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#1 Total_Injustice

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Posted 03 February 2012 - 07:37 PM

For years my wife and I both worked hard and saved the best we could. We kept some cash and opened a Personal Equity Plan, (being in the forces I was posted to north Scotland when home was in Devon!). We sold all our shares back when the market was at 6600 pts (late 2007). Why? - Because there was a lot of volatility in the market and I couldn’t stomach the risk being presented to our housing fund. We thought that what ever it is that will ‘correct house prices’ the FTSE will be affected too. So we got into cash and waited.

5 yrs on, yes 5 years, and the FTSE is knocking on the door of 6000pts again. I read that personal insolvencies are down 11% and I believe that all the semi detached 3-beds are still way over priced. So what’s my point? Well I feel like an absolute mug. Years ago I should have been as morally bankrupt as all the other chancers riding the housing market. Instead I let caution lead me down the path of financial buggery delivered by the interest rate dildo.

So now I’ve completely had my fill of it, and yet we seem to be heading back to ‘situation normal’. The news has been decidedly lacking on reporting financial issues since Christmas and I am seriously wondering if there has been an orchestrated effort keep the 'people' happy in an effort to turn public sentiment. Problem is the ‘people’ seem happy that things are getting better.

So I ask you what are we to do? Or do we just bend over and keep on taking it?
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.

#2 200p

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Posted 03 February 2012 - 07:43 PM

I think everyone feels like that at some stage, it is what you do next that will be defining. The path to riches is a lonely path.

#3 interestrateripoff

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Posted 03 February 2012 - 07:51 PM

They have done well to keep the ponzi economy going, so far they have got away with it. Trouble the bust will be even bigger.

The problem with corrections is no knows when they will happen just that they will occur at some point.
Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

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#4 sootys_dirt_box

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Posted 03 February 2012 - 07:52 PM

You think that's bad. My wife have been saving and working and doing the right thing only to see our peers lie about their earnings and then end up paying £100 a month in mortgage payments thanks to the ridiculously low interest rates. Now while they're out spending all the money they should be using to pay the mortgage of early, we're taking a big one every month on the interest on our savings.

The fact is that this crisis has shown how immensely powerful the media is. After a few more years unless things turn round were going to just move to Germany because at the end of the day it's quality of life that matters and I cant see much of that here.

#5 Police

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Posted 03 February 2012 - 07:53 PM

Or do we just bend over and keep on taking it?

What are your choices again - I think I missed them?

#6 Total_Injustice

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Posted 03 February 2012 - 07:55 PM

I think everyone feels like that at some stage, it is what you do next that will be defining. The path to riches is a lonely path.


I hear you.

I used to comment on here quite regularly but have just been reading the site over the past 12 months. But today I’ve just had enough of the whole situation and yet we still don’t have a voice.

It just feels like the country is board of the financial crisis now, the ‘nothing to see here – move along please’ approach has worked (for now anyway). Of course some will say that the inevitable has just been delayed but who knows any more. There seems to be no level of market support that won’t be stooped to.
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.

#7 Norbert

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Posted 03 February 2012 - 07:57 PM

Well I completely understand what you are saying. The fact is, it's no longer about markets or reason, it's about the powers that be manipulating the system to hide the real problems for as long as possible.

The question is, how long can the smoke and mirrors keep going for? 1 year, 5 years, 10 years? Who knows. All I know it's impossible to know what to do money-wise

But anyway, I think "I let caution lead me down the path of financial buggery delivered by the interest rate dildo". is possibly the best quote ever on this site :)

#8 Total_Injustice

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Posted 03 February 2012 - 07:58 PM

You think that's bad. My wife have been saving and working and doing the right thing only to see our peers lie about their earnings and then end up paying £100 a month in mortgage payments thanks to the ridiculously low interest rates. Now while they're out spending all the money they should be using to pay the mortgage of early, we're taking a big one every month on the interest on our savings.

The fact is that this crisis has shown how immensely powerful the media is. After a few more years unless things turn round were going to just move to Germany because at the end of the day it's quality of life that matters and I cant see much of that here.


Just had a positive reply to a CV I sent to New Zealand (not got a job yet but have made it through the sifting process). Some how it feels like we are giving in but enough is enough.
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.

#9 Total_Injustice

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Posted 03 February 2012 - 08:01 PM

But anyway, I think "I let caution lead me down the path of financial buggery delivered by the interest rate dildo". is possibly the best quote ever on this site :)


Cheers.
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.

#10 Total_Injustice

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Posted 03 February 2012 - 08:09 PM

They have done well to keep the ponzi economy going, so far they have got away with it. Trouble the bust will be even bigger.

The problem with corrections is no knows when they will happen just that they will occur at some point.


I have read your posts on here for years now (my profile says I joined in 2009 but I actually joined back in 2006). I have no idea how you keep going.

If I read too much, or get too involved I get really pi$$ed off. I just can't believe the plates have been kept spinning for so long (the power of QE, IRs etc is a force to be reckoned with).
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.

#11 zebbedee

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Posted 03 February 2012 - 08:21 PM

I feel your pain, holding out for years, first knew something was wrong with the economy and house prices back in about '04 so I'm a little more p!ssed off than you. I didn't think they could keep the illusion up this long, but keep seeing overpriced sh!t boxes for sale, we have about 75% deposit which HMG/BoE is doing thier damndest to destroy, so if one of us has a permanent job this year (I'm just about to become unemployed, she's on contract) we're going to say fluck it. So give it to the end of the year and the market will tank all props having been removed a couple of nano seconds after we buy :angry:
As I wandered in the darkness a voice came unto me, it said "smile, be happy, things could get worse". So I smiled and was happy and behold, things did get worse.

"Credit is indeed vital to an economy, but it does not constitute an economy within itself. ... When businesses borrow to fund capital investments, the extra cash flows that result are used to repay the loans. When individuals borrow to spend, loans can only be repaid out of reduced future consumption."-Peter Schiff, Jan 19 2009; <a href="http://www.321gold.c...iff011909.html" My link

"The bold effort the present bank had made to control the government... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."-Andrew Jackson on the Second Bank of the United States

"The problem with socialism is that eventually you run out of other people's money."-Margaret Thatcher

"If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public liberty, war is perhaps the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes; and armies, and debts, and taxes are the known instruments for bringing the many under the domination of the few. The loss of liberty at home is to be charged to the provisions against danger, real or imagined, from abroad." - James Madison

"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
John Kenneth Galbraith

#12 interestrateripoff

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Posted 03 February 2012 - 08:21 PM

I have read your posts on here for years now (my profile says I joined in 2009 but I actually joined back in 2006). I have no idea how you keep going.

If I read too much, or get too involved I get really pi$$ed off. I just can't believe the plates have been kept spinning for so long (the power of QE, IRs etc is a force to be reckoned with).


This is a bit of stress relief for me. :lol:

I'd probably explode if I couldn't post.

I have to say I'm impressed with how they've managed to hold it all together, but the stresses are growing medicare and medicaid are mathematically impossible to fund, reality is slowly creeping up the sensible action is to admit it now. However that of course won't happen, especially as the magic printing press has been discovered.
Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

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#13 Spot

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Posted 03 February 2012 - 08:29 PM

Life's sh1t, and then you die....

#14 Shotoflight

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Posted 03 February 2012 - 08:29 PM

Well I completely understand what you are saying. The fact is, it's no longer about markets or reason, it's about the powers that be manipulating the system to hide the real problems for as long as possible.

The question is, how long can the smoke and mirrors keep going for? 1 year, 5 years, 10 years? Who knows. All I know it's impossible to know what to do money-wise

But anyway, I think "I let caution lead me down the path of financial buggery delivered by the interest rate dildo". is possibly the best quote ever on this site :)



Not only that but the batteries are Duracell :(

But you know what - even Duracell batteries can't last forever.

#15 Total_Injustice

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Posted 03 February 2012 - 08:29 PM

We have about 75% deposit which HMG/BoE is doing thier damndest to destroy...


+1

.. give it to the end of the year and the market will tank all props having been removed a couple of nano seconds after we buy…


This is exactly the same for us. I just know that as soon as I yield they'll start playing a different game, and yet again we'll be buggered.
Recovery - Noun

1. The act of recovering from sickness, a shock, or a setback
2. Restoration to a former and better condition
3. The regaining of something lost
4. The extraction of useful substances from waste

Collins Essential English Dictionary 2nd Edition 2006 © HarperCollins Publishers 2004, 2006

If RECOVERY is what the country thinks the housing market needs then we're all fuc*ed.


Our taxes are effectively be paying the mortgages of all those 'rescued' over the past few months, and all those on 0.5% interest rates.




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