BBC Blog Network

User Profile

lordJohnHunt

Listed below are comments made by lordJohnHunt between Wednesday, 29th October 2008 and Monday, 9th March 2009.

«Newer
Older»

Will Lloyds' chiefs resign? 2:38pm on 09 Mar 2009 Why should these execs be protected and keep their jobs and pensions, when thousands of other mere mortals loose their jobs and pensions for acts of incompetence. And these execs are incompetent.

We have known for some considerable time, well before the credit crunch was even thought of, that the British banking sector was heavily involved in dodgy high risk contracts, bonds, and other financial instruments invented to cloak the American sub-prime disaster. To go one would be repeating my self and history.

I'm afraid these captains knew the risks they were taking, and so it follows, they must go down with the ship. They are no loss to the sector and it's about time new blood is brought in to rebuild our banking sector.
Woolworth into administration 5:30pm on 26 Nov 2008 I think this is the bit where our current situation starts to bite hard on the high street. Anyone who is, or was still wondering what all the hullabaloo about our economy is, should now start to feel fully appraised from now on.

Woolies, sorry to see you go. MFI the same. Who's next?
Citi and manic Monday 09:06am on 24 Nov 2008 Just another day in the life of a dysfunctional world economy.

Another bank on the ropes, more about ailing car manufacturers, talk of tax cuts, borrowing spiralling up.

Tax cuts = rob Peter to pay Paul. Peter = the future and Paul = today.

Gordon Brown harps on about not being protectionist, but he has no concept of human nature. What would you do, as a leader of a country not so wealthy (poor) as the UK, would you join in Gordons party, or would you act in the best interest of your own country, even if that meant being protectionist. I would.

Now is a good time to rebuild a new economic structure, rather than save the old one that is riddled with excesses and corruption.

The future has already bee written, nobody bothered to read it. http://en.wikipedia.org/wiki/Great_depression
Can Darling kickstart lending? 09:34am on 20 Nov 2008 We seem to have a preoccupation with borrowing, the same poison that got us here in the first place. I feel the world needs to go to Rehab.

Small companies in many respects, are indeed well placed to come out the other end of the depression, but it cant be done by borrowing. Here's why: We are going from a recession to a depression, and that will bring deflation within 6 months or so. If you borrow today, tomorrow your repayments will INCREASE as a percentage of your business due to the effects of depression/deflation.

My opinion is that any small business should slam the door firmly shut in the face of any bank that wants to loan you money. Its poison.
Why interest rates aren't falling 5:59pm on 02 Nov 2008 Robert,

to quote your own words: "A contraction in the availability of credit is the main source of our current economic woes."

I most strongly disagree with your assessment. The main source of our current woes is down to the vast amounts of lending to people who couldn't pay back the money and banks who overstretched their reserves by a massive amount. The lack of credit availability is the RESULT of those two factors. It was the overly generous amount of credit that got us into this pickle.

You say that no one can say how severe the downturn will be. Well, I'm going to nail my colours well and truly to the mast. It will be a deep recession (depression) and it will last for a couple of years at least, followed by another two to three years of zero growth growth. The upturn, when it comes, and it will, is going to be a very cautious affair, about four to five years from now. In the short term, unemployment will start to kick-in by the Q1 2009, quickly rising to 2 million, it will continue to rise to a peak of about 3.5 to 4.5 million by mid 2010. The retail industry will be a blood bath in Q1 and Q2 of 2009. Manufacturing will be in a state of collapse and its worth noting that the travel industry will see some surprising departures from the business world.
The problems inside HBOS 11:38am on 31 Oct 2008 After seeing the performance of Barlays, let HBOS and RBS go under, start again. The banking system is rotten to the core and run by vile, pig ignorant executives who put self interest before all else.
Barclays protects its bankers' pay 11:35am on 31 Oct 2008 The next bank to teeter. LET IT BURN.
Why Barclays prefers Abu Dhabi to GB 10:34am on 31 Oct 2008 Robert,

It is clear that no bank wants money from HMG because not one of them will give up their arrogant self interest. I was in full favour of the USA/UK bail outs, but now I'm not so sure. I do feel that we should have let at least one bank go to the wall, if only to prove the point that they are vulnerable and cant expect to be wet nursed through a depression. The chancellor would have been in a much stronger position, if say Northern Rock went out of business, which quite frankly it should have done. At the moment, not one pig ignorant bank has national interest at heart. Let them sink beneath the waves and start again.

The chancellor must introduce positive reform soon. If the banks don't like it, tough. If Mervin King doesnt like it, sack him.

Barclays have firmly nailed their colours to the mast. Its now time we did the same.
Hedge funds and VW: what a pile up! 09:04am on 29 Oct 2008 So the short sellers got caught with their trousers down. That's the way the cookie crumbles.
The £5,000bn bailout 08:19am on 29 Oct 2008 #235

Some of them met on Oleg Deripaska's yacht off the Corfu coast in the summer.

#236

The only real option to purge the global debt, is to go for inflation. I cant see any other way.

«Newer
Older»

^ Back to top

BBC MMVI

The BBC is not responsible for the content of external internet sites

BBC.co.uk

BBC Blog Network

Find and talk to the BBC's bloggers.

User Profile

lordJohnHunt