Germany takes hot seat as Europe falls into the abyss - Telegraph


How bad is it going to get? We're going to need a bigger superlative.
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Originally Posted by Wowbanger TIP:
Germany takes hot seat as Europe falls into the abyss - Telegraph


How bad is it going to get? We're going to need a bigger superlative.

We first have to look at the foundations of the mess. As you know from the house crash thread I started yonks ago I believe that we have based our economies on continually inflating proprty prices. So now the blow out is over and we have to look at the aftermath.

The 'experts' are frantically scrabbling around trying to get the 'credit flowing again'. Well my bet is that if you are in a financially sound position credit is not a big issue to get. They just don't want to lend to risky borrowers.

So, what we need (their oppinion not mine) is more borrowing to re-start the party. Well as long as house prices remain on a downward trend people will not consume. They certainly won't borrow to spend (equity release etc). It's time for pain killers and water.

Of course the property people will come out with the same old ****....'they don't build land etc, etc', so prices will stabilise soon. The biggest myth however IMO is this.

WE NEED MORE HOMES !

Well I'm not so sure. I think we have enough houses. The last thing we need is a huge social house building programme. That sector of the market will breed and fill any number of free homes you care to build! No, I think that the housing market is dead and for quite some time yet. Spending will continue to slow and unemployment will rocket.

Then...alll the consequences of an angry Britain will come to the surface. How bad will things get? Bad! Could be very bad indeed.
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BBC NEWS | Business | Market Data | Overview

Brazilian Stock Market is on the verge of total collapse, FTSE down 5%, DOW just opened. If they break now that's it, game over.

PS down 3% in three minutes.
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Watching Bloomberg this morning is better than any comedy on TV these days. (two and a half men is good)

Wheel on an expert and ask them 'how bad can things get?'

How glad am I that I stopped entrusting these idiots with my pension money.
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Why are the two dolts on BBC news reporting this as if it a slightly embarrassing irrelevance which they are obliged to report?

That's the ******* abyss right there you clowns, what are you saving the solemn face for the latest report on AIDS in Swaziland?
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The BBC are reporting the FTSE down 8%, doesn't the towel get thrown in at 10?

Jesus that's a flat-line, somebody better get the crash team in here.
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5%, 8% - pah that's nothing. Russian stock market lost 18.6% today. What happens when the Russian stock market does crash? Does it affect their militaristic plans?
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