In the interested of tax payer, shares in Northern Rock have been suspended and plans are in place to propose nationalization.
However there is a major stumbling block will the Conservatives lend their support to nationalization.
Why should they, resistance or even a delay will no doubt harm Labour and may well result in the chancellor stepping down. Nothing like giving the opposition ammunition and there is very little chance they will lend their support just because the country needs them to.
Labour have effectively walked away from proposals from within the bank and from Richard Branson consortium therefore Labour has effectively burnt its bridges and given themselves very few options, none of which are ideal.
Should we bail out banks that are stupid enough to lend to those that can’t afford to pay their debts?
The only real option is to take on no more debt, factor off whatever debt they have and give back investors there money which no doubt the Government will have to borrow from another bank to pay for!
At that point five things happen.
The tax payer will gets shafted again as expected.
Banks will realize they actually have to lend responsibly.
Many people will lose their homes and end up renting to landlords that bought property for way below market value.
Property prices will crash and people in rented accommodation will be able to pay back some of their personal debt, thereby helping the economy as savings and buying increase with real money.
As people become more solvent, property prices will start climbing again so we can enjoy this madness for another cycle.
Monday 18 February 2008
Northern Rock has hit rock bottom.
Is America in recession or bankrupt?
America is in turmoil, we know that the mortgage crisis is still spiralling as banks have to make some sort of loss disclosure for their annual accounts. No matter how they manipulate the figures it just does not look good for the USA economy.
Government debts are at an all time high.
If you really want some up to date figures stop by http://www.brillig.com/debt_clock/
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 19 Feb 2008 at 12:26:47 AM GMT is: $9,298,301,025,160.49
Just in case all those numbers confuse you that over $9.29 trillion dollars, or $9.29 million, million dollars.
It is a ledged that the Bush administration has shelved a report commissioned by the Treasury that shows the U.S. currently faces a future of chronic federal budget deficits totalling at least $44 trillion in current U.S. dollars. Needless to say treasury secretary Paul O’Neill was fired in December may or may not be a coincidence. Irrespective if the $44 trillion is fact or fiction the $9.29 trillion is very real debt that
No wonder Bush is off hiding in Africa, even an idiot must eventually realise that ever trick in the book is still a trick, reality will prevail.
If you are looking for his latest trick check out www.EconomicIndicators.gov this website tracking U.S. economic indicators is being closed down due to lack of funds! Or could it be a way of closing down information more reporters could use to prove that America is not just in recession but is technically bankrupt!
Government debts are at an all time high.
If you really want some up to date figures stop by http://www.brillig.com/debt_clock/
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 19 Feb 2008 at 12:26:47 AM GMT is: $9,298,301,025,160.49
Just in case all those numbers confuse you that over $9.29 trillion dollars, or $9.29 million, million dollars.
It is a ledged that the Bush administration has shelved a report commissioned by the Treasury that shows the U.S. currently faces a future of chronic federal budget deficits totalling at least $44 trillion in current U.S. dollars. Needless to say treasury secretary Paul O’Neill was fired in December may or may not be a coincidence. Irrespective if the $44 trillion is fact or fiction the $9.29 trillion is very real debt that
No wonder Bush is off hiding in Africa, even an idiot must eventually realise that ever trick in the book is still a trick, reality will prevail.
If you are looking for his latest trick check out www.EconomicIndicators.gov this website tracking U.S. economic indicators is being closed down due to lack of funds! Or could it be a way of closing down information more reporters could use to prove that America is not just in recession but is technically bankrupt!
Security Toolbar 7.1 is a scam...
Having just had my computer hijacked by Security Toolbar 7.1 which is screwing up my computer and recommending I buy some extortion ware more commonly known as rogue anti spyware.
For your information this Security Toolbar 7.1 pretends to be a video code update then it screws with your computer so it is safe to say do not buy any of the following products.
Win PC Doctor
WinSpy Control
AntiSpy Kit
Virus Ranger
WinSecure Antivirus
I did find a decent web site that has checked many of the products available and recommends a handful of products. The site is at http://www.spywarewarrior.com/rogue_anti-spyware.htm#trustworthy
To be fair it was my own fault I am off my lap top as I have exceeded my USB 3 GB download therefore back on to my old desk top that is rather antiquated with considerably less protection than my lap top.
I have personally used Spy Sweeper, Spy Doctor and Nod 32, all are good and all have particularly good reviews. What I will say is nothing will catch everything so it is a good idea to have a few solutions and run each one, one at a time if your having problems.
As a quick fix you may be able to do a window restore to the previous day, if this is an option, back up your important files and try this. This worked for me and cost me nothing. It should work in Vista and XP, not sure about Macs.
If you come across any other spyware products that manufacturers should be in jail for them please comment.
For your information this Security Toolbar 7.1 pretends to be a video code update then it screws with your computer so it is safe to say do not buy any of the following products.
Win PC Doctor
WinSpy Control
AntiSpy Kit
Virus Ranger
WinSecure Antivirus
I did find a decent web site that has checked many of the products available and recommends a handful of products. The site is at http://www.spywarewarrior.com/rogue_anti-spyware.htm#trustworthy
To be fair it was my own fault I am off my lap top as I have exceeded my USB 3 GB download therefore back on to my old desk top that is rather antiquated with considerably less protection than my lap top.
I have personally used Spy Sweeper, Spy Doctor and Nod 32, all are good and all have particularly good reviews. What I will say is nothing will catch everything so it is a good idea to have a few solutions and run each one, one at a time if your having problems.
As a quick fix you may be able to do a window restore to the previous day, if this is an option, back up your important files and try this. This worked for me and cost me nothing. It should work in Vista and XP, not sure about Macs.
If you come across any other spyware products that manufacturers should be in jail for them please comment.
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