Cptkernow Posted March 22, 2008 Share Posted March 22, 2008 Its the Mirror wot crashed it. Looks at 1929 and compares it to today. Quote Link to comment Share on other sites More sharing options...
Optobear Posted March 22, 2008 Share Posted March 22, 2008 Mirror is simply following the party line and trying to get it firmly placed in people's minds that it is all America's fault (on the way down). Can't see that lie working. THe US house prices were far lower as a proportion of incomes. Also the US produces oil, grows most of its own food, makes cars, etc. So with a fallen dollar, the Americans will get on with their lives, not buying so many BMWs, putting up with US food, but they will get on with recovery. Their lack of a social security system will make things very painful for lots of people, but they'll certainly get off their ar$es to go out and earn some money. The UK will fall further, harder, but the crash won't be as painful for most. No one will starve, or even suffer much hardship. People will feel much poorer, as the weakened pounds causes imported goods and food to soar in price. The import prices will kill our standard of living. The economy will take ages to recover. In three year's time the contrast to the US (who'll be recovering while we're still arguing about accepting a low offer on our houses) will be immense, and we'll know who to blame. Quote Link to comment Share on other sites More sharing options...
gravity always wins Posted March 22, 2008 Share Posted March 22, 2008 Between 1924 and 1929 the New York stock market quadrupled in value, fuelled largely by share dealing funded with borrowed cash It's different this time ..................it's houses. Quote Link to comment Share on other sites More sharing options...
expatowner Posted March 22, 2008 Share Posted March 22, 2008 Its the Mirror wot crashed it. Only when The Sun has "House Price Crash" on the front page will there be a crash. Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 22, 2008 Share Posted March 22, 2008 (edited) not buying so many BMWs BMW has a factory in USA that produces many BMWs sold there. I think all Z3's were made in USA - not sure about Z4's though. Edited March 22, 2008 by Sofa Spud Quote Link to comment Share on other sites More sharing options...
juvenal Posted March 22, 2008 Share Posted March 22, 2008 Its the Mirror wot crashed it.Looks at 1929 and compares it to today. Did everyone see the 'Want to Make Money in Property?' link on the same page?.. Quote Link to comment Share on other sites More sharing options...
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