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Subject: Lloyds headed for nationalization- UK headed to bankruptcy??
Necromancer    2/15/2009 5:03:25 PM
Would anyone update me on thefinancial scene in UK, I am getting snippets suggesting the UK is about to go kaput. Pretty serious concerns of full bankruptcy like Icelan, my family went on its usual vacation to Maldives- a big Brit/German/Swede tourist haunt for the reasonably rich and better noble, there were virtually no Brits this year.
 
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Padfoot       2/15/2009 8:23:44 PM

Would anyone update me on thefinancial scene in UK, I am getting snippets suggesting the UK is about to go kaput. Pretty serious concerns of full bankruptcy like Icelan, my family went on its usual vacation to Maldives- a big Brit/German/Swede tourist haunt for the reasonably rich and better noble, there were virtually no Brits this year.
ht*p://business.timesonline.co.uk/tol/business/columnists/article5563166.ece
 
Nah. Wouldn't have thought so. There are economies that will do far worse than Britain during this economic turmoil. Just look at the economic figures in the December quarter from Europe, Germany's economy contracted 2.5%, Italy 1.8%, France 1.5%. Spain is heading for 20% unemployment. Ireland is in all sorts of trouble; indeed if anyone might go bankrupt it will be Ireland or Spain, possibly both. 
 
Furthermore, just the other day I was reading the US department of Treasury figures concerning foreign holders of US T-bonds in Nov 2008, it has Britain as the 3rd largest holder [behind China and Japan] of US foreign debt with $360 billion in bonds. They've done very well with the falling pound of course. Make of that what you will.  
 
ht*p://www.ustreas.gov/tic/mfh.txt
 
On the other hand, you never can tell.
 
 
 
 
 
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Nanheyangrouchuan       2/16/2009 12:39:02 AM
The world is betting the farm to keep things the way they are instead of letting the natural market system with an unpredictable future that would see powerful individuals and companies fall.
 
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