Posted September 29, 2008 Like it or not this is really will affect you- and it is very bad news this has failed- ask me questions. Share this post Link to post Share on other sites
Posted September 29, 2008 *Wonders what this is about* *Goes to Google News and BBC World (and US) News* *Sees nothing related to the subject* *Is confused* Share this post Link to post Share on other sites
Posted September 29, 2008 I assume it has to do with the money they were trying to put into banks that were/are about to go under or something. It had to be voted on, so I guess that failed? If not, then I have no idea what this thread is about. A bit more information when starting a thread would be nice really. Share this post Link to post Share on other sites
Posted September 29, 2008 Damn, I was sure they would pass that bill, how could they not? Surely not passing it would do more long term damage than passing it? I don't know much about how economies and stock markets work, but I'm damned confused as to why the American economy effects the rest of the world so widely... it's like they sneeze and we get the flu, wtf? Tons of jobs are being lost and factories closing/in trouble in my little corner, you can't walk down a street in the city without seeing at least one closed down shop/office with "For Let" signs. And my office is hanging on by fingernails, damnit. When I drove to work this morning I passed a petrol station and unleaded petrol was down to 1.19 euro per litre, it's been months (maybe a year) since I seen it before 1.20, on the way home passed the same station and it had jumped to 1.24, I never seen that kind of jump in that time frame before. The US better have some other idea on how to fix their mess, then the rest of us can start getting better again. God knows the elections in November could save or destroy us all Share this post Link to post Share on other sites
Posted September 29, 2008 ^ The US economy affects the whole world because many world banks borrow money from each other. And because of big banks in the US going under, banks around the world are being tight fisted about lending money. That's basically the jist of why it affects us. There are other reasons as well but I can't remember them. Share this post Link to post Share on other sites
Posted September 29, 2008 Fuck them! Is this the restart of US isolationism or something? I bet it was that Pelosi bitch... Share this post Link to post Share on other sites
Posted September 29, 2008 Fuck them! Is this the restart of US isolationism or something? I bet it was that Pelosi bitch... Is was the Republican party, not the democrats that voted against it in large numbers. I think the majority of the house on both sides wanted it passed, but they didn't want it to pass with them voting for it because a lot of them are up for re-election soon. Ah well. US Economy: Beter Dead Than Red Share this post Link to post Share on other sites
Posted September 29, 2008 *Wonders what this is about**Goes to Google News and BBC World (and US) News* *Sees nothing related to the subject* *Is confused* He's talking about the 700 billion bank bailout with taxpayer money. Share this post Link to post Share on other sites
Posted September 29, 2008 I never knew what this was about untill someone explained it. Didn't even hear about this. Well this sucks. The world is really in the crapper just now... Share this post Link to post Share on other sites
Posted September 29, 2008 I found it hilarious. The stocks on both sides of the atlantic went up when Billy Boy proposed the bill, and now they're crashing even worse because it got rejected. People are too damn flakey and hungry for money. We just gotta buck up and cut costs! Share this post Link to post Share on other sites
Posted September 29, 2008 Is was the Republican party, not the democrats that voted against it in large numbers. I think the majority of the house on both sides wanted it passed, but they didn't want it to pass with them voting for it because a lot of them are up for re-election soon. Ah well. US Economy: Beter Dead Than Red Stupid, stupid Republicans ... The US of A is one of the biggest, richest, and most powerful countries in world, yet they still manage to fuck so many things up so badly. It's like the old school character roles: The sporty, handsome guy = stupid; the intelligent guy = physically weak and not very attractive. (America being the stupid guy, obviously ...) ... Sigh. Share this post Link to post Share on other sites
Posted September 29, 2008 Stuwii, how do you predict the british economy will look in 12 months time? What about western markets as a whole, and compared to the other world markets? Semi-serious question, as I found the phrasing of the original post quite hilarious, and also as if Stuwii was presenting himself as an authority on the news(which he did not present so well). I half find this hilarious, half find it quite sad as of course there's gonna be knock on for the rest of us, and this whole Bradford and Bingley shit isn't good either. British economy is heading right down the shitter for a good few years methinks, best thing you guys wanna do is clear your debts and get yourselves cash monies. Cash is the best thing to have in a recession, right? Share this post Link to post Share on other sites
Posted September 29, 2008 The silver lining is that this helps Obama. Unfortunately this is a very thin silver lining on a cloud the size of africa. Share this post Link to post Share on other sites
Posted September 29, 2008 The silver lining is that this helps Obama. Unfortunately this is a very thin silver lining on a cloud the size of africa. Anything that will get Obama in the white house (black house moar liek) is a good thing. McCain is a angry old coward by any standard Share this post Link to post Share on other sites
Posted September 29, 2008 Anything that will get Obama in the white house (black house moar liek) is a good thing. McCain is a angry old coward by any standard lol what? Even hardcore democrats wouldn't call him that in debates. The man voluntary stayed in a Vietnam POW camp cause other prisoners didn't get released. I mean really you think you could do that? Hell lasting a month in one of those places would be a fucking nightmare. If your standard is higher than that and you dont think youd be crying for you mum after a few days then you must be a badass bastard. On the Bill its pretty fucked up I wonder what the benifits of this are. I guess less national debt but dont know if long term it was the right desicion. Very American market led response maybe the market will correct itself but ive no idea about economics :/ Share this post Link to post Share on other sites
Posted September 29, 2008 I mean really you think you could do that? Compare him to Obama in the recent Presidential debate - when does Obama look at the camera to address America, when does Obama extend a hand to McCain, when does Obama try to look McCain in the eye? All the time. McCain stands there stoic as ever, looking at either the host or down, all the time, in a disrespectful way, and definitely disrespectful to Obama, and the man is old, and no doubt has much ingrained racism (he's pretty infamous for the number of times he said gook) and he clearly thinks Obama is a joke candidate and doesn't feel he needs to look him in the eye. Going to war and getting captured doesn't make you a hero. I have absolutely no doubt that the experience was fucking terrible, but that has absolutely no sway on whether it makes him an intelligent man to rule the country. Rambo is ten times the all American hero, but is he a good man to run the country? Wait, actually yes, he probably would be, but fuck that Share this post Link to post Share on other sites
Posted September 29, 2008 ^ The US economy affects the whole world because many world banks borrow money from each other. And because of big banks in the US going under, banks around the world are being tight fisted about lending money. That's basically the jist of why it affects us. There are other reasons as well but I can't remember them. It also has to do with imports and exports. Though this probably effects Canada a lot more than the UK. Compare him to Obama in the recent Presidential debate - when does Obama look at the camera to address America, when does Obama extend a hand to McCain, when does Obama try to look McCain in the eye? All the time. McCain stands there stoic as ever, looking at either the host or down, all the time, in a disrespectful way, and definitely disrespectful to Obama, and the man is old, and no doubt has much ingrained racism (he's pretty infamous for the number of times he said gook) and he clearly thinks Obama is a joke candidate and doesn't feel he needs to look him in the eye. Going to war and getting captured doesn't make you a hero. I have absolutely no doubt that the experience was fucking terrible, but that has absolutely no sway on whether it makes him an intelligent man to rule the country. Rambo is ten times the all American hero, but is he a good man to run the country? Wait, actually yes, he probably would be, but fuck that One other thing that has me worried is the fact that McCain knows nothing about current technology. I know he probably wouldn't really need to use it that much as a president, but thats not the point. The point is that he would have to make decisions about it. I can just see this happening if he wins: Advisor: Mr. President, we have a problem with Pedophiles finding new ways to distribute child porn over the internet. McCain: What's this thing they're using to distribute it again? Advisor: The Internet, Sir. McCain: Well then ban it. And any country that doesn't follow us in doing so, well, they become the next Cuba. Not that that will happen, but I think everyone can see what I mean by it. Apparently the current polls show: McCain: 200 Obama: 240 Undecided: 98 Needed to win: 270 I think that's what the numbers were. Share this post Link to post Share on other sites
Posted September 30, 2008 Ive used credit exactly one time ( to buy a car) and vowed never to do it again so im actually happy that the bill got shot down. America has got to get out of its instant gratification/borrowing mindset and stop spending money that we dont have. I may be overly optimistic , but hopefully people will have learned alot of hard lessons by the time this blows over, which wont be anytime soon, mind you. Share this post Link to post Share on other sites
Posted September 30, 2008 Quite honestly I think that it was for the better. Giving money to banks with bankers that has put us in this situation in this first place doesn't seem the right thing to do. This people gained fortunes abusing of the consumers and using a system that eventually would lead to disaster, I think its ridiculous to be the same people that were abused by them (the average tax payer) to bail them out of this mess. What makes this much worse is the stock markets around the world, as they get scared for even the smallest of things let alone something like this. Europeans make me specially mad as we have the biggest economy (as a whole) and still get affected this badly by something that doesn't concern us that much. Feel free to enlighten me. Share this post Link to post Share on other sites
Posted September 30, 2008 It concerns us because our banks were just as greedy to turn a quick buck and so they got in on the whole thing, taking other institutions' debts on board to turn some easy money(or so I was told by a few people, correct me if I'm wrong as I never had the patience to follow it all in great detail, and I know how mistaken information easily comes about). The reason why the banks need to be bailed out though? Because all our economies are built upon them, it isn't the banks that are the only losers if/when they go bust, it's US, the people who have their money tied up with that bank! Luckily the government have instated that £35k guarantee, but I think that's pre-emptive, should every single bank go bust would they REALLY be able to acquire that money? The point isn't that though, the guarantee needs to be there so that people don't panic and take all their money away from the banks, as that would in turn lead banks to bust, from what I understand, and it's what happened with Northern Rock. Had people not panicked and started withdrawing like crazy, it probably never woulda gone down the shitter. The problem with banks is that they create money out of nowhere, it's all built on IOUs and promises, but they don't actually have all the money to give out should every single customer ask for their money all at the same time, but they can't just say no, so they go bust. The world's economies are built upon banks, the majority of the money in the world doesn't even exist! Share this post Link to post Share on other sites
Posted September 30, 2008 lol what? Even hardcore democrats wouldn't call him that in debates. The man voluntary stayed in a Vietnam POW camp cause other prisoners didn't get released. I mean really you think you could do that? Hell lasting a month in one of those places would be a fucking nightmare. If your standard is higher than that and you dont think youd be crying for you mum after a few days then you must be a badass bastard. On the Bill its pretty fucked up I wonder what the benifits of this are. I guess less national debt but dont know if long term it was the right desicion. Very American market led response maybe the market will correct itself but ive no idea about economics :/ Holy crap, you played the POW card? I thought only McCain and his staff did that! Share this post Link to post Share on other sites
Posted September 30, 2008 Generally, if President Bush thinks it's a good idea, it's a bad idea. And vice versa. Share this post Link to post Share on other sites
Posted September 30, 2008 I bet it was that Pelosi bitch... My favourite. Only because she's related to Joanna Newsom. Share this post Link to post Share on other sites
Posted September 30, 2008 Holy crap, you played the POW card? I thought only McCain and his staff did that! Share this post Link to post Share on other sites
Posted September 30, 2008 It concerns us because our banks were just as greedy to turn a quick buck and so they got in on the whole thing, taking other institutions' debts on board to turn some easy money(or so I was told by a few people, correct me if I'm wrong as I never had the patience to follow it all in great detail, and I know how mistaken information easily comes about). The reason why the banks need to be bailed out though? Because all our economies are built upon them, it isn't the banks that are the only losers if/when they go bust, it's US, the people who have their money tied up with that bank! Luckily the government have instated that £35k guarantee, but I think that's pre-emptive, should every single bank go bust would they REALLY be able to acquire that money?The point isn't that though, the guarantee needs to be there so that people don't panic and take all their money away from the banks, as that would in turn lead banks to bust, from what I understand, and it's what happened with Northern Rock. Had people not panicked and started withdrawing like crazy, it probably never woulda gone down the shitter. The problem with banks is that they create money out of nowhere, it's all built on IOUs and promises, but they don't actually have all the money to give out should every single customer ask for their money all at the same time, but they can't just say no, so they go bust. The world's economies are built upon banks, the majority of the money in the world doesn't even exist! Man, I'll never get economics. I find the concepts of money and value to be complicated. Pure gold. Share this post Link to post Share on other sites
