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House Price Crash Forum


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Everything posted by _w_

  1. http://vimeo.com/38500767
  2. Regardless of its subject, validity or supporting arguments the well bred gentleman's reaction to any non MSM propagated theory must be as follows: First, attempt to censor the discussion by labelling the idea as a conspiracy theory (old tricks are the best tricks): And then, close your eyes:
  3. The buyers will receive the gift of an interest rate lower than they would have had to pay otherwise. The banks will receive the gift of being able to lend at a rate lower than market rates (and hence increase their business) while also pocketing the difference between what they will charge and rates of similar government guarateed bonds such as gilts. The overall increase in credit in the system backed by the public purse will also help in improving banks' crippled balance sheets. This is, I suspect, priority number one. Banks have been pushing hard and for a long time to get a UK's very own Fannie Mae and Freddy Mac. It is now done. We can expect subsequent governments to slowly but surely extend the scope of this new agency leading to more debts in society and an ever increasing risk to the government balance sheet, all to the benefit of bankers. Left wing or right wing, the UK's powers that be are all steadily pushing us towards inescapable debt servitude.
  4. http://www.news.com.au/money/property/cut-price-homes-on-the-market-in-australia-as-receivers-order-fire-sales/story-e6frfmd0-1226252424356 Funnily enough, only two days ago Bloomberg was chanting the benefits of Australian Reits with returns exceeding 15%... Looks like some people are trying to bail out.
  5. Banking gives some individuals (corporations) the priviledge to create the commodity of exchange at virtually no cost and charge others interest to use it. The fact that this state of affairs still exists today demonstrates that it is a still fully operational scam. If it wasn't a scam, a knowledgeable population would have demanded the end of such exhorbitant priviledges a very long time ago. Coming back to reality. There is no end to how far people (including smart ones) will go so they can live with themselves whatever job they do. The extent of the denials and tortuous lies for the sake of their ego / self respect will never cease to amaze me. Having said that, I agree it would not be wise to bet on the end of this particular scam. Too many powerful and influential vested interests like riding it.
  6. Spot on. For those interested in vitamins and more legal shenanigans coming from the UN, M has something to tell you: http://video.google.com/videoplay?docid=451097355502728465
  7. Good piece, it's got everything: And the inevitable...
  8. I'm in that camp. How can you not seek the advice of professionals first?
  9. Fair enough, but what should I do? The cat's getting old and I dread the next time it will be ill. Self diagnose / medication is not something I am keen on but I wouldn't know who to turn to. After this experience I expect a majority of vets to act similarly (those two were warmly recommended). Those 10X income home + BTL mortages have to be repaid, as are the CCs maxed on purchases of Prada tat and the 4X4s on HP. If I am correct in my understanding of their motivations then I would expect most of them to behave in this way.
  10. I've recently had a similar problem with vets. My cat started being sick rejecting food with increasing frequency. The first vet came up with a thyroid problem (some hyperactivity, the cat actually sleeps all day) that required permanent drug treatment. As the problem seemed to be linked to digestion and the treatment solved nothing (the cat became semi comatose, stopped cleaning itself, and was still sick) we went to another 'recommended' vet. He first diagnosed cancer and recommended chemotherapy but the cat was miraculously cured when we said we would rather put it down. He then came up with the same thyroid problem as the first vet and so we continued with the original treatment despite our doubts and the cat becoming a little bit more poorly every month. After two years of the cat not recovering and many thousands of pounds we decided to do some googling. As things were going, we thought the cat would be dead within a couple of months if we didn't do something. It turned out our cat had trouble handling hairballs as it got older. The treatment: a diet of 'indoor cat' food available in any super market. The cat stopped being sick and has been recovering ever since (about three months). One of the things that made us look for an alternative solution towards the end was the vet's insistence that we should bring the cat for tests every three weeks or he would refuse to give us more pills. Predatory behaviour is not limited to bankers.
  11. The idea is that they are making crap that we cannot currently make as it would not be competitive if we were paying them minimum wage When was the last time you saw a 'made in Britain' sticker on a cup or a plastic dinosaur? How long has it been since we had ANY sort of textile industry in this country? how much coal could we export if it was being dug up for free? We have no fcking industry left ! What difference would it make if they were working at a car plant, since we cannot compete in these areas any more. We bloody could if the wage bill only consisted of good supervisors. Besides there is a dignity to working, putting something back, learning new skills, etc. Lefty governments just pussy around when we should be looking at a full blown workfare for all You've just been had and you didn't even notice it, You want some good old 'conservative' policies applied to the unemployed, but for this initiative you'd rather your job was protected by government policy: let the unemployed do jobs but stick to those I don't do. That good old conservative ideology goes out the door when VIs are at stake. I don't disagree with your original suggestion BTW although the consequences require more thinking IMO. Personally I'd get them to do public service jobs, if a few public sector employees lose their jobs as a result it would certainly be a lesser evil and probably for the greater good. I just thought I'd point how shallow those ideologically based arguments tend to be.
  12. Here's something that might help put things in perspective. There is a chasm between the bankrupt bank managed hysteria (they might yet succeed) and the real situation WRT european sovereign finances. http://www.zerohedge...t-it-means-gold
  13. The other potentially more important question one might ask is: do banks need us?
  14. One more thing so there is no doubt. Major and Lamont as well as Thatcher and Lawson, printed and spent like maniacs and while fixing our currency to the Deutsche Mark. There should be no doubt in anyone's mind that in this, they were in the same league as the Papawhotstis and Berlusconis of this world. If anything we could see them as leaders, precursors, of a general move of politics towards crookedness and incompetence. Twerp is too generous an attribute.
  15. Just for the record, in case the ideologically blind and stupid manage to present Lamont and his cohort as competent men. The Lawson economic 'miracle' and subsequent tory policy was to print lots and lots of pounds and appear to be masterful economic managers. Then one day people realised there were many more devalued pounds than deutsche marks, something the government at the time was too thick to see coming which is a bit of a laugh since they did it all on their own. The subsequent humiliating Greece like ejection from the ERM then came as a total surprise to the idelogically blind and stupid of the time (they haven't changed one bit) and was blamed on speculators such as Soros. This was to avoid Major and Lamont, as well as their galactically incompent predecessors, the phenomenal embarassement of being recorded in the history books as just as bad as Blair and Co. ten years later. They did it though, quite an achievement.
  16. In posh and sunny Fulham I have noticed an increasing number of luxury cars with one missing wheel cover. In 'normal' times the debt-easy drivers of such cars would rather be dead than appear to be in such a state of depravation.
  17. If it's not the mayor now it will be an MP later. It could be via a a massive tax hike on properties with rents above a certain value per square foot. Eventually, as landlords refuse to lower their rents as real wages fall, the pressure will become enormous. Money printing leading to price controls is as old as the world. I'd say it is probably inevitable, the only question is how long it will take. It will all be very unfair as landlords have nothing to do with the money printing but they will be blamed anyway. It could not happen to a better bunch of people.
  18. It has been done many times before. It was very workable. Nothing easier, you just need to pass a law and the BTLers are toast.
  19. I rent. The balance of power between landlords and tenants is overwhelingly in favour of landlords, some modicum of security of tenure would be just about civilised. It's not just about price. I am assuming there would be an element of coercion in such a scheme that whilst unfair, would fill me with delight. There are some types of exploitation I can't stand. Someone wants to be elected every so often. There are more tenants than landlords.
  20. It's bound to be popular. Chances are, at some stage it will happen and BTLers will be wiped out. I can't wait.
  21. Internsting question. The answer I think: because there were attractive alternatives.
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