I hate to say it but…..

I TOLD YOU SO.

Ever since I started Little Nicky Machiavelli in 2005 I have been telling you regularly there is only one end to a bubble.

And now, somewhat later than I predicted the third bubble of the Blatcherite era has burst.

So now will all those people who were keen to tell me that unbridled capitalism is the only way to organise society and to parrot the mantra “Mrs Thatcher did a lot of good for this country,” like to eat their words? With a big slice of humble pie to follow.

Market economics is just another way of saying ” selfish, blinkered short-termism. Just remember where yoiu read that as your investments evaporate, the value of your house plummets, your job goes east and inflation eats your savings.

And next time you vote VOTE GREEN. Then I will not have to say “I told you so again”.

4 thoughts on “I hate to say it but…..

  1. I’m just going to be pointedly silent and specifically not say “I told you so”. Got a good friend whose one failing is that he’s a big fan of the New Labour government and he’s most definitely not going to be pleased. Not that his job’s not secure (there’ll be a lot of jobs gone before he’s affected), but his house value’s plummeting won’t please him.

    Economies, not unlike objects under Newtonian gravity.

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  2. I’m unaware of what is happening in Britain as a result of the American economic meltdown. The USA is in deep kaka. Britain’s news simply is not reported in our news here much here in Canada, unless it has to do with the royal family and I haven’t had the time to investigate.

    My friends’s husband is a stock broker and he’s having his own meltdown as a result of what the markets are doing around the world. However, this is all part of a larger cycle and things will return in time.

    Why is the housing value plummeting in the UK?

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    1. Exactly the same reasons as in the US, bad lending and “securitisation” of mortgage debts.

      For twenty years the west has been living on false money, putting unrealistic values on notional assets and borrowing against those values.

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  3. Hi,

    Yours was the first blog I ever read (back in 2006). Then I forgot about you. “Little Nicky” screened on TV tonight. The light bulb came on over my head, so here I am.

    I’ve been making the same kind of predictions. Investing in inflated real estate is Australia’s national sport. Of course, the alternative was investing in plant and infra-structure, which is sooo boring to watch.

    Onya, Little Nicky.

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