BandWagon

"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

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/

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.

So why don't you buy his book?

I'm not a fan of pasting links, but the guys running zero hedge are seriously sharp...

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

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

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.

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.

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.

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.

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

Yeah, sorry to say, Richmond is way better.

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

You would have to be nuts to take stock market tips from one of America's self-help "gurus".

Alan Greenspan was also totally oblivious, telling people that there wasn't any serious overvaluation in property. If you want to understand more, try reading Galbraith's account of "The Great Crash 1929", or try Edward Chancellor's "Devil Take The Hindmost", both go some way to explaining the behaviour of authority in these issues.

There was a better article written on the 16th July called "In Come the Waves", it was featured on the cover of The Economist, explaining why the valuations were so ludicrous. The US bubble popped a year later, althought most people only became aware of the problems in 2007/08. http://www.economist.com/node/4079027?story_id=4079027

Not to be taken seriously, this organisation is in the habit of publishing some of the worst drivel I've read anywhere.

Classic book, still probably the definitive study of the madness of crowds.

That's a great movie, The Ring. Would anyone like to borrow it?

Unfortunately Roger Bootle also doesn't know what is going to happen to the economy in four or five years time, but that won't stop a feast of fools hanging from his words.

yep, negative real interest rates. We're living in economic lala land.

This was a monumental post from trojantrader on the MF website a few years back, the data may be old but the links should still be relevant. Enjoy... http://boards.fool.co.uk/Message.asp?mid=9770888

This is a David Smith article reporting on hearsay and speculation on what is going to happen to interest rates in four years time. You should ignore this type of drivel.

Liar's Poker was written by Michael Lewis, Steve Eisman was one of the traders who shorted the subprime market.