ATW's 10 points plan to solve the global financial crisis

[AtW]

1. Speculants (like Soros), fraud types (like Enron boys) or people who endanger long term future of the West get a minimum of 5 years of Uran digging to supply West with cheap fuel for nuclear stations.

2. No leveraging allowed: you either have 100% cash cover or you don't - if you don't and try to buy assets that valued at more than you have then you are deemed speculant/fraud type.

3. Gapital gains from short term investments are taxed at 95%: low CGT for real businesses though, like maybe 10% if you hold business assets for 3-5 years.

4. Morgages only given to those who can actually afford it - no more than 3 times net annual income.

5. Offshores are blocked from the rest of the world - any transactions with them, having companies located there is deemed speculation/fraud.

6. IR35 - abolished, whoever created it is deemed a speculant/fraud type.

7. Non-real-value-adding professions like lawyers, financial types, etc are discouraged.

8. Heads of companies that decide to outsource manufacturing to non-Western countries are deemed as endangering long term future of the West.

9. AndyW is deemed a speculant.

10. Anyone who disagrees with this plan is deemed as a person who endangers long term future of the West.

[DimPrawn]

1 out of 10.

Please try harder.

[PRC1964]

You can take the geek out of the USSR but you can't take the USSR out of the geek.

[AlfredJPruffock]

Sorry - but you are DOOMED - do what you will - it amounts to changing the furniture in the room - which the roof is going to cave in.

I predicted last summer when Banks stop lending to Banks then the crunch comes - read this - the end IS nigh insure now with Prudential

Bear Stearns, maybe like Northern Rock, was unlucky, because the rumours got around it was in difficulties and the other banks wouldn’t lend to it. But then increasingly the bank won’t lend to each other or many of the rest of us either.

That means that the business that employs you, that new car loan you’re after or that remortgaging deal you're looking for will all be affected - credit will be much harder and sometime more expensive to obtain.

It means your property will be worth less. It means you may lose your job. It means the property market generally will become depressed, with falling values destroying confidence.

Falling shares means lower pensions. It means people spending less, and profits and jobs suffering too. And with rising unemployment comes more defaults on mortgages, plummeting prices, another dive in confidence and so on - a vicious circle.

If an institution the size of Bear Stearns can be brought low in the downward spiral, so can most of us. So Bear Stearns means a lot. Yes, it is that bad.

[ace00]

I'm speculating right now.
23 quid 50p down at the moment.
Damn your unpredictability FTSE.

[AtW]

Forgot one more point:

11. No credit allowed unless it is a morgage or long term investment: no car loans, no kitchen loans, no new IPod on credit card.

[Moscow Mule]

Nurse!!!

[bogeyman]

Forgot one more point:

11. No credit allowed unless it is a morgage or long term investment: no car loans, no kitchen loans, no new IPod on credit card.

Oh, shut up you tedious fool!

You seem to think this crash is some kind of huge joke, at someone else's expense, that won't actually affect YOU.

Well listen up, buddy.

Do you think that a world-wide recession will NOT affect the market for your (non-essential) goods and services?

It will.

And furthermore, it will hurt all of us, in whatever walk of life.

Bad times are a'commin'

[DimPrawn]

Oh, shut up you tedious fool!

You seem to think this crash is some kind of huge joke, at someone else's expense, that won't actually affect YOU.

Well listen up, buddy.

Do you think that a world-wide recession will NOT affect the market for your (non-essential) goods and services?

It will.

And furthermore, it will hurt all of us, in whatever walk of life.

Bad times are a'commin'

Sometimes, if you prepare and have a plan, a crash is a great way of moving up the wealth ladder.

Not everyone suffers in a downturn.

[sasguru]

Do you think that a world-wide recession will NOT affect the market for your (non-essential) goods and services?

non-existing