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Bruce Banner

Most people don't trust themselves to make their own decisions.

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In an ideal world you'd expect lenders to set sensible limits, as they're the ones exposed to the risk.

Except of course that they AREN'T the ones exposed, as the government proved in 2008 that it in fact will bail them out.

Therefore the government are the ones taking the risk, so I think the young people are right - the government SHOULD set limits.

 

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12 hours ago, scottbeard said:

In an ideal world you'd expect lenders to set sensible limits, as they're the ones exposed to the risk.

Except of course that they AREN'T the ones exposed, as the government proved in 2008 that it in fact will bail them out.

This is not the lesson of 2008. In fact 2008 was epiphenomenal.

The key here is promises and the unknown future. When a lender makes or declines a loan there are consequences; if the loan is made then in the here and now the money is real. Only time will tell if the promises or the lender's ability to assess the value of the promises was on the money (pun intended).

The lenders, borrowers and government are all interlinked. Everyone is making it up as they go along.

Really this story is just 'Borrowers admit they don't know what they are doing'. Guess what - the lenders are also improvising and so are the regulators.

Much conspiracy theory is predicated on a delusional fantasy of some malign influence who is in control. Conspiracy theory is a gateway drug on the road to the adult realisation that nobody is in control but nevertheless we can live lives, carry out our work, raise our families, enjoy our hobbies and generally revel in the life that was there for the taking.

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2 hours ago, Beary McBearface said:

This is not the lesson of 2008. In fact 2008 was epiphenomenal.

The key here is promises and the unknown future. When a lender makes or declines a loan there are consequences; if the loan is made then in the here and now the money is real. Only time will tell if the promises or the lender's ability to assess the value of the promises was on the money (pun intended).

The lenders, borrowers and government are all interlinked. Everyone is making it up as they go along.

Really this story is just 'Borrowers admit they don't know what they are doing'. Guess what - the lenders are also improvising and so are the regulators.

Much conspiracy theory is predicated on a delusional fantasy of some malign influence who is in control. Conspiracy theory is a gateway drug on the road to the adult realisation that nobody is in control but nevertheless we can live lives, carry out our work, raise our families, enjoy our hobbies and generally revel in the life that was there for the taking.

"Conspiracy theory is a gateway drug on the road to the adult realisation that nobody is in control"

When you realise that leaders of medium sized organisations are pretty clueless and have limited control as to the actual goings on in their community you realise conspiracy theories are just that. No-one or group could have the degree of control needed to make them work.

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1 hour ago, desertorchid said:

"Conspiracy theory is a gateway drug on the road to the adult realisation that nobody is in control"

When you realise that leaders of medium sized organisations are pretty clueless and have limited control as to the actual goings on in their community you realise conspiracy theories are just that. No-one or group could have the degree of control needed to make them work.

So 250,000 to 400,000 people working together to land a man on the moon in under a decide is actually impossible? cool 

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If lenders actually had their balls on the line :o, things would be very different.

If borrowers and taxpayers were better educated, things would be very different.

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Nah.

70% of UK adults dont understand percentages.

90% dont grasp compounding - the pros (investing) and cons (borrowing).

Its the future unknown bit messes up most financial planning.

Take the high priest of investing/money - an actuary.

Their job comes down to two numbers - how long will I live? How much will my investments earn?

20 years ago, they were the kings of the UK life insurers.

Today, most LI are dead, dying, automated and restricted to just pure LI for dying before 65.

There are reasons for LI death other than actuaries being carp - mainly with profits was a massive con/ponzi.

 

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8 hours ago, Beary McBearface said:

This is not the lesson of 2008. In fact 2008 was epiphenomenal.

The key here is promises and the unknown future. When a lender makes or declines a loan there are consequences; if the loan is made then in the here and now the money is real. Only time will tell if the promises or the lender's ability to assess the value of the promises was on the money (pun intended).

The lenders, borrowers and government are all interlinked. Everyone is making it up as they go along.

Really this story is just 'Borrowers admit they don't know what they are doing'. Guess what - the lenders are also improvising and so are the regulators.

Much conspiracy theory is predicated on a delusional fantasy of some malign influence who is in control. Conspiracy theory is a gateway drug on the road to the adult realisation that nobody is in control but nevertheless we can live lives, carry out our work, raise our families, enjoy our hobbies and generally revel in the life that was there for the taking.

Its both these.

Anyone who follows the finances pages can read off a long list of loan shark companies that have blown up -  Yes finance, the Provident Finance  - this years share price graph shows how well a FTSE100 company stuffed full of v. expensive lawyers, advisers and managers 'understand' finance.

Lending money to people without a pot to p1ss in is a mugs game.

Borrowing money without a reasonably well paying income  is also a mugs game.

Maybe their needs  to be more an easier framework, to protect both sides:

- Credit should only be lent to people with an earned income of more than 15k.

Poof! Most of the scum finance disappears!

Yes, I know BigDave will still be on the scene.

 

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  • 295 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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