UK financial crisis 2007 | 2008

[cybertrader69]

Good call gordon,.

we r getting fked here, NYC.

on the brink of going postal.

NewYork

[GaryGarratt]

Good vid! Public lending topping 1 trillion pounds + credit crunch = bad things. The housing market overheated thanks to the wide abundence cheap loans. This was always going to happen and nothing was done to prevent it. Typical boom/bust that the Tories were famed for.

[caliconotts]

everybody who just bought property in the UK on borrowed money are the victims,Not only will they lose money if they sell but they stand to lose the house,the money all ready paid in and have the debt and have nothing to repay with, so the fat cats in the misery temping agencys will love it, as will the banks. In a nut shell you all got fucked, Any one with brains money or big bollcks got the fuck out of that shit hole ASAP. i was told i was full of it when i told everybody this day was coming.

[GaryGarratt]

I said the same thing too. My mate said he was going to buy a house. I told him not to and wait a few years. I bought it last year with 100% mortgauge. Now his house is worth less than what he owes. (Negative equity)

[rapidset]

i am a tiler and have been out of work for 3 mths in 20 yrs Ive never been short of work. The inland revenue want 12k in 2 months time and I havent got it. Gordon Brown should never have allowed people to borrow so much money the country is finished were an island everything is shipped in and fuel cost have never been higher Polish worker will work for next to nothing and are filling jobs which would have been done by English workers (keeping money in the local economy not exporting it)

[michaelclarke18]

I think there will be a recession. I'm hearing about cutbacks and redundancies all the time.

[lasercat10cc]

I have been watching your videos for some time and here we have it today 22/1/2008, the markets are beginning to crash just as you have warned. Very good work and prospectively better than the retrospect experts who say I've say I told you so. Great stuff. SO put out a new video !

[JamJells]

Thank you for some good information as well as positive outlets to some darker times ahead. As long as we have family,friends, and the basic needs; We can weather the mistakes of our governments wasteful decisions of the last decade short 2 years. Thanks Gordon. Your message is well received.

[maddohartlepool]

Hello Gordon & Happy New Year!

Another great vid....

What do you think of the possibility that the Government may simply inflate the economy by printing more money to reduce the value of debt & avoid a depression (BUT at the same time devalue prudent people's life savings)?

[gordong156]

Hi Maddo - I think the inflation of money supply you mention has already happened on a pretty monumental scale - I've put a couple of links in the About This Video section for info.

[lextalionis2001]

consume less, make your own fun and buy items that you can use later (or in a pinch resell)

don't a buy a book, go to the library.

thank you gordon, your videos are entertaining and give those of us outside the UK a better insight into what is going on in your neck of the woods.

[DontTrustMeImASc]

Excellent points, Gordon, your channel has made interesting viewing this evening.  I'm gladly stocking-up on tinned food and finding free(ish) hobbies for the coming New Year...