KirstyJay

BBC NEWS | Americas | US rivals in economy crisis talks

Will they or won't they? If they do will it work? If they don't will there be global collapse? How will this effect the UK and/or Spain? Will we see China & Russia buying up all the American companies? What do forum members predict the face of the future to be? The East running the West?

Apart from my car, I have no credit... however people in the UK and america often live off it. Will we see the 1920's America happen all over again? Should the US taxpayer bail out the people that have been making millions out of them in the past while some people have been living on the breadline? Will it make a difference?

Discuss!

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Licinius

The credit crunch only hit this year & many people are still managing on savings. Once these savings are gone things will really hit home!

I hate to be a doom & gloom merchant but I really think we have seen nothing yet

weegiebird

maybe a big war,usa and russia are gagging for a scrap! good way to get rid of the unemployed!

tozcal2005

Kirsty, you asked too many questions.

Well they all boil down to the same thing and those are eventual global happenings which will directly or indirectly effect us all.

Why indirectly?

If something goes wrong or a bad decision regarding the financial and credit situation in Spain is taken, one will always use the cheap excuse that the underlying cause of it is a global one caused by the USA in the first place.

Yes, the danger of East holding the west like puppets on a string is given if China and Russia are allowed to buy up western assets even if only on paper.

Should the American tax payer bail out the big financial institutions which have selfishly exploited their clients interests and have worked lots into their own or share holders pockets?

Theoretically I feel that this is very unfair, unfair for people like you and I, Kirsty, who try avoid credit taking. Too true is that a life style on credit is far spread in the USA. Therefore, all those living on cookie will want their fellow citizens help them out by paying higher taxes to the government in the future.

Is it good that the US government is allowed to take the drastic steps it is taking?

To grant any government so much power is highly dangerous, on principle.

However, this action which has already been put into motion will only be acceptable if total transparency of dealings of financial institutions will be possible and implemented by law and not just by smooth words.

I agree that the future looks gloom and very uncertain.
On the other hand we don't know what will happen in the human mind in a very broad sense. It's possible that global thinking may undergo a substantial change
due to more and more environmental disasters occurring. We have seen after hurricane Ike that some people have woken up already to shift their ideas about values. They had to realize that all we have left in the end is each other and help from fellow men. They saw that material possessions can be turned void by anything uncontrollable.

I am not sure if I could make my point clear that this is where our hope for the future lies.

So much happened over milleniums that could not be foreseen.
To predict the future (exactly) is not even possible by the most clever mind.

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KirstyJay

Good reply

I am unsure about the bail out. On one hand, as a socialist I think why the hell should all the fat cats that have profiteered off the poor be saved by an injection of cash from the government with taxpayers money - from the taxpayers they ripped off in the first place to fund their extravegant lifestyles!

On the other hand, without the use of this cash, will everything collapse and make life even worse for them due to high unemployment, no credit and a country that will probably be run by Aisa and Russia due to the fact that they will buy everything up!

I can see the Russians and the Chinese rubbing their hands just waiting...

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Counting down to: King's Day! Our family Christmas...
I'm opening prezzies!

doreen

The Bail-Out has to happen, but then, no one thought they would let Lehmans fail, did they?

What no one is talking about is the stock market falls in Russia and China ... reckon they will have their own mini (or not so mini given how large the populations are) credit crises as so many of the newly wealthy invested heavily in stocks .... I remember seeing a programme where 20 somethings had given up their jobs in China to day-trade

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georgio

I am 100% behind you on this. I predict that this is the beginning of more to come. We have been too greedy in the past. ie:Wasting food,petrol,gas,not re-using electrical goods and many more than I can count. This is natures way of bringing us all back into reality.People have been living over there means and the greedy men took advantage of this.

annaalfredo21

I have been rich and poor. Once i have food and a roof over my head what about the children in poor countries. If we have no money we cannot give them anything. I think our children need a wake up call. My son spends 100 euro getting his hair done in dublin. What will happen if his job goes and his life style.

old golfer

More fool him to encourage these prices, if he looses his job you will need to cut it for him..... Wifie does mine.....

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C.I.M

It is a difficult one this - people, corporations and countries have made thousands, millions and billions from a free market.
Now, when the market turns against them - balances itself out... the governments have to step in.
I think "live by the sword - die by the sword" sums it up for me.

I often speak with homeowners in the UK who are worried about the value of there property or portfolio, their buy-to-let etc but if you get rich in real estate because prices have rocketed over ten years you have to be aware that its not going to last forever.
The whole thing is cyclical and when you´ve made a good amount of money you need to decide when you are going to bank it - get off the wave so to speak.

If you don't, then you have to be prepared to ride it out.

Globally, massive amounts of money have been generated in the markets over the past 10 years but you simply cannot keep taking profit. At some point, something is going to give and there is going to be an enormous void that needs filled. Pretty much what is happening now. I see it as a natural progression and what will be will be.

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