Fannie Mae Freddie Mac
with the bail out of Fannie Mae and Freddie Mac in the US we can now understand why Alastair Darling has said what he did about the economy.
This is an absolute disaster and the whole world will slip into the recession which will repeat all the mistakes of 1928/29.
It was the action taken in 1928 which sowed the seeds for the Great Depression which started in 1929.
I wish I wasn't so negative, I wish that I will not be able to turn around and say I told you so, but many people do not have a clue.
I hear that the public service unions are leading their members up the garden path by demanding wage increases which mirror the rate of inflation. This is insanity. How much are these union leaders pocketing, they are not altruists.
If anything many people, not only in the private sector, but also in the public sector, are actually going to have their income reduced. As I have referred to historical events before then look at the Invergordon Mutiny and see the effect that had. This time it will be the public sector unions.
We will rue the day that the Americans have taken this action.
This day will see another Brown relaunch, well he is the captain on the Titanic, and he is taking us all down with him. The Titanic was meant to be unsinkable, well just as it hit an iceberg in a way which was not included in the plan, it is the same with the British, and world economy.
Brown might as well stay, there is no alternative. I'm afraid the credit crunch will not ease, batten down the hatches because this storm will be much worse than you can ever imagine.
As for America, they may well elect the equivalent of Hoover, and just as he put his faith in dams to reflate the economy, Brown and his ilk are looking at alternative energy sources to boost the economy, dream on.
This is an absolute disaster and the whole world will slip into the recession which will repeat all the mistakes of 1928/29.
It was the action taken in 1928 which sowed the seeds for the Great Depression which started in 1929.
I wish I wasn't so negative, I wish that I will not be able to turn around and say I told you so, but many people do not have a clue.
I hear that the public service unions are leading their members up the garden path by demanding wage increases which mirror the rate of inflation. This is insanity. How much are these union leaders pocketing, they are not altruists.
If anything many people, not only in the private sector, but also in the public sector, are actually going to have their income reduced. As I have referred to historical events before then look at the Invergordon Mutiny and see the effect that had. This time it will be the public sector unions.
We will rue the day that the Americans have taken this action.
This day will see another Brown relaunch, well he is the captain on the Titanic, and he is taking us all down with him. The Titanic was meant to be unsinkable, well just as it hit an iceberg in a way which was not included in the plan, it is the same with the British, and world economy.
Brown might as well stay, there is no alternative. I'm afraid the credit crunch will not ease, batten down the hatches because this storm will be much worse than you can ever imagine.
As for America, they may well elect the equivalent of Hoover, and just as he put his faith in dams to reflate the economy, Brown and his ilk are looking at alternative energy sources to boost the economy, dream on.
posted by Catch22 at 10:56 PM
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