Trump is my favourite comedian of the year already (15 Viewers)
- Thread starter tisza
- Start date
Can you explain to me why we lost the confidence of lender's in 2008 -10 because of something that occurred on the other side of the world?
It’s a long time ago but googled the bond yields at the time of the financial crisis and they were low/normal so dont think we lost confidence of people buying government bonds. The government and BoE decided we needed QE/print to get liquidity into the banking system to stop it collapsing and encourage lending to continue to minimise impact on the wider economy. Basically various banks would’ve gone bust otherwise. other countries inc US did the same.
Unfortunately the world hasn’t really stopped QE/printing since.
Remember my arguing for the Gov't to use through people paying down their loan's at the time getting twice the bang for the buck.
What did I know?
Sky_Blue_Dreamer
Well-Known Member
Printing money to save banks who got themselves into shit
Printing money to invest in infrastructure
Printing money to save banks who got themselves into shit
Printing money to invest in infrastructure
Two things SBD, I’ve said QE to help the economy grow and on infrastructure is fine as long as it’s controlled and doesn’t cause massive currency debasement (otherwise governments may as well be honest and just tax us all more cos that’s pretty much the end result - we have less purchasing power)
The saving the banks thing is complicated. Gordon Brown and others in the international community felt if they hadn’t propped up some of the major banks the whole banking system would’ve collapsed; there would’ve been runs on major banks, people not being able to get their money out, no lending for mortgages or company loans etc etc. All causing a massive depression, far worse than what we got. They saw it as the lesser or two evils. I don’t know whether this would’ve happened or not but they judged it would’ve and we’d already seen a run on northern rock and other smaller banks and lehmans had collapsed, HBOS was on the verge of collapse and had to be bought by Lloyds, so I’m guessing so
The major issue I had with the banking crisis is that nobody got prosecuted, bonuses earned under false pretences werent returned etc. basically pure, dangerous greed had no consequences. It was a disgrace
ps the big short is well worth a watch
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Sky_Blue_Dreamer
Well-Known Member
That's fair enough.Two things SBD, I’ve said QE to help the economy grow and on infrastructure is fine as long as it’s controlled and doesn’t cause massive currency debasement (otherwise governments may as well be honest and just tax us all more cos that’s pretty much the end result - we have less purchasing power)
The saving the banks thing is complicated. Gordon Brown and others in the international community felt if they hadn’t propped up some of the major banks the whole banking system would’ve collapsed; there would’ve been runs on major banks, people not being able to get their money out, no lending for mortgages or company loans etc etc. All causing a massive depression, far worse than what we got. They saw it as the lesser or two evils. I don’t know whether this would’ve happened or not but they judged it would’ve and we’d already seen a run on northern rock and other smaller banks and lehmans had collapsed, HBOS was on the verge of collapse and had to be bought by Lloyds, so I’m guessing so
The major issue I had with the banking crisis is that nobody got prosecuted, bonuses earned under false pretences werent returned etc. basically pure, dangerous greed had no consequences. It was a disgrace
ps the big short is well worth a watch
I guess for me I think that bailing out the banks just meant that it leaves the same shit to continue in the future. Another crash will come because of reckless investing and those that benefit won't be held to account and get to keep the millions they earned along the way. For me when that happens it's the chance to properly reform a system that at best is broken, at worst corrupt, and it was a monumental failure to do so.
I admit that taking a sterner line would have larger short term consequences but IMO they'd be worth it to fix the system and better prevent it happening again. Of course the big challenge is controlling the narrative and making the public understand that the problems were inflicted by the banks and the money-hungry, not a government refusing to help them out.
skybluetony176
Well-Known Member
I see Hunter Biden has been found guilty on all counts relating to his gun misdemeanours. WITCH HUNT!
Alternatively just like Trump he’s bang to rights and it’s caught up with him.
Alternatively just like Trump he’s bang to rights and it’s caught up with him.
Sick Boy
Super Moderator
Thoughts on the latest going on at Coventry City?
Mucca Mad Boys
Well-Known Member
Two things SBD, I’ve said QE to help the economy grow and on infrastructure is fine as long as it’s controlled and doesn’t cause massive currency debasement (otherwise governments may as well be honest and just tax us all more cos that’s pretty much the end result - we have less purchasing power)
The saving the banks thing is complicated. Gordon Brown and others in the international community felt if they hadn’t propped up some of the major banks the whole banking system would’ve collapsed; there would’ve been runs on major banks, people not being able to get their money out, no lending for mortgages or company loans etc etc. All causing a massive depression, far worse than what we got. They saw it as the lesser or two evils. I don’t know whether this would’ve happened or not but they judged it would’ve and we’d already seen a run on northern rock and other smaller banks and lehmans had collapsed, HBOS was on the verge of collapse and had to be bought by Lloyds, so I’m guessing so
The major issue I had with the banking crisis is that nobody got prosecuted, bonuses earned under false pretences werent returned etc. basically pure, dangerous greed had no consequences. It was a disgrace
ps the big short is well worth a watch
The Big Short is a great movie, great recommendation!
On QE, I do think it’s time we call an end to it, or at least start to ween the economy off it. Brought in to prevent the scenarios you outlined, correct but as a short term measure rather than a 10+ year policy.
My concern is that it’s raising asset prices to artificial levels, making it difficult for people to get on the property ladder. Keeping interest rates artificially low too isn’t a good thing either.
Sky_Blue_Dreamer
Well-Known Member
I rater see 'QE' used to help pay for much needed infrastructure improvements than more austerity that just leads to a downward spiral. Especially considering we used QE to bail out a private sector that caused it's own problems.
Otis
Well-Known Member
No, you're wrong.
The judge was corrupt, the jury was biased, everyone is against Hunter, the trial should never have happened, he did absolutely nothing wrong. He is extra innocent.
SIR ERNIE
Well-Known Member
Biden mumbles and freezes during debate.
Perhaps he's got a cold.
www.telegraph.co.uk
Perhaps he's got a cold.
Trump v Biden latest: Top donors turn on president
Major Democrat party donors have turned on Joe Biden following his disastrous performance in the first US presidential debate, with one adviser saying the only options now were that he “bows out or dies”.
www.telegraph.co.uk
Flying Fokker
Well-Known Member
I listened to it. Trump lies through his teeth …More than the average politician. He dodges given answers to questions. Ukraine for example.
Biden was lost during the first few questions and then recovered a bit. Batteries have run down.
CNN is saying that he needs to be replaced asap.
I’m thinking the ‘floating’ voter will be feeling worse now than before the debate.
Biden was lost during the first few questions and then recovered a bit. Batteries have run down.
CNN is saying that he needs to be replaced asap.
I’m thinking the ‘floating’ voter will be feeling worse now than before the debate.
Sick Boy
Super Moderator
Neither of them should be on the ballot paper.
Brighton Sky Blue
Well-Known Member
Already got an edge in the polls that will widen with the debates I think. Hard to believe
Brighton Sky Blue
Well-Known Member
It’s a lesson that Labour would do well to learn from.No-one, I repeat, no-one, should be celebrating at the thought of a Trump victory.
It's absolute madness that the Democrats are putting Biden up again for re-election.
I don't know what the answer is in all this mess, but it certainly shouldn't be Trump.
Terry_dactyl
Well-Known Member
Just watched the clips; this is very bad. It’s incredible to me that the democrats couldn’t have found a better candidate.No-one, I repeat, no-one, should be celebrating at the thought of a Trump victory.
It's absolute madness that the Democrats are putting Biden up again for re-election.
I don't know what the answer is in all this mess, but it certainly shouldn't be Trump.
It appears that Trump was, probably deliberately, not going in too tough on him: treating him like an old man, which of course he is.
Brighton Sky Blue
Well-Known Member
The Democrats ignored better candidates in 2016 and 2020 so this is the consequence.
SIR ERNIE
Well-Known Member
Trump was very gentle on him. Obliterated him with kindness.
I said back on November that they'll find a way to replace Biden and I still believe that's likely.
Terry_dactyl
Well-Known Member
You think?! Surely it’s too late now?
Brighton Sky Blue
Well-Known Member
Surely only possible if he died?
SIR ERNIE
Well-Known Member
There's no established mechanism for it but I believe they'll find a way possibly on health grounds.
Newsom or Michelle Obama would be the replacement.
Sky Blue Pete
Well-Known Member
He’s have more chance of winning if he died
Evo1883
Well-Known Member
Not arsed about American politics, one things for certain that America does bad things whoever is in charge ..
What I will say is after watching some highlights this morning , are the Democrats really putting forward a man who is clearly on the verge of possibly dementia by the looks of him , is that the best the USA has to offer ?
What I will say is after watching some highlights this morning , are the Democrats really putting forward a man who is clearly on the verge of possibly dementia by the looks of him , is that the best the USA has to offer ?
Terry_dactyl
Well-Known Member
This is what I’d have thought.