Tories admit Labour did NOT cause the Great Recession

[Fletch]

Jesus, how many more times.
The banks didn't set the rates.
Lending is their business but they have to make a profit for their shareholders.
If you're going to blame banks then you also have to blame those who took out mortgages beyond their means.

Who offered the loans? Who upped the multiple of income and who accepted people for 100% mortgages, sometimes even higher with a cash back?

The bank's bank, the Central bank, Bank of England set interest rates. Also private balance sheet with private interests up-holding the debt based lending system of money.

Who forced people to take up those loans?
I repeat, banking is a business, they will do what they need to to get back on their investments.
Low rates meant they don't make much profit so they had to increase their yield by selling ridiculous loans.
Why did the BoE set the rates low? Because of the federal reserve bank, and their chairman admitted the error.

Don't start with the it's all about starting wars and all that sinister shit. I'm not interested in CTs.

Rates are set for a number of reasons, the lower the better for growth and business. The collapse wasn't due to interest rates suddenly rising like on black wednesday,. It was the interconnection (and conniving) of world banking. Banks in pretty much all countries suffered, it wasn't a uk based issue. It was a failure of the system of money (banking) and will happen again. (ever rising unpayable debt)

So no lessons will be learnt from this then?
Just like no lessons were learnt from the depression of 1930s.
You just love the conniving theories don't you? Fuck knows why you cling onto that crap, you've gone a bit weird from dwelling in the wilderness I reckon.
Don't just read stuff, think, listen, apply to reality,

Pack in all the aggressive shit, no need for it. You either want to discuss banking, warts and all, or you don't.

[Big Fat Frosty]

lessons were learned..
how to fuck over the next generation.
and the next and the next

[Fletch]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Until this version of FIAT money collapses, like every other version. Designed to enslave the many through debt and enrich the few. No CT, look at the history of FIAT money.

[Lady Murasaki]

Pack in all the aggressive shit, no need for it. You either want to discuss banking, warts and all, or you don't.

Shall we talk lizard people now?

[Lady Murasaki]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

[Lady Murasaki]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Until this version of FIAT money collapses, like every other version. Designed to enslave the many through debt and enrich the few. No CT, look at the history of FIAT money.

When was the last time everyone in the world was equal?

[Fletch]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Which is?

It was a liquidity issue that caused the collapse, not an interest issue. No lizards and no simplistic explanation that you want to pursue either.

[Lady Murasaki]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Which is?

It was a liquidity issue that caused the collapse, not an interest issue. No lizards and no simplistic explanation that you want to pursue either.

Entrenched.

[Fletch]

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Which is?

It was a liquidity issue that caused the collapse, not an interest issue. No lizards and no simplistic explanation that you want to pursue either.

Entrenched.

Why did banks have to nearly close their doors? (24 hours from closing)

Why did banks have to reign in their lending/loans?

Why did banks create 'bad banks' and business debt management sections? (RBS)

[Guest]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Why don't you womansplain the answers to us then, if you believe you know what they are? Clearly our tiny little male brains need help in understanding.
TIA.

[Lady Murasaki]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Why don't you womansplain the answers to us then, if you believe you know what they are? Clearly our tiny little male brains need help in understanding.
TIA.

I have. But this lot can't do the maths.

[Cannydc]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Why don't you womansplain the answers to us then, if you believe you know what they are? Clearly our tiny little male brains need help in understanding.
TIA.

I have. But this lot can't do the maths.

That sounds a lot like "I can't find anyone who agrees with me, so I'll throw my toys out of the cot"

My last word on the subject is from a study on this subject, presented at the Royal Economic Society's annual conference at the University of Bristol in April 2017.

The research tracks the movement of house prices from the late 1980s to the mid-2000s, and finds that neither demand-side factors such as household income, mortgage rates and credit availability, or the supply of new houses explain price rises during some of that period.

"In particular, the analysis demonstrates that economic fundamentals fail to explain the behaviour of UK regional property prices in the late 1980s and mid-2000s. Interestingly, during these time periods, prices exhibited explosive dynamics, which is in accordance with speculative bubbles in housing markets.

By examining in detail the timeline of price dynamics, we demonstrate that there was a synchronisation of explosive episodes across regional housing markets, leading to house price exuberance at the national level.

Further, we show that the pattern of propagation is consistent with the notion of the so-called ripple effect. Specifically, house price exuberance emanated from Greater London and spread out northward, affecting neighbouring regions with a time lag."

So, not interest rates. As I said on more than one occasion a housing bubble fueled by buyer exuberance and media frenzy - remember the Daily Princess featuring house price rises as front page lead headlines for 2 months without a break.

http://www.res.org.uk/details/mediabrie ... -BOOM.html

[Rolluplostinspace]

Who forced people to take up those loans?
I repeat, banking is a business, they will do what they need to to get back on their investments.
Low rates meant they don't make much profit so they had to increase their yield by selling ridiculous loans.
Why did the BoE set the rates low? Because of the federal reserve bank, and their chairman admitted the error.

Don't start with the it's all about starting wars and all that sinister shit. I'm not interested in CTs.

Rates are set for a number of reasons, the lower the better for growth and business. The collapse wasn't due to interest rates suddenly rising like on black wednesday,. It was the interconnection (and conniving) of world banking. Banks in pretty much all countries suffered, it wasn't a uk based issue. It was a failure of the system of money (banking) and will happen again. (ever rising unpayable debt)

Just like no lessons were learnt from the depression of 1930s.
,

In the 30's we learned quickly and America enacted the Glass Steagal act to make sure the bankers could never crash the economy again.
Bill Clinton removed the act and it happened again

[Rolluplostinspace]

"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
Josiah Stamp, 1st Baron Stamp

[Fletch]

lessons were learned..
how to fuck over the next generation.
and the next and the next

Given up already?
The answers don't have to be complicated but you lot are so entrenched in your opinions you can't see the simplicity of it all.

Why don't you womansplain the answers to us then, if you believe you know what they are? Clearly our tiny little male brains need help in understanding.
TIA.

I have. But this lot can't do the maths.

That sounds a lot like "I can't find anyone who agrees with me, so I'll throw my toys out of the cot"

My last word on the subject is from a study on this subject, presented at the Royal Economic Society's annual conference at the University of Bristol in April 2017.

The research tracks the movement of house prices from the late 1980s to the mid-2000s, and finds that neither demand-side factors such as household income, mortgage rates and credit availability, or the supply of new houses explain price rises during some of that period.

"In particular, the analysis demonstrates that economic fundamentals fail to explain the behaviour of UK regional property prices in the late 1980s and mid-2000s. Interestingly, during these time periods, prices exhibited explosive dynamics, which is in accordance with speculative bubbles in housing markets.

By examining in detail the timeline of price dynamics, we demonstrate that there was a synchronisation of explosive episodes across regional housing markets, leading to house price exuberance at the national level.

Further, we show that the pattern of propagation is consistent with the notion of the so-called ripple effect. Specifically, house price exuberance emanated from Greater London and spread out northward, affecting neighbouring regions with a time lag."

So, not interest rates. As I said on more than one occasion a housing bubble fueled by buyer exuberance and media frenzy - remember the Daily Princess featuring house price rises as front page lead headlines for 2 months without a break.

http://www.res.org.uk/details/mediabrie ... -BOOM.html

And with the loosening of eligibility by increasing earnings multiples, self cert mortgages and no deposit, 100% LTV and even higher with cash back mortgages, the clamour created about 'getting on the housing ladder' and the bounty of buy to let being sold as easy money, there was no shortage of people willing to take up bank's offerings. The public attitude of 'house prices never go down' and remortgaging to enable new cars, fancy holidays and any other desires were also well catered for. Of course, the 'free money' because the house price rose was only the owner/s landing themselves with more debt.