OMG! America says 'Yes'

Dan:_4

Chris2685 wrote: »

How is it a good thing for me? I don't have any debts apart from my student loan. I want banks to need my money so they will pay me more for it (ie pay savers higher rates).

It has nthing to do with personal debts. The hope is that there will be no more bank failures, and so banks will start to lend to each other again and be able to offer you a mortgage when you need it.

Realy

Chris2685 wrote: »

I already said that I was speaking from my purely selfish point of view, but I can see how it is nice to have jobs obviously... I just really don't think that bailing out the banks is going to make any regular persons jobs any safer. It is just going to pro-long the inevitable really.

Well US banks survive not creating billions of bad debt for UK banks. UK banks survive. We retain more jobs etc in recession.

If they had done nothing our economy would be in serious trouble. We still may be but at least with our own debt.

Ian_Griffiths_Halifax

A friend who owns a scrap yard told me the other day that he could get £300 per ton. He's been told that this is going down to £40 per ton as nobody is buying it. This might save us all from having the drain covers nicked, but it's not a good sign.

He also told me that the docks around the world are at a stand still due to finance. Nobody is sailing as the companies could run out of money part way through the journey! I'm not sure how accurate he is but he's normally reliable.

This injection of cash may just get things moving again.

kennyboy66_2

Ian_Griffiths_Halifax wrote: »

He also told me that the docks around the world are at a stand still due to finance. Nobody is sailing as the companies could run out of money part way through the journey! I'm not sure how accurate he is but he's normally reliable.

This injection of cash may just get things moving again.

If this was true, the shoppers in the UK would be looking at bare shelves already. However spot freighter rental rates have fallen so much that some owners are letting their ships stand idle.

mewbie_2

kennyboy66 wrote: »

If this was true, the shoppers in the UK would be looking at bare shelves already. However spot freighter rental rates have fallen so much that some owners are letting their ships stand idle.

I thought the port industries would be at the forefront of the recession. But the user sometimes known as Pickles who is a senior manager at Felistowe docks says business is booming - taking on staff, extra shifts, building a new terminal. So apparently they are recession proof - nice.

Generali

mewbie wrote: »

I thought the port industries would be at the forefront of the recession. But the user sometimes known as Pickles who is a senior manager at Felistowe docks says business is booming - taking on staff, extra shifts, building a new terminal. So apparently they are recession proof - nice.

Shipping volumes are down overall across the world. Perhaps Felixstowe is getting a larger share of the market.

Ian_Griffiths_Halifax

Just seen this on the BBC Website and it reminded me of this thread.

http://newsvote.bbc.co.uk/1/hi/business/7680156.stm