Banks- (insurance) take a nose dive

[Banana]

Don't have the data handy, but I can tell you that:

Historically, when it was norm for country to be on some kind of gold standard, everytime they went to war, they had to went off the gold standard and print some notes in order to finance for war. There just wasn't enough gold to keep spending and you can't turn lead into gold but you can make more notes (and thus inflate the monetary supply) to look as if you had as many gold.

Should give you an idea.

 

[GaryPanic]

PS - Ex-military (my stand point and views are from a UK side so could not speak for the US)

also
medical costs go up somewhat the cost of an injured soldier and you will get more of these than in a training exercise
(cold hearted view - these costs are on going and will only get higher, whereas your terrorist - is happy to get blown to pieces, - I have looked at this without compasion - pure cost basis )

 

[GaryPanic]

Back to Banks (UK)

update Northern Rock are offering morgages - while this seems a bit dim - not such a bad choice to go for

firstly back by the BoE
and Northern Rock can borrow money from the BoE cheaper than it can from other Banks - this will in turn (and in time) push morgages rates down (only the bank to bank rates not the actual BoE interest rate)

so if I was looking to change morgages i would give NR some consideration....


NR has made a promise that its interest rates for Savers would not be in the top 3- no promise on morgages

i can see the main banks having a trantrum at this - - however if you are looking for a morgage - think about it -

same will apply for B&B in a couple of months

 

[statsman]

THIS JUST IN

The US House of Representatives have rejected the Bush bailout program.

I have just withdrawn all my cash from the bank, turned it into gold coins and burried them in the back garden.

 

[Rich]

Navy pretty much the same - the navy on this occasion is pretty much support based and not into naval combat - however they still have to be prepared

Not so, we don't have a navy anymore, it's been sacrificed to pay for the wars of terror in Iraq and Afghanistan

 

[Rabbie]

THIS JUST IN

The US House of Representatives have rejected the Bush bailout program.

I have just withdrawn all my cash from the bank, turned it into gold coins and burried them in the back garden.

Where did you say your address was. I have this urge to go digging

 

[oumahexi]

Where did you say your address was. I have this urge to go digging

You'll find him right at the end of the rainbow

Think I'll do the same, take all my pound out the bank and burry it under a pebble

 

[Rich]

You'll find him right at the end of the rainbow

Think I'll do the same, take all my pound out the bank and burry it under a pebble

Save the pebbles, they'll be worth more soon

 

[georgedwilkinson]

I would convert my life savings into gold coin but the gold coin makers would laugh at me. I'd get a few particles of dust!

 

[Rich]

I would convert my life savings into gold coin but the gold coin makers would laugh at me. I'd get a few particles of dust!

How about gold fillings in your teeth, apparently there's a thriving market there now

 

[georgedwilkinson]

No, all my fake teeth are made of wood. I approached the guy selling firewood but he wasn't interested.

 

[Lightwave]

My vote is definitely with a correction. I 'm with the opinion that £700 billion wouldn't fix the problem anyway just delay the inevitable.

Time will however help it gives time to get out there to work and pay off debt.

Get working everyone!!!

PS you don't need that flat screen telly

 

[oumahexi]

PS you don't need that flat screen telly

You do if you live in a post war house! Of course, if we all go out and work to pay off our debts, there won't be any time for telly...

 

[Pauldohert]

You do if you live in a post war house! Of course, if we all go out and work to pay off our debts, there won't be any time for telly...

I'm intrigued what a post war house has to do with it?

 

[oumahexi]

I'm intrigued what a post war house has to do with it?

The rooms are tiny! Flat screen telly takes up less space.

 

[Rich]

The rooms are tiny! Flat screen telly takes up less space.

But if you have a big one (screen that is) you have to sit further away from it

 

[statsman]

Just read an interesting article.

It seems that if the US government lets the banks fail and re-imburses all of the depositor's money, it will only cost $100 billion.

Won't go anywhere of course. No special interest groups are backing it.

 

[Lightwave]

Personally I thought that would have been a much more sensible option

Plus you get to sell all the assets of the bust banks which you would hope would claw back something and it keeps the risk/reward trade off intact as the bankers likely to loose their shirts.

Maybe I'm missing something.

There seems to be very little description of what the "very bad things will happen" actually are.

I can't get over the feeling that even with money pumped in credit / trade deficits need to be paid off sometime and maybe this is justl delaying an inevitable correction.

 

[georgedwilkinson]

There seems to be very little description of what the "very bad things will happen" actually are.

I think everybody is thinking: "The Great Depression", whether that could happen or not. My parents and grandparents had stories of doom and gloom regarding the depression. If they were true (which I have no reason to believe otherwise), it is something we don't want. I believe one of the great songs of that era was "Brother, Can You Spare a Dime?".

 

[dapfeifer]

Not sure if this link has been posted yet, but I read this article and it seemed to give a reasonable explanation for who was all responsible for the economy's current situation:

http://www.newsweek.com/id/161936/page/1

Plus, it falsifies another couple of TV ads some of us may have seen...