Lost generations, fake coups & more UK taxpayer owned loan portfolios go bad

Posted on August 5, 2009 by stacyherbert| 11 Comments

Stacy Summary: Wait until all those Americans seeking work abroad, like many migrants before them, learn that Americans are uniquely unable due to the fact that most banks refuse to take American customers for fear of the policing bully of the world. Nope, the walls along them there borders are to keep you in, not the Mexicans and Canadians out. And, finally, more bad debts found on taxpayer owned balance sheets. Gee, it’s really, really, really strange that all the bad debts appear to be owned by taxpayers. How truly odd that the loan portfolios of the other banks seem to have miraculously turned so strong in the past six months . . . .

Lost Generation? American grads work for free, look for work abroad (h/t Youri Carma)

US govt stages fake coup to wipe out national debt (h/t all)

Gordon Brown’s bank merger sticks UK taxpayer with another £4 billion pound loss

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11 Responses to Lost generations, fake coups & more UK taxpayer owned loan portfolios go bad

Harry | August 5, 2009 at 1:18 am |

All this leads back to the question:
How BIG is the loss actually if we would not have ‘saved’ these banks? I we would have let them crash?
Did anybody do the math and do a fair estimate of the cost of say ING going bellyup and restarting after 6 months?
Everyone follows the ‘too big to fail’ routine but is that really the sensible route with no real economic improvements in sight at this point in time?
M | August 5, 2009 at 1:19 am |

I can’t watch the Utube clip at the moment, can anybody explain shortly the contents?
Mini US | August 5, 2009 at 1:35 am |

ANZ Bank in Australia buying up bank assets in Asia.
Is this bank cashed up and confident or what?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aLnmG.UuC0cw

http://news.morningstar.com/newsnet/ViewNews.aspx?article=/DJ/200908040249DOWJONESDJONLINE000122_univ.xml
Mini US | August 5, 2009 at 1:38 am |

If inflation rises, so do interest rates and savings are protected from inflation.
This is not the case because you pay tax on interest and don’t get the loss on higher prices.
Maybe we should make inflation TAX DEDUCTABLE!!!
NicAbbo77 | August 5, 2009 at 2:10 am |

@ M The youtube link is a humourous recount of a fake coup in the USA, with the video done itself as a fake news report, saying that the government has faked a coup to clear US foreign debt. Quite funny, can see the satirical point, but you’ll live if you don’t see it.
M | August 5, 2009 at 2:15 am |

NicAbbo77, Ok thanx!
Black Douglas | August 5, 2009 at 3:43 am |

Regarding Octavia. Does anyone know when it will start issuing bonds?
Matt Smyth | August 5, 2009 at 7:33 am |

@Harry

My guess is that if all the banks failed it would have been similar to Asian financial crisis. The fallout might hurt the currency. No big deal, there would have been a couple years of reforms and we would already have a sustained recovery by now.
frances snoot | August 5, 2009 at 7:44 am |

@Stacy:
ALL HAIL OCTAVIA
T | August 5, 2009 at 9:18 am |

I lived in both the U.K. and then Japan (during the Dark ’90s). I’ve worked for a wide range of intl. companies (many times being the only American).

So as an expat it’s funny in a way how the business MSM keeps saying things are great, the Stimulus is working. If that’s true, then how come the number of people emigrating from the States is going up? I know, it kind of spoils that Obama is So Cool thing. Then again, it’s literally every person for themselves now. The politicians ONLY care about money, power. And making the Other Side the fall guys for problems.

Not only that, but now you’ve got RNC-brainwashed idiots trying to shut down town hall health care meetings. Where are the millions of progressives who want single payer? How come THEY’RE not backing down? Your favorite chat show hosts, Greg Palast and Brad from Brad’s Blog.com are NOT going to save you.

Th politicians are terrifed of AIPAC and the anti-single payer lobby. Pelosi and Reid say jump. And the loyal Democrats say how high? Many times I rang up various Representatives and Senators about this. And NOBODY (no big shock here?) ever contacted me.

The truth is they don’t give a s**t about anything but themselves. The bottom line with Obama? He gets 30 death threats a day. Do you REALLY think he’s going to do anything that will piss off the 99.9% White Power Elite?
Michael Le Couteur, MSCD ret'd | August 5, 2009 at 4:46 pm |

Long live Octavia!!!

Thank you all at The Onion for bringing joyous tears to my eyes. What a good laugh.

Now lets watch as the deluded actually try something like this and the mutton headed sheople just lap it up.

All hail Octavia!!!