Worldwide economy

[trog100]

this has bugger all to do with politics.. its all to do with the the world living on borrowed money for the last fifteen years..

its big time global sh-t.. really big time..

a quote from a guru.. a guy that knows..

The number that stood out for me in the Bank of England's latest Financial Stability Report, which I would not recommend to those of a nervous disposition, is its estimate that £5,000bn has implicitly or explicitly been made available by central banks and governments since April 2008 to support wholesale funding by banks.

That is a genuinely big number. It's equivalent to about a sixth of the total annual economic output of the whole world.

So to put it another way, we as the taxpayers of the world are funding our banks to the tune of one-sixth of everything we produce.

big time sh-t..

trog

ps.. the debt is so big there is simply not enough money to pay it back.. and the tax payer lending money to the banks will soon stop as/when they all loses their jobs..

 

[e-pipeman]

City Bankers. Nobody is suggesting that these deeply talented people should lose the bonuses that they have sweated so profusely for, are they?