BOSI - Job losses 750

[charley]

And do people's loans deflate with that? We are a massive leveraged society. Number 1 in the world.

If disposable income shrinks and credit is unavailable how do people consume more?

peoples personal debt is their own problem,i know it sounds unfair but the harsh truth is no one held a gun to anyones head to take out a loan, if you can't pay default simple as that ,they can't put everyone in prison

[politicaldonations]

No confusion. I am aware of the figures. Debt is debt. Pre Tax Net National income shrank to about 80 Billion in 2009. The debt ratio for this is about 500%. Add in General Government debt of 110 Billion it is 450% of GNP. And that's before external debt.

Deflation crucifies borrowers, rewards savers. The country has about 100 Billion in savings. We are in debt 5 times as much as we save.

Lights out.

Well i hav no personal debt and they can sing for it if they think im paying for companies or reckless individuals debts.

[Cassandra Syndrome]

A lot of staff in AIB and BOI are twiddling their thumbs, once SCAMA is active they will be fired.

Oh yeah, what's the latest on that Ponzi scheme?

[Digout]

Oh yeah, what's the latest on that Ponzi scheme?

FF are waiting for the EU to write the cheque, but Franz and Gunter aint falling for their half truths and lies.

[Cassandra Syndrome]

Well i hav no personal debt and they can sing for it if they think im paying for companies or reckless individuals debts.

Neither do I, but I do not believe in Solipsism.

[Cassandra Syndrome]

peoples personal debt is their own problem,i know it sounds unfair but the harsh truth is no one held a gun to anyones head to take out a loan, if you can't pay default simple as that ,they can't put everyone in prison

Its what people were conditioned to do. To own a house you had to get a mortgage. For a company to compete it needed to borrow for working capital. The "level playing field" was dictated by the Fractional Reserve Banking system whose greed trickled down into the masses psyche.

[Cassandra Syndrome]

FF are waiting for the EU to write the cheque, but Franz and Gunter aint falling for their half truths and lies.

Busy cheque book at present to, what with Greece out with their begging bowl...

[tonic]

unless we address this correctly the point of critical mass will be reached and the system will implode. George Lee knows this and tried to talk sense to the lunatics inside the Dail but to no avail.

Options?

He could try his hand at the 2.00am to 6.00am slot on RTE radio. General chit chat, a bit of upbeat music, you know a sort of "it's great to be alive this fine morning" sort of stuff.

[tonic]

No confusion. I am aware of the figures. Debt is debt. Pre Tax Net National income shrank to about 80 Billion in 2009. The debt ratio for this is about 500%. Add in General Government debt of 110 Billion it is 450% of GNP. And that's before external debt.

Deflation crucifies borrowers, rewards savers. The country has about 100 Billion in savings. We are in debt 5 times as much as we save.

Lights out.

And we've no assets at all for all that debt? That's shocking so it is.

[Mitsui2]

Now that you mention it. I seen a MW (new moniker) beating a child not so long ago and he was wearing Armani shoes.

The child?!?!?

Hmm... Hey, maybe when we run out of adult scapegoats we can just turn on kids! Just think of it - there they are with their Xboxes and new mobiles, living the high life, getting chauffeured around the place while contributing nothing to the economy, far too many holidays and leeching off the State for the children's allowance, etc etc etc.

Man alive, they're the perfect patsies!

Thanks for the inspiration, sauntersplash - I'm gonna email FF HQ right away!