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Very scary words from Carney
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I wish I had the bottle to start a proper manufacturing business. I have the ideas and the mindset (in terms of being super detailed) but not the bottle to risk what I've manage to cobble together so far.Does make you wonder how much capital investment is being drawn away from enterprises that could produce employment and future real wealth..
In the various gold rushes throughout history, millions of schemers and dreamers were drawn to remote locations to risk it all and seek their fortune.
99% of them failed.
The people who did get rich, were the ones who moved out there not to search for gold, but to do far more mundane and low risk things like sell shovels, pickaxes, tents, and supplies to the miners and prospectors. And indeed a lot of these same suppliers went on to become landlords in the small towns that sprang up.
Supply the boring services (including housing or commercial property) that the risk takers will need, but will have little interest in acquiring themselves, as they're too busy moving around and chasing opportunities.
Build an asset base and income stream.
And get rich slowly.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
A toy country with a currency of no great international significance. I'm wondering if he really scales up. He's starting to make Merv look like a safe pair of hands.Thrugelmir wrote: »Extremely well respected man for the way that the finances of Canada have been managed.
Trouble is, monetary policy is a very blunt instrument. Fiscal policy and government spending are potentially much sharper tools, but the government won't use them."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
A toy country with a currency of no great international significance. I'm wondering if he really scales up. He's starting to make Merv look like a safe pair of hands.
Read his speeches over the past few years. Interesting stuff. Doesn't strike me as being the type of person to hold back.
Merv oversaw the banking crisis. So hardly the safest pair of hands.0 -
HAMISH_MCTAVISH wrote: »In the various gold rushes throughout history, millions of schemers and dreamers were drawn to remote locations to risk it all and seek their fortune.
99% of them failed.
The people who did get rich, were the ones who moved out there not to search for gold, but to do far more mundane and low risk things like sell shovels, pickaxes, tents, and supplies to the miners and prospectors. And indeed a lot of these same suppliers went on to become landlords in the small towns that sprang up.
Supply the boring services (including housing or commercial property) that the risk takers will need, but will have little interest in acquiring themselves, as they're too busy moving around and chasing opportunities.
Build an asset base and income stream.
And get rich slowly.
That is an interesting view.
It is hoped that the prospectors don't up and leave town looking for the next claim somewhere else. Leaving you with surplus fixed "assets". If they do at least hope you don't have the associated liabilities."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The UK property obsession / risk off mentality is killing innovation though. I've got loads of friends who are brilliant but chose to work to support essentially American firms succeed and squirrel whatever they have into UK property, never using it to set up a new start up to challenge the yanks.
It's a poor situation really for the UK. Too many Brits live like bears, not bulls.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
We're heading back to Victorian levels of class division. Watch out for top hats and tailcoats coming back into fashion.
The nearest that 99.9% of "poor" people get to actual millionaires is when they trot along each Saturday afteroon & pay for the privilege of watching them play football.
Ironically plenty of these morons are the same class warriors who moan endlessly about the rich.0 -
grizzly1911 wrote: »That is an interesting view.
It is hoped that the prospectors don't up and leave town looking for the next claim somewhere else. Leaving you with surplus fixed "assets". If they do at least hope you don't have the associated liabilities.
I'll have sold up before the prospectors leave town...;)
Thankfully, the timescales for decline of the various UKCS oil and gas fields are somewhat predictable.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Decisions will be driven by electoral advantage (or desperation). They all do it. Brown could have acted earlier but austerity would not have gone down well (so he delayed the inevitable). Cameron will talk the talk but will not resist the temptation to advance the recovery and worry about the consequences if it works and he gets re-elected.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0
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Originally Posted by HAMISH_MCTAVISH
Supply the boring services (including housing or commercial property) that the risk takers will need,
Commercial property lending is hitting lenders hard in the bottom line.0
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