Now now Robert, what’s all this stuff about? You sound a bit sore. I have always claimed that our property binge had nothing to do with housing but everything to do with finance. We had a binge not a boom and the problem rests with silly lending to one asset. I have traded property (and other assets) all through the boom having bought first in 1992 and in fact, sold my last property in August (in London). I’ve bought and sold at least a dozen times.
Just because you understand that the “fundamentals” arguement is bogus spin, flogged by salesmen, doesn’t mean you should not trade the asset and make money during a craze. The important thing is to realise that its mania not economics driving the process.
You say “doom and gloom” I say honest, objective commentary - unencumbered by the vested interests that have high-jacked the financial debate in the country. And as for entrepreneurial risk taking, you Robert have no idea about how I make my living other than what you decide to see in public. You have no idea how many people I’ve employed and still do, so if I were you, I’d shut up, stop whinging and figure a way to trade out of the downturn.
Yep I would say that this person that posted to McWilliams has a serious weed up his ass alright and a big chip on his shoulder to boot. Great kick back in the nuts by McWilliams though. I personally know a few people just like yer man here that probably have pictures of DMc on their dartboards at present. They sooooooooooo want DMc, Morgan Kelly and to a lesser extent George Lee to be silenced because they can’t handle the truth. Denial I think you call it with a little fear and anger complimenting it.
I note that McWilliams makes use of an old Pin convention, that of the “Vested Interests” catchall for the unholy trinity of shite ‘business’ journos, crap salesmen calling themselves economists and spivvy sleeven estate agents who supposedly ‘inform’ debate on housing and property.
The guy’s prob got a house to flip or is even a developer with a whole estate to sell. If is was him i’d be wanting the “truth mongers” to shut the hell up so i could find a gombeen mc savvy / next level down on the pyramid scheme. Public sentinent is an important part of the bursting of the bubble.