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Stephanie Flanders: "we Made Clear That The Housing Market Was Overvalued And The Bubble Would Inevitably Burst"

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I was told he bought a house. But I don't know when exactly. Between 2004 and 2009.

So he was complicit in increases in house prices so the younger generation would be priced out?

I'm guessing he doesn't (didn't) care.

Does he have a family by the way?

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Isaac Newton got caught up in the South Sea Bubble. It may sound trite, but if the man who discovered gravity didn't know that things go down as well as up...

IIRC Newton did spot it, but sold out early and then bought back in just before it all went really badly wrong. Maybe someone can correct me on this.

And Newton was a physical scientist, not an economist or economic commentator, who ought to know better.

The most exasperating thing about this was that in the case of houses, we had in very recent memory come out of an HPC, the trough of which was what, around 3 years before New Labour came to Power? That ought to have ensured that things were put in place to prevent mortgages of over 100% LTV (yes, we saw those in the 80s), and LTVs over 4 x Income.

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I think his preferences are "interesting" to say the least.

Didn't "interesting" used to be illegal??

........ a few more years and it'll probably be compulsory.

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IIRC Newton did spot it, but sold out early and then bought back in just before it all went really badly wrong. Maybe someone can correct me on this.

And Newton was a physical scientist, not an economist or economic commentator, who ought to know better.

The most exasperating thing about this was that in the case of houses, we had in very recent memory come out of an HPC, the trough of which was what, around 3 years before New Labour came to Power? That ought to have ensured that things were put in place to prevent mortgages of over 100% LTV (yes, we saw those in the 80s), and LTVs over 4 x Income.

Exactly! By a huge coincidence, in the days before she gave this interview I had been posting about the failure of the BBC editors in this area to transmit to the general population the warnings about the bubble coming form experts and the specialised media.

Just 1 day before Flanders interview I even started a thread on it. Here: http://www.housepricecrash.co.uk/forum/index.php?showtopic=159795&view=findpost&p=2900466

By a huge coincidence she comes with this infuriating lie, yes, lie. There is no other word for it. Unless she is also going Brown's way: bonkers!

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Flanders has failed to warn the UK population of the biggest and most obvious credit bubble in British history.

And I'm quite sure she knows that.

She has failed in her job, and she knows it.

She couldn't give a t*ss.

She's earning over £50k a month.

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Really, Stephanie? Really?? Because I've been reading HPC, the BBC and your articles / blog for YEARS and I feel like I don't remember you saying anything of the sort.

And I know it's been repeated but... hey...

Such insight.

:lol::lol::lol::lol:

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.....have a guess.

I really don't know. And if you are referring to his personal preferences, he can always adopt. BTW people, his private life is totally irrelevant here. Only his financial interests are relevant, specially regarding property ownership.

The important point here is that he, Flanders and Peston failed in his duty of informing the UK population of a huge crisis, mounting 9and obvious) for at least 5 years.

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I really don't know. And if you are referring to his personal preferences, he can always adopt. BTW people, his private life is totally irrelevant here. Only his financial interests are relevant, specially regarding property ownership.

The important point here is that he, Flanders and Peston failed in his duty of informing the UK population of a huge crisis, mounting 9and obvious) for at least 5 years.

+1.

Both bits.

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I think his preferences are "interesting" to say the least.

If only that Jonny Wilkinson look-alike Paddles was still here.

He would tell you his BBC nickname was "Tinsel-Tits".

PS, what happened to Paddles? I seem to recall he went to "the other place"?

Edit to add: "He would tell you" is obviously not meant to say that was actually Evan Davies' nickname, bit like adding "allegedly" in there.

Edited by bobthe~

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Flanders: "Evan Davis and I both say that we felt like we'd done a lot of pieces making clear that the housing market was overvalued and the bubble would inevitably burst. But against our couple of minutes on the Ten O'Clock News you had hours and hours of house porn, Relocation, Relocation and the general, society-wide boom.

To be fair, it's a reasonable point.

ED, SF & RP could have been uber-bearish mentalists and their occasional 2 minutes slots wouldn't have made a blind bit of difference next to the hours and hours of VI propaganda.

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To be fair, it's a reasonable point.

ED, SF & RP could have been uber-bearish mentalists and their occasional 2 minutes slots wouldn't have made a blind bit of difference next to the hours and hours of VI propaganda.

First, it was their duty: journalism in democracies, BBC charter, license fee, etc.

Second, I am quite sure they would have had a very strong influence. The BBC is highly respected (God knows why, but they are), by millions. Have you seen those The Economist articles in my other thread? They were incontestable. Plenty of irrefutable data there. "ED, SF & RP" failed to transmit and translate that info to the general population. Consequently they were amongst the main responsible for our political-economic failure. Britain behaved like a banana republic. And their / BBC incompetence and/or complicity was a major part of it.

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Here's a quick puzzle for Steph. It's a quick english language quiz, so being a top whizz financial journalist, she should score well. See how well others here can do.

Q: How many different ways can you add apostrophes and the letter 'S' to the following statement without it losing any of its validity? All possible meanings of all words are allowed, as are plurals.

"I AM ED BALLS MOUTHPIECE"

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They're still not getting it. I made my first 20% off offer a couple of weeks ago (slightly more than the buyers paid in 2003) and got my nasty reply back today. God I hate estate agents, could you do something about them please.

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Anybody found any warnings from Flanders yet?

Maybe we should e-mail her and ask for the links.

:)

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Anybody found any warnings from Flanders yet?

Maybe we should e-mail her and ask for the links.

:)

Maybe we should e-mail her and ask my question!

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Here's a quick puzzle for Steph. It's a quick english language quiz, so being a top whizz financial journalist, she should score well. See how well others here can do.

Q: How many different ways can you add apostrophes and the letter 'S' to the following statement without it losing any of its validity? All possible meanings of all words are allowed, as are plurals.

"I AM ED BALLS MOUTHPIECE"

Oh go on then...If nobody else will have a go....

I AM ED's BALLS' MOUTHPIECE...... 1 POINT

I AM ED BALLS' MOUTHPIECE..........1 POINT

I AM ED's BALLS'S MOUTHPIECE......1 POINT

I AM ED's' BALLS'S's MOUTHPIECE......1 POINT

I GOBBLED OFF HALF THE PEOPLE WHO ******ED UP THE COUNTRY AND NOW I TELL PEOPLE I SAW THEIR MESS COMING!

Oh Bugger.....I broke the rules didn't I?

Edited by sbn

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IIRC Newton did spot it, but sold out early and then bought back in just before it all went really badly wrong. Maybe someone can correct me on this.

And Newton was a physical scientist, not an economist or economic commentator, who ought to know better.

The most exasperating thing about this was that in the case of houses, we had in very recent memory come out of an HPC, the trough of which was what, around 3 years before New Labour came to Power? That ought to have ensured that things were put in place to prevent mortgages of over 100% LTV (yes, we saw those in the 80s), and LTVs over 4 x Income.

Page 5 of 'Part 2' - page 10 in the PDF. There's even a chart which has a credit to Faber.

http://www.gmo.com/websitecontent/JGLetter_PavlovsBulls_4Q10.pdf

Since this is Grantham's latest quarterly newsletter it might suggest Ms Flanders read it (or read Faber). She may also have read then that Grantham says "We are still waiting for the abberant UK and Aussie housing bubbles to break. And one day they will". Perhaps Grantham was inspired by Flanders (?).

He's studied 34 bubbles and all 34 have burst back to trend.

Average time blowing up is 3.5 years. Avge time bursting is 3 yrs. So you'll have to figure out where we are in the UK bust (and also by extension where we were when it started blowing up and thus where the 'back to trend' will be or the -1 std deviation 'cheap'. This article has been posted on here many times but you can see for the US housing bubble he uses the ratio of median house prices to median family income.

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Here's a quick puzzle for Steph. It's a quick english language quiz, so being a top whizz financial journalist, she should score well. See how well others here can do.

Q: How many different ways can you add apostrophes and the letter 'S' to the following statement without it losing any of its validity? All possible meanings of all words are allowed, as are plurals.

"I AM ED BALLS MOUTHPIECE"

:lol:

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Well I am going to put the cat amongst thy pigeons here...

Stephanie F DID spot the problem in the autumn of 2003, in a slot she did on - would you believe it - liar loans!

I remember watching it with my then girlfriend, now wife. It was a piece on the dangers of self-cert mortgages, and the FSA failure to investigate them properly.

There is a possibility that this was Oct 2004, not 2003... either way, SF could have nailed the bubble. Sadly, she didn't stick to a "there's too much irresponsible lending" line and the rest is history...

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Well I am going to put the cat amongst thy pigeons here...

Stephanie F DID spot the problem in the autumn of 2003, in a slot she did on - would you believe it - liar loans!

I remember watching it with my then girlfriend, now wife. It was a piece on the dangers of self-cert mortgages, and the FSA failure to investigate them properly.

There is a possibility that this was Oct 2004, not 2003... either way, SF could have nailed the bubble. Sadly, she didn't stick to a "there's too much irresponsible lending" line and the rest is history...

Evan Davies was also better in the early noughties. Then he bought a house, and went soft. Coincidence?

I wonder is Flanders also bought a house in the mid-noughties.

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Well I am going to put the cat amongst thy pigeons here...

Stephanie F DID spot the problem in the autumn of 2003, in a slot she did on - would you believe it - liar loans!

I remember watching it with my then girlfriend, now wife. It was a piece on the dangers of self-cert mortgages, and the FSA failure to investigate them properly.

There is a possibility that this was Oct 2004, not 2003... either way, SF could have nailed the bubble. Sadly, she didn't stick to a "there's too much irresponsible lending" line and the rest is history...

Wot? She spotted the Mammoth in the Room?

LIAR LOANS?

She probably watched that Writing on the Wall 2003 Documentary "Mortgage Madness" -- Which really was a MASSIVE premonition & Warning of Coming Disaster....

See below for all details... :rolleyes:

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  • 296 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
      • up 2.5%
      • up 5%



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