How does financial crisis affect you?

Discussion in 'The Intelligence Cell' started by KGB_resident, Oct 1, 2008.

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  1. Our friend Msr (on another thread) asked to comment this artice

    http://www.telegraph.co.uk/opinion/main.jhtml?xml=/opinion/2008/10/01/do0105.xml

    Unfortunately, the thread was holed. So I try to repeat my answer (before this thread is holed - joke)

    Never have been is this 'club' - likely a nest of criminals, thives and expensive prostitutes.

    Tycoons lost big money? Who cares?

    By the way, mr.Lebedev tries to create a new political party along with former pres.Gorbachev. Interesting pair - a thief and an idiot.

    They are small, insignificant investment banks. I keep my modest savings in different reliable banks (with 11% - 12.5% interest rate). Sums below $8000 would be 100% compensated and additionally $20000 would be 90% compensated in the case of bankrupcy.

    From formal point of view 11-12% inflation is 2-digit. But now the Rouble is stable against Euro & Dollar basket.

    St.Petersburg is being affected by frequent floods (though not so severe as in New Orleans). Emergency situation was simulated to test all services and systems involved.

    One of the leaders of still-born political party is too well known thief to be regarded seriously.
     
  2. WTF has that got to do with the thread title? Been on the vodka?
     
  3. In answer to your question..................................so far it hasn't, touch wood
     
  4. Interesting. You do know it's a Global crisis and not just US/UK don't you?
    But you may have been right about the Voddie.
     
  5. I have to admitt that sometimes indeed I drink but not now.

    In short, personally I don't feel any influence of global financial crisis and you?
     
  6. Thanks. And I knock wood.
     
  7. Are you sure? We're all friends here so don't be afraid.

    As for me, no. Mortagage has gone up £20. Big deal.
     
  8. So long as food prices don't go up too much, Familie von Carrots will be fine. We live in a flat I bought from my sister in the early 90s and a fair whack of the mortgage is already paid; we're on the second floor, so get heat rising from below and a nice buffer above to keep our fuel bills down; and we're both fanatically economical about food and groceries (i.e. tight as a gnat's chuff). Unless our savings get wiped out there's no reason to suggest we won't weather this well. If our savings do get wiped, everyone else's likely to be further up shit creek than we'll be since we've never been ones to take unnecessary gambles with our future and they're mostly in NS&I or National Central Banks. Shitty return by comparison, but at least I know it'll still be there when I need it.
     
  9. I could lose my job! Not a good time to be working in the financial sector.
     
  10. Of course I tried to type admit

    The crisis is global and I fear it is only its start. What could follow? Very low oil (and gas) prices, low prices on metals and wood that would affect ordinary Russians.
     
  11. To answer your question first of all - me personally not at all. I work abroad, get paid well and don't pay tax on that. My UK business gets taxed as does my Military pension but I can live with that as one does not rely on the Stock Markets or Banks and the other is paid for by HMG.

    My other point though is - those interest rates you quote cannot possibly be sustainable. Where is the money coming from to finance them? The answer is, I suspect, the State. In which case there are going to be a lot more "perceived external threats" to keep the rabbles' mind off how sh1t life is about to become.

    As an individual can I put in cash to this nice little earner ? 8) Although I conced that collecting it via a logging camp in the Kolyma Mountains when it comes to withdrawing the loot my be a bit of a deterrence.
     
  12. Not so far for me either. I'm 1 year into a 3-year fixed rate mortgage, which is a bit less than 50% of the current value of my house, so unless things really go t1ts up, I shouldn't have too much trouble finding another deal when the time comes.

    Got no credit cards or loans, and I'm fairly substantially in credit with my gas & electric (monthly DDs).

    Food's getting a bit expensive, so I'm currently sorting out an allotment (fed up with the chemical-laden cr@p from the supermarkets, anyway). And there are plenty of rabbits in the fields nearby.

    On the downside, I've got absolutely nothing in the way of savings, so no cushion for if things do get bad.
     
  13. No, relatively high interest rates (11-12%) for 1 year deposits are being proposed by commercial private banks.

    There is unique situation in Russia. The Rouble is very stable toward Dollar, Euro, Pound and meanwhile interest rates on deposits are high enough. It is because of huge wave of consumerism. The Russians borrow money in banks to buy literally everything. Now Russia becomes the biggest car market in Europe. Btw, this month I buy a new car (though inexpensive - $22000) and give my 2-yo one to my son.
     
  14. [/quote]

    No, relatively high interest rates (11-12%) for 1 year deposits are being proposed by commercial private banks.

    There is unique situation in Russia. The Rouble is very stable toward Dollar, Euro, Pound and meanwhile interest rates on deposits are high enough. It is because of huge wave of consumerism. The Russians borrow money in banks to buy literally everything. Now Russia becomes the biggest car market in Europe. Btw, this month I buy a new car (though inexpensive - $22000) and give my 2-yo one to my son.[/quote]
    I wouldn't brag about borrowing money. That's the reason why the western banks are in the state they are in. If the Russians are borrowing heavily to pay for everything then they may find the credit crunch comes to visit in a much more catastrophic way than it has in the west.
     
  15. No, relatively high interest rates (11-12%) for 1 year deposits are being proposed by commercial private banks.

    There is unique situation in Russia. The Rouble is very stable toward Dollar, Euro, Pound and meanwhile interest rates on deposits are high enough. It is because of huge wave of consumerism. The Russians borrow money in banks to buy literally everything. Now Russia becomes the biggest car market in Europe. Btw, this month I buy a new car (though inexpensive - $22000) and give my 2-yo one to my son.[/quote]
    I wouldn't brag about borrowing money. That's the reason why the western banks are in the state they are in. If the Russians are borrowing heavily to pay for everything then they may find the credit crunch comes to visit in a much more catastrophic way than it has in the west.[/quote]

    And there's the rub! The money has to be coming from somewhere and when is all goes t1ts up the Bank Rossiya will have to print more cash or provide Credits to support the private Banks. Where have you heard that story before? :(