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House Price Crash Forum

Methinkshe

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Everything posted by Methinkshe

  1. We're just beginning to see exactly how "independent" the B o E is. Like, independent until it suits me (Gordon) otherwise.... I just hope Merv resigns on principle before he is pushed.
  2. I also remember. But there was a lot more trust and confidence in authority in those days than is now the case. We really believed that those who had authority wielded their power in the service of the population - and on the whole, they did. For instance, Ministers who cocked-up resigned. Not so nowadays.
  3. Cgnao's advice is sound, or so it seems to me. Some of us are more inclined to thank him for posting useful information than to berate him for his exuberance. And he isn't the only one who has forseen the current global financial crisis. Advice from Sir William Rees Mogg and James Dale Davidson in their book The Great Reckoning published 1992. "Place 5 - 10 per cent of your total assets in gold bullion and selected gold and silver coins.....................There is also more than a slight possibility that political and economic breakdown would force governments to revert to gold-backed money to reliquify a bankrupt world."
  4. There goes my hope that following the NR bank run the electorate might wake up and smell the $hit hitting the fan. What's it going to take to wake up this dozy electorate? Or perhaps it is because Cameron is such a sap that they don't see the Conservatives as a viable alternative. But surely, anything is better than Gordon.....isn't it?
  5. I agree. Only it's not so much idiocy as sheer hunger for power. Politicians know that deflation = loss of office and because most of them are no longer in politics to SERVE, but instead to line their own pockets and scam a gold-plated pension at the taxpayers' expense, they would prefer to risk hyperinflation and stay in power a little longer than do the honourable thing and give the country the dose of deflation it so badly needs.
  6. When the economy is strong it's because of the government's brilliant policies. When the economy is weak it is because of global problems or any other excuse they can come up with. Up until now Gordon has got away with this deceit. But maybe, just maybe, the electorate is beginning to wake up and will realise that a govenment that takes credit for a thriving economy must also bear the blame for a collapsing economy.
  7. We're going to see a lot of bankruptcies and a lot of evicted families. They will be the ones who will occupy these grotty new-build flats, rent paid by Housing Benefit.
  8. My childhood home in a south coast resort - detached, 5-beds, large garden - has recently been knocked down (nothing wrong with it - would have stood for 500 years, good solid 19C build - just greedy developers) and in its place have been built a mixture of twenty town town houses and 1 and 2 bed flats which are supposedly "affordable" - prices starting at £220,000. Apart from anything else, think of the traffic problems caused when 20 dwellings with cars replace a single dwelling. L.A planning departments have a lot to answer for, imo, and everyone knows that corruption is rife on planning committees.
  9. "And people wonder why some of us are so bitter about the generation of bungling fools that encouraged all this to happen." Unfortunately, I'm one of that generation but I abhor what they are doing, especially saddling our children with huge student loans when they got full grants to fund their own degrees. Talk about climbing the ladder and pulling it up after you!
  10. Excellent article - a must-read. Thanks for linking.
  11. And like any pyramid selling scam, it is totally dependant on The Greater Fool coming in at the bottom to shore up the whole edifice. Even if interest rates are kept low, the FTBer will be kept out of the market by the newfound risk-averse sentiments that have been forced on the banks. Lower interest rates cannot save the housing market.
  12. He was on Radio Five Live - Drive - talked a lot of sense, too.
  13. Now that's what I call reliable information (and I have no reason to believe you are anything other than a bona fide sub-editor as you describe yourself) unlike the rubbish we are fed by so-called experts. Thanks for sharing.
  14. The alternative view is that had Darling not done anything, there could have been some contagion - B & B and A & L looked for a little while as though they could be hit by a similar run as NR.
  15. And that will make it impossible for FTBs and BTLs to enter the market on those terms. And a market that is starved of new entrants has to fall - right?
  16. Exactly - now the debt parcels have been found to contain a lot less than AAA contents, who in their right mind would buy them? The game is over because what has become known cannot be unknown.
  17. Short term, it probably is the right thing to do. But I can't help thinking that it is just a postponement of the inevitable and, worse still, that when the inevitable does happen, these short-term adjustments will have added to the long-term fall-out. The day of reckoning cannot be postponed indefinitely - debt cannot compound faster than income for ever - so why not just bite the bullet and take the deflationary medicine that is long overdue? It has to be because there is a General Election in the offing.
  18. Am I correct in believing that mortgage repayments are not included in CPI? If so, how come mortgage exit fees are?
  19. Were they hec! They were all set to jump on Gordon's boom boom boom no bust bandwagon and redistribute according to their own pet preferences.
  20. Hope you are preparing for a tenfold increase in site traffic because that's what you're about to get - and that's short term. Think 1000 fold and then more.
  21. Don't have enough savings to make gold a worthwhile proposition at the moment, just rainy-day savings which I have just withdrawn from Nationwide and converted to Canadian dollars. Don't think I got a very good rate but at least I feel I'm doing something positive and who knows, if I wait six months or so I may even make a bob or two. Worth a punt, anyway.
  22. Thanks for the info. As a matter of interest, has Canada not suffered a similar HPI and sub-prime problem? Why is their currency considered less prone to devaluation?
  23. I seem to remember cgnao recommending Canadian $ as an option to sterling. Does that still hold true or is the euro a better bet short term?
  24. Traditionally, when a speculative bubble bursts, house prices give up all their inflationary gains since the previous downturn - can't remember where I read that though. It's one of those snippets of information that lodges in one's mind ready to be retrieved at an appropriate time.
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