Who wants to be a millionaire

[Euler]

This is a really good piece of journalism.

http://www.bbc.co.uk/iplayer/episode/b0 ... llionaire/

[LeTiss 4pm]

I watched it, really interesting program

I enjoyed the Robert Kiyosaki section because he seems fairly down to earth, and has a definitive structure to what he's preaching

T Harv Eker is a wanker, so is the British guy who followed. Watching people rubbing their ears etc is like inducting them into a cult. The British guy makes money primarily from getting people running around rooms all day.

I felt sorry for the young couple, and Janet the nursery teacher because you just know they will still be doing what they are doing now in 10 years, or the woman who is nearly bankrupt from paying for courses, yet expects to be worth £7M in a few years

I was expecting Peter Webb to appear!
A wealthy trader who makes shedloads from courses, even though 99% of attendees will never make the grade

[Euler]

Not so sure about the shedloads!

Obviously where everybody is going wrong is that they need to rub their ears and chant mantras all day long instead of actually doing it. So today I wont look at the markets I'll just repeat to myself that I will be successfull. That should do it!

[superfrank]

i watched this the other eve... the British all want to get rich thru, surprise surprise, property investment.

the ex-nurse who is part of the older couple with 29 properties, "we need the people who don't want to go out to work and want to just live and be DSS tenants".
- yeah so they can get rich off housing benefit (i.e. the taxpayer). these people are just leeches and the welfare/tax system should do something to prevent this kind of crap.

[Euler]

I think that students should be taught from a very young age about how real wealth is created through investment, innovation and considered risk taking. I am sure that would deliver long term benefits for any economy, if mindsets can be changed.

[superfrank]

years ago I had a mate who lived in a bedsit in Finchley - the landlords claimed it was Bed & Breakfast accommodation thus claiming much higher rates of housing payments from the state. each week they delivered a box of cornflakes and 2 cartons of orange juice to each bedsit.

i hate landlords. unproductive scumbags.

[LeTiss 4pm]

I think that students should be taught from a very young age about how real wealth is created through investment, innovation and considered risk taking. I am sure that would deliver long term benefits for any economy, if mindsets can be changed.

I don't dispute that at all, that why I think Kiyosaki is worth listening too

T Harv Eker is just getting people to do exercises and slap each other on the back. He makes most of his fortune from these poor souls. People like him alienates me from this whole genre, he's completely full of piss and wind

[Euler]

The clever thing about the way the documentary was done was that the journalist was obviously exposing the futility of some of these characters without actually saying it. She was asking some very subtle questions and letting the person step into them for the viewer to be the judge. Really excellent journalism.

[superfrank]

most of the people who got rich from these wealth games did so because they we're able to borrow money very cheaply and buy assets that were rising in price (due to nothing more than the credit boom). they then leveraged those gains and repeated the cycle.

when the credit crunched happened most of these types should have been wiped out (and most deserved to be because the investments were based on greed and no particular talent - they just got lucky with the timing). governments and central banks have bailed them out doing everything possible to maintain high asset prices (I know I've said that many times, but it's true!) and lumbered the taxpayer and future generations with all the debt.

anyone who thinks they can do the same thing in the coming years is in for a rude awakening.

[Ferru123]

Something that's missing from the current political debate about cuts is the idea that economies only get wealthier through exports, investment and innovation.

And sadly, Britain no longer exports much, there are far better places in the world to invest, and other countries can profit from our innovations (the World Wide Web being a classic example)...

Building a prison might boost GDP, but we're kidding ourselves if we think it will deliver any meaningful long-term benefit to the economy!

Jeff

I think that students should be taught from a very young age about how real wealth is created through investment, innovation and considered risk taking. I am sure that would deliver long term benefits for any economy, if mindsets can be changed.