Comments on: More massive losses at taxpayer owned Northern Rock now in breach of regulatory requirements http://maxkeiser.com/2009/07/02/more-massive-losses-at-taxpayer-owned-northern-rock-now-in-breach-of-regulatory-requirements/ Financial War Reports Mon, 13 Feb 2012 11:34:39 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: J http://maxkeiser.com/2009/07/02/more-massive-losses-at-taxpayer-owned-northern-rock-now-in-breach-of-regulatory-requirements/#comment-12659 J Thu, 09 Jul 2009 00:11:48 +0000 http://maxkeiser.com/?p=2008#comment-12659 On the safety net - yes. Why unemployment isn't higher? There's a tendency for employers to negotiate pay cuts with unions rather than have job losses - this might be a factor, but unemployment and underemployment is creeping up. What's quite sickening is that we're being told it's necessary to cut government spending drastically - so we can repay the debt taken out to rescue the banks. Meanwhile these mostly nationalised banks haven't resumed lending to pre-crunch levels - on top of which the government wants banks to hold onto more capital, which is kind of shutting the stable door after the horse has bolted. On the safety net – yes. Why unemployment isn’t higher? There’s a tendency for employers to negotiate pay cuts with unions rather than have job losses – this might be a factor, but unemployment and underemployment is creeping up.

What’s quite sickening is that we’re being told it’s necessary to cut government spending drastically – so we can repay the debt taken out to rescue the banks. Meanwhile these mostly nationalised banks haven’t resumed lending to pre-crunch levels – on top of which the government wants banks to hold onto more capital, which is kind of shutting the stable door after the horse has bolted.

]]> By: Palantíre http://maxkeiser.com/2009/07/02/more-massive-losses-at-taxpayer-owned-northern-rock-now-in-breach-of-regulatory-requirements/#comment-11247 Palantíre Thu, 02 Jul 2009 11:04:41 +0000 http://maxkeiser.com/?p=2008#comment-11247 Off topic news but I thought it was an interesting read, “Saddam's weapons bluff aimed at Iran - FBI reports” http://www.reuters.com/article/middleeastCrisis/idUSN02534163 Also, The Swedish Riksbanken lowered the key interest rate Thursday by 0.25 percent to 0.25 percent. But the interesting bit is this: Riksbanken also lowers lending rates overnight to minus 0.25 percent, from zero interest rates. This means that it costs to invest overnight at Riksbanken. “Keep the money in the system, and lend it out” no English link sorry http://www.dn.no/forsiden/utenriks/article1698975.ece Off topic news but I thought it was an interesting read, “Saddam’s weapons bluff aimed at Iran – FBI reports”
http://www.reuters.com/article/middleeastCrisis/idUSN02534163

Also, The Swedish Riksbanken lowered the key interest rate Thursday by 0.25 percent to 0.25 percent. But the interesting bit is this: Riksbanken also lowers lending rates overnight to minus 0.25 percent, from zero interest rates. This means that it costs to invest overnight at Riksbanken. “Keep the money in the system, and lend it out”
no English link sorry
http://www.dn.no/forsiden/utenriks/article1698975.ece

]]> By: Max Power http://maxkeiser.com/2009/07/02/more-massive-losses-at-taxpayer-owned-northern-rock-now-in-breach-of-regulatory-requirements/#comment-11221 Max Power Thu, 02 Jul 2009 08:55:24 +0000 http://maxkeiser.com/?p=2008#comment-11221 Don't forget that NZ and the UK have had somewhat similar experiences when it comes to Public vs Private long distance rail networks. In the current incarnation, NZ railroads are all public -- but 5 years ago they where all private. However, the expansiveness of NZ Rail that existed before 1950 is gone -- both North Island and South Island. NZ Rail (technically called Kiwirail) in order to be fit for 21 century demands (namely "Peak Oil" coming more and more into play) needs to be brought up to code (track, bridges, etc...) and electrified. However, this upgrading may only happen in the depths of this probable 10 to 20 year depression. Don’t forget that NZ and the UK have had somewhat similar experiences when it comes to Public vs Private long distance rail networks.

In the current incarnation, NZ railroads are all public — but 5 years ago they where all private.

However, the expansiveness of NZ Rail that existed before 1950 is gone — both North Island and South Island.

NZ Rail (technically called Kiwirail) in order to be fit for 21 century demands (namely “Peak Oil” coming more and more into play) needs to be brought up to code (track, bridges, etc…) and electrified.

However, this upgrading may only happen in the depths of this probable 10 to 20 year depression.

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