World central banks act to prevent fresh credit crunch
Some of the world's biggest central banks have announced a programme of co-ordinated action designed to support the global financial system.
Essentially the banker's dodgy practices have lead them up the proverbial creek, and (western) world governments are intervening to rescue them. Again. Welcome to the year 2008.
What ever happened to capitalism? It's socialised banking.
Governments seem to be doggedly convinced that the only path to economic success is to lend more to all those who have already completely max'ed out their credit lines. "all they need is some more cheap credit...and all our problems will magically disappear". You simply couldn't make it up. They've learned nothing whatsoever from 2008, or even the 1930's.
It's no wonder we're facing economic ruin.
Some of the world's biggest central banks have announced a programme of co-ordinated action designed to support the global financial system.
Essentially the banker's dodgy practices have lead them up the proverbial creek, and (western) world governments are intervening to rescue them. Again. Welcome to the year 2008.
What ever happened to capitalism? It's socialised banking.
Governments seem to be doggedly convinced that the only path to economic success is to lend more to all those who have already completely max'ed out their credit lines. "all they need is some more cheap credit...and all our problems will magically disappear". You simply couldn't make it up. They've learned nothing whatsoever from 2008, or even the 1930's.
It's no wonder we're facing economic ruin.