Northern Rock nationalised

Former Member

BlackArab wrote: »

The experiences of rail and bus users here are unfortunately not that positive. We've had protests, fare strikes etc and its possibly one of the most regular topics in the local press and letters pages.

http://www.ft.com/cms/s/0/b57e3d12-cdf8-11dc-9e4e-000077b07658.html

http://www.thisisbath.co.uk/displayNode.jsp?nodeId=163491&command=displayContent&sourceNode=163155&contentPK=19691903&folderPk=89096&pNodeId=163082 (with comments)

So what we want to do is privatise London and nationalise Bath

Former Member

Flashman's Ghost wrote: »

So what we want to do is privatise London and nationalise Bath

It wasn't just Bath but everything for about a thirty mile radius around Bristol but yes I'd vote for anyone who promised to implement you're suggestions. :thumb:

Former Member

Even better news from the Government of Great Britian, who've announced that they're not nationalising the private offshore trust that contains most of Northern Rock's best mortgages.

Story.

This lot couldn't run a fucking bath.

In the same time the French government managed to sort out £5bn of losses with their biggest bank Bottler Gordon and his inept cronies have managed to saddle us taxpayers with £60bn of debt. And now, even better still, we only get the shitty debts that will never be repaid; the offshore trust contractually has to get all the best mortgages and gets to make all the profit.

Not bad going. In a little over ten years Red Gordon's managed to destroy the strongest economy in Europe. Him and his pal Blair deserve some sort of prize. A high-velocity lead injection should do the trick.

Former Member

The state is bankrupt, the banking system insolvent.

The boys at the top are grabbing any and every resource they can before the whole edifce of the shell game called banking collapes around their ears.

It's not incompetence, it's self interest. If they give head to the bankers they might survive the collapse to be part of the elite that forms on the other side.

Already the americans are seeing their municipal bonds, insurers and other large financial institutions become insolvent - the response over there has been to create a wall of money to keep the system going. They started their housing slump before we did and ours has barely got going. The yanks have 2,000+ nukes and the latent ability to provide for themselves, we do not.

We are looking at great depression levels of economic collapse in the states and the same here in the UK. The fiat paper monetary system will finally go into history, taking a lot of people with it.

For house prices in general (leaving aside sub prime) they have to fall to about 1999-2001 or earlier prices just to be back in line with fundamentals - i.e. what people can save up 20% of and 2-3x their salary. As the average wage in most places is £20k and will be less after the massive recession, the average house price will be around 50-70k again.

Of course this won't be apparent because of all the inflation, the collapse of the pound, dollar, vanishing of all large centralised enterprises that rely upon the government and banking system to function etc etc

Northern rock is just the first pebble in a coming monetary avalanche.

Former Member

WE'RE ALL GONNA DIE!

Former Member

Kermit wrote: »

WE'RE ALL GONNA DIE!

Well, obviously.

Former Member

Shimmer wrote: »

The state is bankrupt, the banking system insolvent.

The boys at the top are grabbing any and every resource they can before the whole edifce of the shell game called banking collapes around their ears.

It's not incompetence, it's self interest. If they give head to the bankers they might survive the collapse to be part of the elite that forms on the other side.

Already the americans are seeing their municipal bonds, insurers and other large financial institutions become insolvent - the response over there has been to create a wall of money to keep the system going. They started their housing slump before we did and ours has barely got going. The yanks have 2,000+ nukes and the latent ability to provide for themselves, we do not.

We are looking at great depression levels of economic collapse in the states and the same here in the UK. The fiat paper monetary system will finally go into history, taking a lot of people with it.

For house prices in general (leaving aside sub prime) they have to fall to about 1999-2001 or earlier prices just to be back in line with fundamentals - i.e. what people can save up 20% of and 2-3x their salary. As the average wage in most places is £20k and will be less after the massive recession, the average house price will be around 50-70k again.

Of course this won't be apparent because of all the inflation, the collapse of the pound, dollar, vanishing of all large centralised enterprises that rely upon the government and banking system to function etc etc

Northern rock is just the first pebble in a coming monetary avalanche.

If what you say is true the bankers are incompetent, as they can't eat money and I bet few of them can handle a high velocity rifle or skin a rabbit, which is what you suggest we might need.

Of course you're talking bollocks in the first place - stringing together a few words like inflation and paper monetary system doesn't make it accurate (though it impresses the guilible).

We probaby are heading to recession, we're not heading for the collapse of society or anything near it.

Former Member

Well, ok.

Have a look at this -

http://www.marketoracle.co.uk/Article3570.html

http://www.federalreserve.gov/releases/h3/Current/

The US banking system is only still operational because the FED is printing up the cash and handing it out like candy..or rather it is buying or using as collateral all those sub prime loans that will never be paid back and the bonds that were issued against them. There are similar stories about the bond insurers and banks all over the internet and bloomberg etc if you can be bothered to find them.

Society will be fine, but the state is going to fail to pay it's bills in the near future and the banks are going to either go bust or hyperinflate. This is just maths.

Oil, gold and food are at their highest in decades, in some cases ever. Those in the know are buying stuff that will last like a poor pensioner hoarding tinned food for winter.

George Soros calls it "The worst financial crisis for 60 years" and says that basically it's over for the west.

http://www.ft.com/cms/s/0/24f73610-c91e-11dc-9807-000077b07658.html

Former Member

promethean wrote: »

The fed set low interest

thats not a cure all, its a fucking stupid thing to do

Former Member

Lets hope they don't nationalise northen soul.