Britain's wall street crash

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fender
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fender
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February 21st, 2006 at 10:23am
Yesterday i suddenly realized that Britain is in the midst of its very own wall street crash. take a look at the economy of this country and compare it with the Amerian 1920's. many people are using credit to buy new technology. My parent's generation has no pensions because they have all been used up, as health care has become more advanced and so older people are living longer, using up all the pesion money. Seriously just step back and take a look at the facts, this country is going down economically. This may sound daft but China is going up, they are inventing loads of amazing new gadgets and selling them for small prices, because it suits them, but as our economy crashes they will put up the prices, but we will still want the goods causing every one to use more credit, getting in more dept, see this country is floating on invisible money, just like America was. i think China is soon going to become the most powerful country in the world, and when it does so the rest of the world should be scared (sorry to be stereo typical) the chinese have a very low apreciation of life, famillies are only alowed one child, woman are sterilised with out proper anesthesia, its inhumane, and i believe that soon that is going to be waht rules the world. And because Britain's economy will have failed so badly, they will be our "saviours" and slip into our country in the name if "aid" and "help" just like we are doing in Pakistan! and then BAM thier in our country with the upper hand and we owe them!
Matt Smith
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Mibba Blog
February 21st, 2006 at 11:31am
The thing about pensions being 'used up'.

That's only a state pension. Some people are sensible to save up for their own pensions themselves. That way, you get out what you put in. Much better than relying on the government.

Perhaps my history lessons have been a little backwards to date, but I was always under the impression that the Wall Street crash was a stock market collapse that lead to share prices on the NYSE dropping through the floor. Something which lasted for five days but took 25 years to recover.

Now I'm perhaps missing the point here, but what you have said hasn't been related to the point in question.
Nine_Inch_Nails
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February 21st, 2006 at 12:28pm
Plus the Chinese..or they used to, I dunno if they still do...won't give in. I mean, they will fight til they die.

I dunno if that statement really had a lot to do with what you're saying, but I just felt like adding it in anyway Wink
Lucifers Angel
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February 21st, 2006 at 01:43pm
Bloodraine:
The thing about pensions being 'used up'.

That's only a state pension. Some people are sensible to save up for their own pensions themselves. That way, you get out what you put in. Much better than relying on the government.

Perhaps my history lessons have been a little backwards to date, but I was always under the impression that the Wall Street crash was a stock market collapse that lead to share prices on the NYSE dropping through the floor. Something which lasted for five days but took 25 years to recover.

Now I'm perhaps missing the point here, but what you have said hasn't been related to the point in question.


but state pensions are our RIGHT (when we're old enouhg to claim them that is) many people cant save for a private pension what about all tne people who dont have a bank account to pay the monthly payments for the pensions and many people cant get a bank account either?

The point is when we're all old enough to have a state pension we wouldve payed for the state to look after us anyway I.E Tax.
Matt Smith
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Mibba Blog
February 21st, 2006 at 02:04pm
Magne:
but state pensions are our RIGHT (when we're old enouhg to claim them that is) many people cant save for a private pension what about all tne people who dont have a bank account to pay the monthly payments for the pensions and many people cant get a bank account either?

The point is when we're all old enough to have a state pension we wouldve payed for the state to look after us anyway I.E Tax.

Sure, you have a right to them, but you try living off a measly £X per week. I don't know what the exact figure is, but you can sure as hell bet it will be tiny.

99.9% of all adults in the UK will have a bank account, too. If you don't have an account, you won't get given a job, because rarely will companies just hand out cash to people. You need them to have wages paid into, for a start.

State pensions will never totally be used up. That's a myth. No matter how low they go, they will not cease to exist in the near future.

The point I was trying to make is that a person who plans their future carefully will not have to worry as much. Putting aside that little bit of cash per month might save you in the long run.
Lucifers Angel
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February 21st, 2006 at 02:22pm
Bloodraine:
Magne:
but state pensions are our RIGHT (when we're old enouhg to claim them that is) many people cant save for a private pension what about all tne people who dont have a bank account to pay the monthly payments for the pensions and many people cant get a bank account either?

The point is when we're all old enough to have a state pension we wouldve payed for the state to look after us anyway I.E Tax.

Sure, you have a right to them, but you try living off a measly £X per week. I don't know what the exact figure is, but you can sure as hell bet it will be tiny.

99.9% of all adults in the UK will have a bank account, too. If you don't have an account, you won't get given a job, because rarely will companies just hand out cash to people. You need them to have wages paid into, for a start.

State pensions will never totally be used up. That's a myth. No matter how low they go, they will not cease to exist in the near future.

The point I was trying to make is that a person who plans their future carefully will not have to worry as much. Putting aside that little bit of cash per month might save you in the long run.


you can get a job without a bank account. Not everyone canget an account ( i cant) yeah the state pension isnt a lot and we hope that they wiont be used up we never know what will happen until we are at the ahe to claim the pensions.
fender
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February 22nd, 2006 at 10:38am
Bloodraine:
The thing about pensions being 'used up'.

That's only a state pension. Some people are sensible to save up for their own pensions themselves. That way, you get out what you put in. Much better than relying on the government.

Perhaps my history lessons have been a little backwards to date, but I was always under the impression that the Wall Street crash was a stock market collapse that lead to share prices on the NYSE dropping through the floor. Something which lasted for five days but took 25 years to recover.

Now I'm perhaps missing the point here, but what you have said hasn't been related to the point in question.


no, you're right about the wall street crash, it was the stock market falling through, but also it was a nation being plunged into depression, food was hard to come by, millions were redundant, people were homeless because they had bought thier house on credit, on money that didnt really egsist, mining industries went kaput because new fuels had been found (oil, gas) it was so much more than just the stock market collapsing, it had social factors to.
Gilly the Goldfish
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February 22nd, 2006 at 12:13pm
it did in affect there was a serious problem during the early 90s after thatcher etc. Many people lost houses and cars...
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