Jump to content
House Price Crash Forum
Sign in to follow this  
fofp

"devil Take The Hindmost" Author Comments

Recommended Posts

That is actually a good article - a god summary for those who want to understand more.

I like his closing paragraph - it is portentious, imho.

"I believe that something profound has happened in recent weeks. The credit system is losing its, well, credibility. People no longer trust the triple-A ratings that many complex debt securities carry. The risk models used by rating agencies, hedge funds and banks have also come under suspicion. The effects of subprime losses are being felt in unexpected places, including supposedly impregnable money market funds. Hedge funds and other highly leveraged investment vehicles are being forced to unwind. After years of excess, credit is beginning to contract.

There has been a "run on Wall Street finance," said Doug Noland, editor of the online Credit Bubble Bulletin.

But no one knows how long it will last, or where it will end"

Share this post


Link to post
Share on other sites
"Devil Take The Hindmost" is an excellent book on the history of speculation, definitely worth reading.

Chancellor writes for "The Economist", the WSJ, FT and New York Times, so you're getting top quality writing.

http://www.amazon.co.uk/Devil-Take-Hindmos...2584&sr=8-1

.....i'm reading this just now, it's great background material for a lot of the speculative bubbles that are discussed on here (yes, they always burst :P ). Got it through Amazon from Aphrohead books a few week ago, quick delivery and the book was as new.

Share this post


Link to post
Share on other sites
New....about a year ago.

Where have you been?!

"Ninja" -- Worrying - and so scary it's funny inn a weird sort of way...

More of this to come? UK "not affected" by sub-prime??

Telegraph: Solent Capital hit by sub-prime crisis

"According to Solent: "Current market volatility and lack of market liquidity with respect to sub-prime lending markets have caused adverse conditions with respect to the liquidity and market risk exposures on the company's underlying portfolio of assets."" :unsure::blink:

http://www.telegraph.co.uk/money/main.jhtm...cnsolent120.xml

Share this post


Link to post
Share on other sites
.....i'm reading this just now, it's great background material for a lot of the speculative bubbles that are discussed on here (yes, they always burst :P ). Got it through Amazon from Aphrohead books a few week ago, quick delivery and the book was as new.

So we have a guy who writes books about speculative bubbles appearing out the blue to say......this is a speculative bubble? No VI here - move on.

Share this post


Link to post
Share on other sites
Here's a great new term:

NINJA loans

"No Income, No Job and No Assets"

It's completely astonishing that anyone with an I.Q. at all could think that this would end happily. It's like 'lending' the drunk down the street a few bob, you know with concrete certainty you'll never see it again.

Share this post


Link to post
Share on other sites
It's completely astonishing that anyone with an I.Q. at all could think that this would end happily. It's like 'lending' the drunk down the street a few bob, you know with concrete certainty you'll never see it again.

Well put Eightiesgirl! Great way to state the way it is.... :blink::lol:

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 355 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • 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.