Saturday, Dec 29, 2007
Straight-talking from the BBC
BBC: Moneybox: Life after crunch
A remarkably honest broadcast from the BBC. If you listen to the programme, there is a good section on house prices and the economy in general, with one "expert" willing to admit that he's not sure what will happen. An impressive breath of fresh air.
Posted by dohousescrashinthewoods @ 01:24 PM (718 views) Add Comment
11 Comments
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1. Dohousescrashinthewoods said...
A question on behalf of my wife - can anyone comment on this: (slightly off topic)
If there is no more money and the government get pinched, can they just decide to take our money we have worked for?
I guess there is always extreme taxation and the like, but have any of the recent laws given them an opening? After all, if they can repeal habeas corpus, they can surely pass something that allows them to alter our banks' databases?
2. sovietuk said...
This will be the year when things really start to hurt for many people in Britain and hurt badly. Everything looks set to turn very nasty indeed with increasing unemployment and fear of unemployment making matters particularly bad. To inflame the situation we have a government and prime minister who in many people's eyes are simply now just taking the p*ss with the way they throw tax payers money around. Upset people and mock them at the same time, don't expect that no consequences will follow.
3. Equitystasher said...
Nice to hear the BBC presenter challenging the view of the Countrywide spokesman calling him a vested interest and debunking his affordability claims.
I have noticed a overall change in the BBC attitude over the last few weeks and it is far more bearish. Evan Davis prediction of 5%-10% house price falls with possibly of more if there is futher bad news is at the more bearish end of the spectrum. Just look at the HPC front page and see where his predictions line up.
Hopefully with the BBC on board which is one of the most respected voices listened to by the sheeple the tide has turned and is on its way out at a rapid pace.
4. alan said...
I'm surprised that the English are so complacent. If this was France there would be protests at the way this government has insulted people.
5. su said...
Alan. "I'm surprised that the English are so complacent. If this was France there would be protests at the way this government has insulted people."
Aah, the English: stiff upper lip, carry on as normal, don't make a fuss. Don't want to be like those emotional continentals, hey, what! :-)
6. denzil said...
Regarding the blog comment, "A remarkably honest broadcast from the BBC".
Overall the BBC are not too bad. MoneyBox is pretty good. The real problem with one-sided reporting is BBC Online especially BBC Business Online. I've never quite figured out whether they are one-sided or stupid but I'm prepared to give them the benefit of the doubt and guess they are probably not one-sided.
7. Youkay said...
@su - long time no hear.....(missed your calming influence...!)
I was also pleasantly surprised to hear Evan's -ve 5-10% hp (correction) forecast & public Peak Oil (resource depletion) concerns together with general economic pessimism on R4 2008 correspondants' predictions prog this pm (can't find link at the moment).
greater awareness is surely positive...truly interesting times lay ahead in 2008
8. planning4acrash said...
Do house. If government wants more cash, there are the obvious, cut spending or raise taxes. Alternatively, like banks, they can generate cash from thin air and sell the debt as bonds to the money markets. Government backed bonds do well in credit crunch because they, unlike private bonds, come with a government guarantee. Their yields will be low because of low risk at a time when risk is being avoided, so it is a cheap time for government to borrow, as is the case with other low risk bonds, such as long term private company pensions (which is why the company pension deficit has dissapeared over the past yr as more companies issue bonds for pension funds). Unfortunately this stupid government has over borrowed during the good times so most like it will have to cut spending and try to increase taxes, just as inflation is hotting up. Not looking too good. In the end, I think that you and I will end up paying for it with a lower standard of living over the next 2-5yrs as we inflate our way out of debt, have some reduction in public services (or their growth), and have taxes continuing to squeeze possibly more than they should.
9. Duncan said...
To give a further answer to the first question the answer is in the phase "If there is no more money"
If the Government wnat to create it there will always be more money. The Government in Zimbawe
creates Trillions of almost worthless dollars each day. The BOE created all the money it has lent to
Northern Rock. The Government doesn't have to take the money you have, they just devaluate it.
:- Duncan
p.s. Todays 90s Flashback is the day the pound fell out of the ERM. On the plus side I had a fixed rate
mortgage and was going round smugly telling everyone "I'm alright. My Mortgage is fixed at 12%"
On the downside I was intending to buy a Japanse camera costing £200. Within a week it was £260
due to the pound devaluating.
10. justwatching said...
Denzil @6, I'm not so sure about the BEEB, especially when it comes to the main news broadcasts. The recent Nationwide data made the ITV news as the third story ish. With the beeb, at 6 o'clock it was buried inside another article (albeit about mortgages)
They totally missed reporting the last RICS survey findings, but were quite happy to lead with the story the last time surveyors reported a positive survey.
I have quite a negative opinion of the beeb and the positive spin they put on news stories. Cumulaitive effect really. Did they report last months Halifax data, or did they have a 10 minute report on scampi going from scotland, to thailand & back again?
11. planning4acrash said...
Then again, must the beeb really cover house prices as much as we do?! If you want the best news in the world, listen to BBC world service. At the end of the day, a short news program, even 10'oclock news, can only ever scratch the surface. I dislike the anti-BBC sentiment here, because nobody tempers it with the reality that sky news, ITV, Ch4 are no better. At least you get debate on news like question time, etc. Anybody who gets all their facts from 10oClock news is an idiot anyway, I think you guys expect too much from scheduled news programes, they only have enough time to show headlines.