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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 15:31:35 GMT 1, Credit crunch, credit crunch, credit crunch...
Candyman, Candyman, Candyman...
For fucks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the fucking thing is mentioned!
This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed.
But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
Credit crunch, credit crunch, credit crunch...
Candyman, Candyman, Candyman...
For fucks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the fucking thing is mentioned!
This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed.
But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
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dmandpenfold
Junior Member
Posts • 2,466
Likes • 10
December 2006
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Credit crunch, credit crunch, credit crunch, by dmandpenfold on Dec 18, 2007 15:48:58 GMT 1, agreed mostly Mike, the naysayers have been harping on about the next recession being around the corner ever since we left the last one behind. I suspect it's media forces being put to work by the money spinners, banks and governments who fear damaging outcomes down the track, the solution - scare eveyone into thinking a recession is on the way and spending will reduce, loans will reduce, interest rates will come down and we'll all pat ourselves on the back for stopping it before it happens.
Apart from the frankly quite negligent situation the banks have created in the US through the sub prime-loans market and the fact some idiots in other banks in Europe and the UK thought it might be a good idea to buy up this bad debt, the world economy is generally quite strong.
keep harping on and you'll get the self fufilling prophesy, debt is higher, but wages are also higher and there is generally more money going around.
FFS 
agreed mostly Mike, the naysayers have been harping on about the next recession being around the corner ever since we left the last one behind. I suspect it's media forces being put to work by the money spinners, banks and governments who fear damaging outcomes down the track, the solution - scare eveyone into thinking a recession is on the way and spending will reduce, loans will reduce, interest rates will come down and we'll all pat ourselves on the back for stopping it before it happens. Apart from the frankly quite negligent situation the banks have created in the US through the sub prime-loans market and the fact some idiots in other banks in Europe and the UK thought it might be a good idea to buy up this bad debt, the world economy is generally quite strong. keep harping on and you'll get the self fufilling prophesy, debt is higher, but wages are also higher and there is generally more money going around. FFS |
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alvington89
New Member
Posts • 690
Likes • 226
October 2006
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Credit crunch, credit crunch, credit crunch, by alvington89 on Dec 18, 2007 15:54:59 GMT 1, Manchester Mike,
I didn't know there WAS supposed to be a credit crunch until you mentioned it. ;-)
Manchester Mike,
I didn't know there WAS supposed to be a credit crunch until you mentioned it. ;-)
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bill
New Member
Posts • 444
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November 2007
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Credit crunch, credit crunch, credit crunch, by bill on Dec 18, 2007 15:57:30 GMT 1, The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drop across many industies. So it does directly effect the UK and everywhere else.
The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drop across many industies. So it does directly effect the UK and everywhere else.
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burnz
New Member
Posts • 124
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October 2009
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Credit crunch, credit crunch, credit crunch, by burnz on Dec 18, 2007 15:57:54 GMT 1, i say pay by cash and deal with cash not cards  and if you not got it unlucky 
i say pay by cash and deal with cash not cards and if you not got it unlucky |
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Credit crunch, credit crunch, credit crunch, by slowmo on Dec 18, 2007 15:59:00 GMT 1, Actually Mike, I'm beginning to feel the effect, cant get my mortgage offer renewed for anything like I could have just five months ago. My house is now worth 7% less than it was in September apparently and when I get petrol the £1 comes up before the litre!
As such I will now have to put another £200 a month aside for my new mortgage agreement, so will need to save that money from somewhere, this will be mirrored throughout a lot of society I am sure, so expect consumer spending to drop significantly next year (my current disposable income is roughly £1000 a month after bills but will now be £800, food comes out of this too).
If this 20% reduction in my spending is mirrored by say 25% of the country, its gonna be a lean 2008. Not the end of the world at all like some people say, but this credit crunch is very much affecting the UK market.
Oh and a lot of people will start struggling to transfer the full value of their interest free credit card balances too (as I found out last month as well).
Actually Mike, I'm beginning to feel the effect, cant get my mortgage offer renewed for anything like I could have just five months ago. My house is now worth 7% less than it was in September apparently and when I get petrol the £1 comes up before the litre!
As such I will now have to put another £200 a month aside for my new mortgage agreement, so will need to save that money from somewhere, this will be mirrored throughout a lot of society I am sure, so expect consumer spending to drop significantly next year (my current disposable income is roughly £1000 a month after bills but will now be £800, food comes out of this too).
If this 20% reduction in my spending is mirrored by say 25% of the country, its gonna be a lean 2008. Not the end of the world at all like some people say, but this credit crunch is very much affecting the UK market.
Oh and a lot of people will start struggling to transfer the full value of their interest free credit card balances too (as I found out last month as well).
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Rude Copper
Junior Member
Posts • 1,048
Likes • 182
November 2006
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Credit crunch, credit crunch, credit crunch, by Rude Copper on Dec 18, 2007 16:02:59 GMT 1, Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
mike,
unfortunately not, sub prime mortgages are packaged, along with other 'products',into siv's, these are fairly lucrative, in the sense that there is a high return due to higher interest rates charged, banks from all over the world get involved, not just america, yes its an american product ,but the audience & therefore, the aftershock is global,
its naive to think theres not going to be some sort of slump here because of it, there again, you wont know till the banks reveal how much they've been caught for.
Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to... mike, unfortunately not, sub prime mortgages are packaged, along with other 'products',into siv's, these are fairly lucrative, in the sense that there is a high return due to higher interest rates charged, banks from all over the world get involved, not just america, yes its an american product ,but the audience & therefore, the aftershock is global, its naive to think theres not going to be some sort of slump here because of it, there again, you wont know till the banks reveal how much they've been caught for. |
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:03:39 GMT 1, The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drops across many industies. So it does directly effect the UK and everywhere else.
What I was saying is yes there will be a slight knock on, there always is, but the US, whilst being the largest financial market is nothing like it was even a decade ago. There are so many strong markets in the world now that even a major issue in the US doesn't cause a huge amount of problems. Twenty years ago, yes, big problems, global recession. Now, no, we get on with things as does the rest of the world and the US sorts itself out over time (which of course it will)
The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drops across many industies. So it does directly effect the UK and everywhere else. What I was saying is yes there will be a slight knock on, there always is, but the US, whilst being the largest financial market is nothing like it was even a decade ago. There are so many strong markets in the world now that even a major issue in the US doesn't cause a huge amount of problems. Twenty years ago, yes, big problems, global recession. Now, no, we get on with things as does the rest of the world and the US sorts itself out over time (which of course it will) |
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ray
New Member
Posts • 388
Likes • 0
June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:05:27 GMT 1, Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
The credit crunch is pretty much world wide and yes, it has hit the UK. It's all about MBS (mortgage backed securities) and thru greed the list of companies that bought them is worldwide.. Barclaycard has reduced credit limits for 500,000 of its customers.
There have been UK mortgage companies close because of it. Victoria Mortgage comes to mind, A subprime UK company. It's more a liquidity issue than a credit crunch.
Here's a bit of news that came out this morning: "The Bank of England and CBI have issued new warnings about the future health of Britain's economy, expressing concerns about the ongoing credit crisis, and revealing a continued deterioration in business and consumer confidence."
Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to... The credit crunch is pretty much world wide and yes, it has hit the UK. It's all about MBS (mortgage backed securities) and thru greed the list of companies that bought them is worldwide.. Barclaycard has reduced credit limits for 500,000 of its customers. There have been UK mortgage companies close because of it. Victoria Mortgage comes to mind, A subprime UK company. It's more a liquidity issue than a credit crunch. Here's a bit of news that came out this morning: "The Bank of England and CBI have issued new warnings about the future health of Britain's economy, expressing concerns about the ongoing credit crisis, and revealing a continued deterioration in business and consumer confidence." |
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ray
New Member
Posts • 388
Likes • 0
June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:07:02 GMT 1, The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drop across many industies. So it does directly effect the UK and everywhere else.
Bill is a smart man.
The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drop across many industies. So it does directly effect the UK and everywhere else. Bill is a smart man. |
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tommyboy
New Member
Posts • 155
Likes • 5
October 2007
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Credit crunch, credit crunch, credit crunch, by tommyboy on Dec 18, 2007 16:11:24 GMT 1, The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drops across many industies. So it does directly effect the UK and everywhere else. What I was saying is yes there will be a slight knock on, there always is, but the US, whilst being the largest financial market is nothing like it was even a decade ago. There are so many strong markets in the world now that even a major issue in the US doesn't cause a huge amount of problems. Twenty years ago, yes, big problems, global recession. Now, no, we get on with things as does the rest of the world and the US sorts itself out over time (which of course it will)
thats exactly what they said in the late 80's
Things are diferent now, but in no way are we safe
at the start of this year no one would have predicted a run on a british bank, but it happened
The only thing I would like to mention is that the US is the largest financial market in the world and if you don't think it has a direct effect on the worlds economies you are sadly mistaken. Banks in the UK and throughout the world buy US mortgage backed securities. Also there are many investors throughout the world that invest in stocks, bonds and other US investment products. When those investors see the depression in value their portfolio has taken consumer spending falls, thus topline revenues drops across many industies. So it does directly effect the UK and everywhere else. What I was saying is yes there will be a slight knock on, there always is, but the US, whilst being the largest financial market is nothing like it was even a decade ago. There are so many strong markets in the world now that even a major issue in the US doesn't cause a huge amount of problems. Twenty years ago, yes, big problems, global recession. Now, no, we get on with things as does the rest of the world and the US sorts itself out over time (which of course it will) thats exactly what they said in the late 80's Things are diferent now, but in no way are we safe at the start of this year no one would have predicted a run on a british bank, but it happened |
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:12:50 GMT 1, Ray -
It's all confidence, the economic cycle, banks love to cause confidence crises, they get their money back in that way
I suppose it's all the point of view you take, as with everything there are two ways to look at the market, and the way I see it, we'll be fine... again as long as we don't panic wildly (as we are wont to do!)
Ray - It's all confidence, the economic cycle, banks love to cause confidence crises, they get their money back in that way I suppose it's all the point of view you take, as with everything there are two ways to look at the market, and the way I see it, we'll be fine... again as long as we don't panic wildly (as we are wont to do!) |
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Credit crunch, credit crunch, credit crunch, by Filipino Box Spring Hog on Dec 18, 2007 16:16:09 GMT 1, i say pay by cash and deal with cash not cards and if you not got it unlucky
In theory, I agree. However, in the US if you do not establish credit by using credit cards, taking out student loans, making installed payments on things....automobiles and whatnot, mortgage payments, etc....you will have no credit and when push comes to shove and you need a loan for something most folks don't have the cash upfront for (say a house to live in and call your own, for example) if you don't have a credit (i.e. debt and payment of debt) history, you will not get a home and will forever be lining someone else's pockets with your hard earned cash. I wish I had enough cash to purchase my home outright .... alas, I don't.
On a sidenote, I worked as a mortgage broker years ago and left the business just as all of the A paper loans were coming to an end and the sub-prime craze took over. Unscrupulous mortgage brokers backed by unscrupulous banks took advantage of some uneducated borrowers who should have stayed clear of the horrible loan terms on mortgages they couldn't afford to begin with. It was obvious what was going to happen. That said, most home owners in the u.s. are not sub-prime borrowers. The market for housing is not as bad as the media has made it out to be - investors who bought into the sub-prime portfolios were morons who didn't have the foresight to see what was going to happen...
The housing market is still very strong in the US - there are many more foreclosures happening than a few years ago and there will be many more to come - however, most of those foreclosures are from people who didn't have money to begin with.
I agree with Mike that the media puts a crazy spin on all of this to instill fear into people and sadly, it works most of the time.
I'm about to sell my home and I will make a healthy profit - maybe 30% of the original purchase price. I purchased it 5 years ago in a town where the economy is healthy. In fact, the state I live in is still yet to show a slide in the value of property.
Anyhow....times are good to buy now - not just for artwork but, for homes as well.....when the economy is on a downturn that is when investors strike - they buy, hold and sell and generally make a killing when the economy turns around...and it surely will.
i say pay by cash and deal with cash not cards and if you not got it unlucky In theory, I agree. However, in the US if you do not establish credit by using credit cards, taking out student loans, making installed payments on things....automobiles and whatnot, mortgage payments, etc....you will have no credit and when push comes to shove and you need a loan for something most folks don't have the cash upfront for (say a house to live in and call your own, for example) if you don't have a credit (i.e. debt and payment of debt) history, you will not get a home and will forever be lining someone else's pockets with your hard earned cash. I wish I had enough cash to purchase my home outright .... alas, I don't. On a sidenote, I worked as a mortgage broker years ago and left the business just as all of the A paper loans were coming to an end and the sub-prime craze took over. Unscrupulous mortgage brokers backed by unscrupulous banks took advantage of some uneducated borrowers who should have stayed clear of the horrible loan terms on mortgages they couldn't afford to begin with. It was obvious what was going to happen. That said, most home owners in the u.s. are not sub-prime borrowers. The market for housing is not as bad as the media has made it out to be - investors who bought into the sub-prime portfolios were morons who didn't have the foresight to see what was going to happen... The housing market is still very strong in the US - there are many more foreclosures happening than a few years ago and there will be many more to come - however, most of those foreclosures are from people who didn't have money to begin with. I agree with Mike that the media puts a crazy spin on all of this to instill fear into people and sadly, it works most of the time. I'm about to sell my home and I will make a healthy profit - maybe 30% of the original purchase price. I purchased it 5 years ago in a town where the economy is healthy. In fact, the state I live in is still yet to show a slide in the value of property. Anyhow....times are good to buy now - not just for artwork but, for homes as well.....when the economy is on a downturn that is when investors strike - they buy, hold and sell and generally make a killing when the economy turns around...and it surely will. |
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dmandpenfold
Junior Member
Posts • 2,466
Likes • 10
December 2006
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Credit crunch, credit crunch, credit crunch, by dmandpenfold on Dec 18, 2007 16:18:14 GMT 1, at the start of this year no one would have predicted a run on a british bank, but it happened
yep and that was bloody ridiculous queuing all day in case the bank folded even after the goverment guaranteed most savings, flapping on the streets, people get caught up in a whirlwind of panic, just like buying SG prints....
at the start of this year no one would have predicted a run on a british bank, but it happened yep and that was bloody ridiculous queuing all day in case the bank folded even after the goverment guaranteed most savings, flapping on the streets, people get caught up in a whirlwind of panic, just like buying SG prints.... |
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Deleted
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January 1970
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Credit crunch, credit crunch, credit crunch, by Deleted on Dec 18, 2007 16:20:01 GMT 1, Living in the US, I can say that I am more paranoid of a financial crisis than I was back in the 90s. The dotcom bubble burst will be nothing compared to the scale of what could happen today given the amount of debt the average consumer has here. On a personal level, most of my friends in Seattle overbought on their houses (spending 5 to 7 times their gross salary.) Good thing I underbought as the thought of having to sell my house to pay debts gives me nightmares at night.
Bernake has largely made all the right moves (should he have dropped the rate further? sure, but he didn'g need to.) But, Greenspan left a pretty big hole (by the way, I don't think it was him, the White House must have had an influence on the Fed to pump the economy so as to counter the sinking cost/morale of the war.)
As a preventative measure, I'm investing in overseas markets green technology companies, south american oil ETFs, and strong Internet brands (read: Google). I'm also minimizing personal spending (Xmas is going to be tight this year.) From an art perspective, I'm not going to spend nearly as much as I have this year going into 2008. The US Presidential election can't come any faster...
Living in the US, I can say that I am more paranoid of a financial crisis than I was back in the 90s. The dotcom bubble burst will be nothing compared to the scale of what could happen today given the amount of debt the average consumer has here. On a personal level, most of my friends in Seattle overbought on their houses (spending 5 to 7 times their gross salary.) Good thing I underbought as the thought of having to sell my house to pay debts gives me nightmares at night.
Bernake has largely made all the right moves (should he have dropped the rate further? sure, but he didn'g need to.) But, Greenspan left a pretty big hole (by the way, I don't think it was him, the White House must have had an influence on the Fed to pump the economy so as to counter the sinking cost/morale of the war.)
As a preventative measure, I'm investing in overseas markets green technology companies, south american oil ETFs, and strong Internet brands (read: Google). I'm also minimizing personal spending (Xmas is going to be tight this year.) From an art perspective, I'm not going to spend nearly as much as I have this year going into 2008. The US Presidential election can't come any faster...
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bill
New Member
Posts • 444
Likes • 0
November 2007
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Credit crunch, credit crunch, credit crunch, by bill on Dec 18, 2007 16:20:08 GMT 1, Sorry Mike, but you are wrong. There is no other market in the world close to the one in the US. Honestly! Look at the bellow data.
(Numbers in trillions of US dollars)
Africa Johannesburg Securities Exchange $0.349
Americas NASDAQ $12.4
S. Americas São Paulo Stock Exchange $0.476
Americas Toronto Stock Exchange $1.36
Americas/Europe NYSE Euronext $28.7
Asia-Pacific Australian Securities Exchange $1.003
Asia-Pacific Bombay Stock Exchange $0.263
Asia-Pacific Hong Kong Stock Exchange $1.70
Asia-Pacific Korea Exchange $1.66
Asia-Pacific National Stock Exchange of India $0.564
Asia-Pacific Shanghai Stock Exchange $3.56
Asia-Pacific Shenzhen Stock Exchange $1.86
Asia-Pacific Tokyo Stock Exchange $5.45
Europe Frankfurt Stock Exchange (Deutsche Börse) $3.64
Europe London Stock Exchange $9.14
Europe Madrid Stock Exchange (BME Spanish Exchanges) $2.49
Europe Milan Stock Exchange (Borsa Italiana) $1.98
Europe Moscow Interbank Currency Exchange (MICEX) $0.4882
Europe Nordic Stock Exchange Group OMX1$1.60
Europe Swiss Exchange $1.58
Sorry Mike, but you are wrong. There is no other market in the world close to the one in the US. Honestly! Look at the bellow data.
(Numbers in trillions of US dollars)
Africa Johannesburg Securities Exchange $0.349
Americas NASDAQ $12.4
S. Americas São Paulo Stock Exchange $0.476
Americas Toronto Stock Exchange $1.36
Americas/Europe NYSE Euronext $28.7
Asia-Pacific Australian Securities Exchange $1.003
Asia-Pacific Bombay Stock Exchange $0.263
Asia-Pacific Hong Kong Stock Exchange $1.70
Asia-Pacific Korea Exchange $1.66
Asia-Pacific National Stock Exchange of India $0.564
Asia-Pacific Shanghai Stock Exchange $3.56
Asia-Pacific Shenzhen Stock Exchange $1.86
Asia-Pacific Tokyo Stock Exchange $5.45
Europe Frankfurt Stock Exchange (Deutsche Börse) $3.64
Europe London Stock Exchange $9.14
Europe Madrid Stock Exchange (BME Spanish Exchanges) $2.49
Europe Milan Stock Exchange (Borsa Italiana) $1.98
Europe Moscow Interbank Currency Exchange (MICEX) $0.4882
Europe Nordic Stock Exchange Group OMX1$1.60
Europe Swiss Exchange $1.58
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ak47tos
New Member
Posts • 147
Likes • 7
October 2007
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Credit crunch, credit crunch, credit crunch, by ak47tos on Dec 18, 2007 16:21:09 GMT 1, Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to...
I myself am guilty of using this phrase in a recent post. Although I don't fully believe that the US sub prime mortgage market will bring our counrty to it's knees there is definitely evidence of less disposable income, a retraction or toughening up off mortgage offers and a cooling off in the property market.
I work in property and it's largely due to the fact that the market is so very quiet indeed that I've been next to my pc for the majority of Santa's Ghetto. Every cloud as they say.
Credit crunch, credit crunch, credit crunch... Candyman, Candyman, Candyman... For f**ks sake... are people on here hoping if they say something enough it will happen in the UK? Judging by the amount of times the f**king thing is mentioned! This "credit crunch" is a US phenomenon due to the issues with sub-prime mortgages. Twenty or even ten years ago these sort of problems in the US would have had a massive affect on the UK markets. However now the World economy is totally different, it is not so reliant on the US and the distribution of worldwide wealth is much higher. I seriously think although there will be some affect on the UK it won't be anything like what some naysayers are predicting... I actually think the UK will come out of this relatively unscathed. But you never know people, if you wish for something enough it may happen, the reason things like this have a knock on affect in other countries is panic. That's all, nothing else, so don't panic, forget about it and get on with your lives as normal. Yes it's a problem in the US, but without being too blunt - let them deal with it - don't let it affect you as it has no need to... I myself am guilty of using this phrase in a recent post. Although I don't fully believe that the US sub prime mortgage market will bring our counrty to it's knees there is definitely evidence of less disposable income, a retraction or toughening up off mortgage offers and a cooling off in the property market. I work in property and it's largely due to the fact that the market is so very quiet indeed that I've been next to my pc for the majority of Santa's Ghetto. Every cloud as they say. |
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uksnowman
New Member
Posts • 326
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August 2007
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Credit crunch, credit crunch, credit crunch, by uksnowman on Dec 18, 2007 16:21:52 GMT 1, I agree with your sentiment Mike. Look out for the herd mentality, buy when everyone buys, sell when everyone sells and it's not just financial markets, (santas ghetto is a prime example).
Sometimes it's better to buck the trend and put a fat finger up at all those naysayers. If you have the cash, now is a good time to be buying art , shares (some of them) and even houses soon.
Fingers crossed that the UK rides out the storm, but with all these big UK banks reporting writeoffs in the billions, I think it will be a tough year.
I agree with your sentiment Mike. Look out for the herd mentality, buy when everyone buys, sell when everyone sells and it's not just financial markets, (santas ghetto is a prime example). Sometimes it's better to buck the trend and put a fat finger up at all those naysayers. If you have the cash, now is a good time to be buying art , shares (some of them) and even houses soon. Fingers crossed that the UK rides out the storm, but with all these big UK banks reporting writeoffs in the billions, I think it will be a tough year. |
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ray
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Posts • 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:23:03 GMT 1, Ray - It's all confidence, the economic cycle, banks love to cause confidence crises, they get their money back in that way I suppose it's all the point of view you take, as with everything there are two ways to look at the market, and the way I see it, we'll be fine... again as long as we don't panic wildly (as we are wont to do!)
Agree somewhat. Like everything else time heals all wounds. The biggest problem right now is that the people with the money don't want to do much commercial lending, and if the banks get hit with lower bond ratings it gets worse. The fed's propping up the bond ratings with cash infusions but that's not going to last forever. Could be a very interesting 2008.
Ray - It's all confidence, the economic cycle, banks love to cause confidence crises, they get their money back in that way I suppose it's all the point of view you take, as with everything there are two ways to look at the market, and the way I see it, we'll be fine... again as long as we don't panic wildly (as we are wont to do!) Agree somewhat. Like everything else time heals all wounds. The biggest problem right now is that the people with the money don't want to do much commercial lending, and if the banks get hit with lower bond ratings it gets worse. The fed's propping up the bond ratings with cash infusions but that's not going to last forever. Could be a very interesting 2008. |
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:30:25 GMT 1, Exactly snowman, it is the herd mentality that causes problems...
Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted...
Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up
Exactly snowman, it is the herd mentality that causes problems...
Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted...
Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up
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carl
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September 2011
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Credit crunch, credit crunch, credit crunch, by carl on Dec 18, 2007 16:33:26 GMT 1, I have an organic Import business, We supply a whole load of Retailers, wholesalers & Caterers. We are 10% down compared to last christmas. Alot of the retailers we supply are very quite. The media have done a great job of scaring the shit out of everybody. We will see. I feel belts will be tightened though.
I agree with Mike with regards to scare mongering, And on this forum it seems that everyone has got an eye on the swaps section for a bargain! Lets not hope that they get to good a deal!MERRY CHRISTMAS!!
carl
I have an organic Import business, We supply a whole load of Retailers, wholesalers & Caterers. We are 10% down compared to last christmas. Alot of the retailers we supply are very quite. The media have done a great job of scaring the shit out of everybody. We will see. I feel belts will be tightened though.
I agree with Mike with regards to scare mongering, And on this forum it seems that everyone has got an eye on the swaps section for a bargain! Lets not hope that they get to good a deal!MERRY CHRISTMAS!!
carl
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bill
New Member
Posts • 444
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November 2007
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Credit crunch, credit crunch, credit crunch, by bill on Dec 18, 2007 16:35:30 GMT 1, What kind of stuff do you import?
What kind of stuff do you import?
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:37:04 GMT 1, What kind of stuff do you import?
I imagine he imports organic food...
I too am in the import business, various products from items for students to the disabled... this December we're selling much more than last December...
What kind of stuff do you import? I imagine he imports organic food... I too am in the import business, various products from items for students to the disabled... this December we're selling much more than last December... |
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ray
New Member
Posts • 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:38:05 GMT 1, Exactly snowman, it is the herd mentality that causes problems... Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted... Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up
I'd love to see some stats refuting what Bill has said.
Exactly snowman, it is the herd mentality that causes problems... Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted... Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up I'd love to see some stats refuting what Bill has said. |
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carl
Blank Rank
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September 2011
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Credit crunch, credit crunch, credit crunch, by carl on Dec 18, 2007 16:40:55 GMT 1, What kind of stuff do you import?
Fresh food.
What kind of stuff do you import? Fresh food. |
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ray
New Member
Posts • 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:44:02 GMT 1, If the media stopped reporting on it would the problem go away?
If the media stopped reporting on it would the problem go away?
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:45:07 GMT 1, Exactly snowman, it is the herd mentality that causes problems... Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted... Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up I'd love to see some stats refuting what Bill has said.
Argh!!
I'm not for one second refuting what he said:
All I have said is this:
I know the US is the biggest market - I agree with Bill.
BUT in the last 10-20 years more markets have come to the fore many of which are very strong.
If there are problems with the US economy this will not affect us in the same way it did 20 years ago because of these other markets.
Exactly snowman, it is the herd mentality that causes problems... Yes we may not see the rise in house prices we've seen in the last few years, but they're not going to plummet... every market has dips as it is rising, the housing market is one of them. slowmo the 7% fall could be down to numerous things, a slight dip (which like I said will happen in a rising market), an over-valuation therefore a correction, and even HIPs which people have been saying for years will cause a reasonable dip in prices, add to this the amount of people trying to sell before the HIPs became mandatory and there you have it... a whole lot of reasons the house value may have fallen. To attribute it to credit crunch is shortsighted... Bill - seriously, please read what I have been saying. I KNOW the US is the biggest market in the world, BUT compared to 10/20 years ago there has been a major change in the world's economy so there is not a knock on like there was years ago... If I change what someone has written to what I want to read of course I can find stats to back it up I'd love to see some stats refuting what Bill has said. Argh!! I'm not for one second refuting what he said: All I have said is this: I know the US is the biggest market - I agree with Bill. BUT in the last 10-20 years more markets have come to the fore many of which are very strong. If there are problems with the US economy this will not affect us in the same way it did 20 years ago because of these other markets. |
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Credit crunch, credit crunch, credit crunch, by manty on Dec 18, 2007 16:45:22 GMT 1, all a bit technical for me this discussion, anyone got a new banksy they want to sell me before the sky falls on our head ? :-)
all a bit technical for me this discussion, anyone got a new banksy they want to sell me before the sky falls on our head ? :-)
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Credit crunch, credit crunch, credit crunch, by manchestermike on Dec 18, 2007 16:46:43 GMT 1, If the media stopped reporting on it would the problem go away?
What position would the media rather be in?
Report all is bad and it turns out good or report all is good and it turns out bad... it's a no brainer, they err on the side of caution... they're the media, they wouldn't sell many papers if all was good
If the media stopped reporting on it would the problem go away? What position would the media rather be in? Report all is bad and it turns out good or report all is good and it turns out bad... it's a no brainer, they err on the side of caution... they're the media, they wouldn't sell many papers if all was good |
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ray
New Member
Posts • 388
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June 2007
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Credit crunch, credit crunch, credit crunch, by ray on Dec 18, 2007 16:47:59 GMT 1, What kind of stuff do you import? Fresh food.
People will always buy fresh food, toilet paper, toothpaste etc...From an investor point of view these are the companies to invest in when the market is heading south.
What kind of stuff do you import? Fresh food. People will always buy fresh food, toilet paper, toothpaste etc...From an investor point of view these are the companies to invest in when the market is heading south. |
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and if you not got it unlucky 
