Financial chaos ?

[BlasterBates]

financial chaos looming?

[milanbenes]

Blaster,

nicely put article

some of the armchair experts here could do with reading it

Milan.

[DimPrawn]

Executive summary please.

[sasguru]

Executive summary please.

You're fooked.
HTH

[PRC1964]

Executive summary please.

Doomed.

HTH

[PAH]

"At least 10,000 jobs could be lost in the next 3 months", doesn't look too rosy! Hope they're not all contractors.

Though the statement "at least 1 job could be lost in the next 3 months" could be seen to be just as credible a prediction.


http://news.bbc.co.uk/1/hi/business/7321948.stm

At least 10,000 jobs could be lost in the UK's financial services industry during the next three months, according to a forecast by the CBI.

The employers' organisation's quarterly survey of the sector found that most companies thought the credit squeeze would get worse in the next six months.

CBI chief economist Ian McCafferty said: "This is a very serious crisis."

The report predicts that the UK will avoid outright recession, but says that finance jobs are already being cut.


City fears jobs losses

Conditions in the financial sector - which includes banks, building societies and insurance companies - have not improved since the credit crunch began six months ago, Mr McCafferty said.

"Some have suggested it's the worst financial crisis since the Second World War," he added.

"I think one of the key characteristics is that it will go on for quite some time to come."

The financial crisis, which began after banks made huge losses on investments backed by US mortgages, has caused chaos on US and global markets.

[ratewhore]

Executive summary please.

Just another article with the same underlying story.

You've read it already...

[MrRobin]

Just another article with the same underlying story.

You've read it already...

Yarr. Too much willy nilly spending on cheap credit lent to paupers who now can't afford to pay it back = banks not lending to each other = fed injecting cash into the system and lowering rates like the clappers = poor dollar value and overall cost to the hard working and people not spending more than their means.

[DimPrawn]

So we can look foreward to the following in the next 2-3 years?

Interest rate for savers 0%
Interest rate for borrowers 9%
Real inflation rate 7%
House price inflation -25%


No point saving, no point borrowing and buying falling assets.

May as well spend spend spend and enjoy.

[sasguru]

May as well spend spend spend and enjoy.

But that would fuel the economy thus making the doomsters predictions invalid. Boomed, I tell yer!