The world economic situation

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Re: The world economic situation

Postby Morganlefay » Wed Oct 08, 2008 1:55 pm

edit -Just a thought. Time to put your money in an Islamic bank?
Sharia banking doesn't allow for the unfunded credit transfers that have fecked the US/EU system.



Put your money into Canadian banks....they are pretty stable at the moment

Ten years ago this fall, after his government rejected a pair of proposed bank mergers, the financial community was awash in dire prophesy: Canadian banks were too small to compete with their bulked-up neighbours to the south, the critics complained.

They were too insulated to remain relevant in a global economy characterized by lightning change and mind-bendingly complex products.

Yet today, amid the worst financial crisis in a generation, those predictions have been turned squarely on their head. While Wall Street titans succumb to a credit meltdown, spreading their contagion to Europe, the Canadian banking system has emerged as the most stable and best performing in the world.


http://www.theglobeandmail.com/servlet/ ... y/Business

:galdancin:

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Re: The world economic situation

Postby westgatepaul » Sat Oct 18, 2008 11:33 am

Just saw this post so thought I'd put in my twopennth worth. The problem as I see it is the "triumph" of capitalism, inasmuchas post 1990 the vast majority of countries in the world accepted the free market as the only way forward. As capitaism has been changing constantly over the last 400 years or so to meet the inherent problems with capitalism itself we are just experiencing another "adjustment". So long as we need to eat, have shelter and want things, as long as people will grow food, build buy and sell shelter, manufacture things there is no need to worry. After a few years the economy will settle down, bankers/brokers etc will continue to trade and tax payers will continue to pay for other peoples gambling, it's just the way we have allowed ourselves to be controlled by states.
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Re: The world economic situation

Postby Harbinger » Mon Oct 20, 2008 7:30 am

No bailout?

Deflation
Housing prices drop to a realistic level.
Auto industry tanks.
Alot of people lose their 401k's which technically didn't even exist to begin with.
Golden parachuts deploy
Responsible banks fill the void, causing smaller banks to jump to the next tier.
US military returns to the USA where it belongs.
US military bases around the world begin to close and be sold to the local governments.
Spending drops by 60%
Corporate America starves
People start saving money again
Gold surges
Internet retailing booms
People become more active and engage in more hobbies.
People begin inventing useful technologies.
Alot of really bad protectionist legislation gets passed.

People begin to accumulate real capital and the market slowly recovers.
People practice legitimate fiscal conservatism.
A new generation is born and becomes fat, lazy, and ignorant off the success of their forefathers.
Gluttony insues, and the market crashes because there is no value to the assetless currencies.

Rinse, lather, repeat.
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