Credit Crunch....RANT!

Discussion in 'Waffle' started by Pyra-C, Feb 2, 2009.

  1. Pyra-C

    Pyra-C Member

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    So i'm sat here at work for whats going to be my last week due to this country being wank and too many greedy cunts in the government buying new jags and beemers. has anyone else lost there jobs because of this shit hole of a country? I dont see any hope for this place, its being going downhill for a long long time but no fucker wanted to do anything about it.
     
  2. perspective

    perspective Sex Drugs & Sausage Rolls

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    [​IMG]

    :D

    I do feel your pain though mate. It will get worse before it gets better, but it will get better (y)

    Just sign on, relax... A lot of people are saying things will start to pick up in 3 - 4 months...

    Be happy :)
     
  3. Borf™

    Borf™ Borf

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    It's more the state of the world's economy really, but the gov could be doing more to help.
     
  4. Pyra-C

    Pyra-C Member

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    I think this country is too far gone to be honest, i dont see any hope for this shit tip, unless the government get there act together, but you know what maybe it is my turn to be a dole collecting scumbag seen as though some of my mates have been one for the last 2 years maybe i can claim incapacity benefits too and i even might consider having a few kids aswell i hear you get quite alot of benefits that way pfff. But if I do sign on then im going to put the time to good use and start getting some golden guns on COD4.
     
  5. spiderfran286

    spiderfran286 "Yes, squid pro roe..."

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    these things go round and round and round and round
     
  6. Dan M

    Dan M hard gay northern bear

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    yeah, also more the banks fault than the government but i suppose now the government own the banks so......

    our sector has jus been hit by it, it was forecast that social housing had a narrow chance of escaping the credit crunch due to there always being a need for rented property especially when buying a house is so tough at the moment but it shows how the lack of credit on a global scale will affect everyone.
     
  7. perspective

    perspective Sex Drugs & Sausage Rolls

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    Well they can and they can't... Bailing out every failing business would leave us in more debt and the recovery would be longer, but at the same time not bailing anyone out wouldn't leave an economy for us to recover.

    The government are stuck between a rock and a hard place, tbh like a lot of people I would have preferred Blair to sit this one out but it shows what a bad leader he really is by jumping ship as soon as he sees a storm brewing, he could have stuck around for another year or two at least and would have done a better job of controlling this.

    But you are right Brof, they could do a lot more but it doesn't hurt to be prudent, I just think they are trying their best to not let the situation slip any further either way.

    Zimbabwe is too far gone... Post war Germany was too far gone... We've had tougher times, I was talking to my mum about the early 90s recession (which I was too young to remember), she was saying it was about as bad in terms of the squeeze it put on jobs/spending etc. Her advice was to just get on and ride it out, these things always get better eventually you just have to wait.

    But yea mate, use this time to chill out, think of it as an extended holiday, just don't get too into it :p
     
  8. Leemodnb

    Leemodnb Member

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    I've been laid off too man. I've had to sign on and its shit, but i get loads of time to get creative with music again!!

    Its time for the Zeitgeist revolution.. We're so far with technology nowadays, we don't need a monetary system. We should be a resource based community, don't need religion anymore because we have scientific fact. The world bankers still own our government and still enslave us in debt.

    If you don't know what i'm on about:

    http://www.zeitgeistmovie.com/

    Free downloads and streams. Top documentary!
     
  9. perspective

    perspective Sex Drugs & Sausage Rolls

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    Oh man I'm unsubscribing from this thread, I could talk for hours about that shit.
     
  10. Dan M

    Dan M hard gay northern bear

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    interesting post, well done
     
  11. justin_credible

    justin_credible Lurker

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    There are also some positives believe it or not.......

    Anyone looking to buy a house is in a pretty sweet spot, granted if you are selling then you will get less for yours, but is this not all relative. Someone like myself, and i suspect many others on this forum, who are still in the first time buyers market, this could well be a blessing in disguise. A friend of mine has just bought a house for £85,000. Put down a 9 grand deposit, now he rents out the other room and that pays for his mortgage.

    I do feel for anyone who has lost their job tho, i think mine is at some risk. Just gotta stay positive people.
     
  12. Pyra-C

    Pyra-C Member

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    The reason we are fucked is this country doesnt produce ANYTHING apart from dirty chavs, everything is made so cheaply elsewhere why make it in England, what the government need to do is start making it easier and cheaper to actually manufacture things in this country to bring in money rather than trying to find different ways to make their pockets larger to cope with the huge amount of cash overflowing from them..bastards.

    I mean why would anyone have a factory in england and pay ridiculous amounts when they could get the same product made in china for next to nothing
     
  13. spiderfran286

    spiderfran286 "Yes, squid pro roe..."

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    what it is right

    2 types of banks

    INVESTMENT banks

    and

    RETAIL banks

    basically retail banks have a "capital" witch is the shareholders money in reserve, then the banks "lend" and "borrow" money to other people, banks, etc, they lend at a higher rate than they borrow so they make money

    an investment bank is totally different, they "invest" ther own money into other businesses or anything that needs investment.

    retail banks make money off selling mortgages, and say "Northern Rock" for example, they sold more mortgages than they can afford, so an investment bank came in and bought handfuls of mortgages from them, now each handful of mortgages mite have contain 200 mortgages, and 150 out of that 200 cant afford to keep up with payments, then the "investment" bank would have to play at being a "retail" bank to fork out for the mortgages.

    so basically, everything fucked up because the "retail" banks played at being "investment" banks, and the "investment" played at being "retail" banks. at 1st it worked but then everything went tits up.

    thats what caused the credit crunch in layman's terms
     
    Last edited: Feb 2, 2009
  14. Leemodnb

    Leemodnb Member

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    Haha, you should've heard me and my mate the first time we watched them both!! We were at Andy C in sheffield not paying attention to him at all.. just talking about those two films..

    Neil: "Everything is pointless."
    Me: "Yeah i know, i can't get those films out of my head."
    Neil: "Yeah sick tune." (overfiend double dropped with twist em out)
     
  15. spiderfran286

    spiderfran286 "Yes, squid pro roe..."

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    not strictly true my friend, my hometown of Sheffield is BUILT on its own product, Steel
    Sheffield steel is more expensive because its the finest quality steel on the planet
    japan even created a "Sheffield" in japan so they cud sell "Sheffield Steel" but there steel is crap compared to ours
     
  16. Pyra-C

    Pyra-C Member

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    fair play, i live near sheffield so i know all about the avesta bull and shit or whatever it is now, still look at all the english car manufacturers where have they gone? packed up and fucked of to japan or indo where ever the fuck they went. I rekon drug dealing or gun smuggling is the way to go, dont have to pay tax or vat on that shit
     
  17. Dustek

    Dustek Finished the PhD

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    It ain't going to happen mate. The UK (England is part of it...) stopped being a major industrial nation after WWII. In fact, it stopped being a nation living on its exports near the end of the 19th century. The UK's industrial peak was around 1870. After that the economy was based on capital earnings (investments around the world), coal exports and shipping.

    It will never again be cheaper to produce in the UK rather than China or India (after China) or Africa (after India) - except for say extremely high-tech products. The opportunity to create a world class knowledge based economy was lost well before the beginning of the 20th century (not 21st). The UK got complacent, the Germans, the US and the Japanese built more universities and trained more engineers and scientists (while the UK system trained imperial proconsuls for the Empire - learning to play cricket and rhyme in Greek instead of studying metallurgy), bye bye tech lead.

    Nowadays there is no chance of competing with China, India, Japan, the US or Germany in industry or technology. The only thing the UK can do and does well is finance/services. The City of London will keep the UK affluent if things don't get fucked up completely but the UK will not and can not become a leading industrial nation for basic economic reasons.

    Chav scum are a product, not a cause.
     
  18. perspective

    perspective Sex Drugs & Sausage Rolls

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    Wow that is a great explanation!

    An interesting point to add is that while the investment banks (i think) must have £100,000 to invest/lend/use £100,000, retail banks only need a third of whatever they want to lend (the rest is covered by the government's reserves), so in the case of Northern Rock they sold more mortgages than they could afford (essentially creating money from nothing - see the video), but the government was actually finding a portion of each sum... Which is why in the end they bailed it out, because the government needed to protect it's own assets.

    In fact because of this, every bank is pretty much guaranteed to get bailed out if they need it because the govt needs to recover the money that the banks have squandered.

    http://video.google.co.uk/videoplay...9fD4Cg&q=documentary+how+currency+works&hl=en
     
  19. spiderfran286

    spiderfran286 "Yes, squid pro roe..."

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    haha wher abouts u live?

    drug dealing mite be the way forward, but u dont wanna get caught. dealing aint just dealing, its money laundering.

    the credit crunch is the banks fault, not businesses
    read my explanation on page 1
     
  20. Pyra-C

    Pyra-C Member

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    I live in the AMAZING-ly shit town of Retford about 30 mins drive from sheff. You probably aint heard of it before because its so shit