Read more: http://www.sovereign.../#ixzz20F8V1Sat
Reminded me of an old one
I wonder how Christina is getting on?
Christina, 47, from Pimlico, west London, bought the property for 300,000 euros in 2008 (£250,000 at the time). She has been considering selling the property to invest in a buytolet in the UK. However, she is rethinking this strategy in light of the current situation.
'The rent is covering the mortgage and other costs,' she says. 'The Algarve has been awful property-wise because of a glut of supply. But thankfully, they are not matching supply in other parts of the coast, which are more attractive and cheaper.' As head of the Portuguese Chamber of Commerce in London, Christina has a good grasp of the country's economy and is upbeat about the prospects for her property.
Even if Portugal left the euro and returned to using the escudo, she believes the impact would not necessarily be negative - and might even increase property prices.
Now would be a bad time to sell, she believes, as many properties have gone on sale because 'people have taken fright' at the country's financial malaise. But if she was offered 320,000 euros (£266,000), she would probably sell and reinvest in Britain.
Christina says: 'I'm confident that if I sit on it for a year or 18 months, I will be OK because then I will have more than one buyer to choose from.'
Read more: http://www.dailymail...PIGS-storm.html
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to
Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
I want to tell you my secret now.... I see debt people