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Everything posted by Methinkshe

  1. 'scuse me, are you all stupid, or what? What do you think Eric Pickles on this Forum has been GOING ON AND ON ABOUT FOR MONTHS if not mortgage FRAUD? You say: wind-up, unbelievable.....why? You've been told. I've related my personal experience via my daughter who worked for a bank and then an independent mortgage broker and many others have tried to tell what is going on. Giving l00K loans to 18 yr olds on £14,000 p.a. and falsifying their income to make it appear like they earned - £40,000 - £50,000 p.a. was par for the course. Are you listening now? THIS IS NO EXCEPTION! It was being done on such a massive scale that the poor inexperienced twerp who posted his travails on this site THOUGHT IT WAS NORMAL PRACTICE! Good gracious - I've gone into Eric Pickles mode with my hand stuck on the CAP LOCK. I'm beginnning to understand why, though. The fact that ANYONE is SURPRISED by this laddie's post is beyond my comprehension. It's even more surprising that some are dismissing it as a wind-up and finding it unbelievable. Have you not yet realised THAT THIS IS WHAT HAS BEEN HAPPENING ACROSS THE BOARD FOR AT LEAST 5 YEARS! Gasp. (How do you keep up the caps, Eric? My blood pressure has gone through the roof doing this post!) Edited for typos
  2. Personally, I feel no resposibility whatsover for educating any sheep apart from my own little lambs - let sheep be sheep until they make a personal effort to be otherwise. My objection is to people judging by superficial means - whatever the product/person. First impressions count for nothing, and those who are too lazy or cowardly to look further deserve whatever lot or little comes to them. I speak as a mother of a disabled child who is all too familiar with the "first impression" type of dismissal that can be offered. Those who make the effort to take a second look are well rewarded, to the extent that they discover a little blessing all wrapped up in a largely dysfunctional body-wrap.
  3. I do have sympathy with your POV that in the long term everything will right itself and life will slowly return to normal. But this excludes the concept of catastrophe, sudden calamity, aeroplanes stalling/crashing, call it what you will. I do not think that it is sensible to exclude such Titanic-type events especially when the icebergs are amassing in such huge number. Maybe we can steer through them, but then again, maybe, on this occasion, the ship that is the global financial system will hit one of the proliferating icebergs. I just prefer to factor that looming possibility into my "how-best-to-care-for-my-family" equation. Which is why I appreciate the good news and the bad news, the excessive and the recessive views that one finds on this forum. It is up to me to make sense of ALL of them and then act according to my own understanding. I appreciate your cautious optimism that sees calmer seas ahead as much as I appreciate CGNAO's doom-laden warnings of imminent catastrophe. Long may the two extremes reside side by side, is my preference for this site.
  4. Ah, I don't remember ever having checked out that page. Can't be bothered to do it even now, to be honest. Sometimes the crappiest wrapping paper contains the best gift. And sometimes it's just a couple of mouldy cheese sandwiches. Those who are interested can unwrap and see for themselves and those who are not can go elsewhere. But anyone who relies on an outer-covering to form an opinion is really not woth pandering to, imho. edited for typo
  5. Are you not referring to those footnote thingummijigs that some people have? On the whole the headlines of posts are reasonably rational, albeit with a touch of hyperbole to attract readers' interest. I wouldn't be too worried about it, personally. Those who are put off by "irrational exuberance" - and wider experience suggests that it is not very many - can find another forum wherein to educate themselves. If you have any particular post headlines in mind, perhaps you could reference them. Edit: typo
  6. Should be interesting: let's see what the Law of Unintended Consequences vomits all over the place in response to this attempt to stick a finger in the throat of a major retch from the credit bubble. (Sorry about the extended metaphor - got carried away....!)
  7. I've been wondering..... How good are index-linked gilts when the indices are as well cooked as an overdone Christmas turkey?
  8. Well researched - thanks! So it wasn't so very long ago, then. David Cameron should be throwing this ammo at him every PMQ.
  9. I'm pretty sure I heard GB saying this during PMQ only a couple of weeks ago. Not sure how to check, though. Thought it would be interesting to track how often he continues to say it when the biggest bust for nearly a century is smacking him around the face like a dead octopus.
  10. While I think you could be correct re commodities in general, I have a suspicion that worldwide food shortages will ensure that food prices remain high for a good while to come. And this bio-fuel nonsense is just exacerbating the problem. Nuclear power is the only real alternative to fossil fuels. Moreover, droughts in the US and Australia have decimated recent wheat harvests which will have an effect for at least the next three years.
  11. Trouble is, Dr Bubb, I've been saying it for 10 years now but because Greenspan et al kept re-inflating the credit bubble, my dire predictions were dismissed as just doom-mongering. Now no-one believes me when I tell them that this time the game really IS over. I feel a bit like the boy who cried wolf, but how were we to know that politicians and bankers would go to such extraordinary and suicidal lengths to keep the bubble inflated?
  12. Excellent analysis - thanks for re-posting. This is pretty much in line with Dale Davison and Rees Mogg's prediction in their book Blood in the Streets, albeit their timing was out by a decade - even they didn't suspect that Greenspan would loosen credit to such dangerous levels. You say: "What might happen with all this money printing is that inflation will rise. Then the bondholders will simply raise their interest rates to compensate them for the inflation risk and property prices will take another large step down. I expect the central bankers to try it though, so we'll get an inflation, then a deflation – a combination which will almost certainly destroy more people's wealth than if we cut out the middleman and go straight for the deflation." Sadly, I agree with this analysis - first inflation THEN deflation, whereas cut to the inevitable deflation quick would be painful but better medicine in the long run. I don't suppose you care to risk a stab at how high inflation could go? Do you think we could see hyper-inflation before the inevitable deflation sets in? If so, savers are going to be horribly penalised and debtors will get a windfall.
  13. The following blog is well worth keeping up with. Check out the latest entry, Sunday Dec 9th. Sudden Debt
  14. I find The Daily Telegraph Business section is usually pretty good. I've noticed that articles from the DT are being linked on this site more and more frequently, too.
  15. Don't forget the CAP which with its usual crap timing has demanded that bio-fuels are grown on land now desperately required to grow food crops. Britain, locked into the system, is no longer able to dictate its own agricultural policy so as to remedy the food shortages that are becoming apparent. Christopher Booker's Notebook 3. Common Agricultural Policy A frequent misconception about the CAP is that it was set up to encourage farmers to grow more food. In fact its purpose was to manage food surpluses created by the post-war subsidy system. These were either stored or dumped on the outside world at knockdown prices, inflicting untold damage on many Third World countries. But in the past two years those beef, grain and butter mountains have all but vanished, as the world faces a meat, wheat and dairy shortage. The EU is left with its cupboard bare, and a system designed to cope with surpluses, but not shortages. It is now making the problem much worse with a policy whereby 10 per cent of transport fuel is to come from biofuels by 2020. To meet this target would require almost all the EU's farmland, just when world food prices are soaring (not least because so much land is already being given over to biofuels). Britain is no longer in a position to prepare for food shortages: all power to do so has been surrendered to Brussels, which has no policy on the matter.
  16. I've read several posts and articles that susbscribe to the view of an irresponsible media as good as initiating a HPC. I don't buy it. The media picks up on public sentiment and follows it, but I do not believe that the media can initiate a change in public sentiment. At the worst, media attention will highlight and possibly exacerbate, but I think it is incorrect to blame the media for causing a HPC or even a turn of sentiment. What does anyone else think?
  17. Oh, for goodness sake! Levying a tax is NOT the answer to every perceived ill. Those who think it is just open the door to unscrupulous governments and give an easy way to fleece the populace. Once people begin to think that taxing every ill is an acceptable solution to every problem, then it is all too easy for governments to invent/magnify the ill so as to levy/justify a tax and successive tax hikes on it. Don't you know that smoking causes every known disease common to mankind? Got an ingrowing toenail? Are you stressed and depressed? Do you smoke? Well, it's smoking that is the cause of your ingrowing toenail/depression. Want government research funds? Just dream up a research project to investigate how smoking causes women to have hairy legs, or men to grow man-boobs, and the grant will be winging its way to you in tomorrow's post. And once you have correlated some dubious statistics to "prove" your case, then another tax hike is justified. Climate change is the current big bogey-man that will allow governments on a global scale to impose taxes without so much as a bleat from the sheep. There'll soon be a tax on farting because it contributes to global warming - and I don't just mean cow-farts. There'll soon be a government dob-in phone-line to report your farting partner for contributing to global warming. Taxing is NOT the answer to anything never mind everything. Taxes should always be kept to the lowest possible level thus keeping financial clout in the hands of the individual and not rapacious governments. Tax is no more than Dane-geld - protection money extracted by bullies, self-righteously clothed in ballot papers water-marked with the word "rigged". Edited for gross grammatical errors! Get your brain in gear, woman!
  18. I correctly called the top of the market in 1989 but it was a lot more obvious then than this time around. Withdrawing MIRAS while giving 4 months notice was obviously going to suck in a huge number of sales followed by a massive slump. This time around I called the top in 2002 - I didn't think there was room for another reinflation - turns out there was. Called it again in 2005 and I reckon this will turn out to be correct. It is never easy to call the top but at least if one gets near to the top and prices fall below that near-top, one still wins. Better to call the top too early than too late.
  19. I remember discussing this in a thread back in August or September but I'm not very good at using the search function so can't find it.
  20. I've been trying to figure out a way that every person born in this country could be alotted a nominal share in any planning permission granted such that the added value of planning permission accrued to every English born person instead of being a windfall profit for the few, and often the corrupt, like those who bankroll political parties. Or is such an idea totally impractical? My old brain is too tired to think it through!
  21. Gold is NOT just another commodity - it has peculiar qualities that have been recognised from the dawn of history. It is malleable yet not degradable; it is extractable from dross; it has the capacity to reflect beauty bestowed by craftsmen, Because of these qualities and many others, gold has always retained a value in the psyche of mankind that I doubt will ever be displaced, and certainly not by fiat currencies that exist by virtue of no more than a whim and dubious promises.
  22. Meanwhile, where's your biometric ID card, you scum? How dare you even consider raising a hand without having registered for an iris scan, fingerprints, dna identification, NI number, Health Insurance number. How dare you even EXIST without our permission?
  23. Seconded: I truly value ALL the posts on this forum and I would hate to think that ANYone felt they should post less. I am always reminded of the old anecdote re whether there is or is not a God. Atheist to Christian: There is no such thing as a Creator God. Christian to atheist: How much do you think that you know of all that there is to be known? Atheist to Christian: Dunno, maybe 10%. Christian to atheist: Well, do you think that within that 90% that you do not know, a Creator God could exist? I am ALWAYS more than happy to hear what anyone and everyone has to say because what I know of all that there is to know is so minute that it wouldn't even register on a nano-scale. Please keep posting - all of you!
  24. If the state is so benevolent, why do successive governments when in office, skew constituency boundaries in their favour? Edit: typo
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