About economics: UK banks see surge in bad debts

The level of bad debts written off because defaulting borrowers will never repay them shot up in 2009 to a new record, figures show.

UK banks see surge in bad debts

Mon, 01 Mar 2010 11:24:24 GMT

What’s really sad about this entire economic crisis going on is that the brainiacs in the various economic community throughout the world are so ego driven that they can’t under any circumstances believe that anyone other than themselves what actually know anything about economics. And yet as my economic fact sheet, below this dictation, under item 15, clearly shows, there were three Journal entries I wrote in May of 2009 when I accurately predicted that during the third business quarter of 2009 the American market system would lose $800 trillion of market value. And it did.

Furthermore, my economic fact sheet has in fact been updated so that it is current as of February 2010. And as I’ve already explained, the making system, whether in the United States are in the UK is extremely criminalized. The banks don’t care anymore about doing business honestly. All they care about is getting their money. And so consequently, the reason you’re looking at bad debts is because these banks have been so greedy for getting money that they really didn’t care about trying to do business honestly. All they wanted to do was get the money. And now what’s happening is, after they behaved rather stupidly. As far as economics is concerned, it’s catching up to them.

As I’ve repeatedly explained a number of times, the corporate sector oath in the United States and around the world is extremely guilty of tremendous corruption and inflationary spending practices within their companies. When you look at the various economies in any of the nation should don’t see a lot of inflation, what you do see is inflationary spending practices within the public sector meaning the government of these nations and especially in the private sector meaning the banking system and insurance companies and things of that nature. The inflationary spending practices still go to the exact same thing that they have always gone to which is high end compensation for the upper-level management and executive positions. And as a result of these inflationary spending practices pursuant to the high-end compensation packages for these upper-level management and executive personnel. The bottom line is a rather severe, economic, and/or financial, disparity within these companies pursuant to their hourly and lower level management personnel enter to their high-end compensation practices of their upper-level management and executive positions.

As long as this irresponsible financial practices going on and as long as the governments not only in the UK around the world are refusing to deal with these extremely criminalized and corrupt financial practices on the part of the corporate sector and the banks that no recovery will take place. But the result will in fact be severe, because the Kondratieff wave is very clear about mapping these things out and shows very clearly that the greediness and the avarice. That is taking place as a result of these upper-level management and executive people throughout the corporate sector does not stop than what will happen is the entire economic system will fail because it is that frail at this time. It is that fragile. And of course when the economic system does simply capitulate them the upper-level management and the wealthy and the executives won’t have economic system to be able to steal from any longer. Because they will have destroyed the economic system. Then there just be stupid. And the money they have will basically be worthless. So they will simply cheated themselves by being so stupid and greedy.

Of course, I don’t expect anyone to believe me, because I’ve only been doing financial analysis for 42 years. So why would you ever believe someone who had that much experience?

Economic Fact Sheet (Current as of Jan. 2010)

1. The United States currently has a national debt in excess of $12 trillion.

2. The interest on the national debt is now in excess of $11 trillion.

3. The operating budget for the United States government is now in excess of $43 trillion.

4. The members of the United States Congress stole $200 million from the Medicare fund, which was going to go for cost-of-living increases to Medicare recipients, so that the members of Congress could have their paper medical records converted to computerized medical records. The attitude by the members of Congress was that they didn’t care if they murdered American citizens as long as they get the medical protection they wanted.

5. The Christian conservatives and the Republican Party are taking the stand that they do not want American citizens to have any kind of healthcare the of healthcare is extended to anyone that the Christian conservatives or the Republican Party does not like. And this is based not on constitutional law or the Christian conservatives and the Republican Party being patriots. It’s based upon the Christian conservatives Republican Party demanding that the American government understand that no Christian conservative or Republican Party member will in any way ever support the US Constitution above their Christian religion and above their Christian Bible. And so as a result, their Christian Bible and Christian religion says that healthcare should not go to Hispanic Americans or black Americans or Jews or Muslims or gay Americans or Native Americans or anyone who is an immigrant that the Christian conservatives Republican Party just doesn’t happen to like.

And so as a result, the Christian conservatives Republican Party members are trying to commit mass murder in United States by denying health care to millions of American citizens who are in desperate need of medical attention. But the Christian conservatives Republican Party doesn’t really care about that because as far as they’re concerned if they have to walk through rivers of blood to make sure that their Christian religion and their Christian faith is supported more than the Constitution of these United States and the Christian conservatives will do just that.

6. The current level of unemployment in the United States is now over 10%.

7. The current cost for liquidating the national debt is now in excess of $39,000 per person, which means that every man woman and child in the United States would have to pay at least $39,000 to be able to liquidate the national debt.

8. When you look at the history of United States from the American Civil War until present day you find that the Republican Party and Christian conservatives were in total and complete control of the United States government every single time there was a financial crisis from the American Civil War to present day. And that basically means that all the policy decisions that were being made by the American government during these times when these financial catastrophes were taking place were being made strictly by Christian conservatives and the Republican Party . And of course that’s all public record. And if the Christian conservatives or the Republican party say that these financial catastrophes were not their fault, That would mean that all the public statements that the Christian conservatives and the Republican party, were making during the times when all these financial disasters were taking place, to the news media and the general public were lies. On the other hand if they say that they were not lying then, that means that they are lying now. But either way you look at, the Christian conservatives and the Republican party are being found out for the liars that they have always been, and that they still are today.

9. As my financial analysis of the global economic system , in my see also section below, clearly shows, it was the Republican Party and the Christian conservatives under President Bush who gave the American banking industry $400 billion of taxpayer money and simply told the banking industry to use the money anyway they wanted to. And the banking industry did just that they use the money to pay for expensive gifts and presents and take vacations.

10. To date, the banking industry has only paid back $30 billion out of the over $500 billion that was given to them by the American taxpayers.

11. The issues of profitability indexing, pursuant to profit margins and per unit costs and customer bases as they relate to compensation packages throughout the entire corporate sector have not been resolved. That basically means that most businesses are being held hostage by upper level management and executive employees in their own companies who are demanding more and more for their compensation packages. As a result of this most companies are having to readjust their per unit costs for their goods and services in such a way so that what they are doing is pricing their services and their products. So that mostly the upper class and the wealthy will be able to afford them. And this is being done so these companies and corporations can get as much money into their company as possible.

But they are in fact forgetting one of the major factors which is that while most of the money that any company gets comes from the wealthy are customers most of their day-to-day cash flow actually comes from the middle and lower income customers. This is true regardless of where that company exists. So as a result of this most of the companies in the corporate sector are operating on what is known as a cash poor basis. And this basically means that since they are pricing their goods and services in order to get the most money possible they are foregoing pricing their goods and services so they will be more affordable to the middle and lower income customers, which actually provide these companies with their day-to-day cash flow. And so as a result, these companies don’t have enough money to pay for employees or many of the other day-to-day costs that come up.

This factor has not been dealt with in any country in the world at this time. Furthermore, these companies are refusing to be honest about their financial reporting. They are constantly using and accounting,/statistical variance, which is .5%. And .5% variance is such a large variance pursuant to statistical and financial analysis that you can basically drive a moving van through the space. That is allocated for plus or minus error correction in the statistical analyses and financial analyses that are in fact done with .5% variance. This is why I have never used that level of variance statistically or financially. I’ve always used .05% variance because it is such a small variance that the statistical analysis of the profitability analysis cannot be falsified. It is true that using .05% variance does require an additional 100,000 to 200,000 calculations in order to be able to complete the analysis. But when you consider that the final product is incredibly more honest and reliable. It’s worth it.

12. The banking industry has turned cruel. For example here in Cleveland Ohio Keycorp is taking a lot of pride and threatening senior citizens and kicking them out of their homes so that they can foreclose on the property. This is happening all over Cleveland Ohio and KeyCorp actually is one of the most hated banks in the entire state of Ohio. But KeyCorp is not the only one who’s doing this practice. Because was really happening is that banks all over the United States are basically threatening senior citizens with foreclosure to the point where suicides are now escalating and accelerating at an alarming rate. So badly that the medical community is swamped by the number of suicide calls they are getting. And this is all happening because KeyCorp and other banks like KeyCorp are basically taking the attitude that they don’t care how many men and women and children they have to murder. They just want their money.

When you consider these kinds of factors are going on in the banking industry you realized that the other thing that’s happening is that senior citizens and homeowners are becoming incredibly sick. Do becoming physically ill as a result of the horrible attitude that KeyCorp in other banks like KeyCorp are pushing on the citizens. And there is no help for this at all.

13. Additionally, the medical community is helping with this because we have a hospital here in Cleveland Ohio called MetroHealth that basically is working hard. Just like KeyCorp to threaten senior citizens and have them thrown out of their homes. So that they can foreclose on the property. And basically kill the individuals. I have been personally threatened by KeyBank and MetroHealth and have recorded conversations proving that.

So MetroHealth does all these commercials where they’re talking about how good a hospital they are and yet they have been sued a number of times for Medicare fraud. They have also been sued by their own employees for unfair business practices. And they have lost doctors so badly because they don’t treat their doctors very well either. Nobody likes MetroHealth.

And for the record, it needs to be understood that my grandfather’s brother, Dr. ally Maschke, was the director of medicine at mount Sinai medical center here in Cleveland Ohio until his death. And my cousin, Dr. Victor Vertese, was also the director of medicine at mount Sinai medical center until his death. Additionally, my grandfather, Maurice Maschke, and his business partner, Mark Hanna, who founded the Hana mining company, which became the 3M company, basically built mount Sinai medical center in Cleveland. And in addition to that, my father, Maurice Maschke Junior, was on the Board of Trustees at Case Western Reserve University, University hospitals of Cleveland, Cleveland clinic, and mount Sinai medical center until his death. And in addition to that, my father, Maurice Maschke Junior, and I., were partners and co-owners of pioneer linen supply company of Cleveland Ohio for 25 years until 1975 when we sold the company.

14. So given all of the foregoing as actual facts. The only reason that the accelerated growth has taken place is because certain industries in the United States have in fact been making money. Only because their industries are addressing sections of the population who are otherwise disenfranchised by most of the business sector. For example Tyco International is a business that specializes and fire prevention and warning systems and security systems. And of course they’ve done a really good job because people are scared to death and living in their homes and there are so many foreclosures going on that people are having to protect their homes because in most cities the number of police has dropped so badly because most cities are in a huge budget crisis. In Cleveland, Ohio, for example, the city went from 1,500,000 people down to approximately 400,000 people in only a matter of months. And conditions are so bad in Cleveland that Cleveland is now charging nine dollars a month just pick up our garbage.

15. Furthermore, as I predicted on May 21, 2009, the American market system had already lost approximately $500 trillion of market value. And, in my journal entry (see my LiveJournal entry of May 21 2009). Then on May 22, 2009, I accurately predicted that the American market system would lose approximately $800 trillion of market value. (see LiveJournal entries of May 22, 2009, entry #1, entry #2, and entry #3, ). And the market did lose that much money. So, I was right. As I have always said. In 42 years of being a financial analyst, I have never been wrong on any financial projection I have ever done. Just like I was not wrong in 2009, with the above projections, I am, by the like term, not wrong now.

So again, it’s really easy for people to talk about how well the market is doing that the foregoing represents the actual facts of what’s going on in business.

And as I said before, I have been studying the stock market since I was six years old. At age 6 I started studied the stock market at Prescott ball and turban here in Cleveland Ohio. With one of the partner broker’s, Bernie Towell, who was a personal friend of mine. And so every day for four hours every day and age 6 until age 16 I studied the stock market and learned economics and financial analysis . At age 16, while working and being a partner and co-owner of pioneer linen spy company in Cleveland, I did my first financial analysis and profitability analysis . It was done on the linen supply company’s of Cleveland Ohio. The analysis was so good that the results were used to program some computers at the time. And in 42 years and having been a financial analyst I’ve never once been wrong in any financial projection I’ve ever done. Not once. Just like I’m not wrong now.

In my financial analysis of the global economic system in my see also section below, I clearly show that the American market system was going to lose $800 trillion of market value in the third business quarter of 2009. I further substantiated this claim last January in January of 2009. When I explained that the American market system was going to take a huge hit in the third quarter and that it would come out to about $800 trillion of market loss. And that this was in fact in line with the Kondratieff wave . And in fact that’s exactly what did happen. Which means the analysts were wrong. And I was right.

Now, it’s important to remember that anyone can say anything about the market that they want. But being able to back up what they say takes an expert. And someone who understands the science of financial analysis. And that’s something I have been doing for 42 years.

Therefore, if you go ahead and look at all these factors without looking at all of the peripheral details than you are going to be responding to the information in a very symptomatic, or symptomatically oriented manner whereby you will behave to the information in an extremely reactionary way. By the like term, if you look at all of the information regarding economics throughout the entire global economic system in a problematically oriented manner you will be looking at the financial information in a more anticipatory manner. And much more pervasive rather than in a stereotypical or linear manner. And as a result, you will begin to understand that all of these different factors that I have brought forth in this article right now. Actually do justify what I’m saying that the American market system is on the verge of collapse. And that the economic system for Greece is about to go under. And that unemployment in Spain and France and England is running at almost 30%.

These do not make things look like they’re going good in the United States is basically doing nothing but lying about the economic they I went to school with most of the people who run a lot of these companies in the United States and who are working on Wall Street either went to school with them at Case Western Reserve why went to school with them at Fort Lewis college board went to school with them at southern Arizona school in Tucson Arizona. Or, I did business with them throughout my life.

So again, this is a reality check. And all I can say is, if you don’t believe what I’m saying that’s not a problem. Because you haven’t believe me, for 40 years, what I’ve been talking about all of these issues facing the economic system in the United States and the global economic system. So why would you believe me now?

But the fact is that just because you may not believe what I’m saying doesn’t mean that what I’m saying is not true. Simply means you are refusing or are not able to see the veracity in what I’m saying and that’s all it means.

About economics

Monday, March 1, 2010

UK banks see surge in bad debts

No comments:

Post a Comment

Blog Archive