Rolling US Economy Into The Shitbin Thread

looooooooool

http://cache.gawker.com/assets/images/consumerist/2008/10/economistohfuck.jpg

oh; it's not real

less lol

lol

Economist would never use Verdana Bold.

^ good eye

also no life.

What the hell does: "Bush pledges "we're going to come" this economic crisis."
http://www.cnn.com/

What the hell does... it mean??

it was changed to overcome in the last 16 seconds dudes

Ha, they fixed it to "overcome"

Seconds count.

Hahah, what was that Chris Morris bit where he cut up the 'we're invading Iraq' State of the Union address to 'every soldier will come'

anyone read Fukayama in Newsweek?

And while fewer non-Americans are likely to listen to our advice, many would still benefit from emulating certain aspects of the Reagan model. Not, certainly, financial-market deregulation. But in continental Europe, workers are still treated to long vacations, short working weeks, job guarantees and a host of other benefits that weaken their productivity and will not be financially sustainable.

Fuck you, fukayama.

If we all club together I reckon we can buy Iceland.

0.5% interest rate cut by the Feb ECB and BoE

american workers live a curiously dogged and unliberating life - two weeks for vacation means one week spent with family at christmas and then - if you take no random days off the rest of the year - one week for some kind of other vacation. that's not enough time to recharge, not enough time to rest, not enough time to see anything

kondriateff is going to say that's a huge mistake but - why?

(re: rate cut i mean)

Yeah really how much vacation does Francis Fuckyamama get?

Is it getting cheaper to holiday in Iceland?

Will there be pretty Icelandic girls coming over here and stealing our jobs?

hahahaha http://www.sorryimissedyourparty.com/2008/10/partys-over-wall-street.html

Will there be pretty Icelandic girls coming over here and stealing our jobs?

― Matt DC, Wednesday, 8 October 2008 13:55 (10 minutes ago) Bookmark Suggest Ban Permalink

I just bought iceland, I can send you Briggitte Gundmundsottir of Ólafsfjörður for low low prices.

http://www.treehugger.com/files/2008/10/memo-to-government-housing.php

Yea but Tracer we have weakened productivity!

If we all club together I reckon we can buy Iceland.

KERRY KATONA MEAT RAFFLE! GET IN!

relieved at UK bank move:

http://content9.flixster.com/photo/32/48/92/3248927_tml.jpg

How can you be productive if you hate your job because you can enver get away from it, and spend 4 hours a day surfing the internet??

Visiting my grandfather last night, he informed me that he learned from the radio that this whole economic crisis can be traced back to two laws: the Community Reinvestment Act signed by Carter, and some other law passed under Clinton, whose name he couldn't remember. He said these laws required banks to loan to low-income borrowers regardless of whether or not they could afford it.

I didn't want to get into it, so I just said that it seemed strange that a law passed 30 years ago could have caused the crisis we are in now.

Did he say Boxcar at that point?

Boxcar? No, he just kind of reaffirmed that it was in fact caused by those laws, and we left it at that.

"learned from the radio"

i wonder which reputable program he was listening to

Me too. I imagine it was some conservative leaning program. He's generally pretty conservative, but I don't think he listens to Limbaugh.

that shit is everywhere

not to break godwin's or anything but a party trying to race-politick its way out of an economic collapse is ahem something to be concerned about

ok I love Iceland, but Iceland's main prongs of their economy has been a) lots of desert glacier offroading, and b) "omg this is where BJORK and SIGUR ROS are from! it's like soooo rad". Iceland has been proudly neutral to anything political all this time, with the occasional "lol we be whalin' and getting mad ass drunk" aside. Good luck to whoever wants to help out Iceland.

All the ex-Icelanders that moved to Scandinavia are probably just lolling right now.

I'm fairly sure I just heard on the radio that the British government is considering suing Iceland to cover the costs of paying back Icesave account holders. But I wasn't quite paying attention.

Britain threatens to sue Iceland to protect savers
By JANE WARDELL – 3 hours ago

REYKJAVIK, Iceland (AP) — Britain added to the financial chaos engulfing Iceland by declaring Wednesday it planned to sue over lost deposits held by thousands of Britons with Icelandic bank accounts.

The news from London even overshadowed an emergency loan Wednesday from Sweden to Iceland's biggest bank.

The promise of legal action by the British government to recover deposits belonging to 300,000 British account holders with the Icesave Internet bank came after its parent, Landsbanki, was placed in receivership.

"We are taking legal action against the Icelandic authorities," Prime Minister Gordon Brown told journalists in London. "We are showing by our action that we stand by people who save."

British savers have deposited millions in accounts through collapsed Landsbanki's Internet operation Icesave, which has suspended withdrawals.

Treasury chief Alistair Darling said the British government would also guarantee all customer deposits at Icesave, even if they were above Britain's standard 50,000 pound ($88,000) protection plan because Iceland was refusing to meet its guarantees.

"The Icelandic government, believe it or not, have told me yesterday they have no intention of honoring their obligations here," Darling told the British Broadcasting Corp.

Darling added that savings bank ING Direct UK had agreed to buy more than 3 billion pounds ($5.3 billion) of deposits held by around 180,000 British savers with two other Icelandic-owned banks, Kaupthing Edge and Heritable Bank, which is owned by Landsbanki.

Icelandic Prime Minister Geir H. Haarde, who has complained of a lack of support for the country's financial crisis from other European nations, is due to make a statement on the crisis later Wednesday.

ok I love Iceland, but Iceland's main prongs of their economy has been a) lots of desert glacier offroading, and b) "omg this is where BJORK and SIGUR ROS are from! it's like soooo rad". Iceland has been proudly neutral to anything political all this time, with the occasional "lol we be whalin' and getting mad ass drunk" aside. Good luck to whoever wants to help out Iceland.

― obamaloverholeinyohead (Mackro Mackro), Wednesday, 8 October 2008 17:28 (8 minutes ago) Bookmark Suggest Ban Permalink

Also massive aluminium smelters attracted by cheap electricity and lax environmental standards.

and fish

and buying up UK fashion retail chins, which I think is where the problem lies

A good debunking of the CRA blame-game by Daniel Gross:

Subprime Suspects
http://www.newsweek.com/id/162789

jim cramer was on colbert two days ago and he kept repeating that rumor too, that the government was lending to unsafe buyers

Well, it's true that Fannie & Freddie did purchase too many unsafe loans (they called them Alt-A). But making it sound like that was the whole story, or even the main part of the story, is where this narrative takes leave of historical reality.

yah i mean thats what he was doing - watch the episode on colbert
http://www.colbertnation.com/the-colbert-report-videos/187307/october-06-2008/jim-cramer

ok I love Iceland, but Iceland's main prongs of their economy has been a) lots of desert glacier offroading, and b) "omg this is where BJORK and SIGUR ROS are from! it's like soooo rad". Iceland has been proudly neutral to anything political all this time, with the occasional "lol we be whalin' and getting mad ass drunk" aside. Good luck to whoever wants to help out Iceland.

― obamaloverholeinyohead (Mackro Mackro), Wednesday, 8 October 2008 16:28 (50 minutes ago) Permalink

they're heavily invested in canada's north atlantic fishery, so it could prove a disaster for, say, newfoundland. i think it's mainly landsbanki.

just in the non-glib spirit that iceland is not unconnected to the rest of the world...

Lehman Bros Chairman Dick Fuld gets punched in the face

sorry if this has been posted already