With the state of the banks what is going to happen with our country?
We have got rid of all our manufacturing industry, our only strength left in the world is the square mile.
If our Banking and stock markets collapse, what future in the world will we have left?
I think things look very bleak for the future for our children.
There hasn’t been job security for a while now, as there once was was.
How can we get out of the dire situation we now see ourselves in?
This credit nation is now falling to its knees.
We cant I believe just blame this government surely we could see the mistakes of past governments to.
Is there really a way out?
There doesn’t seem to be anyone strong enough that I can see around to get us out of the shit we are now in.
There's always the option of going back to the old Mattress Savings Plan. :twisted:
In the first World War, a German Field Marshall described British troops as;
"Lions led by Donkeys"
Think it is a fate of our nation that those words apply to the whole of the British people rather than just British troops.
John
We need compasssion, humour, mutual respect and love.
But, are we really in the shit? or is this media hype?
I was talking to someone the other day who said it's 'glorified media scaremongery'.
To be honest, I'm not sure what's happening, or what's going to happen, all I know is that my family and I are secure at this moment in timeand healthy.
Recent banking trouble wouldn't have been caused if the traders hadn't been short selling~~~ they are the ones that brought the recent bank to its knees, that now has been outlawed for now.
Nah it's just part of the normal (and constantly repeating) lifecycle of economies based on the capital. It seems to be that everyone goes through one (or more) of them in their lifetime.
In my opinion, we just shouldn't panic, things will go back to normal soon. The capitalistic powers will not really allow to happen anything that harms them majorly
The really scary problem is not the mortgage market. After all the property still exists and payments of some sort will continue to be received for it. That's not to say there won't be losses of course.
As I understand it the nightmare is the derivative market. Basically commodity merchants and financial institutions bet both ways on whether the price or value of something will go up or down so they (think) they can't make a loss. They took great care to persuade compliant politicians in the 80's to relax regulations to allow them to play this game.
The value of this derivative market is greater than the whole world economy!
Basically they have been gambling on credit and doubling or quit. And no, I don't know the answer.
For a basis intro with what has gone wrong in the banking system read this!
I found it funny but hits the nail on the head!