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eric pebble

Is it all going to happen again?????

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We were ` told` that it couldn't be allowed to happen, but what do you financially aware members of HPC think would have really happened if the Govt had allowed free-market economics to have taken place, and not bailed out the banks?

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I just gotta say, I really enjoyed listening to How soon is Now, right after watching the Paul Mason Piece.

"See, I've already waited too long...
And all my hope is gone..."


When Cameron said he was a fan of the Smiths - i think he was imagining me reflecting on these lyrics.

 

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11 hours ago, MrXxx said:

We were ` told` that it couldn't be allowed to happen, but what do you financially aware members of HPC think would have really happened if the Govt had allowed free-market economics to have taken place, and not bailed out the banks?

If a few were allowed to go under (and if others had survived), then they wouldn't be so reckless. Lender of last resort means they are happy to taken the risk as they know they'll be bailed out. 

The interesting question is what will they do if it happens again. Changing it so the banks legally own your money when you deposit it suggests they are entertaining the idea of bail ins. 

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Don't most financial crises have a forerunning before the biggie??  After the first crisis there is a back to normal delusion phase before the main behaviour changing crisis.  Look at the railway mania for example..?

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It's always good to hear a bit of the Smiths and I'd peg Ca-moron as a liar rather than a Smiths fan..

Not watched the vid but I'd say it's pretty much a certainty eventually, since the government have done nothing to reign in reckless bankers having done everything to bail them out of the consequences of their greed and irresponsibility last time.

It's becoming more and more overtly obvious that the economy is sliding towards the abyss once again (having been on no-holds-barred life support for the last 10 years) and no doubt the banks are balls-deep in this mess as usual. Only a matter of time IMO.

It's going to be interesting to see how everything fares in the bleak first few months of 2018 and things really start to bite in the post-Chrismas spending vacuum..

 

Edited by ftb_fml

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39 minutes ago, ftb_fml said:

It's going to be interesting to see how everything fares in the bleak first few months of 2018 and things really start to bite in the post-Chrismas spending vacuum..

This is what I have been thinking for a while now.  Boxing day sales were down apparently but I don't think it can all be blamed on Black Friday.  The New Year will be very interesting.....

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5 hours ago, Freezer? Best place for it said:

That, or he is a liar.  Oh....

That’s right - remember him trying to say which football team he supported? Aston Villa. No, wait...that wasn’t it...

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18 hours ago, HowMuch! said:

I thought the banks have had access to free money every since...

Law has also been changed now to allow any future bailouts and BoE support to be done in secret. There will be no publicity or announcements about what is going on this time.

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1 hour ago, Errol said:

Law has also been changed now to allow any future bailouts and BoE support to be done in secret. There will be no publicity or announcements about what is going on this time.

I know such a law was passed.  Just when was that? And isn't transparency the relevant mantra, until you want secrecy?

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Eric, I know you have been consistent in your criticism of the immorality of liar loans and so on for many a long year. Beyond reproach for this forum

But if you knew we were headed for another ten years of price inflation, would you jump on board?

(I'm not suggesting that is probable).  

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1 hour ago, Errol said:

Law has also been changed now to allow any future bailouts and BoE support to be done in secret. There will be no publicity or announcements about what is going on this time.

Can you remind me what law has changed? I seem to have forgotten and Google has let me down.

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7 hours ago, dougless said:

This is what I have been thinking for a while now.  Boxing day sales were down apparently but I don't think it can all be blamed on Black Friday.  The New Year will be very interesting.....

I think you are right

 

Quote

 

The £8.5bn Xmas debt burden

One in four families will start 2018 with a monster credit card bill after putting  Christmas on plastic. Half of those with credit card debts believe they will still be paying it off next Christmas. Meanwhile one in ten are still grappling with their bills from Christmas 2016.

In total, uSwitch estimates that Britain will have a £8.5 billion credit card debt hangover going into the New Year. The findings come amid fears that interest rate hikes next year could plunge thousands of families into financial crisis.   thisismoney

 

 

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  • 406 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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