"Dont Bank on the Bailout" TV prog

wombat42_2

See Dispatches this Monday 9pm to 10pm Channel 4. Presented by maverick fund manager Hugh Hendry.

StevieJ

wombat42 wrote: »

See Dispatches this Monday 9pm to 10pm Channel 4. Presented by maverick fund manager Hugh Hendry.

Interesting comment in the first paragraph (article from 2006). Now we know who lost all that Icesave money.
http://business.timesonline.co.uk/tol/business/columnists/article684587.ece

wombat42_2

StevieJ wrote: »

Interesting comment in the first paragraph (article from 2006). Now we know who lost all that Icesave money.
http://business.timesonline.co.uk/tol/business/columnists/article684587.ece

His hedge fund shorted Iceland and made a fortune.

CluelessJock

Thanks for the heads up, although checking on Sky it is scheduled for 8pm -9pm.

ManAtHome

Not interviewing the several hundred who heard the wrong voices then..? A bit like interviewing a few hundred people leaving a casino - "OMG you just knew it would be number 38 - what an amazing insight you must have"...

bjorn_again

Don't bank on the bailout! Is'nt this how Hendry made his fortune - spamming the world.

wombat42_2

Bump Bump Bump

justaquickie

Synopsis if you couldn't face it:

We're all stuffed
Regulators are useless
It's going to be worse than they're saying
It'll all happen again
We're all to blame (if I hear that one more time....)
Bailing out the banks sets a dangerous precedent
Hendry doesn't have a better escape plan
Credit rating companies are useless
Oh, and we're all stuffed
Amen.

wombat42_2

I actually found it quite disappointing. Well done to Hendry for correctly calling the downturn however. I was most interested in the last section about his predictions for the future and wish it was given more time.

I was baffled in his comments about interest rates. The reason why some member of the MPC were reluctant to reduce interest rates was becuse of rampant commodity price inflation which Hendry should know about because he runs the Eclectica Agriculture fund. Even though commodity prices have recently slumped there is still probably a long term bull trend because of China, climate change etc.

Also i recently saw in a interview with Hendry where he predicted the deflation would change to hyperinflation in about three years time. The program suggested that taxes will have to go up sky high to pay for the debt but the argument is that governments just wouldnt have the stomach to do this or just raising taxes wouldnt be enough so would just print money instead leading to hyperinflation.

He also didnt mention the role of currencies and the dollar which will probably decline long term.

Unlike Jim Rogers he though that the bailout money was necessary even though it just adds to the debt mountain.

sabretoothtigger

The ratings companies are idiots, at least one of them should be nationalised, it would improve the system against conflict of interest and warn the others against corruption collusion

wombat42_2

More scary stuff
http://en.epochtimes.com/n2/opinion/iceland-currency-collapse-is-a-sign-of-the-times-and-will-spread-6299.html

http://arabianmoney.net/2008/10/27/jim-sinclair-thinks-middle-east-will-prosper-in-hyperinflation/