Britain on verge of collapse.....

[theblackhole]

IMF's warning to Britain: Bailouts will need to double to prevent economic collapse

By Simon Duke

Last updated at 10:44 PM on 21st December 2008
'The whole society is going to suffer,' warns IMF boss Dominique Strauss-Kahn.

Billions more will have to be pumped into the economy to avoid it spiralling into an even 'darker' recession, the head of the International Monetary Fund has warned.

Britain and other leading economies will need to double their economic bailout packages during 2009, which is shaping up to be a 'really bad year', according to Dominique Strauss-Kahn.

'I'm specially concerned by the fact that our forecast, already very dark . . . will be even darker if not enough fiscal stimulus is implemented,' Mr Strauss-Kahn told BBC Radio 4.

The IMF, which oversees the world's economic system, is urging governments around the world to splurge a staggering £80trillion in a co-ordinated war against recession.

That would represent around 2 per cent of global annual economic output.

But Chancellor Alistair Darling's stimulus package accounts for just 1 per cent of Britain's national income.

With tax receipts expected to plummet as the recession deepens, the Chancellor would be left with no option but to raise the extra cash through borrowing.

Opening the spending taps in this way would run the risk of blowing an even bigger hole in the public finances, experts warned.

But the IMF believes racking up more debt is the lesser of two evils - and that Britain's collapse will dwarf those in the U.S., Germany, France, Spain, Russia and Brazil.

The need for more drastic action comes as a key Bank of England policymaker offers a bleak assessment of our economic prospects.

In a exclusive article for the Daily Mail, Tim Besley warns that the UK is facing an ' unprecedented set of economic challenges'.

He says interest cuts alone will not be enough to save the economy, because banks are still afraid of lending to each other and customers.....................................................................................................

How about our beloved Singapore? Are we safe and sound? Are we immuned to all the global collapses going round the place? Are are all these just pure imaginations and unfounded fears and anxieties.Can we upturn the downturn?

2009 will be the Year Of The Ox - strong, stable and secured? Or is it going to be one disastrous and catastrophic year for the world?

 

[theblackhole]

Paradigm lost
Economists missed the brewing crisis. Now many are asking: How can we do better?

By Drake Bennett

December 21, 2008

THE DEEPENING ECONOMIC downturn has been hard on a lot of people, but it has been hard in a particular way for economists. For most of us, pain and apprehension have been mixed with a sense of grim amazement at the complexity of what has unfolded: the dense, invisible lattice connecting house prices to insurance companies to job losses to car sales, the inscrutability of the financial instruments that helped to spread the poison, the sense that the ratings agencies and regulatory bodies were overmatched by events, the wild gyrations of the stock market in the past few months. It's hard enough to understand what's happening, and it seems absurd to think we could have seen it coming beforehand. The vast majority of us, after all, are not experts.

But academic economists are. And with very few exceptions, they did not predict the crisis, either. Some warned of a housing bubble, but almost none foresaw the resulting cataclysm. An entire field of experts dedicated to studying the behavior of markets failed to anticipate what may prove to be the biggest economic collapse of our lifetime. And, now that we're in the middle of it, many frankly admit that they're not sure how to prevent things from getting worse.

As a result, there's a sense among some economists that, as they try to figure out how to fix the economy, they are also trying to fix their own profession. The discussion has played out in blog posts and opinion pieces, in congressional testimony and at conferences and in working papers. A field that has increasingly been defined, at least in the public eye, by quirky studies explaining the economics of our everyday lives - most famously in the best-selling book "Freakonomics" - has turned decisively, in the last couple months, to more traditional economic turf. And at economics powerhouses like Harvard, MIT, and the University of Chicago, faculty lunch discussions that once might have centered on theoretical questions and the finer points of Bayesian analysis are now given over to dissecting bailout plans. Long-held ideas - about the stability of the business cycle, the resilience of markets, and the power of monetary policy - are being challenged.

"Everyone that I know in economics, and particularly in the worlds of academic finance and academic macroeconomics, is going back to the drawing board," says David Laibson, a Harvard economist. "There are very, very, very few economists who can be proud.".............

...............................................................................................

Is it a global conspiracy? Or is it a deep flaw in the way economists think and plan? Or is it an Act Of God? Whatever it is, 2009 will be the beginning of the End of the global economic system. Nobody trusts the angmoh system anymore.Nobody will ever trust the angmoh investements anymore...many angmoh in many countries have been asked to leave and have their expat contracts terminated....all kena booted and balik kampung.....America and Britain - twin brothers always - will have to find something new. The only solution to their twin problems is to declare WAR!!!

 

[Hope]

IMF's warning to Britain: Bailouts will need to double to prevent economic collapse

By Simon Duke

Last updated at 10:44 PM on 21st December 2008
'The whole society is going to suffer,' warns IMF boss Dominique Strauss-Kahn.

Billions more will have to be pumped into the economy to avoid it spiralling into an even 'darker' recession, the head of the International Monetary Fund has warned.

Britain and other leading economies will need to double their economic bailout packages during 2009, which is shaping up to be a 'really bad year', according to Dominique Strauss-Kahn.

'I'm specially concerned by the fact that our forecast, already very dark . . . will be even darker if not enough fiscal stimulus is implemented,' Mr Strauss-Kahn told BBC Radio 4.

The IMF, which oversees the world's economic system, is urging governments around the world to splurge a staggering £80trillion in a co-ordinated war against recession.

That would represent around 2 per cent of global annual economic output.

But Chancellor Alistair Darling's stimulus package accounts for just 1 per cent of Britain's national income.

With tax receipts expected to plummet as the recession deepens, the Chancellor would be left with no option but to raise the extra cash through borrowing.

Opening the spending taps in this way would run the risk of blowing an even bigger hole in the public finances, experts warned.

But the IMF believes racking up more debt is the lesser of two evils - and that Britain's collapse will dwarf those in the U.S., Germany, France, Spain, Russia and Brazil.

The need for more drastic action comes as a key Bank of England policymaker offers a bleak assessment of our economic prospects.

In a exclusive article for the Daily Mail, Tim Besley warns that the UK is facing an ' unprecedented set of economic challenges'.

He says interest cuts alone will not be enough to save the economy, because banks are still afraid of lending to each other and customers.....................................................................................................

How about our beloved Singapore? Are we safe and sound? Are we immuned to all the global collapses going round the place? Are are all these just pure imaginations and unfounded fears and anxieties.Can we upturn the downturn?

2009 will be the Year Of The Ox - strong, stable and secured? Or is it going to be one disastrous and catastrophic year for the world?

I have little doubt that IMF boss Dominique Strauss-Kahn was talking sense here.

He did make a mistake about the 80 trillion pounds,should be about 0.8 trillion pound as the world GDP is about US$54.347 trillion in 2007,according to the world bank.

Why are they in such desperate state,one world,engineering!

The Brit,long the master of scinece & enginnering and inventors of many world class products, gave up engineering long ago and went on big time to financial engineering,making London bankers the top earners in the whole country,the whole EU and even on par with the top earners of the whole world.

But now the world knows well what actually is financial engineering,prominently respreseneted by all those big time conmen on Wall Street,and long truly well respected by our very able PAP government.

There is a very good lesson for PAP here,but would they take it up,I think not,as they consistenly claim that it is just another Boom /Bust cycle which interesting was dismissed as out of date by brilliant financil wizkid PM G.Brown of UK not so long ago.

 

[Hope]

"America and Britain - twin brothers always - will have to find something new. The only solution to their twin problems is to declare WAR!!!"

That I strongly disagree,bad Uncle Sam are the con men here,whilst the gentlemen fr London are the victims,same as us Sinkies.

 

[shelltox]

IMF's warning to Britain: Bailouts will need to double to prevent economic collapse

By Simon Duke

Last updated at 10:44 PM on 21st December 2008
'The whole society is going to suffer,' warns IMF boss Dominique Strauss-Kahn.

Billions more will have to be pumped into the economy to avoid it spiralling into an even 'darker' recession, the head of the International Monetary Fund has warned.

Britain and other leading economies will need to double their economic bailout packages during 2009, which is shaping up to be a 'really bad year', according to Dominique Strauss-Kahn.

'I'm specially concerned by the fact that our forecast, already very dark . . . will be even darker if not enough fiscal stimulus is implemented,' Mr Strauss-Kahn told BBC Radio 4.

The IMF, which oversees the world's economic system, is urging governments around the world to splurge a staggering £80trillion in a co-ordinated war against recession.

That would represent around 2 per cent of global annual economic output.

But Chancellor Alistair Darling's stimulus package accounts for just 1 per cent of Britain's national income.

With tax receipts expected to plummet as the recession deepens, the Chancellor would be left with no option but to raise the extra cash through borrowing.

Opening the spending taps in this way would run the risk of blowing an even bigger hole in the public finances, experts warned.

But the IMF believes racking up more debt is the lesser of two evils - and that Britain's collapse will dwarf those in the U.S., Germany, France, Spain, Russia and Brazil.

The need for more drastic action comes as a key Bank of England policymaker offers a bleak assessment of our economic prospects.

In a exclusive article for the Daily Mail, Tim Besley warns that the UK is facing an ' unprecedented set of economic challenges'.

He says interest cuts alone will not be enough to save the economy, because banks are still afraid of lending to each other and customers.....................................................................................................

How about our beloved Singapore? Are we safe and sound? Are we immuned to all the global collapses going round the place? Are are all these just pure imaginations and unfounded fears and anxieties.Can we upturn the downturn?

2009 will be the Year Of The Ox - strong, stable and secured? Or is it going to be one disastrous and catastrophic year for the world?

A water buffalo would be hard working and strong, however in britain s'case it may be "Mad Cow" syndrome one more time.

 

[VIBGYOR]

IMF's warning to Britain: Bailouts will need to double to prevent economic collapse

methinks the antiquated london underground is more likely to collapse first before the entire country...

 

[eeoror88]

Ka Gin Ci, good lah .... fucking Lar Kopi shitheads !!!

 

[VIBGYOR]

Ka Gin Ci, good lah .... fucking Lar Kopi shitheads !!!

Li Gong Simi LC?

 

[eeoror88]

U also Lar Kopi ??

 

[numero uno]

Paradigm lost
Economists missed the brewing crisis. Now many are asking: How can we do better?

By Drake Bennett

December 21, 2008

THE DEEPENING ECONOMIC downturn has been hard on a lot of people, but it has been hard in a particular way for economists. For most of us, pain and apprehension have been mixed with a sense of grim amazement at the complexity of what has unfolded: the dense, invisible lattice connecting house prices to insurance companies to job losses to car sales, the inscrutability of the financial instruments that helped to spread the poison, the sense that the ratings agencies and regulatory bodies were overmatched by events, the wild gyrations of the stock market in the past few months. It's hard enough to understand what's happening, and it seems absurd to think we could have seen it coming beforehand. The vast majority of us, after all, are not experts.

But academic economists are. And with very few exceptions, they did not predict the crisis, either. Some warned of a housing bubble, but almost none foresaw the resulting cataclysm. An entire field of experts dedicated to studying the behavior of markets failed to anticipate what may prove to be the biggest economic collapse of our lifetime. And, now that we're in the middle of it, many frankly admit that they're not sure how to prevent things from getting worse.

As a result, there's a sense among some economists that, as they try to figure out how to fix the economy, they are also trying to fix their own profession. The discussion has played out in blog posts and opinion pieces, in congressional testimony and at conferences and in working papers. A field that has increasingly been defined, at least in the public eye, by quirky studies explaining the economics of our everyday lives - most famously in the best-selling book "Freakonomics" - has turned decisively, in the last couple months, to more traditional economic turf. And at economics powerhouses like Harvard, MIT, and the University of Chicago, faculty lunch discussions that once might have centered on theoretical questions and the finer points of Bayesian analysis are now given over to dissecting bailout plans. Long-held ideas - about the stability of the business cycle, the resilience of markets, and the power of monetary policy - are being challenged.

"Everyone that I know in economics, and particularly in the worlds of academic finance and academic macroeconomics, is going back to the drawing board," says David Laibson, a Harvard economist. "There are very, very, very few economists who can be proud.".............

...............................................................................................

Is it a global conspiracy? Or is it a deep flaw in the way economists think and plan? Or is it an Act Of God? Whatever it is, 2009 will be the beginning of the End of the global economic system. Nobody trusts the angmoh system anymore.Nobody will ever trust the angmoh investements anymore...many angmoh in many countries have been asked to leave and have their expat contracts terminated....all kena booted and balik kampung.....America and Britain - twin brothers always - will have to find something new. The only solution to their twin problems is to declare WAR!!!

It's ALL a BIG FAT CON JOB. at the end common sense prevails. We have a system of people, high school dropouts or fresh graduates with low IQ, enter banking and financial circles, sell financial "Products" like RM which promises returns of 10-20% maybe even 30-40% year in and year and tell every customers even university professors they have a "special way " of making your wealth grows by 10-50%(read this in newspaper ads everyday:some idiot always tell you they have a secret to beat the system, yet beats me why they are selling it and shortchanging themselves if true) yet worldwide GDP growth in almost all countries every year is only 2-3%. Plain logic. How can you make money from thin air????? It's like you eat 1 kg of food and expects to put on 20 kg of weight!!!! so there you have it anyting that promises more than 2% returns (if average GDP is 2% growth) is but a con job. Same for property prices, salary increments per year for most people is only 2-5% yet property goes up by 30-40% for past few years. Plain logic would tell you that it bound to crash very soon as who has the money to service such huge mortgages. Worse now there is recession and pay cut and job losses. so expects property to crash unlike what the developers' and speculators crap stories always trying talking up the market. BTW they are beginning to sound exactly like those relationship managers who sell those toxic minibonds and lehman fiasco, IT's ALL a big fat con job and the old financial system of UBS, citigroup, etc are history as nobody believes them anymore. sounds like Powell/US who lost all credibility when they confidently said"in Iraq there are weapons of mass destruction". Nowadays nobody believes all these crappy ang mohs who bullsh#T alot. classic example is the Maddock ponzi scheme. these people are idiots with low IQ and only good for cheating people with their fluent speech and 'high class" show. Too bad too many suckers fell for it. Never beleive all these westerners esp those who wear a tie and talk big(empty vessels make the most noise), promising you high returns, The shitty times is also to be blame. past few years all the crap journalists(in cahoot with financial institutions) have been telling everyone that cash is useless to hold and NOW they are suddenly saying that cash is KING after the crash. Bloody useless spineless snakes. Those who put their money in FD are the smartest!!! COE crash, property crash, oil down , luxury items going for a song, etc and now your dollar can buy more things and at a lower price compared to 2-3 years ago(called deflation in economic terms).

 

[lolabunny]

it's all a big fat con job. At the end common sense prevails. We have a system of people, high school dropouts or fresh graduates with low iq, enter banking and financial circles, sell financial "products" like rm which promises returns of 10-20% maybe even 30-40% year in and year and tell every custmers even university professors they have a "special way " of making your wealth grows by 10-50%(read this in newspaper ads everyday:some idiot always tell you they have a secret to beat the system, yet beats me why they are selling it and shortchanging themselves if true) yet worldwide gdp growth in almost all countries every year is only 2-3%. Plain logic. How can you make money from thin air????? It's like you eat 1 kg of food and expects to put on 20 kg of weight!!!! So there you have it anyting that promises more than 2% returns (if average gdp is 2% growth) is but a con job. Same for property prices, salary increments per year for most people is only 2-5% yet property goes up by 30-40% for past few years. Plain logic would tell you that it bound to crash very soon as who has the money to service such huge mortgages. Worse now there is recession and pay cut and job losses. So expects property to crash unlike what the developers' and speculators crap stories always trying talking up the market. Btw they are beginning to sound exactly like those relationship managers who sell those toxic minibonds and lehman fiasco, it's all a big fat con job and the old financial system of ubs, citigroup, etc are history as nobody believes them anymore. Sounds like powell/us who lost all credibility when they confidently said"in iraq there are weapons of mass destruction". Nowadays nobody believes all these crappy ang mohs who bullsh#t alot.

paragraphs please! :d:d:d

 

[singveld]

their bankers are killing them by borrowing them massive amount of money which cannot be repaid.

 

[makapaaa]

So is Peesai?​