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| quote: | Originally posted by Fledz
Not all doctors are good doctors, and you can apply that to any profession.
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Good point.
99.99% of the world economists did not predict the worldwide credit crunch yet an unknown American guy (Dr Bubb) on a UK forum called housepricecrash.co.uk, was writing thread wasy back in 2005 with titles such as 'pin your signs of the comming credit crunch here'.
Example from Jan 2005, 30 months before President Bush's advisers new what a debt crisis was;
http://www.housepricecrash.co.uk/fo...opic=4354&st=15
Posted 09 January 2005 - 11:42 PM
Latest figures from the BBA for the 11 months of last year show:-
800,000 new mortgages @ average £111k
760,000 2nd mortages @ average £94k
740,000 secured loans @ average £23k
Total secured borrowing £177bn by 2.3m households !!!!! and thats about 10% of all the households in the UK.
BBA accounts for 70% of secured lending, so complete picture is even more borrowing.
Now recent BoE survey, says that 25% of 2nd mortgages taken out are TO CONSOLIDATE DEBTS !!!!!
Surely someone has got to realise this debt issue is out of control !!!!
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Me again>
In other words experts are very often wrong and cannot see the bigger picture. As such I value MFB'd opine about eqaual to many on here when it comes to EDM.
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