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Global financial system implosion begins

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

  1. 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 Active Member

    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 my world is fire and blood

    Almor, BigTom, yield and 7 others like this.
  5. You’ve jumped the shark , you fool
    mwgdrwg and existentialist like this.
  6. mwgdrwg

    mwgdrwg A powerhouse of a human and cannot be silenced Enforced Holiday

    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 Give me space communism or give me death

    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 Active Member

    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
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    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. 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. 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

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