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House Price Crash Forum


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Everything posted by _w_

  1. I stopped reading at the second sentence but should have read the rest. The point above is where you make your mistake. In a 'business as usual' condition you are correct. That is not what happens in depressions. In depressions a lot of people suddenly find themselves surplus to requirements, too suddenly to be in a position to adapt. The service economy that so many people depend on shrinks suddenly and considerably. In those situations the young mother of two who normally works in a nail salon finds herself with no means of sustenance. The husband who works as a garden designer / tutor / graphics designer / pick-any-non-unionised-service-job can find no job. The state resorts to printing money because taxes cannot cover the desired expenditure but price rises only make matters worse. I am not moralising about prostitution. But I find it shocking that some people would try to dismiss what is a tragedy in times of economic depression as sound 'free market economics'.
  2. Now you're the one jumping to conclusions and twisting things. When have I ever said that? Completely besides the point.
  3. Lazy thinking. I read history books, exclusively those without a political agenda. I seek knowledge, not reassuring propaganda. And I don;t read the Guardian. As far as periods of economic depressions go you are misinformed or do not want to know the truth.
  4. Ironically their manic printing created this situation.
  5. That's the thing many people miss. On this one you can say this time it's different as international legal frameworks have been quietly built over decades to remove the power of governments to decide these things. We are totally screwed.
  6. The environment does that to them. Jokes asides I would expect to become angry and aggressive if I was portrayed as a parasite day in day out.
  7. I'm not sure how right you are about this, I admit there may be some truth to it since I got carried away trying to get through to KB in the heat of the argument. I'm not saying we are in a depression now but expect we will experience one in the next ten or so years, in my mind it is coming. That is the assumption I am working on and with all depressions that I have read about lots of women end up resorting to prostitution but not by choice. And revolutions rarely occur in these circumstances, people are too busy trying to survive.
  8. Poles are a very practical stereotype for jokes but the few I have met were fine people.
  9. Saving when it leads to investments is not hoarding, it is a form of consumption. A sound economy encourages.savings of that type,
  10. Our banks have 3 or 4 trillions dollars of debts that we can't print. I think a shortage of dollars is what got us in 1976 when confidence in the pouind was lost.
  11. Nah... low rates started wirth Greenspan, there were a few ups and downs but they never reallty stopped falling since he became chairman of the Fed.
  12. "This is all to create British jobs ... for Polish people." Very funny.
  13. No, I'm saying he sounds emotional about it. Committed. Like someone who's got a material stake in the outcome. Anger when it goes against him, exhuberant boasting and taunting when it doesn't. Wild exagerations throughout for maximum drama effect and I guess to gather as much publicity as possible. He was like that in early 09 when he predicted nothing less than the end of the world. He then toned it down a bit, some kind soul probably explained to him those exagerations where not doing any good to his credibility.. He seems to be back to his old tricks. Maybe he's just a passionate chap.
  14. Based on fully valued loans to Kazakh nightclubs, Greek sovereign bonds and goodwill in the bank's Hungarian and Latvian subsidiaries?
  15. Beauty. The banks were really taking the p*ss with their alleged NPV discounting that wasn't one. These guys are so convinced they can fool people all the time I hope this one hurts them bad. Go Greece go!
  16. Wow! I guess if the markets started to rollback all the monetary inflation discounting that's taken place to date, it could happen.
  17. Brave call. The market should have fallen more by now with all the euro doom and gloom, my guess is if you're right it is because we've run out of sellers.
  18. A decent case for gold mining shares, September. What I am wondering is, since gold prices went up 8 times in ten years and gold miners are 'practically minting money' and for ever about to generate enormous profits as I've read many time ... where are all the fabulous dividends? http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/15_Special_John_Hathaway_Report_-_Gold,_Opportunity_of_a_Lifetime.html
  19. Roubini sounds like a man who's made speculative bets that were too big for him. He wouldn't be the first. Keynes went nearly bust when he bet against the Reichsmark, he had to borrow from friends and family to avoid a wipe out.
  20. I guess that French credit explosion will be blamed on the Germans at some stage.
  21. In the meantime, as most rejoice over the potential revival of the Great Ponzi, the economy's gutting continues unabated. http://www.telegraph.co.uk/finance/debt-crisis-live/8914584/Debt-crisis-live.html
  22. That is, unfortunateluy, exactly what the inflationary policies of our government aim to do.
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