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eric pebble

If You Want To Hear About Reality - Listen To This.

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LISTEN TO THE AWFUL TRUTH ABOUT WHERE WE ARE - AND WHAT THE REAL SITUATION IS. VERY, VERY SOBERING.

http://jonathandaviswm.com/jonathan-davis-media/359/

Eric,

he starts off by talking about the hyper-inflation being caused by the 1920's debt bubble. He is a bit confused here, the famous hyper-inflation was in Germany in 1923. A lot of that was caused by zealous reparations foisted on Germany by the allies.

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He is a bit confused here, the famous hyper-inflation was in Germany in 1923. A lot of that was caused by zealous reparations foisted on Germany by the allies.

That was not true. That was just one of the many reasons put forward at the time to excuse away an inflation that was due exclusively, as usual, to money printing and unrestrained credit creation.

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Powerful stuff from JD. Some good points.

I thought Miss Piggy (no offence mam), whatshername was good.

This should be played at school assemblies! :lol:

How do you solve a debt problem, with more debt!! Political expediency and the greed of the powerful win every time.

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LISTEN TO THE AWFUL TRUTH ABOUT WHERE WE ARE - AND WHAT THE REAL SITUATION IS. VERY, VERY SOBERING.

http://jonathandaviswm.com/jonathan-davis-media/359/

He's quite right of course but I don't think we'll default in the way he indicated. It's pretty clear to me that the authorities are looking at a "soft" default by way of inflation rather than a "we can't pay so there" default. Personally I don't think this will work and, at some stage, we are indeed going to have to confront reality.

As some on this board may have pointed out the plans published by the OBR see part of our salvation as being consumption and imply another £300bn to be added to debt levels to achieve this and, to me, this is madness.

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so a HPC here in the Uk after 2015 ?

Youve been in a HPC since 2007, he is talking about an economic crash, i dont think outside of those people with a mortgage too many will actually care about houseprices at such time should it arise, quite alot will probably be more preoccupied with watching their pension accruals go up in smoke, their investments going up in smoke,their lifetime business investments going the same way, their saving disappear in devaluation and their employment disappearing. i think hes nailed it regarding the importance of the UKs longer term debt maturity, its pivotal (merv gave the UK a chance above every other country when he took it out in 2008 before the heart of the banking crisis). The weak politicans continue to pish that chance away

Edited by georgia o'keeffe

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LISTEN TO THE AWFUL TRUTH ABOUT WHERE WE ARE - AND WHAT THE REAL SITUATION IS. VERY, VERY SOBERING.

http://jonathandaviswm.com/jonathan-davis-media/359/

Strangely, I enjoyed that. Reminded me of the old HPC.

He speaketh the truth and it was nice for him not to be rushed or put down as a loon.

I feel we have 18 months, max 2 years to position ourselves for what is coming.

Well done Jonathan.

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All this borrowing. Who is doing the lending? And how come everybody seems to be borrowing like mad but there's countries out there still able to lend gargantuan amounts? Anyone know?

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That was not true. That was just one of the many reasons put forward at the time to excuse away an inflation that was due exclusively, as usual, to money printing and unrestrained credit creation.

It was both. The US allowed them to pay the reparations with US issued credit.

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Strangely, I enjoyed that. Reminded me of the old HPC.

He speaketh the truth and it was nice for him not to be rushed or put down as a loon.

I feel we have 18 months, max 2 years to position ourselves for what is coming.

Well done Jonathan.

what do you suggest?

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It was both. The US allowed them to pay the reparations with US issued credit.

The US repatriations werent the ones that were penal (they were being killed by the particularly penal level of french repatriations of which the french werent willing to give an inch (which is fair enough i suppose under the circumstances ) when it was clear that the severity of them was too destructive, despite a number of countries that were also being repatriated pretty much pleading for more understanding from France

Edited by georgia o'keeffe

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The US repatriations werent the ones that were penal (they were being killed by the particularly penal level of french repatriations of which the french werent willing to give an inch (which is fair enough i suppose under the circumstances ) when it was clear that the severity of them was too destructive, despite a number of countries that were also being repatriated pretty much pleading for more understanding from France

You mean reparations asked for after the war funded by (largely jewish bankers) credit creation in the 1910's?

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Great performance on News 24 JD, but disagree with much of this interview.

Likening UK to Greece or Ireland, constrained by the forced deflation by Germany isn't valid.

Further, projecting 20-30 years hence based upon debt built up during a period of mercantilism by China in particular is unlikely to be valide either.

Lastly, public sector debt is effectively a wealth flow to the private sector which will reverse over time. For every liability there's an asset and so on.

This entire 'debt' thing is dramatically overblown.

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It was both. The US allowed them to pay the reparations with US issued credit.

Plus, there was a relatively weak central government that would not stand up to the big industrials and landowners and tax them properly, hence the huge budget deficits and hence borrowing/printing..

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This entire 'debt' thing is dramatically overblown.

Hell, what the heck, the 'debt thing' only nearly brought down capitalism - storm in a teacup obviously! :ph34r:

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what do you suggest?

I can and will only speak for myself.

I STR in August 2007 (Peak). Bought back in December 2008 at 33% off asking. I am looking at protecting what I have and if that means STR again or downsizing, so be it.

Trying to save a reserve of cash to tide us over for a period of time should I lose my safe job.

People may want to consider long term fixes on mortgages in about a years time. Beefing up security at home. Start growing your own fruit and veg. Buy Baked beans in bulk :lol: Who knows???

Depends on what your views are. I think a shit storm is slowly brewing.

Edited by Bosh

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Vanessa Feltz is Jewish and highly strung at the best of times (remember her going loopy in the Big Brother house?) Any mention of the 1930s making a come-back would send her over the edge big time. :lol:

...speaking as a fully-fledged nationalist, you understand. ;)

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Well the number one elephant in the room he pointed at IMO was the last thing he said, we only think we had economic growth in the last decade because we were borrowing and spending, the illusion covered not only us not having any real wealth but all the time we spent the illusion it was making us poorer, we still haven't woken up to the fact that debt never was wealth debt is POVERTY. This single unpalatable truth needs implanting in the national psyche: until we are out of debt WE ARE POOR. Until that has been accepted it's no wonder people object to cutting spending all our spare money on lovely public services.

Edited by athom

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Well the number one elephant in the room he pointed at IMO was the last thing he said, we only think we had economic growth in the last decade because we were borrowing and spending, the illusion covered not only us not having any real wealth but all the time we spent the illusion it was making us poorer, we still haven't woken up to the fact that debt never was wealth debt is POVERTY. This single unpalatable truth needs implanting in the national psyche: until we are out of debt WE ARE POOR. Until that has been accepted it's no wonder people object to cutting spending all our spare money on lovely public services.

This is correct. If you subtract debt growth from GDP growth to get real growth you will see that it has been negative since the year 1998. I worked out the numbers back in 2008.

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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
      • up 2.5%
      • up 5%



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