Yet another interest rate cut

[beagle]

This is just the tip of the iceberg.  I expect that Saudi Arabia and the UAE will unpeg their currencies from the dollar before the end of the year.  The global economy will probably crash and bounce back quickly.  The US will recover nine trillion dollars after that.

I'm not so confident. Looks more like a slow-motion crash to me. The high Euro will affect northern Europe over a protracted period, and the U.S. and European consumers will be hiding simultaneously.  The northern Europeans will be leaning on the ECB to forget inflation, and the southern Europeans are facing a funding crisis as northern Europeans decide Spanish Euro debt isn't as good as  German Euro debt after all. The real  Euro-fun will come if the northern European taxpayers are asked to bail out a southern European bank.

As for Britain, Gordon has staved off every hint of recession for the last decade by expanding the public sector. He can't pull that trick again, and the bill for doing it up until now is coming in rapidly. No bank failed anywhere in the British Empire in the Great Depression, yet GB's financial oversight management achieved it in the earliest stages of this little episode (and it was also he as chancellor who set the banks' capital adequacy rules).  Now the banks are shoring up their reserves any consumer or small business with a less than AAA credit rating is going to find it hard to borrow money, which is bound to affect employment.

[ivor]

Oh certainly it will take a while.  The initial crash started late in 1929, but the US didn't hit bottom until mid 1933.  The stock market didn't fully recover until 1954.  I don't think we've had our crash yet but I think it's coming.

American consumers and businesses relied on cheap credit, the former to purchase consumer goods such as automobiles and furniture and the later for capital investment to increase production. This fueled strong short-term growth but created consumer and commercial debt. People and businesses who were deeply in debt when price deflation occurred or demand for their product decreased often risked default. Many drastically cut current spending to keep up time payments, thus lowering demand for new products. Businesses began to fail as construction work and factory orders plunged.

Massive layoffs occurred, resulting in unemployment rates of over 25%. (US) Banks which had financed this debt began to fail as debtors defaulted on debt and depositors became worried about their deposits and began massive withdrawals. Government guarantees and Federal Reserve banking regulations to prevent these types of panics were ineffective or not used. Bank failures led to the loss of billions of dollars in assets.

The debt became heavier, because prices and incomes fell 20–50% but the debts remained at the same dollar amount.

This is familiar sounding and it's all a result of cheap credit.  It's history repeating itself.

[Griffin NoName]

Of course it could all be avoided by simply re-possessing ALL the sub-prime.  On the basis of for the greater good....... might teach a few philosophers a thing or two

[ivor]

Another 25 basis point cut on Sunday followed by a 50-75 basis point cut this coming Tuesday.

http://www.arabianbusiness.com/513896-emergency-us-rate-cut-adds-to-gulf-currency-woes?ln=en

[Bob in a quantum-state-of-faith]

Another 25 basis point cut on Sunday followed by a 50-75 basis point cut this coming Tuesday.

http://www.arabianbusiness.com/513896-emergency-us-rate-cut-adds-to-gulf-currency-woes?ln=en

[sarcastic voice] Thanks, Bushya! [/sarcastic voice]  

[pieces o nine]

I think the proper form is, "Heckuva job, Bushie!"

[Bob in a quantum-state-of-faith]

I think the proper form is, "Heckuva job, Bushie!"

Yeah.

I wish that he and his would have a Close Encounter With A Live Hurricane.

Preferably, when they all are in a Very Small Boat, Far, Far from Shore.....

Aaaah, but I dream....

[Sibling Zono (anon1mat0)]

Technically speaking, the boat would be destroyed quicker close to shore, but the sad part would be the loss of the coast guard team appointed to save them...

[Swatopluk]

I'd prefer Shrub and Chain-Eye going on a hunting trip and accidentally shooting each other in the face (non-lethally but leaving life-long distortions).
Well, actually I have some less pleasant ideas for the whole cabal but it would violate too many rules to be too explicit about them (especially simce some of them include boiling liquids and wild angry animals)

[Sibling Zono (anon1mat0)]

I would like some poetic justice in that case

[Bob in a quantum-state-of-faith]

I'd prefer Shrub and Chain-Eye going on a hunting trip and accidentally shooting each other in the face (non-lethally but leaving life-long distortions).
Well, actually I have some less pleasant ideas for the whole cabal but it would violate too many rules to be too explicit about them (especially simce some of them include boiling liquids and wild angry animals)

On the other hand-- those life-long distortions are already apparent, to anyone who looks closely.

Evil will out, one way or another.   What is more fitting?  An otherwise unmarked countenance that is distorted from all the evil spewing forth from within?

Not to mention, the treatment of these by the History Writers... already Poetic Justice is happening, and bushya's regime is being touted as the WORST EVER in the History of the US.

That is saying A LOT, 'cause we've had some doozies in the past.

[pieces o nine]

I would be proud to see the entire cabal in the Hague before the ICC.


~ ~ ~ ~ ~ ~ ~ ~ ~
And 'harshly interrogated' to recover *all* the bank accounts, acknowledged and hidden [since such is neither torture nor illegal by their own definitions] and 100% of those moneys used to care for the victims of their regime.

[Bob in a quantum-state-of-faith]

I would be proud to see the entire cabal in the Hague before the ICC.


~ ~ ~ ~ ~ ~ ~ ~ ~
And 'harshly interrogated' to recover *all* the bank accounts, acknowledged and hidden [since such is neither torture nor illegal by their own definitions] and 100% of those moneys used to care for the victims of their regime.

Po9, I'm in your debt.

Your image conjures up such Justice, that I'm moved to reply.

I imagine that W will stay closely in the US after he's out... lest he be grabbed up and put on a well deserved Trial for Crimes Against Humanity.

Cheny?  He'll be dead soon enough, whenever his pacemaker fails..... I keep having fantasies about sending him a Microwave Oven.....

[Sibling Chatty]

Shrub will be on a plane to South America to No Extradition (he hopes) Land BEFORE the Obama family gets their luggage in the White House door.

I'm kinda hoping somebody shoots down the plane and eliminates the need for all the trials.

I still say shrub will advance-pardon Cheney, resign and have Cheney advance-pardon him.

THEN, and only then, will I be in favor of extraordinary rendition, to get those two and haul their mangy butts to the Hague.

Mostly, I wanna put their faces on a Dia de los Muertos pinata, and beat the crap outta them.

[Bob in a quantum-state-of-faith]

Shrub will be on a plane to South America to No Extradition (he hopes) Land BEFORE the Obama family gets their luggage in the White House door.

I'm kinda hoping somebody shoots down the plane and eliminates the need for all the trials.

I still say shrub will advance-pardon Cheney, resign and have Cheney advance-pardon him.

THEN, and only then, will I be in favor of extraordinary rendition, to get those two and haul their mangy butts to the Hague.

Mostly, I wanna put their faces on a Dia de los Muertos pinata, and beat the crap outta them.

Wanna chip in on a microwave for Chain-eye?