david mcgee Posted October 7, 2008 Share Posted October 7, 2008 BBC and Bloomberg reporting a Capital injection will be given to UK Banks. Details will emerge over the next couple of hours. Link to comment Share on other sites More sharing options...
Jamblow Posted October 7, 2008 Share Posted October 7, 2008 This is a farce. Fair enough there is no other option. But one of my wife's best pals husband is a banker. I'll tell you what, to them this credit crunch just doesn't exist. Splash the cash ahoy! To think we are bailing out these feckers. Link to comment Share on other sites More sharing options...
Stuart Lyon Posted October 7, 2008 Share Posted October 7, 2008 I thought the BBC said the Chancellor will announce the plan before the markets open tomorrow? Link to comment Share on other sites More sharing options...
david mcgee Posted October 7, 2008 Author Share Posted October 7, 2008 I have heard a sneak preview. It is rumoured that the retiral age will be increased to 125 years old, in order to pay for it all. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 From my perspective, since I have a wee trip planned for February, let's see how quickly the pound devalues as the printing presses start to roll to pay for this. Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 From my perspective, since I have a wee trip planned for February, let's see how quickly the pound devalues as the printing presses start to roll to pay for this. Don't be too confident Geoff !! I am sure I heard the Oz $ has been doing a wee crash of its own ? Commodities and all. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 Don't be too confident Geoff !! I am sure I heard the Oz $ has been doing a wee crash of its own ? Commodities and all. It's down 25% against the US $ in the last three months and has fallen back to around 41p as against 48p. However, the cut in interest rates here yesterday was actually welcomed by the markets. Australia has room to manoeuvre from the commodities boom and is doing so. The UK, however... Link to comment Share on other sites More sharing options...
david mcgee Posted October 7, 2008 Author Share Posted October 7, 2008 Anybody heard what the tax payer will recieve in return for giving the Banks ?50 billion? Link to comment Share on other sites More sharing options...
Maximus Posted October 7, 2008 Share Posted October 7, 2008 Lol, this really is one big ole cluster****. How long do you reckon it will be until we're living off tinned food and water? After that maybe complete malitarization of the police to enforce a 7pm curfew? The whole thing is coming along beautifully.... Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 It's down 25% against the US $ in the last three months and has fallen back to around 41p as against 48p. However, the cut in interest rates here yesterday was actually welcomed by the markets. Australia has room to manoeuvre from the commodities boom and is doing so. The UK, however... Is goosed !! Still if Chins falls back with it's demand as looks possible - then Oz could be in serious trouble no ? Anybody heard what the tax payer will recieve in return for giving the Banks ?50 billion? 3 packs of polos and a sherbert dip. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted October 7, 2008 Share Posted October 7, 2008 Is goosed !! Still if Chins falls back with it's demand as looks possible - then Oz could be in serious trouble no ? Yep, Australia will go into recession if the Chinese reduce their demand for the red gold, as it were. The question mark over the world economy that hasn't been answered yet is how much Chinese domestic consumption has increased to mitigate the fact that they won't be able to export their goods. Link to comment Share on other sites More sharing options...
coppercrutch Posted October 7, 2008 Share Posted October 7, 2008 Yep, Australia will go into recession if the Chinese reduce their demand for the red gold, as it were. The question mark over the world economy that hasn't been answered yet is how much Chinese domestic consumption has increased to mitigate the fact that they won't be able to export their goods. And if it doesn't increase then China will eb in trouble too. Nice. I have heard a few things about China's economy recently. Not sounding the best. Link to comment Share on other sites More sharing options...
david mcgee Posted October 7, 2008 Author Share Posted October 7, 2008 The Dow fell another 500 points today. 150 of these points fell off as Ben Bernanke addressed the markets, shows you how much respect he now holds. ( How are these guys still running things?) I reckon the US will be watching the UK really closely to see if the bail out plan here works. If it does im sure the US and Europe will copy it, they will soon forget about EU regulations. If the UK plan fails? Link to comment Share on other sites More sharing options...
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