You know what the question is......... The older I get, the more I realise that people confuse wrinkles for wisdom
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7th Oct 2008 10:02 pm
blue meanie D3 Decade
Member Since: 04 Aug 2005
Location: Newbury
Posts: 6861
you need an 'a' and 'b' option J and theeeeennn......???
Looks lke RonP has cast his vote then The older I get, the more I realise that people confuse wrinkles for wisdom
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Club Orange, Mint or Fruit
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7th Oct 2008 10:32 pm
crews control
Member Since: 18 Mar 2007
Location: Dorset
Posts: 5011
Mortgage lenders in the US who were on massive commission for arranging loans irrespective of whether it was possible for the borrower to make payments. 10x income to someone on $20K working at maccydee's only works while the property prices are rising rapidly. When that stops - it all crumbles. (And the banks for continuing to trade these loans around the world without due care) We'll all be back to the barter system soon!
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7th Oct 2008 10:32 pm
Gareth Site Moderator
Member Since: 07 Dec 2004
Location: Bramhall
Posts: 26774
8)
7th Oct 2008 10:33 pm
zaphod
Member Since: 18 Sep 2007
Location: Magrathea
Posts: 357
Agreed, A & B.
Banks should have been protecting people who are too stupid to make financial decisions for themselves, not encouraging them with 125% mortgages Sail Fast - Live Slow...
plenty of people who haven't borrowed will find themselves looking for work off the back of this Alex.
Crews Control has got closest to root cause, but there are so many contributing factors that I think it will be a generation before the story is fully understood.
I'm stocking up on tinned food and firewood.....I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
There's a well under the floorboards in our living room I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
8th Oct 2008 11:19 am
Gareth Site Moderator
Member Since: 07 Dec 2004
Location: Bramhall
Posts: 26774
I think I might sell the oil I bought last week, and buy some gold bars.
8th Oct 2008 11:26 am
catweasel
Member Since: 05 May 2006
Location: Bundaleer
Posts: 4805
I was going to buy a third house and take a 6week holiday to New Zealand, guess I'll have to wait a couple of weeks
might just put on some camo gear and go bush with me mates for a few weeks instead while I wait for this so called crunch to appear.
I believe the banks got greedy - lending mmoney to anyone.
Credit and therfore debt has become a way of life for most people over the last 10 years or so.Too much intellectual firepower can damage your common sense.
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