Ireland Announces Tough Budget
Someone shot the celtic tiger.
Ireland is still a success story - and Scotland could be too
Some straw-clutching from the SNP.
Lying Letting Agents and the Lies these Liars Tell
Renter girl lets rip. I love it.
Barclays faces investment lawsuit
Presumably, the UK taxpayer will be covering this loss also...
"Barclays is being sued in a New York court over claims it moved loss-making investments from its own accounts to those held by outside investors. The losses to investors are alleged to total hundreds of millions of dollars."
Icelandic Stocks Drop 77% as Trading Resumes After 3-Day Halt
Wipe-out
US unveils $250bn rescue plan
The great lesson of this decade is that banking crises take a generation to clean up. The fiscal costs of this mess are becoming astronomical.
"The US made its most aggressive move so far to tackle the financial crisis, unveiling a plan to inject $250bn of public money into the US banking system as part of its $700bn rescue package. Stock markets rose sharply as Hank Paulson and Ben Bernanke rolled out the terms at which the administration is prepared to plough money directly into the US’s biggest financial institutions."
Money Markets Still Stressed; Analyst Forecasts Only Small Decline in Three Month Euro Rates
Nakedcaptialism.com thinks that this thing is far from over.
Baltic Dry Index: Amazing Plunge
Crash.....
o Kidding.... Dubai May Need Help To Repay Debt....
The credit crunch takes another prisoner.
The Face Of Reality
Maxedoutmama on the Iceland crisis.
Time to abolish the BBC ?
"This is why socialism, like weeds, takes over so easily - it may seem like clever implementation and maneuvering but the rule-of-thumb to make socialism grow is a very simple one: socialists, by default, always follow those ideals which lead to failure and then convince us that more socialism is needed to put those failures right. "
Doom and Gloom
I have always liked the name of this blog; "the great depression of 2006." It seems to hint at a deep truth about the mess we are now in.
3 comments:
http://www.wsws.org/articles/2008/oct2008/ukba-o14.shtml
Britain: Labour government to buy majority stakes in failing banks
By Jean Shaoul
14 October 2008
The monies so far handed over is equivalent to £20,000 out of the pockets of every taxpayer in the UK or £10,000 for every man, woman and child in Britain. This is more than the entire annual public sector budget and this is simply the opening price. The government has given the banks a blank cheque.
Rambo
Yes Iceland's economy is crippled. Only a matter of time before they convert to the Euro. Let's keep an eye on who ends up paying those huge Icelandic debts.
Fortunately Pakistan won't suffer a problem like Iceland now they've got that new law that stock markets can't fall
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