Seil Chat

As the money markets enter freefall while politicians worldwide do the headless chicken it becomes apparent that the Emporer is indeed naked.

I feel moved to consult the panel on the following issues:

1/ Is this the death of free-market capitalism?

2/ Are we all doomed?

3/ Are some of us more doomed than others?

1/ Is this the death of free-market capitalism?
Its the triumph of capitalism. Make shed loads of money in good times and when it looks like you're about to lose money get the sucker State (taxpayer) to bail you out and take all your rotten investments off your hands.
2/ Are we all doomed?
No more so than we were by Y2K, BSE, Bird Flu or Global Warming.
3/ Are some of us more doomed than others?
Yes, those of us who believe in personal liberty and lack of interference by the State which will enact all sort of restrictive legislation in the wake of this episode.

Is there any good news?
Absolutely. The "housing as an asset" bubble will implode and house prices will reflect need rather than greed.
I confidently predict that the grossly overinflated house prices on this island will crash over the next twelve months.
As an example I give the Atlantic Cottages (next to the Bridge) one of which is for sale at the moment for an astounding £150,000. I hereby predict that should one of these cottages be on sale in October 2009 the price will be around £50,000.

Long Martin (holiday home by choice)

What's so bad about the state (ie the folk we elect) stopping the public's heard-earned savings from disappearing down the pan, old Shanker?

Spideypoos
I was refering to the bail out of the U.S. banks by setting up an entity to buy their toxic investments. I'm with you on the State guaranteeing our deposits/savings accounts. Fair enough.
BTW your outing of poor old Pantiman this morning was a bit unfair ie naming names.
I subtly outed him a couple of months ago in the thread on housing after he made some chippy comment on people who would buy at Ganavan but I didn't refer to his name, just a couple of his attributes (rabid anti Englishness and wierd beard), so only those who really know him might click.
So, if I wanted to out you Spidey old chap, I would not refer to your name but something far more subtle like, for instance, your love of sheep.

Long Stitch (Knitting by choice)

So, you old Shanker, you don't mind some forms of "lack of liberty and state interference"! You like ranting about the evils of the sucker State (taxpayer) bailing you out and taking all the rotten savings accounts off your hands! How inconsistent of you yet convenient for you, old Shanker.

As to the so-called earlier "outing" of PP, you can hardly be serious, given that his photographic website has his name on it. Silly Shanker.

I'll let the sheep jibe just sit there as a reminder of what a nice guy you are...

Longshanks..............I think you are miles off knowing who I am, not that it really matters to me (I'm comfortable with myself), but if weird beard and rabid anti-Englishness were a couple of my attributes, you've got the wrong Mike with or without an Innish connection.

Now Spider must have diligently trawled through all my photos until he found one of me some 30 years ago.

But you'll never recognise me from that

So Pentland, people think you are who you think I am.....

haha! Seventh that really IS a giveaway! I always had my suspicions!!!

Surely not, PP!! It's hard to believe but I think you're right - he's a real 2-faced git, eh?!

"if weird beard and rabid anti-Englishness were a couple of my attributes, you've got the wrong Mike"

wotever

No P.P I am...NOT who you think I am.... I am somewhat less hairy.

Hirsute.......even?

For a few thousand, CP, you could probably buy Iceland, no?!

what credit crunch???????
what you never had you never miss
and even the polluted air we breathe is free in theory.

so my little loss is not important

Queenie lost 27 million
Spidey??Who Knows

Still living in my caravan mind you lead on church roofs is now a rarity
may have to sell the horse.


The light at the end of the tunnel was an oncominnng train after all
TEDDY