Don't invest in property, says credit crunch guru

Lapin à la moutarde

Seriously good eating!

1 farm-raised or wild rabbit, cut into serving pieces, including the head if possible
1/2 c. smooth Dijon mustard (moutarde forte)
1/2 c. old-fashioned grainy Dijon mustard (moutarde à l'ancienne)
Kosher or flaky sea salt and freshly ground pepper
1/2 c. dry white wine, such as Chablis
1 c. crème fraîche
2 T. snipped fresh chives

1 T. olive oil
1 onion, chopped
1 leek, sliced
1 medium carrot, coarsely chopped
2 leafy stalks celery, sliced
Bouquet garni of 6 parsley sprigs, 1 bay leaf, and 6 leafy thyme sprigs
6 peppercorns

• 21 May 2010 12:11 PM

The Debt is horrendous. We live in a greedy and materialistic society unfortunately. We should dig in for a few years very hard taxation and take it on the chin. Start growing your veggies and breeding your rabbits (I couldn't really eat one), make do and mend and get on with it without moaning. You won't actually die if you can't afford an exotic holiday, a new car or a bigger house. If you think we have it tough then you haven't travelled enough.

• 20 May 2010 14:18 PM

To maintain a civil society.
When I was learning Estate Agency Radio 4 was the place (and still is) the place to get 24 hours advanced notice on the news; what to buy what to sell. Un-biased and intelligent opinion. For the past 10 years Radio 4 has been constantly been pumping out just how bad things have been getting,I don't need to know what the National Debt is, I have been watching it grow and grow for 10 years and have been outspoken about the free finance readily available to the whole of society. I know that we who have are going to pay a fair chunk of our accumilated artificial wealth to get the economy back onto a sound footing but I count myself very lucky that what I have learnt as an Estate Agent has put me in a far more privilaged position to deal with the re-adjustment than those at the other end of the false wealth scale.
No-one has uttered the words inflation yet but as far as I can see that is going to be the painful bit, especially when inflation gets controlled by interest rates.
As for Nassim, his advice is just a churn of Mark Twain's advice to buy land.

• 19 May 2010 21:33 PM

Please expand, "for who", I mean for everybody. Just google "how much is britain in debt", where do you think the money is going to come from to raise this...the taxpayer. They're already talking about adding VAT to essential items such as food that were exempt before, and maybe even increasing VAT to 20% (recommended by the IMF) and that is just the start. If you don't believe me, that is fine, that is your own opinion but I choose not to ignore what is REALLY going on in the world and what the propaganda the press would have you believe. Greece was the start of what is soon going to be worldwide (obviously all in my own opinion).

• 19 May 2010 13:48 PM

"In my opinion things are going to get very tough, and soon"

For who? everyone or just those who have been encouraged/allowed to borrow more than they ought by a government that borrowed more than it ought.
Do exactly the opposite of what these gurus tell you to do and you are normally doing what they are up to. If you get your tips from a Bookmaker expect your horse to lose.
Nassim has probably got a parcel of farmland bought 10 years ago before the prices went up and simply wants to maximise his returns so he can invest in the Real Estate that he is encouraging onto the market.

• 19 May 2010 10:27 AM

Wise words, I would recommend that anybody who reads this article actually looks into how much the UK and USA is in debt to countries such as China. It is astounding. Look where our money comes from as well and how the govt has to buy it, it is a never ending vicious circle that will soon implode. In my opinion things are going to get very tough, and soon.

• 19 May 2010 09:32 AM

I recommend reading his book 'Black Swan'. I've enjoyed it.

• 19 May 2010 08:28 AM