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jimmyjazz

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About jimmyjazz

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  1. i know this has been said before but i want to say it again: this is what happens when banks start gambling with their money instead of doing plain old boring banking. i mean societe general and credit suisse might as well have stuck their money on black at the roulette wheel. i also think that the worse this whole mess gets the more likely an attack on iran becomes as that is the only thing they can do to create liquidity in the US economy. i cant prove this from first principles as i dont have the economics training but empirical evidence over the last 7 years shows that every time the US economy freezes up with a liquidity and/or stock market meltdown a war is executed which somehow frees up the system again . its like putting the defibrillators on a heart attack victim. [edited for spelling ]
  2. Hi I want to host a domain www.something.org where something is my domain name. i dont need too much fancy stuff. probably will use some php for some simple feedback forms but no back end database is planned . it will be mainly static HTML. the site will be an anti-nu-labour site and hopefully hard hitting. any tips on good deals which include hosting and DNS registration in a complete bundle.
  3. they (Britsh govt /army/ silent majority of the uk population) used Depleted Uranium (a chemical weapon ) on Iraqi humans so what makes you think they will give a toss about animals ?
  4. i wrote this about 6 months ago based on what i was reading here
  5. Can i just put my twopence in, Just as CGNAO has been saying there will be an almighty crash I have been saying for the past few years (under some different usernames) that the only and inevitable response frmo Washington/London to an economic downturn will be another war. This time with Iran. Anyone who fails to see the depressing reality of this cycle of Wall St boom- Wall Street crash - war - Wall Street boom is really burying their heads deep in the sand, just look back at the summer of 2002. we had a MAJOR CRISIS in capitalism that summer with the Enron scandal followed by dozens of other accountancy scandals at many major US companies. I remember one commentator on newsnight saynig it was the end of capitalism as we knew it ! The stock market tanked really badly and on the eve of war with Iraq in march 2003 the DJIA was at 7700 and falling and the FTSE was at 3300 and falling,. if it carried on the game was really up for western capitalism and a hufe recession loomed. of course the IRaq war saved the day and the FTSE and DJIA soared as soon as the first cruise missiles hit their targets . they even called it the BAGHDAD BOUNCE. well folks its a short 5 years later and the familiar pattern is being repeated yet again (remember the Afghan war was started only a year after the dot.com burst had gutted wall street) and we are being primed for war with IRAN to save the US and UK economies. i supose they will call it the TEHRAN TONIC. will we just sit by like zombies and let it happen ? of course we will.
  6. you gotta laugh,. 20 years ago you could have bought the entire town for the same money. this is the irish's first property explosion and they have really torn the rear end out of it.
  7. Look what you can rent for just 300 euros a month in Almeria province, Southern Spain. OR THIS IN MARBELLA for the same price
  8. TONY BENN V JOHN BOLTON This is how QT should be
  9. I love reposting this KINDLEBERGER To sum up what he says (he is basing a lot of this on work done by Hyman Minksy : 1) The boom starts when people retreat from one asset and pile into another this is usually caused by some shock to the original asset (a lot of people exited stocks and plowed into houses after the dot.com burst) 2) The boom is then fed by easy credit that enlarges the total money supply and makes speculation possible (more margin !) 3) The increased demand for the asset leads to price rises in the asset and atrracts new investors 4) Positive feedback develops as new money from investors leads to increase in prices that feeds back in to increased investment which leads to higher prices and so on . Minsky calls this stage EUPHORIA . AdamSmith called this investment for price increases only (as opposed to investment for production gains and real wealth creation ) OVERTRADING 5) As households see others making profits from speculative purchases they tend to follow : Monkey see , Monkey do 6) When the number of households indulging in speculation grows to take in people who normally do not get involved in speculation we have reached the next stage . Minsky calls this stage MANIA and we have a BUBBLE 7) At a late stage speculations tends to detach itself from really valuable objects and turn to delusive ones. A larger and larger group of people seeks to become rich without a real understanding of the processes involved (BTLs ) . 8) EUPHORIA or OVERTRADING can easily spread from one country to another 9) As the BOOM or MANIA continues the number of transactions and prices continue to rise 10) AT SOME STAGE A FEW INSIDERS DECIDE TO TAKE THEIR PROFITS AND SELL OUT. 11) At the top of the market there is now hesitation as new recruits to the speculation are balanced in numbers by the number trying to get out. Prices and numbers of transactions begin to level off 12 ) There now follows the period of FINANCIAL DISTRESS . This is the awareness that one may not be able to meet ones liabilities. On the whole it is the realisation among the speculating community that a rush for cash is underway (a rush for liquidity) and that there might not be enough cash to go around. Prices and Transaction numbers start to fall. (wrt Housing the number of properties for sale increases dramatically as speculators try and offload but since fewer new speculators wish to buy these properties the number of transactions FALL . Obviously this means houses take much longer to sell). 13) As more and more Speculators realise that the market can go no higher the rush for cash turns into a stampede. The rush is on and prices and transaction numbers decline rapidly (and the number of houses for sale increases rapidly and houses sit on the market for a long time unsold) . Bankrupties increase . Liquidization is often disorderly and degenerates into PANIC as the realisation spreads that there is only so much money. 14) The final stage has been reached : REVULSION. At this stage the asset is one that no-one wants to buy at any cost and banks cease lending on the collateral of the assets (Bye Bye MEW) 15) The final tragic scene is TorSchlussPanik or Door-Shut-Panic when every one rushes to the exit before the door closes and the price collapses. ====================================== are we at 12 ?
  10. how can they be pumping money into the markets and hoarding liquidity at the same time :confused:
  11. http://www.rightmove.co.uk/viewdetails-181...11&tr_t=buy Holbrooke Court, Holloway N7, London Offers in Region of £249,995 2 bedroom apartment
  12. ?? This IS a support group. A support group for the dispossessed, the disgruntled and the downright curmudgeonly.
  13. absolutely. But who is to be held responsible ? not me that's for sure :-)
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