Credit Crunchtime

[Beaucoupnice]

So I was just wondering if any of you out there have reeled in your Mercedes spending due to the dreaded credit crunch.

Personally I just went out and bought one to buck the trend

The local dealer actually said their MB sales were up.

 

[television]

I have a good friend who when business was bad,he went out and bought a new car so that he could earn the money to pay for it

 

[busby20]

If you are in the position whereby your job or business is not at risk, the credit crunch won't mean much unless you need to borrow money, or move house, so good deals will be had all round - if you have the cash. A recent example of this was when I received a letter from a bank that I have savings with, they just informed me that the net rate on my savings were now 3.43% The next week they sent me a letter to advise me that the credit card I have with them would be 29.8% on outstanding balances from March this year! so guess what happened to the card - and the savings! So, what happens to all the taxpayers money that the goverment is giving to banks and car makers? as an asian chap said that works for my organisation "why don't the government give the entire UK population a million pounds each - would only cost them 60 million and would eradicate poverty?? sounds good - but who would empty the bins etc. thinking seemed sound if a touch naive.

 

[television]

I love your practical way of thinking busby

 

[busby20]

I love your practical way of thinking busby

Yeah, but still have to get up early tomorow as they need another shoulder to the wheel, gritz for the mill, coal to be dug - or something like that can't wait for the mail this week - just in case somebody from the goverment is monitoring this site (mercedes = bourgeois elite!!) and take up the idea of giving everbody the million - we could always get more eastern "europeans" ? to take up the menial jobs? de ja vu? wait a minute, didn't this happen in the 50's with some asian/afro carribeans, or whatever? whatever happened to them?? I wonder if that nice Mr.Jamil that owns the cash and carry and drives that nice CLS was one of them - hmm? maybe we could all emigrate to america and buy up some nice cheap sub prime mortgages? - must be going cheap, surely? could do a swap, CLK Cabriolet good condition, exchange for 220 cheap mortgages - cash either way? Apologise in advance if this offends anyone, meant to be fun

 

[television]

Yeah, but still have to get up early tomorow as they need another shoulder to the wheel, gritz for the mill, coal to be dug - or something like that can't wait for the mail this week - just in case somebody from the goverment is monitoring this site (mercedes = bourgeois elite!!) and take up the idea of giving everbody the million - we could always get more eastern "europeans" ? to take up the menial jobs? de ja vu? wait a minute, didn't this happen in the 50's with some asian/afro carribeans, or whatever? whatever happened to them?? I wonder if that nice Mr.Jamil that owns the cash and carry and drives that nice CLS was one of them - hmm? maybe we could all emigrate to america and buy up some nice cheap sub prime mortgages? - must be going cheap, surely? could do a swap, CLK Cabriolet good condition, exchange for 220 cheap mortgages - cash either way? Apologise in advance if this offends anyone, meant to be fun

It is fun,,houses are very cheap in the USA as like in Europe houses are bought to live in and not make money out of

 

[busby20]

It is fun,,houses are very cheap in the USA as like in Europe houses are bought to live in and not make money out of

Got my own back on the blood sucking parasites - paid the mortgage in full, don't owe them anything:lol: and lived in the place for 25 yrs. raised 2 boys, and hopefully, leave it to my grandsons! - result!

 

[television]

Got my own back on the blood sucking parasites - paid the mortgage in full, don't owe them anything:lol: and lived in the place for 25 yrs. raised 2 boys, and hopefully, leave it to my grandsons! - result!

YesI did the same many years ago, plus 2 boys and 4 wives

 

[busby20]

YesI did the same many years ago, plus 2 boys and 4 wives

4 Wives? sorry Malcolm, can't compete with that
I got rid of the the encyclopedias, google, and citizens advice, cos the wife knows b****y everything good thing she's not to bright when it comes to the internet so she won't read this--------errr, I think? maybe I better delete this - just in case

 

[television]

4 Wives? sorry Malcolm, can't compete with that
I got rid of the the encyclopedias, google, and citizens advice, cos the wife knows b****y everything good thing she's not to bright when it comes to the internet so she won't read this--------errr, I think? maybe I better delete this - just in case

Yes I parted with them all and they did not cost me one penny, I still see the odd one now and then, and she will not use the net either

 

[davidsl500]

as an asian chap said that works for my organisation "why don't the government give the entire UK population a million pounds each - would only cost them 60 million and would eradicate poverty?? sounds good - but who would empty the bins etc. thinking seemed sound if a touch naive.

errr, maths a bit off there I think 60 million people multiply by a million pounds each :-

60,000,000 x 1,000,000 = 60,000,000,000,000

In my book thats 60 TRILLION Pounds !

 

[television]

errr, maths a bit off there I think 60 million people multiply by a million pounds each :-

60,000,000 x 1,000,000 = 60,000,000,000,000

In my book thats 60 TRILLION Pounds !

whats in a few zero's David, when it comes to governments spending

 

[busby20]

whats in a few zero's David, when it comes to governments spending

Exactly what the goverment would give you - 00000000 ad finitum - sorry about the maths didn't bother to work it out - still, cheap at the price - or we could use all the redundant tridents to reduce the population to a manageable amount - then pay out, could start with politicians, bankers, financial advisors, media experts, mercedes dealerships (please god!!), weather forecasters, airport management,(please god!!!) - who else? - internet fraudsters, spammers, - hmm? just fill the blanks

 

[PeterCLK]

If you give everyone £1 it will cost £60 million. If you give every one £1m it will cost a bit more.
Went in to a (British) bank today to open a savings account - and pay some money in.
You'd think I was a criminal - where did the money come from? - was it earned? - it was a cheque from another British bank for God's sake.
Had great fun in telling them how crap their call centre is in India. (not 'cos it's in India but because it took them 10 minutes to find the number of my local bracnch)

 

[JEZ.S320L]

could start with politicians, bankers, financial advisors, media experts, mercedes dealerships (please god!!), weather forecasters, airport management,(please god!!!) - who else? - internet fraudsters, spammers, - hmm? just fill the blanks

Oh Dear! Oh Dear! Oh Dear! 10-9-8-7-6-5 .... I'm off..!!!!!

 

[100%Bitch]

Exactly what the goverment would give you - 00000000 ad finitum - sorry about the maths didn't bother to work it out - still, cheap at the price - or we could use all the redundant tridents to reduce the population to a manageable amount - then pay out, could start with politicians, bankers, financial advisors, media experts, mercedes dealerships (please god!!), weather forecasters, airport management,(please god!!!) - who else? - internet fraudsters, spammers, - hmm? just fill the blanks

Isn't it funny?

When your investments and savings were adding to your wealth at a good rate your Financial Adviser or banker was your best friend, and I bet you were bragging about how much you were getting. Now that you've seen how your money or and gains aren't what they were they're your worst enemy. If you place us in the same lowlife category as internet spammers, why don't you give back all of the gains you made with your investments and savings, that way you could have a clear conscience too.

You do talk a load of cr@p!

 

[Alex M Grieve]

Ouch. That got Helen on to line 3, and nearly the end of line 3!

I am sure that there are good guys and bad guys in every walk of life. Certainly the financial services industry has not distinguished itself recently - well, not positively, anyway.

It is important to remember that all prices can go down as well as up, and buying when they low, as they are at present, can produce excellent results. A day trader who bought RBS @ 12p recently (the poor chap who sold them had previously bought @ £6.50 or thereabouts), could then have sold at 21p a few days later and made 75%.

Sadly, much is defined by formula. "Balanced portfolios" all have a slice of each of the major markets - banks (!), IT, energy, etc. Once the portfolio is established, short term fluctuations in the market can lead to electronic trading and, depending on the parameters, that can accelerate either way. "Short selling" might be a blast if you get it right and can clearly bankrupt the other guy, but it carries no guarantees.

Even those put in authority to discipline the market (FSA) have not emerged from the current debacle looking good. The Parliamentary Select Committee which sat mute and watched the abolition of 10% income tax coming down the tracks for a year did us no favours either, well not until their constituents woke them up.

So I guess, as in everything else, you would not pick your financial advisor with any less "due diligence" than you would choose your car. There will be good performers and weaker ones. In the recent past, however, even the good performers have been compromised by the mechanical nature of the industry and the fact that, like MB/Chrysler paintwork, the rot was built into the system and not obvious in the showroom.

Warren Buffet said "Risk comes from not knowing what you're doing".

He might usefully have added "But thinking you do".

 

[Splatt]

Any financial adviser can show a profit in a rising market.
One who can do the same in a meltdown is to be treasured.

 

[100%Bitch]

Any financial adviser can show a profit in a rising market.
One who can do the same in a meltdown is to be treasured.

You are going to have to treasuer me them. I have funds that have made my clients 30% in 8 months.

 

[Xtractorfan]

You are going to have to treasuer me them. I have funds that have made my clients 30% in 8 months.

Didn't Madoff have a similar plan.
Oops sorry..
Did not Mr. Madoff have a similar plan in mind..