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Thread: US close to NATIONAL bankruptcy

  1. #46
    Elite Member Rondette's Avatar
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    Swans shot for food - Northants ET

    Swans shot for food






    TARGET - swans on The Embankment in Wellingborough







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    Published Date: 13 March 2007
    By Edward Wrenn
    SWANS are being shot dead in a sickening attack.
    Swans were lured to a river bank with bread, shot with an air rifle and hauled away by poachers in a sickening attack.

    Three men were seen slaughtering the birds from the Embankment on the River Nene in Wellingborough and then dragging them from the water before making off with the carcasses.

    An angling club chairman believes the two birds are likely to have been shot to be eaten.

    Richard Stevenage Jones, chairman of the Northampton Nene Angling Club, said: "There are a lot of people poaching from Northamptonshire's rivers – and they are the scum of the earth. They shoot at birds and lay nets across rivers to catch fish, and then take the carcasses back to eat them.

    "It is mainly a problem with Eastern European migrants who have moved to the country – I've collected their nets and seen them in action before.

    "I have even had a knife pulled on me by one poacher."

    The incident, at about 8pm on Friday, has shocked residents who have added their voice to a police appeal for information about the attack.

    Stephanie Jessop, of Senwick Road, said: "It's absolutely disgusting – it breaks my heart to hear of attacks like this. Whether they were poachers or just mindless idiots, they deserve jail time.

    "Animals are trusting or oblivious to humans and anything that breaks that trust is just inhuman."

    Larissa Ingoldby, director at the Johnston Veterinary Clinic in Wellingborough, said: "It's unbelievable there's people who would commit this shocking slaughter of protected birds.

    "To know there's people carrying air rifles around and shooting them is scary as well."

    Poaching has been a growing problem over the past few years with other reported incidents in the county, although this is the first high-profile incident in this part of Northamptonshire.

    RSPCA spokesman Sophie WIlkinson said: "The incident has been reported to the RSPCA and our inspectors will assist in the investigation.

    "Wild birds are the most common victims of shooting attacks – hundreds suffer pain, injury, distress and death every year."

    People found guilty of such attacks face a maximum six-month prison sentence and a 5,000 fine.



  2. #47
    Elite Member Rondette's Avatar
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    Quote Originally Posted by tee-ha-ha View Post
    House prices needed to drop in the UK, it was getting ridiculous.

    Yep, ITA. We're renters, and as this recession kicks into gear I'm actually glad we didn't rush into an interest only, 100% mortgage. Not that we ever considered it!

    At least with renting we have the freedom to move when we pretty much want, and when the boiler breaks down or something, we can just ring the landlord! I think we are quite lucky with our landlord though, they're very nice people.
    I get the feeling alot of people are realising the old 'dead money' phrase with regards to renting is not so applicable these days!

  3. #48
    Elite Member Mariesoleil's Avatar
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    Poor swans
    "Books are the quietest and most constant of friends; they are the most accessible and wisest of counsellors, and the most patient of teachers."

  4. #49
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    Quote Originally Posted by Rondette View Post
    Yep, ITA. We're renters, and as this recession kicks into gear I'm actually glad we didn't rush into an interest only, 100% mortgage. Not that we ever considered it!

    At least with renting we have the freedom to move when we pretty much want, and when the boiler breaks down or something, we can just ring the landlord! I think we are quite lucky with our landlord though, they're very nice people.
    I get the feeling alot of people are realising the old 'dead money' phrase with regards to renting is not so applicable these days!
    Actually if you time it right you can come out better as a renter than as a homeowner in the short-medium term, though overall it's better to own than to rent because you build equity. I owned property in the UK and sold it at a profit. I rented in France and Germany. It's so cheap to buy/sell property in England in terms of fees and commissions that I felt I'd be there long enough to at least break even. I broke even and then some, but I got lucky in terms of price, location, and timing.

    If you rent for 1-2 years as property prices fall and your landlord doesn't hike your rent, you can make out better. Say like you would have bought a property for 250k in 2006. In 2008 it's worth 210k, a loss of 40k pounds. Say like you bought that 250k property with a 100% mortgage, so you'd have only slightly less than that left on the mortgage 2 years later. If you had to sell, you'd take a bath. You'd lose money on the sale in addition to the mortgage payments you made. If you rented for under 1500 pounds a month, you'd likely come out ahead in a situation like that in that you've paid to live somewhere just like a homeowner, but you haven't had maintenance costs associated with the property and you didn't "lose" when you had to sell. So you're right...renting is not always a bad option.

    The problem there...as here...is that people don't save anything so they usually don't have a down payment, and it's much more difficult to get a mortgage so as property prices drop back into the affordability range for first-time buyers, they may find they can't secure a mortgage due to the credit crunch and/or lack of a down payment. It's a shitty situation on both sides of the pond.

  5. #50
    Elite Member Little Wombat's Avatar
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    Quote Originally Posted by Fluffy View Post
    I tend to blame Alan Greenspan more than Phil Gramm. Greenspan dropped the ball on the Fed regulating and said there was no housing bubble. WRONG!
    Greenspan is an easy target because he is well known. However, the Fed is not and was not in charge of setting up the rules for home mortagages and how they are packaged. For a good article on actual data on the mortage finance crisis, read this article on The Economist: "Chain of fools" Economics focus | Chain of fools | Economist.com

    While a lot of the bubble can be attributed to the the low Fed Funds rates of the early 2000s, remember that those rates were lowered at the time to stave off other potential financial disasters waiting to happen - such as the shaky markets after September 11th.

    As for Greenspan saying "there was no housing bubble," it depends on when you are quoting him. Early 2000s - pre-2005, yes, he may have said it. Post-2005, not likely.
    In the wake of the subprime mortgage and credit crisis in 2007, Greenspan admitted that there was a bubble in the US housing market, warning in 2007 of "large double digit declines" in home values "larger than most people expect."[23] However, Greenspan also noted, I really didn't get it until very late in 2005 and 2006.[24]
    Alan Greenspan - Wikipedia, the free encyclopedia

  6. #51
    Elite Member louiswinthorpe111's Avatar
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    ^^Agreed, but Greenspan did contribute to the problem by raising interest rates sharply and swiftly. For all the people that had ARM's come due, their rates and payments went through the roof, causing the beginning of the foreclosures.

    Now, the Fed has responded too much by cutting rates too far. It's my judgement that the Fed takes rates in too many extremes. They lower rates too much, too fast, and respond by raising rates too much, too fast rather than take a steadier approach.

  7. #52
    Elite Member Fluffy's Avatar
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    Quote Originally Posted by Little Wombat View Post
    While a lot of the bubble can be attributed to the the low Fed Funds rates of the early 2000s, remember that those rates were lowered at the time to stave off other potential financial disasters waiting to happen - such as the shaky markets after September 11th.

    As for Greenspan saying "there was no housing bubble," it depends on when you are quoting him. Early 2000s - pre-2005, yes, he may have said it. Post-2005, not likely. Alan Greenspan - Wikipedia, the free encyclopedia
    It's the low Fed Funds rates that I was thinking of. He kept them too low for too long. Yes, he lowered them to deal with some other things in the early 2000s, but he kept them too low for too long afterward. Essentially, giving banks free money to fund these high-risk mortgages. That was the problem.
    The host of ABC's This Week gushes during the introduction:
    For more on this we are now joined by the man who knows more about these problems than just about anyone else in the country, former chairman of the Federal Reserve, Alan Greenspan.
    In retrospect, we would all be much better off right now if he'd known more about a few "potential" problems five or six years ago, rather than keeping the gas pedal pegged to the floorboard while looking the other way as all sorts of mischief began on Wall Street.

    Looking back, maybe all that energy spent heaping praise on "financial innovation" and the "diversification of risk" - that same "innovation" and "diversification" that now seem to have brought the world just past the point where Wile E. Coyote realizes there is no ground beneath his feet - might have been better spent mustering just a small bit of skepticism.

    The whole country believed there was such a thing as "a free lunch".

    Now it turns out there isn't.

    The former Fed chief once again identified home price stability as the key to financial market stability, an argument that could also have been made back when home prices were going up as fast as they are now going down.

    That is, when everyone was growing rich beyond their wildest dreams without even breaking a sweat, simply because they owned a home.

    Americans turned to their equally-rich neighbors and said, "What a country!"

    Today, they are saying the same thing, but with a decidedly different tone.

    His best guess for home prices leveling off is early-2009, so, anyone thinking about making a home purchase should adjust their buying plans accordingly (i.e., wait until late-2009 at least, since, over the past six years, the former Fed chairman is batting about 0-for-1,000 in his housing market predictions).

    It is truly amazing the amount of hubris that is still in this man given what now lies in his wake. In his own revisionist history, he portrays himself as something of an innocent bystander, helpless to effect change at the time, yet lending a hand as best he can now.

    While not entirely to blame for what is unfolding, he was a very big cog in the machine.

    It is also truly amazing that so many in the media continue to be incapable of connecting some very large, simple dots over the last 25 years.
    The Mess That Greenspan Made: The arsonist analyzes the fire

  8. #53
    Elite Member Little Wombat's Avatar
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    ^ Fluffy, that post simply blaming Greenspan is not evidence of anything he did wrong (or right, for that matter). There is no data or analysis in that post.

  9. #54
    Elite Member Chilly Willy's Avatar
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    Dear America,

    if you ruin the global economy because you like overspending and if on top of that you elect John McCain, our love affair will be over.

    Yours, Chilly.
    Hello mother fucker! when you ask a question read also the answer instead of asking another question on an answer who already contain the answer of your next question!
    -Bugdoll-



  10. #55
    Elite Member effie2's Avatar
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    Dear USA
    my shares are sooooo down my planned trip to Paris is on hold...
    WHY,eh??why.??????????..
    "Effie is all kinds of awesome." - Some internet moderator


  11. #56
    Elite Member sluce's Avatar
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    We got tired of you having too much fun Effie. We had to bring an end to your endless vacation so we decided to bankrupt a lot of people and then foreclose on a lot of house too. It's been so fun and now we want the rest of the world to share in our fun. Now just sit back, eat some swan and relax.

  12. #57
    Elite Member Sweetie's Avatar
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    GREAT avatar, Effie!

    Makes me want to lick the screen.
    Kate Moss, that lucky bitch.

  13. #58
    Elite Member Fluffy's Avatar
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    Quote Originally Posted by Little Wombat View Post
    ^ Fluffy, that post simply blaming Greenspan is not evidence of anything he did wrong (or right, for that matter). There is no data or analysis in that post.
    There may not be any data in it, but there have been plenty of economists calling out Greenspan on his actions while he was in charge of the Fed. Paul Krugman has always been one. Stephen Moore is another.

    I also remember quite clearly an interview last year where Alan Greenspan stated he was not interested in the Fed's regulatory responsibilities on banks.

  14. #59
    Elite Member darksithbunny's Avatar
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    Yeah! Glad I have all my money changed to Euros and buried in jars in the back yard!

  15. #60
    Super Moderator twitchy2.0's Avatar
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    *locates darksith's yard on Google maps*
    "If you are not outraged, then you are not paying attention," Heather Heyer's facebook quote.

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