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Posts Tagged ‘Credit crunch

Happy Credit Crunch

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The Queen on credit crunch card

Cheery news for some!

OK so don’t expect too much good news to come out of today’s Queen’s Speech (provided by Mr. Broon), apparently it will detail even more ways for the state to make us prove who we are and make us carry an ID Card, secret inquests may be introduced, councils may be given the power to use lie detectors against you, and just to cheer you all up those who are unfortunate enough to lose their jobs under the economic direction of Herrs Brown and Darling will now be “hassled” as they claim Job Seeker’s Allowance.

Looking on the bright side you will be able to purchase some Credit Crunch Cards to send to your less fortunate friends and family this Christmas, just to remind them of the economic conditions caused by this Labour government the Americans, something to remind them that they do have a sense of humour buried deep down in their depressed minds.

Oh well, I’m glad to see that someone has managed to find an enterprising idea that will make a nice fat healthy profit out of Broon’s economic mismanagement!

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Written by curly

December 3, 2008 at 9:57 am

A crisis of statism

with one comment

Is the current global financial turmoil a crisis of capitalism?

It is not, according to Pierre Lemieux, it is has been caused by over regulation and statism.

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Written by curly

October 1, 2008 at 11:32 am

Posted in Economics, News

Tagged with

Bank bail outs

with 3 comments

Credit crunch or bad business?

Financial institutions in the United States and over here have had a few years where they have extended borrowing based upon very risky assets, namely bricks and mortar, whilst home prices have surged. Inevitably, sometime, the price bubble was going to burst and the financial risks are quite massive. A good model for business or a risk strategy loaded with doom?

I wonder, as many Americans do, if it is the job of governments to prop up institutions who are failing because of their business practises? Is it the tax payers obligation to take on the mortgage risk, and put governments in the same position as short sellers?

The Bush strategy seems to be to take on the debts and try to sell them on when the markets improve, hoping to provide some small profit for the tax payer.

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Written by curly

September 26, 2008 at 10:08 am