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Reply With QuoteWe live in a Global economy now, so nobody is immune to the Credit crunch. I am just surprised that the banks that sold those Ninja loans and securities are not in jail for fraud.Originally Posted by Snow
Yes
No
Don't know
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What do you think? Does the Credit Crunch has an influence on Finland e.g. higher unemployment or decrease of house prices?
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We live in a Global economy now, so nobody is immune to the Credit crunch. I am just surprised that the banks that sold those Ninja loans and securities are not in jail for fraud.
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at the end the tax payer has to pay anyway
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Not really that to sure, i hope not.
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We saw the failure of communism, so now with this subprime crisis we have also seen the failure of capitalism too.
I say failure because some Governments had to step in to assist the market. Until now the market was the ultimate decision maker.
If the market could decide then those banks would have closed down. Obviously the world economy would have collapsed so;
The Markets and Capitalism with it have failed.
Last edited by drummerac; 1st-October-2008 at 12:28 AM. Reason: typo
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I personnally think it will affect everyone.
today I spoke with my friend Wellu from Tampere on the phone.. he was also saying that the whole crisis was also starting to appear in Finland.. it should be a matter of time before it blows up. :/
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I just hope we dont get as bad as iceland have become, they say they are close to goin bankrupt!
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Today I read in Helsingin Sanomat that Stora Enso expects that the Credit Crunch may soon affect the real economy.
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Whats the things is in Finland right now? (about economy)?
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Well said. Capitalisms global failure has been unveiled. Just goes to show there is not one perfect form of governance or fiscal policy. Communism worked great in Chile before the Americans ruined their economy for choosing an 'un-democratic' style of rule and the watered down versions of it seem to be doing well in China and increasingly Cuba. 'Fears' of socialist policies seeping into the American system are unfounded imo, what's wrong with adopting the plus points of different styes of governance? Hell, even a dictator - if they're a good one - can be good!
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