Question bail-out package and general market stuff

[Scouse]

Did he really? Most rich people I've known don't see the world that way. They don't laugh at the the "poor folk" because they don't really think about them at all.

True. But he's socially minded. Always expected to be poor, very self-centred, misunderstood semi-intellectual...

You're first mistake is assuming our so-called democracy is anything but an illusion.

I've never made that mistake

But I disagree with you. Have the principles and spread them to others if possible. Futile right now, maybe, but who knows what the future may bring.

 

[Yoni]

Interest rate cut is good news. It also means the pound will get weaker though, which actually helps me as I'm soon to be paid in Euros.

Shite for me though as I will be living in Europe but being paid in Sterling

 

[Tom]

Hope maggie is proud her giant financial liberation went so well.

Lets return to the 70s then. Because obviously without easy access to finance, businesses will take right off won't they?

 

[Scouse]

Lets return to the 70s then. Because obviously without easy access to finance, businesses will take right off won't they?

You're just bitter that Maggie was as wrong as the reds

 

[DaGaffer]

Shite for me though as I will be living in Europe but being paid in Sterling

Actually since I said that, Europe, the US and Japan have also cut rates; so it probably won't affect the exchange rate.

 

[Furr]

Actually since I said that, Europe, the US and Japan have also cut rates; so it probably won't affect the exchange rate.

And several other countries, this is a risky, expensive plan and if it doesn't work.... we're all screwed, for a longggg time in fact.

Depends how things go over the next few weeks I guess, although the general word on the street with people working in the city is "doooooooooooooomed"

 

[old.user4556]

It has to work.

It will work.

YouTube - Missy Elliot - Work It

 

[Chilly]

Lets return to the 70s then. Because obviously without easy access to finance, businesses will take right off won't they?

No, lets return to somewhere in between where the old, very strict lending criteria are slightly relaxed but still tight and only people who can demonstrably and realistically pay back a debt will be lent to. Venture capitalists are as free now to invest as they were in the 70's (apart from stuff like CGT relief and a few other bits and pieces).

Liberalising the market obviously had good side effects, but it had bad ones too. Our society is becoming dehumaised as the corporate culture of greed and profit suffuses the social culture. Why should I do anything except absolute minimum effort when the company I work for does the same?


/edit In fact the magic hand of the market has done some of this for us. Lenders will now and for a very long time be far stricter through a combination of bitter memories of this period in time and tigher regulations being drafted now by financial regulators accross the globe.

 

[Scouse]

Why don't we just trash the Central Bank concept and go back to an honest money system?

No more boom and bust, no more inflation, true economic freedom...

...gah, I must be a hippie!

 

[Chilly]

Why does inflation exist anyway? What happens if you fix the currency pool?

 

[Cadelin]

Why does inflation exist anyway? What happens if you fix the currency pool?

Inflation is just a word to measure the change in the value of money. Deflation has also occurred in the past and there is nothing stopping inflation being 0%.

The fact that inflation happens is caused by many many factors. A recent example that caused inflation is the price of oil. That rises because of increased demand in china/india or terrorists attacks etc. You now have to pay more for your fuel. In order to maintain your lifestyle you want an increase in wage, this then increases the cost of the goods/service your company produces and the cycle goes on.. There are other factors causing inflation and yet more that work in the opposite way.

 

[Furr]

stolen from guide fawkes blog

 

[SilverHood]

Ah well, my employer decided commodities was no longer something they wanted to be involved in and are canning all the operations world wide. Been putting on a golf green and playing wii / flash games all week while we waited for our notices to be given.

Highlight of the week was head of Foreign Exchange deciding to use our meeting room. In he walks. And we're playing wii bowling on the projector screen. At 11AM.

Quite funny reading about the British bail out. Apparantly, the Brits "don't fuck about when it comes to banking" and are being hailed as being decisive and doing it right.

 

[Scouse]

Quite funny reading about the British bail out. Apparantly, the Brits "don't fuck about when it comes to banking" and are being hailed as being decisive and doing it right.

Yep. Stealing £2000 per head of taxpayer to give to unscrupulous bankers without even the "debate" they had in the US certainly ain't "fucking about".

Whether it's "doing it right" is debatable. Just not in our media. Or in parliament either.

 

[pcg79]

this is one of the best buying times any of us has/will ever see.

 

[rynnor]

this is one of the best buying times any of us has/will ever see.

Only in hindsight tho so thats effectively useless. Many apparently good companies will become insolvent because they cannot re-negotiate or extend their credit thats the bottom line.

Unless you are sure that the company has good liquidity you shouldnt touch it even if it looks like the bargain of the year...

 

[pcg79]

yup, i know how to do my due diligence!

although if anyones feeling brave, you can always go long iraq

 

[Darthshearer]

I know a lad who deals in shares and stuff. He said if you have a spare coupld of grand you can tuck away for 5 years, stick it onto stocks and shares, they are so low now they will deffo go up.

Obviosulsy dont stick it on something like RBS