media twattery...
Yes, there is a recession, caused by a bunch of cunts (have you ever met a Merchant Banker? Arrogant wankers to a man and generally thick as pig-shit, but "Father is the Earl of blah-di-blah-shire") lending money to feckless morons who thought borrowing £20k at 40% interest when they didn't have a job and lived in housing, that I (and other tax payers) have basically given them out of charity, was a good idea.

On the basis of this monumentally stupid thinking, the said B/Wankers then sell that debt to other banks as optential income and use this to borrow ever larger amounts of money. The reality is that if everyone with a bank account went into their local branch and asked to empty their account, there wouldn't be enough money to do so - it's all smoke and mirrors.

So, we are now in a situation where idiots won't lend to morons because their stupidity has caused a house of cards with no cards at the bottom to collapse - purely because someone had the balls to turn round and say "actually, I think I'd rather take the money than keep playing this game".

Interest rates go up, we all suffer, they go down and tehre is another reason given for us to continue suffering. Usually by some shiny faced cunt in a blue Gieves and Hawkes suit who works for one of the banks who caused the fucking problems in the first place.

Then we ahve the media who are loving every second - "House prices crash!" (only where they were stupidly over-inflated in the first place), "Unemployment soars!" (well, it's gone up a bit, but we've had basically 3+Million out of work since about 1999/2000, but Labour called them something else, so they weren't "unemployed), "Worst recession since the last one!" (not as bad as 1987 where everything died on its ass, or the last time we had a Labour government tax-and-spending it's way into a four day week and the total collapse of British Industry, complete with power cuts to domestic housing). Basically, it's the latest thing and they are on it like flies on shit.

If everyone turned off Sky News (and their "Everything's fine, so PANIC!" attitude), went out and saw that the streets aren't awash with looters, paedos and murderers, that you can still buy what you need (as long as you actually have cash for it and can, thus, afford it) - you can buy whatever you like. The only businesses that have failed are those that were a) failing before this recession hit and, b) those with fundamentally bad business practices.

If we stop listening to people who think that £40k wage plus an £80k bonus makes for a bad year for financial advice and just go and ask our mums and dads who have lived through World Wars, rationing, the Cold War, the Winter of Discontent, three recessions that I can remember and god knows what else, I think we would find that things aren't actually bad at all - we're not being bombed or told to be a soldier and fight in a war, for a start...

Twats in banks and twats in the in media are fuelling this thing between themselves, so I say we all just ignore them and do what is needed. What do you reckon?

Sorry about the length, but I needed that rant!
(Chad, Thu 22 Jan 2009, 16:58, 8 replies)

best comment on the current financial bullshit i've seen yet
i applaud your insight. i often wonder how people would cope with rationing and dinners of woolton pie now. i suspect they wouldn't.
(funkenstein Be pure! Be vigilant! Behave!, Thu 22 Jan 2009, 17:13, closed)

Actually
I rather like woolton pie... The fact is that, whilst I have a nice place, nice car, big tv and suchlike, my wife and I only owe for our university time, we buy fresh food and make our own meals and packed lunches. Other than our honeymoon, we haven't taken an expensive holiday - we take time off and go for picnics or visit national trust houses at weekends to get a break. I don't borrow money I can't afford and I don't buy things I can't afford.

People who blame consumerism or pressure to keep up with the jonses are talking through their arse an refusing to take responsibility for their actions. I'd love a Ferrari, but I don't have one as I can't afford it. By their reckoning, I should get one on credit and then blame Top Gear for making me want one...
(Chad, Thu 22 Jan 2009, 23:05, closed)

here here!
yes.
( rofl harris, Thu 22 Jan 2009, 17:15, closed)

You saved me writing this post
Good stuff.
( Noeli overtheshoulderboulderholderthingstraplatchboobs, Thu 22 Jan 2009, 17:44, closed)

Amen to that

( Mrs Entity is in hiding., Thu 22 Jan 2009, 18:09, closed)

chad


if you can keep your head while all about you lose theirs, you clearly haven't understood the gravity of the situation...


seriously though I totally agree with you, pile of wanky shite - It was the same here in Ireland during the 'boom' people climbing over their brainless selves to buy shit they couldn't afford....

Other side of it though is they are almost victims - eductaion standards and rights decrease, sometimes it seems with red sealed intent and the 'tv' has prime place in many homes, pushing a colourful dream of material gain being equal to happiness. Can be difficult for many people not to go with the flow. But at the end of the day (escuse pending pun) you make your bed and you lie in it.
(The Cats Twat, Thu 22 Jan 2009, 20:22, closed)

Just about sums it up,
Two years ago, banks were offering 125% mortgages. Yes, that's right, we will lend you more than the property is worth in the misguided belief that prices will cary on rising ad infinitum.

Financial madness, and now we are all paying the price for a combination of greed and shortsightedness on the part of banks, and opportunism and band-wagon jumping on the part of borrowers.

PS I'm guilty too, excuse the rant.
( slapdash flying through the cool clean air since, Thu 22 Jan 2009, 22:55, closed)

*Applauds*
Have a click ^_^
( VandenPlas can't think of anything clever - no change there!, Fri 23 Jan 2009, 12:40, closed)