Anecdotal: Recession

Tassotti

dopester wrote: »

I thought you'd sold your property portfolio and now ran an informal money-lending crew?

Yeah anyway, like G-man says... the pain has hardly begun.

Did you read it...The 'remaining property I couldn't sell'?

I do own a loans company, and I am offended by your inflammatory remarks regarding my business. It is completely legit (unless they don't pay :rotfl:)

Tass

WTF?_2

Tassotti wrote: »

The only thing that caused the house correction is the credit crunch. Are you saying this has also affected the economy?

Banks loaned too much and too easily - primarily against property...

... Which shot up in value - enabling them to loan even more money, even more easily.

Eventually, people who borrowed cash failed to pay it back, US sub prime.

This caused a crisis in the global financial system which had bought this debt in large amounts ...

... which has contributed in making the house price crash so far particularly steep as mortgage products get withdrawn.

Because of the contraction of credit, we are now seeing real knock-on effects in retail, building and general business investment.

Still plenty of cash around in the markets however from all the money 'created' during the boom years plus hundreds of billions of government bailouts to the banks, which is helping inflate various commodity price bubbles and fuel inflation.

... which will of course exacerbate the increasingly dire economic situation even more.

Tassotti

[quote=!!!!!!?;13675179
Still plenty of cash around in the markets however from all the money 'created' during the boom years plus hundreds of billions of government bailouts to the banks, which is helping inflate various commodity price bubbles and fuel inflation.

... which will of course exacerbate the increasingly dire economic situation even more.[/quote]

Is that tongue-in cheek?

What are the new price bubbles? Please educate me as I am not a world economist (just a mere businessman)

Everyone seems to blame the BTL investor for all the problems.

What about petrol prices, food prices, utilitiy prices etc.. That must also be down to the housing market.

Gas/Elec just gone up 30% across the board. F.ucking BTLetters

dopester

Tassotti wrote: »

What are the new price bubbles?

In certain commodities. However I think most commodity prices will gradually deflate as well, but I'm undecided for the outcome for gold.

Tassotti

Please tell me your views for gold. .. I have had an investment in gold for quite a while.. I would appreciate your expertise.

However, by commodities, I mean essentials like gas, electric, water......blah blah blah

dopester

Tassotti wrote: »

Please tell me your views for gold. .. I have had an investment in gold for quite a while.. I would appreciate your expertise.

I don't have any expertise in gold - and I'm torn between arguments of it deflating or reaching extraordinary new heights. It all depends on whether the financial system can cope with the storms ahead, and what hand the politicians play (whether stubbornly trying to reinflate at all costs - or whether accepting deflation)

Except for I wouldn't buy it with any of those companies that supposedly "hold it" for you. I can understand a physical gold holding being reassuring to some people - and if that is true for you - then fair play to you. Keep it safe.

Tassotti

Alas, can you tell me your expertise in property?

I have had an investment in property for quite a while.

Could you tell me your expertise?

From what I gather, you have no money invested in either market, but like to have a go at people who have.

OK you might have read a few books regarding investment, but, until you have been there, why don't you shut up!!!

Tass

Microstar_2

Tassotti wrote: »

The only thing that caused the house correction is the credit crunch.

No it wasn't.

Are you saying this has also affected the economy?

Erm, just a bit..:rolleyes:

..................

dopester

Tassotti wrote: »

Alas, can you tell me your expertise in property?

I have had an investment in property for quite a while.

Could you tell me your expertise?

From what I gather, you have no money invested in either market, but like to have a go at people who have.

OK you might have read a few books regarding investment, but, until you have been there, why don't you shut up!!!

Tass

Oh you're not still worked up because you think I implied you were a backstreet moneylending peddler are you? :rotfl:

I won't "shut-up" because you deem me to have little financial experience and to be some sort of peasant because you've run a property portfolio during the last 11 years when people couldn't really lose on their "property investments".

Not when you come here and make ridiculous statements such as if it wasn't for this little credit-crunch then property prices wouldn't be affected. And childish maybe.. but you are way too quick to be dismissive of other peoples financial planning for this market.

Edit: << The photo of "Hi Tass!" paper message together with a quantity of gold bullion, has been removed by dopester >>

Point made to Tass.

Tassotti

Oh my..you are such a child!!!

It's like talking to my 21 year old son.

You have the opportunity to do something great...rather than just moan about it....Do it, and show us all!!

I like the pic

Tass