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House Price Crash Forum

John Galt

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About John Galt

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  1. Its been a big week so far but now the markets seem to have calmed down today after various bailouts and mergers. However are these measures just sticking plasters to cover a huge gaping wound? What about when reposessions start to rise exponentially on the back of rising unemployment? Have the banking losses already been factored in, or will the likes of HBOS/BB/A+L be taking bigger hits in 6-12 months time when they have to reposess homes on a 90-100% LTV mortgage that have lost at least 30% of their value? I would expect more bankruptcies in travel companies, retail and many small businesses to follow. If this is all getting factored in now I give the markets another 6 weeks before a major crash. If it dosen't get factored in until it actually starts to unfold on a large scale I give it 6 months. Anyone else like to make some predictions?
  2. Share price sliding below 150 again, are the markets losing faith in a Lloyds rescue?
  3. I used to live round there, complete shithole. A few empty/derelict properties on that same street. That house needs tens of 1000s spent on it, been empty for a long time. £260k, what were they thinking!
  4. I was rather hoping the masses would have woken up by then and realised they are being conned, and reject the system for the orwellion control grid it actually is.
  5. If it has been pre-planned and the powers that be want to create a new more complete system of control dosen't this put them at risk of losing their present control to a third way?
  6. Well I don't think this to be the case, the market is destroyed and may well bring down the US financial system on the back of putting all this risk on the tax payer. I don't believe anyone can bail out this crash either here or in the US.
  7. It's not surprising adults recieving financial help from their parents. What I do think though is that over generations the financial help has become greater over time (in relation to average earnings) and also over a longer period. My grandfather left school at 14 to work, my father moved out of home at 16, myself 18 (now 29), my sister and brother 22 and 21 show no desire to set up themselves and leave home and neither do most of their friends. I think a lot of that is due to it becomming more and more difficult for individuals to live a financially independant life from an early age. HPI has not helped this. Also the obsession with education to university level and the esculating costs of this. I don't think a society where adults are getting older and older before they take financial responsibility is a good thing.
  8. Totally agree. Mugs who are willing to accept a cashless society only deserve the slavery it will create.
  9. There has been a lot of draconian laws passed especially in the last ten years, the 42 days detention being one of the most heinous. These could easily be used on a very broad basis in times of economic chaos. If fact perhaps control freaks in the government/civil service have any even more draconian set up there sleve for when/if times get really bad? CCTV and facial biometrics could be the next Big Brother expansion. Some articles are suggesting big trouble when the BOE reviews its emergency lending/propping up of the banks in October.
  10. Hi there, I decided to start posting on HPC after lurking for a couple of months. I'm in my late 20's, a renter. I did put a low offer on a house in January, as something to renovate and sell on quickly. Luckily for me the offer was rejected, and I quickly gave up on the idea after reading the Feb and March RICS housing market reports.
  11. I managed to post this twice, hence the edit. I look forward to the comments.
  12. I've been thinking about Alister Darling's revolation and am going to attempt to flesh it out into likely scenarios for the future. In doing this I want to look in terms of the bigger picture and try to join the dots if possible to other adgendas/events being played out. Scenario 1. We take Alister Darling's comments as likely to play out just as he implies. In this likelyhood a 10 year recession, very high unemployment over 10%, repossesions on an unpresidented scale and as Jacqui Smith said in todays Times, rising crime and "a growing sense of disadvantage could push many susceptible people into extremist groups that can lead to people becoming terrorists". If individuals don't take responsibility for their debts, lack of income etc and demand government help we will see more exchange of liberty for so called 'security'. Council snoopers, biometric ID, increased CCTV, black boxes in all cars and other intrusions will all be pushed by the government for our so called "security" in these troubled times. Scenario 2. This is the worst econimic crisis in 300 years. The fiat currency, "all money created as debt" bubble bursts once and for all, the world banking systems collapse. http://www.youtube.com/watch?v=cy-fD78zyvI...nk-run-of-2008/ My thinking behind why this could occur is that our economic system is based on constant growth, but we live in a finite world. Also the law of nature is that you have to work(hunt) for your lunch/flat screen tv/car/house. Has this unpresidented credit binge unbalanced the system so much that it will just fall in on itself. If this is the scenario that is really playing out in the world at the moment where does the world go from here. I propose two alternatives: A. A totalitarion world government and a reduced quality of life for all except the richest few. Evidence for this: European Union, Amero, the increasing surveillance state... PLEASE ADD MORE... B. A collapse of the capitalist economic system and a global conciousness reawakening where people take responsibility for themselves in balance with nature. An improved quality of life in non-material terms. Evidence for this: Environmental collapse, growing disenchantment with a materialistic culture fed by envy and greed, the internet as a democratic global conciousness/oneness...PLEASE ADD MORE...
  13. Shit..........I was having a conversation with my brother tonight warning of this very scenario perhaps coming to the fore in early 2009, but with perhaps not such dire revelations from the government. I was sugesting spreading his saving from £s to other currencies but not sure which as the $ and Euro aren't exactly dependable at the moment either. What the **** to do now? Otherwise I am just about organised to leave the UK in the next few weeks.
  14. Could there be some kind of tipping point that could be plotted on a graph, Increasing Government Control/Fines against Compliance?
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