Global financial system implosion begins

Discussion in 'world politics, current affairs and news' started by Falcon, Mar 26, 2008.

  1. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    That's a whole thread in itself for the economics geeks on here.
  2. terapija

    terapija Well-Known Member

    You stupid

    Emergency Economic Stabilization Act of 2008 - Wikipedia
    2008 United Kingdom bank rescue package - Wikipedia
    The Big Bank Bailout
    Italy's Latest Bank Bailout Has Created A Two-Speed Eurozone
    Reality check: how much did the banking crisis cost taxpayers?

    It's actually crazy how much money they've pumped in the system
    existentialist and NoXion like this.
  3. Happy Larry

    Happy Larry Banned Banned

    The reality is that, in the USA where of course the "global financial crisis" began, $90bil more has been paid back into the system than was paid out.

    The thread header which talks of a "global implosion" is pure nonsense, as the system has corrected itself. The system is in even better state now as legislation has been promulgated and rules put in place to prevent this situation arising in the future.

    Large corporations have been massive taxpayers for decades, so why shouldn't they get some government aid when they fall on "bad times" just as individual taxpayers get? As the "bailout score card" shows, they've paid back far more than they've received in aid.
  4. DotCommunist

    DotCommunist slowtime

    Almor, BigTom, yield and 7 others like this.
  5. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    You’ve jumped the shark , you fool
    mwgdrwg and existentialist like this.
  6. mwgdrwg

    mwgdrwg Be a Pisces. Jam.

    Fucking lol.
    existentialist likes this.
  7. gosub

    gosub ~#

    Actually that propublica link is quite interesting , and theoretically BASEL 3 should make some difference...but yeah,
  8. NoXion

    NoXion It's been 600 years...

    I nearly lost my hot chocolate when I read that!
    Nylock likes this.
  9. yield

    yield zero


    The Dangerous Myth of 'Taxpayer Money'
    As Happy Larry is fixated on taxpayers this is worth a read.
    NoXion and existentialist like this.
  10. Happy Larry

    Happy Larry Banned Banned

    U.S. Declares Bank and Auto Bailouts Over, and Profitable

    U.S. Declares Bank and Auto Bailouts Over, and Profitable

    Obama actually declared in 2014 that the bailout money had been repaid, and then some! The US stock exchanges have gone on to record highs since then.

    Some "implosion"

  11. yield

    yield zero

    UK's £200bn consumer debt unsustainable, S&P warns
    Tuesday 24 October 2017
    Alarm sounds over state of UK high street as sales crash
    Thursday 26 October 2017
    World's witnessing a new Gilded Age as billionaires’ wealth swells to $6tn
    Thursday 26 October 2017
  12. ffsear

    ffsear Well-Known Member

    Interest Rates up to 0.5%
  13. BemusedbyLife

    BemusedbyLife Well-Known Member

    My interest on my savings as I try to get enough to get on the housing ladder is literally on the order of pennies per year, this isn't going to help much
  14. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    Subscribe to read

    Just to keep us all up to date - bonds constructed of Student debt being additionally securitised and flogged- and much the issuance is less than Junk - they have the rating that is either missing because they are so utter shit or sub DPRK.

    So you lazy former Students- keep up them payments on yer loans , otherwise you could be responsible for the next crash.
    yield likes this.
  15. ffsear

    ffsear Well-Known Member

    Who the fuck is buying it?
    NoXion and sealion like this.
  16. yield

    yield zero

    People are buying any old shit right now. It's "a rising tide lifts all boats". EU junk bonds were beating US treasuries for a while.

    Complete misallocation of risk. But that's what quantitative easing has given
  17. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    It is very cheap to buy. heavily discounted to make the numbers of eventual non payers into account. the Government will need to keep the buyers sweet so they can tap them for additional cash in the future, so these will be seriously cheap.
    sealion and ffsear like this.
  18. ffsear

    ffsear Well-Known Member

    So this is basically like a CDO with no asset to actually back it?
  19. not-bono-ever

    not-bono-ever Not what they want but what is good for them

    They are a cdo package yes / would you class someone’s liabilities as an asset ? Hmmm

    It’s a 200 bn market in the great Satan. I can see no problem at all in borrowing something that the boys at Goldman Sachs developed years ago.

  20. yield

    yield zero

    As Credit Booms, Citi Says Synthetic CDOs May Reach $100 Billion
    2 November 2017
  21. teqniq

    teqniq DisMembered

  22. not-bono-ever

    not-bono-ever Not what they want but what is good for them

  23. yield

    yield zero

    The Stock Market Never Goes Down Anymore
    12 January 2018
    All good then!

    The company that runs Britain is near to collapse. Watch and worry
    Guardian. Aditya Chakrabortty Friday 12th Jan 2017
  24. yield

    yield zero

    Bankers, Policy Makers at Davos Revel in ‘Sweet Spot’ Economy
    26 January 2018
    Sweet spot ffs. The rulers and their gilded bubble.
    campanula likes this.
  25. petee

    petee i'm spartacus

    right, i've been watching my 401K go up and up, with is nice, but the only thing behind it seems to be trumpism. i've been sort of following bloomberg this past year and so far as i can tell they cottoned onto this right away, no doubt hewing to the politics of their anti-trumpist owner, though that doesn't mean they're wrong. meanwhile people are being evicted like there's no tomorrow etc. and, the next article on that bloomberg page is "Biggest Stock Sell Signal Since 2013 Sparked by Record Inflows".
    Last edited: Jan 27, 2018
  26. yield

    yield zero

    It's not really Trumpism. The global powerhouse Central Banks The Fed, Bank of England, European Central Bank, Bank of Japan, Swiss National Bank etc have been buying anything they can lay there hands on. Started off as an emergency measure to stop the Global Recession 2009 but they didn't stop.

    The Risks in Central-Bank Balance Sheets Are Clear
    $21.7 trillion in assets as of December 2017! Even when they were neutral all monies made on what they owned were recycled into new purchases. At some point with a "return to normalisation" they'd theoretically want to sell their assets to the market. Is there a market for it? Who can buy that much? When is the credit cycle going to end?
  27. petee

    petee i'm spartacus

    in the States, it's trumpism, by which i mean, a sense among american corporate managers that they're going to get whatever they want, including protectionism. there is scarcely any change in fundamentals now from what was going on when obama left. what's going on elsewhere i don't know, and i of course acknowledge the international nature of capital. you may be right about it.
  28. ska invita

    ska invita back on the other side

    When you say Assets do you mean shares?
  29. yield

    yield zero

    Different central banks bought varied mixes. Overall it's mainly bonds/debt of various types. BoJ was unusual in purchasing a lot of shares/equities.
  30. Idaho

    Idaho blah blah blah

    You've missed the start of it urban .. Disappointed. Massive stock bubble starting to crack. Ridiculous that the BBC business front page leads with the bitcoin crash (something that affects the chump change of a handful of loons and gamblers) while putting the global stock market drop 3rd (something that costs trillions and is the start of a long awaited unravelling).

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