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Thread: 'Red warning lights' flashing for global economy

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    Re: 'Red warning lights' flashing for global economy

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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by grip View Post
    We keep hearing nothing but good news for the US and British economies, but the rest of the world is slowing, which can ultimately impact us negatively. Makes me wonder what scenario is correct, and will the FED raising interest rates set off a decline or give it a boost? The Markets are higher than ever, gas is cheap, and the long drawn out mortgage crisis is in sight of ending. So what is it, sunny sailing ahead, dark skies or a mixed bag depending on certain key factors? Anyone's guess right now, and probably only a few major crises from another bailout? Pouring financial support into the top corporate structure of the world does not seem to be generating any real growth.
    Same bad loans are being made as were made prior to 2008. American dependence upon credit and credit spending is also growing. An economy based upon credit spending, especially bad credit, will always fall eventually. It's not a matter of if, it's a matter of when.
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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by grip View Post
    We keep hearing nothing but good news for the US and British economies, but the rest of the world is slowing, which can ultimately impact us negatively. Makes me wonder what scenario is correct, and will the FED raising interest rates set off a decline or give it a boost? The Markets are higher than ever, gas is cheap, and the long drawn out mortgage crisis is in sight of ending. So what is it, sunny sailing ahead, dark skies or a mixed bag depending on certain key factors? Anyone's guess right now, and probably only a few major crises from another bailout? Pouring financial support into the top corporate structure of the world does not seem to be generating any real growth.
    To be honest I think it is all a scam. QE is gone and ECB refuses to do QE, so cheap money is gone.. the very thing that has been giving massive profits for the top investment banks in the world which are almost all situated in the US and UK.. the two economies that are supposedly doing "well". These same investment banks and their pet economists are the ones promoting doom and gloom and have for a while on financial news outlets. They are pissed that they are actually going to have to work for a living instead of just making money out of nothing.

    This doom and gloom will always result in a slow down with consumers, especially in Europe where a fart can lead to a slowdown in consumer spending because they are afraid of a gas explosion.. Add to that the Ukraine/Russia cluster**** and you have a major problem on consumer confidence while exports are also falling. Why go out and buy a new car when you dont know if your job is there tomorrow or even if the country is still around..

    Like it or not the root causes of the economic collapse of 2007-9 have not been fixed and they will cause another crisis if they are not fixed. It is time to rethink the banking sectors of all major economies.. reinstall a barrier between investment banks and real banks and break up the biggest banks in all nations. The whole financial system is out of wack.
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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by PeteEU View Post
    To be honest I think it is all a scam. QE is gone and ECB refuses to do QE, so cheap money is gone.. the very thing that has been giving massive profits for the top investment banks in the world which are almost all situated in the US and UK.. the two economies that are supposedly doing "well". These same investment banks and their pet economists are the ones promoting doom and gloom and have for a while on financial news outlets. They are pissed that they are actually going to have to work for a living instead of just making money out of nothing.

    This doom and gloom will always result in a slow down with consumers, especially in Europe where a fart can lead to a slowdown in consumer spending because they are afraid of a gas explosion.. Add to that the Ukraine/Russia cluster**** and you have a major problem on consumer confidence while exports are also falling. Why go out and buy a new car when you dont know if your job is there tomorrow or even if the country is still around..

    Like it or not the root causes of the economic collapse of 2007-9 have not been fixed and they will cause another crisis if they are not fixed. It is time to rethink the banking sectors of all major economies.. reinstall a barrier between investment banks and real banks and break up the biggest banks in all nations. The whole financial system is out of wack.

    The root causes of the 2007-2009 economic collapse in America was in fact Government intervention into the private sector for the purpose of addressing the massive false narrative of discriminatory lending practices

    That was the ROOT cause. Government mandated lowered standards on lenders and the GSEs

    In Europe it was just a bunch of corruption and Socialist policies gone bust.

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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by Fenton View Post
    The root causes of the 2007-2009 economic collapse in America was in fact Government intervention into the private sector for the purpose of addressing the massive false narrative of discriminatory lending practices
    Holy **** that falsehood has taken hold. NO, no no no no. No one forced US banks in selling sub-prime mortgages that not even Fannie and Freddy would touch.. which in 2006 was a huge majority of all mortgages.

    That was the ROOT cause. Government mandated lowered standards on lenders and the GSEs
    Again NO. False, Fox News bull****. The only thing the government "mandated" was allowing banks to sell mortgages aka securitize them to Fannie and Freddie Mac and these loans had lower requirements than what the normal market would give out.

    However the mortgages that caused the crisis were so ****ty and outside any regulation, that they could not even be securitize through Fannie and Freddie. You had freaking pizza delivery people selling mortgages to out of work people for **** sake.. because banks were allowed to do so as there was no rules against it.

    Private sector loans, not Fannie or Freddie, triggered crisis | Economics | McClatchy DC

    Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that's being lambasted by conservative critics.
    More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
    Now the irony is, that without Fannie and Freddie... most American home owners would NEVER QUALIFY for a freaking mortgage!

    In Europe it was just a bunch of corruption and Socialist policies gone bust.
    What "socialist policies" and corruption? You right wingers keep throwing that crap out and never back it up with actual facts.
    PeteEU

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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by PeteEU View Post

    ....

    QE is gone and ECB refuses to do QE, so cheap money is gone

    ......
    The ECB is not so much refusing to do QE as waiting to see if it is legal.

    But cheap money in Europe is certainly still there. A customer of mine just refinanced at 1.55% pa on middle term debt. That is pretty cheap.

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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by joG View Post
    The ECB is not so much refusing to do QE as waiting to see if it is legal.

    But cheap money in Europe is certainly still there. A customer of mine just refinanced at 1.55% pa on middle term debt. That is pretty cheap.
    It is legal, but German resistance is the problem. And even if it was not "legal", then it would take under a day to make it legal.. so /shrug.
    PeteEU

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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by Fearandloathing View Post
    The OP is wrong. Canada, Germany, Norway are all growing above 2%

    After seeing the economic forecasts produced by the independent Bank of Canada, I will allow that Britain and the US are in for hard times again, but as with the '08 crach, some of us were exempt
    What exactly makes the Bank of Canada independent?
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    Re: 'Red warning lights' flashing for global economy

    Quote Originally Posted by PeteEU View Post
    It is legal, but German resistance is the problem. And even if it was not "legal", then it would take under a day to make it legal.. so /shrug.
    It certainly is counter the treaty's wording. There can be no honest doubt there. But it is not yet legal either, as far as I remember. Was it not referred to the European Court to check consistency with the treaty and with the Bundesverfassungsgericht reserving later judgement?
    You see, the BVerG would have to decide the opposite of what it said in an earlier decision to make it legal. That is rather ify in on a continent that is growing annoyed with the EU shenanigans.

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    Re: 'Red warning lights' flashing for global economy

    I don't believe all this stuff about the US and UK being the only two good economies that are growing. The drumbeat we've heard for years now about China blowing our doors off just doesn't jive with this.
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