The UK has gone to the dogs...what does this mean?
May 19th 2009, 4:58 am
#94
The Kwisatz Haderach
Joined: Aug 2008
Location: North Wales
Posts: 8,080
Re: The UK has gone to the dogs...what does this mean?
Doesn't mean we can't compare, doom and gloom is everywhere and limiting the conversation to one country seems like you are trying to make it sound like the world is hunky dory, 'cept for the UK.
May 19th 2009, 5:01 am
#95
BE Enthusiast
Joined: Jul 2004
Location: Perth, WA
Posts: 743
Re: The UK has gone to the dogs...what does this mean?
I'm discussing the UK because that is what I have knowledge of, I don't have indepth knowledge of America or Australia, so I'm not able to compare
May 19th 2009, 5:02 am
#96
Account Open
Joined: Jan 2005
Location: Brisbane
Posts: 4,298
Re: The UK has gone to the dogs...what does this mean?
For anyone interested, this is an interesting (if lengthy) article by the NY Times economics editor - "my personal credit crisis".
http://www.nytimes.com/2009/05/17/ma...pagewanted=all
http://www.nytimes.com/2009/05/17/ma...pagewanted=all
May 19th 2009, 5:07 am
#97
Banned
Thread Starter
Joined: Jul 2008
Posts: 1,769
Re: The UK has gone to the dogs...what does this mean?
I'm not saying no to any debt.
Yes debt is ok and is needed, but only when it can be serviced and paid back. When people aren't able to management debt and don't know when to stop spending and then can't pay back the interest/debt that is what causes the problem.
The sub-prime loan problem has shown that many many people aren't able to management debt. Therefore credit card and loan companies need to be stopped from lending too much money to these people ... and NULabour and Brown should be taken to task for not having done anything about it before the sub-prime problem occurred.
Yes debt is ok and is needed, but only when it can be serviced and paid back. When people aren't able to management debt and don't know when to stop spending and then can't pay back the interest/debt that is what causes the problem.
The sub-prime loan problem has shown that many many people aren't able to management debt. Therefore credit card and loan companies need to be stopped from lending too much money to these people ... and NULabour and Brown should be taken to task for not having done anything about it before the sub-prime problem occurred.
May 19th 2009, 5:08 am
#98
The Kwisatz Haderach
Joined: Aug 2008
Location: North Wales
Posts: 8,080
Re: The UK has gone to the dogs...what does this mean?
I was just giving an example of how it's not that bad in UK. It could be worse, you could get all your unemployment benefits cut off after so many weeks and live in a tent by the motorway and walk to the loaves and fishes food bank for a meal each day (if you get in line early enough)
May 19th 2009, 5:09 am
#99
Account Closed
Joined: Apr 2006
Posts: 10,784
Re: The UK has gone to the dogs...what does this mean?
Aren't you in OZ?
I was just giving an example of how it's not that bad in UK. It could be worse, you could get all your unemployment benefits cut off after so many weeks and live in a tent by the motorway and walk to the loaves and fishes food bank for a meal each day (if you get in line early enough)
I was just giving an example of how it's not that bad in UK. It could be worse, you could get all your unemployment benefits cut off after so many weeks and live in a tent by the motorway and walk to the loaves and fishes food bank for a meal each day (if you get in line early enough)
May 19th 2009, 5:09 am
#100
The Kwisatz Haderach
Joined: Aug 2008
Location: North Wales
Posts: 8,080
May 19th 2009, 5:11 am
#101
The Kwisatz Haderach
Joined: Aug 2008
Location: North Wales
Posts: 8,080
Re: The UK has gone to the dogs...what does this mean?
They've all been taken to the pound, homeless shelters don't accept animals, you should be safe 
Shouldn't laugh, it's really sad for the animals too.
We have taken in a neighbors cat, they moved and left it behind, poor homeless kitty.
Shouldn't laugh, it's really sad for the animals too.
We have taken in a neighbors cat, they moved and left it behind, poor homeless kitty.
May 19th 2009, 5:19 am
#102
BE Enthusiast
Joined: Jul 2004
Location: Perth, WA
Posts: 743
Re: The UK has gone to the dogs...what does this mean?
Aren't you in OZ?
I was just giving an example of how it's not that bad in UK. It could be worse, you could get all your unemployment benefits cut off after so many weeks and live in a tent by the motorway and walk to the loaves and fishes food bank for a meal each day (if you get in line early enough)
I was just giving an example of how it's not that bad in UK. It could be worse, you could get all your unemployment benefits cut off after so many weeks and live in a tent by the motorway and walk to the loaves and fishes food bank for a meal each day (if you get in line early enough)
May 19th 2009, 5:19 am
#103
Banned
Thread Starter
Joined: Jul 2008
Posts: 1,769
Re: The UK has gone to the dogs...what does this mean?
For anyone interested, this is an interesting (if lengthy) article by the NY Times economics editor - "my personal credit crisis".
http://www.nytimes.com/2009/05/17/ma...pagewanted=all
http://www.nytimes.com/2009/05/17/ma...pagewanted=all
May 19th 2009, 5:26 am
#104
Banned
Thread Starter
Joined: Jul 2008
Posts: 1,769
Re: The UK has gone to the dogs...what does this mean?
This created a domino effect across the whole global financial markets hitting investors big and small.
Those who are surviving are those who have manageable debt. This kind of debt is good. It's what creates a cashflow positive economy.
Those who aren't surviving are mostly those who have not policed themselves in their borrowing or spending and who have unmanageable debt levels which they cannot pay. It's this that is now causing the huge losses we are seeing.
The moral of the tale is that it's down to the individual to know the risks they are taking, realise if they are being greedy and if it's worth it and make sure their borrowing stays within the limits of their ability to repay it.
May 19th 2009, 5:41 am
#105
BE Enthusiast
Joined: Jul 2004
Location: Perth, WA
Posts: 743
Re: The UK has gone to the dogs...what does this mean?
They are not much different to anywhere else. It's not the government or banks that have created the crisis. Yes, it started in the US with a handful of corrupt con artists disguised as financial advisors. They signed up vulnerable people into loans by letting them think they could afford them. They were duped.
This created a domino effect across the whole global financial markets hitting investors big and small.
Those who are surviving are those who have manageable debt. This kind of debt is good. It's what creates a cashflow positive economy.
Those who aren't surviving are mostly those who have not policed themselves in their borrowing or spending and who have unmanageable debt levels which they cannot pay. It's this that is now causing the huge losses we are seeing.
The moral of the tale is that it's down to the individual to know the risks they are taking, realise if they are being greedy and if it's worth it and make sure their borrowing stays within the limits of their ability to repay it.
This created a domino effect across the whole global financial markets hitting investors big and small.
Those who are surviving are those who have manageable debt. This kind of debt is good. It's what creates a cashflow positive economy.
Those who aren't surviving are mostly those who have not policed themselves in their borrowing or spending and who have unmanageable debt levels which they cannot pay. It's this that is now causing the huge losses we are seeing.
The moral of the tale is that it's down to the individual to know the risks they are taking, realise if they are being greedy and if it's worth it and make sure their borrowing stays within the limits of their ability to repay it.