Shame
[title of show] is one of my favourite musicals, with such memorable numbers as [title of song], and [put something here]!
It is truly a sad day for the Musical loving community.
US financial meltdown hits canine thesps hard
The far-reaching effects of the US financial crisis are starkly demonstrated by the impending ejection onto New York's mean streets of a Chihuahua named Chico - canine star of the theatrical adaptation of Legally Blonde. The show will close on 19 October after its 595th performance, Bloomberg reports. It's one of three to …
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Thursday 25th September 2008 12:16 GMT Anonymous Coward
Hyperinflation
Well the US will suffer a f*** shit load more problems if you let them just pump free money into the banks. Hyperinflation is the biggest risk. The loss of faith in the value of the dollar caused by inflating the amount of dollars at times of deficit.
Keep in mind that the global pool of money is about $70 TRILLION, that it was only $36 TRILLION in 2000, and that the growth only justifies about $50 trillion of that at best. If you estimate only 10% bad debt then we're still talking about a final bill of $2 trillion in bad debt out of that extra 20.
So,
1) The banks involved stuffed these bad debts into offshore Cayman islands special vehicles, Paulson would be buying bad assets from offshore vehicles, how does he know they won't simply convert those to Euros, watch the dollar plummet then buy back deflated dollars to repay the loans. Give banks free money for bad assets and they'll invest it where the money can be made, and that will not be the USA.
2) Won't this just recreate the problem from 2004, where Bush pumped money into the system without any plan for growth that would absorb it, and simply drove up property prices as this 'money' looked for ways to be invested and drove down the $ as the smart investors ran away from it. It's the same thing only on an insane scale.
3) The risk is surely hyperinflation... I notice the ECB and Bank of England coordinated their recent pumping of money into the system. If we didn't, I reckon the dollar would have plummetted. The Japs didn't touch it, they've experienced hyperinflation and are wary of.
3a) Would we take the Euro down with the $ or look after ourselves like the Japs did?
4) What happens when Paulson comes back and needs an extra $2 trillion. What do you do then?
5) What happens when Paulson explains that he can't account for a few hundred billion of this money, what do you do then?
6) What happens when the bailed out banks are doing better than the good banks and now the good banks can't compete. Do you bail them out too?
/uninformed rant
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Friday 26th September 2008 15:49 GMT Anonymous Coward
Wait, what?
They made a theatrical adaptation of 'Legally Blonde', and are blaming its failure to turn a profit on the financial crisis?
Here's a thought: Your show failed to sell tickets because it's a crap adaptation of a crap film.
Paris, 'coz even she would have figured putting that tripe on stage was a bad idea.
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Biting the hand that feeds IT
