Reply to: Sign of Times: Bankruptcies rise to new record

[Bagpuss]

I was interested in what people were saying about the economy while it appeared to be booming.

I was inspired by that quote DimPrawn (?) uses in his sig from s*******y about house-prices rising forever.

I remember saying the housing bubble would pop and the level of borrowing was madness and would end in disaster years ago and being told by many it was all rational supply and demand, different this time etc. Things have proved worse than I could have imagined.

[Spacecadet]

Whatever happened to Rebecca Loos?

sharing a bed sit with Sayara Beg

[Doggy Styles]

What made you search so far back?

I was interested in what people were saying about the economy while it appeared to be booming.

I was inspired by that quote DimPrawn (?) uses in his sig from s*******y about house-prices rising forever.

[BrilloPad]

What made you search so far back?

SEarching for loos?

[Bagpuss]

What made you search so far back?

[Doggy Styles]

it's all a good thing really.

Who's losing out in a bankrupcy? Creditors.

So with dozens of thousands of bankrupcies, I feel there will be a lot of creditors going under too

Which means credit will be less available in the future

Which is good

@rebecanomics 2005

Whatever happened to Rebecca Loos?

[Sysman]

And the Panama one in Scotland made them get rid of their parliament and go cap in hand to England.

Potted history of that here:

http://www.bbc.co.uk/history/state/n...arien_01.shtml

[threaded]

And the Panama one in Scotland made them get rid of their parliament and go cap in hand to England.

[stackpole]

it's all a good thing really.

Who's losing out in a bankrupcy? Creditors.
So with dozens of thousands of bankrupcies, I feel there will be a lot of creditors going under too
Which means credit will be less available in the future
Which is good

@rebecanomics 2005

Rebecca, three questions:

1. How many mortgage companies, credit card companies or banks do you think will go under?

2. Who do you think will end up paying for all those bad debts?

3. How often in history has the bursting of a massive debt bubble, anywhere in the developed world, not been very painful for all concerned?

[polski]

I'm in it

Well,
after Y2K I ended up permie, but suffering from a contractor lifestyle, borrowed from Peter to pay Paul.

Now in an IVA, facing years on uncreditworthiness.

perhaps bankruptcy was a better option.

[Sysman]

it's all a good thing really.

Really?

Who's losing out in a bankrupcy? Creditors.
So with dozens of thousands of bankrupcies, I feel there will be a lot of creditors going under too

Sure you'll feel the same when one or more of your customers goes bust?

[Rebecca Loos]

it's all a good thing really.

Who's losing out in a bankrupcy? Creditors.
So with dozens of thousands of bankrupcies, I feel there will be a lot of creditors going under too
Which means credit will be less available in the future
Which is good

@rebecanomics 2005

[AlfredJPruffock]

Ironic that the UK wanted to lecture Germany on the merits of the NL WunderWerkSchaft .... what a load of old tosh !

[sunnysan]

Vicous circle

Well it the availablity of credit whihc has fuelled inflation in the first.

The reaction to lenders to this will be to be a little bit more selctive about who they lend too.

Hoever cue the govt who will in order to curry favour with an ever endebted electorate, will relax the bankruptcy laws so that people will rather go bankrupt than repay their debts.

So all the lender will charge the poeple that are lending responsibly more

And who said the govt never fixed anything

[milanbenes]

property isn't a problem is it ?

don't you just transfer the house to another family member and then pull the rip cord ?

Milan.