Which is a good thing - we don't need the rubbish that is going on today. But the regulators will need to be more proactive and the lenders held to account - with jail terms if necessary.
Banks stuff it up time and again and then whack the public when it goes wrong - only after they CEO's take their parasitic earnings. Average Joe will always naiively borrow what he believes he can particularly if the banks think its cool.What people don't realise is that history keeps repeating - one of the major banks nearly collapsed in the early 90's. Our system is still good but how we are hoodwinked by the finance sector and its bs and the countless fortune teller economists who cant pick one trend from an other.
Have some good shares to offload if any one is interested , going cheap! good stuff going cheap! Trust me will keep going up - real good asset class.
All I want is to see my properties go up 4/5% pa , leverage does the rest,don't need the boom and bust, although I am a beneficiary this time , but in essence it helps no one. The way things are going on the stockmarket pity the next 5 years of retirees because it is all dropping very sharply. Then we still have to trust the the morons who take their fees etc for following the analyses of the economist soothsayers they pay megabucks to tell them nothing.
