Think about it though...America sneezed, and Britain caught a cold...
I'm afraid the situation for the US economy is far worse than a cold.Needing hundereds of billion dollars in financial rescue packages for industry and banking to prevent total collapse.
Unemployment is forecasted to rise by 700,000 by the end of this year.
UK unemployment likely to rise by 700,000 by end of 2009 - Capital Economics .
http://www.lse.co.uk/UKMoneyNews.asp?ArticleCode=pzpg50vnpgziy0s&ArticleHeadline=uk_unemployment_likely_to_rise_by_700000_by_end_of_2009_-_capital_economics
Which doesnt improve our situation here.
The recession (
our economy has been shrinking for almost a year now) termed by our state media as "the credit crunch" (
heaven forbid someone say recession) is a result of a major meltdown in the global banking systems in so much as the global financial mechanisms have ceased to function.A sort of cascade of adverse events is taking place throughout the global markets and banking systems.
There are many analysts that beleive that the UK is not far away from a situation like Iceland which has undergone massive financial crisis resulting in pretty much everyone in Iceland losing all of their savings and the Icelandic Krona being hyperinflated and worth sweet FA.
Now the IMF (
America) is offering them a lifeline in.....US $ very good for the Federal reserve (a consortium of private banking corporations)
We'll have one on the way soon.lol
For those of you who are interested in some analysis from outside the UK state media (
which so far has massively underplayed how much trouble the UK is in, they dont want to panic the punters so they all try and withdraw they're money from the UK banks and put it somewher else,remember Northern Rock? imagine that on a national scale,scary,especially for the fat cats who own this island and pretty much everything on it.)
Public Debt Crisis in the United Kingdom
http://www.globalresearch.ca/index.php?context=va&aid=11204
Britain, A Big Version of Iceland?
http://www.globalresearch.ca/index.php?context=va&aid=11207
The bailouts,most economists agree are going to be largely ineffective in the medium to long term and amount to nothing more than a humungous transfer of public money (
yes its us that have to pay the national debt everyone)into private hands really.Which should be disturbing to anyone.Especially if you live in the US
Fed Defies Transparency Aim in Refusal to Disclose
http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide
For instance our government approved a £50 billion bailout for high street banks to try and kick start the housing market.
U.K. banks get unprecedented government bailout
http://www.nationalpost.com/related/topics/story.html?id=868219
Nice one Gordon (the man who will go down in history as the bloke who stole £7 billion from our pension funds and then blamed the people who advised him not to,and not fogetting the time when he sold 50% of the UK's gold reserves just before the price DOUBLED see-http://www.taxpayersalliance.com/media/2009/01/daily-telegraph-gordon-browns-decision-to-sell-half-of-the-uks-gold-reserves-cost-uk-5billion.html)
thanks for that mate,top drawer suff.
NEWSFLASH
The UK housing market is currently losing over £1 billion pounds A DAY.
British homes losing one billion pounds per day.
http://uk.reuters.com/article/propertyNews/idUKHIL15494620080611
50 days of grace for the bankers?
You gotta be kidding me?
Thats like trying to stop a warehouse fire by pissing in the corner.
Well,if it makes headlines and to try and win votes then i guess that'l work.
We are all being played again.As usual.
Our national debt is increasing at such a rate that by 2011 our debt payments will amount to 160% of our GDP in the UK.
At the end of the day,if you see the country as the green on the map,the populous,we're pretty much gonna feel the burn from this for a good few years,and then our children will paying it all back.
If you see the country as the people who OWN the country(mostly transglobal corporations),it'l be business as usual.Robust corporations make more long term profits during recessions than they do during
any other time.
We as a nation are very much in the deep (Gordon) brown and smelly.
Here comes the euro!!
Look on the bright side At the end of the day,if they can afford to play paintball in Poland and Romania then we'll be alright..the paint will be a hell of a lot cheaper too
Yikes.
