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House Price Crash Forum

David47

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About David47

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    HPC Newbie
  1. It is a great shame for Bovey's creditors because who has any real faith in him paying up? It seems that gamblers like him always win under the current rules as they are wealthy if the scheme works and if it doesn't the bankruptcy laws allow them to walk away. I notice that Bovey and Anthea have quite a few assets and yet their businesses have gone under before. So I feel sorry for his creditors who may well be small businessmen/women trying to make a living.
  2. I found this explanation helpful and it also highlights that the BBC doesn't always check its figures "UK Gross Domestic Product update Today’s 2nd estimate of GDP for the UK in the 4th quarter of 2009 was more pleasing news as the original figure of 0.1% has been revised up to 0.3%. The main factor driving the improvement was services growth which the Office of National Statistics said rose from a previously estimated 0.1% to 0.5% and industrial production and manufacturing were revised up too. Also a lot of the improvement was due to a better performance in December which sounds initially hopeful ( as in we are improving…) but also makes me wonder if it was also related to the change in Value Added Tax from its temporary level of 15% back to a normal 17.5%. However those who only look at headline figures may well miss that the 3rd quarter of 2009 was revised down to a decline of 0.3% rather than a decline of 0.2%. So the “net” improvement is only 0.1% but at least it is an improvement. As an example the news page on the BBC website has missed this significant point. Indeed if you look all the way back the fall in GDP has been revised over this period to -6.2% from -6% so in fact adding it to today’s figures we are in fact back where we started!"
  3. Even Stephanie Flanders at the BBC has started to panic on this subject. This is after saying for ages inflation was not a danger and a year ago putting on her BBC blog that inflation would not go above 2% before 2012. She yesterday decided that it now might be a problem because the increase in nominal GDP output has been driving prices and not output higher. So her output gap theory collapsed. Oh and she put out misleading numbers on GDP yesterday until she was corrected. Of course she had already been on the BBC news by then. I notice that she failed to say sorry though....
  4. Hi to all I thought that I would say hello. I am a self employed businessman and I own a property in London. I am interested in this site and hope to add to it with my views...
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