Second Financial Collapse Starting?
27 September 2011, 12:14 PM
#151
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You know well enough that I would only support the party which would do good for thiis country and its people.
On the other hand, another dose of NL would be an absolute disaster for the UK.
I have to say that I am in the situation where finding any kind of faith in any of our leaders is very hard to do!
We need a strong and fearless leader who will act to rebuild this country into the great independent world leader that it always was in the past.
Les
27 September 2011, 12:54 PM
#153
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I am sure you know what I actually mean Pete.
Rather than being on our beam ends,I would prefer that this country was strong economically as it was in '97 before NL destroyed all that, and that we were respected worldwide for our democratic and fair minded attitudes.
Les
Rather than being on our beam ends,I would prefer that this country was strong economically as it was in '97 before NL destroyed all that, and that we were respected worldwide for our democratic and fair minded attitudes.
Les
27 September 2011, 01:48 PM
#154
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Also, blame Apple!
27 September 2011, 02:40 PM
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27 September 2011, 02:52 PM
#157
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What is true is that it was STRONGER than 97 in 98,99, 2000, 01,02,03,04,05,06 and 2007!
I only remember a few on here saying that it was getting out of hand and was about to crash - ME included! - most were relishing in their collective borrowed wealth!!
NL satisfied a demand, Banks satisfied a demand, the gullible lapped it up and bought like there was no tomorrow ..... we had chavs with BMW X5's and 50" Plasma TV's ... JetSkis and Swimming Pools ............ NL allowed it to blossom (which was a mistake) but they didn't hold a gun at anyones head as they signed the HP Agreement for the X5!
27 September 2011, 02:56 PM
#158
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How can the economy have been structurally more sound (i.e. stronger) on borrowed wealth, Pete? There's no logic there. They didn't have a clue, they were just along for the ride, and their lack of insight into how an economy actually works prevented them from doing anything about those structural problems to give people a softer landing, or slow things down before they got out of hand.
New Labour were (and are) more out of touch with real life than the Eton boy Tories ever have been.
New Labour were (and are) more out of touch with real life than the Eton boy Tories ever have been.
27 September 2011, 03:25 PM
#160
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NL satisfied a demand, Banks satisfied a demand, the gullible lapped it up and bought like there was no tomorrow ..... we had chavs with BMW X5's and 50" Plasma TV's ... JetSkis and Swimming Pools ............ NL allowed it to blossom (which was a mistake) but they didn't hold a gun at anyones head as they signed the HP Agreement for the X5!
27 September 2011, 03:33 PM
#161
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To be fair it was pretty good at the time.
I worked with a joiner for a year after I left college, and the amount of work, the new builds that were going up and the cash people had was just brilliant. Lol
You would had to have been into economics or work in the related industries to actually understand what was going on. For the average guy, they were doing what they thought was sustainable in a lot of cases, as they weren't exactly clued up on current macroeconomics! The banks have always lent, that's what they do, so when loans started becoming easier to get and all sorts of industries were trading between themselves at a higher level of demand, the people in the various industries would just naturally assume business was 'doing well' in general. So taking out loans would seem sustainable based on maybe even quite conservative projections.
I worked with a joiner for a year after I left college, and the amount of work, the new builds that were going up and the cash people had was just brilliant. Lol
You would had to have been into economics or work in the related industries to actually understand what was going on. For the average guy, they were doing what they thought was sustainable in a lot of cases, as they weren't exactly clued up on current macroeconomics! The banks have always lent, that's what they do, so when loans started becoming easier to get and all sorts of industries were trading between themselves at a higher level of demand, the people in the various industries would just naturally assume business was 'doing well' in general. So taking out loans would seem sustainable based on maybe even quite conservative projections.
27 September 2011, 03:35 PM
#162
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So what is the answer? Communism? 
I do agree with Pete on the fact that peoples greed was a major part of the problem.
It was only there though because the bank loaned their neighbour enough cash for a shiney new X5.
I do agree with Pete on the fact that peoples greed was a major part of the problem.
It was only there though because the bank loaned their neighbour enough cash for a shiney new X5.
27 September 2011, 03:52 PM
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To be fair it was pretty good at the time.
I worked with a joiner for a year after I left college, and the amount of work, the new builds that were going up and the cash people had was just brilliant. Lol
You would had to have been into economics or work in the related industries to actually understand what was going on. For the average guy, they were doing what they thought was sustainable in a lot of cases, as they weren't exactly clued up on current macroeconomics! The banks have always lent, that's what they do, so when loans started becoming easier to get and all sorts of industries were trading between themselves at a higher level of demand, the people in the various industries would just naturally assume business was 'doing well' in general. So taking out loans would seem sustainable based on maybe even quite conservative projections.
I worked with a joiner for a year after I left college, and the amount of work, the new builds that were going up and the cash people had was just brilliant. Lol
You would had to have been into economics or work in the related industries to actually understand what was going on. For the average guy, they were doing what they thought was sustainable in a lot of cases, as they weren't exactly clued up on current macroeconomics! The banks have always lent, that's what they do, so when loans started becoming easier to get and all sorts of industries were trading between themselves at a higher level of demand, the people in the various industries would just naturally assume business was 'doing well' in general. So taking out loans would seem sustainable based on maybe even quite conservative projections.
27 September 2011, 03:57 PM
#164
27 September 2011, 04:00 PM
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27 September 2011, 04:05 PM
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Posted that on the Greek Omnibus thread. Thought the Beeboid's reaction was stunning. As though they thought that everything was OK with the world and this was the first they'd heard of a global financial meltdown 'cos Flash had saved the world in 2008, hadn't he ....
Dave
Dave
27 September 2011, 04:08 PM
#168
27 September 2011, 04:08 PM
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27 September 2011, 04:13 PM
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27 September 2011, 04:19 PM
#171
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Oh yes. I'm sure I don't have to tell you what it was like driving a scooby around at 20 while living with the parents and having all the disposable income that goes with it. It was a good time to be finding out about the world (the polite way of describing the activities of the time).
For people already in established business (retail?) it must have been manic and the time to move up through the ranks.
For people already in established business (retail?) it must have been manic and the time to move up through the ranks.
27 September 2011, 04:30 PM
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27 September 2011, 04:43 PM
#173
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Oh yes. I'm sure I don't have to tell you what it was like driving a scooby around at 20 while living with the parents and having all the disposable income that goes with it. It was a good time to be finding out about the world (the polite way of describing the activities of the time).
For people already in established business (retail?) it must have been manic and the time to move up through the ranks.
For people already in established business (retail?) it must have been manic and the time to move up through the ranks.
Last edited by JTaylor; 27 September 2011 at 04:53 PM.
27 September 2011, 04:56 PM
#174
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I'm sure it was YOU complaining about the nanny state!!
So, what is it you want?
1. Government to tell you what to do for yourself, as any great Leader does
or
2. Be free to make your own mind up about things?
27 September 2011, 05:05 PM
#176
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It was very lucrative if you made the right moves; in fact it was even worth moving to Scotland for 3 months. My outfit gave me an E320 Avantgarde and a £750 per week apartment opposite the gallery in Kelvingrove. Mad. We all knew it was unsustainable; the trick was to have a little bit of fun but bag as much loot as possible. I'm nervous about the future. The E320's gone back.
27 September 2011, 05:06 PM
#177
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Anyone who didn't bank at least £500,000 in the Labour years wasted themselves ... it was just so easy to command £1500 a day consultancy work - and companies just paid up ...... not even a shrug or moan 
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
It was madness, I knew it couldn't last - but wanted it to .... business lunches, evening business dinners, box at Wembley and Twickers, evening treats in London .. all the trappings. Everyone was at it, we all knew it was a con, but - boy - did we laugh!
Sadly, some are going to get bitten hard - I don't want to be one of them - so, want out of cash .......... not sure where to put it though!
I'm sure a Bank/Banks will default in the UK and people will have to accept 10p in the £1 of their money ..... the guarantees are not worth a bean (as we saw in Iceland!).
Buy something you can touch, enjoy, feel .... wise money, I believe, is going into BTL properties - rents are spiralling.
27 September 2011, 05:06 PM
#178
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27 September 2011, 05:13 PM
#179
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27 September 2011, 05:15 PM
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