan 'event' right at the start of the 2012 Olympic event?

Where else but mighty Britain :)

No flights. No Greeks. No oil. No Coleman balls :( - No nuffin?

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The Mayan 'event' right at the start of the 2012 Olympic event?

Where else but mighty Britain :)

No flights. No Greeks. No oil. No Coleman balls :( - No nuffin?

I heard that for reasons of health and saftey, the olympic torch this time will be LED.

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Urgh.... just had estate agent on the phone. We have made it known we would buy our rented house. Surprisingly now landlord prepared to sell to crystalise gain.

So far so good. Except he wants peak price. No more than that. I told agent I was not born yesterday and he correctly pointed out that lots of houses gone recently including one down road (that has been for sale for OVER 2 YEARS) for peak price. Anyway agent tells me I have totally missed boat prices going up. Clearly we'd rather just carry on renting, although if CGT change is not until April 2011 he might try and sell. I offered to buy if before budget for what I consider a good price, but he (landlord and agent) think its worth much more)

So interesting to come and here and see end is high. But I think there are different versions of reality here....

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Since the UK's debt levels are substantially lower than after the Napoleon and Hitler things and interests rates are lower than normal (right?) and the UK can print money to pay it's debt and the pension funds and insurance companies that buy its debt need the UK because that is their core market and since it seems to be taking its budget deficit seriously, why should the UK go bust?

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So interesting to come and here and see end is high. But I think there are different versions of reality here....

This site probably needs a disclaimer displayed "You are now in the HPC reality twilight zone"

No one knows for sure what's coming, but all the same.... :D

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Since the UK's debt levels are substantially lower than after the Napoleon and Hitler things and interests rates are lower than normal (right?) and the UK can print money to pay it's debt and the pension funds and insurance companies that buy its debt need the UK because that is their core market and since it seems to be taking its budget deficit seriously, why should the UK go bust?

What was the size of the state back then?

And existing tax levels?

How far had the currency been devalued back then?

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Since the UK's debt levels are substantially lower than after the Napoleon and Hitler things and interests rates are lower than normal (right?) and the UK can print money to pay it's debt and the pension funds and insurance companies that buy its ds mena ebt need the UK because that is their core market and since it seems to be taking its budget deficit seriously, why should the UK go bust?

A "sudden stop" event is not supposed to happen.

If it does, then who is going to be ABLE to buy bonds, let alone buy them for a few days and sell them to the Central banks.

And why would they bother? the money is getting worthless as they sit on it.

Low rate mean that money is more or less valueless in reality. If something is worth having, its worth something to have it.

Rates have to rise...bankers need to be defaulted.

its the only way.

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What was the size of the state back then?

And existing tax levels?

all a good deal smaller.

How far had the currency been devalued back then?

the currency was devalued after 1931 in the UK.

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Those who are on top have the furthest to fall and therefore the most to fear.

Common people will always survive, they are used to it.

Actually in this case the common people are about to get dumped on from a great height.

The bank bailouts bailed out the rich.

The repayment of the money used for the bailouts will be done by the poor.

This is the unavoidable result of unbridled capitalism.

Only revolution and a switch to a system run a benign dictator can prevent it.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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