Credit Crunch: Art Booms, Shoppers Go Hell For Leather And Gloom
CREDIT CRUNCH WATCH – Anorak’s look at mentions of credit crunch in the news
DAILY TELEGRAPH: “Shoppers defy the credit crunch in sales chase”
A “stampede” in London’s Oxford Street. “However, retail experts said the bumper trading day - combined with the surprisingly buoyant few days before Christmas - would not be enough to stave off falling profits and even a raft of bankruptcies on the high street in the wake of the credit crunch”
SKY NEWS: “The Bank of England cut the cost of borrowing by 0.25% to 5.5% earlier this month, in an attempt to help shore up the economy in the wake of the global credit crunch”
DORSET ECHO: “FORGET the credit crunch - after just one day off, shoppers in Bournemouth hit the sales on Boxing Day to hand retailers a welcome post-Christmas bonus”
DAILY MAIL: “No end in sight to credit crunch - Any notion that the credit crunch will ease in the New Year was firmly dispelled by a double whammy of bleak news from across the Atlantic”
THE GUARDIAN: “The European economy is managing to stave off the impact of financial market turbulence, European Central Bank Governing Council member Guy Quaden was quoted as saying on Thursday. ‘The danger of a drying up of credit for the broader economy, the infamous credit crunch that some referred to at the start of the crisis, has not materialised’”
NISSAN Press Release: “Whether it’s coping with the credit crunch or the crunch of snow beneath your feet, Nissan has a range of deals to warm the cockles of your heart this winter”
DETROIT FREE PRESS: “What credit crisis? Art market booms”
CHANNEL 4: “Sales fever lifts credit crunch gloom - Scuffles broke out as sales fever began early at some stores before dawn, as the post-Christmas sales continue”
DAILY EXPRESS: “With the run-up to Christmas generally perceived as slow, many chains opened on Boxing Day hoping to attract shoppers amid signs of economic slowdown fuelled by the Northern Rock crisis and the global credit crunch. Despite growing fears in the City about the economy, the concerns are yet to filter down to consumers, with more than half saying they remain confident about their personal finances, a new poll revealed”
Pic: Via
January 8th, 2008 at 3:57 pm
Here are some facts that you will not find in the media:
1. In the private bankers debt-based money system that we are made to use, 97% of our money is created as computer ledger entries by private commercial banks when we take out loans and mortgages. It has no tangible existence outside the banks computer systems because we withdraw hardly any of it in the form of Government created cash. This system is replicated in virtually every developed country, the world over.
2. No borrowing in the system would mean no money.
3. Obviously there will not be enough money to pay the interest as the interest has to come from the same source. So national and personal debt rises and the overall interest due also rises with time. This is the real reason why we are told the economy always has to grow. Present UK government debt mostly to the private banks is £0.5 Trillion, up from £90 Bn in 1980 and £26 Bn in 1960.
3. For government, taxing the people helps pay the interest bill and that is why overall taxation is always rising. Much of our taxes go straight into the pockets of the super-rich international bankers to pay the interest on the “money” (data) they have lent and created out of thin air.
4. Banks are allowed to create money OUT OF NOTHING at virtually Nil cost to them and charge all borrowing individuals, businesses and governments interest on it. This is because it only circulates as data between banks’ computers and not as cash which they would have to pay the government for. This freely created intangible data “money” circulates when you get paid by bank computer transfer or when you use your cards, direct debits, cheques etc. Look into “fractional reserve banking.” Google “electronic money creation”, “webofdebt”, “prosperityUK”.
I know its hard to get your mind round when none of our corporate media talks about it, hardly any MPs know about it and it goes against everything you’ve assumed or been taught. 99.99% of people assume that banks & building societies lend out money that their other customers have deposited. We demand of our government a fairer money system. Money creation must be taken out of the hands of the money masters and into the hands of the people, “where it properly belongs.” (Abraham Lincoln)
Google “Money as Debt” to watch a 50 minute animated film. Then act.
April 28th, 2008 at 2:40 am
This credit crunch is just a modern day “Millenium Bug”
The fact is echonomic growth has always taken place even boomed for certain individuals who look for opportunity in negative times and not just focus on the bad that life can offer.
We must look and view life like you would a buffet counter, you are not going to eat everything even though it may all look appealing and on the other had just because something looks or “tastes” bad it does not mean it will harm you, infact how many times as a child did you have to take the medicine that tasted horid but actually did you good?
In the long run focusing on the bad would not benefit you, you have to look for the good even if the good seems not able to be digested at any one particular time. When you were a child you were also told to ” eat your greens” not many children like dark greens but in the long run they benefit you, this is the same way with the supposed “credit crunch” they are trying to feed us something long enough for us to actually think there will be a benefit to it when infact the echonomy is very often driven by the opinion of the people in the know, as people some times say “they say this or they say that” who are the they exactly and why would the “they” want you to think things are going bad? I personally think they want you to think things are going bad so everyone will sell there stocks etc the prices plummet so the “they” can con us and become rich.
This is not the way to live. If you want to succeed in life you still have to go for your dreems regardless of how things look at the time, after all, no Mt Everest was ever defeated before the first time some one had reached the top, meaning simply this, “sometimes you can not always see where your going and it may look unable to to reach the top or break free but some day you will if you focus on the top and not on how hard or how bad the “credit crunch” is because the credit crunch does not exist if we all choose to climb on to the top regardless.