Doom in the "real" economy

[AtW]

How did SG know that prices would fall?

sas is not an idiot and he called peak prices more or less correctly. That would have been fine if he was selling stamps or collectible dog poo, however he sold houses, made massive profit knowing full well (as he should if he could figure out peak price) that in all probability suckets who bought them are going to be ruined for a very long time.

How do you feel about Diver with his 32 BTLs?

I feel fine for a few reasons - first Diver is a nice chap, secondly he keeps his BTLs right now which increases market for rents, thirdly he was not working in the City so the money that he earned to buy BTL were at least more or less clean. More importantly I think Diver has got human conscience and he would have at least felt a bit sorry for poor wretches who would have bought his houses on top of the market.

[AtW]

Surely it is the labour government who encouraged reckless borrowing who are to blame?

Yes, they are #1 responsible party. However they are not the only one. People made huge bonuses in the City in recent years trading this leveraged derivatives junk - in a way they are worse than Labour who only did that to keep their MP positions, at least Brown was not paying himself millions in bonuses.

[DiscoStu]

sas is not an idiot and he called peak prices more or less correctly. That would have been fine if he was selling stamps or collectible dog poo, however he sold houses, made massive profit knowing full well (as he should if he could figure out peak price) that in all probability suckets who bought them are going to be ruined for a very long time.

Isn't the basis of the entire capitalist system getting a maximum return for your investment?

[sasguru]

sas is not an idiot and he called peak prices more or less correctly. That would have been fine if he was selling stamps or collectible dog poo, however he sold houses, made massive profit knowing full well (as he should if he could figure out peak price) that in all probability suckets who bought them are going to be ruined for a very long time.



I feel fine for a few reasons - first Diver is a nice chap, secondly he keeps his BTLs right now which increases market for rents, thirdly he was not working in the City so the money that he earned to buy BTL were at least more or less clean. More importantly I think Diver has got human conscience and he would have at least felt a bit sorry for poor wretches who would have bought his houses on top of the market.

You sound like the arrested adolescent you are.
And clearly communism has scarred you for life as you can't see the basic idea that this society is based on - people take responsibility for their own actions. There is a legal term for this when it comes to buying and selling:
Caveat Emptor

[AtW]

Isn't the basis of the entire capitalist system getting a maximum return for your investment?

Let's get children to dig coal then? Oh wait that already happened!

[HairyArsedBloke]

in all probability suckets who bought them are going to be ruined for a very long time.
.

[AtW]

you can't see the basic idea that this society is based on - people take responsibility for their own actions.

It is you who can't grasp this idea actually.

It is me who talks about responsibility for their own actions - people in the City who were responsible for current problems, or someone like you who does not have any conscience at all - I am not suprised you work in the City actually, but it certainly won't be for long.

[BrilloPad]

I feel fine for a few reasons - first Diver is a nice chap, secondly he keeps his BTLs right now which increases market for rents, thirdly he was not working in the City so the money that he earned to buy BTL were at least more or less clean. More importantly I think Diver has got human conscience and he would have at least felt a bit sorry for poor wretches who would have bought his houses on top of the market.

He certainly seems to be the only one round here who thinks you are a nice guy. I wish I could work out why......

I do love the way you make SG out as some sort of economic genius - calling the top of the market. Why don't you listen to him?

[BrilloPad]

Let's get children to dig coal then? Oh wait that already happened!

Are there still openings for that? Might stop the number of obesity cases in this country.......

[oracleslave]

He certainly seems to be the only one round here who thinks you are a nice guy.

Add me to the list