What have you personally learned from the current crisis?

DX-SFX

What have you personally learned from the current crisis?

How unwelcomely smug and condescending some posters on this forum can be.

innovate

going2die_rich wrote: »

But the main lesson learnt is, that the stupid will always be bailed out by the taxpayer. Thats towards those who saved more than the protected limits and the bankers who took excessive risks.

Shame you haven't learnt that it's really not appropriate to call people who you don't know at all, and whose circumstances you don't know at all, 'stupid'.

Shame you don't appear to understand that people who have savings are part of the contingent that makes "the taxpayer".

Incredible you conclude that because something has happened in the past (i.e. the bailing out), it will "always" happen in the future.

What I have learnt from the crisis is that a whole lot of really really smart (so they think) people turn up on Internet forums to dish out insults.

DX-SFX

If the government hadn't stepped in to prop up the banking system, none of the 100% guarantees that any of the banks give actually amount to a tin of beans so the whole thing becomes a huge game of roulette choosing who to invest with and any perceived wisdom or skill is completely erroneous. It can happen to any bank and indeed has done. £400,000,000,000 says that's right.

Kez100

I have always been relatively careful with money but we are not yet at the stage we are mortgage free. I will be making that my priority.

I won't save in any bank not guaranteed under the UK only scheme (not that I have but I have learned from the fallout)

I have learned how much money we waste, just generally. I have learned how vulgar and unnecessary a lot of our spending has become. I am looking very differently what I buy (and I wasn't an overspender before)

hedger

Ive learned just how incompetent banks, governments and the so called regulators can be. Im amazed no-one is goin to jail over this fiasco.

LesU

going2die_rich wrote: »

Learned to never trust Iceland and proven myself right for thinking the passport scheme was nonsense.

But the main lesson learnt is, that the stupid will always be bailed out by the taxpayer. Thats towards those who saved more than the protected limits and the bankers who took excessive risks.

Is this the passport scheme that appears to be working its way through due process at the moment? Albeit with a bit of heavy handed prodding courtesy of the British Government.
When I put money into Icesave in October last year, a run on several banks and the virtual collapse of half of the Banking world would have been filed under fiction.

I will now not commit to any long term saving, keeping everything spread about and more fluid.

blondieleopard

' Men, it has been well said...think in herds, it will be seen that they go mad in herds, while they only recover their senses slowly and one by one '

charles mackay......'xtraordinary popular delusions and the MADNESS of crowds '

DX-SFX

Not everyone thinks in herds.

Saucepot

I used to laugh at my old granny for "not trusting banks and putting her money in a biscuit tin" She lived through the war and the depression and knew a thing or two.

Though when she used to say "you can say what you like about Hiltler, he put the world in work and got the trains running on time", I'm not sure she was advocating fascism. Though she might have been.

blondieleopard

DX-SFX wrote: »

Not everyone thinks in herds.

not everyone does anything