Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: nextrade! who wrote (230750)	11/28/2009 7:00:53 PM
From: nextrade!	Respond to of 306849

Is the Double-Dip Depression Here? lewrockwell.com

To: nextrade! who wrote (230750)	11/29/2009 2:07:36 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 306849

from the link you posted Re: Britain going bust. The news is potentially so bad that politicians simply don't want the general public to know what's going on. Given the scale of the crisis, what then do they propose? New Labour is non-committal, suggesting that cuts will be prudent, thoughtful and spare people's worst pain. The Conservatives have targeted around £7billion of spending cuts, but these won't happen immediately and are nothing like enough to rebalance the nation's books. Besides, one minute the Tories are preaching 'austerity', warning that savage cuts are needed, the next David Cameron is telling the City that 'our strategy has to be for growth, both now and in the long term'. Such posturing, flip-flopping and vague promises are truly worrying. For, make no mistake, we could be teetering on the brink of a truly epic national crisis - one that makes the financial hardship of the past 18 months seem like a mere inconvenience. For the past few years, Hollywood disaster movies have shown the world under attack by aliens or being destroyed by global warming. We have all thrilled to images of the White House being taken out by a giant laser beam or Big Ben frozen in an Ice Age snow drift. Politicians don't want the public to know what's going on A disaster movie involving countries going bust doesn't quite have the same dramatic appeal, but it would be every bit as deadly as a tsunami hitting London - and we have precious little left to defend us. We've already had one big shock to Britain's financial system as many of our best-known banks teetered on the brink. The Treasury spent hundreds of billions of taxpayers' pounds trying to steady the ship. The financial cupboard is now bare. So what could cause the second wave of the disaster? In three words - a sterling crisis. So far, containment of the crisis has focused on rescuing the banks and pumping more money into the system through the crazy Zimbabwe-esque expedient of 'quantitative easing' - effectively flooding the banking system with more cash. This has cost hundreds of billions of pounds, all of which needs to be repaid if we are to avoid rampant inflation. That means borrowing more money from the international money markets. But there is a problem. Until recently it was unthinkable that a sovereign nation couldn't service its debts. And yet this is exactly what's just happened with Dubai. Alistair Darling defended the government's decision to keep the loans a secret Alistair Darling helped conceal £62bn of emergency loans to UK banks If international lenders begin to doubt the creditworthiness of UK plc, they will downgrade our credit rating and dramatically increase the rates of interest they charge. UK banks will have to follow suit to match these rates, putting unsustainable pressure on our struggling economy. Read more: dailymail.co.uk; politicians in their urge to satisfy their need for power (more simply said, the aching desire to continuously be telling people WHAT TO DO BECAUSE THEY KNOW BEST), they promise all kinds of impossible things to the electorate, who as we know, are stupid enough to believe them, or (in the case of the obama election), even stupider to think that to oust the previous moron, they elect and even larger one... clearly, neither of the available morons are fit enough to do the honest and logical thing.... so... PERHAPS.... financial armageddon, in a world wide scale is the ONLY solution LEFT that would in time (who knows how long) to solve the problems we face and create a system that would be 'better' because continuing to rob producer paul, to cover the needs of dead-beat mongo is not working..... and that includes stop funding climatolocologists just because they cook up a theory based in fear of the unknown (and possibly, not capable of knowing), funded by yet, another kook with world-wide power grabbing aspirations.... let it rip, and see where the marbles fall...