Britain facing another financial crisis !

luvpump

http://money.uk.msn.com/investing/news/article.aspx?cp-documentid=149709161

The warning came as credit rating agency Moody's predicted the worst of the credit crunch losses were ahead of us, with Britain's high street banks set to lose another £130 billion in the coming 18 months.

:eek:

brit1234

The debts are yet to be paid and there is far more for the banks to declare. This is a fools recovery as nothing has changed. We have just delayed it with low interest rates.

mewbie_2

I think we are near a full recovery. I can feel HPI happening again, and reckon that the old bubble has a lot more life left in it. Interest rates will remain low for ever, the economy will race ahead, doesn't matter about unemployment, inflation will not rise for eighteen years and best of all my house will double in value in three or four years tops.

The talk about taxes rising and public sector cuts is just silly bear nonsense. Britain is Great again.

Fantastic.

Cleaver

brit1234 wrote: »

The debts are yet to be paid and there is far more for the banks to declare. This is a fools recovery as nothing has changed. We have just delayed it with low interest rates.

Can you give any links to examples of all the things that the banks are yet to declare?

I always thought that low interest rates are a background stimulus, one small aspect of (hopefully) many to 'help the cause'. There seems to be a few posters that think that lowering interest rates has create a sizemic shift in the economic and cultural landscape. I don't really see this. I understand that in a vague way it encourages public borrowing and spending, but I don't see it having a huge impact. I also understand that lowering interest rates increases assets such as shares and houses to some extent, but I think the recent rise in equities is as much down to a number of other factors as it is to low interest rates.

Lastly, and this is just an observation, it's interesting how some can see lowering interest rates as an important step to stablising and increasing economic output in the country, whilst others see it as just a delaying tactic before everything comes crashing down. I see it as the former.

Cleaver

mewbie wrote: »

I think we are near a full recovery. I can feel HPI happening again, and reckon that the old bubble has a lot more life left in it. Interest rates will remain low for ever, the economy will race ahead, doesn't matter about unemployment, inflation will not rise for eighteen years and best of all my house will double in value in three or four years tops.

The talk about taxes rising and public sector cuts is just silly bear nonsense. Britain is Great again.

Fantastic.

That's the spirit. Richard Littlejohn would be proud of you.

mewbie_2

Cleaver wrote: »

Can you give any links to examples of all the things that the banks are yet to declare?

Can't give a link Cleaver, because I can't be bothered, but something interesting today. Barclays has set up a Cayman Island company and sold all its bad debts to this company. They have given the company money in order to buy the bad debts, and it will be run by ex Barclays staff.

After all the funny business of the last few years, here is another example of wool being pulled over people's eyes. More Barclays shares anyone?

Bob_the_Saver

mewbie wrote: »

I think we are near a full recovery. I can feel HPI happening again, and reckon that the old bubble has a lot more life left in it. Interest rates will remain low for ever, the economy will race ahead, doesn't matter about unemployment, inflation will not rise for eighteen years and best of all my house will double in value in three or four years tops.

The talk about taxes rising and public sector cuts is just silly bear nonsense. Britain is Great again.

Fantastic.

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

StevieJ

luvpump wrote: »

http://money.uk.msn.com/investing/news/article.aspx?cp-documentid=149709161

The warning came as credit rating agency Moody's predicted the worst of the credit crunch losses were ahead of us, with Britain's high street banks set to lose another £130 billion in the coming 18 months.

:eek:

Hey Luvpump, never had you down as someone who would be agreeing with the lefties

According to the Institute for Public Policy Research (IPPR), a left leaning think tank,

globalds

Cleaver wrote: »

Can you give any links to examples of all the things that the banks are yet to declare?

I always thought that low interest rates are a background stimulus, one small aspect of (hopefully) many to 'help the cause'. There seems to be a few posters that think that lowering interest rates has create a sizemic shift in the economic and cultural landscape. I don't really see this. I understand that in a vague way it encourages public borrowing and spending, but I don't see it having a huge impact. I also understand that lowering interest rates increases assets such as shares and houses to some extent, but I think the recent rise in equities is as much down to a number of other factors as it is to low interest rates.

Lastly, and this is just an observation, it's interesting how some can see lowering interest rates as an important step to stablising and increasing economic output in the country, whilst others see it as just a delaying tactic before everything comes crashing down. I see it as the former.

her is the Barclays link
http://www.guardian.co.uk/business/2009/sep/16/barclays-sells-toxic-assets1

Low interest rates would seem sensible if the money going around the system were issued from a government with cash ...if the government is paying more for the money than it is lending it out at ...then surely this is just building up greater debts ...even if it offers a short term easing ...

mewbie_2

globalds wrote: »

her is the Barclays link
http://www.guardian.co.uk/business/2009/sep/16/barclays-sells-toxic-assets1.

Thanks for the link. I was gob smacked when I heard it this morning.

Lend them the money to buy their debts.

Hang on boys, our top financiers are back in action. It's like the last two years never happened.

Cleaver

mewbie wrote: »

I think we are near a full recovery. I can feel HPI happening again, and reckon that the old bubble has a lot more life left in it. Interest rates will remain low for ever, the economy will race ahead, doesn't matter about unemployment, inflation will not rise for eighteen years and best of all my house will double in value in three or four years tops.

The talk about taxes rising and public sector cuts is just silly bear nonsense. Britain is Great again.