Hat-trick, Ian Marchant blog post dt 02/05/2008
Feedback in response to Ian's Blog
Post Title - Hat-trick
Date Posted - 02/05/2008
Name: Joseph George
Department: Technical Solutions
Location: Havant
Comments:
I think the bankers (and hedge funds) are suffering for the excesses that they wreaked on us. The credit crunch has brought down the high-flying financiers down to earth now. And I believe, it is a good thing, for our country and economy, in the long run. I don't weep for them...
Everyone was happy that the house prices were floating up north, but the economics' warnings were not heeded that the housing markets were heating up too much and heading for a crash, which is what has happened. I think what is happening is very realistic. Think of the first-time buyers, not just the sellers.
I live in London suburbs, and the Govt directive was for the local councils to keep increasing the housing stockpile by 20% or more every year. How realistic is that? We were seeing a mini Canary Warf springing up around town!
As for fuel prices, I think, if we denominated them in Pounds rather than Dollars, we would have a more realistic view.
And as for prices going up, every seller (including us?) would look for an opportunity to raise prices!
This is all to be expected in commercial trading...
Humbly yours,
Joseph
PS: Why is America not worried? They wanted the Dollar to come down. They wanted to get rid of bad debts, a sizable portion of their economy. They wanted to kick start their manufacturing industries, spread across middle-America. All this is happening... Good News?
From: Ian Marchant
Date: 06/05/2008 15:20
Subject: Re: Hat-trick
To: Joseph George
Joseph,
As always the seeds of our economic woes were caused by past greed and recklessness.
Ian
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