The Debt Trap Time Bomb: Good Old Jeff Randall Says It All

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The Debt Trap Time Bomb: Good Old Jeff Randall Says It All He has been warning of all this since 2003... Rate Topic:

#1 eric pebble

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Posted 31 October 2011 - 04:45 PM

The debt trap time bomb

With Britain's households now owing £1.5 trillion in mortgages, overdrafts, loans and credit cards, the day of reckoning nears, warns Jeff Randall.

"In 2003, I wrote a piece for the BBC, warning of the debt trap: “British consumers are living in a never-never land of very high personal borrowings. They simply cannot carry on spending more than they are earning without a hard landing.”

HA!!! 2003..... That's when I first started to look at HPC --- and I joined in 2004 -- saying EXACTLY what Good old J Randall is saying now - telling it how it is...... and ANYONE with a brain could have seen all this coming since at least 2003..... :rolleyes:

This has been going on for FAR, FAR too long..... :rolleyes:

And LIAR LOANS are STILL the KEY to all of this - and the most DEPRESSING feature of the UTTER MADNESS of the last 15+ years.....

THANKS NIUE LABOUR - YOU T%SSERS! :angry:

See all here: - http://www.telegraph...-time-bomb.html

This post has been edited by eric pebble: 31 October 2011 - 04:52 PM

What the media today are still not telling us in full - for some reason the lid is being kept on the whole story:
HERE IN THE UK: THE UK SUB-PRIME CATASTROPHE - IT IS NOT ONLY IN AMERICA!! THE UK LIAR LOAN INDUSTRY - Source of FICTITIOUS "MONEY", and the principle driver of the House "Price" Pyramid/Ponzi Scam & Bubble, the "Credit Crunch" - and an unacknowledged major part of and cause of the ensuing Worldwide Financial Crash.
---------------------
The following was reported in a superb documentary in late 2003 - This is now nearly 10 years ago!! Since then little has been done here in the UK to dig down deep on this vast elephant in the room: Why? If you're a serious journalist - here's your story - start investigating - it is the biggest financial scandal of all time:
THE ARTICLES BELOW ARE FROM AS FAR BACK AS 2003!!

Mortgage customers 'urged to lie' - All this was way back in 2003 by the way!!
Housebuyers are being encouraged to break the law in order to obtain huge mortgages, the BBC has discovered. Brokers, and even banking staff, have been telling buyers to lie about their incomes to get bigger and bigger loans. And these underhand tactics could also be the reason why house prices have gone on rising for so long.
CLICK HERE - http://news.bbc.co.u...ess/3222053.stm

"Could you believe that a bank would invite customers to defraud it? It may sound incredible, but that is what some of Britain's biggest mortgage lenders have in effect been doing."
CLICK HERE - http://news.bbc.co.u...ess/3478635.stm

The BBC Money Programme uncovers massive mortgage fraud [2003!]: BBC TWO's The Money Programme has revealed a huge mortgage fraud with brokers from some of Britain's biggest estate agents and financial advice groups advising customers to break the law and lie about their incomes to get massively bigger mortgages. And it shows how the illicit cash raised by this method has been pouring into the housing market, boosting prices and leaving many people risking financial ruin.
CLICK HERE http://www.bbc.co.uk..._mortgage.shtml

AND READ THIS: - http://www.housepric...howtopic=152508
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WATCH THE VIDEO OF THE 2003/4 DOCUMENTARY HERE: - http://www.youtube.c...d&v=vT1UnGS91BY
Click on parts 2 & 3 as you go along watching this video.
------------------------------
AND WATCH THE LATEST VIDEO OF LIAR LOANS STILL IN ACTION HERE in 2008 - http://news.sky.com/.../20080641317257

#2 TheCountOfNowhere

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Posted 31 October 2011 - 04:52 PM

eric pebble, on 31 October 2011 - 04:45 PM, said:

This has been going on for FAR, FAR too long..... :rolleyes:

And LIAR LOANS are STILL the KEY to all of this - and the most DEPRESSING feature of the UTTER MADNESS of the last 15+ years.....
THANKS NIUE LABOUR - YOU T%SSERS! :angry:

See all here: - http://www.telegraph...-time-bomb.html

You are J Randall, aren't you ?

#3 eric pebble

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Posted 31 October 2011 - 05:06 PM

TheCountOfNowhere, on 31 October 2011 - 04:52 PM, said:

You are J Randall, aren't you ?

I wish!

#4 Mr. Miyagi

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Posted 31 October 2011 - 06:48 PM

To paraphrase the article.

We are all Fecked

We make sacred pact. I promise teach karate to you, you promise learn. I say, you do, no questions.

#5 ClunkingFist

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Posted 31 October 2011 - 07:35 PM

The same Jeff Randall who share-tipped RBS at the end of 2006? I think he described it as a "quality business"...

#6 eric pebble

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Posted 31 October 2011 - 08:20 PM

Randall confirms beyond doubt that the BBC was [and still is] a completely pro-Nieue Labbia organisation - and at the time was licking that Fagot G Broon's @rse....

"In 2003, I wrote a piece for the BBC, warning of the debt trap: “British consumers are living in a never-never land of very high personal borrowings. They simply cannot carry on spending more than they are earning without a hard landing.”
This message did not go down well at Television Centre. I largely failed to get the corporation’s news editors to take it seriously, with one accusing me of overcooking the story in order to denigrate Labour’s success"

#7 'Bart'

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Posted 31 October 2011 - 08:31 PM

Quote

They simply cannot carry on spending more than they are earning

But surely that's the only way to achieve "growth"?

#8 Take Me Back To London!

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Posted 31 October 2011 - 08:42 PM

I always thought interest only mortgages were suicidal and made even those endowment mortgages punted in the late 1980s and early 90s look good.

This post has been edited by Take Me Back To London!: 31 October 2011 - 08:46 PM

Bankers may well have acted as if they’ve been sitting in the casino during the boom years. But it was a state-owned casino, with governments as the croupiers, and central bankers behind the bar giving out free booze.

John Stepek

#9 Blod

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Posted 31 October 2011 - 08:50 PM

'Bart, on 31 October 2011 - 08:31 PM, said:

But surely that's the only way to achieve "growth"?

Even this morning they had Danny Blanchflower spouting that line of borrowing to invest. God he's a muppet, why oh why did he every get onto the MPC I'll never know. :angry:

#10 Zanu Bob

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Posted 31 October 2011 - 09:19 PM

eric pebble, on 31 October 2011 - 08:20 PM, said:

Randall confirms beyond doubt that the BBC was [and still is] a completely pro-Nieue Labbia organisation - and at the time was licking that Fagot G Broon's @rse....

there's no need to slag off the ponzi loving zanu BBC is there?who'll do the period drama's and pay dimblebore his bloated zanu salary extorted under threat of imprisonment if people don't submit to the most regressive tax around.

that's it,make people on minimum wage work the best part of a week so the lucky guardian reading,hand wringing few can have a cushy life discussing sh1t books that noone else reads.

Blaming greed for a banking crisis is like blaming gravity for an airplane crash. Injin 10/12/2009 (a rare moment of clarity)

Red Kharma, on 31 May 2010 - 11:51 AM, said:

Most gold buyers will get creamed, eventually and for the very reasons they think they won't.

#11 Zanu Bob

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Posted 31 October 2011 - 09:19 PM

here's some of the cu**s

Blaming greed for a banking crisis is like blaming gravity for an airplane crash. Injin 10/12/2009 (a rare moment of clarity)

Red Kharma, on 31 May 2010 - 11:51 AM, said:

Most gold buyers will get creamed, eventually and for the very reasons they think they won't.

#12 Zanu Bob

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Posted 31 October 2011 - 09:23 PM

Zanu Bob, on 31 October 2011 - 09:19 PM, said:

here's some of the cu**s

I can't believe we subsidise these people.worse than f***king bankers.

Blaming greed for a banking crisis is like blaming gravity for an airplane crash. Injin 10/12/2009 (a rare moment of clarity)

Red Kharma, on 31 May 2010 - 11:51 AM, said:

Most gold buyers will get creamed, eventually and for the very reasons they think they won't.

#13 eric pebble

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Posted 31 October 2011 - 10:31 PM

I quite like that Marina Hyde bird....

As for that uphill gardener Hari - well ...... Say no more :rolleyes:

#14 Charlie The Tramp Returns

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Posted 31 October 2011 - 10:43 PM

Quote

eric pebble

The curse of the Bankers, a silent hero who will eventually get his just reward.

I have been studying the European Economic Community which became the European Community and finally becoming the European Union since the 1st January 1973. As each year passed the stench of corruption, financial recklessness, and Dictatorship has got totally out of control.

In an interview,( on holiday in the exclusive Swiss ski resort of Davos ) the Liberal Democrat leader was asked whether he was in charge while the Prime Minister was away from Britain travelling in the Middle East. Sipping from a mug marked “Deputy Prime Minister,” he said: “Yeah, I suppose I am. I forgot about that.( Proves what a total berk he is )

Cameron must learn the basic rule in politics and life ( Put brain in gear before putting mouth in motion ) and Miliband with no direct British Lineage should dig a hole and disappear down it.

Is Nicholarse Elcleggski ( 25% British ) insane? Who, in their right mind would willingly appease the French and Germans?

In our Country today THE TRUTH MUST NEVER BE SPOKEN, I will leave you all with your very bleak future as I will be gone.

The Lib/Dems who over the years have supported the demise of the moral and accepted standards we were all brought up to respect. The party who would lead us the way of the Ancient Greek and Roman Empires. We can Add David Cameron and Ed Miliband as Leaders of their parties who are heading for the buffers

#15 Orsino

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Posted 01 November 2011 - 12:13 AM

Jeff Randall, who was increasingly critical of the unsustainable boom being created by financial fraud and political connivance, resigned from the BBC in late 2005. He was replaced by Robert Peston, son of the Labour peer and economics advisor Maurice Peston. Fancy that!

They breathe profits; they eat the interest on money. If they don't get it, they die the way you die without air, without side-meat."
- John Steinbeck, The Grapes of Wrath

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House Price Crash forum: The Debt Trap Time Bomb: Good Old Jeff Randall Says It All - House Price Crash forum

The Debt Trap Time Bomb: Good Old Jeff Randall Says It All He has been warning of all this since 2003... Rate Topic:

#1 eric pebble

#2 TheCountOfNowhere

#3 eric pebble

#4 Mr. Miyagi

#5 ClunkingFist

#6 eric pebble

#7 'Bart'

#8 Take Me Back To London!

#9 Blod

#10 Zanu Bob

#11 Zanu Bob

#12 Zanu Bob

#13 eric pebble

#14 Charlie The Tramp Returns

#15 Orsino

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House Price Crash forum: The Debt Trap Time Bomb: Good Old Jeff Randall Says It All - House Price Crash forum

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