"Enjoy reading it? I did, I did!!" [Steven Spencer, Spencer Associates, Commodities Consultant]
"Quite. And why should the banks worry about risky lending? They now know that when things go pear-shaped they will always be bailed out by Government - with our money! It amounted to £20,000 for every man woman and child in the UK last time round!" [ Ian Francis, Commissioning Editor, Earth & Environmental Sciences]
"Emile, as usual, you are 'right on the button'. The automotive world, in which I have a specific interest, is definitely the next 'sub prime' bust that will arrive. When was the last time that you saw a car advertisement showing the actual list price of the vehicle? £30,000 or £40,000 or even £50,000, or more, looks like a lot of money to the average buyer - but £299 per month does not. The whole industry is heading for a cliff edge before very long." [James Luckes, Chairman, Languedoc Gentlemen's Economics Forum]" Insightful and, I fear, you are spot on in your analysis" [Sid Bright, Chartered Accountant]
Actually, the memory of 10 years ago is being completely suppressed in the U.S. as any controls of the banks (read Dodd Frank) and other lenders are being eliminated in the rush to expand lending and otherwise giving them carte blanch to make deals.
[Donald R Dann, Leading Conservationist - 15-8-17]
What a fantastic CV!! I will only repeat what I have often said to you – what a pity no one here listens to you.
Thank you for sending it to me
15 - 8 - 17 - Don Bailey OBE
The answer is “no”. I didn’t enjoy reading it as it spells gloom and disaster. When will the EU stop quantitative easing? Every time I pass a car dealership and see the millions of pounds stuck on the forecourts I ask myself “who is ever going to buy this lot!!"
15 - 8 - 17
"Marvellous, dear Emile. Thank you ever so much for this wonderful brief chronology!"
Richard Elias, Hyperion Insurance Group
"This is brilliant! I don't know much about the intricacies of economics but it all makes a lot of sense!" [Joanna Lapage-Brown, 15-8-17]