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  1. "Railway Mania was an instance of speculative frenzy in Britain in the 1840s" Edward Chancellor has produced a sublime piece of work, describing the lunacy in engrossing detail: http://www.amazon.co.uk/Devil-Take-Hindmost-Financial-Speculation/dp/0452281806
  2. There was a time in the UK when building houses won votes. http://stephentall.org/2014/02/19/18-posters-in-which-the-conservatives-promise-to-build-more-houses-the-last-one-appeared-in-1979/
  3. Staggering http://www.mortgagestrategy.co.uk/products/mbe-manchester-100-ltv-loans-and-sub-prime-must-return/1051872.article Incredible, his solution for a "recovery" is a return to the irresponsible lending that created this mess. Actually, the real solution to the problem is a return to sensible property prices, which is where they're slowly heading. Whether he likes it or not.
  4. I'm not a fan of pasting links, but the guys running zero hedge are seriously sharp...
  5. Anyone read this? The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S & L Industry http://www.amazon.co.uk/Best-Way-Rob-Bank-Own/dp/0292721390/ref=sr_1_3?s=books&ie=UTF8&qid=1313005868&sr=1-3
  6. William Black, one of the few people who blew the whistle on the Savings and Loans crisis of the 1980's. He wrote a book about it too. http://en.wikipedia.org/wiki/William_K._Black
  7. Mervyn King and other central bankers have gone to enormous lengths to make sure that the people who created this crisis, ie banks and property speculators, are not only protected from the consequences of their actions, but are actually being allowed to profit at the expense of people who behaved prudently. For example propping up the Wilson's property scheme in Kent with ridiculously low rates while punishing savers. This is what you get when you remove moral hazard from capitalism, if he doesn't understand this he should resign.
  8. In 2005 Pam Woodall warned about the enormous dangers to the Irish economy, what a pity there arent more journalists like her in the world. Recently The Econonomist warned about the Australian bubble, but as usual there are fools explaining how everything is fine over there. This crisis has made me dumbfounded at the staggering stupidity of people, I never thought that people could be so idiotic.
  9. First published in 1873, but when the credit crisis broke, the BoE turned to his advice from this book. The nature of banking and crises has barely changed since then.
  10. Bagehot did not provide a 'cure' for credit booms, he understood the market was far too complex for that. Rather read the book than regurgitate nonsense from the internet.
  11. Bagehot's book is a classic, it is a beautifully written description of banking and the nature of our system of credit. Published in 1873, just a few years after the run on Overend and Gurney in Lombard Street. If you want to understand more about how the system works, read this book instead of the garbage on this forum. http://www.amazon.co.uk/Lombard-Street-Description-Money-Market/dp/0471345369/ref=sr_1_2?ie=UTF8&qid=1288335713&sr=8-2
  12. Yeah, sorry to say, Richmond is way better.
  13. Make that collapsed company... http://www.dailymail.co.uk/tvshowbiz/article-1169915/Location-Location-Location-star-Phil-Spencers-property-firm-went-bust-owing-500-000.html
  14. You would have to be nuts to take stock market tips from one of America's self-help "gurus".
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