Thursday, May 29, 2008
"Fifth night" destruction accelerates
The Telegraph: House prices fall by biggest margin in 17 years
House prices fell by 2.5 per cent this month - the biggest monthly drop since records began 17 years ago, according to Nationwide figures.
Posted by sold 2 rent 1 @ 09:57 AM (1788 views) Add Comment
37 Comments
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1. sold 2 rent 1 said...
The "fifth night" destruction will accelerate into June and peak on 6 July with a change of consciousness.
There will be more bank bailouts.
The robbery will be complete.
GBP will fall off a cliff.
Unemployment will start to rise sharply
Hope you guys have gold.
2. mark wadsworth said...
Sweet! Today is going to be a golden day on HPC, like when the Halifax reported a 2.5% monthly fal in (I think) March!
Where's my deckchair?
3. theboltonfury said...
and what use is this inanimate metal going to be if there is the total distruction in the financial system that you talk of? If currency, as you say, becomes worthless then what's the point of having a soft, useless metal? Don't you only have that metal as a means to accrue currency?
surely gold is only viable if it's means of exchanging for currency is intact. You certainly can't just walk around offering slivers of bullion to people in exchange for goods
4. sold 2 rent 1 said...
MW,
Anyone with a large amount of savings in GBP will not be celebrating by the autumn.
This news almost guarantees another 100-200bn bailout to the banks.
The taxpayer will be loaded with debts that can never be paid.
GBP will fall like a stone.
The immigrants and smart people will leave the country.
The ones left will just declare themselves bankrupt.
Enjoy the champers today guys.
Tomorrow you will have a hangover to deal with.
5. Dave The Dog said...
theboltonfury #3 . . . I think you may have spotted a vested interest in pushing up the price of that useless yellow metal! : )
6. sold 2 rent 1 said...
theboltonfury,
P4AC talked about gold becoming a de facto standard.
You don't need lots of money to open a bullionvault account. I think you can buy 1 gram.
All it would take is for bullionvault et al to add payment/transfer facilities to their website functions and hey presto you have the beginnings of a de facto banking system, where money is VALUE and not debt.
As for the final evolutionary test in 2011, individual wealth will not be the deciding factor on who passes or fails.
I am guessing that those who can co-create together without any money at all will pass the test.
Remember we have 2 levels of consciousness to go through before enlightenment. The first will require gold at its core, the second won't require gold at all. These are difficult concepts to grasp.
7. bystander said...
S2R1 - I believe you firmly believe your own rhetoric, but your constant banging on about buying gold is beginning to make me feel you are a VI desperately talking up this commodity. Yes gold is a very valuable and precious metal, but it has not been used as a currency for many many years and before it appeared, we used to barter, are you suggesting that the goods and chatels we used to 'swap' will no longer exist and if so will gold be the only transferable 'wealth' commodity. In times of uncertainty we cling to what we know, but these times also allow VI's of all persuation to push their own agendas. You ideas and theories are interesting, but try not to sound too much like a gold 'bug', it damages the strength of your argument.
8. paul said...
S2R1 - you - of course - own gold yourself, right?
9. montesquieu said...
Religious ravings of any sort are just that - ravings.
We may well be in for a set of profound geopolitical and economic shifts in this century, what with a mainly 'western' debt crisis, the rise of China and other emerging economies, population overload, peak oil, and the possibility of environmental catastrophe, enough to rival any previous period of change.
But anyone who thinks the way this unfolds can all be predicted (whether by Mayans, Martians, the rolled up trouser brigade of the New World Order, or Dick Cheneys' cat) is living in cloud cuckoo land.
10. hpwatcher said...
sold 2 rent 1
I think you are talking about a very worst case scenario. I would say that you are only going to be right to a [small] degree.
11. Burntgreenfinger said...
"All it would take is for bullionvault et al to add payment/transfer facilities to their website functions and hey presto you have the beginnings of a de facto banking system, where money is VALUE and not debt."
I think goldmoney already does this.
I find the Mayan conscienceness ideas interesting. What do you actually mean by "co- create?" Is this purely spiritual or a means by which to trade and live a sustainable life away from the influence of those that would have us in servitude for the rest of our lives?
12. Fubar said...
This "fifth night" stuff is nonsense. Yes the crisis is coming at us like a perfect storm but it's not in line with any prophesies. It is because of people. Flesh and Blood with names and addresses and breakfast preferences and it will be people getting on with dealing with the crisis that will shape the economics of the recovery. Not a Mayan deity/fairytale.
13. icarus said...
In the Crash of '29 I believe the Wall street giants - Rockefeller, Morgan, Baruch, Kennedy - all jumped from stocks into gold at the right time (I think a wee birdie told them when - it certainly wasn't the Mayan calendar) and their wealth took off during the Depression.
14. mrmickey said...
The UK government will make it illegal to own gold and you will be required to hand your little stash in to your nearest bank.
15. Marshalls said...
sold 2 rent 1 .... as a novice investor (im only 22) with the 'large ammount of savings in GBP' what are suggestions as ways to avoid the damage to the pound? Exchanging into another stable currency? Investing in futures markets such as buying gold futures? As a private investor do I need to use a Investor or can I do it myself? What do you guys do?.....Many thanks! Stu
16. Panda said...
What's this about higher states of conciousness? I just listen to Steve Hillage, Berio, and get Mrs Panda to...
17. titaniccaptain said...
I have a dilemma............Do I build a 120 grand extension on my house given todays news.....will it cost less to build in 1 year from now?
18. renting2 said...
If things get as bad as that, the best investment will be an allotment and some chickens, cows and pigs. 'Cos, however valuable gold is, you canna eat it. Get those old episodes of 'The Good Life' out of the loft.
19. denzil said...
All this HPC talk is getting boring now! This is the time of the spring bank and the housing market in imploding in dramatic style.
Can't we get back to taking the pish out of Gordon Brown and Labour?
Seriously though, HPC'ers have been vindicated so what does that mean for the bloggers on here? Find other endeavours or keep blogging until the market bottoms out, around 2011?
20. titaniccaptain said...
One thing to note is these Drops have come about in the spring bounce....what will it be like by the autumn?
21. theboltonfury said...
renting 2
yes but if things get that bad the chavs will steall all your chickens, pigs, veg and anything you have left. I have just had to put a lock on my oil tank (which should be interesting when I have to fill it up in a few months)
22. titaniccaptain said...
@ Denzil
Well im going to convert all you Godless peoples to the lord by 2011 even S2R1.........tin hat on
23. drewster said...
@denzil - You're right, we've been vindicated. I now spend more time on www.theoildrum.com, a similar blog/newsfeed with tighter editorial control and informed expert opinions from industry insiders. There are fewer ranters, ravers, and semi-religious nuts. However I should warn you that the doom-and-gloom stories on The Oil Drum make HPC look like a flower power hippy festival!
24. titaniccaptain said...
@ Drewster I take deep offence at being called a semi-religious nut I am a full and complete religious nut nothing semi about me lol
25. Titaniccaptain said...
@ Drewster your right about the oil situation that is scary stuff
26. george monsoon said...
I am buying tinned food.
27. mark wadsworth said...
George, I am hedging my bets and buying gold-plated tinned food. And a foil hat.
28. titaniccaptain said...
lol Mark Wadsworth dont forget to plant them in the garden. I wonder how people living in flats are going to keep cows and pigs........imagine Canary Wharf (Sounds like a Klingon bird) with cows and chickens and running around in a market place..............might add some character the place
29. paul said...
I am hedging my bets and buying gold food.
30. crash bandicoot said...
paul, gold is actually registered as a foodstuff under the number E175.
31. shipbuilder said...
Ironically, if S2R1 is right, now would probably be a good time to buy a house, preferably with a big garden......
32. growler said...
Converted Lurker: This article is what I meant about calling the end of the credit crisis too soon. As I said, the obvious cheap credit is gone, but there is a WHOLE lot more trouble ahead that will start this second phase. There is also a third phase when I think you will see a few folding under the balance sheet maulings to come.
33. bystander said...
Growler and S2R1 can I borrow your crystal balls? You both seem to know exactly what is about to happen. Its miraculous.
34. growler said...
@bystander: It's a bit like looking at the weather. Sure, if you look up the sun is shining, but you need to stick your back to the wind and raise your left arm to spot the low pressure looming. Then you've got to forget the sun tan and get real and go for cover. I've never met a trader that can solemnly say anything in public and believe it. Lets face it, it's not in their financial interest. So when banks start saying "the crunch is all but over", you don't need crystal balls to know its just plain balls.
35. bystander said...
Thanks growler, agreed.
36. sold 2 rent 1 said...
Burntgreenfinger
"I find the Mayan conscienceness ideas interesting. What do you actually mean by "co- create?" Is this purely spiritual or a means by which to trade and live a sustainable life away from the influence of those that would have us in servitude for the rest of our lives?"
My wife can handle all our cash in gold, and a depression that makes the Great Depression like a picnic, but co-creation is a difficult one to buy into.
Imagine the Earth is a giant brain. It has an East and a West side just like the brain has a left and right side.
See article to see how each side of the brain has different functions
http://www.news.com.au/dailytelegraph/story/0,22049,22535838-5012895,00.html
Now true geniuses can maximise both parts of the brain.
The Earth is not working very well as the East and West are not functioning together properly.
Co-creation, world mind, global enlightenment, or the singularity will basically mean 16bn years of evolution will be complete.
It will be a totally new existence for the planet.
37. sold 2 rent 1 said...
LEFT BRAIN FUNCTIONS
uses logic
detail oriented
facts rule
words and language
present and past
math and science
can comprehend
knowing
acknowledges
order/pattern perception
knows object name
reality based
forms strategies
practical
safe
RIGHT BRAIN FUNCTIONS
uses feeling
"big picture" oriented
imagination rules
symbols and images
present and future
philosophy & religion
can "get it" (i.e. meaning)
believes
appreciates
spatial perception
knows object function
fantasy based
presents possibilities
impetuous
risk taking
The shift in world power is from West to East.
The shift in consciousness is from LEFT to RIGHT brain functions
I am living proof. I am an IT techie, a real Mr logic "black and white" character.
Now I am displaying much more RIGHT brain functions.