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We now enter the 'grey dismal' years says Robert Peston
moanymoany
Posts: 2,877 Forumite
http://www.bbc.co.uk/blogs/thereporters/robertpeston/
Anyone thinking that we have turned a corner and are starting the way out of the credit crunch is at odds with Robert Peston.
Sadly, what he writes here seems a more realistic forecast than the hype over the rises in the share markets yesterday.
Anyone thinking that we have turned a corner and are starting the way out of the credit crunch is at odds with Robert Peston.
Sadly, what he writes here seems a more realistic forecast than the hype over the rises in the share markets yesterday.
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It was only really WWII which pulled the USA from Depression years. Look out Iran!0
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There seems to have been air of delusional hope over the last 12 months.
It's as if many just thought that an economic downturn could be avoided if they just kept waiting and hoping. They'd be a lot better off by assuming the worst and seeing everything else as being a bonus.Happy chappy0 -
The stock rises of yesterday were just a reaction - normal recession will restart shortly...;)0
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moanymoany wrote: »http://www.bbc.co.uk/blogs/thereporters/robertpeston/
Anyone thinking that we have turned a corner and are starting the way out of the credit crunch is at odds with Robert Peston.
Sadly, what he writes here seems a more realistic forecast than the hype over the rises in the share markets yesterday.
'The night is darkest before the dawn', a wise old saying.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
The stock rises of yesterday were just a reaction - normal recession will restart shortly...;)
They are however a fantastic opportunity for the really slow-to-catch on to get out of the stock market (definitely the last chance saloon) and will provide hopefully a couple of months for people to prepare for the worst and get their financial ducks in a row.
I was hoping that the price of gold would be depressed as it usually is when a crisis abates (so I can put another 5% of my savings in to top up to 10% as a hedge) but it's staying resiliently high - only down a bit. Will just have to settle for less gold for my dosh. Tells me that many people aren't fooled.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
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But the full quote is..'The night is darkest before the dawn', a wise old saying.
"The night is darkest before the dawn, but it can remain dark with the curtains drawn"
Which I think is pretty profound, and an indication of how mod: Remainder of fairly poor and frankly ludicrous analogy has been removed, think yourself lucky you haven't been moved to the MoneySaver's Arms.0 -
amcluesent wrote: »It was only really WWII which pulled the USA from Depression years. Look out Iran!
Or "pakistiran" as Private Eye put it........much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Turn your face to the sun and the shadows fall behind you.0
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The stock rises of yesterday were just a reaction - normal recession will restart shortly...;)
Quite alot of commentators have said the rise was just due to the shorters taking long positions to cover their short positions which have been banned - if you see what I mean;)Turn your face to the sun and the shadows fall behind you.0
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