Is The Economy About To Crash?
27 February 2009, 03:03 PM
#91
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27 February 2009, 03:08 PM
#93
A house price crash was foreseeable, sure, but come on, with the notable exception of Nouriel Roubini, did anyone really see a crisis of this magnitude coming 4 or 5 years ago? We didn't so much sleep-walk into this crisis as charge into it with seemingly unquestioning belief that the City could be trusted to sprinkle pixie dust and make billions for the exchequer.
Well search my posts then
my crystal ball foresaw this tale of woe back when I joined. Maybe I was just pissing in the wind and got lucky though
27 February 2009, 03:13 PM
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I'll be happy to be proved wrong, but I can't remember anyone predicted a credit crunch in 2004/2005.
01 March 2009, 11:11 AM
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01 March 2009, 11:41 AM
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It's great to dig up some of the old posts from a year ago!!!
LOL you really are on the Mogadon! Your ridiculous doom laden prophesies are as wrong now as they were 6 months ago, and one year ago, and 2 years ago, and 3 years ago etc etc etc etc etc etc etc.....
This is not like the 30s depression, as any 1st year student of economics realises. Not saying there aren't problems, but the overblown nature of these statements don't hold up to closer examination
As I was saying warrenm2 ....
As we now know, you could've done worse - but not by much!
Originally Posted by Petem95
Originally Posted by Petem95 View Post
Things were always going to go pop sooner or later, and the longer all this debt binging (creating an illusion of wealth built on debt) went on for the bigger the pop..... and it went on for a hell of a long time!!
Many economists are saying this is already the most serious financial crisis since the Great Depression of the 30's, and it looks set to potentially get much worse.
They are talking about a collapse of the financial system, not just a recession.
Things were always going to go pop sooner or later, and the longer all this debt binging (creating an illusion of wealth built on debt) went on for the bigger the pop..... and it went on for a hell of a long time!!
Many economists are saying this is already the most serious financial crisis since the Great Depression of the 30's, and it looks set to potentially get much worse.
They are talking about a collapse of the financial system, not just a recession.
This is not like the 30s depression, as any 1st year student of economics realises. Not saying there aren't problems, but the overblown nature of these statements don't hold up to closer examination
....
Originally Posted by fast bloke (March '08)
If you had 500k that you could have a blast with, you could do worse than get into American property in another few months
01 March 2009, 11:46 AM
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01 March 2009, 11:58 AM
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