It's very different to the early 90's where we didn't have internet isn't it?

sabretoothtigger

Darling quote 'exceptional times' and guarantees all british depositors with icesave, no matter the amount

sarkin

MiserlyMartin wrote: »

It is different in that there is more discussion and info around but I don't believe that has helped the crash or sped it up. Look at how long housepricecrash.co.uk has been around - 2002! Houses did not crash because those 'doom mongers' were talking about it on there for all these years. It happened from a trigger of loads of events coming together be mainly the waking up to the fictional price levels it had got to.

do you mind if I edit your post a little

Look at how long housepricecrash.co.uk has been around - 2002! Houses did not crash because they were talking about it on there for all these years. They where ahead of thier time but people did not want to listen.

It happened from people waking up to the fictional price levels houses had got to.

wakey wakey

WTF?_2

sarkin wrote: »

Look at how long housepricecrash.co.uk has been around - 2002! Houses did not crash because they were talking about it on there for all these years. They where ahead of thier time but people did not want to listen.

It happened from people waking up to the fictional price levels houses had got to.

Yep - but people need someone to blame. Short-sellers were a popular scapegoat for the stockmarket's woes ... until we got even greater falls after the practice had been curbed, for example. Same with houses: "Who's to blame for the fall in house prices - why those people warning about it of course! It couldn't possibly be because *I* screwed up and made a very bad decision without thinking it out properly".....

Sentiment is an amazing thing. The underlying fundamentals have been awful for ages ... yet it takes waiting until there's a critical mass of panic before the market really acts. It kind of indicates to me that a lot of people with responsibility for handling enormous sums of money haven't got a clue what they are doing and just blindly follow the trend.

Jimuth

If you're sick of the crunch, block it! :beer:

http://www.recessionblocker.com/

Kez100

neverdespairgirl wrote: »

Patchwork quilts are great. I started my first aged 15.

I started an embroidery when waiting for my daughter to arrive. Quite a small one and it was supposed to be later framed and put on her bedroom/nursery wall. It still isn't finished and she is at secondary school!

neverdespairgirl

Kez100 wrote: »

I started an embroidery when waiting for my daughter to arrive. Quite a small one and it was supposed to be later framed and put on her bedroom/nursery wall. It still isn't finished and she is at secondary school!

Clearly it's for your future grandchild's nursery (-:

Kez100

Or great grandchildren

What is interesting is that the last 'panic time' I recall was when the interest rate went up loads in one day in the 1990's. We already had a mortgage paying about 13% and it was a scary day. The Chancellor did it to try and beat some bloke who was buying lots of pounds, or selling them or something, but I remember us all sat in the office gobsmacked at what was happening and recalculating our mortgages every five minutes when he put rates up again but not knowing where to look for more information or who to talk to about what was happening. I remember changing radio station from Radio One in the hope another station might have news with more information content. How the internet has changed all that.

In the end, he dropped them the following day, and our mortgage wasn't affected.

oilit

Kez100 wrote: »

Or great grandchildren

The Chancellor did it to try and beat some bloke who was buying lots of pounds, or selling them or something,
quote]
IMMSMR it was George Soros wasnt it?

moanymoany

When I thought about Kaupthing in May I read something that made me wonder about them. I googled and found just a couple of bits of info that made me think I'd leave them alone.

Now, this info was very easy to find and came from reputable sources. I spent all of 10 minutes on it.

I then went onto the savings board and put in my question asking if they were - perhaps - best avoided and was treated as some kind of idiot!

That information was there for everyone - but not everyone wanted to read it. So, even though the internet is full of information and news spreads like a forest fire in a hot Californian summer, not everyone gets the message!

When this board had people saying they had already got their cash out because the Icelandic banks were going pear shaped - on the savings board most people were saying they were not going to react to hysteria and were keeping their money in Icesave - the information was out there, they simply ignored it!

Austin_Allegro

Like most great inventions, the internet is a tool both for great good, and great evil.

I think on balance it is a great instrument of knowledge and democracy. The problem is making sense of all the information on it!

I have been trained to postgraduate level in the critical analysis of prose, and have worked for over a decade doing that every day, but I still find it difficult sometimes working out what's true and what's not on the net!