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House Price Crash Forum


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Everything posted by Thucydides

  1. You all presume Downing Street is faithfully transferring all the emails on to the E-Petition site, but after they disabled viewers comments on the You Tube video of Brown's speech, I wouldn't put it past them. For all we know 500,000 have written in and petitioned him to resign.
  2. Bad isn't it. I'm starting to get windy about the whole thing now. I thikn I preferred unaffordable housing. Actually, no.
  3. You are right about having only one type of party to vote for, but some of the illiberal surveillance measures that came out of government could only come out of socialists. that they were all Scottish just livens things up. Also, US/toast/Yugoslavia - I think this could happen if they're not careful with the current mess.
  4. A few points spring to mind. First, Scottish Labour did this to Britain, not English Conservatives. Second, British people cannot take their skills to the USA because the USA does not have a points-based immigration system. The only people that can get into the USA are illegal immigrants from Mexico, refugees from Liberia, those Europeans who get job transfers, those with very unique and unusual skills, or most common, those who marry fat women from Omaha who they meet online. Third, people in glass houses shouldn't throw stones. I would put money on England still standing in one form or another long after the US has broken up into several pieces, which I speculate is closer than many would be comfortable with. Fourth, China, not the US, will be as close to global hegemon as is possible by 2100. Start learing Mandarin.
  5. There may be trouble ahead. But while there's music and moonlight and love and romance. Let's face the music and dance ...
  6. House prices down 40% from 2007 peak right across the country. Before the excitement begins - they wil stay depressed like that for years.
  7. "Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system. "Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund. "Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal. "Mr Dvorkevich said it was "logical" that the new currency should include the rouble and the yuan, adding that "we could also think about more effective use of gold in this system". "Russia is a major gold producer with large untapped reserves of ore so it has a clear interest in promoting the idea. The Kremlin has already instructed the central bank of gradually raise the gold share of foreign reserves to 10pc. "China's government has floated a variant of this idea, suggesting a currency based on 30 commodities along the lines of the "Bancor" proposed by John Maynard Keynes in 1944." http://www.telegraph.co.uk/finance/finance...ial-crisis.html
  8. I'll say. Australia has much of the world's most overvalued property stock right now that Ponzi Brown's HPI game is over in the UK. After Sydney, Adelaide is now the least affordable city in Australia in terms of wage/house price ratio. When this happens you know it is all about groundless HPI because there just aren't the jobs in Adelaide to support such a ridiculous ratio. Its direct and exact equivalent in Britain was when houses in West Wales started hitting the £300,000 mark - and we all know what happened there. The bear sharpened his claws and savaged those prices down to £175,000 and still dropping. Claiming that Australian house prices will lose 30% from peak to trough is a conservative estimate, in my view, particularly in low employment states like SA and TAS.
  9. Well, you know, feminism never really had anything to do with women. Women's rights were just used as a cover for getting women into the market so they could be taxed. Their cause was quickly picked up in the Western academies by marxists who used their plight to further their own goals.
  10. China is doing well, but the problem is that China already cannot sustain its population. With the "essential second child" this problem will become critical.
  11. Rudd will get his fingers burnt in China.
  12. Two years ago sorry - Act of Union was 1707! What can we do? I know I will vote to get them out next June, but I think the damage that ha sbeen done will take years to repair. Britain needs to start thinking about what it can do to earn money in the future, for one thing. No more oil and London as a financial centre is now a joke because of places like the London AIG office, etc.
  13. This is one of those things that people once said would be catastrophic if it happened, but that it would never happen. Now it has happened, and we wait to see what happens at the next auction. I can't help feeling some gentlemen from the IMF will be flying into London shortly to bail out the second Labour government in thirty three years. Quality.
  14. I expected falling rents as soon as I realised the size of the number of people who couldn't sell their houses and decided to let them out instead. The over-supply of rentals was always going to drive down prices. I imagine about now a lot of those people wish they had sold their houses for what even today must seem like a huge amount of money.
  15. Treasury fails to sell Government gilts for the first time in more than a decade raising doubts over Britain's borrowing ability - "Fears are growing on the financial markets that Britain may not be able to repay the billions of pounds in debt it is amassing to rescue banks and revive the economy. The Government admitted yesterday that, for the first time since 1995, investors had been unwilling to buy the full complement of its so-called gilt-edged bonds at one of its official auctions." http://www.telegraph.co.uk/finance/finance...ment-gilts.html
  16. James Gordon Brown MA PhD heads a Labour Government that has done more to destroy British national identity than any other government in British history. In the interests of mindless socialist internationalist dogma, his party broke up the United Kingdom into separate political constituencies, and this alone didmore to deconstruct British identity than anything in the history of Britain. Just three years ago Britain passed its tricentenary - that's right, even Britain, never mind England, is older than France, Germany and the US. Where were the celebrations? Nothing. Not a party popper was fired. The BBC colluded to ensure the 300 year old union was like a fart in the wind - no one enjoyed it and it was quickly forgotten. On top of that this government has wilfully broken up British identity through over a decade of radical and dogmatic policies specifically designed to break up the family and promote regionalism. Now all the damage they have caused comes back and lands on their roof, they have the cheek to call for us to fall on our national identity to pull us through. Outrageous. Scandalous.
  17. It is a technical constitutional fact that the monarch can dissolve parliament. While it is only a matter of ceremony today, the power remains with the monarch. Because QEII has been so stable and intelligent about things there has never been any need to change this fact. Look at the Australian constitutional crisis of 1975 to see the power of the monarch - or in this case her representative - when it comes to remving incompetent and damaging governments. But look at what we're talking about! On internet forums, in the pubs, on the streets, people are talking about a British Government being dismissed by the Queen - something which is no longer a totally ridiculous thing to think.
  18. In terms of the crash and imminent depression, very little shocks me any more, but this did. To hear a senior US Government official idly twiddling about in public with the idea of a global currency was quite interesting. Of course, this will not happen, not even under this government of incompetent and corrupt socialists, so what was the point? I think he wants to get fired, so I am expecting more from TG. Orahma already had to come out and deny it, and he'll soon get tired of doing that.
  19. The Queen is subtle; she has been at this game longer than most of the cabinet put together. In summoning King to the Palace, she has snubbed the first minister, as he is supposed to be informing her of events on a weekly basis. There should be no need to see the Governor of the BoE, and this is why this has never happened before. She has snubbed Brown, and made it clear to the public that she is aware of the seriousness of the situation. Also, I rather suspect King shares her views in terms of the mismanagement of the economy and she is consequently using him as a mouthpiece. After all - look at his actions after the meeting with her. It is at this point we should be grateful that we have a monarch with this much experience and intelligence who is above the political circle andis able to intervene. Who can intervene in the US? Where can the inexperienced and useless Barack Obama go for advice?
  20. While I am sure this is an exaggeration, I can believe the essence of it because I have been to plenty of academic conferences. Standing in front of hundreds of colleagues and making an undergrad howler like that would make many question his abilities. It's a closed up little world remember, where the same people meet at conferences several times a year and all know each other's work. Outsiders must prove themselves.
  21. Most academics live a life that is almost totally divorced from reality. Crucial in explaining their attitude is that they rarely have to answer to anyone and have had it this way since they were PhD students. Everyone around them is their junior in some way (students, support staff, conference organisers, refectory workers, cleaners, research assistants. Even quite senior support staff are below them in the pecking order) and this is the primary factor in explaining their behaviour. Also, you have to deal with a dreadful and shameless left wing bias the whole time. There was a kind of fascism to do with being seen carrying the Guardian out of the campus papershop. As for funding - there was always plenty of money for certain people in the departments I worked in, but others never seemed to be able to get hold of any. I watched one PhD student getting paid twice as much money for research work than a colleague (another PhD) student, for no reason at all. When I enquired on behalf of this student I was told it was a matter of "different budgets", which while believable is also pretty disgraceful. Man, could I tell you some Tales of Outrageous Funding.
  22. http://www.telegraph.co.uk/finance/economi...ing-market.html "The number of new houses being constructed leapt by 22.2pc in February. The news sent a tentative shoot of optimism through the market, since many economists have said that should the US housing market start to recover it will mark the beginning of the end for the financial crisis. "The vast majority of so-called toxic assets are tied in some way to the US housing market, so its recovery could help put a floor on asset prices worldwide. "The unexpected increase in housing starts brings to an end the longest period of contraction in the US home-building market in 18 years, according to the Commerce Department. It said work began on 583,000 homes last month, with the figures boosted in particular by an 82pc leap in construction of apartments and townhouses. "The US has suffered its worst housing slump in history as the debt bubble built up over the past decade has unravelled. However, with the Federal Reserve having slashed interest rates to just above zero and the federal government having pumped billions of dollars into measures supporting the market, economists have held out hope for some time that its decline would soon come to an end. "Economists said that although the figures should be treated with some caution, they represented an important break in the incessant stream of bad news. "Bill Cheney, chief economist at John Hancock Financial Services said: "Even if we get housing starts just bouncing along the bottom for a while, at least that means they won't be subtracting from GDP growth. This could be the end of the downward trend, but I don't think it's likely to be the beginning of an upward trend." "The news helped push US stocks higher, lifting the Dow Jones by 1pc to 7292 points in late trading. It comes ahead of the Federal Reserve's meeting today, at which it is expected to increase the amount of cash it is pumping directly into the economy, and coincided with tentatively encouraging statistics from China on bank lending and on appetite for copper imports." Can Blighty expect similar?
  23. Sure, and the love of research is derived from the desire to get published for the kudos it brings. Or used to bring. So uch stuff is published now compared to years ago, because of demand on academics to publish to meet research quotas and also there are many more academics today, of course. My own view is that if one is going to spend a year writing something it would be better if more than 1000 people worldwide actually read it. Academia is not what is used to be, but how could be? Our culture has changed too much for academics to have been left untouched in the dusty and sherry-soaked inner sancta of the post war years. Today it's about getting students through the door in as large a number as possible, often irrespective of quality. Corners are cut and quality is often sacrificed on the altar of equality. Where will it all end I wonder?
  24. So exactly what I just said - rich academics teaching rich students. The value of degrees goes up because only the rich can do them, and we are back to 1875 with all the rich kids making networks at unis and all the poor kids uneducated and out of the nep-work.
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