Friday, Jan 09, 2009
A prelude to home loan aid
BBC: Mandelson considers car loan aid
The UK car industry does not need a bail-out but the government is considering help for manufacturers' financing arms.
Posted by gardeniadotnet @ 11:00 PM (774 views) Add Comment
10 Comments
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1. gardeniadotnet said...
The UK house industry does not need a bail-out but the government is considering help for homeowners' financing arms.
gardenidiot - tomorrow's headlines today.
2. crunchy said...
1. gardeniadotnet
Exactly..
Set up your own bank Brown & UK plc and start printing. Become first launder I mean lender.
It's all getting quite obvious now!
3. last_days_of_disco said...
"We are in active discussion with the government to ensure that motor finance companies, along with other non-bank lenders, have access to the relevant government liquidity and guarantee schemes, so that they can get the funds they need to serve their customers in the motor and other markets," Stephen Sklaroff, Director General of the Finance and Leasing Association, told the BBC."
I think you have got it the wrong way round. The Government has already bought dodgy housing backed debt from the banks under the special liquidity scheme. Which to be frank would eventually at least be worth something. What they are now proposing is trying to prop up an even more questionable assets, cars! Yikes that is really stupid. Just to bridge them over a difficult spot. Hmmm, I wonder how long this can go on for.
4. last_days_of_disco said...
"As well as easing access to finance, the SMMT is calling on the government to help companies to retain skilled employees and maintain investment in new technology and provide incentives to encourage the take up of new vehicles."
This article is just full of gems. It just shows the whole Ponzi nature of a consumption based economy. When you run out of new consumers the whole thing collapses in a heap. Its just not sustainable. Why do we need new cars, computers, software, houses, fashions (shoes, clothes, bags), etc all the time? We don't but by getting more and more people into the system it becomes a massive pyramid scam. We need to produce far less of this stuff and find productive employment in other areas for people. We just don't need all this stuff.
5. tyrellcorporation said...
And to add. We've heard for years too how all this rampant consumption is bad for the environment and not sustainable. The merest hint that consumption levels are dropping and the politicians try to open the credit floodgates again. A general global easing of growth rates will do wonders for the environment but oddly politicians suddenly aren't so keen.
6. beartil2010 said...
Good point Tyrell, I wholeheartedly agree, that's crossed my mind a few times. I was hoping the oil spike would point us to improving our oil consumption but I don't think it will make much difference...
7. Eternal Sceptic said...
Seems like a scheme to indirectly keep the sheople in never never land and buy votes for the general election. Unfortunately it is said that we get the government we deserve. I cannot for the life of me see what was done to deserve the present shower of fumbling idiots. The future is fast turning into a wasteland.
8. fun 4 now said...
well, better keep the gas guzzlers on the road,,,,err,,,, and raise the road tax to discourage people from buying them
9. shipbuilder said...
4. last_days_of_disco said...
"This article is just full of gems. It just shows the whole Ponzi nature of a consumption based economy. When you run out of new consumers the whole thing collapses in a heap. Its just not sustainable. Why do we need new cars, computers, software, houses, fashions (shoes, clothes, bags), etc all the time? We don't but by getting more and more people into the system it becomes a massive pyramid scam. We need to produce far less of this stuff and find productive employment in other areas for people. We just don't need all this stuff."
5. tyrellcorporation said...
"And to add. We've heard for years too how all this rampant consumption is bad for the environment and not sustainable. The merest hint that consumption levels are dropping and the politicians try to open the credit floodgates again. A general global easing of growth rates will do wonders for the environment but oddly politicians suddenly aren't so keen."
100% agree, if only everyone was seeing this.....the utter nonsense of the whole thing and the blatant lies, spin and doublethink to cover it up.
10. Macca said...
Surely the reason no one is buying is because almost everyone already has a new car? Spot the banger.