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Post by yorkshireman on Jan 20, 2016 11:43:37 GMT
Sounds as if they’ve been using Mr Micawber’s hopeful approach: “welcome poverty, welcome misery, welcome houselessness, welcome hunger, rags, tempest, and beggary! Mutual confidence will sustain us to the end!” From the first article: “Mr White said QE and easy money policies by the US Federal Reserve and its peers have had the effect of bringing spending forward from the future in what is known as "inter-temporal smoothing". It becomes a toxic addiction over time and ultimately loses traction. In the end, the future catches up with you. "By definition, this means you cannot spend the money tomorrow," he said.” I’ve heard plenty of bullsh*t from the financial sector over the years but "inter-temporal smoothing" is a new one.  The better known “Micawber Principle” still holds good today: "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery." 
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registerme
Member of DD Central
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Post by registerme on Jan 20, 2016 12:10:20 GMT
I’ve heard plenty of bullsh*t from the financial sector over the years but "inter-temporal smoothing" is a new one. He's saying that it's like "Black Friday" sales not adding to retailers net sales, just bringing them forwards. I'm not sure if I agree with him or not though  .
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Post by yorkshireman on Jan 20, 2016 16:25:23 GMT
I’ve heard plenty of bullsh*t from the financial sector over the years but "inter-temporal smoothing" is a new one. He's saying that it's like "Black Friday" sales not adding to retailers net sales, just bringing them forwards. I'm not sure if I agree with him or not though . The BS I refer to is the terminology used, "inter-temporal smoothing" not the actual content of the article in this case!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 20, 2016 18:10:40 GMT
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Post by yorkshireman on Jan 21, 2016 0:49:19 GMT
Sounds rather like vested interests trying to talk up the property market, in other words, more BS.
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adrianc
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Post by adrianc on Jan 21, 2016 8:50:21 GMT
Sounds rather like vested interests trying to talk up the property market Surely such a thing could never happen, especially in a journal so trustworthy as the Daily Telegraph? <faints>
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Post by ravado on Jan 21, 2016 14:09:09 GMT
Forget the Telegraph. I'm waiting to see what the Daily Mail says before making any life-changing financial decisions! |
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adrianc
Member of DD Central
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Post by adrianc on Jan 21, 2016 18:50:02 GMT
Forget the Telegraph. I'm waiting to see what the Daily Mail says before making any life-changing financial decisions! Look, we already KNOW it's Johnny Foreigner's fault...
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Post by westonkevRS on Jan 21, 2016 20:03:04 GMT
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kaya
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Post by kaya on Jan 23, 2016 12:23:05 GMT
The truth is, the 'crash' of 2008 has never ended, it still continues, and its contagion is gradually spreading over the whole globe.  It may now be approaching its next major phase, who knows, but there can never be any return to what once was. The gravy-train continues unchanged for the ultra-rich, of course, but there will be no general 'recovery'. Ultimately, never-ending economic growth - and expolitation, and greed - upon which the whole of civilization really depends, is obviously unsustainable, and complete economic collapse is an inevitable, eventual, certainty.  Some of the first casualties will be in peer-to-peer lending - a very new and untested form of money-market - and the so-called 'secured' property loans may well be the first to collapse. Eventually, however, not even your government-guaranteed money in the bank will be safe, or even worth anything at all.  Sorry to be so negative, but sometimes the truth hurts! Self-delusion is always easier.  Nothing you can do about it anyway, so sit back, relax, and be free! |
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Steerpike
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Post by Steerpike on Jan 23, 2016 12:46:18 GMT
The truth is, the 'crash' of 2008 has never ended, it still continues, and its contagion is gradually spreading over the whole globe. It may now be approaching its next major phase, who knows, but there can never be any return to what once was. The gravy-train continues unchanged for the ultra-rich, of course, but there will be no general 'recovery'. Ultimately, never-ending economic growth - and expolitation, and greed - upon which the whole of civilization really depends, is obviously unsustainable, and complete economic collapse is an inevitable, eventual, certainty. Some of the first casualties will be in peer-to-peer lending - a very new and untested form of money-market - and the so-called 'secured' property loans may well be the first to collapse. Eventually, however, not even your government-guaranteed money in the bank will be safe, or even worth anything at all. Sorry to be so negative, but sometimes the truth hurts! Self-delusion is always easier. Nothing you can do about it anyway, so sit back, relax, and be free! Any tips for the 3:15 at Haydock Park?
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SteveT
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Post by SteveT on Jan 23, 2016 13:03:50 GMT
kaya, is it your relentless positivity that keeps you going? 
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agent69
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Post by agent69 on Jan 23, 2016 13:15:34 GMT
The truth is, the 'crash' of 2008 has never ended, it still continues, and its contagion is gradually spreading over the whole globe. It may now be approaching its next major phase, who knows, but there can never be any return to what once was. The gravy-train continues unchanged for the ultra-rich, of course, but there will be no general 'recovery'. Ultimately, never-ending economic growth - and expolitation, and greed - upon which the whole of civilization really depends, is obviously unsustainable, and complete economic collapse is an inevitable, eventual, certainty. Some of the first casualties will be in peer-to-peer lending - a very new and untested form of money-market - and the so-called 'secured' property loans may well be the first to collapse. Eventually, however, not even your government-guaranteed money in the bank will be safe, or even worth anything at all. Sorry to be so negative, but sometimes the truth hurts! Self-delusion is always easier. Nothing you can do about it anyway, so sit back, relax, and be free! And all this is going to happen in 2016?. Think you've been puffing on too many Moroccan woodbines. Does this mean that you don't have any bank or P2P accounts, and that all your assets are in gold?
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oldgrumpy
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Post by oldgrumpy on Jan 23, 2016 13:15:56 GMT
kaya Here is your new avatar:  Attachments:
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agent69
Member of DD Central
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Post by agent69 on Jan 23, 2016 13:27:17 GMT
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.
It may now be approaching its next major phase, who knows, but there can never be any return to what once was. 
Some of the first casualties will be in peer-to-peer lending - a very new and untested form of money-market - and the so-called 'secured' property loans may well be the first to collapse. Eventually, however, not even your government-guaranteed money in the bank will be safe, or even worth anything at all. 
Nothing you can do about it anyway, so sit back, relax, and be free! 
