Banks have been falling over since last year mate. It has been caused by numerous speculative bubbles, and now they are all bursting at once. The people running the banks would have known it was unsustainable, but they didn't care, they were making huge profits (and getting multimillion dollar bonuses) on CREDIT DERIVATIVES that were mulitplying in value due to speculation, when the housing market turned they were worth nothing, a bit like share futures.
The credit derivatives market is worth on the order of 500 trillion dollars US. Or $500,000,000,000,000 it was all pretend paper money which made everyone think they were rich. Now it's disappeared, and there's not enough real economy money in the world to cover the losses. How to fix it?
Cancel debt. Have a look at:
www.larouchepac.com
and
www.marketoracle.co.uk
The world is collapsing, how deep will the rabbit hole go? I don't know. I'll be buying a good tent and sleeping bag and hunting knife though, just in case.
Many in the media are still trying to talk it down and bring calm. They are really just deceiving average joe, and preventing preparation for hard times.
If you've got a mortgage free property you should be sweet. To the rest of us, good luck.
Farmers will fare the best, as food and water are the only things really required in times of hardship.
most of the dealer bikes are on a 'Floor Plan' Interest free loand for 90 days.. if the stock isnt gone in that time, the dealers start paying interest on that loan. if you have 20 brand new Suzukis, thats worth 20-30k (just an average estimate) if stock is moving slow..all that money is tied up..still got salaries, rents, accessories costs, workshop supplies,advertising and marketing.. ...yadda yadda..
GE Finance owns the bikes.. they can come get them whenever they want
sell or die..
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Grass wedges its way between the closest blocks of marble and it brings them down. This power of feeble life which can creep in anywhere is greater than that of the mighty behind their cannons....... - Honore de Balzac
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Grass wedges its way between the closest blocks of marble and it brings them down. This power of feeble life which can creep in anywhere is greater than that of the mighty behind their cannons....... - Honore de Balzac
I have a workshop in newmarket went to a certain merc dealer the other day to get a cabin filter was told buy other supplier they were out of stock, anyway guy hand me aftermaket filter and asks for $90 then takes a second look say sorry takes it back and come back with a genuine one. Gose to show take your car/bike to a dealer they will charge you for genuine parts they fit that are not the real deal. and only sell the genuine stuff over the counter.
[SIGPIC][/SIG
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