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House Price Crash Forum


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Posts posted by RDW

  1. http://www.independent.co.uk/news/uk/politics/osbornes-first-budget-its-wrong-wrong-wrong-2011501.html

    Joseph Stiglitz, the Nobel prizewinner who predicted the global crisis, delivers his verdict on the Chancellor's first Budget and tells Paul Vallely it will take the UK deeper into recession and hit millions – the poorest – badly

    Check out this comment.

    In threads such as these, here and over at the Guardian, I detect the depression stage of grieving over the death of the Great Socialist Experiment.

    After the collapse of Socialism, Brown & co. thought they'd try one last attempt at resuscitation by applying Steiglitz-style defibrillator policies on a permanent basis. But the public called it off.

    Brown and his fellow-travellers also thought that the banking sector was just another 'free-market', which could be regulated by a typical OFBANK in the form of the FSA. He was warned, but as a Socialist (aka a permanent late-adolescent with a degree to seal his condition) he knew better.

    After this colossal failure, the fool must now realise that banking is not a 'market' but in fact it is a permanent ongoing infrastructural project, with the contract to provide good money being let to a Prime Contractor in the form of the Bank of England, whose job is to keep the hierarchy of subcontractors in line. It does this by close surveillance and behind-the-scenes cooperative action among the various levels of subcontrator down the line, before things get public.

    Now the new government has quickly moved to reinstate the natural structure of the banking hierarchy, we should see an end to the ludicrous debauchery of the banking system that has brought the UKstate (whatever that really is any more) to this crisis of personal and corporate debt, which is a species of public moral degeneration, and the destruction of the state itself.

    Of course the useful idiots such as the academic economists, sociologists, & co., have gone along with the Brown corruption because they secretly want to see the pure Marxist Dream come true at last, and have been actively helping in the withering of the state .

    And we also see the depression and anger phase of the post-socialist grieving process in expressions of millenial doomings such as Peak Oil, Global Warming etc.This abject fatalism denies human creative capacity, and is misanthropic.

    For example it is only 100 years since motor transport became feasible, and our current problems with this sytsem are minor side-effects of an amazingly beneficial product of the human creativity. Given a clear incentive, it will take the application of further collective human ingenuity to clear up these side-effects.

    As for the millenial 'Peak Oil' lamentation, I would commend mourners of Socialism (RIP) to follow the progress of Shale-gas technology, when they have finished their ritual weeping/wailing/gnashing/garment-rending, etc.

    And BTW, for any ex-socialist probably atheist adolescent who still doesn't understand the basics of banking ... look up the etymology of the word 'Credit',and have a bit of a think.

  2. There were still Arts jobs advetised online today in Wales paing circa £50 which, as a friend who used to work in that organisation pointed out to me, was closed to 75K or 100K by the time you took into account all the trips, all the expenses.

    Meanwhile there was a Head of IT Communications for a Council paying 30K tops.

    They've still got to give the drop out waster children of the minister's jobs after they've pot smoked themselves through Newport Art college.

  3. http://www.thisislondon.co.uk/standard/article-23848414-taxpayer-years--a-brilliant-way-to-explain-the-true-cost-of-government.do

    One of the best innovations in George Osborne's Budget was a striking new way of looking at the bewildering public spending figures.

    Billions, millions, trillions — what are they, anyway? Who really comprehends the telephone number digits when ministers write cheque for their pet projects?

    But in yesterday's speech the Chancellor had a brilliant new way of looking at the real cost of public money. It came in the passage revealing that a single London family is claiming £104,000 a year in housing benefit.

    “The cost of that single award,” he said, “is equivalent to the total income tax and national insurance paid by 16 working people on median incomes”.

    Consider that: no fewer than 16 hard-working men and women are toiling away full time to pay for one household of non-workers.

    Mr Osborne is on to something. Median earnings stand at £26,000, meaning PAYE and NI bills of £6,200. You could call £6,200 a “taxpayer year” because it is the tax contribution from a full year's effort.

    Suddenly all those adverts in the Guardian jobs pages take on their true meaning. The two “sustainability advisers — £28,626” for Bristol council today will cost more than eight taxpayer years to fund.

  4. I would agree that many will be dependent on this money, they shouldn't but our high cost tax economy has made parents dependent on state handouts.

    Fixed for you

    I'm on over £30k and my wife brings home about £5k, we get about £45 per month child tax credit, 1 child.

    Why tax it off me, put it through the hands of a load of beuraucrats and their forms, to just give it me back, why not just alter mt tax code ?

  5. He just means that if you have £10,000 in the bank, then the amount of mortgage you could get would be surprisingly affected by the percentage deposit required.

    If you only need 5% deposit, then you can borrow a further £195k to make £200k of which your £10k is a 5% deposit.

    But if you need 25% deposit, then you can only borrow a further £30k to make £40k of which your £10k is a 25% deposit.

    So if implemented, 25% deposits across the board would imply something in the region of a 75% crash.

    Personally, I think they would be unlikely to implement such a policy at the moment.

    Thanks, so check out the effect of gearing on house prices.

    Maybe the 75% crash in the above scenario is correct in a low inflation / [wage] deflationary environment.

    Wow !

  6. This is one subject that I have absolutley zero interest in. What a bunch of has beens and liars. Where is the fresh new blood to rejuvanate the Labour party.

    2 points

    I did not put newsnight on as I thought the establishment would still be getting their moneys worth out of the Bloody Sunday antics.

    Have the beeb got a death wish, they are still acting like the nu labour media wing.

  7. Disaclaimer, I am Welsh, but now live in England because I am fed up with what th welsh were doing to wales.

    You welsh and scott's need to stop seeing yourselves as oppressed victims who are owed a living by the other side of the boarder, while chasing your (boardering on fanatical) nationalist agenda's.

    Untill you are forced to face reality, with the loss of your pocket money, will you actually get off your backsides and do something entrprenurial.

    It saddens me as a drive round wales, visiting both my parents and my out laws, to see what I call the tafia actively making conditions worse for people who would like to relocate and set up businesses there.

    I can not really comment on Scotland, but Wales, at least try and make yourself appear like a place that I would want to set up business, rather than coming accross as a coccky adolescent lay about with not much going for them.

  8. They'll need to pull out of Europe first.

    Now that the pensions have been promised, withdrawing them would be a breach of European law.

    Welcome to the law of unintended consequences.

    Seeing that the Lisbon treaty was signed by someone who was clearly not, let's be polite, 'with the capacity to enter into contracts' that agreement should be null and void then.

  9. The way I few the majority of the public sector is like a bunch of ravers who roll up in the field next door to your house, come in steel all your boose, hook up to your electricity and then start partying for their own personal enjoyment while giving you sleepless nights.

    Now, I have know objection to raving, far from it, but, public sector, if you want to have a party, bring your own beer, supply your own electricity and conduct your activities in a manner where you are not going to give law abiding citizen’s the hump.

    It’s high time this pi$$ take stopped.

  10. Here's an interesting comment

    Let's run this argument in reverse: if public sector cuts will depress house prices, then a decade of runaway public sector spending on salaries will....?

    For years we've blamed the "house price bubble" on a combination of irresponsible borrowing, second home owners, bankers and landlords. Now a plausible alternative explanation is emerging, particularly in those areas such as the South West where house prices seem so desperately out of tune with local salaries:

    In the far south-west of England, also unusually dense with public sector staff...the relatively high pay of these buyers, when compared with other jobs in the local area, has meant they've been able to purchase larger homes

    I've often wondered why Gordon's spending spree didn't result in runaway inflation. The answer is that to a large extent it did--in the housing market. The rest of the money leaked out on imports and growing the Chinese economy so we were able to have a low-inflation economy but with runaway house prices. Truly we never had it so good..

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