Zombie Households

[BlasterBates]

So will the UK be full of Zombies?

Bank of England must use QE to buy 'bad mortgages', warns Fathom Consulting - Telegraph

[TimberWolf]

One of the comments:

I have a MBA in Economics and I can read a balance sheet. The average housing price is 5 times average earnings and the historical avaerage is 3 times. So we need a 40% write down. You add the consumer debts of 1.2 Trillion and commercial properties and the M & A activity. We know that that the top 10 banks have debts abroad of 460% of GDP. Over the next 3 years £1,000bn has to be repaid. Where is the money going to come from?

Sounds bad for savers.

[Mich the Tester]

One of the comments:



Sounds bad for savers.

Surely an MBA is in 'Business Administration'? Economics would shirley be an MSc?

I smell bovine faeces.

Plus;

'I have a MBA in Economics and I can read a balance sheet.'

Yes, so can I; I also have a BSc in Geography and I can read a map!

[TimberWolf]

Surely an MBA is in 'Business Administration'? Economics would shirley be an MSc?

I smell bovine faeces.

Plus;

'I have a MBA in Economics and I can read a balance sheet.'

Yes, so can I; I also have a BSc in Geography and I can read a map!

Economics a science? <spits>

[Mich the Tester]

Economics a science? <spits>

Well that's another issue, but afaik if you study Economicwank you get an MSc, not an MBA.

[TimberWolf]

Well that's another issue, but afaik if you study Economicwank you get an MSc, not an MBA.

A bit of Googling suggests you can get an MBA or MSc in economics, with the latter form being drizzled in some dodgy ill conceived pseudo science.

[Mich the Tester]

A bit of Googling suggests you can get an MBA or MSc in economics, with the latter form being drizzled in some dodgy ill conceived pseudo science.

Oh alright, that would make the former just a complete load of then?