The World According To Daily Mail Readers
A DAILY Mail reader explains the cutent economic downturn:
Britain has been wecked by the Marxist persons within government and local Councils INCLUDING the NHS. Marxist want to rule every moment of the citizenrys life,craddle to grave. That way the Marxist will always be in power and have a “brainwashed” society. This to my mind is proven by the “unhealthy” interest in Soccer, loosely akin to the ancient antics of ROME.
Give the people murder and mayhem, plus BEER, to keep ‘em content, then “they” (The populace) will not bother with politics and we the government can rule in peace, with no hope of a government change. Keeping the peoples mind occupied in the trivia (Just look at the crap that is shown on TV!) and WE the government can do as we like. Bring back common sense, PLEASE.
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Posted: 12th, October 2008 | In: Media, Tabloids, Twitterings Comments (5) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
Comments
October 12th, 2008 at 5:18 pm
Val,
Some banks have been trading on a 30:1 debt/capital ratio, which, in English means that for every $1 billion in share capital they would borrow, and lend, $30 billion.
But if you really want to be really scared then consider the totally unregulated credit defaults swaps market, which is what took down the largest insurance company in the world, AIG.
The credit default swaps on Lehman Brothers were unwound on Friday, and the auction to determine the size of the settlement set a value of 8.625 cents on the dollar for the debt. According to Bloomberg more than 350 banks and investors were involved, and nobody really knows who is going to get shafted. One estimate is that the auction may lead to payments of more than $270 billion.
Or not. There may be banks and investors who will go broke as a result, and we won’t know until the settlement date…
October 12th, 2008 at 4:56 pm
On Sky News today, Angela Somebody a Banker”s Rep was glossing over everything
but the guy from the Economist shot her down in flames.
I know we have the 12 year Trade Cycle but he says the events that caused this meltdown are not the same.
Too much lending by Banks, too little notice of what was going on by the FSA and the
U.S. equivalent and the growth of Hedge Funds and Derivatives unprecedented.
Some Banks have apparently lent more than their Assets!!!!
October 12th, 2008 at 4:39 pm
Not all Capitalists are greedy slimeballs, Val, implausible as that may seem at the moment.
The particular form of extreme capitalism we have been living with since Thatcher is having an excellent shot at putting us back to what people went through in the Great Depression, but it doesn’t have to be like that….
October 12th, 2008 at 4:26 pm
I”d rather execute the Bank Chairman who just awarded himself a $5,000.000.00
Salary!!!!!!!!
There is no shame among the greedy people , they are not Marxist, just Capitalists.
October 12th, 2008 at 3:14 pm
Quite right too; the sooner we ferret out and execute the Marxists in the Financial Markets the sooner we will once more rule the world…