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Everything posted by Methinkshe

  1. Whatever figure is published it will certainly qualify for the Booker Prize for Fiction.
  2. I guess 2.3% which will be described as a pre-Christmas blip and will be predicted to return to 1.9 or 2% in January.
  3. Do you know what is their major concern? Is it defaults or losss of profit due to credit revulsion. l
  4. Oh please, please, please can we have ID cards ASAP? I shall feel so much safer from terrorist threats and more secure from ID theft in the knowledge that the government knows all there is to know about me and will keep it safely stored on its secure database.
  5. Laying aside the pure BTL speculators, the sad thing is that many people who would have saved in a pension fund or anywhere else for that matter, ploughed into BTL - not the least because they saw what happened following Gordon Bean's raid on the Pension Funds. I also believe that most people, however financially illiterate, have some kind of sixth sense re when saving is not a good option, i.e. when hidden inflation is taxing their savings even though artificially low headline inflation rates protest otherwise.
  6. FTSE100 finished down 119.20. But the FTSE250 was down 273.20. Read in the newspaper recently that the 250 is being heavily shorted.
  7. Now down 89 ................. could be an interesting day.
  8. Now that IS interesting. Any way to work out how much the 4th quarter contributed to this figure? Might give a better indication of y o y falls for next year.
  9. ................the straw that broke the camel's back, eh? HIPS is a far lass substantial straw than the withdrawal of MIRAS but when the camel is already so-over-burdened..............who knows?
  10. Thanks for posting the above letter. Just about says it all as far as I am concerned. What a pity that such a balanced view doesn't get the same publicity as the scare stories. Perhaps it is because there are now so many VIs dependant on the climate change industry that it is all but impossible to stop the snowball from rolling and increasing in mass and velocity.
  11. Not so: Christopher Booker argued this pov YEARS before he wrote a book on the subject. Same as he defended the Metric Martyrs and has had a consistent anti-EU (that is, European UNION, not Common Market) view for years. It is sloppy practice to condemn the writer rather than properly challenge the content of his argument.
  12. It is always better where boundary disputes threaten to try to avert out and out war. Millions of pounds are wasted on lawyers fees taking boundary disputes to court. Moreover, it is a legal requirement when selling a property to list any disputes with neighbours and, believe me, they are very off-putting to a potential buyer. In a buyers' market, it is even more important to avoid disputes with neighbours. I would ALWAYS recommend judicious use of oil as opposed to the crash, bang, wallop of a lump hammer in these situations. However, if you prefer to advise use of a lump hammer...you're entitled to your opinion. Dipstick can make up her own mind.
  13. Was waiting to see if anyone would notice my deliberate play on the words virile and virulent! Glad there is someone who is alert. And yes, I intentionally posted virulent.....for reasons that you may care to deduce for yourself!
  14. Just read in the Sunday Telegraph today how woolly mammoths died out because of the encroachment of rainforests! Concern about climate change is all about scare tactics and seeking tacit permission for the long fingers of government to pickpoket your wallet. Don't believe a word of it. Green = wet-behind-the-ears. Read this: It at least makes an attempt to tell the truth which is more than can be said for the likes of Al Gore. Britain has never concocted a crazier plan Christopher Booker's Notebook by Christopher Booker Last Updated: 2:04am GMT 16/12/2007 Britain has never concocted a crazier plan Last week, amid the clouds of self-righteous humbug billowing out from Bali, Gordon Brown committed us to what I do not hesitate to call the maddest single decision ever made by British ministers. It was announced by John Hutton, Secretary of State for Business, Enterprise and Regulatory Reform, that we are to build 7,000 giant offshore wind turbines round Britain's coast by 2020, to meet our EU target on renewable energy. It will be the largest concentration of such industrial monsters in the world, enough, claimed Mr Hutton, to power every home in the country. No matter that Mr Hutton's officials warned him in August it was not conceivable that we could achieve even a much lower target. So keen was Mr Brown that Britain should "lead Europe on climate change" that Mr Hutton was told to ignore his officials - and the media reported his claims without questioning whether such a megalomaniac project was remotely feasible. For a start, no one mentioned costs. Mr Hutton spoke of his turbines, equivalent to one every half mile of coastline, as having a capacity of 33 gigawatts (GW), a hefty chunk of the 75GW of power we need at peak demand. But with the cost of giant offshore turbines, as tall as 850 feet, estimated at £1.6 billion per GW of capacity, this represents a bill of more than £50 billion - equivalent to the colossal sum earmarked last week by central banks to shore up the world banking system. But of course the point about offshore turbines is that, because wind blows intermittently, they only generate on average at a third or less of capacity. So Mr Hutton's 33GW figure comes down to 11GW. To generate this much power from "carbon-free" nuclear energy would require six or seven nuclear power stations and cost, at something under £20 billion, less than half as much as the turbines. This, however, is only the start of the madness. Because those turbines would generate on average only a third of the time, back-up would be needed to provide power for the remaining two thirds - say, another 12 nuclear power stations costing an additional £30 billion, putting the real cost of Mr Hutton's fantasy at nearer £80 billion - more than doubling our electricity bills. But we must then ask whether it would be technically possible to carry out the most ambitious engineering project ever proposed in Britain. As pointed out by energy expert Professor Ian Fells, this would require us to raise from the seabed two of these 2,000 ton structures every working day between 2008 and 2020. Denmark, with the world's largest offshore wind resource, has never managed to build more than two a week, and marine conditions allow such work for only a third of the year. It is not only on this count that Brown and Hutton's dream is unrealisable. The turbines' siting would mean that much of the national grid would have to be restructured, costing further billions. And because wind power is so unpredictable and needs other sources available at a moment's notice, it is generally accepted that any contribution above 10 per cent made by wind to a grid dangerously destabilises it. Two years ago, much of western Europe blacked out after a rush of German windpower into the continental grid forced other power stations to close down. The head of Austria's grid warned that the system was becoming so unbalanced by the "excessive" building of wind turbines that Europe would soon be "confronted with massive connector problems". Yet Mr Hutton's turbines would require a system capable of withstanding power swings of up to 33GW, when the only outside backup on which our island grid can depend is a 2GW connector to France (which derives 80 per cent of its electricity from nuclear power). Nothing better illustrates the fatuity of windpower than the fact that Denmark, with the highest concentration of turbines in the world, must export more than 80 per cent of its wind-generated electricity to Norway, to prevent its grid being swamped when the wind is blowing, while remaining heavily reliant the rest of the time on power from Sweden and Germany. The Danes, who decided in 2002 to build no more turbines, have learnt their lesson. We British have still to learn it. Every time we hear that over-used term "green" we should remember it has another meaning: someone who is naively foolish and dangerously gullible. An exemplary campaigner Like many, I was shocked to learn on Friday of the sudden death of Paul Smith of Safe Speed, often quoted in this column, the engineer whose tireless researches did more than anyone to expose the muddled thinking and fraudulent statistics used by the Government to promote its damaging obsession with speed cameras. As a committed road safety expert, Mr Smith was one of the most admirable single-issue campaigners of recent years. He will be much missed. A nasty outbreak of myopia at The Observer Last week The Observer gave more than half a page to a review of Scared to Death, the book I recently wrote with Dr Richard North. Since The Observer has been second only to the BBC in its reckless promotion of scares, from BSE to global warming, it was not surprising that the science editor, Robin McKie, should set out to rubbish our book in hyperbolic terms. But in his eagerness to do so, he came a fearful cropper. A well-tried technique for dismissing a book is to track down one or two small errors and hold them up to ridicule with the implication that, if the author can't get this right, nothing he says can be believed. Being a fanatical "warmist", Mr McKie ignored all the other scares analysed in our book and concentrated his fire on just four paragraphs in our 80-page account of global warming. He picked us up on the famous "hockey stick" graph, which showed global temperatures remaining constant for 1,000 years and curving up lately to record levels. Ignoring the seven pages describing in detail how this was exposed as one of the greatest confidence tricks in scientific history, his only concern was to identify our error in claiming that the graph was omitted from the latest report of the UN's Intergovernmental Panel on Climate Change. On the contrary, he triumphantly pointed out, it is included on page 467. He failed to mention that in 2001 the IPCC's report had produced the graph as Exhibit A, the ultimate proof of global warming, at the top of page one and five times later. More damagingly, Mr McKie alleges that three quotations we include from a Cambridge astrophysicist, Nigel Weiss, citing a Canadian newspaper, are wholly fictitious ("Weiss never said any such thing"). "It is hard to credit such sloppiness," he says. Yet if Mr McKie consults the New Scientist of September 16 2006 and a Royal Astronomical Society press release of August 5 1999, he will find Dr Weiss using precisely the words we quoted. I must apologise to readers who have had difficulty obtaining our book (which has otherwise been generously reviewed). After it immediately sold out, reprinting took some time but a second reprint is now available. 'Scared to Death: From BSE to Global Warming, Why Scares Are Costing Us the Earth' by Christopher Booker and Richard North (Continuum, £16.99), is available through Telegraph Books (£14.99 + £1.25 p&p) or call 0870 428 4115
  15. Like: its 'anging on the 'anger in the 'all, Ma.... nuff said.
  16. Goodness! All you virulent young bucks with antlers drawn advising revenge or satisfaction in one form or another! Take the advice of an old doe, past her prime, and keep on friendly terms with your neighbour (even superficially) and try to resolve your differences subtly, not via loud-hailers and law courts. Softly, softly, catchee monkey as the old saying goes.
  17. ...absolutely! Even the most obscure change in the most obscure country can have an effect on house prices. Just remember Chaos Theory...a butterfly flaps its wings......etc
  18. I'm more concerned by the "Little Emperor" syndrome - the result of China's one-child policy which caused female babies to be aborted and male babies to contribute to a population imbalance of male over female such that there are now several million Chinese men without the prospect of finding a wife. Obvious answer for any government is to channel this excess male testosterone into an army.......let's see what happens. Maybe all this excess testosterone will learn how to speak English and come and teach Maths to British children....I wish!
  19. Don't mind Bloo Loo - just a flash in the pan....(or should that be flush?) I had a neighbour who was an incredibly keen gardener whereas I was a lazy gardener. His religious pruning of a three ft wide dividing hedge meant that over ten years he'd probably grabbed a couple of feet off the boundary. My husband got out there with a chainsaw and pared back our side of the hedge to the trunks. Looked a little lopsided but he got the message! Fences, they're a different matter....but if you can find a way to return the medicine in a kind of naive, inexperienced, ooh, did I just grab a foot off your boundary type of way, it can be effective. Whatever you do, try to keep cordial relations - there's nothing worse than falling out with a neighbour - apart from anything else all neighbourly spats have to be reported next time you try to sell.
  20. All I can say is that way back in the early 70s when I was 19, there is no way I could have got £250 equivalent credit - and I worked in a bank. Maybe after 3 years of building a sound financial history, but not just by walking in off the street into a shop and filling in a form and being given an instant £250, The lenders bear as much, if not more, responsibility when such debts turn bad as the naive youngsters they extend credit to. Especially when the charge 30% APR and more. They're no better than loan sharks imo.
  21. Perhaps when the betting ring collapses, Physics and Chemistry graduates who have been seduced into the City by the lure of obscene salaries and bonuses, will return to jobs where their skills can be properly used producing real wealth.
  22. Loan, credit card and store card debt can be manageable when first accrued, but what about when a person loses his/her job and has to settle for, say, half the salary just to get back into the job market? I know someone in such a position where a small store card debt of about £250 ended up as over a £1000 a year later when it had been handed over to debt collectors. Okay, no-one in their right mind should use a storecard - the interest rates are usurious - but this was a 19 year old whose inexperience of life led her to do a rash thing - buy a wedding outfit using a store card without realising the potential consequences. She wasn't profligate - just naive. And that is what the issuers of store cards depend upon when they press credit on youngsters whose experience of life is so little it could be measured in teacup. Personally I rather hope that the issuers of credit to youngsters get well and truly stung - they deserve it.
  23. How typical - when regulatory rules that demand transparency are put in place to protect the likes of you and me, catch out bankers with their trousers around their ankles, the answer it not to force the bankers to pull their trousers up because their naughty bits are now on public view, but to change the rules and obscure the windows again so they can continuing *anking in privacy.
  24. If you want to know the inside story, just go to the following site and start reading. Singing Pig I've only just discovered the place (seen it referred two a couple of times on HPC so belatedly thought I'd take a look) and caught up with the term BMVer and what they do for a living. Seem like a nasty bunch of carpetbaggers to me. I'm just wondering what sort of fall in house prices would be required to wipe out these vultures.
  25. There is something wrong with a financial system that is no more than a giant casino where money is made by placing bets - not by providing a service - just by betting on market movements. Derivatives, hedge-funds, all these exotic financial instruments are relatively new. They are no more than gambling chips with the primary purpose of disguising the fact that fiat currency is based on nothing more than velocity - moving funny money around the system fast enough for it not to drop out of the air. Like a tornado that picks up and spins everything within its maw until its velocity decreases and it dumps the accumulated detritus of its travel.
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