IMF in global 'meltdown' warning !!

luvpump

Perhaps iv'e been watching too much Peter Schiff of late, but i seriously think things are going to get a LOT worse , we may even end up in a situation where all banks are part or wholly taken into Public ownership :eek:

http://news.bbc.co.uk/1/hi/business_world/7665515.stm

mewbie_2

Why doesn't GB just accuse him of being a doom mongering troll? The HeadOfTheIMF, bit like HorseInHatMan or countless others. "Global systemic meltdown", yeah right, go back to your nutty friends on HPC.

I guess it takes the heat off us reasonable bears though, we can blather on about a 25% drop in house prices and sound like the sane ones.

pickles110564

mewbie wrote: »

Why doesn't GB just accuse him of being a doom mongering troll? The HeadOfTheIMF, bit like HorseInHatMan or countless others. "Global systemic meltdown", yeah right, go back to your nutty friends on HPC.

I guess it takes the heat off us reasonable bears though, we can blather on about a 25% drop in house prices and sound like the sane ones.

It could get a damn sight worse than 25% if they dont stop the panic in the city.
By the way where does Philip Green keep his 2 billion cash that he is going to takeover iceland with?

tomstickland

Oh dear, the wheels are falling off the wagon. Nothing much we can do apart from gawp I suppose.

moanymoany

The first time anyone on here said they thought there would be 50% drops in house prices I thought - interesting thought, can't happen. After the last four weeks I'm not so sure that it is unlikely.

In May, I believed that something had to happen, that the financial situation was changing and getting worse - only on this board could I find kindred spirits. I knew 'something' had to happen although exactly what I had no idea.

It is very difficult for me not to think that the last four weeks are just the beginning. It seems that no matter what the Governments do the market keeps falling and the banks hold tighter to the purse strings.

I also wonder just how much money there is about if the government handouts are not even touching the sides. I suspect it is all a lot worse than anyone has said.

House prices were the first major sign of pending disaster, so many things have followed. Oil price is now low, but it has made no difference. Given that the vast prices we all saw - only three months ago - were what was supposedly causing chaos in the economies it is clear that other factors are at work and must be addressed before stability - never mind any kind of recovery - can be achieved.

So, back to 50% house price drops, not unlikely.

ad9898_3

pickles110564 wrote: »

It could get a damn sight worse than 25% if they dont stop the panic in the city.
By the way where does Philip Green keep his 2 billion cash that he is going to takeover iceland with?

I'm not sure he has 2 billion in cash, I'm pretty certain Bernie Ecclestone has that in cash though, read it somewhere but can't remember. On another note I heard on the radio yesterday that Abramovich (Chelsea owner) has lost 12 billion:eek:, I'd say that was serious even for him

treliac

I keep watching news programme interviews when interviewees are asked if they think we're reaching the bottom. Some still seem to think we're almost there. Whatever happens, such a massive loss of confidence in the financial marketplace is going to take a very very long time to rebuild IMO.

At a personal level, a major shift of attitudes towards money and borrowing will be needed and this won't even start until the pain is felt in the 'real' economy. As yet, it is still a theoretical problem only for the average brit.

scousethife

treliac wrote: »

I keep watching news programme interviews when interviewees are asked if they think we're reaching the bottom. Some still seem to think we're almost there. Whatever happens, such a massive loss of confidence in the financial marketplace is going to take a very very long time to rebuild IMO.

At a personal level, a major shift of attitudes towards money and borrowing will be needed and this won't even start until the pain is felt in the 'real' economy. As yet, it is still a theoretical problem only for the average brit.

The thing is the pain will be most felt by the poorest and least felt by the richest.

amcluesent

>it is clear that other factors are at work<

Yep, can't be doubted that the bankers were asleep at the wheel and have allowed the fractional reserve wheeze to come apart at the seams.

The question is that an outcome of an intrinsic flaw within the system or an externality that couldn't be adopted to.

Whatever, there's a very big 3-way play going down between the private banking cabal, international socialists and mohemmedans. People, companies, countries are going to be chewed up and spat out. The global danger is another 'Weimar Republic' with nuclear weapons.

treliac

scousethife wrote: »

The thing is the pain will be most felt by the poorest and least felt by the richest.

As is the norm :mad:

scousethife

treliac wrote: »

As is the norm :mad:

Aye the rich are seen as a sucecess in life, but all the wealthy people I know arnt particularly happy and neither are those around them.

All the rich blokes I know are having afares and all their wives know they are.

The reason is he wanted to get rich to get a lot of shags and she wanted a rich bloke at any cost.

And tats what happens when money is your goal rather than hapiness