Wednesday, October 8, 2008

at last some honesty

Emergency rate cut: 'This better work'

"This better work. This is the last chance," said Saut. And Derrick said that if the markets don't respond well to the rate cuts, it may prove that the only solution for the crisis is time...a truly scary thought. "There is fear of the unknown. Earnings are not going to be good. It's hard to see another positive catalyst in the short-term," he said.

Posted by mark @ 05:20 PM (1084 views)
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35 thoughts on “at last some honesty

  • The markets have not responded positively so far, hence part of the solution for this crisis is indeed time.

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  • I expect we’ll have a different blubbermint by Christmas….

    ……”My good friends, for the second time in our history, a British Prime Minister has returned from Germany bringing peace with honour. I believe it is peace for our time.”

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  • I just don’t see what this can do. I am confused as to the overall effect. On the positive side it has to be passed on across the board by all banks,to aid business,relieve mortgages and encourage fluidity. Will this happen? II suppose it ‘looks’ good that they’ve all done this together.
    On the negative side, all deposits fall behind inflation.
    There is a mininum of lending. Surely there is no more leverage left.
    Which currencies will gain and which will lose? Does this avoid currency fluctuations?
    The Stock Markets don’t seem to be encouraged at all and they are the best guide for me.

    Need the technical people to explain the mechanics please! I’m lost.

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  • Plato..

    In my opinion the damage has been done. The money has gone and the debt mountain as only decreased minimally.

    I also think that some of the recent stock market falls have been down the the BANKS (again) selling their stocks to get some money back in before they go t!ts up.

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  • smoke and mirrors obscuring the magicians behind the curtain

    wealth extraction by pantomime

    slavery by deceit and deception

    discusss the detail in depth

    ignore the obvious

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  • The bankers made no secret of their earnings. Bank HR departments would tell a job applicant that there were good rewards for working long, creatively & hard. They did. Nobody pretended it was a charitable industry.

    The politicians devised the banking framework. The NuLabourites had 11 years to fix any problem caused by “the previous government”. The regulators were tasked by Nu Labour to oversee the banks.

    It wasn’t done.

    Now the politicians should go – please take the regulators with you…!!

    Go soon.

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  • matt_the_hat says:

    This is how I see it (no expert so please correct at Will):

    1, Re-capitalization: long term finance to cover short term positions – no new lending.
    2, Increase in money supply: inflation, devaluation of currency, more strikes at pay and real prices diverge – working class real wages go down – bankers gain more assets
    3, Another dodgy economy goes bust.

    new week new crisis – loop 1:3 again

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  • nooneo……

    Thanks for the input. You Know I think everyone’s Knackered today’ It’s like being in a jet losing compression and heading south at high speed. As for our economy : The lunatics are running the asylum.

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  • matt…….

    Yes that’s all I can see…………. so must be intentional.

    Which brings me to malct…….. of course I know you are right,but you are ahead of your time even though history is being repeated.
    Lonely world isn’t it!

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  • plato @ 7.05

    of course I know you are right,but you are ahead of your time even though history is being repeated. very very true always been my problem, keeps happening. Wish more people could see the giants in front of little old me.

    Lonely world isn’t it! – very very true, I am very very lonely.
    sad old git even

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  • malct…….

    not so lonely……… look at all the invisible friends you’ve made on this site………. and to think it all started with house prices……… also you are very young in the bigger picture and when an idea is born,is it not very lonely like its thinker who is no older than his idea.

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  • Where is s2r1 when you need a laugh?

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  • 12. dave said…
    Where is s2r1 when you need a laugh?

    Wednesday, October 8, 2008 07:36PM

    ———————————————
    and p4ac – ivmreader – gardennetting

    —————————————–

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  • plato – I’m not an academic – but I will try to decode your kind utterance before my grandchildren stand over my grave

    sorry that was my sad attempt at humour

    I should go now

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  • gardeniadotnet says:

    I’m your friend, malct.

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  • rotten tomato says:

    @Plato in 1

    After hearing the concerted move by the central banks I thought: here we go, saving their friends and colleagues, while screwing the public. And as if I needed any proof, the news at 8:00 p.m. confirmed that the Euribor rate was still the higest at 5,39%

    My neighbours are getting screwed by their home loan… but am I in a similar boat now that I quit my old job? Only time will tell…

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  • malct…….
    you made me laugh, nothing sad about that. btw when you decode it,tell me what it means.
    Back on subject :
    Don’t think this will work.

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  • gardeniadotnet says:

    >Don’t think this will work.

    I agree. Talking head on CNBC today incredulous about people closing accounts with as little as $2000 in them.
    Beginning of the end.

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  • rotten t…………

    My younger son quit his very good job about 3 months ago against my advice. However he had sold his house last year and is renting. Actually I’m beginning to think you are actually better off with nothing. Everyones ‘wealth’ is being relentlessly eroded and anyone in mortgage debt is creeping toward a hopeless position as far as ever paying that debt.
    They can believe it is circumstance or they can believe it is deliberate. I wonder how many will think in which direction.
    Unfortunately ‘thinking’ is not really encouraged in our society.

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  • garden……….

    when I return to England next sunner (that’s if I can get hold of my money) I will maybe grow some veg. They give me the oxygen I need to think and the food I need to move,to put it simply…………. and of course rents will be very cheap.

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  • nooneo………. great!!!

    How come the truth is so humourus ? He added: “In case you hadn’t already worked it out – the entire global financial system is predicated on the assumption that you’re an idiot.”

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  • gardeniadotnet says:

    plato…They give me the oxygen I need to think..

    Interesting. I have a number of greenhouses, and I have often thought there to be a correlation between the density of the planting and the level of concentration I can sustain.

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  • gardeniadotnet says:

    Humour is something that thrives between man’s aspirations and his limitations. There is more logic in humour than in anything else. Because, you see, humour is truth.
    Victor Borge

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  • “Be thankful we’re not getting all the government we’re paying for.” – Will Rogers

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  • “A rut is a grave with the ends knocked out.” – Laurence J. Pete

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  • “All I ask is the chance to prove that money can’t make me happy.” – Spike Milligan.

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  • “…sure, IN theeoory… In theory communism works…” – Homer Simpson

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  • “It’s always funny until someone gets hurt. Then it’s just hilarious.” – Bill Hicks

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  • gardeniadotnet says:

    All truth passes through three stages: First, it is ridiculed; Second it is violently opposed; and Third, it is accepted as self-evident.
    Arthur Schopenhauer

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  • larry pickleman says:

    “I’d love to make up a good quote, but I can’t at the moment”

    Larry Pickleman

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  • garden

    you must be in one of your densely planted greenhouses(with the lights on. See I know about photosynthesis) How else can you think so clearly?

    Plants people —– your life is in their wellbeing!

    Must retire now.

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  • gardeniadotnet says:

    Thank you, plato.
    Good night.

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  • “Sometimes one pays most for the things one gets for nothing” Albert Einstein

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  • gardeniadotnet says:

    @handle_it

    Wonder what Uncle Albert was referring to?
    Love?

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