if they totally crash ,millions worldwide will suffer.are we ready to be bankrupt?
2007-08-16 23:24:00 · 15 answers · asked by steven e 7 in Business & Finance ➔ Investing
Well once again we are like sheep and following the American route to destruction. They are in a mess because they lent money relentlessly, now we are following suit with British banks/lenders tweeking the figures to lend money when really they should not be and offering loans to slightly at risk customers at a higher rate. Then with the interest rates going up people cannot then afford to pay back the money, hence more people filing for Iva's and bankruptcy.This is what the American lenders/banks did and look what's happened. Of course lenders or bank officials reading this will deny this is happening but believe me IT IS, employees are told to reach targets, sell products and lend, but if something goes wrong then their employers deny telling them to do this and they get sacked! It's all because of TOTAL greed on behalf of lenders, banks etc and they don't care what happens to you when they've off-loaded money on to you so long as they get it back, My advice is DON'T BORROW, if you can't afford it then live without it until you can. Now there is something in the air to stop people going or filing for bankruptcy and Iva's (as the Americans have done) and you will HAVE to pay back even at 0% interest. So Yes I do think we're heading for a fall because we've followed the Americans and are about to jump over the cliff like the stupid sheep we British are!
2007-08-17 00:20:05 · answer #1 · answered by Soup Dragon 6 · 1⤊ 0⤋
First, if they crash millions will not suffer or at least not much. It will reduce the retirement income of retirees and corporations will be required to infuse more money into pension programs, but it is unlikely people will lose their jobs. The crash of 87 cost no employment at all. The 1929 crash also didn't impact jobs. Jobs were lost and the market crashed because of the use of the gold standard.
Personally, I hope the markets crash. Crashes are wonderful things to invest in.
2007-08-17 02:34:59 · answer #2 · answered by OPM 7 · 0⤊ 0⤋
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2015-01-25 03:41:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Not nearly as bad as last week. I have been buying the financials and the refiners. The regional banks hardly moved today (some actually went up). There might be a little more pain but I can take it. In ten years the positions that I am buying now should pan out.
2016-04-01 19:11:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Not really a crash.
Maybe there will be one in a few years when
the Chinese pull the carpet from under US Treasury securities.
As I'm afraid that Washingtonrs protectionist intentions
will at the end ruffle the dragon's hair.
2007-08-17 02:47:36 · answer #5 · answered by pgreen 6 · 0⤊ 0⤋
Charts suggest medium term bullishness...
Use these opportunities in buying quality Growth stocks....
HEWLETT PACKARD CO..is showing some trending
HEWLETT PACKARD CO is at 45$ it can hit 48$ in the next 2 months.
2007-08-16 23:45:02 · answer #6 · answered by Advisor 2 · 0⤊ 0⤋
There is nothing to worry about the last couple of weeks have seen billions lost mainly caused by American banks trying to re-coup some of their lost money because of loan defaults but things are picking up now
2007-08-16 23:37:09 · answer #7 · answered by Anonymous · 0⤊ 2⤋
If the global economy were to collapse, it would be an opportunity for us to rebuild. We could make things better from the ground up.
2007-08-16 23:36:26 · answer #8 · answered by xenobyte72 5 · 3⤊ 0⤋
do u have to think of doomsday only, sonny be positive, think positive. such things have happened many times in the past and again it comes back to normal. it is only a question ot time
2007-08-16 23:32:16 · answer #9 · answered by Anonymous · 0⤊ 0⤋
About time too, it will knock reality into the 21 century.
2007-08-16 23:35:13 · answer #10 · answered by wonderingstar 6 · 3⤊ 0⤋