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If You Believe What You Read On Here


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I'm curious to know if others on here feel as I do.

I find this site intensely depressing. Not because I'm a bull and I don't want to hear it or any of that nonsense. Not specifically about the housing market either - although that is a big part of it.

But the whole thing - the debt, the printing of money to make sure future generations are in it up to their necks, globalization - the fact we're competing for jobs with people where you buy a house for a week's wages here - the sense that there is a hidden force guiding the economic development of the world - to their, and only their, benefit - climate change - inevitable higher taxes and lower living standards - the gradual erosion of personal liberties - the list goes on and on and on.

I've often said this before - when I was young, when my Dad was young, in fact, looking back I would say for at least a hundred years - there was a pretty universal belief that things were getting better. Working people had a slightly bigger slice of the pie, education helped people out of the working class, conditions in factories were improving meaning that moving off the serfdom of working the land meant that (eventually) it was worth it. But now, everything seems to be going downhill. Even with New Labour's absurd idea of 50% of people going to university, education today is no guarantee of a decent future. Debt, debt and more debt is the name of the game. How can you afford it if you haven't got a decent job.

Is there anything to be optimistic about? Is there anyone on here who takes a positive and optimistic view of the future. I'd like to hear those views - if it doesn't involve Mad Max scenarios.

Edited by Let's get it right
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The internet can set you free.

Without this site or other blogs would you have the knowledge you now have? Would you be able to try to take an informed view of the future and prepare yourself accordingly? Ok, it's depressing, but do you really want to wake up one morning and wonder wtf happened? No economic news truly surprises me anymore, and that is in large measure down to this website where my financial education largely began.

With the internet you have the opportunity to gather information and set your own economic path. You can liberate yourself - in a way that would have been impossible years ago.

I believe that we are in for a long hard slog (and rightly so, we have been living high on the hog on the backs of others for too long), but we still have great opportunities due to the wide sphere of knowledge in the English speaking world which you can tap into. We will need to be flexible and willing to retrain, study and take risks. The wider mass of people will find life tough, but you can take steps to help yourself.

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Guest UK Debt Slave

Is there anything to be optimistic about?

Not much

But they wont get away with what they are doing. So despite the fact life is going to get much harder, at least you'll get to see some of the fekkers who caused all this mess hung from lamposts.

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Is there anyone on here who takes a positive and optimistic view of the future. I'd like to hear those views - if it doesn't involve Mad Max scenarios.

I'm cautiously optimistic.

I graduated this year and landed a somewhat secure job with nice pay which I enjoy, and come from a fairly well off family who supported me through the unemployed summer. I'm currently counting my first few months pay and looking to invest it in gold (I don't want the government wiping out what little savings I have thanks).

If predictions are anything to go by and house prices do crash somewhat, me and my partner should have enough money to get a nice deposit and low interest mortgage by the end of 2010/early 2011. The recession thus far, has handed me nothing but opportunity. I know I've been lucky. Fingers crossed it doesn't turn sour.

Edited by fadeaway
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See what is happening, and do something that will benefit you using the knowledge. If you know what is happening, position yourself financially in a position that will allow you to benefit. My view is buy property at a big discount from a struggling seller, as inflation wont be stopped and money will be printed as needed.

Edited by AteMoose
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Things will get better. It's becoming clear that they will probably get worse first though with all the mistakes that have been and are being made. When we come out the other side we will hopefully be living in a country with lower income inequality, less debt, cheaper housing, and more secure lifestyles better suited to our incomes. I am looking forward to paying a fair price for a family house one day instead of £250k for a one bedroom flat next to the gas towers.

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Is there anything to be optimistic about? Is there anyone on here who takes a positive and optimistic view of the future. I'd like to hear those views - if it doesn't involve Mad Max scenarios.

It'll all be fine. Until it's not, and let's face it, there's nothing you can do, so you might as well be cheerful. Works for me.SignedG.Brown MP

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I'm cautiously optimistic.

I graduated this year and landed a somewhat secure job with nice pay which I enjoy, and come from a fairly well off family who supported me through the unemployed summer. I'm currently counting my first few months pay and looking to invest it in gold (I don't want the government wiping out what little savings I have thanks).

If predictions are anything to go by and house prices do crash somewhat, me and my partner should have enough money to get a nice deposit and low interest mortgage by the end of 2010/early 2011.  The recession thus far, has handed me nothing but opportunity. I know I've been lucky. Fingers crossed it doesn't turn sour.

Which low interest mortgage is that then ? Unless you have a 25% deposit you'll be lucky to get less than 6%.

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Because he's cautiously optimistic... Maybe for once in this thread we could not try and just pull down people's beliefs. On most other sites this would be the real trolling....

It is very young to buy a house. I am simply curious, what's wrong with that? Why don't you wait for his response and my possible response before accusing me of pulling down people's beliefs?

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I'm cautiously optimistic.

I graduated this year and landed a somewhat secure job with nice pay which I enjoy, and come from a fairly well off family who supported me through the unemployed summer. I'm currently counting my first few months pay and looking to invest it in gold (I don't want the government wiping out what little savings I have thanks).

If predictions are anything to go by and house prices do crash somewhat, me and my partner should have enough money to get a nice deposit and low interest mortgage by the end of 2010/early 2011. The recession thus far, has handed me nothing but opportunity. I know I've been lucky. Fingers crossed it doesn't turn sour.

I used to be like you (still am a bit, not completely reckless) and I seriously think you need to get out and get a life before you sign away your freedom. If you are 21 you have plenty of time before you start being sensible. The alternative is to be somebody who owns a house at a young age but is very boring so the only people who come round are boring too.

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Don't confuse stuff. money, houses etc with happiness. Big big mistake.

Aye, find what you like and do that.

Although I'm happier now I've got about about 1 year's living expenses saved up as it means I can relax more at work and have a laugh without having to stress about losing my job, mortgages etc.

My outgoing boss asked me where I wanted ot be in a few years, and I just told I have no masterplan, just to take each day and do my best at work and make sure I'm enjoying it. As someone trying to climb up (and looking horrifically unhealthy and strssed because of it) he just couldn't understand it and swiftly brought the meeting to a close as he thought I was being noncommittal. Weird.

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It is very young to buy a house. I am simply curious, what's wrong with that? Why don't you wait for his response and my possible response before accusing me of pulling down people's beliefs?

I bought a house sometime around then. I can't remember exactly... hmm it was 2001 so I was 22. If you've been responsible enough to build up a 25% ish deposit by then I think you're probably responsible enough to be able to decide what to do with your own money.

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I bought a house sometime around then. I can't remember exactly... hmm it was 2001 so I was 22. If you've been responsible enough to build up a 25% ish deposit by then I think you're probably responsible enough to be able to decide what to do with your own money.

Did I suggest that he isn't? What's wrong with you today? First you bite Count of Nowhere's head off over an EA ancedotal, then get all pissy over my innocuous question.

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I am not at all optimistic. I am 66 years old and have lived in 'interesting times'

The greatest problem to my mind is not politics, capitalism etc.

Its PEOPLE.

Even well educated ones still exhibit herd mentality. The truisms in that old work 'Popular delusions and the madness of crowds' still hold true.

Kirtsy Allsopp for instance is an example of a well educated complete idiot. Worse still, the TV producers, David Cameron and the whole Conservative party cannot see this, not only for Allsopp but all the other similar but less well known fools.

How can intelligent people believe that a commodity can rise in value, above the rate of inflation for ever?

Yet they do.

There are no signs of anything to be optimistic about.

Take War for instance.

What other species deliberately sacrifices is best for no real purpose.

My Father's destroyer was sunk by a U-Boat during the war. Forty years later, a stained glass window was erected in the ship's honour in a church.

Guest of honour was the U-Boat captain. It just does not make sense,

The problem is PEOPLE.

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Did I suggest that he isn't? What's wrong with you today? First you bite Count of Nowhere's head off over an EA ancedotal, then get all pissy over my innocuous question.

Haha sorry I'm probably still grumpy about getting generally smashed from every side yesterday on the banking stuff.

Fair call. Go about your biz :)

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I am neither bull or bear, but I do agree with what you say. You can take the view that without all of the information taken from a site like this you would have less 'knowledge' but who says that the knowledge is relevant, has everything become true?? Of course the other view is that without the knowledge you would be blissfully unaware of certain things and would be getting on with you life, either in a house, travelling the world what ever which i am beginning to think that taking the blissfully unaware approach is far better, afterall one thing we have all learned is it is those that will be protected by the state and by the system.

I guess the extent of how depressing you make this site, depends if you take everything as gospel or at face value.

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