UK 'On Cusp Of Second Banking Failure'

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Comments

  • rick_chasey
    rick_chasey Posts: 75,661
    daviesee wrote:
    Smokin Joe wrote:
    There are two types of people who make economic predictions; Those who don't know and those who don't know they don't know.

    Worry when it happens.

    Funny that.
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    Jeez, the smugness is seeping out of my screen.
    _
  • finchy
    finchy Posts: 6,686
    daviesee wrote:
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    I've been saying the same thing since the first half of this decade. My family kept telling me to get onto the property ladder because prices would just keep going up and up and up.

    So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:
  • rick_chasey
    rick_chasey Posts: 75,661
    johnfinch wrote:
    daviesee wrote:
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    I've been saying the same thing since the first half of this decade. My family kept telling me to get onto the property ladder because prices would just keep going up and up and up.

    So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:

    Even a broken clock is right twice a day John :wink:
    _
  • daviesee
    daviesee Posts: 6,386
    Rick Chasey wrote:
    daviesee wrote:
    Smokin Joe wrote:
    There are two types of people who make economic predictions; Those who don't know and those who don't know they don't know.

    Worry when it happens.

    Funny that.
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    Jeez, the smugness is seeping out of my screen.

    Point being that I am just an ordinary person and I saw it coming. Anyone in financial circles who said they didn't is either blind, lying or incompetent. It was an easy prediction. The hard part was "when" and all these financial experts are just surfing the wave for as long as possible and to hang with the consequences.
    My prediction in writing now? Two years of hurt and stagnation at least. Again, the when is the hard part.
    None of the above should be taken seriously, and certainly not personally.
  • bompington
    bompington Posts: 7,674
    Rick Chasey wrote:
    johnfinch wrote:
    daviesee wrote:
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    I've been saying the same thing since the first half of this decade. My family kept telling me to get onto the property ladder because prices would just keep going up and up and up.

    So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:

    Even a broken clock is right twice a day John :wink:
    Don't knock economists, they've correctly predicted 11 out of the last 5 recessions
  • Crapaud
    Crapaud Posts: 2,483
    johnfinch wrote:
    ... So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:
    I've wondered that myself.

    I used to wonder how some folk could afford a house, fancy car/clothes, 2/3 holidays a year and an expensive social life. Then I found out just how much personal debt they had. I know from personal experience - with very little debt - just how quickly debtors will close in when your circumstances, just a little bit, change for the worse. The bubble has to burst sometime. And it's on it's way.
    A fanatic is one who can’t change his mind and won’t change the subject - Churchill
  • cee
    cee Posts: 4,553
    Crapaud wrote:
    johnfinch wrote:
    ... So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:
    I've wondered that myself.

    I used to wonder how some folk could afford a house, fancy car/clothes, 2/3 holidays a year and an expensive social life. Then I found out just how much personal debt they had. I know from personal experience - with very little debt - just how quickly debtors will close in when your circumstances, just a little bit, change for the worse. The bubble has to burst sometime. And it's on it's way.

    No great shakes....but....

    the bit in bold....you mean creditors. the individual with the debt is the debtor....the person to whom they owe money are the creditor.....
    Whenever I see an adult on a bicycle, I believe in the future of the human race.

    H.G. Wells.
  • Crapaud
    Crapaud Posts: 2,483
    cee wrote:
    Crapaud wrote:
    johnfinch wrote:
    ... So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:
    I've wondered that myself.

    I used to wonder how some folk could afford a house, fancy car/clothes, 2/3 holidays a year and an expensive social life. Then I found out just how much personal debt they had. I know from personal experience - with very little debt - just how quickly debtors will close in when your circumstances, just a little bit, change for the worse. The bubble has to burst sometime. And it's on it's way.

    No great shakes....but....

    the bit in bold....you mean creditors. the individual with the debt is the debtor....the person to whom they owe money are the creditor.....
    I stand corrected. Ta. :D
    A fanatic is one who can’t change his mind and won’t change the subject - Churchill
  • Aggieboy
    Aggieboy Posts: 3,996
    Rick Chasey wrote:
    Good to see sartorial issues are clearly of more pressing importance than financial market fear.

    Whilst on the subject - to while away the time you should be using to earn your wage:

    The Sartorialist

    Especially the street photos (catwalks are catwalks, - same sh!t different day).

    They are! I can't change the financial market, but I can change my shoes.

    Whilst on the subject - to while away the time we should be using to earn our wage:

    Fixed that for you.
    "There's a shortage of perfect breasts in this world, t'would be a pity to damage yours."
  • rick_chasey
    rick_chasey Posts: 75,661
    Aggieboy wrote:
    Whilst on the subject - to while away the time we should be using to earn our wage:

    Fixed that for you.

    ??

    You lost me.
    _
  • finchy
    finchy Posts: 6,686
    Rick Chasey wrote:
    johnfinch wrote:
    daviesee wrote:
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    I've been saying the same thing since the first half of this decade. My family kept telling me to get onto the property ladder because prices would just keep going up and up and up.

    So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:

    Even a broken clock is right twice a day John :wink:

    So if I'm a broken clock does that make economists a bit slow? :P
  • rick_chasey
    rick_chasey Posts: 75,661
    johnfinch wrote:
    Rick Chasey wrote:
    johnfinch wrote:
    daviesee wrote:
    I have been telling anyone who would listen since the '90's that this was going to happen.
    As such I was prepared for it.
    I don't have to worry.

    I've been saying the same thing since the first half of this decade. My family kept telling me to get onto the property ladder because prices would just keep going up and up and up.

    So if someone like me, with virtually no economic knowledge, can spot a bubble, why couldn't all the experts? :roll:

    Even a broken clock is right twice a day John :wink:

    So if I'm a broken clock does that make economists a bit slow? :P

    Touché!
    _

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