This whole recession thing... Page 3

It strikes me that the big banks etc are making money out something that doesn't exist. I.e. Money. Currency dealing, investing in futures etc is generating billions out of something that doesn't exist. Whereas a certain amount of credit is useful there has to be a relationship between making things and making money. Seems to me that the natural laws are in effect, do we really need five or six estate agents in a small town .... No. Some financial instituions will fall, the more robust ones will hoover up their debris and will become stronger for it.

Quote: Marc P @ September 17 2008, 2:53 PM BST

It strikes me that the big banks etc are making money out something that doesn't exist. I.e. Money. Currency dealing, investing in futures etc is generating billions out of something that doesn't exist.

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If you ever want to read a great book on that subject try Po Bronson's Bombadiers. It's Catch 22 for the money markets.

Quote: Aaron @ September 16 2008, 7:07 PM BST

Unfortunately, the builders were Polish, so the foundations of the property aren't as strong as they should be.

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Why Polish?

He's joking .. anyway, it's a change from Irish.

My foundations are fetish.

Anyway, no probs for me this recession business. I'll just revert back to armed looting after many years of simple shoplifting. QED.

Quote: Marc P @ September 17 2008, 2:53 PM BST

It strikes me that the big banks etc are making money out something that doesn't exist. I.e. Money. Currency dealing, investing in futures etc is generating billions out of something that doesn't exist. Whereas a certain amount of credit is useful there has to be a relationship between making things and making money. Seems to me that the natural laws are in effect, do we really need five or six estate agents in a small town .... No. Some financial instituions will fall, the more robust ones will hoover up their debris and will become stronger for it.

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A lot of banks operate without an physical money, just numbers being passed between banks and people.

It's quite concerning when you think about it... our entire economy pretty much rests on numbers on a computer screen...

Money - physically - is of little concern to most banks. Their true worth comes from property and other investments. With these kinds of dealings, money rarely moves, just its ownership.

If you've got a mortgage with the Halifax, then your mortgage has just been bought by Lloyds TSB. Doesn't mean that your actual house moves; just the owner of it.

Quote: Aaron @ September 18 2008, 5:44 PM BST

Money - physically - is of little concern to most banks. Their true worth comes from property and other investments. With these kinds of dealings, money rarely moves, just its ownership.

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True, just when you think about it...

I'm with the Halifax. But I doubt I'll notice the remotest change in anything.

Quote: zooo @ September 18 2008, 5:51 PM BST

I'm with the Halifax. But I doubt I'll notice the remotest change in anything.

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except your local branch might close

Quote: zooo @ September 18 2008, 5:51 PM BST

I'm with the Halifax. But I doubt I'll notice the remotest change in anything.

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I think the first cutback should be to get rid of those f**king irritating Halifax adverts with f**king Howard Brown!

Yeah I hate Howard.
And that singing fat lady.

Quote: Tim Walker @ September 18 2008, 6:09 PM BST

I think the first cutback should be to get rid of those f**king irritating Halifax adverts with f**king Howard Brown!

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Leave Howard out of this he's helpless bystander!

Quote: Paul W @ September 18 2008, 6:13 PM BST

Leave Howard out of this he's helpless bystander!

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I would dispute that (if I could be arsed)!

Quote: Tim Walker @ September 18 2008, 6:09 PM BST

I think the first cutback should be to get rid of those f**king irritating Halifax adverts with f**king Howard Brown!

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If there's anything to be learned from this, it's to slaughter anyone with the surname Brown.

Quote: zooo @ September 18 2008, 5:51 PM BST

I'm with the Halifax. But I doubt I'll notice the remotest change in anything.

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I also have an account with the Halifax. However, it contains less than a tenner.

Quote: Tim Walker @ September 18 2008, 6:14 PM BST

I would dispute that (if I could be arsed)!

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I would despute your despute, but I too don't have the energy.

Unless it's Aaron... I always have energy for Aaron.

EDIT: Did that sound as gay as I thought it did?