Sunday, Dec 09, 2007
David Smith claims credit for the base rate cut
Times: Well-judged jab of confidence for UK
"THE pebble I started rolling down the hill this time last week, calling for an interest-rate cut by the Bank of England, had turned into a boulder by Thursday lunchtime. The noise was deafening. Some say monetary policy is dull. Not these days." ... he needs mental help, clearly
Posted by confused76 @ 08:49 AM (283 views) Add Comment
6 Comments
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1. Mark said...
an email we sent to david smith
HI
I am not sure where you get your data you quote the following
Some will say mortgage lenders never predict house-price falls, but they do. In 2004, Halifax predicted a 2% fall for 2005 and, going further back, it had a 1989 forecast of a 10% drop in prices during 1990. On both occasions it was too gloomy – prices rose.
prices did not rise in 1990, they were in fact mid crash and plummeting faster than confidence in your articles if you continue to write such utter rubbish..
We run a very successful business and were also owners of 17 BTL until we sold out last year seeing a major downturn.. Inflation is rife... Asset prices are at least 50% overvalued yet you think otherwise judging from what you write!!! How on earth do you come to your conclusions??
It is very gloomy and rate cuts are making it worse allowing real inflation to get out of control, our rate is around 9% what is your rate?? This is what you should be reporting...
Why politics cut rates, not the bank!!
Thank you
2. Mark said...
this is his reply, what a t*t..lol
Get back in your box. If you care to check the Halifax website you'll see that prices in December 1990 were 0.8% higher than in December 1989. It is a common misconception - the big price falls happened in 1991 and 1992, but slightly disturbing from somebody who claims to know about property.
________________________________
From: mark [mailto:]
Sent: Sun 09/12/2007 10:23
To: Smith, David (Sunday Times)
Subject: re- recent article jab of confidence
3. paul said...
David Smith has never, ever got it right.
It really is best to ignore such morons.
4. Mark said...
this is the latest reply from david smith to my email...wonder what his bosses will think of him insulting readers...
<99FF9C9E7D8AE34DB395698572E1A07503CE0383@NIEXMAIL04.ni.ad.newsint> <0B83C34A-66F4-4226-8F4B-2C981B4EFF25@zuus.co.uk>
References:
From: "Smith, David \(Sunday Times\)"
To: "mark"
Well you need to check again - it is quite straightforward. And don't =
give me stupid comments about self-preservation - if I had a property =
portfolio I'd declare it. Sad little man.
________________________________
To: Smith, David (Sunday Times)
Subject: Re: re- recent article jab of confidence
and you know what exactly... we have checked figures going back as
far as we can ..
somehow your articles stink of self preservation as if you need to
keep your property prices high!!
Try reading some of the articles in your own paper...lol
5. Hotairmail said...
When I picked up the Sunday Times and read his article starting 'the pebble I started last week' - I was stunned at the arrogance and self importance of this journo. They say as much as 5-10% of the population display psycopathic tendencies to some extent...this is classic behaviour - everyone has met somebody like him in their workplace. Robert Peston of the BBC and Northern Rock leaks fame is another.
6. geed said...
Posted this comment below the article
"Some will say mortgage lenders never predict house-price falls, but they do. In 2004, Halifax predicted a 2% fall for 2005 and, going further back, it had a 1989 forecast of a 10% drop in prices during 1990. On both occasions it was too gloomy – prices rose."
Prices rose in 1990!!! Maybe on Mars! Where oh where do you get this nonsense from?
The BoE have lost control and the hugely inflated housing market is leaking and no amount of interests rate cuts will serve as a big enough patch. Houses are far too expensive Mr Smith and the cheap credit has dried up, No more credit, no more HPI.
I now read your column for therapeutic reasons only as it makes me laugh out load every time I read it."
I am astounded that he is allowed to post such blatent inane lies!!