Financial Crisis

[12DrinkMore]

Want to know how Merv spends his time?

http://www.bankofengland.co.uk/education/inflation/balloon/balloon.htm

Just love the message "You've lost control and the Bank of England takes over"

[12DrinkMore]

Here's an interesting EXCEL sheet for those who like economic stats.

http://www.bankofengland.co.uk/education/targettwopointzero/data/downloads/datasheets/target_datasheet_long_run_data.xls

Abrak is our man for interpreting these stats. But if the trend continued into October, for the first time the M4 will show a contraction, also interesting is the level of M4 lending which is contracting. This would surely indicate that the current inflation of 3.2% is not being caused through low interest rates and an oversupply of dosh, but through some other channel, possibly the collapse in the GBP causing imports to rise.

[teletiger]

Reading all these posts.....all relevent.....all showing the way.....are but bubbles rising in a bottle. See that bubble that's decending?....that's Jman.

'And for Alex.....you think the future for humans is ....."rivets??"

Regards. (There was more,.....

Best regards.

[12DrinkMore]

Has Asia fully recovered? http://www.adb.org/D...ote-dec2010.pdf

The recovery in developing Asia appears to be even stronger than envisaged in the Asian Development Outlook 2010 Update (the Update), which was released in eptember. Robust third quarter expansion in gross domestic product (GDP) reaffirms the view that the region is leading the world in the recovery from the recent economic crisis.

I find that interesting. I seem to remember various pundits claiming that Asia would be in the doldrums until the west showed a recovery.Well, the west has not shown any recovery except maybe Germany, and the rest are all on the Great Austerity 2010-11 trip.

In Southeast Asia, the Philippines and Thailand are now expected to outperform the Update's forecast, leading to a slight upward

revision in the region's aggregate growth. The Philippines expanded by a solid 6.5% in the third quarter propelled by higher consumer spending, low inflation, and robust investments. Thailand is also set for a solid recovery. Backed by the revival in private investment, the easing in the third quarter of the year has been less than anticipated.

"Solid Recovery", maybe all those around TV forecasting economic decline and collapse for Thailand, including of course the THB, will review their opinions?

Just imagine what the growth in Asia would be if the west wasn't wallowing around in the Great Recession (2008-201?)

[midas]

I always remember Abrak dismissing the possibility of civil unrest in USA

as a " romantic notion "

But even the Pentagon would disagree with him now .........

" Intelligence Committee Vice-Chair Christopher Bond said the economic crisis is now “the primary focus of the intelligence community.” As the Army War College has warned, the response to this coming phase of the economic crisis “might include use of military force against hostile groups inside the United States. Further, DoD [the Department of Defense] would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance."

Former National Security Adviser Zbigniew Brzezinski expressed his fears:

“I was worrying about it because we’re going to have millions and millions of unemployed, people really facing dire straits. And we’re going to be having that for some period of time before things hopefully improve. And at the same time there is public awareness of this extraordinary wealth that was transferred to a few individuals at levels without historical precedent in America….

And you sort of say to yourself: what’s going to happen in this society when these people are without jobs, when their families hurt, when they lose their homes, and so forth?”

http://ampedstatus.com/the-road-to-world-war-iii-the-global-banking-cartel-has-one-card-left-to-play

[siamamerican]

Just imagine what the growth in Asia would be if the west wasn't wallowing around in the Great Recession (2008-201?)

America's China imports were at record levels last quarter. The US isn't in a recession and hasn't been for some time now. Hard for the 10% unemployed workers but unemployment alone doesn't constitute a recession. Look at the profits of S&P and a recession doesn't come to mind.

As I thought from the beginning of this "crisis", it would end and America would suffer less than Europe. My posts on this thread and others were consistent and unpopular. As pundits in Europe hammered away at America they stupidly forgot to look in the mirror and realize their house was far from in order. Europe as a whole (Germany excluded) has borrowed their way to prosperity and now the governments have to face reality. America's public sector borrowing also got out of hand to a lesser extent.

It's just one of many never ending cycles. Just look at Australia's debt. No worries now because of all the wealth their commodities are bringing into the country. This will end and people will be ridiculing Australia too someday. As they did Asia just barely over 10 years ago.

Edited December 7, 2010 by siamamerican

[BlackJack]

Just imagine what the growth in Asia would be if the west wasn't wallowing around in the Great Recession (2008-201?)

America's China imports were at record levels last quarter. The US isn't in a recession and hasn't been for some time now. Hard for the 10% unemployed workers but unemployment alone doesn't constitute a recession. Look at the profits of S&P and a recession doesn't come to mind.

As I thought from the beginning of this "crisis", it would end and America would suffer less than Europe. My posts on this thread and others were consistent and unpopular. As pundits in Europe hammered away at America they stupidly forgot to look in the mirror and realize their house was far from in order. Europe as a whole (Germany excluded) has borrowed their way to prosperity and now the governments have to face reality. America's public sector borrowing also got out of hand to a lesser extent.

It's just one of many never ending cycles. Just look at Australia's debt. No worries now because of all the wealth their commodities are bringing into the country. This will end and people will be ridiculing Australia too someday. As they did Asia just barely over 10 years ago.

We already went through it and learned our lessons well

we had recessions and devalued dollar

we built on that

of course if China fails we will have a few years to lick our fur down but hey

theres always India and Indonesia and they happen to like Aussies more than ............

[12DrinkMore]

America's China imports were at record levels last quarter. The US isn't in a recession and hasn't been for some time now. Hard for the 10% unemployed workers but unemployment alone doesn't constitute a recession. Look at the profits of S&P and a recession doesn't come to mind.

Although profits might be up in the S&P this is due to the financial industry receiving limitless interest free cash from Ben, selling off stock and reducing costs by firing staff. The US might be technically out of a recession based on gdp, but this is still marginal and there are a few fiddlers in the Federal statistic department. If all things were going well, Ben would not be pumping even more money into the economy. His mandate of ensuring adequate employment levels as well as keeping inflation under control and maintaining stability of the banks is now sitting a little heavy on his shoulders. As he indeed hinted at in a recent speech, he cannot do this without a bit of help form the government.

As I thought from the beginning of this "crisis", it would end and America would suffer less than Europe. My posts on this thread and others were consistent and unpopular. As pundits in Europe hammered away at America they stupidly forgot to look in the mirror and realize their house was far from in order. Europe as a whole (Germany excluded) has borrowed their way to prosperity and now the governments have to face reality. America's public sector borrowing also got out of hand to a lesser extent.

The US does seem to be more resilient and flexible, but the reality is now facing individual States within the US in the same way that the PIGIS are looking at severe austerity programs to somehow deflate themselves into solvency. A task which is impossible.

It's just one of many never ending cycles. Just look at Australia's debt. No worries now because of all the wealth their commodities are bringing into the country. This will end and people will be ridiculing Australia too someday. As they did Asia just barely over 10 years ago.

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

[siamamerican]

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

Agree, with the most of what you stated above. As for the above paragraph, it is a pity but isn't fixable. It's part of human nature and I don't see that changing anytime soon. Societies borrow and spend beyond their means when times are good and blame anything they can point a finger at when times are bad. Nothing new happened in this recession/crisis with the exception of the amount of info that was shared in the traditional median and the internet. It wasn't a crisis like no other; except in the fact that we live in a world today that create a crisis in real time when one may not exist.

People have a flare for the dramatic and even a greater tendency to ignore history. This was the first worldwide recession where the simple minded conspiracy clan and fringe self proclaimed economists were prominent. It was hilarious to watch after the frustration and disbelief.

[midas]

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

Agree, with the most of what you stated above. As for the above paragraph, it is a pity but isn't fixable. It's part of human nature and I don't see that changing anytime soon. Societies borrow and spend beyond their means when times are good and blame anything they can point a finger at when times are bad. Nothing new happened in this recession/crisis with the exception of the amount of info that was shared in the traditional median and the internet. It wasn't a crisis like no other; except in the fact that we live in a world today that create a crisis in real time when one may not exist.

People have a flare for the dramatic and even a greater tendency to ignore history. This was the first worldwide recession where the simple minded conspiracy clan and fringe self proclaimed economists were prominent. It was hilarious to watch after the frustration and disbelief.

I think it is you that is ignoring history ?

Of course something new occured this time around because it has never happened on such

a scale before simultaneously in many countries and continents

And i am surprised that you seem to see nothing morally wrong with the level of government

bailouts and the propping-up of the system by central banks at the expense of the little man

- the common man in what will end being the biggest transfer of wealth to those ‘in the know’ from

those who are ignorant.

[siamamerican]

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

Agree, with the most of what you stated above. As for the above paragraph, it is a pity but isn't fixable. It's part of human nature and I don't see that changing anytime soon. Societies borrow and spend beyond their means when times are good and blame anything they can point a finger at when times are bad. Nothing new happened in this recession/crisis with the exception of the amount of info that was shared in the traditional median and the internet. It wasn't a crisis like no other; except in the fact that we live in a world today that create a crisis in real time when one may not exist.

People have a flare for the dramatic and even a greater tendency to ignore history. This was the first worldwide recession where the simple minded conspiracy clan and fringe self proclaimed economists were prominent. It was hilarious to watch after the frustration and disbelief.

I think it is you that is ignoring history ?

Of course something new occured this time around because it has never happened on such

a scale before simultaneously in many countries and continents

And i am surprised that you seem to see nothing morally wrong with the level of government

bailouts and the propping-up of the system by central banks at the expense of the little man

- the common man in what will end being the biggest transfer of wealth to those ‘in the know’ from

those who are ignorant.

Wasn't Citi the largest recipient of bailout cash? Not sure but I think they were. Surprise, the government just got fully paid back and earned over 25% on their 45 billion investment. If the the US bailed out more companies like Citi we wouldn't have a deficit and we could keep supporting the little men that can't support themselves.

Give it up Midas. Your rants are getting long in the tooth.

[lapswim]

Did any one count the cost of Fed loans at the discoumt window and Citi lending it back to treasury at a 3% margin?

[flying]

White House adviser says tax deal vital to economy

Sounds a lot like Hank Paulson's old threat that if Congress does not sign the bailout to buy toxic debts that the USA would fall into a bottomless pit...Staring into the abyss I believe were his words

WASHINGTON—White House economic adviser Larry Summers says that failure to pass a new tax cut compromise would significantly raise the risk of a double-dip recession.

[flying]

:lol:

Saw this last night.....The whole show was funny but this was one of the best...

http://www.philstockworld.com/2010/12/08/america-laughs-as-jon-stewart-explains-how-ben-bernanke-is-robbing-it-blind-2/

[flying]

Wee bit of discontent? haha.

warning a wee bit of profanity in this video...

[midas]

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

Agree, with the most of what you stated above. As for the above paragraph, it is a pity but isn't fixable. It's part of human nature and I don't see that changing anytime soon. Societies borrow and spend beyond their means when times are good and blame anything they can point a finger at when times are bad. Nothing new happened in this recession/crisis with the exception of the amount of info that was shared in the traditional median and the internet. It wasn't a crisis like no other; except in the fact that we live in a world today that create a crisis in real time when one may not exist.

People have a flare for the dramatic and even a greater tendency to ignore history. This was the first worldwide recession where the simple minded conspiracy clan and fringe self proclaimed economists were prominent. It was hilarious to watch after the frustration and disbelief.

I think it is you that is ignoring history ?

Of course something new occured this time around because it has never happened on such

a scale before simultaneously in many countries and continents

And i am surprised that you seem to see nothing morally wrong with the level of government

bailouts and the propping-up of the system by central banks at the expense of the little man

- the common man in what will end being the biggest transfer of wealth to those ‘in the know’ from

those who are ignorant.

Wasn't Citi the largest recipient of bailout cash? Not sure but I think they were. Surprise, the government just got fully paid back and earned over 25% on their 45 billion investment. If the the US bailed out more companies like Citi we wouldn't have a deficit and we could keep supporting the little men that can't support themselves.

Give it up Midas. Your rants are getting long in the tooth.

Hey siam !

If things are as rosy and " normal " as you seem to think they are,

what about this then ?

Here are the Alaska National Guard troops taking part in a training exercise

assisting Anchorage Police to calm or detain rioters as part of a

training scenario of exercise ‘Vigilant Guard.’” Notice the person holding a sign

saying, “FOOD NOW!”

You see not everyone is going to be happy paying $23 for a loaf a bread

as the NIA have warned is coming

Still doesnt seem to bother you

Edited December 9, 2010 by midas

[midas]

Wee bit of discontent? haha.

warning a wee bit of profanity in this video...

very well put !

[midas]

Things are about to get tough for Ben Shalom Bernanke

It's Official: Ron Paul Is Head Of Monetary Policy Subcommittee

[midas]

Give it up Midas. Your rants are getting long in the tooth.

I cannot give up my rants when i read these kinds of things.... this is very very wrong !

July 2010: Brian Lenihan calls end to “mad bankers bonuses”.

Dec 2010: AIB bankers get €40m bonus.

It has emerged that executives of the Irish bank AIB will be paid €40m in bonuses

Commentator Fintan O’Toole pointed out the €40m being paid in bonuses to the AIB workers is equivalent to the amount saved in the Budget by cutting school capitation grants and student grants

Theft ! nothing more nothing less !

http://www.thejournal.ie/july-2010-brian-lenihan-calls-end-to-mad-bonuses-dec-2010-aib-bankers-get-e40m-bonus-2010-12/

[BlackJack]

Yes, it's a pity that we can't fix it, once and for all. The current banking/sovereign finance system has a fundamental flaw, as it relies on exponential economic and debt growth.

Agree, with the most of what you stated above. As for the above paragraph, it is a pity but isn't fixable. It's part of human nature and I don't see that changing anytime soon. Societies borrow and spend beyond their means when times are good and blame anything they can point a finger at when times are bad. Nothing new happened in this recession/crisis with the exception of the amount of info that was shared in the traditional median and the internet. It wasn't a crisis like no other; except in the fact that we live in a world today that create a crisis in real time when one may not exist.

People have a flare for the dramatic and even a greater tendency to ignore history. This was the first worldwide recession where the simple minded conspiracy clan and fringe self proclaimed economists were prominent. It was hilarious to watch after the frustration and disbelief.

I think it is you that is ignoring history ?

Of course something new occured this time around because it has never happened on such

a scale before simultaneously in many countries and continents

And i am surprised that you seem to see nothing morally wrong with the level of government

bailouts and the propping-up of the system by central banks at the expense of the little man

- the common man in what will end being the biggest transfer of wealth to those ‘in the know’ from

those who are ignorant.

Wasn't Citi the largest recipient of bailout cash? Not sure but I think they were. Surprise, the government just got fully paid back and earned over 25% on their 45 billion investment. If the the US bailed out more companies like Citi we wouldn't have a deficit and we could keep supporting the little men that can't support themselves.

Give it up Midas. Your rants are getting long in the tooth.

if you think the bailout was billions then I am sorry to tell you that you are wrong

the public was told billions when in fact it was a monster far bigger than they told the public

they still have not told the truth and Wikileaks will put out the docs early next year to prove the nonsense the banks and the FED got up to

the spin doctors of the USA are masters but Wikileaks is bringing their own doctors in now so LOOK OUT

[AlexLah]

AIG, $182.5 billion

[LaoPo]

About the RRR Rates....the Reserve Requirements Ratio with Western Banks.

Does anybody know what the standard RRR rates are for larger Banks in Europe/US/Australia....more or less?

I ask this because the RRR ratio reserves are raised for the third time in China, up to 18.5 percent; a record high which will be raised up to 23% by 2011.

http://www.reuters.c...&feedName=usdai

LaoPo

[flying]

Does anybody know what the standard RRR rates are for larger Banks in Europe/US/Australia....more or less?

I believe US is 10%

[siamamerican]

Wasn't Citi the largest recipient of bailout cash? Not sure but I think they were. Surprise, the government just got fully paid back and earned over 25% on their 45 billion investment. If the the US bailed out more companies like Citi we wouldn't have a deficit and we could keep supporting the little men that can't support themselves.

Give it up Midas. Your rants are getting long in the tooth.

if you think the bailout was billions then I am sorry to tell you that you are wrong

the public was told billions when in fact it was a monster far bigger than they told the public

they still have not told the truth and Wikileaks will put out the docs early next year to prove the nonsense the banks and the FED got up to

the spin doctors of the USA are masters but Wikileaks is bringing their own doctors in now so LOOK OUT

I was referring to Citi - not the complete bailout. Can't wait until "Wikileaks" tells us all how it really went down - "yawn". I'll just make up my own mind and let certain TV tellers of the future keep calling it wrong. I see some of them have now jumped on the gold band wagon which should put fear in minds of other investors that hold gold.

I've bored of this site again. I don't consider myself superior to the average guy but this site is crawling with nuts. Time for me to disappear for a while and have fun in the real world. The world where individuals create wealth, enjoy themselves, and don't fantasize about economic collapse and anarchy.

[jazzbo]

Well then, Kuhn SA, you are just a hopeless Pollyanna with his head buried in the sand who is condemned to live the rest of his life in poverty ... BTW is there room in that hole for two?

I have decided to be one of the only persons left with cash on hand when it's time for all of those 'smart' guys to unload their gold FAST.

[midas]

Wasn't Citi the largest recipient of bailout cash? Not sure but I think they were. Surprise, the government just got fully paid back and earned over 25% on their 45 billion investment. If the the US bailed out more companies like Citi we wouldn't have a deficit and we could keep supporting the little men that can't support themselves.

Give it up Midas. Your rants are getting long in the tooth.

if you think the bailout was billions then I am sorry to tell you that you are wrong

the public was told billions when in fact it was a monster far bigger than they told the public

they still have not told the truth and Wikileaks will put out the docs early next year to prove the nonsense the banks and the FED got up to

the spin doctors of the USA are masters but Wikileaks is bringing their own doctors in now so LOOK OUT

I was referring to Citi - not the complete bailout. Can't wait until "Wikileaks" tells us all how it really went down - "yawn". I'll just make up my own mind and let certain TV tellers of the future keep calling it wrong. I see some of them have now jumped on the gold band wagon which should put fear in minds of other investors that hold gold.

I've bored of this site again. I don't consider myself superior to the average guy but this site is crawling with nuts. Time for me to disappear for a while and have fun in the real world. The world where individuals create wealth, enjoy themselves, and don't fantasize about economic collapse and anarchy.

funny how he conveniently overlooks the bailout of Fannie Mae and Freddie Mac which could cost as much as $1 trillion - the biggest bailout in American history.And he says there is nothing unusual about this " recession "

Anyway i wish him well with his " wealth creation " endeavours because his taxes will come in very handy

[cloudhopper]

I have decided to be one of the only persons left with cash on hand when it's time for all of those 'smart' guys to unload their gold FAST.

If there is indeed a deflationary burst that overwhelms the politicians central banks' willingness or ability to inflate this may turn out to be the best strategy (after getting out of all debt) to preserve purchasing power but only if it is in the form of physical bank notes as the binary varieties may not work too well in that scenario.

The truly smart guys will have prepared for this possibility and will not need to unload their gold or anything else fast.

[midas]

silly me !

When Obama talked about redistribution of wealth I thought

he meant from the rich to the poor

[jazzbo]

truly smart guys ... yeah? ... and where might I go to find some of them? I was just referring to the 'don't be left holding the bag' comment from Forbes.com -- I guess those guys are not the truly smart guys referenced.

BTW I'm disappointed that I am not on your Ignore list as well.

BTW2 IMHO the reason gold price is high is because it is being marketed as what 'the truly smart guys do' on FOX News by Gordon Liddy and the like such that you can go up to the hot babe at a party and say " Hey Hot stuff ... I'm truly smart ... I own gold -- physical gold -- So let's get physical' and the hot babe will be happy to trot off into the sunset with you.

Edited December 11, 2010 by jazzbo

[mania]

The John-E-Come Lately would have us believe they are smart to wait and pick the bones for cheap gold later.  Yet it is probably just a poor overweight expat in a rented room in Isaan wearing a mickey mouse T shirt from the one day of enjoyment in his life