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On the TV today I have watched several apparent 'Economists' be interviewed about the economy, how long we will be in recession, etc, and several of them looked about, um, 12 years old.

None looked old enough to have left school let alone to remember the 1990's recession - yet here they are on the TV talking 'expertly' about the 1980s and the 1930s.

Frankly, I wouldn't trust them to order me a Big Mac.

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On the TV today I have watched several apparent 'Economists' be interviewed about the economy, how long we will be in recession, etc, and several of them looked about, um, 12 years old.

None looked old enough to have left school let alone to remember the 1990's recession - yet here they are on the TV talking 'expertly' about the 1980s and the 1930s.

Frankly, I wouldn't trust them to order me a Big Mac.

I'm not an economist and it is a long time since I was a schoolchild.

On 17 March 08 I played with oanda and bought (not actually):

1 oz gold

10000 JPY

1000 USD

1000 EUR

1000 CHF

It 'cost' £2765. I did the same this morning and it 'cost' £3729, nearly 35% more. I don't much care that this is childishly simple but it makes me feel that the few pounds in my pocket are not going to go as far as they did and my income needs to increase by 35%.

p-o-p

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Yep a complete disgrace that we have all these younguns.We need someone with experience like David Smith,Times, or Ruth Lea,Director of Policy Studies(remember the hatchet job she did on FP because there was no sign of a HPC apparently as recently as last May).Or perhaps they just can't show their faces any more out of shame.

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On the TV today I have watched several apparent 'Economists' be interviewed about the economy, how long we will be in recession, etc, and several of them looked about, um, 12 years old.

12? slight exageration!

And anyway, a 12 year old couldn't possibly f*ck things up as much as G.Brown & A.Darling.

None looked old enough to have left school let alone to remember the 1990's recession - yet here they are on the TV talking 'expertly' about the 1980s and the 1930s.

I'm in my 20s, yet I know far more about monetary history and theory than the average middle aged person, so I don't see what your problem is?

Edited by InternationalRockSuperstar

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12? slight exageration!

I'm in my 20s, yet I know far more about monetary history and theory than the average middle aged person, so I don't see what your problem is?

The point is that there will generally be someone in their 40/50/60/70's with more experience that WILL know more than you having been there before that I would rather listen to than someone who has just learnt "theory", practical experience counts for a lot more in my opinion. For the record I am in my very early thirties and am just growing out of the "I know everything" phase and into the "the more I know the less I realise I know" phase.

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The point is that there will generally be someone in their 40/50/60/70's with more experience that WILL know more than you having been there before that I would rather listen to than someone who has just learnt "theory", practical experience counts for a lot more in my opinion. For the record I am in my very early thirties and am just growing out of the "I know everything" phase and into the "the more I know the less I realise I know" phase.

I'm in my fifties and am at the stage of "each time I learn something new it comes with the baggage of showing me that there are another ten things that I need to learn about!"

p-o-p

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Not all us young uns are clueless about what is going on. I think I have a far better understanding than the people running the company I work for.

Virtually everyone thinks that when they are young. I know I did. As I have got older I have found out that older and wiser is indeed true and that experience does count for a great deal.

Of course, if you are young and bright and do a lot of reading, or learn from others, you can gather a lot of knowledge whilst still young but the experience actually does take time.

We all come here to learn.

Perhaps my issue is that I remember how ruddy painful the 1980s were for large parts of the country - many parts have still not recovered from the 80s - and having some 12 year old looking so-called Economist talk glibly about it on the TV is, well, annoying.

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I'm not an economist and it is a long time since I was a schoolchild.

On 17 March 08 I played with oanda and bought (not actually):

1 oz gold

10000 JPY

1000 USD

1000 EUR

1000 CHF

It 'cost' £2765. I did the same this morning and it 'cost' £3729, nearly 35% more. I don't much care that this is childishly simple but it makes me feel that the few pounds in my pocket are not going to go as far as they did and my income needs to increase by 35%.

p-o-p

10,000 JPY is about £40.

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I'm 27 and remember the 90s recession. Some of us were actually paying attention. Also, although the acquisition of material wealth and the processes involved therein have never been of very much interest to me, I couldn't help but notice when my aunt and uncle found it necessary to move back in with my grandparents.

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I'm in my fifties and am at the stage of "each time I learn something new it comes with the baggage of showing me that there are another ten things that I need to learn about!"

p-o-p

I'm ignorant. I find that the less I know the easier it is to make decisions.

The more I think and pontificate the less I actually do.

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I'm in my fifties and am at the stage of "each time I learn something new it comes with the baggage of showing me that there are another ten things that I need to learn about!"

p-o-p

I'm in my fifties, and well remember my dad saying "I wish I was *, and know what I know now" (* = 16, 18, 20 whatever)

Didn't make sense when I was young, makes a lot of sense now.

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I'm ignorant. I find that the less I know the easier it is to make decisions.

The more I think and pontificate the less I actually do.

I've discovered that doing nothing is usually the correct course of action to take most of the time.

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Not all us young uns are clueless about what is going on. I think I have a far better understanding than the people running the company I work for.

However the people who own the company disagree - otherwise you'd be running it. The world is full of young uns who think they could do everything better. Eventually they learn.

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The point is that there will generally be someone in their 40/50/60/70's with more experience that WILL know more than you...

Well I've yet to meet one :D

Seriously though, I'm just thinking through all my parents' friends - a lot of them have lost money in BTL or endoenment mortages or Equitable Life, Standard Life etc. They really are all clueless. Some of them even naively believe that they are going to receive a pension :lol: They just don't 'get it' (the entire financial system being insolvent, that is).

People "in their 40/50/60/70's" are the architects of the current mess.

...having been there before that I would rather listen to than someone who has just learnt "theory", practical experience counts for a lot more in my opinion. For the record I am in my very early thirties and am just growing out of the "I know everything" phase and into the "the more I know the less I realise I know" phase.

And I do have practical experience of recessions. This country has been in a recession for nearly a decade.

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However the people who own the company disagree - otherwise you'd be running it. The world is full of young uns who think they could do everything better. Eventually they learn.

A lot of the time they're actually right, gramps. Not that 'being better at ******ing everything up than the last bunch of clowns' is much to crow about. I blame the parents.

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There's an old saying- "Never judge a man until you've walked a thousand miles in his shoes"

There's a world of difference between reading about a recession in a classroom and actually living through it.

Us old uns have lived through a few of these. This one IS different. The casualties in the previous recessions were manufacturing, shipbuilding, dockers, miners, etc.

We don't make anything now. The docks are gone, the mines too.

To paraphrase- "There are no alternative jobs"

All you youngsters who think they know it all because they have a dinky little NVQ in meeja studies will need to get real.

There are jobs. Someone has to cut the cabbages in the fields 'cos the Poles have all gone home.

If you get through this unscathed you will have earned the right to pontificate.

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If you get through this unscathed you will have earned the right to pontificate.

Nobody will. Nobody deserves to. Least of all those who've been through it before and let it happen again.

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It 'cost' £2765. I did the same this morning and it 'cost' £3729, nearly 35% more. I don't much care that this is childishly simple but it makes me feel that the few pounds in my pocket are not going to go as far as they did and my income needs to increase by 35%.

Only if we accept the premise that your consumption/standard-of-living is not to decline.

That may hold for you as an individual (depending on how efficient you are at engineering that desirable outcome) but for the UK collectively, I don't believe it can.

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Nobody will. Nobody deserves to. Least of all those who've been through it before and let it happen again.

People who lived and worked (or tried to) through the last great depression were hardly in positions of influence during the run-up to this one; chances are they were retired or dead. IMO the current mess was engineered and marketed by the young, under the regulation and political leadership of the middle-aged (GB: born in 1951).

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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% +
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      • Even
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      • up 5%



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