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The 10's Depression
homelessskilledworker
Posts: 1,664 Forumite
I was watching the politics show last night where they were asking the four strong panel various questions on what will happen in 2012. One of the questions was "will the economy be as worse in 2012", all said worse.
This morning the papers are flooded with articles on a possible economic depression coming.
For four years now all of the vested interests have thrown everything but the kitchen sink at the housing market to prevent a collapse.
1. Artificialy low interest rates
2. Taxpayers money
3. lenders have been forced not to reposses bad loans(mortgages)
For a while now I have been posting on this very subject, I think many people have no idea what is coming to them. Their idea of hard times is to maybe give up cable TV and not go on a skiing holiday this year.
The very fact that property has been propped up for so long now will make the falls that are coming even greater.
This morning the papers are flooded with articles on a possible economic depression coming.
For four years now all of the vested interests have thrown everything but the kitchen sink at the housing market to prevent a collapse.
1. Artificialy low interest rates
2. Taxpayers money
3. lenders have been forced not to reposses bad loans(mortgages)
For a while now I have been posting on this very subject, I think many people have no idea what is coming to them. Their idea of hard times is to maybe give up cable TV and not go on a skiing holiday this year.
The very fact that property has been propped up for so long now will make the falls that are coming even greater.
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Comments
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100% Agree0
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This is what happens when lying thieves are in control.
We would have been in "recovery" now if the economic cycle had been allowed to run its course. That is, banks allowed to go bust and the over-leveraged take their hit.
Instead, because of all the props and meddling it is going to get worse.
As Max Keiser puts it - "capitalism without bankrupcy is like christianity without hell""The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
http://uk.news.yahoo.com/imf-chief-warns-gloomy-economic-outlook-084843827.html
Even with the best will in the world I do not think there is any chance of preventing the inevitable collapse.
I just hope that the small guy is not hit as hard as I suspect he/she will be, far too much tax payers money is being used to prop up bankers and useless assets.
Just let the markets find their own level, then we ALL know where stand.0 -
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The same message on This Week, ever the contrarian it is a big buy signal for me :beer: !!!!!! do they know?'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
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