Jump to content
House Price Crash Forum
North London Rent Girl

Radio 4 Cassandras of the Crash

Recommended Posts

Did anyone else catch this on Wednesday? Couldn't see it in posts. Ten years on, the BBC actually speaks to the people who saw the crash coming - no disrespect to the presenter, I should think whoever got this on air had to work their socks off. It's a bit of a weird experience to hear the stuff you normally look up on youtube on the BBC, can't quite put it into words. Definitely good listen.

Cassandras of the Crash

Share this post


Link to post
Share on other sites
16 minutes ago, North London Rent Girl said:

Did anyone else catch this on Wednesday? Couldn't see it in posts. Ten years on, the BBC actually speaks to the people who saw the crash coming - no disrespect to the presenter, I should think whoever got this on air had to work their socks off. It's a bit of a weird experience to hear the stuff you normally look up on youtube on the BBC, can't quite put it into words. Definitely good listen.

Cassandras of the Crash

I put a link up a couple of day ago. Peter Schiff, Steve Keen, Ann Pettifor and Raghuram Rajan are the guests. Their warnings were ignored before the Crash and then dismissed after it. Incredible, but true.

Share this post


Link to post
Share on other sites
2 hours ago, zugzwang said:

I put a link up a couple of day ago. Peter Schiff, Steve Keen, Ann Pettifor and Raghuram Rajan are the guests. Their warnings were ignored before the Crash and then dismissed after it. Incredible, but true.

Don't know about anyone else, but from the late 1990's onwards, I saw house "prices" were just going up and up and up, and I just couldn't work it out. THEN -- I started to hear about all sorts of friends and other people I knew of were being persuaded to LIE about their incomes on their mortgage application forms - to FRAUDULENTLY raise the "money" to pay for the ever increasing "prices".  I REALISED then that it was a viscious circle of dishonesty - a viscious spiral of ever increasing debt -  one in which the ever increasing lending was leading to ever increasing "prices" - it was [and is] highly inflationary -- and I saw how EVERYONE HAD TO LIE TO KEEP UP.  THIS IS WHAT PREDATORY LIAR LOANS ARE.  THEY ARE THE FUEL AND THE WEAPON OF MASS DESTRUCTION.  AND ALL LOANS/MORTGAGES TODAY ARE JUST THAT - THEY ARE PREDATORY LIAR LOANS  - THEY ARE LIES.  THEY ARE UTTERLY, UTTERLY INSANE - AND UNSUSTAINABLE. THEY ARE TOTALLY UNAFFORDABLE. THE AGE OLD RULE OF 3 X INCOME WAS THERE - BECAUSE IT IS THE ABSOLUTE TEST OF AFFORDABILITY.  AND MORTGAGES TODAY - OF 2 PEOPLES' INCOMES X 6, 7, 8, 9, 10, 11 etc etc. - AND ENDLESS LIES ABOUT THE ACTUAL FIGURES - IT'S ALL STILL GOING ON TODAY. THE POWERS THAT BE DON'T WANT TO FACE THE TRUTH.  WHAT ARE THE "INCOME"/PRICE RATIOS TODAY?  13 X?  14 X?   IT'S A SCANDAL!!!  IT'S A FARCE!!

THEN -- I saw that amazing BBC Money Programme about Mortgage Fraud --- 

 

AND -- I told EVERYONE I could -- it 's all going to lead to DISASTER.  I emphasized how it was a MASSIVE FRAUD -- and FRAUD ALWAYS leads to DISASTER.

Well.....  The rest is history.  What I'm saying here is -  I saw that there was something rotten in the system AGES before the Great Crash of 2008/9.  

And I now despair.  It is just SO DEPRESSING how people NEVER seem to learn.  It's all STILL going on to this day. NOTHING has changed.

Edited by eric pebble

Share this post


Link to post
Share on other sites
26 minutes ago, eric pebble said:

And I now despair.  It is just SO DEPRESSING how people NEVER seem to learn.  It's all STILL going on to this day. NOTHING has changed.

forget it and get on with your own life !

only think about what you can personally change 

Share this post


Link to post
Share on other sites
1 minute ago, happyguy said:

forget it and get on with your own life !

only think about what you can personally change 

Well yes -- but meanwhile  - the world falls all around us all - thanks to bent, dishonest banksters.  Why not do the simple thing - jail them and throw the keys away? 

Share this post


Link to post
Share on other sites
1 hour ago, eric pebble said:

Don't know about anyone else, but from the late 1990's onwards, I saw house "prices" were just going up and up and up, and I just couldn't work it out. THEN -- I started to hear about all sorts of friends and other people I knew of were being persuaded to LIE about their incomes on their mortgage application forms - to FRAUDULENTLY raise the "money" to pay for the ever increasing "prices".  I REALISED then that it was a viscious circle of dishonesty - a viscious spiral of ever increasing debt -  one in which the ever increasing lending was leading to ever increasing "prices" - it was [and is] highly inflationary -- and I saw how EVERYONE HAD TO LIE TO KEEP UP.  THIS IS WHAT PREDATORY LIAR LOANS ARE.  THEY ARE THE FUEL AND THE WEAPON OF MASS DESTRUCTION.  AND ALL LOANS/MORTGAGES TODAY ARE JUST THAT - THEY ARE PREDATORY LIAR LOANS  - THEY ARE LIES.  THEY ARE UTTERLY, UTTERLY INSANE - AND UNSUSTAINABLE. THEY ARE TOTALLY UNAFFORDABLE. THE AGE OLD RULE OF 3 X INCOME WAS THERE - BECAUSE IT IS THE ABSOLUTE TEST OF AFFORDABILITY.  AND MORTGAGES TODAY - OF 2 PEOPLES' INCOMES X 6, 7, 8, 9, 10, 11 etc etc. - AND ENDLESS LIES ABOUT THE ACTUAL FIGURES - IT'S ALL STILL GOING ON TODAY. THE POWERS THAT BE DON'T WANT TO FACE THE TRUTH.  WHAT ARE THE "INCOME"/PRICE RATIOS TODAY?  13 X?  14 X?   IT'S A SCANDAL!!!  IT'S A FARCE!!

And the only way of keeping it going now is to sacrifice the purchasing power of the £ so that mortgage rates can remain ultra low, and to throw taxpayer's money at it with HTB and other props.

Share this post


Link to post
Share on other sites
1 hour ago, eric pebble said:

Well yes -- but meanwhile  - the world falls all around us all - thanks to bent, dishonest banksters.  Why not do the simple thing - jail them and throw the keys away? 

Who gave the banksters the authority to act the way they did, the way they do.....;)

Share this post


Link to post
Share on other sites
On 21/09/2018 at 10:46, zugzwang said:

I put a link up a couple of day ago. Peter Schiff, Steve Keen, Ann Pettifor and Raghuram Rajan are the guests. Their warnings were ignored before the Crash and then dismissed after it. Incredible, but true.

Bigger, sorry zz, did look, something up with my looking skills these days.

Share this post


Link to post
Share on other sites
On ‎21‎/‎09‎/‎2018 at 13:15, eric pebble said:

Don't know about anyone else, but from the late 1990's onwards, I saw house "prices" were just going up and up and up, and I just couldn't work it out. THEN -- I started to hear about all sorts of friends and other people I knew of were being persuaded to LIE about their incomes on their mortgage application forms - to FRAUDULENTLY raise the "money" to pay for the ever increasing "prices".  I REALISED then that it was a viscious circle of dishonesty - a viscious spiral of ever increasing debt -  one in which the ever increasing lending was leading to ever increasing "prices" - it was [and is] highly inflationary -- and I saw how EVERYONE HAD TO LIE TO KEEP UP.  THIS IS WHAT PREDATORY LIAR LOANS ARE.  THEY ARE THE FUEL AND THE WEAPON OF MASS DESTRUCTION.  AND ALL LOANS/MORTGAGES TODAY ARE JUST THAT - THEY ARE PREDATORY LIAR LOANS  - THEY ARE LIES.  THEY ARE UTTERLY, UTTERLY INSANE - AND UNSUSTAINABLE. THEY ARE TOTALLY UNAFFORDABLE. THE AGE OLD RULE OF 3 X INCOME WAS THERE - BECAUSE IT IS THE ABSOLUTE TEST OF AFFORDABILITY.  AND MORTGAGES TODAY - OF 2 PEOPLES' INCOMES X 6, 7, 8, 9, 10, 11 etc etc. - AND ENDLESS LIES ABOUT THE ACTUAL FIGURES - IT'S ALL STILL GOING ON TODAY. THE POWERS THAT BE DON'T WANT TO FACE THE TRUTH.  WHAT ARE THE "INCOME"/PRICE RATIOS TODAY?  13 X?  14 X?   IT'S A SCANDAL!!!  IT'S A FARCE!!

THEN -- I saw that amazing BBC Money Programme about Mortgage Fraud --- 

 

AND -- I told EVERYONE I could -- it 's all going to lead to DISASTER.  I emphasized how it was a MASSIVE FRAUD -- and FRAUD ALWAYS leads to DISASTER.

Well.....  The rest is history.  What I'm saying here is -  I saw that there was something rotten in the system AGES before the Great Crash of 2008/9.  

And I now despair.  It is just SO DEPRESSING how people NEVER seem to learn.  It's all STILL going on to this day. NOTHING has changed.

and still the houses are more than 6 times the average wage in London 15 years later, that 60% of a 25 year mortgage

Share this post


Link to post
Share on other sites
Guest
On 21/09/2018 at 13:15, eric pebble said:

AND -- I told EVERYONE I could -- it 's all going to lead to DISASTER.  I emphasized how it was a MASSIVE FRAUD -- and FRAUD ALWAYS leads to DISASTER.

But the thing is despite the limp recession we had post 2008, people did get away with it and profit. OK, maybe that hit is still to come, but everyone I knew that took out a liar loan profited greatly, it sickens me still and was a big mistake on my part not to take one out , crime DOES pay

Share this post


Link to post
Share on other sites
7 hours ago, hurlerontheditch said:

and still the houses are more than 6 times the average wage in London 15 years later, that 60% of a 25 year mortgage

There's another four million people looking for a home.

Stop-Poster-640x480.png

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 144 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.