According to a recent article in The Atlantic, a serious banking crisis could be on the horizon. The article refers to US banks only, but of course it was in the US that the last financial crisis started.

www.theatlantic.com/magazine/archive/202...nks-collapse/612247/

Author: en.wikipedia.org/wiki/Frank_Partnoy

Discussion with author: www.wbur.org/onpoint/2020/07/09/coronavi...y-big-banks-pandemic

Today's news about Europe's biggest bank, HSBC: www.bbc.com/news/business-53633550

If a bank collapses in the UK each customer is entitled, theoretically, to receive up to 85,000 pounds of their savings per separately owned institution (so if a customer has savings with bank A and bank B but both are owned by institution C, the customer only gets 85,000 of their savings held with bank A and B combined). Any savings above that are forfeited under the "bail-in" rules adopted after the 2008 financial crisis.

All could be avoided if there was no lockdown and curfews.

Green Man wrote:
All could be avoided if there was no lockdown and curfews.

Yep.

The real disaster has not arrived yet GM.

No doubt when it does the Politicians will blame Covid, and like so many conflate the virus with the man-made reaction.

Economic problems - current and future - are essentially due to countries having to borrow to fund their outgoings.

Thus increasing their National Debts - instead of paying as they go.

US debt; $26t and UK; £2.5t. Totally unsustainable - never to be repaid.

Recent increases - due to recession and pandemic. Also defence in the US.

wyot wrote:
Green Man wrote:
All could be avoided if there was no lockdown and curfews.

Yep.

The real disaster has not arrived yet GM.

No doubt when it does the Politicians will blame Covid, and like so many conflate the virus with the man-made reaction.

They will blame the plebs for being poor also. I know people who can't be bothered going out shopping because of face coverings. Some shops are humid and face coverings make it worse.

This government and their experts are fucking clueless in the real world.

Why not masks optional or is it about control Mr Blow Job Johnson ?!

More on the dole !

www.swindonadvertiser.co.uk/news/1862453...n---1-700-jobs-risk/

Great move government - all could of been avoided.

Barney wrote:
Also defence in the US


DefenSe actually - for a country that's no fan of NATO, or the UN.

Astronomical budget for a country that's stopped being the world police.


Israel is supplied with weapons/jets - virtually gratis, for political reasons.


We pay the going rate - added to our National Debt - for the US aircraft/ships the US has available to sell...

Yes, our debt was never rising as fast.


www.nationaldebtclock.co.uk


Just like the USA - it now exceeds our GDP.