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[Leslie <cayadopi AT yahoo.com>]

Ohhhhhhh, pooooor Citibank..... 'cuz they just took a big chunk of the 
bailout money they just got and invested it into toll roads in 
spain............... 
 
Just another taxpayer funded investment we can kiss away.....  Do they do 
this stuff on purpose???

 
 


--- On Mon, 12/8/08, bob ford <bobford79 AT yahoo.com> wrote:

From: bob ford <bobford79 AT yahoo.com>
Subject: [Homestead] Record worldwide business bankruptcies
To: homestead AT lists.ibiblio.org
Date: Monday, December 8, 2008, 10:42 PM

Company crashes set to hit record next year

By Richard Milne and Anousha Sakoui in London

Sunday Dec 7 2008 13:20

Record numbers of companies will go bankrupt next year with 200,000
insolvencies in Europe alone and "an explosion" of failed businesses
in the US, according to the world's largest credit insurer.

The US will see 62,000 companies go bust next year, compared with 42,000 this
year and 28,000 last year, says a report by Euler Hermes, part of German 
insurer
Allianz. 

The absolute numbers, however, pale in comparison with the figures from 
western
Europe, where the larger number of small companies mean insolvencies are
expected to rise by a third from 149,000 last year to 197,000 next.


"The financial crisis will increase the risk of bankruptcy dramatically,
particularly next year," said Romeo Grill, chief economist at Euler Hermes.
"There will be an explosion in the US but also big rises in Europe and
especially the UK."

Mr Grill said he expected most company failures in Europe to be focused around
the struggling car, retail and textile sectors as well as logistics.

The country with the highest number of insolvencies expected for next year is
France with 63,000. But in Europe, Spain, Ireland and the UK are forecast to 
see
the most dramatic rises. 

Nearly four times as many Spanish companies will go bust next year as in 2007
while it will be nearly double in Ireland and the UK with 640 and 38,000
businesses respectively.

Japan, the only Asian country in the survey, will also be hit with the number
of bankruptcies rising from 14,000 last year to 17,000 next. All countries
except Japan will see more insolvencies than in the previous downturn of
2001-02.

The Euler Hermes report comes after Moody's, the ratings agency, forecast
last month that defaults among companies with junk ratings below investment
grade will rise from last year's 1 per cent to 10 per cent next year. But
the Euler Hermes survey is more comprehensive as relatively few companies have
any kind of credit rating. 

Companies around the world have complained about getting credit. The volume of
new loans arranged for companies globally has fallen off a cliff this year and
deteriorated even faster during the past two months. Syndicated lending to
investment-grade and junk-rated borrowers has roughly halved in both Europe 
and
the US compared with last year but remained stable in Asia, according to data
providers Dealogic. 

One difference in this downturn is that larger companies appear to be 
suffering
as much as their smaller counterparts. 

http://us.ft.com/ftgateway/superpage.ft?news_id=fto120720081330056529






      
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>From bobford79 AT yahoo.com  Mon Dec  8 23:00:23 2008
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Answers within, marked by asteriks
--------------------------------------------------------------------

--- On Mon, 12/8/08, Leslie <cayadopi AT yahoo.com> wrote:

>
>  
> It's a lot cooler here than in your area (Phoenix?)  I
> only used my A/C 10 days over the summer (when it got over
> 100), and used a portable swamp cooler for about 10 days. 
> I've been heating up to 41-45, and just put a sweatshirt
> on.  I'm doing this on purpose to make sure that
> survival is possible without heat or very little heat.  My
> fuel consumption is low - from March 08 - Dec any day now,
> I've only used one tall RV sized bottle of LP for my
> cooking/heating needs.  Same with my electric, very low
> use.  There are solar powered fridge/freezers
> available, pricey, but not a bad idea.  Solar water heat
> is no problem here... LOL, until the winter.    



******  The above sounds like you are preparing in a smart way.  If you can 
live without the pricier appliances, the rule is 'the simpler, the better'
  


>  
> Hey, did you read the blip on Argentina basically seizing
> pension plans a few weeks back (equivalent of IRA, 401(k),
> etc).... I had read years ago that governments would resort
> to that citing "in the national interest" type
> stuff.



******* Yes I did.  And, at one time Argentina was considered a great 
success.  I have followed the travails, on the internet , of a man who lived 
through their first collapse.  He has written about the crime, the gov't 
oppression; because of his experiences, and the fact that a cache of gold 
helped him to survive and to get out of the country and have the means to 
start a new life, makes him sort of a gold bug
 




> I even talked to a few other people I know from all over
> the country to see if they were interested in moving to an
> area together and working together.  No takers, yet....so
> it is going to be tough alone.    Some people I talk to
> don't even consider that there could be food shortages,
> etc. just over the horizon.  



******  You are alone ?; I thought you had moved there with family or it was 
family land.  Sometimes it is difficult for me to keep up with and remeber 
people's backgrounds and situations.  There are many strong women on this 
list who may be able to advise you.  As far as the "community" idea, give it 
more time,  If that is what you want, other people have done it successfully.





----------------------------------------------------------------------

> 
> 
> --- On Mon, 12/8/08, bob ford <bobford79 AT yahoo.com>
> wrote:
> 
> From: bob ford <bobford79 AT yahoo.com>
> Subject: Re: [Homestead] Go ld -- feel free to ignore
> To: cayadopi AT yahoo.com, homestead AT lists.ibiblio.org
> Date: Monday, December 8, 2008, 10:01 PM
> 
> --- On Mon, 12/8/08, Leslie <cayadopi AT yahoo.com>
> wrote:
> 
> 
>  > Monied citizens have already been leaving, for the
> past year or so, have
> been getting their $ out of the country. One big money
> manager for an extremely
> wealthy European, who had been in US for years, moved
> operation to Dubai last
> summer.  They were going to go to UK and changed
> > mid-stream.
> 
> 
> Events are occuring and changing so quickly , it is like a
> whipsaw to plan.  I
> have an acquaintance who months ago was talking of
> relocating to Spain for
> several years.  Events in Europe changed his mind, but the
> subsequent fall in
> the Euro , again, changed his plans to a definite move to
> Europe.  He just
> returned from a visit; I'm going to see him maybe this
> weekend.  I have no
> intentions of leaving this country.  I already wanted to
> homestead in an
> isolated rural area of the U.S., before this calamity. 
> But, I am curious to the
> different ways that people intend to ride out these
> events..............................................................
> 
> -------------------------------------------------------------------------
> 
> 
> 
> 
> 
> 
> 
>       
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