More on the international stage……for months and months the Wall Street banks have gotten free money to gamble with and the people wait for their turn in the barrel…..almost everyone, but Bankers, have been saying that credit should be loosened up to help consumers get their credit……no one in the US is listening, especially the leaders and the bankers…..
I am not a expert on European politics or economics but there are stories that I read that makes me think that they may be on a better path than the US…..I recently read this article in the NY Times and thought that it would be intersting to get others points of view…..
The European Central Bank and Swiss National Bank said Monday that they would end a program aimed at supplying Swiss currency to banks, in a further sign that the region’s financial system is becoming more stable.The European and Swiss banks, and the Polish and Hungarian central banks, will stop providing so-called swaps, which had allowed the banks to exchange euros for Swiss francs. The last swap will be Jan. 25, the Swiss central bank said.
It appears that the European sectors are doing a smarter thing than their American counterparts….Americans do not get to hear this type of news…taxpayers need to pay attention to the world…..
If there is someone reading (possibly Quin of Quintessential Havoc) has more info on this situation I shall bow to their knowledge and would appreciate an update….
Well, I’m no financial whizz kid (you can tell that by looking at my bank balance – 😆 )…
However, the situation is certainly improving throughout the banking systems of Europe (and elsewhere too), but then NONE of the financial world has been in recession for the last 6 to 9 months anyway – including the US!
In truth, things are moving along just fine for the banks all over the world and few have serious problems any longer – but then that’s as you would expect it to be when you consider that they’ve got all OUR f*cking money between them. That, of course, is why we (the normal people) are poor and our world is still in recession whilst the assholes who caused the problem in the first place are sitting pretty and laughing their goddamn heads off at the rest of us.
Situation rapidly becoming entirely normal, I’d say 👿
But it l;ooks like Europe is ahead of us in credit availability for us “normals”……it still sucks in the US for people as well as small businesses…..
Oh, I doubt it’s significantly different, whatever it looks like.
Don’t forget, at least a big part of the crisis came from bad loans made on poperty. Billions of pounds, dollars and euros were lent in loans on vastly overvalued properties to people who a five year old could have told them would be quite unable to repay.
The secondary result of that was HUGE numbers of “holiday” or “investment” properties purchased all across Europe (and a good part of the US) by Brits and others for NOTHING (no outlay at all, that is).
A few years later, those people have inevitably defaulted and, since they had no equity in their purchases in the first place, they have never given a damn and in many cases even paid the electricity bills on them, let alone local taxes or maintenance fees.
The banks, though, have not learned any lessons. They are simply hoarding OUR money (and sharing it out amongst themselves) until things turn around the way they want.
It is one of the big reasons I hate bureaucracy. Once upon a time, your bank manager knew you (possibly personally) and made a realistic judgement based on infomation, experience and knowledge. Nowadays it’s all about points and ticking boxes and, if the rules are wrong, or the data inaccurate, the wrong loans are made to the wrong people. It does avoid the possibility of “loans to friends” and all that, but computers can never be any better than the sixteen year old who inputs the information in the first place. Mostly, they get it wrong.
People dealing with people, based on a lifetime of experience, or bureaucratic shit from computer programs written by geeks who don’t understand business (or even common sense) and fed by uneducated school-leavers. Which would YOU prefer?
Of course I agree with the personal thing…..here in the US there is very little loaning to individuals at all…even the smaller banks that use the formula you speak of….once again I return to my original; bitch…..need to create DEMAND……
EXACTLY! The problem will solve itself then – IF we are to continue with modern financial method.
Part of the problem, though, is that these days, encouraged and duped by the banks into doing so, we all live on credit. Once upon a time you saved up to buy what you needed or wanted and we all had money put aside “for a rainy day” – not any more!
If we are to ever change things, it’s we the people who have to get out of the clutches of the banks and we can do that by becoming fiscally conservative and trusting our own judgement. We might have to consider becoming a bit less materialistic though and that won’t do much for demand.
As some have said….the banks are gamblers that stick the downside to the people and keep ALL of the upside…..and yes I agree with you on the subject of materialism…we are so damn superficial that it makes one ill at the thought of it….
Hi, I hope that you don’t mind me asking but is your site using wordpress and if so is it a standard theme or one you designed yourself? I like wordpress but don’t like the way that most sites look like, well – wordpress! I’d love to have a site that looks like yours! Can you reveal your secret? Thanks, S x
It is no prob….most of the stuff on the site you can do when you register a blog….you can pay for other bennies but mine right now is the free stuff….I use to use blogspot but found that wordpress was better simply because of the stats thing…I can track where the readers are going…I am very pleased with wordpress and I think you would be also….
Hi, I like your site and think you cover some very interesting posts, I’ll be sure to add you to my favourites. Thanks,Sarah
As much as I can understand right now, I think you’re right!
Hi, good comment. I look forward to your next article. Thanks, Jessica