[TV] The Decade the Rich Won - BBC 2

[TomandJerry]

Anyone else watching ?

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[dazzer6666]

Anyone else watching ?

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Yep………

Looking forward to a few of those quoted at the start being revisited for their views…

 

[TomandJerry]

So the Central Bank makes money out of thin air, then buys things, which raises prices and then everyone jumps in to make profit

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[LamieRobertson]

So the Central Bank makes money out of thin air, then buys things, which raises prices and then everyone jumps in to make profit

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I think you can exclude me from the everyone bit…but now I’m aware I’ll give it a go,,.do u think a tenner is enough starting capital

 

[dazzer6666]

I think you can exclude me from the everyone bit…but now I’m aware I’ll give it a go,,.do u think a tenner is enough starting capital

Yep, chuck it all in Bitcoin (or similar). This time next year Rodney…….

 

[Weststander]

Always been the way.

I know ordinary folk and businessmen who snapped up residential or commercial property just after the (hopeless) Norman Lamont caused prices crash of the early 90’s.

Now sitting on £1m’s, some multi £10m’s of wealth! Many without an Etonian accent, just working class lads from Brighton with a nose for money.

Timing, alertness, risk takers, a hunger for making money when all those around them were short term hedonistic and spenders.


This time around, there are new Covid billionaires and millionaires across the globe (not just Blighty, far from it). PPE, testing lab owners, non-medical opportunists who very quickly became facilitators for testing.

Even as a mixed economy proponent and not jealous type, this seems immoral to me.

 

[LamieRobertson]

Always been the way.

I know ordinary folk and businessmen who snapped up residential or commercial property just after the (hopeless) Norman Lamont caused prices crash of the early 90’s.

Now sitting on £1m’s, some multi £10m’s of wealth! Many without an Etonian accent, just working class lads from Brighton with a nose for money.

Timing, alertness, risk takers, a hunger for making money when all those around them were short term hedonistic and spenders.


This time around, there are new Covid billionaires and millionaires across the globe (not just Blighty, far from it). PPE, testing lab owners, non-medical opportunists who very quickly became facilitators for testing.

Even as a mixed economy proponent and not jealous type, this seems immoral to me.

Oooh those were grim days….base rate hitting 15% after being increased 3% in one afternoon, all to protect the pound against the DM in the ERM …i was working in the dept of a bank dealing with sour commercial loans…nearly drove me over the edge, an awful lot of crap lending …hardly any lessons were learnt

 

[B-right-on]

Which decade is that?

In my 60 odd decades of being around, it seems like its every ****ing decade that the rich win. Yes there are those that join them and those that get fecked.

But almost every rich person seems to get richer and the rest of us just get by to one degree or another.

 

[Guinness Boy]

Which decade is that?

In my 60 odd decades of being around, it seems like its every ****ing decade that the rich win. Yes there are those that join them and those that get fecked.

But almost every rich person seems to get richer and the rest of us just get by to one degree or another.

You're 600?

Chapeau. How far can you walk without oxygen?

 

[Weststander]

Oooh those were grim days….base rate hitting 15% after being increased 3% in one afternoon, all to protect the pound against the DM in the ERM …i was working in the dept of a bank dealing with sour commercial loans…nearly drove me over the edge, an awful lot of crap lending …hardly any lessons were learnt

I remember it well. Barclays set our mortgage interest at 15.75%.

Exactly …. the same cycles of over lending since.

 

[dazzer6666]

Oooh those were grim days….base rate hitting 15% after being increased 3% in one afternoon, all to protect the pound against the DM in the ERM …i was working in the dept of a bank dealing with sour commercial loans…nearly drove me over the edge, an awful lot of crap lending …hardly any lessons were learnt

I was as well....carnage and chaos.

...and today Lloyds come out with the cheapest 10 year fixed rate mortgage ever

 

[Beach Hut]

I remember 15% mortgage rate all because Lamont and Major were obsessed with tracking the ERM.

Lamont was so happy he went home that night and sang in the bath.

 

[cunning fergus]

I remember 15% mortgage rate all because Lamont and Major were obsessed with tracking the ERM.

Lamont was so happy he went home that night and sang in the bath.

To be fair to Lamont he resisted being permanently drawn into the ERM as a precursor to the Maastricht treaty, which was the preference of John Major when he was chancellor and subsequently PM.

Being able to manage Sterling was always a priority for Lamont, and to some extent the debacle of the ERM crisis did justify his warnings before the U.K. joined the ERM.

A precursor possibly to the same fight between Blair and Brown.

No doubt when Brown went home after his day in Parliament when he announced he had abolished boom and bust he jumped in the banoir and belted out a full repertoire of Howard Keel’s greatest hits.

 

[portlock seagull]

One of the best, most insightful documentaries in recent years.

Nothing in it though to change my mind that it’s all going to end in bloody revolution.

 

[RexCathedra]

There will be a brief pause while we figure out which out-group, with little or no responsibility for this state of affairs, you should take out all your anger upon.

 

[B-right-on]

You're 600?

Chapeau. How far can you walk without oxygen?

 

[Harry Wilson's tackle]

Always been the way.

I know ordinary folk and businessmen who snapped up residential or commercial property just after the (hopeless) Norman Lamont caused prices crash of the early 90’s.

Now sitting on £1m’s, some multi £10m’s of wealth! Many without an Etonian accent, just working class lads from Brighton with a nose for money.

Timing, alertness, risk takers, a hunger for making money when all those around them were short term hedonistic and spenders.


This time around, there are new Covid billionaires and millionaires across the globe (not just Blighty, far from it). PPE, testing lab owners, non-medical opportunists who very quickly became facilitators for testing.

Even as a mixed economy proponent and not jealous type, this seems immoral to me.

The 'free market' is interesting. If it becomes widely perceived as parasitical then, now we are increasingly connected to information, and slowly learning how to distinguish between news and fake news, perhaps in 15 or 20 years, there may be a clamour for some.....regulation. Not yet, though. The American dream....levelling up....the national lottery.....the plebs are still being willingly dazzled by shiney things and the chance to own them.

Edit and by own I mean win rather than earn.

 

[Harry Wilson's tackle]

I was as well....carnage and chaos.

...and today Lloyds come out with the cheapest 10 year fixed rate mortgage ever

And I would have lost my house if it weren't for a bit of outrageous good fortune.

 

[dazzer6666]

And I would have lost my house if it weren't for a bit of outrageous good fortune.

I moved shortly after and started life in Sussex with a 110% mortgage

 

[Harry Wilson's tackle]

I moved shortly after and started life in Sussex with a 110% mortgage

Sub prime lending started long before I had imagined, it seems.

And yet the wankers still like to blame Brown for the crash