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House Price Crash Forum


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About hallander3

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  1. What the former senator is NOT telling us is that Social Security and Medicare have been "pay as you go" and have run surpluses since the day of their creation. They were never meant to be "on budget" , but to be self sustaining from the taxes drawn from workers paychecks for SS and Medicare and from the Trust fund interest payments. So why does the US government now claim these programs are a burden? Well, because all the trust fund money was stolen and replaced with US treasury debt. That debt is now due for paying out as benefits, but there is nothing there but US treasuries. The government must pay back those treasuries as SS and Medicare cash them in. Thus government must come up with the cash. Lets be clear, all the money was stolen, these programs are hundreds of billions in surplus, but the surplus paid for Vietnam war and the cold war build up, tax cuts for the rich, Iraq war etc. etc. To claim that these programs are a burden is a LIE. The burden has been placed on the tax payer who paid in big SS and medicare taxes their whole working lives, only to find the money looted. It's a crime, but no one will be punished except the little people who paid the taxes to fund these programs and did fund them including huge surpluses. Which are now nothing but US treasury debt.
  2. Lots of important points have been touched on. The Args went ahead with the invasion knowing that the Royal Navy had lost it's last large deck Carrier capable of operating high performance jet fighters. Remember the Harrier was quite new at the time. The USA did offer direct military support, only by the back door. The most important was delivery of the latest version of the Sidewinder Air to Air Missile. Without this one weapon, the Harriers would have enjoyed no great advantage in Air to Air combat. This was the Game Changer for the Royal Navy. The Exocet sank the Sheffield early on, and this was due to a poor performance by the Captain and his Ops room. The Other nearest radar picket detected the Super Etendard's search radar and acted properly to defend herself. Air launched Exocet was fired 5 times [i believe] with 3 hits on two ships, both lost. One ground launched exocet hit Glamorgan but she was only damaged. The fact is, without a large decked carrier and air born early warning radar any attempt to retake a captured Falklands would be very hard. As long as enough high performance jet fighters sit on Stanley Airfield and good anti aircraft missiles systems defend the airfield, the Args could never pull off an invasion. I think the Args military forces are hard up. They could maybe prevent oil drilling . But a British garrison equipped with adequate air defenses and fighter aircraft would prevent invasion. The Oil must really rankle the Args. Imagine if they had held the islands and could now explore for oil! The UK is heading for very tough times, a big oil find down there could be a major reprieve for the UK . It IS worth fighting for should the Args decided to throw the dice one more time. Look at the USA, they invade for oil at will and tell lies as they do it. In another Falklands war the UK would be within their every right, and I don;t blame the Islanders for not wanting anything to do with the Args. Remember the "Dirty War". Murder, kidnap, torture all done by the Arg military. They aren't the "good guys", not by a long road.
  3. What jobs are New Zealanders working in order to afford these overpriced homes? I have not been to NZ for years, but one thing I noticed long ago was the great difference in the homes between Australia and New Zealand. Melbourne homes on average would have been luxury homes in Auckland. An average NZ home at that time would have been about like a poor shack in a Bush town in OZ. Maybe NZ has caught up in the wealth gap? Like I said, it's been many years since I've been down under. NZ standard of living struck me as at about a 50% level compared to OZ. How do the New Zealanders get the money to feed the housing prices there. Have they developed a high tech economy or something they didn't have 20 years back?
  4. Green Belts? I'de hardly classify that as one of Britain's biggest problems And by the way, when they are gone and Britain is one super city. Well I'll leave that to anyone wanting to watch the movie "Soylent Green" . I agree with point two. There are whole segments of people who feel very content as leeches. And yes again, there are others world wide who know a free ride when they see one on tv. Free education, free health care, free housing, cash allowances and lots of do gooders bleeding their hearts for you. They would never get that back home. So why not slip in and settle down for the duration. I will say the idea that financial services could be a real long term economy for Britain. The "City" looked good for awhile, but it is all illusion. You create no wealth by financial engineering. Also, way too many upper class Brits look down their noses at productive people, in business, trade and everyday workers who make society function. The class system creates just the blood sucking leeches who sponge off of the dole. Heck, the upper classes do nothing, why should I. Any society that degrades work like this country is doomed. Work is to be admired, soiled hands are not a badge of shame.
  5. I'm not one to take the p**s on anyone for their opinions. We all have them and I can handle those I find hard to agree with. That said, I've had 30 years experience over in the USA. If you think dental care is cheap and professional then I wonder how much experience you have had. It is expensive and half the greedy clowns in pratice can't get it right. Those who have dental insurance may be well off, but many don't and costs are out of control. Sure you can go to any dentist you please. All prices are the same and all dentists push for maximum cost procedures. You want a second opinion, you won't be able to find one. They all belong to dental associations that set prices and maintain a script for how patients are treated so that NO dentist will offer any alternatives but the most expensive and invasive. I've been private pay in the UK, and that is also expensive, about equal to the aveerage USA costs. NHS is a bargain, most people need dental care and NHS may not be the best, but it is good enough for most services. So what if it can be a bot of a trouble at times. The cost hasn't bankrupted anyone I know. I wish the USA had a NHS.
  6. It's nice to see somebody point out the obvious! Where and when has this perfect capitalism that is hardwired into our brains ever existed? Once humans adopted a more settled life style, markets expanded and worked best with free trade. Now we all know that the markets never ever existed in a vacuum. The members of society who sought control over others soon hijacked the market and made it work for their own interests. History is one long saga of this. There has never been a free market without attempts to hijack it and make it work for certain members of society. Neo-Liberals are not capitalists, they are State/Military capitalists. Maybe Fascist is a better term. The US/UK and other Neo-Liberals use capitalism and state security/military power to favor themselves, to make society work to feather their nests. In short, to transfer wealth to themselves and to spread US/UK military domination worldwide. In their own writings they claim to be chosen people , superior people, born leaders. They are simply modern day greedy fascists. If you blame bank failures and bailouts on socialism, then you are a bit off the mark. You wouldn't know state fascism if you tripped over it. Name the date when Britain practiced capitalism that wasn't a rigged game. The answer is never, that's when! Neo-Liberals are simply modern day nazis. Police state capitalists. Call them what you will, but they aren't socialists. As for hardwired capitalism, you ignore 95% of human existence. When greed in the social unit was a death sentence. That hardwired stuff is neo-liberal clap-trap.
  7. Britain becomes insolvent for good when North Sea Oil runs a little lower. It's been the crutch that has held a one legged man up for decades. Kick that out from under a nation of financiers and property junkies and he is down for the count!
  8. Pakistan is heading for failed state status. There is a world of trouble there! The US can't do much inside Pakistan, they simply do not have the Army troops to do anything but make raids. The US will have to back it's few friends in the Pakistan military and pray god they can do the fighting. When you are bogged down in two countries, moving into Pakistan and engaging in ground fighting and occupation is simply impossible for the US. The Empire has met it's limits. All they can do is build a very long Hadrian's Wall and hire locals to man it.
  9. Without the PPT in action Dow 6,500 With the PPT in action Dow 7,000 Just a guess really, but the US government is now scared big time. They must prevent stock market drops from fueling negative sentiment. They'll send in the PPT. If that fails, they do like Russia and shut the markets. If that fails?
  10. Sounds like it confirms most of the financial information I am picking up. Simply put, nobody knows where this baby is going. We know it's bad, damn bad. Here is my measure; If things are to get better then there has to be a catalyst for improvement. When someone can show me the up side, where the economic growth will be, then I will be less pessimistic. The only positive I hear is that rising unemployment is a lagging indicator and usually indicates a bottoming out of the economy. Sure, in a normal recession Yes! But this is a giant financial crisis along with a housing bust along with a recession world wide. I would keep in cash and stay the heck away from stocks. I hold some government bonds. Even the safe haven of US treasury notes is enough to make a person worry when there is totally out of control government debt. Nice to hear what the people actually on the trading desks are thinking. I like to read more of that kind of information here. A big +1 for the original comment
  11. Indeed. Why do some find it so hard to accept that the UK is now a friggen joke economy?? The miracle economy was just that, a fookn miracle it lasted so long
  12. Indeed. The root of the problem. Consumption is not wealth creation. Borrowing is not wealth creation. Buying and selling houses is not wealth creation. Even the boys and girls down in "The City" do not create wealth, inspite of what they may think. Until the UK gets into the business of production, there will be no recovery. Not to make them out as being anything special, but nevertheless, the old coal miners Thatcher threw out of work did produce wealth!
  13. Obviously this topic is HOT! I've not had time to wade through all the posts, but got the first dozen or so read. Well, I've just returned from the supermarket. I was looking over the drinks section and overheard two delivery people talking. They both were working for soft drink companies stocking shelves with their respective products. Funny this thread, as these two blokes were discussing their university degrees. Driving soft drink delivery trucks, stocking shelves and talking over their various degrees . The one did not sound happy, he pointed out his cases of bottles and said "This is what I have to show for years of study". The 50% in Uni model of education is a sick joke on the poor kids.
  14. Most likely correct! You see Biden already ley slip in an interview that he has discovered that the economic situation is Much Worse than he had expected. I gather he came to this through looking at the US government inside accounting books. You know, where the real figures are kept out of sight of average Americans. The panic spending of trillions by Bush seem to point at things being a real disaster.
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