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TSA
10-10-2008, 12:42 PM
it looks like everyones gov is trying to bail out their private sectors cause of the credit crunch.


i just heard australia was is morning, and now Nigeria is doing the same, only their effort is purely private sector run (and will therefore work). a bunch of banks are getting together to save da stock market.

so yeah, how is YOUR gummbament dealing with the gayness of the economy? or how is it effect where you live (if you've noticed any change)

Longbongcilvaringz
10-10-2008, 12:49 PM
Australia's stock market today took the biggest hit since 1987.

I doubt any 'bail outs' will be happening here, some of the major banks have had decent years.

It's different here.

The government here is doing nothing as far as i know, interest rates are being cautiously cut though.

The major banks aren't transferring this onto their customers though, so...

But Australia has resources....

It's the fallback for anything fiscal distress and uncertainty here.

SL33
10-10-2008, 03:57 PM
i'd say that some form of intervention is needed,and not just during crisis. totally free market (or today's market, whatever) is a disaster, but the main problem here is finding balance between bailout or 'help' and light sort of socialism.
i've heard that only china, russia and india are immune.



very good thread ,TSA, but it will come unnoticed due 2 internet beefs, shemales, and homo threads.

Longbongcilvaringz
10-10-2008, 04:19 PM
Depends which country your referring to.

Obviously the US.

A lot of other countries have economies which internally operate perfectly fine.

Unfortunately, they're all either reliant on China or the US.

Boss_Digger
10-10-2008, 04:43 PM
There bailing out in the uk which will end up being at our expence and were all already the highest tax paying country!! Iceland has caused us major headaches to cos they havnt protected money for british depositers like they should of. Now their in the shit with possible government bankruptcy so our government are having to bail them out as well, but its deeper than that because a lot of our local councils that we pay a lot of our tax to had money in Icelandic banks that have gone tits up so now we will end up getting taxed more on that to, to recover the losses.

Even if all governments bail there banks out and there all hunky dorey again theres still the problem of cash flow. People need to spend and borrow to circulate the cash around the world like an economic bloodline. If this doesent happen eventually the banks will fail again and then we will be fucked!! But of cousre theres the problem of public confidence, with all this happening so quickly people are shit scared of doing anything with there money so they just do nothing as a defence mechanisim. This is why we had the crashes in the stock markets. IMO this is far from getting resolved with bail outs but only time will tell.

TSA
10-10-2008, 04:44 PM
The US economy is huge and therefore harder to 'manage'.

when economies are good ppl want freedom, when things get bad the wanna commi-up.

Economics is something nobody, even economists, really fully understand, but one thing has been consistant, to more ppl try to make a perfect economy from ideas they have the worst shit gets.

there was an incident in france right before the french revolution (which was the beginning of applied capitalism) where a guy owned Lousiana, and decided the can make himself and everyone super rich by getting them to by stock in the Lousiana Territory, he was the richest man in the world cause of it, but rumor got out that Lousiana sucks and everyone paniced causing the economy of france to completely collapse and everyone wanted him and his faggot capitalism dead.

he ran back to scotland(where he's from) i think his name was John Law. Anyways yeah, the collapse is what cause the staggering wealth gap that led to the french revolution and the super cheap selling in the Louisiana Purchase.

then theres more examples of faggots with their ideas like Marx, Smith, and almost every single economist ever. It wasn't till recent times that all of economy was proven wrong, or unscientific cause it was just observations of stuff that happened and tieing knots together after the fact, and on top of that it was a bunch of people trying to think up 'the perfect economy' a spur of thought that was sparked in the medieval book Utopia, which is notoriously dilleriously dillerious and wacky if you read it, but to think that it's the base of a 'science' that we have been trying to run ourselves under.




so yeah. economics is a sham, as is psychology which i'll get into so other time. It's all been proven wrong with the advent of game theory. Game Theory observed that ppl play games in everything the do in life, which is true and mathematically mapped out all of them. Then they applied it to economics and were suprised that it didn't work. They came to find out that they themselves weren't wrong about games, but they were wrong in assuming people always make the correct or logical move, or that everyone is playing the same game and want the same outcome.
Infact, the only people that consistantly made the right moves, and the people that valued victory in these games the most were dictators, psychopaths, and economist

that's why communism socialism captialism, is all a sham.

Longbongcilvaringz
10-10-2008, 04:50 PM
Countries in Scandinavia pay more income tax than the UK im pretty sure.

Sweden, Norway + The Netherlands, France etc. have higher levels of income taxation.

So does Australia actually.

And Senegal...

The corporate tax rate is also pretty much low / average.

HANZO
10-10-2008, 04:59 PM
basically this bailout crap is gonna cost the average tax payer in England, 16,000. the FTSE100 lost 8.9 points today. fucked.

Even Soccer teams are getting effected. In total british soccer teams have $6billion of debt. West Ham united which is owned by an icelandic man has no money no more.

TSA
10-10-2008, 05:02 PM
that would never pass in america, that's where the difference comes in

in Nigeria people don't pay taxes cause government gets its money from oil. It's actually been to the bane of the ppl cause now the government has no reason to be accountable to them since they're not a source of income or sustinance, prior to oil being found the economy was growing at 7-9% annually and everything was working. When oil was found the country was 'richer', but everything went to hell cause ppls taxes didn't matter and therefore they didn't matter. the places with the most oil are acutally the worst off. the whole place is a tragic experiment in absolute free market capitalism.

the economy is back to pre-oil growth rates and shits starting to work again but its cause the government is retreating from controlling things and hospitals, schools, road ect ect are being built by regular people with an acutal need to do it.

the culture says that people with something have to give to everyone else, if you go on a trip, you have to bring back something for everyone and if you rich you have to put the poor ppl in your extended family through school and so forth.

therefore super rich ppl are building shit the government should have done, and it's functioning was better then when the gov were doing it, and ppl with actual commerical interests in good roads like transport companies get together to fix roads so that they can make more money.

the government controlled banks and phones for ever, and when they let go and privatized the banks and phones industry grew 500% annually.

A country with a failed bank system in 2002 established branches in England as well as almost everywhere in africa in 2006.


so yeah, not paying taxes can work if ppl decide to go all the way with it can completely get gov off their dicks, no half assing it. At the same time paying super high taxes allows ppl to actually have more money in the long run and be richer, which is more appropriate for the west cause they don't have the cultural rules and beliefs what would cause rich ppl to consistantly build schools being that it's individualistic.

Longbongcilvaringz
10-10-2008, 05:04 PM
8.3 per cent down yesterday woooooooooo

hedgingzzzzzzzzzzzz

i should start that thread wit finance qestions some time and finally answer the q about hedge funnnzzz.

Boss_Digger
10-10-2008, 05:05 PM
Countries in Scandinavia pay more income tax than the UK im pretty sure.

Sweden, Norway + The Netherlands, France etc. have higher levels of income taxation.

So does Australia actually.

And Senegal...

The corporate tax rate is also pretty much low / average.

Sorry I didnt explain myself very well I didnt just mean income tax I ment taxation as a whole cos theres Income tax and National Insurance both taken off our wages which equates to around 25% of our wages, Council tax which is a whopping great tax for local sevices mine for example is 18% of my wages before Income tax and national insurance , Value added tax which is 17.5% of off all purchases and we make and services such as gas, electric and phone bills, Internet etc. We pay the highest rate of tax on ciggeretts, alcohol and fuel the list goes on and on!!

HANZO
10-10-2008, 05:09 PM
dnt forget Olympic tax for Londoners coming up to.

England has become stupidly expensive lately. alot of ppl cant get by anymore. ppl cant afford cars. but they still cant afford public transport no more to cause thats expensive as fuk to.

Longbongcilvaringz
10-10-2008, 05:10 PM
I see what you mean.

Having to pay Federal and Sate tax separately must suck.

IrOnMaN
10-10-2008, 05:12 PM
You guys are awesome! Keep up the good work!

HANZO
10-10-2008, 05:16 PM
the value of the dollar is rising to.

this economic crisis is getting bigger by the day. today $250billion was lost. Iceland is going bankrupt. its not a bank, a fuckin country is going bankrupt. the only nations that aint been heavily effected are the ones that dnt heavily rely on the US economy.

SL33
10-10-2008, 05:20 PM
. the only nations that aint been heavily effected are the ones that dnt heavily rely on the US economy.


see Pat, this is what they probably thought by saying that China India and Russia are almost immune. so i guess that europe is in the deepest shit.

Boss_Digger
10-10-2008, 05:33 PM
I think everyone is in the shit cos everyone relys on something from someone. China for example is a huge exporter of electrical goods but if people stop buying these goods around the globe cause they cant afford them then that causes china a problem with there export revenue. This is early days in this situation and no one is imune unless there economy is entirely self sufficient.

TSA
10-10-2008, 06:06 PM
everyones dependant on the US economy, that's the problem.

the worst hit ones will be the ones most dependant like the other guy said, and the ones that use credit the most

japan isn't gonna have it as bad cause they don't use credit as much as the west, everything is real cash. china and korea are the same ways

europe, and america are really really fucked.

TSA
10-10-2008, 06:09 PM
oh and pat, make the thread,

and han, that iceland thing is weird cause it was just rated the best economy in the world this year lol

it was (like most of the west) artifically propped up on credit i bet.
i heard that countries are callin in their debts from the US


that's like, trillions of dollars of unpayed bills.
daaaaaammn.

HANZO
10-10-2008, 06:10 PM
yea Europe and America are fucked. ofcourse every stock exchange in the world closes the days with loses. but the euro markets are taking a beating. while Asia is jus getting jabbed in the face alot.

Iceland was probably seen as a good economy cause European countries, especially England put its money in Icelandic banks. well now those banks have gone bust. we lost our money.

nothing being certain in the stock markets is also a reason for them falling. traders are not confident anymore. anything can happen.

today i overheard some business guys on the metro talking about Russia bailing out Iceland. basically buying it out. which i thought it total madness and probably bollocks.

TSA
10-10-2008, 06:50 PM
aawwwwwwww.

on the good side the price of gas is fallin the fuck off

suu!