Gordon Brown Fears Another Economic Meltdown

[blackbird]

47 minutes ago, 12gauge82 said:

And you actually believe him?

Well he has done nothing for the economy since he has been governor, why change now.

[12gauge82]

9 minutes ago, blackbird said:

Well he has done nothing for the economy since he has been governor, why change now.

Spot on. He's told that many lies on the lead up to the referendum how anyone can believe a word he says is beyond me, he clearly has a huge agenda with Brexit, the trouble is, I wouldn't put it past him to purposely damage the economy in an attempt to block Brexit and his actions appear to have already began, he needs to go. They just reported his house price "prediction" on BBC news, they're just re-rolling project fear to keep the plebs in line.

[Westward]

Is this the same Mark "'We're Doomed" Carney who's just negotiated a year's extension to his incredibly lucrative contract to (cough) assist the Brexit transition?

 

[gustaff]

wasnt gordon brown a failed estate agent before his political career.

[12gauge82]

https://news.sky.com/story/next-financial-crisis-has-begun-and-will-be-worse-than-2008-crash-economists-warn-11497433

 

And that's the latest one, it's all the fault of brexit of course. They really are pulling out the stops now the "deal" with the EU is closing in. 

If there is another crash it'll be the world economy being based on debt and not because of Brexit.

[Westward]

15 hours ago, 12gauge82 said:

If there is another crash it'll be the world economy being based on debt and not because of Brexit.

It's always debt in some form that causes financial meltdown. Low interest rates helped to limit the pain from the damage of 10 years ago but have stayed too low too long. The rates should have progressively gone up to 4 or 5% by about 3 years ago, but as usual it was deemed to be politically unacceptable. Higher rates automatically mean less debt, particularly risky debt, less growth in property values and far more sensible fiscal management at the corporate level.

It won't be the banks this time, but anyone with with blue chip investments would do well to look closely at the debt levels of the companies whose stocks they're holding.