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Bubble Warning from senior economist
Comments
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You're obviously one affected.Trouble is that it appears the meds are to cure those that bought the illness upon themselves, whilst those that tried their best to avoid it are being forced to pay for the treatment.
Don't blame others for you making bad investment decisions.
That can be called hypocrisy or hiding from the truth.0 -
That sounds productive ...
It is if others know the answers or shows up the fact that nobody actually does."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 -
You're obviously one affected.
Don't blame others for you making bad investment decisions.
That can be called hypocrisy or hiding from the truth.
What you fail to accept that there are millions of people out there who by of age and circumstance rely on cash savings. To leverage property transaction or invest in equities and bonds would be reckless, even if they could find someone to lend them the money or greedy enough to recommend investments."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 -
Oh I accept that but the usual suspects here would have preferred the economy to have collapsed, unemployment to have gone through the roof, the stock market to crash, house prices to crash and everything else linked to the wealth destruction that took place.grizzly1911 wrote: »What you fail to accept that there are millions of people out there who by of age and circumstance rely on cash savings. To leverage property transaction or invest in equities and bonds would be reckless, even if they could find someone to lend them the money or greedy enough to recommend investments.
If people preferred that, well it says a lot about either their understanding of the situation or the kind of person that they are.0 -
Oh I accept that but the usual suspects here would have preferred the economy to have collapsed, unemployment to have gone through the roof, the stock market to crash, house prices to crash and everything else linked to the wealth destruction that took place.
If people preferred that, well it says a lot about either their understanding of the situation or the kind of person that they are.
It is interesting that you accept that 'wealth destruction took place'.
It would be equally interesting to hear your opinion about whose wealth suffered the greatest damage, and who has been most successful in recouping their losses.
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
grizzly1911 wrote: »What you fail to accept that there are millions of people out there who by of age and circumstance rely on cash savings. To leverage property transaction or invest in equities and bonds would be reckless,
Indeed.
But what you fail to accept is that their "savings" (actually, just a loan to the banks) was then used by those banks to fund commercial lending (much of which went bad), overseas expansions (much of which went bad), purchases of foreign RMBS (much of which went bad), etc.
And yes, even UK residential mortgage lending......
The overwhelmingly vast majority of which didn't go bad.
But only because low rates saved the wider economy and prevented unemployment from reaching horrific European levels, allowed the banks to recapitalise thanks to record spreads on lending, and preventing those banks from defaulting on the loans that savers gave them.
Instead of moaning about the return on your money, you should be thankful that you can still get a return of your money.
There is no god given right to get risk free returns from savings that meet or beat inflation.“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 -
HAMISH_MCTAVISH wrote: »Indeed.
But what you fail to accept is that their "savings" (actually, just a loan to the banks) was then used by those banks to fund commercial lending (much of which went bad), overseas expansions (much of which went bad), purchases of foreign RMBS (much of which went bad), etc.
And yes, even UK residential mortgage lending......
The overwhelmingly vast majority of which didn't go bad.
But only because low rates saved the wider economy and prevented unemployment from reaching horrific European levels, allowed the banks to recapitalise thanks to record spreads on lending, and preventing those banks from defaulting on the loans that savers gave them.
Instead of moaning about the return on your money, you should be thankful that you can still get a return of your money.
There is no god given right to get risk free returns from savings that meet or beat inflation.
I am not moaning a good proportion of mine is not in cash.
There are many elderley people and soon to be retired being taken for a ride.
I am not one of the above BTW.
There is no given right to borrow cheap money either or for tax payer guarantees."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 -
grizzly1911 wrote: »There are many elderley people and soon to be retired being taken for a ride.
How are they being taken for a ride?
They get to store their money in a bank, risk free, and they still get paid for it.
Less than they used to get paid, but it's risk free and we've just come through the biggest financial crisis in a century.
When the economy picks up, they will get paid more.There is no given right to borrow cheap money either
Indeed.
But the returns from cheap lending are all that's available risk free.
Savers are welcome to invest in riskier assets if they wish.or for tax payer guarantees.
What, like the tax payer guarantees for the contents of savings accounts with banks?;)“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 -
It's not very interesting at all it's a fact.It is interesting that you accept that 'wealth destruction took place'.
It would be equally interesting to hear your opinion about whose wealth suffered the greatest damage, and who has been most successful in recouping their losses.
TruckerT
The people that recouped their losses were probably the ones that took investment risks and definitely not the ones sitting on an Internet forum complaining that the global crisis and recovery wasn't distributed correctly.0
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