Greece And The Eu

[Merlin]

Firstly keep up the good work Malcolm! Secondly.................well.........................I.......................................................um..................................don't really know how to say this..........................................................but..........................................I agree with Mr Darn. There I said it!

[Malcolm Robinson]

Ok guys I get it! Having now been berated by Monsta, Merlin and Mr D for my verbosity please indulge me one last time in a swansong!

Let me try and explain some of the reasons and ramifications behind this thread.

First of all I used 'Chat' deliberately because it is an open forum within our web site in an attempt to show anyone surfing into the site, for a look, there is more to it than the normal small town gossiping and back biting. It might just pique their interest enough to join up and explore the other member areas. While I don't assume any kudos for it really a 50% jump in our membership over the last few months has to mean something. It certainly gives a different dimension to our site and so differentiates it from others.

The page view and user stats go up monthly so there would seem a certain amount of readership? Or maybe a few closet masochists wanting the beat themselves with a literary whip as you suggest!

The information presented is complicated and I have trouble digesting it but I find writing it down is cathartic and clarifying in my mind. Having to work it out and then write a sentence is helpful in understanding the complex intricacies at play. I realise it is a subject most people only give a cursory glance to but a bit like politics it touches everyone. I would say if you guys have read it through and understood it you would know why your car insurances have gone up! The fact that you find it too arduous is down to me and I apologise for the presentation style, I just don't know how else to do it!

I hope at the very least you have seen some of the moves behind the financial headlines of late and understand the degenerate relationship between our governments and the financial sector.

In the flower power 1960s' parlance, the Man is sticking it to you!

And with that I will retire my quill…………………………

[Mr Darn]

I feel i have to apologise Malcolm, as you seem to have taken my post in completely the wrong way.

I was not intending to be mocking, degrading, or sarcastic, nor was my intent to berate anyone. I was simply providing feedback in what i thought was a constructive way.

I really do admire your attempt to inform us of this situation, i just get lost in your posts.

Smaller chunks of information are easier for me to digest, it is just the way i'm made.

If the posts were broken up into smaller sections, just like i am doing here, it would give me the chance to read a little, and then re-read it if it confused me at all. I can't do this if the information is contained within a big chunk of text.

Just to further clarify, i'll give an example:

In the best traditions of that late Max Bygraves, 'I wanna tell you a story'.

If anyone is wondering why interest rates are being held at zero percent penalising savers and you still cannot get a loan or sensible mortgage the answer is somewhat shocking. We have to look across the Pond and peer into the murky world of American finance and Government. First up we saw American banks, and some UK ones, begin unqualified lending practices then packaging these debts up into units which took quantum physics mathematicians to value and selling them on. These were made up of, or at least large parts of them were, what became known as toxic debts, so radioactive they could burn through titanium! As more and more banks jumped onto the bandwagon the appetite for these debts started waning and they were now being passed around in something resembling pass the parcel. Bit like the old Lloyd's asbestos insurance scam and where they stopped no one knew! The big players then just stopped all and any activities and in so doing brought the while rotten house of cards down. Did the big boys suffer, not really because they invested in government bonds instead. While the politicos were running around with their heads up their arses the banks sat back, did nothing and made a good return! What an obnoxious relationship! Before anyone is taken in by utterings about bashing the banks just remember who is bankrolling a lot of governments at the moment!

Could our political class not see what was happening? Again looking across the Atlantic let's see what happened to all that $700B Hank Paulson bailout money. It was supposed to buy up these bad debts and save homeowners etc. As soon as Congress authorised it Paulson used it to buy banking equity. Now why should they take this approach? Because it immediately came back as punters for government bonds! The banks cannot foreclose on the government, they would lose everything but they can foreclose on Joe Soap and his overdue mortgage, they can offer punitive loan rates to small businesses and they can load up credit cards and other small loans for us mere mortals! Ah, but that's America, well no the same sort of thing happened here!

Conspiracy theory? I don't think it is……………

whereas i understand what is written above, it would be easier for me to read if it were presented like this:

In the best traditions of that late Max Bygraves, 'I wanna tell you a story'.

If anyone is wondering why interest rates are being held at zero percent penalising savers and you still cannot get a loan or sensible mortgage the answer is somewhat shocking.

We have to look across the Pond and peer into the murky world of American finance and Government. First up we saw American banks, and some UK ones, begin unqualified lending practices then packaging these debts up into units which took quantum physics mathematicians to value and selling them on.

These were made up of, or at least large parts of them were, what became known as toxic debts, so radioactive they could burn through titanium! As more and more banks jumped onto the bandwagon the appetite for these debts started waning and they were now being passed around in something resembling pass the parcel. Bit like the old Lloyd's asbestos insurance scam and where they stopped no one knew!

The big players then just stopped all and any activities and in so doing brought the while rotten house of cards down. Did the big boys suffer, not really because they invested in government bonds instead. While the politicos were running around with their heads up their arses the banks sat back, did nothing and made a good return! What an obnoxious relationship!

Before anyone is taken in by utterings about bashing the banks just remember who is bankrolling a lot of governments at the moment!

Could our political class not see what was happening? Again looking across the Atlantic let's see what happened to all that $700B Hank Paulson bailout money. It was supposed to buy up these bad debts and save homeowners etc. As soon as Congress authorised it Paulson used it to buy banking equity.

Now why should they take this approach? Because it immediately came back as punters for government bonds! The banks cannot foreclose on the government, they would lose everything but they can foreclose on Joe Soap and his overdue mortgage, they can offer punitive loan rates to small businesses and they can load up credit cards and other small loans for us mere mortals!

Ah, but that's America, well no the same sort of thing happened here!

Conspiracy theory? I don't think it is……………

See where i'm coming from?

I apologise, i know i have no right to comment like this. How you create and post your replies is your own business.

I just wanted to provide a bit of positive, constructive advice, and it seems to have gone horribly wrong.

I'm sure your posts on this subject are helping others, even if they, like me, just read and do not reply, so please do not stop just because of my rantings.

I just wish i could understand it all!

[Malcolm Robinson]

Well Mr D thanks very much for that!

I do actually write the stuff up using Word and using spacing's, it's just I use the quick editor to post and that seems to squash it all up together. It's more to do with the time I have rather than a deliberate measure……………

[Andy Millne]

Have you considered using the blogs feature Malcolm for a political commentary? It may help keep things more organised and is still publicly viewable.

http://www.bedlington.co.uk/community/blogs/

[Merlin]

I feel i have to apologise Malcolm, as you seem to have taken my post in completely the wrong way.

I was not intending to be mocking, degrading, or sarcastic, nor was my intent to berate anyone. I was simply providing feedback in what i thought was a constructive way.

I really do admire your attempt to inform us of this situation, i just get lost in your posts.

Smaller chunks of information are easier for me to digest, it is just the way i'm made.

If the posts were broken up into smaller sections, just like i am doing here, it would give me the chance to read a little, and then re-read it if it confused me at all. I can't do this if the information is contained within a big chunk of text.

Just to further clarify, i'll give an example:

whereas i understand what is written above, it would be easier for me to read if it were presented like this:

See where i'm coming from?

I apologise, i know i have no right to comment like this. How you create and post your replies is your own business.

I just wanted to provide a bit of positive, constructive advice, and it seems to have gone horribly wrong.

I'm sure your posts on this subject are helping others, even if they, like me, just read and do not reply, so please do not stop just because of my rantings.

I just wish i could understand it all!

Darnie............GOD ALMIGHTY!

Do as I say not as I do! Jesus H Christ!

[Malcolm Robinson]

Just a quick update..........

Looks like Ireland and probably Greece have entered the end game with defaults almost certain. Spain and Portugal next........

China will probably buy them.......