US and UK Bank Bailouts

Are they working? No.

UK ECONOMY:

We're a bit screwed really! The Pound is dropping like a stone meaning that we have to pay more for imports, which is really scary seeing as we have virtually gotten rid of our entire manufacturing sector. Our economy has shrunk half a percent in the last quarter, and I have not even mentioned the Credit Crunch.

Most people in the UK seem to think all that has been going on is not relevant to them. The housing market is in steep decline but something even more frightening is about to happen, and those who are younger are unlikely to remember such an occurrence in their lifetime; forced sales. Now that the economy is contracting unemployment will rise, meaning that more people will be unable to service their mortgages. I dont know about you but when I look at the prices of homes in London for example I was always baffled by how so many people could earn enough to fuel the demand. I suspect many lied in order to get the loans they needed to buy what they saw as an investment and crucially not a home. This is what happens in bubbles, and if this has taken place, chances are many of those who got liar loans sold their first fraudulently acquired property for a profit, using the gains to obtain an even larger mortgage by increasing their initial deposit. Maybe they bought a second or third, etc. property. Remember these people were brainwashed into believing that prices could only rise, and now they are dropping like a stone, many of them will find themselves in the unenviable position of being in negative equity.

But as a nation we are in denial. We think the credit crisis is a new buzz phrase to describe something that is happening to other people. It is no such thing; it will take time for the consequences to affect Joe Public. Do you remember when you first heard about the Subprime mortgage crisis in America? It was probably late 2007 and it took until September 2008 when Lehman Brothers collapsed to feel its true brutality. However in the UK we are yet to have such a crisis in our mortgage sector. Our house prices are yet to fall to realistic levels. This is beginning to happen, and this combined with the global credit crisis may well prove to be such a monumental financial tsunami that our entire future as a country could be thrown into doubt.

When I talk like this most of my friends either nod in agreement or listen politely thinking I am a doomsayer. I want to be optimistic about the economy just like the next man, but sadly the fundamentals reveal we are in serious trouble. As investors pull out of the Pound, whilst our economy shrinks rapidly, with house prices plummeting and unemployment rising, where do we think we are headed, honestly? And this is before we have even taken into consideration the fact that banks will not lend to each other let alone us or businesses. Money is debt educated yourselves as to what that means if you dont already know. Perhaps Capitalism is not infallible its greatest fault does not lie with any of its actual mechanisms; that is purely reserved for the way in which it has somehow instilled a belief in the majority that it is the only possible viable system that could ever be used. This kind of thought is also known as closed mindedness. Perhaps this is Capitalisms most remarkable achievement it has become invincible with this little lie alone.

J
http://www.socialhacker.co.uk

Category:

News & Politics

Tags:

• bank
• bailout
• market
• crash
• lehman
• brothers
• stock
• asset
• bubble

[NWOConspiracyGroup]

@BOLSHEVIXTREME - They are creating a North South divide in the UK. The rich or prosperous in the South and the Jobless/poor in the northern regions. The rich get help because they buy their way into Labour or Conservative and make themselves Lords. And yes they do get paid to be a Lord in the house of commons. Once in, they change the laws to benefit their businesses. Britain is finished and will never recover from this as we have no assets. Everything belongs to foreign investors.

[trogers316]

#iagreewithnick

[BOLSHEVIXTREME]

why is it that when rich people need help from the government, they receive it at the snap for a finger

but then working class and poor people need help they have to constantly beg and protest for even a little assistance?

the government will say to us "well at least we saved your money"

well i say we ask "well why was our money in danger in the first place, when we place our faith in the banks to take care of it for us?"

[BOLSHEVIXTREME]

political correctness?

what the hell has that got do with banks?!

[neutonik]

religion is only a front to frighten and secure the sheeple. the people at the top know that religion is bullshit. religion is about controlling the majority using rules written by "god" and earning tax free capitol.

the NWO is being directed by the world bank / federal bank and governments will follow because they will forever need that new "loan".

it wont stop untill the banking system changes.

[thefayed]

The pound is actually starting to rise, as are stockmarkets. Eventually house prices will bottom out, whilst look at Germany and Japan GDP if you think countries with manufacturing are in a better position than the UK. I agree in the long-term we need more manufacturing, but right now even if we had loads many countries would not be purchasing the products.

[freedombiteback]

Their are all members of a secret society, Freemason's the Anti-Christ!(puppets to the interbred Elite)But they are not aware of the real secret of Freemasonry,the Secret is the enlightened one, the illuminated one, the light bearer,and who is this light? well Lucifer! and Lucifer is god!!(you would keep that quiet eh?)and they plan to enslave the planet on a global plantation of dumb down sheeple!.Ps Please don't believe me research yourselves on here,youtube the New World Order (NWO = OWN).

[EeeCee1]

I was more interested in the economy, but, that is a good backing track !

[guslingus]

Hey who did this version of teen Spirit..?

[Finnbar01]

Everybody has a part to play in this. From the bankers to the unsrupulous mortgage brokers to the greedy public to the reckless back hand politicians. Is Capitalism to blame? Absolutely not, the system was misused and abused. What we can definately blame is political correctness.