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SleepyHead

The Penny Is Beginning To Drop!

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Someone actually has the balls to say it!

We've been screaming it for years, now they wake up. We should of let the banks go... It would have been cheaper. Doh!

CNBC's Mark Haines Erin Burnett and David Faber.

Just 4 mins, particularly the second half. You can hear the penny dropping!

EDIT: Corrected Marc Faber to David Faber. Thanks to 'thecrashingisles'

Edited by Khayl

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Someone actually has the balls to say it!

We've been screaming it for years, now they wake up. We should of let the banks go... It would have been cheaper. Doh!

CNBC's Mark Haines Erin Burnett and Marc Faber.

Just 4 mins, particularly the second half. You can hear the penny dropping!

I am on a bit of an old songs theme tonight and don't know who actually sings the original but I think that :

"It's too late now baby, it's too late now" about covers their epiphany .......

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I am on a bit of an old songs theme tonight and don't know who actually sings the original but I think that :

"It's too late now baby, it's too late now" about covers their epiphany .......

Carol King, Tapestry?

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"Would have been better off letting them go" (down, as in the banks)

Yeah, the penny is dropping. This from CNBC, the fox news of business news.

Amazing.

I think this is the first time I have heard the presenters bearish, that is scary.

Hold on folks, its gonna get bumpy.

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Guest LongBlackKilt
The Penny Is Beginning To Drop!

No, I never had any doubt about being in the toilet.

All I asked for was a separate cubicle.

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No, I never had any doubt about being in the toilet.

All I asked for was a separate cubicle.

Ah yes. This is a problem best dealt with by sitting down rather than standing up ...

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I spent years talking to people about this impending crash and feeling like I was the only one. I wish I'd heard of this place earlier because I had some serious frustrating conversations when I've been on my own argueing and I got round to wondering if it was just me, maybe I didn't understand how the economics ran these days. It didn't stop me, but I did wionder if I'd ever see the day when it all happened.

Then when the banks were going it was almost the same.

What p*sses me off is how many are going to be coming out soon calling the same view about the banks, when at the time it was all how we had "no choice".

YOU ALWAYS HAVE A CHOICE.

The new threat now is the descent to Socialism. That's where Brown sees as the way forward and unless we get rid soon it'll take more than an election to turn this round.

Tell that to your friends and watch them do the same as they've done over everything else.

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I am on a bit of an old songs theme tonight and don't know who actually sings the original but I think that :

"It's too late now baby, it's too late now" about covers their epiphany .......

great song! Carole King - its too late baby

Stayed in bed all morning just to pass the time
There's something wrong here, there can be no denying
One of us is changing
Or maybe we just stopped trying
And it's too late, baby, now it's too late
Though we really did try to make it
Something inside has died
And I can't hide and I just can't fake it

As for the banks.... Stuff um! So what if credit default swaps implode all over the world. My insurance company won't pay up for me!

Edited by Khayl

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I spent years talking to people about this impending crash and feeling like I was the only one. I wish I'd heard of this place earlier because I had some serious frustrating conversations when I've been on my own argueing and I got round to wondering if it was just me, maybe I didn't understand how the economics ran these days. It didn't stop me, but I did wionder if I'd ever see the day when it all happened.

Then when the banks were going it was almost the same.

What p*sses me off is how many are going to be coming out soon calling the same view about the banks, when at the time it was all how we had "no choice".

YOU ALWAYS HAVE A CHOICE.

The new threat now is the descent to Socialism. That's where Brown sees as the way forward and unless we get rid soon it'll take more than an election to turn this round.

Tell that to your friends and watch them do the same as they've done over everything else.

It certarinly was very frustrating. Its one more thing that has taught me to have the courage of my convictions and not move with the heard just because its the easiest thing to do.

In terms of the descent to socialism, I do sometimes wonder if it was a master stroke og GB to lend out a load of money, then demand it all back knowing that it wasn't there to be given back, so they'll just take the assets instead. I know this has been tha bankers trick over time but it seems the govt have done the same to them and in turn taken over the whole country. I dont credit him with that much intelligence though, though suspect there are some other shadowy figures overseeing the whole debacle.

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What p*sses me off is how many are going to be coming out soon calling the same view about the banks, when at the time it was all how we had "no choice".

YOU ALWAYS HAVE A CHOICE.

The new threat now is the descent to Socialism. That's where Brown sees as the way forward and unless we get rid soon it'll take more than an election to turn this round.

Great post.

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Guest LongBlackKilt
I spent years talking to people about this impending crash and feeling like I was the only one. I wish I'd heard of this place earlier because I had some serious frustrating conversations when I've been on my own argueing and I got round to wondering if it was just me, maybe I didn't understand how the economics ran these days. It didn't stop me, but I did wionder if I'd ever see the day when it all happened.

Then when the banks were going it was almost the same.

What p*sses me off is how many are going to be coming out soon calling the same view about the banks, when at the time it was all how we had "no choice".

YOU ALWAYS HAVE A CHOICE.

The new threat now is the descent to Socialism. That's where Brown sees as the way forward and unless we get rid soon it'll take more than an election to turn this round.

Tell that to your friends and watch them do the same as they've done over everything else.

The only TINA that was any good was the one that impersonated Sarah Palin.

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It certarinly was very frustrating. Its one more thing that has taught me to have the courage of my convictions and not move with the heard just because its the easiest thing to do.

In terms of the descent to socialism, I do sometimes wonder if it was a master stroke og GB to lend out a load of money, then demand it all back knowing that it wasn't there to be given back, so they'll just take the assets instead. I know this has been tha bankers trick over time but it seems the govt have done the same to them and in turn taken over the whole country. I dont credit him with that much intelligence though, though suspect there are some other shadowy figures overseeing the whole debacle.

Moving with the herd really was the cause. Only a few had the intelligence and courage to question this.

As for the socialism thing. Well. I heard one quote.

"why will capitalism always survive?...... Because it will always get socialism to save it."

I think each system is bound to fail frankly.

For "free market" I read "law of the jungle", and for "state owned" I read "state controlled"

I don't want to live in a law of the jungle economy, cos every one of us will, one day be the 'weak' that gets trampled on by the stronger.

But I also don't want the state to dictate to me, particularly if the democratic system is flawed or failing. Which it seems to be most of the time.

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Moving with the herd really was the cause. Only a few had the intelligence and courage to question this.

As for the socialism thing. Well. I heard one quote.

"why will capitalism always survive?...... Because it will always get socialism to save it."

I think each system is bound to fail frankly.

For "free market" I read "law of the jungle", and for "state owned" I read "state controlled"

I don't want to live in a law of the jungle economy, cos every one of us will, one day be the 'weak' that gets trampled on by the stronger.

But I also don't want the state to dictate to me, particularly if the democratic system is flawed or failing. Which it seems to be most of the time.

Can't disagree with you there. I dont think either system really works, but it kind of annoys me that people seem so blinkered and are folled into thinking that capitalism does work. They come out with arguments like, its worked perfectly well for the past 80 years, which quite frankly is the blink of an eye, and that has not been without its problems. I am in no way defending socialism either. I dont think that we are that smart as a race that we have explored all the possible options yet, so I am optimistic in that sense, on the other hand, we are all animals concerned with our own survival, which will always be the over riding instinct when times are tough, which can lead us down a pretty grim path. Best try and enjoy the ride on the way I guess.

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Can't disagree with you there. I dont think either system really works, but it kind of annoys me that people seem so blinkered and are folled into thinking that capitalism does work. They come out with arguments like, its worked perfectly well for the past 80 years, which quite frankly is the blink of an eye, and that has not been without its problems. I am in no way defending socialism either. I dont think that we are that smart as a race that we have explored all the possible options yet, so I am optimistic in that sense, on the other hand, we are all animals concerned with our own survival, which will always be the over riding instinct when times are tough, which can lead us down a pretty grim path. Best try and enjoy the ride on the way I guess.

Yeah, good post. I agree.

We really have to come up with another option, or a way of finding a happy medium.. Most likely involving a caring, sharing, respecting, conserving economic model etc. etc.

Hippy talk I know, but I've been listening to that "too late baby song" from an earlier post. Peace Man!

How the hell we get there though I don't know! Maybe this Credit Crunch/Financial Calamity is human society moving to the next stage?

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Shoulda, woulda, coulda...

My gut feeling was that - having protected savings - that Northern Rock should have been allowed ot go under. Badly run business, insolvent, slack could have been taken up by other financial institutions. What did I know? The consensus was something else...

A political decision which begat other political decisions. Bailout fix after bailout fix. And so it goes on... the costs will be mind boggling and long-lived.

Frustrating is not the word.

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it kind of annoys me that people seem so blinkered and are folled into thinking that capitalism does work. They come out with arguments like, its worked perfectly well for the past 80 years, which quite frankly is the blink of an eye,

Its not like that 80 years saw a rise in the standard of living that was massively in excess of the 5000 years before that?

Anyway, its not blinkered its reasoned. Read the Wealth of Nation, or one of the many modern updates.

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"Would have been better off letting them go" (down, as in the banks)

Yeah, the penny is dropping. This from CNBC, the fox news of business news.

Amazing.

I think this is the first time I have heard the presenters bearish, that is scary.

Hold on folks, its gonna get bumpy.

I agree. I don't think the next wave of Bank writedowns, which is coming with the reporting season, can be stomached by even the idiot bailout brigade.

They've pushed the global economy to the brink trying to bailout the banks, and still Benanke is saying it needs more taxpayers money.

The CNBCers, I think, are feeling sick with the immorality of it all, and even they can't defend it anymore.

We're going into a depression anyway now. So why keep digging the grave deeper?

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I spent years talking to people about this impending crash and feeling like I was the only one. I wish I'd heard of this place earlier because I had some serious frustrating conversations when I've been on my own argueing and I got round to wondering if it was just me, maybe I didn't understand how the economics ran these days. It didn't stop me, but I did wionder if I'd ever see the day when it all happened.

Then when the banks were going it was almost the same.

What p*sses me off is how many are going to be coming out soon calling the same view about the banks, when at the time it was all how we had "no choice".

YOU ALWAYS HAVE A CHOICE.

The new threat now is the descent to Socialism. That's where Brown sees as the way forward and unless we get rid soon it'll take more than an election to turn this round.

Tell that to your friends and watch them do the same as they've done over everything else.

Why talk of the threat of socialism when capitalism has clearly failed?

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Good video but that's David Faber, not Marc Faber.

To continue the 70s soul theme:

Never mind the forecast

'Cause the sky has lost control

'Cause the fury and the

broken thunders

Come to match my raging soul

Now I don't believe

I want to see the morning

Going down the Stoney End

I never wanted to go

Down the Stoney End

Mama let me start all over...

http://www.youtube.com/watch?v=eM6UczqrIYM

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Yeah, good post. I agree.

We really have to come up with another option, or a way of finding a happy medium.. Most likely involving a caring, sharing, respecting, conserving economic model etc. etc.

Hippy talk I know, but I've been listening to that "too late baby song" from an earlier post. Peace Man!

How the hell we get there though I don't know! Maybe this Credit Crunch/Financial Calamity is human society moving to the next stage?

Don't be so bloody naive man. Human's have never beaten their swords into powershares and the 20th century saw more mass murder and mayhem than ALL of the rest of recorded history added together.

We are no different.

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Why talk of the threat of socialism when capitalism has clearly failed?

Ever seen Americans trying to escape to Cuba to get away from the cruelty of capitalism?

There is your answer.

Socialism is shit.

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Don't be so bloody naive man. Human's have never beaten their swords into powershares and the 20th century saw more mass murder and mayhem than ALL of the rest of recorded history added together.

We are no different.

But hasn't the 20th century seen more people alive than ever lived before? I am sure I read that somewhere.

And don't you mean plowshares? Not normally one to give people a hard time for that sort of thing, but I was just wondering what a powershare was. Not in the FTSE or the Dow I suspect. :)

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In terms of the descent to socialism, I do sometimes wonder if it was a master stroke og GB to lend out a load of money, then demand it all back knowing that it wasn't there to be given back, so they'll just take the assets instead. I know this has been tha bankers trick over time but it seems the govt have done the same to them and in turn taken over the whole country. I dont credit him with that much intelligence though, though suspect there are some other shadowy figures overseeing the whole debacle.

Oh sure, the elite planned it all because they have always wanted socialism. What, big capitalists? That's what they wanted you to think.

Ah there's a word. THINK!

Edited by Laughing Gnome

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Why talk of the threat of socialism when capitalism has clearly failed?

Who says it's failed? This is a point in history, not the end of it.

Now the Soviet Union..... that was failure.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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