What fascinates me .. America .. had the Mortgage meltdown with a domino effect .. basic result of reckless lending where equity eventually was overtaken by the debt cos the model of the house prices always rising fell to the ground .. they make the kak and well we introduced our NCA etc to try help protetc our citizens .. I recall when i was in a bit of a tight squeeze some years ago .. equity far exceeded the problem but my bank wouold not budge ... and yes its a good policy .. only is still the offers of credit cards and personal loans ... anyhow theoretically the $ should have plummeted .. not so .. the rand fell against the dollar .. apparently something to do with oil supporting the dollar.. mmm take the oil away from the dollar and they f..... d .. anyhow in the usual bits of junkmail that somehow seem to slip through I got this .. I was gobsmacked .. no wonder they got financial problems that make ours look like a walk in the park .. only people that get cars in this country when bankrupt are the likes of JZ and the connected .. ha ha ...
Got a few more of the above in my mail .. Prevent bankrupcy ,, etc etc .. all basically debt restructuring via a mortage ( not much chance with the meltdown affecting house prices ) .. only way that could ever work is if the provider of the rescue loan cut up all the borrowers credit cards .. cos what most people would do is just go on ahead on a spending spree again .. its what someone refered to as rampant consumerism .. the percieved need to have the latest new TV ,, game player , cellphone , Hi fi .. car .. clothes , jewelry .. bling .. lifestyle ... champagne taste on beer money ...
This always fascinated me, they ain;t ever gonna get outta this one\
Here's the link: http://www.brillig.com/debt_clock/
Wonder if there is a clock for SA ?? and if so where do we stand ?? and what is the acceleration rate if so ..
If there was a clock for ZA, somebody either pinched it or.... it runs on electricity from Eskom......... which in that case means it won't be keeping pace.....
:buffo9:
ha ha good one .. stolen or slowed down or blown due to power drops or spikes ... but seriously ... I mean we introduced the NCA last year and from my readings in the papers it is having a slowly improving positive effect .. and in fact between some rigidity in our exchange controls and the NCA we in SA largely not hit too hard by americas folly excepting the rand still looking like gaai to the dollar ... as said take away the pegging of crude oil to the dollar and see what happens ???
Well, I for one never liked the exchange control acts... I mean , if that is your savings and you want to emigrate to Outer Mongolia in the middle of winter and take your 1 million rands worth of kruger coins with you, then so be it...you should be allowed to and not restricted to 250 000...... And how does this protect us, the rand hovering around 10.00 bucks to the Yankee Dollar..... what happened to 7.00 to the dollar? They reckon that currency pirates hit emerging currency';s every few years and you better hope and pray that the local treasury has enough foreign $$$$$$ to bail it out......
I believe when 2010 gets here, we should see 6.50 to the dollar, with all the foreign currency flowing in for the world cup, unless somebody steals that also....
23_146_26
What a foolhardy nation ... thank g... for our NCA ... and yes some exchange control ,, far more relaxed than in the dark years , has been a bit of a buffer ... and yes we should be taking advantage of their panic, buy sell mentality .. and our stock market should not follow theirs .. what is it fashionable to all go inot panic simultaneously ??? ape ... more junk mail today from the good old US of A .. they in some sort of meltdown yet this crap carries on... ?? HUH !! credit cards offerd to suit your own self inflicted state of domestic financial dissarray ... ???
Reading the paper tonight .. David Biggs mentioned last night that he was going to visit a daughter in Canada soon ,, he related some of the differences between canada and America ... one being they have always had a conservative economy and are not being shaken as badly as America and the rest of the world .. he posted tonight that canada has right now one of the most stable enonomies ... america 40th on the list .. England 44 th but believe it or not SA 14th ... so yes we will be affected but not as badly .. sadly our currency does not reflect the stability , but so what it outs us in plum position to export ... well tats if the rest of the world is in a postion to buy .. see how O'mund is affected by the drop in demand for diamonds >> so lets all hang in here on the tip of africa ...
Sandy Michael.
I was reading your posts on the financial crisis, you were showing an advert for (basically) people with no money
or assets.
That they were able to contact the company and buy anything they wanted.
We have identical products as they like to call it enticing people to enter into these contracts.
Its called 'FINANCE WIZARD SAYS YES' depicting a married couple, two kids standing by a new house
and the keys to their new car.
I don't no how they get the money out of them (hound them for the rest of their lives) but I know the interest rate
they pay to these people is a lot higher than the ordinary banking systems
You were saying 10 to1 American dollars if you google (xe currency) it gives a table Canada is 5th Australia 6th
and RSA 10th.
There are so many variants to assessing a county's economy .. suppose a liot could be smoke and mirrors as well .. it still beats me hoe the U S of a dollar has not plummeted .. but then OIL is pegged to the dollar ... we should go back to the old fashioned currency linked to GOLD .. and then see what happens .. but yes conservative policies are better in the loing term .. and yes i keep on getting the junk mail from USA ....
SANDY.................................. drinking-41
MONKEY BUSINESS
Once upon a time a man appeared in a village and announced to the villagers that he would buy monkeys for $10 each.
The villagers, knowing there were many monkeys, went to the forest and started catching them. The man bought thousands at $10 and, as supply started to diminish, the villagers stopped their effort.
He then announced that he would buy monkeys at $20 each. This renewed the villagers efforts and they started catching monkeys again.
Soon the supply diminished and people started going back to their farms. The offer increased to $25 each and the supply of monkeys became so scarce it was an effort to even find a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50 each! However, since he had to go to the city on some business, his assistant would buy on his behalf.
The assistant told the villagers, "Look at all these monkeys in the big cage that my boss has already collected. I will sell them to you at $35 and when my boss returns, you can sell them to him for $50."
The villagers rounded up all their savings and bought all the monkeys for 700 billion dollars.
They never saw the man or his assistant again, only lots and lots of monkeys!
Now you have a better understanding of how the
WALL STREET BAILOUT PLAN WORKS !!!
It doesn't get much clearer than this........ ha ha