OT Kinda--Brit Economy

There's a nice but gloomy little piece on the present Brit economy-and probably representative of a good part, if not all, of the EU economy...go to guardian.co.uk; on the left side, under ""EU calls for summit on bank crisis", click on the subarticle "Observer: Crash of 2008".
States, among other things, that their housing bubble worse than ours, at least from their side.
(May be of interest to those growing, processing or handling crops or materials for export to that part of the world, or importing from those areas).

EU banks also invested in our sub prime mess. Isn't gloabalism grand ?

I forgot the Guardian changes its page everyday...today, on the Guardian page, its a subarticle under "Germany guarantees private savings". After clicking on "Observer special: crash of 2008", an Observer page comes up, and you click on Credit Crunch: A Disease In The Heart Of Britain"

I just heard on NPR too,about the big economic mess in Germany,mortgage mess,guaranteeing savings,the whole works. Coincidental part,it was costing them $700 billion too.

I'm proud! every year my rep and I review my 401K and he's always suggesting I invest in the 'emerging markets'. Meaning offshore investments. I can honestly say that I'm truly losing my A** in a patriotic way, investing only in American funds.

Oh this thing isn't over, not by a long shot. No one ever said that the bailout bill was going to fix the problem, at least not anyone that I ever heard and I pay pretty close attention. It was supposed to "ease the credit crunch", but that doesn't mean it's going to do anything for the economy overall.

Yes, markets all over the world were down significantly today, in Asia and Europe.

This is why I was against the bailout bill. It wasn't going to fix anything, it shoulders our children and grandchildren with our debt, and I don't believe in socialism, which this is in no uncertain terms. We are heading down the slide and picking up speed now. Amazing to me that people can't see it. When you add in the AIG bailout and others, we're well over a trllion dollars of governement intrusion into the markets. We are desensitized to these big numbers we throw around these days. Over a TRILLION dollars of taxpayers money wasted. Let those firms fail, let us take our medecine and get it fixed, not pass it on to future generations that didn't cause it.

Buy some gold and hang on to your shorts. If you live in an urban area, I'd be ready to leave. If it gets as bad as many say it will, it won't be safe there. At least during the Great Depression people still knew how to get by without much and could do for themselves to a moderate degree. People today aren't nearly so able to do so, just look at Katrina.