Downtown Reykjavik City, Iceland FINANCIAL CRISIS ~ oops

Where is Iceland?

The capital Downtown Reykjavik:

The financial news there is rocky, very rocky...

Iceland's economy is on the brink of collapse, after the krona
fell 27 per cent against the dollar last week. The fall sent fresh
shockwaves through the UK financial system, as Icelandic banks
have invested billions in the British economy. One of the biggest,
Kaupthing, is estimated to have underwritten about £3bn in debt
to finance deals in this country, and just two of the banks have
more than 150,000 British internet customers.

Wow!

The $700 Bailout (1 day result)




I am thinking back to the historical stock market chart I found (and talked about on Intuitive Blogger) in March 2008.




I was asking: are we in for a kondratieff winter? (starting this sumer)

Publish Post

Well it looks like the time has come to put on our winter coats.

We must finally acknowledge this and find ways to live within our means and become sustainable. My intuition about the 700 billion bailout doing Jack Shit (not working to alleviate the mess in the stock markets) is happening and Europe is panicking (they find it harder to print money or do whatever short term thing it is to add another band aid to this joke of a bank system that has been allowed to go on for so long).

• Brown convenes economic 'war cabinet' Prime minister appoints Paul Myners, chairman of Land Securities and Guardian Media Group, as City minister. By Richard Wray

• World economic crisis: France moves into recession The French premier, Francois Fillon, today warned that the world was "on the edge of the abyss" as his country moved into an official recession.

• Haunted by history America has never fully forgotten the horrors of the Great Depression. Could the present economic crisis lead to suffering on a similar scale once again? Clive Webb examines the parallels

THE TERM JACK SHIT: from urbandictionary.com/ JACK SHIT Definition: Nothing, or something equivalent to nothing. Jack shit has the remarkable property that its absence and presence are identical. Typically used with or without a negative to describe a total lack of knowledge, value, or significance. Its use carries a strong negative connotation which can express frustration, disdain, ignorance, or other negative qualities. I don't know jack shit about that. / I know jack shit about that. It's worth jack shit. / It isn't worth jack shit. I didn't get jack shit. / I got jack shit.

(I used to play in a band called Jack Shit)

Intuition tells me this bailout is a waste of time and money!

Intuition tells me the US $700 billion dollar bailout is not going to save the world and avert a global bank seizure...

I leave you with this article from forbes, who lable their journalist "Mr. Doom!"


My advice to average newsreaders is to start reading news sources not owned by special interests...
Here is a good example:

http://www.democracynow.org

Here are a few suggestions I think could save the world... Sustainability, Public transport, Diplomacy, no oil for the car lobby, no Rupert Murdock news, no bush regimes, no bill boards, No bad taste adverts on TV (I prefer no TV), Good Education for all, Free healthcare for all, Tolerance. Compassion!

hoorah

Hoorahh!!!!

AS A US TAX PAYER I AM THIS MUCH POORER TODAY, AS A RESULT OF THE $700 BILLION BAIL OUT TO HELP A BUNCH OF A-HOLES:

...and this probably will not do the trick either:
http://www.reuters.com/article/topNews/idUSTRE49267J20081003

turmoil

All I can say is this should be no surprise.....




"The financial turmoil that began in the summer
of 2007 has mutated into a full-blown crisis"
....the IMF said in its semi-annual World Economic Outlook yesterday.

http://www.independent.co.uk/news/business/news/us-bailout-likely-as-imf-warns-of-fullblown-crisis-949708.html




Schwarzenegger to U.S.: State may need $7-billion loan



SACRAMENTO -- California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks.

The warning comes as California is close to running out of cash to fund day-to-day government operations and is unable to access routine short-term loans that it typically relies on to remain solvent.

http://www.latimes.com/business/la-fi-calif3-2008oct03,0,5726760.story


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bailout_plan.pdf

Are people going mad? Is $700 billion enough money to save the banks?
($700 billion, by the way, is enough money to fund NASA's programs for 30 years).

Anyway, here is a 451 .pdf document requesting this 700 billion bail out. This piece of paper is expected to save our lives and bank managers who are in dept :)

Click on image


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Oh my god Sarah Palin!

Does Sarah Palin not read any newspapers? (it certainly seems the case from this video)
This is not even funny, you must watch it to believe it


I think Sarah could refer to http://intuitiveblogger.blogspot.com as a news source!