Seriously
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In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
We (the west) are going through a major adjustment right now. We have lived beyond our means for years using excessive credit and funding our spending by drawing on home equity. At a national level most countries have had bad trade deficits and our industrial base has been diminished.
The current credit crisis should start to ease a little next year but a slow decline of our standard of living is inevitable in this new world order.
The current credit crisis should start to ease a little next year but a slow decline of our standard of living is inevitable in this new world order.
The economy will recovered within the next seven years I reckon, seems like a long time but it really isnt
I just want someone to buy my damn house in GA so I can relocate to TX and buy a 2000 square foot home for about 20-30% less than it would have sold two years ago.
Speaking of economic situations, I'll probably be settling my adopted father's estate case within the next 6 months or so (long court battle with his brothers). You business/investment savy folks... I was thinking of dropping 50-100k into a bar/pub/restaurant thing, nothing too large but decent sized. Thoughts?
Speaking of economic situations, I'll probably be settling my adopted father's estate case within the next 6 months or so (long court battle with his brothers). You business/investment savy folks... I was thinking of dropping 50-100k into a bar/pub/restaurant thing, nothing too large but decent sized. Thoughts?
Haha I hate GA, where do live, Atlanta I had the displeasure of living in Augusta for a year over a decade ago and hated got to see El Tigre win his first Masters though
I live just south of Macon, GA, in the town of Bonaire, next to Robins AFB where I work.
I'm hoping that the stock market crashes are just idiocy and panic and as such should level out very soon.
Wait and see is my advice.Seriously
It will ease a bit in the beginning of next year.But slowdown will remain for quite a long time.
LIBOR fell overnight from 5.83% to 5.41%.
Crisis Over!!
Crisis Over!!
The Dow is over 100 points down today.
Potentially I would say there is very little down side that is off the agenda. Think about the number of people who will become unemployed in the next 18 months. How many have savings put aside to pay their mortgages? If they bung their houses on the market to get out from under the debt they have. It either will not sell or only at dramatic losses. I can imagine many will just default on their houses and end up homeless, staying at relatives etc.
This write down in assets by the banks will leave them once again in need of assistance from the UK govt.They could end up being completely nationalised by summer 09.At this point there is a 1/20 chance that the UK govt goes bankrupt or defaults on its loans.
That is a Zimbabwe style collapse in the economy.Ok it is only 1 in 20 but feck me it’s daunting to think about. Also the countries currently doing well selling to the west are going to have to find someone else to sell to because our currencies are going to be worth buttons for some time to come.:O)
This write down in assets by the banks will leave them once again in need of assistance from the UK govt.They could end up being completely nationalised by summer 09.At this point there is a 1/20 chance that the UK govt goes bankrupt or defaults on its loans.
That is a Zimbabwe style collapse in the economy.Ok it is only 1 in 20 but feck me it’s daunting to think about. Also the countries currently doing well selling to the west are going to have to find someone else to sell to because our currencies are going to be worth buttons for some time to come.:O)
This has happened once before. 1870. Started in Austria-Hungary with over priced mortgages and first the European economy collapsed, then America. The financial epicenter of the world moved from Europe to America as a result. This one will move it to Asia. Good times.
America won't be back for a long, long time.
America won't be back for a long, long time.
Great time to have just left Uni and be back at home, looking to move out of home and get a good paying enjoyable full time job.
fecking money.
fecking money.
DOW dn another 700 pts.
it was at 14000 a yr ago, now 8500.
it was at 14000 a yr ago, now 8500.
jebus.
I used to remark that as long as it stayed over 10,000 everything was fine.
these are some dark days indeed.
Huge hedge fund capitulations today. Wouldn't be surprised if DOW falls another 1000 points tomorrow. A lot of funds have to sell at any price - I know of a $10bln HF that lost 80% of the value of its assets in a month... Guys like that have to sell, liquidate, close-down. It's actually not that bad out there; in fact time to buy some stocks at ultra depressed levels.
Seriously
A hell of a lot worse. Expect heavy job losses, rampant inflation, economy collapse and a zero credit for those that need it.
Expect a knock on effect on basic public service cutbacks. Your rubbish is gonna stay out a little longer.
Government will try to claw back as much as it can, so pay your taxes as you cannot negotiate an extention with the tax man, UK Ltd is broke.
Expect the jobless to hit double digits next year in the UK.
Pawn brokers with detonate into the high street.
SME office space will collapse.
Every third letter will be from an enforcement agency demanding money, hard ball on credit, even if its only a little late.
If you can take the opportunity to "negotiate" your credit with your lender, half payback is the norm today, if you have the money to settle, take it. Always ask for a "settled in full" in writing for your credit file.
If your lucky enough to have more than 50k in cash in the bank take over the 50k mark and stuff it down your grannys knickers until this is all over.
The sad effect will be a rise in crime, insure your homes, check your insurance and put your car in the garage.
Have a nice day.
What a Bearish attitude 2Bullish
It is what it is.
The hardest business in the world to get into and stay in.
You used that term deliberately to stir things up didn't you
Sorry my comment does take away from the fact everything you said is more or less spot on.
It'll get a whole lot worse. The snowball has just started rolling... but in the end we'll pull through.
The foundations are rotten, it's just a case of how rotten.
When people start to doubt the safety of their own bank then it's not looking good.
When people start to doubt the safety of their own bank then it's not looking good.
Seriously
It's not neccesarily going to get any "worse" than it is now, so to speak, but I reckon it'll drag on for a good while yet. The panic and idiocy should fall away pretty quickly, but there'g going to be a lot more companies going bust, jobs being lost, price rising, and the like.
Basically, the people who are living to a standard that their level of income can't justify (which is currently a ridiculous number of people), are probably fecked, or at least in for a major wake up call. The rest of us though should be alright.
Of course, in reality I actually have no idea. Spinoza's probably got it all sussed out already.
Wow. Just talking to my friend on msn who lives in America. He was listening to a local radio show over there where an "expert" on a radio show claimed the whole crisis in America on Barack Obama, because he is black. He offered no further explanation until quizzed by a caller, to which he just replied "People dont trust blacks with their money, he has ruined the economy". He was quickly cut off. I know at 21 I was born in a different time to others, but I just dont understand how there can be racists in the world.
That's probably BS too be fair, either you made that up or your friend did, when are we gonna get a black PM is the question eh
Well I didn't make it up, and I doubt he did either. I wasn't specifying the problem as a particular country or region, just making the point about racists in general.
I'm racist, and proud.
Except when I'm not.
Except when I'm not.
Racist or proud?
Both.
Neither.