Re: Massive strikes all across India...collapse ahead?

On Aug 21, 10:44 am, inva...@invalid.com (straydog) wrote:
> Especially for "indiaBPOking"....
>
> WSJ, Thurs, Aug 21, 2008, page A6:
>
> title: "Slew of Unions Stage Strikes Across india"
>
> "New Delhi--A nationwide strike by government workers and bank
> employees protesting rising prices and potential privatizations
> disrupted airports, train and banks across India"
>
> Says the one day strike involved 48 unions and 10 million govt
> workers.
>
> Says, India's economy has lost steam and inflation is at 13 year high.
>
> So, guess what effect that is going to have on any outside companies
> thinking about moving business to India?
>
> "indiaBPOking", you are going to become "indiaKINGcockroach"
>
> In the USA, gas prices are still going down. Near me, mostly at
> $3.50-3.60/gallon and has been on a solid drop for weeks, and the USD
> is up, too.
>
> US exports are still going up, and Iran is buying US wheat, too, for
> the first time, on the open market.

hey straydog you remember my prediction that something big is going to
rattle the american economy....well you're already seeing it happening
in front of yor eyes....and i can see you pissing in your
pants..because you're a complete moron!  Here is some more good news
for you:

http://news.bbc.co.uk/2/hi/business/7569903.stm

US bank 'to fail within months'

The global financial crisis is set to get worse, with a large US bank
likely to collapse in the next few months, a former IMF chief
economist has warned.

Kenneth Rogoff's comments came as shares in Fannie Mae and Freddie Mac
sank on a report that the home lenders would, in effect, be
nationalised.

Despite hopes that the US economy had turned the corner, Mr Rogoff
claimed it was "not out of the woods".

"I would even go further to say 'the worst is to come'," he said.

"We're not just going to see mid-sized banks go under in the next few
months," said Mr Rogoff, who held the IMF role between 2001 and 2004.

"We're going to see a whopper, we're going to see a big one, one of
the big investment banks or big banks."


We have to see more consolidation in the financial sector before this
is over
Kenneth Rogoff

Speaking at a conference in Singapore, Mr Rogoff, now an economics
professor at Harvard, forecast that Fannie Mae and Freddie Mac would
"probably" not exist in their present form in a few years.

"We have to see more consolidation in the financial sector before this
is over."

On Monday, shares of Fannie Mae fell more than 22%, or $1.76, to close
at $6.15. Shares of Freddie Mac fell almost 25%, or $1.46, to $4.39.

'Wrong move'

Shares in Freddie and Fannie first fell sharply last month on fears
that they would run out of money to fund their business, forcing the
US government to take radical steps to ease the panic.

The two firms are the backbone of the US mortgage market as almost all
US lenders rely on them to buy their mortgages in order to access the
funds to lend to consumers.

As mortgage guarantors, they must pay out when homeowners default on
their loans.

With the housing market across the US crumbling, their finances have
come under severe stress.

Problems in the US housing sector prompted the Federal Reserve to
slash interest rates to 2% earlier this year.

But Mr Rogoff said the Fed was wrong to cut interest rates as
"dramatically" as it did.

"Cutting interest rates is going to lead to a lot of inflation in the
next few years in the United States," he added.
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