Community Views : What’s on the boards today….24th Nov 2010

24th November 2010

The Daily Telegraph

"Borrowing costs for Portugal and Spain have surged to danger levels on fears that Europe's leaders are losing political control of the Irish crisis and have yet to agree on a coherent plan to tackle the eurozone's deeper debt woes."

The Automatic Earth thinks: "All Europe is doing is moving IOU's from one pocket to another. The banks and the EU nations are all still insolvent and everyone is pretending things are okay while knowing that the situation is nothing but a farce. The problem isn't liquidity, it's solvency and it's structural: excessive debt levels, demographic shifts, declining competitiveness etc."

The Daily Telegraph

"America's economic recovery will be weaker than feared next year and do little to bring down unemployment until at least 2013, according to new forecasts from the Federal Reserve."

BazzaMcKenzie comments: "Just like the EU and ECB, the Fed is thrashing around and trashing the US economy with policies that are guaranteed not just to fail but to create further damage to the public. They are doing this because they refuse to admit their prior policies were gravely damaging and in order to hang onto power as long as possible. Who knows, if they're lucky there may be a war and then all the prior damage will be overlooked so they can stay on the gravy train. These people are depraved. They will sacrifice tens of millions for their own advantage. They are essentially in the same category as Stalin and Mao."

The CNN Money community also have their opinions on this:

Robert Sparks comments: "I don't see anything surprising here to be quite honest. Warren Buffett stated several months ago, in an interview on CNN, that he felt economic recovery would take 3 to 5 years. The Fed is saying this, the White House is saying this, and financial analysts are saying this. But, people are impatient, these aren't good times, and it's understandable."

The Daily Telegraph

"Japan: land of the rising debt . A huge deficit and a falling population threaten to push the country back into the dark days of deflation, and leaders are willing to attempt anything – even failed British ideas."

‘Cool Japan' is their ‘new' idea – with the attempt to boost exports of Japanese Culture – from Video games and comics to fashion.

olly_2001 thinks: "Good for Japan. They are becoming sustainable. The dreaded deflation only helps the man on the street. Don't believe the lies of so-called economists and pseudo-intellectuals -long working hours, population growth, inflation or your pension wont be worth anything…crap. is anyone feeling better off with the west signed up for eternal growth?"

City Wire

"Help needed for homebuyers – before disaster strikes. The Building Societies Association is calling on government and the housing industry to look at new ways to prevent these struggling homebuyers from being pushed over the edge and suffer repossession of their homes."

William Bishop comments: "Interest rates are unlikely to go up significantly unless/until the economy is clearly perceived to be recovering strongly. If the economy is recovering strongly, the financial position of many householders should improve. There are plenty of genuine problems to be addressed without inventing more dubious ones."

The Guardian

"Annual cost of car ownership rises by more than 6%"

Damien63 comments: "Excellent!! Let the b*st*rds pay for their sin of driving a car in the first place! Wasteful, polluting, selfish! I will be happy when every car is consigned to the scrap heap! How many dead on our roads every year?"

The Independent

"The chairman of the Financial Services Authority, Lord Turner, has hit back at critics who have accused the regulator of creating a "mortgage famine" with tough new rules on lending, especially to first-time buyers."

Nicknuts says: "It's simple. Raise interest rates (commercial sector is not borrowing anyway)

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