BBC Blog Network

User Profile

Crash_Gordon

Listed below are comments made by Crash_Gordon between Monday, 21st April 2008 and Saturday, 7th March 2009.

«Newer
Older»

We're in QE street now! 10:35am on 07 Mar 2009 11.

Okay, the fact that you honestly think your idea (which amounts to little more than "GIVE ME A FREE HOUSE") is either socially just or even viable shows how little grasp of economics you have.

The reason no-one has given you a serious reason why it wouldn't work is because no-one has taken your suggestion seriously. Not surprising either.

The problem with having a Debt Jubilee is that those debts are owned by other people as credit. This is the fundamental concept of assets and liabilities. So to cancel your housing debt, savings and investments with the bank would also need to be cancelled.

I'm sure you'd have absolutely no objections to that idea because creditors would be left with nothing and you'd be left with a free asset.

So the only way of your idea working would be if you also gave up ownership of your house, which basically is communism or anarchism (depending on who governs ownership).

Bet you're not so keen on your masterplan now ... ?
Why punish savers? 5:12pm on 04 Dec 2008 Did someone say they're sick of me being called Crash Gordon?

"No more boom and bust."
A very big rescue 07:58am on 08 Oct 2008 They'll be back next week for more money from the taxpayer.

Crybaby capitalism at its worst.
B&B to be nationalised 11:06pm on 27 Sep 2008 Apalling. The BBC's refusal to host a "Have Your Say" board on the subject shows just how much of a government patsy the BBC has become. Independant unbiased reporting? not from the BBC, you must be joking.

The BBC website also refuses to mention the sheer size of the liability that has just been taken on on taxpayers' behalf.

Absolutely disgusting. Have the Monetary Policy Committee resigned yet for failing to factor the true cost of cheap credit?
What a week 10:35am on 20 Sep 2008 For the last time IT WAS NOT A MERGER. It was a rescue takeover.

Stop pretending HBOS wasn't in trouble and that it was a meeting of minds over a cuppa tea. HBOS was in serious trouble because its liability maturation window was closing, so LloydsTSB bid to take its assets (which were more than LloydsTSB's own) and its liabilities (which were massive relative to their assets).

Come on people, its not that complicated ...
Banks' big bailout 10:43am on 21 Apr 2008 Moral hazard be damned!

The report mentions that "Financial markets are not working normally", but during the period where the markets were dominated by "irrational exuberance", there were no measures proposed by the Bank of England to bring the market back to earth.

I am gobsmacked at the fiscal shortsightedness of this measure, effectively kicking the problem into the long grass as taxpayers shoulder the risk burden built up over years of overlending by the banks.

What we have witnessed is a normal functioning of the credit market - a retrenching of the price credit after a period of largesse. What we are also witnessing is the Bank of England furiously rooting around in the cellar then demanding the taxpayer off license open early so that they can buy more free beer to keep the party going.

In centuries past there would have been riots on the streets. Look up the 1815 Corn Laws for a precedent.
Mervyn bends - and how! 08:35am on 21 Apr 2008 It is a sorry day for the Bank of England, and a demonstration of just how politicized its agenda has become - independence be damned, Gordon Brown's reputation takes precedence over long term financial stability, prudence, moral hazard and fiscal accounting rules. A Prime Minister's reputation now has a price - £50bn bailout + £100bn in Northern Rock.

Enough to build nearly 200 Millenium Domes!!

Long after Gordon Brown and Alistair Darling are comfortably retired on fat RPI-linked pensions, we will all be paying for their largesse if this plan gets the green light. I am aghast at this legal precedent.

«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

Crash_Gordon