I wonder how much of the The market crash could be caused by the media?, they seem to be talking it up and I suppose that if they have no other news and decide to make a story about a potential market crash they could be responsible for one, there is no one to argue the difference.
market crash ?
- Thread starter Richardp
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I don't think that's right. We have known for years that the US economy was due a big crash, due to (1) enormous, long term and increasing budget deficit (2) enormous, long term and increasing balance of payments deficit (3) enormous, long term and increasing government borrowing from overseas lenders (4) enormous, long term and increasing borrowing by citizens backed by house price inflation (5) enormous, long term and increasing asset price inflation in house prices
Considering all the trouble they have stored up, it has a lot further to go.
the US economy has been propped up by foreigners wiling to lend it their money, which they mostly earned by selling it Things. The the US was importings Things, and manufacturing debt. Sooner or later confidence was going to run out.
Just like you and me, a country cannot live forever by buying Things from other people, and borrowing the money to pay for them from the vendors. The debt just gets bigger and bigger until someone blinks.
It is no surprise that the current little difficulties were caused when confidence ran out in the idea of lending money to people who had neither the means nor the intention to pay it back, secured on assets which were not "worth" as much as the loan, and selling the loans on to some other mug who hoped everything would be all right.
Considering all the trouble they have stored up, it has a lot further to go.
the US economy has been propped up by foreigners wiling to lend it their money, which they mostly earned by selling it Things. The the US was importings Things, and manufacturing debt. Sooner or later confidence was going to run out.
Just like you and me, a country cannot live forever by buying Things from other people, and borrowing the money to pay for them from the vendors. The debt just gets bigger and bigger until someone blinks.
It is no surprise that the current little difficulties were caused when confidence ran out in the idea of lending money to people who had neither the means nor the intention to pay it back, secured on assets which were not "worth" as much as the loan, and selling the loans on to some other mug who hoped everything would be all right.
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There is a global shift of wealth going on. As the East gets richer then the West will get poorer. That means that all of us in Europe will get poorer.
For the people of the UK there is a double whammy. As all the countries of Europe are effectively joined, a redistribution of wealth will occur. Countries such as the UK, Germany, France etc will get poorer as the new ascension countries such as Poland, Latvia, Czech Republic will get richer.
Oh and it won't improve in your lifetime.
10 years from now we'll be in dire straights as everyone tries to hang on to what they've got - or to grab what they want.
For the people of the UK there is a double whammy. As all the countries of Europe are effectively joined, a redistribution of wealth will occur. Countries such as the UK, Germany, France etc will get poorer as the new ascension countries such as Poland, Latvia, Czech Republic will get richer.
Oh and it won't improve in your lifetime.
10 years from now we'll be in dire straights as everyone tries to hang on to what they've got - or to grab what they want.
the op statement was about the media.
he is 100% right!
they dont cause it as there are clearly other factors but they do scaremonger. they suggest that you cant get a mortgage but that is rubbish.
the banks have withdrawn the cheaper fixed rate deals.. well so would i if i could earn more out of the loan i give out.
banks did not offer this type of mortgage 10ish years ago and certainly not at the rates we have now (a generalisation i know but on the whole its true)
the bbc do soundbite news articles and cause a panic...
think how the credit crunch would affect you if the bbc hadnt told everyone! it wouldnt! or it wouldnt affect you nearly as much.
they did the same with northern rock! i'd say that the bbc caused the run on the bank by spreading the word when realistically NR would have almost certainly have coped.
i'll bet the bbc caused the country to pay out more than ten years of its own licence fees because of the way they reported on this..
if they were so good at their jobs then why didnt they let us all know that northern rock was over stretching itself??????
thats because the are long lunch agenda driven ponces who have ten people to read the news when one would do in any 'real' job!
you read one line and your woman partner (cant be two men or two women
) will read the next... jack-o-fo*kin-nory
gobshite journos who have never done a days real work in their agenda driven lives. but they will tell you how to do any job better than the expert who might actually do the job
no, i dont like the media
dont panic mr mainwaring..
...
joe, that east west view is old fashioned.
its also very short term because as countries become richer they also spend money on goods. trade creates wealth.
he is 100% right!
they dont cause it as there are clearly other factors but they do scaremonger. they suggest that you cant get a mortgage but that is rubbish.
the banks have withdrawn the cheaper fixed rate deals.. well so would i if i could earn more out of the loan i give out.
banks did not offer this type of mortgage 10ish years ago and certainly not at the rates we have now (a generalisation i know but on the whole its true)
the bbc do soundbite news articles and cause a panic...
think how the credit crunch would affect you if the bbc hadnt told everyone! it wouldnt! or it wouldnt affect you nearly as much.
they did the same with northern rock! i'd say that the bbc caused the run on the bank by spreading the word when realistically NR would have almost certainly have coped.
i'll bet the bbc caused the country to pay out more than ten years of its own licence fees because of the way they reported on this..
if they were so good at their jobs then why didnt they let us all know that northern rock was over stretching itself??????
thats because the are long lunch agenda driven ponces who have ten people to read the news when one would do in any 'real' job!
you read one line and your woman partner (cant be two men or two women
) will read the next... jack-o-fo*kin-nory gobshite journos who have never done a days real work in their agenda driven lives. but they will tell you how to do any job better than the expert who might actually do the job
no, i dont like the media
dont panic mr mainwaring..
...
joe, that east west view is old fashioned.
its also very short term because as countries become richer they also spend money on goods. trade creates wealth.
Panorama went into it in a lot of detail last night ,, was it scaremongering or was there substance in that program ??
I just had my broker out and the best he could get me is Abbey @ 6.09% fixed for 2 years, thats with nearly £1000 fees,, Raises my mortgage by nearly £200
The media dont help IMO but there are problems ahead and its the 1st time buyers who will suffer ..
I just had my broker out and the best he could get me is Abbey @ 6.09% fixed for 2 years, thats with nearly £1000 fees,, Raises my mortgage by nearly £200
The media dont help IMO but there are problems ahead and its the 1st time buyers who will suffer ..
6%
i can remember an old boy who took out an 8% mortgage for the 25 yrs of his term (he was my brother in laws dad)
he told us that everyone told us he was mad to pay so much.. this was at the time when you did you figures on paying between 11% as a low rate and 13% as a high rate.. that was under thatcher in about 1985.. the old boys mortgage was ending around that time and he looked like the smartest man around!
i have been amongst those paying 15%
ive been told that a mortgage does not pay off if its 15.25%
6% is cheap! i have just renewed two separate mortgages but the bbc would have you believe that there are none available!
that is not the case.
if you were a bank, you would not offer a fixed rate when you dont know whats around the corner. you might offer a cheap variable rate so you and your cosy banker mates can manipulate how much they get back from your punters.
it affects a few people like my 24 yr old nephew, whos dozy cow of a mrs had to have the leather sofa, the convertable beetle and sooper dooper cooker on their mortgage.. madness..
if he panics now then he will lose a fortune and the only winners are banks and speculators.
if the bbc had to back up what they report then they would be sued out of business!
i do actually mean the news rather than shows like panorama. that is usually more considered.
i do not deny there is a problem caused by banks greed but how its reported decideds how long it lasts and how much it hurts!
i can remember an old boy who took out an 8% mortgage for the 25 yrs of his term (he was my brother in laws dad)
he told us that everyone told us he was mad to pay so much.. this was at the time when you did you figures on paying between 11% as a low rate and 13% as a high rate.. that was under thatcher in about 1985.. the old boys mortgage was ending around that time and he looked like the smartest man around!
i have been amongst those paying 15%
ive been told that a mortgage does not pay off if its 15.25% 6% is cheap! i have just renewed two separate mortgages but the bbc would have you believe that there are none available!
that is not the case.
if you were a bank, you would not offer a fixed rate when you dont know whats around the corner. you might offer a cheap variable rate so you and your cosy banker mates can manipulate how much they get back from your punters.
it affects a few people like my 24 yr old nephew, whos dozy cow of a mrs had to have the leather sofa, the convertable beetle and sooper dooper cooker on their mortgage.. madness..
if he panics now then he will lose a fortune and the only winners are banks and speculators.
if the bbc had to back up what they report then they would be sued out of business!
i do actually mean the news rather than shows like panorama. that is usually more considered.
i do not deny there is a problem caused by banks greed but how its reported decideds how long it lasts and how much it hurts!
You make me feel lucky now
Maybe if we start a thread on mortgage rates to see who has just renewed like me and what rate they got !!
Maybe if we start a thread on mortgage rates to see who has just renewed like me and what rate they got !!
i'd have to ask the mrs
we are lucky now!
them old tory boys dont mention when it was 15%
they pretend it was all rosy.
tory bankers in every country start this stuff. the gullible bbc report and make it worse and the tory bankers in every country earn shead loads while everybody else suffers.
tory bankers hurt john major back in the day and tory bankers will screw us over now! thats the way it is and the way it will always be
if this is not so then why dont the banks use base rate? cos they earn more money by ignoring it!
why dont the bbc expose the men who make the money when it all goes to shi**
they cant because their at lunch!
we are lucky now!
them old tory boys dont mention when it was 15%
they pretend it was all rosy.
tory bankers in every country start this stuff. the gullible bbc report and make it worse and the tory bankers in every country earn shead loads while everybody else suffers.
tory bankers hurt john major back in the day and tory bankers will screw us over now! thats the way it is and the way it will always be
if this is not so then why dont the banks use base rate? cos they earn more money by ignoring it!
why dont the bbc expose the men who make the money when it all goes to shi**
they cant because their at lunch!
I get ya point ,, its not surprising every body has the look after No1 attitude these days
Im gonna start that thread
Im gonna start that thread
O
oompah
AtoZ";p="881721 said:
Is that a prejudice i can smell?
So it wasn't in Murdoch's papers? Or ITN or Sky?i
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Can anyone tell me (JohnD maybe) why the official inflation figure is at about 3% yet in the past year petrol has risen 20%, food 12% Gas 17% Electricity 14%? Surely the real inflation figure must be in double digits? Anyone know?
i renewed 12 months ago on a fixed rate of 5.5% for 5 yrs.
there was no inkling of a c.c. then but i was certainly nervous about current levels of borrowing.
my mortgage is the only money i owe.
i am fortunate in the fact i have extended my house without borrowing and am currently sitting on a lot of equity.
those people who have foolishly propped up their finances on outrageous house valuations must be feeling pretty sick at the moment.
i have always bought things i can afford or saved up for them. old fashioned but wise.
there was no inkling of a c.c. then but i was certainly nervous about current levels of borrowing.
my mortgage is the only money i owe.
i am fortunate in the fact i have extended my house without borrowing and am currently sitting on a lot of equity.
those people who have foolishly propped up their finances on outrageous house valuations must be feeling pretty sick at the moment.
i have always bought things i can afford or saved up for them. old fashioned but wise.
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