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US House votes against $700bn bailout

Darragh29 · 2008-09-29 18:14:38

We're rightly fu*ked now apparently after this! Go out and buy your batteries and stock up on tinned food, Pot Noodles and arsewipe!

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#182 30-09-2008 12:54am
Darragh29

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OPENROAD wrote: »

In this case all the suggestions and govt talk certainly does not point to a rise, a rise certainly would be the wrong move for our economy.

When did we last have a rise???

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#183 30-09-2008 12:58am
OPENROAD

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Darragh29 wrote: »

When did we last have a rise???

Can't remember one in recent times.

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#184 30-09-2008 1:01am
Darragh29

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OPENROAD wrote: »

Can't remember one in recent times.

Well maybe we are due one then...

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#185 30-09-2008 1:03am
AlmightyCushion

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Darragh29 wrote: »

Well maybe we are due one then...

There hasn't been a major outbreak of the ebola virus here in a while either.

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#186 30-09-2008 1:05am
OPENROAD

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Darragh29 wrote: »

Well maybe we are due one then...

Really? Why?

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#187 30-09-2008 1:17am
Ace2007

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quick quest, a few years ago, world banks just wiped clean some(maybe all) debt owed by african countires, - why can't they do that now???

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#188 30-09-2008 1:28am
Ichiro

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I agree with the ebb and flow comment!

But can someone please tell me in LAYMAN'S terms what does all this mean,
for the ordinary Joe who works 9 to 5?

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#189 30-09-2008 1:37am
Ace2007

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Ichiro wrote: »

I agree with the ebb and flow comment!

But can someone please tell me in LAYMAN'S terms what does all this mean,
for the ordinary Joe who works 9 to 5?

if u find out let me know

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#190 30-09-2008 1:46am
Ichiro

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Thats the problem today with the world!
Nobody knows what exactly what is going on!
And all the answers we want are given by suspect politicians who sugar coat the truth or beat around the bush!

And how did we come to this stage of world economic crisis?

Is ignorance bliss?

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#191 30-09-2008 1:48am
SimpleSam06

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dotsman wrote: »

(perhaps if you speak russian/chinese, as the only 2 large economies that won't suffer too badly, and have contacts there - you might have a chance!).

The Chinese are coming into a massive crash at the moment themselves, only to be expected after a thirty year boom, and the Russians derive all their wealth from fuel exports, so how long thats going to remain relevant is anyone's guess. No the place to be is Germany or France, correct answer was Germany or France...

j1smithy wrote: »

You'll have to change your username then, cos there wont be a party at your gaff!!

I was just about to say I found his nick grimly ironic.

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#192 30-09-2008 1:53am
kaiser soza

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It means it is time to take all your money out of the banks and hide it under the floorboards at home.

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#193 30-09-2008 1:57am
Statso

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Stev_o wrote: »

So on a scale of 1 to 9000 how f*cked are we?

Over 9000!!!

No-one else got that?

/slinks back to nerdhole

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#194 30-09-2008 1:59am
conceited

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Whoever voted yes should be put into jail.

http://projects.washingtonpost.com/congress/110/house/2/votes/671/

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#195 30-09-2008 2:01am
Sir Digby Chicken Caesar

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what the ****?

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#196 30-09-2008 2:05am
kaiser soza

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I thought I would get this in early,
Would anyone like to buy some apples?

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#197 30-09-2008 2:07am
[Deleted User]
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People Bush has to put through rendition to pass this bill?

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#198 30-09-2008 2:07am
Sir Digby Chicken Caesar

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five for a fiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii-ver?

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#199 30-09-2008 2:07am
OPENROAD

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Ichiro wrote: »

I agree with the ebb and flow comment!

But can someone please tell me in LAYMAN'S terms what does all this mean,
for the ordinary Joe who works 9 to 5?

Good Times:

Bank lends 100 Euro to a guy who runs a restaurant, the guy who owns the restaurant goes and buys more meat from the butcher who buys more from the farmer, the farmer puts the money in the bank, the bank lends the money out to a plumber who buys more tools from the hardware etc etc etc...

All the time the money is flowing in the economy, employment is being created, employees have more money to spend in shops, the shops hire more people and all the time the money is flowing back to the bank and to government.

Bad Time/Banking Crisis:

The banks are not too keen to lend that 100Euro to the guy who runs the restaurant so he doesn't buy from the butcher who doesn't buy from the farmer. The guy who owns the restaurant can't get credit, he cn't create employment, hey he might not even be able to keep all his staff.

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#200 30-09-2008 2:26am
Ace2007

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OPENROAD wrote: »

Good Times:

Bank lends 100 Euro to a guy who runs a restaurant, the guy who owns the restaurant goes and buys more meat from the butcher who buys more from the farmer, the farmer puts the money in the bank, the bank lends the money out to a plumber who buys more tools from the hardware etc etc etc...

All the time the money is flowing in the economy, employment is being created, employees have more money to spend in shops, the shops hire more people and all the time the money is flowing back to the bank and to government.

Bad Time/Banking Crisis:

The banks are not too keen to lend that 100Euro to the guy who runs the restaurant so he doesn't buy from the butcher who doesn't buy from the farmer. The guy who owns the restaurant can't get credit, he cn't create employment, hey he might not even be able to keep all his staff.

so being a famer would be good as u'll have food?

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#201 30-09-2008 2:30am
OPENROAD

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Ace2007 wrote: »

so being a famer would be good as u'll have food?

Sub in any business , the principal is the same

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#202 30-09-2008 3:44am
LuckyLloyd

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It is very important to note that just because one does not notice adverse effects in their day to day lives in the coming weeks and months does not mean that a cataclysmic financial disaster has not happened.

The events of today were extremely damaging for the Irish economy, and tomorrow could simply compound the seriousness of what happened. No, there is not going to be looting on the streets and the sky isn't going to fall down upon your heads on your way to work tomorrow.

Unfortunately though, the economy is currently undergoing a correction to pre - celtic tiger levels. Over the next year, unemployment is going to rise sharply as are interest rates. So, while you may not suffer immediately, you are likely to notice things deteriorate soon.

The lower your skill base, and / or the higher your level of personal debt - the harder and sooner you will feel the pinch. Remember that it is in the interest of all of society to ultimately keep the show on the road to some extent. So this isn't the end of time or any of that bull****.

But most likely, if you are posting on this site you are an Irish person aged 16 - 30 who has had things easier for you up to now than you can possibly comprehend. Having to work much harder for much less and consequently readjusting our expectations downwards will be the real hard part for most of us.

Things fall apart.

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#203 30-09-2008 4:43am
Overheal

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Statso wrote: »

Over 9000!!!

No-one else got that?

/slinks back to nerdhole

I totally beat you to it. http://boards.ie/vbulletin/showpost.php?p=57418177&postcount=132

AlmightyCushion wrote: »

Don't worry the LHC wll destroy the planet before anythinig major happens.

Assuming theres still enough money left to turn it on. Its down for repairs until next year. Didnt you get the memo?

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#204 30-09-2008 5:58am
Tar.Aldarion

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Stev_o wrote: »

So on a scale of 1 to 9000 how f*cked are we?

As the video said, it's over 9000!1!!!!

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#205 30-09-2008 6:33am
DublinWriter

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Forky wrote: »

This isn't going to go away anytime soon. What the f*ck is going to happen tomorrow?

The breaks are well and truly off now that the American government has refused to bail out the banks.

I predict that the markets will go into free-fall today. I can see the US Government suspending trading on the NYSE for a few days, starting either later today or tomorrow.

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#206 30-09-2008 7:57am
4zn76tysfajdxp

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DublinWriter wrote: »

I predict that the markets will go into free-fall today. I can see the US Government suspending trading on the NYSE for a few days, starting either later today or tomorrow.

Coooool...

So we didn't need the Hadron Collider after all, it was a simple case of running out of money that'll bring this world to its knees.

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#207 30-09-2008 9:09am
dotsman

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SimpleSam06 wrote: »

The Chinese are coming into a massive crash at the moment themselves, only to be expected after a thirty year boom, and the Russians derive all their wealth from fuel exports, so how long thats going to remain relevant is anyone's guess. No the place to be is Germany or France, correct answer was Germany or France...

In the past few years, Germany's economy has tried to take off, has spluttered and is about to fall over again.

France? France? They're too busy striking to have an economy! To be honest, their socialist structure will shield them partly from this crisis (although not entirely), but I don't see their economy going anywhere positive.

Oh well, looks like everybody's fcuked!

Only criminals will prosper!

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#208 30-09-2008 9:09am
Darragh29

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DublinWriter wrote: »

The breaks are well and truly off now that the American government has refused to bail out the banks.

I predict that the markets will go into free-fall today. I can see the US Government suspending trading on the NYSE for a few days, starting either later today or tomorrow.

that's cheatin!

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#209 30-09-2008 9:10am
dotsman

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DublinWriter wrote: »

The breaks are well and truly off now that the American government has refused to bail out the banks.

I predict that the markets will go into free-fall today. I can see the US Government suspending trading on the NYSE for a few days, starting either later today or tomorrow.

Iseq is up so far! (although the Irish government at least have done something to protect the economy)

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#210 30-09-2008 9:21am
constitutionus

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yeah, gave a guarentee to bail out ALL the banks.

thats 500 BILLION ! or ten times the national debt.

good move on paper, we'll be kicked out of the euro if we need it and we'll STILL not have the cash anyway.

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#211 30-09-2008 9:54am
SimpleSam06

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OPENROAD wrote: »

Sub in any business , the principal is the same

Its not though. Its always been a bit of a puzzle to me how some businesses need bridging loans to stay afloat.

dotsman wrote: »

In the past few years, Germany's economy has tried to take off, has spluttered and is about to fall over again.

France? France? They're too busy striking to have an economy!

Germany and France follow the "European" banking model, they keep their banks on a short leash with regulation and laws, so in the event of a credit bubble bursting, they will be relatively unscathed, since there wasn't that much bad credit.

On the other hand their economies didn't see the rampant "growth" (which wasn't really growth at all) of the anglo countries over the last few years, but look who's laughing now.

Germany in particular has a vastly powerful export based industrial sector, diversified across many areas and to many different countries. They are possibly one of the best economies on earth at the moment. Note that "best" doesn't equate to "borrowed from future earnings which you may or may not have and exposing your cherry red balls to a woeful kicking if and when you screw up", it equates to actually making viable products and selling them.

Thats how they got to be the largest economy in Europe.

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