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plummet expert

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Posts posted by plummet expert

  1. The article doesn't give the reason, but from the figures, it's quite obvious why so there is this perceived monopoly. The overwhelming majority of households are still with their "default" provider that took over their supply at privatisation, and have never changed.

    Perhaps this is because changing is not perceived as useful, pricing is too opaque, or that people are too lazy (or too uniformed) to change to get a better deal.

    its almost impossible to see if u will save anything! I have tried to see if you can work this out and when I compared tariffs between companies, almost none of them were exactly the same, so you could NOT tell who would be cheapest for you atall. The way to deal with this is actually very easy. The Companies must be forced to provide say 4 tariffs that are exactly the same - ie amount per unit at a level amount whatever you use; a low user tariff with cheaper units to start then more expensive units; a high user tariff with tapering lower price per unit after so many are used etc. But all companies would provide the same formula. At present they are not reconcileable. If they have to do as I say then the first 4 tariffs presented MUST be the comparable ones. They can then offer any others they like. What's so difficult about that??!! I suppose David Cameron just shot his mouth off before anything had been thought through and now thee's a silly furore - that's UK idiot govts for you.

  2. Exactly. The ludicrous game of musical chairs/pass the parcel/fill yer boots continues. There's a dearth of meaningful political debate in this country and look what it's led to.

    Indeed. My apathy has reached ground zero and is now entering f-k it mode. Watching Labour cement the economic destruction of the UK might give me a few jollies. Probably won't as I'm not fond of riots, but what else is there? Seriously?

    We need to stop the party stranglehold over MP's. They may not object to the Cabinet/govt or otherwise end up facing deselection! It's an elected dictatorship. It's broken. It cannot tell the truth, the whole truth and nothing but...simply because we (the electorate, so that's you too) keep on demanding they lie to us in terms we'd like to hear; talk of change; tell us they will take the 'tough decisions', when really a real change and long term type policies would lose them any election in this 'spin' world we currently live in.

    They come up with absolutely ridiculous policies without any background consultation of those who would know and can advise (ie not civil servants - but the health workers or the teachers, the police, the judges, the construction industry, the manufacturers. No, they just think of something and run with it. Take Law & Order - latest news is that Prison Governors are going to receive payments for the prison based on the rate of re-offending of those they incarcerate - the lower it is the more they will get - payment by results! The govt have previously announced that community based penalties produce much lower re-offending rates and quote a load of stats. But of course they don't realise that those who were not sent to prison were deemed fitter to undertake a community sentence than the ones sent away. People are rarely sent to prison now or in thepast, unless it is the last resort, or the matter is so serious the public and anyone else would think it only right.

    So truthfully after 25 yrs knowing about and dealing with all this I have never once been asked what might improve anything in the Justice system. I could soon sort it out over a 3-4yr period! I have offered many times. No doubt lots of you would know of other areas but govt never bothers to ask those best placed to know.

    There is a serious myth being put about concerning crime. You may think the rate has been falling recently, even for years. Well, I can tell you the same number of arrests takes place annually within a few hundred at every police station I am aware of - that's quite a few stations. Govts have re-classified crimes time and time again to massage figures. It's in fact pretty steady. There are slighly less burglaries since DNA started but rather more alternative crimes take place, such as street robbery. I could write an essay, but you get the point. The govt's output on this subject is woefully misleading. And I believe it is the same with just about everything else. Sad.

  3. So we can just move out on the day the fixed term is up?

    I just fancy stitching the bloke up a bit if possible, and keeping my deposit .

    I'm an asshole :)

    The s 21 notice is valid but early! It's a LL who wants to preserve his position at the outset and he can. He can withdraw it if he wants you to stay aswell. You do not have to give any notice to leave at the end of the fixed term in this case. U only give notice if it becomes a periodic tenancy, running month to month after the end of the fixed term.

  4. http://www.moneysavingexpert.com/news/mortgages/2012/10/mortgages-tumble-below-2-if-youve-got-the-deposithttp://www.moneysavi...got-the-deposit

    Despite the rate drops, the Council of Mortgage Lenders said yesterday that mortgage lending was 10% down in September compared with the previous month.

    As these 'new' mortgages require a hefty deposit of 30-40% it's strange to think that they only exist because of the latest govt and B of E printing money game. It can mean only one thing - the lenders do not see prices going up and expect falls to continue. Otherwise why wouldn't they offer 10% deposit low rates mortgages with this mickey mouse money? They have to protect themselves from buyers going into negative equity territory.

    It reminds me once again that the 'money markets' availability to banks for mortgage lending is one of the reasons home are so expensive today. What happened to the good old days of savers depositing into a Building Society and a mortgage applicant borrowing the same funds? SHORT SIGHTED IDIOTS ALLOWED THEM ALL TO BECOME BANKS - They had to be able to 'compete' with banks didn't they? The result, lower mortgage costs they cried out. NO, it was a mirage leading to higher house prices and long term distortions and in the end much higher prices to live in Britain. It is making us feel poor in a country which should and could have easily have been in the top 3 wealthiest per capita nations. ..only with sensible bank and lending policies.

  5. great news, i like it when people are starting to get it that prices have to come down, or are coming down,

    and i like this bit too, "but they see little chance of them going up."


    Well, I have not seen so many prices being cut in West Sussex since 2009. The much heralded RightMOVE September asking price hike is a load of nonsense. Looking at sales; they are either absolutely spot on location/most desired homes or are the ones with a cut price about 10-15% lower thsn their neighbours asking prices. Sales are slower and still slowing. Sentiment is definitely for prices to fall.

    The economy has avery long way to go before you can call it any sort of real recovery. Unemployment is only showing a fall because a. many peoples full time jobs are replaced elsewhere with part time and 2. there have been real wage cuts and/or freezes and 3. Benefits have become a little more difficult - eg disability or ESA - lots of people told they are fit to work - then taking up some sort of work. It's harsh, but the facts of life. Under Labour the benefits would have carried on flowing with less questioning and therefore unemployment would have appeared higher. Tax credits etc are being limited, so some people may seek part time or extra work to make up for it.

    This is why u have heard economists wondering why there is a rise in employment and a nominal fall in unemployment when we are in recession. Lots of non-working persons would claim benefits if allowed to do so when the wages do not give them a greater standard of living - it might even be worse by the time you take into account all the 'passported' help once u are on benefits such as free school meals, prescriptions etc.

  6. playing devil's advocate to my own view, but feel it deserves a specific thread of its own

    It only works when it is on a small scale and when govt borrowing is not ALREADY out of control. otherwise it does NOT work and does not even pay for itself.

    The effect of massive QE and low interest rates on current circumstances is ...

    1. to stop markets correcting

    2. maintaining a pointless and damaging bubble.

    3. To have, in just 5 years (ONS STATS today) the number of people in full-time employment fall by 355,000 • the number of people in part-time employment increase by 724,000 • the number of unemployed people increase by 883,000

    If just spending would create wealth, then any govt could do it - the more the merrier. It sounds too good to be true? OF COURSE

  7. Been looking at auction properties and, as someone privelaged enough to be able to borrow possibly 30k from BOMD (that is borrow though, probably with interest of 5%) we have been considering some small bungalows which might necessitate a 70k mortgage. I was due to go to the bank tomorrow and find the awful truth about trying to get a mortgage as a first time buyer who runs his own business. We have now realized that as painful as renting can be sometimes we have managed to live in houses with our children that are far bigger than we would ever afford buying. We have the ability to move to an area with better schools without worry. We can move for economic or employment reasons without significant worry. We dont want to be slaves to the banks or my parents and we still think 100k for a poxy, small and outdated bungalow with poor insulation plus all the fees associated with moving are really worth it. So, thanks HPC, saved again.

    Maybe in a couple of years if prices drop. If they dont drop here we will move to an area where they will. Hell, we could be dead in an accident next year - we want to live life to the full. Yes we cant plan and plant a beautiful garden (would we have the time if trying to pay a mortgage) and there are other downsides to renting, but we feel the time is not ready. The knowledge I have gained from this site since joining, and for several years before I joined when I just came on and looked at other's posts, has been invcaluable in planning our futures and living life to the full without the trappings of consumerism and property envy.


  8. Whether or not lawyers don't like it up 'em, I think the guy has a valid economic point. Nowhere, and I mean literally nowhere, else in the world would a senior partner in a law firm not be able to live in the best area of town if they wanted to. Saying that they could always live in Docklands is besides the point really. If someone one half a million pounds a year and up is priced out of most of central London, what possible hope is there for normal people? London property is the mother of all bubbles in my opinion and, when it pops, it's going to make 2007 seem like a very small storm in a very small teacup.



  9. Is there anybody else who believes that the Bank of Englands program of Quantative Easing is bound to fail?

    Quantiative Easing is no different from a company insider buying their own shares creating an illusionary demand in order to raise their price. The only difference is that this 'illusion' is taking place on a vast scale within the UK bond market. Surely this has to end in disaster?

    The concept that 'economic growth' will remove us from this situation is simply not true: every day the Bank of England is buying more and more bonds/gilts to prop up the pounds value. Government spending is spiraling out of control and cannot be curbed due to an entrenched union movement that is hell bent on Marxist destruction.

    At some point there is going to be a loss of confidence. The only solution to this is to reduce the size of government on a vast scale. What people employed by the state need to know is that this is going to happen. You may manage a few more years being subsidised by the taxpayer and Bank of England but in the end you are going to lose your job: the current system in unsustainable in the long run.

    Its time for all those employed or pensioned by the state to understand that the younger generation is not picking up your bar tab: do it yourself.


    What’s killing our economy? Money.

    By Dominic Frisby


    Friday, 12 October 2012 at 2:55 pm


    I subscribe to George Orwell’s view that “On the whole human beings want to be good, but not too good, and not quite all the time.” But if man is “mostly good”, I ask myself, why is it so easy to look around at the world and find so much to be troubled by? Wars, waste, famine in one part of the world, obesity in another, excess consumption, a financial system that’s out of control – and so on. My particular bête noire is the unequal distribution of wealth.

    There are all sorts of manifestations. Across generations – for the first time in history, my and the next generation is poorer than its parents. Yet, with man advancing, surely this shouldn’t be so? Most people in London under the age of 30 don’t believe they’ll ever own a house – that’s awful. We see it across nations. The richest 400 people in the world have assets equivalent to the poorest 140 million.

    We see it within nations. The wealthiest one per cent of Americans pocket one-quarter of the country’s income. Through property, bank accounts, investments and art, they control as much as half of total US wealth. That share of wealth has doubled in the past four decades. We even see it within institutions with the high-flying City boss who earns 1,000 times more than some lowly cashier in the same bank.

    If man is, as Orwell says, “mostly good” how has the distribution of wealth become so skewed? I would argue that it’s our systems that are at fault. Yet they are so big and entrenched, there’s nothing much anyone can do to change them, beyond superficial reform. The biggest villain of all is our system of money.

    Many people spend a lot of time thinking about how to make more money. But not many people think about how our system money actually works. It’s a system that has been in operation globally for just 40 years – since the US finally departed the gold standard in 1971. The Bank Of England calls it “fiduciary money”, others “fiat currency”. Under this system, money is the issuance of governments, it’s not backed by anything tangible except the law. Banks have the power to create money through lending.

    In 1971, I could have taken my son to the FA Cup Final for £2 (now over £100). The Mars bar I bought him at half-time would be 2p (now 60p). The beer I bought myself would be 11p (now £5 a pint at Wembley). The gallon of petrol I needed to get me there and back would be 33p (now £7). And the house we went home to would be something like 2% of the price it is now.

    Average earnings have increased too, but not by the same multiples. They have risen from around £1,500-2,000 per annum to about £25,000 today. The differential has been covered up by more debt, longer working hours, more women in the workplace and so on. Yet through the 100 years of economic growth of the 19th century, prices actually fell according the wholesale price index, and wages rose.

    Why does everything – except mass-produced goods – relentlessly rise in price? It’s this system of fiduciary money. There is almost no limit to how much can be created. And the more money there is, the more diluted its purchasing power becomes, and the higher prices will rise.

    Some benefit hugely from this system: those who control it, and those who are at or near its point of issuance. Governments and banks, in other words. As well as enjoying a monopoly, they have the power to create money (whether by printing or through lending) and to charge interest on it. They also get to buy assets with their share of the newly minted money, before prices rise to reflect the new money in circulation.

    Meanwhile the rest of us find that our savings or wages buy less and less, so we have to take on debt, and then pay interest on that debt, to be able to buy the things that we, or our parents, were once able to afford to buy outright. There is a constant transfer of wealth and it compounds over time. The few benefit at the expense of the many. This is why the state and financial sectors have grown so disproportionately large.

    It’s led to the horrendous gap between the so-called one per cent (the super-rich) and everyone else. It’s responsible for this gap in the wealth between generations. It’s why we have a culture based on debt and spending, rather than saving and investment. And it will only get worse as this transfer-of-wealth cycle repeats and repeats.

    However, changing the way money works is simple. It’s not electorally unpalatable. And it would make a huge, dramatic improvement in all of our lives.

  10. Been on the mkt since July 09 - over 3 years

    Still marketed as a new build...I assume all the appliances are no longer under warranty.

    Equally 3 years without being lived in (regularly cleaned, heated etc) will have taken some toll .


    It's so overpriced, no wonder it sits waiting for Godot. http://www.rightmove.co.uk/new-homes-for-sale/property-34763524.html

    It looks like a converted ex small light industry space. Totally souless and lacking any style. The sort of building which would fail to make the grade for future desirability and fall in relative value against other tradititional designs. I f***ing hate it. Cheshire is very expensive without enough reason.

  11. On the contrary they have understood the core principle of UK politics: over 60s decide who gets in. This is why they are protecting house prices.

    Anyone in power who drops the ball on this won't be around for another term.

    The tyranny of the majority.

    Shame for them house prices will not recover whoever may win an election in 2015. House prices are doomed, just like the Japanese found thropugh the 90's all the way to today - the policy of borrowing and not allowing the market rebalance itself with normal interest rsates is creating just another distortion. It is so short sighted I wonder whether anyone in govt knows what they are doing.

    I am not into soaking the rich. But the only rich peoples tax I am interested in seeing however, is one which makes people pay a fair sum, whatever 'paying vehicle' they may use to draw an income. It is high time that people cannot do business here, be domiciled somewhere else and withdraw large sums without paying any tax on dividends, or that Companies are used as a fence for a so called Contract of services, when really there is a fixed term contract of employment. I would stop all of that sort of thing. Any sums going abroad would incur a minimum tax of 20% come what may. I pay large sums in tax at times ( mostly better ones than now!) and resent people just getting away with it by using devices which should all be shut down. It can be done quite easily, but no one has had the balls. Not the ED kind

  12. The OFT could do something if they wanted.

    Houses don't have to be valued by unqualified estate agents.

    They don't do it any better where there are qualifications, such as in the states where there are Realtors. Qualifications would make no difference atall. It's a market. If you don't want to pay an asking price then offer what you want to pay. Simples. This idea that somehow there should be rules to stop silly prices or that a college course will suddenly make EA's all lovely people, is frankly fantasy. That said, a good agent does perform a task people want as they keep on instructing them time and time again. People like them to shield the truth about a mortgage problem, keeping a chain in tact. But as soon as they feel a slight untruth cam etheir way, they suddenly villify them.

    Just as with Politicians, people should decide what they want. If they had no useful function they would soon stop using them! People like the go between negotiator. They like to get 3 price appraisals and that in tis country, all the advertising is in the price and that when they don't sell after 12 weeks otr whatever, there is nothing to pay! That is not the case in many other countries. ie Australia, where it's an extra to pay for advertising over and above the RM equivalent. It's an exrta to a pay for an auction, which is very common. It will probably be 2.5% plus adverts and auction - say £500. In France it's about 5% when all is said and done.

    The price is what someone is prepared to pay - your first economics lesson.

  13. Shurely shome mishtake?

    US Foodstamp Usage Rises To New Record High

    At 46,681,833 million the persons hooked on SNAP, the July number crossed the previous record posted a short month before, as the foodstamp curve continues 'plumbing' newer and greater heights each month.

    More disturbing is that in the same month, the number of US households reliant on foodstamps rose by a whopping 99,493 to 22,541,744. Assuming a modest 2 persons per household, the increase means that more people went on Foodstamps in the month of July than found jobs (181,000 according to the latest revised NFP data). Furthermore, it appears that buying votes has become a tad more expensive in the past month. After the benefit per household dipped to a record low in April at just $275.81, this has since retraced some of its losses and is now at an inflationary $277.92. Oh well: inflation.


    LOOL! :lol:

    It's not a fall in unemployment atall! They take people off the register once they are ineligible for the dole in the USA. The real level of unemployment and foodstamp takeup is phenominal in the USA. They are about to run out of their budget of 16 TRILLION DOLLARS of debt and no one really knows what to do about it - election time too!! The "Let's spend and wait for growth to catch up and pay for the borrowing policy" ain't working Mr President. It would have been harsher but kinder to have tried to balance the budget and had more folk on foodstamps so you could actually get to the botttom of the cycle. Then u would see real growth born of a real economy, not based on phoney money made up on a computer screen. All that has happened is you have mortgaged away another 10yrs of income in 4.

    Europe is at it too!

  14. Ok, I've been watching these forums for years, didn't register because I didn't want it to eat up any more of my life...but now I find myself with a big rental problem...

    So in January, I signed a 12 month AST with two individuals; a woman X, and a man Y; we're all in our late 20s. At the end of June, the woman X brought home a few friends late at night (first time, but for watching tele at 11pm a few weeks earlier)...man Y reacted by storming upstairs, smashing a load of crockery and breaking one of the friend's motorcycle helmets (the latter not witnessed). Viewing the 'tele watching incident' as a first warning, he suggested that this was a second warning, and that next time he would smash everything in the house. The next morning, he was unrepentant, squaring up to the motorcycle man saying 'yeah, that's what you get if you wake me up'. Woman X never really felt safe in the house again

    A few weeks back, my girlfriend had the audacity to rise before 8am as she has to leave for work at 8am. Man Y reacted by shouting loudly and putting on loud music. He then said he wouldn't tolerate being woken before 8am (despite the fact he always used to wake woman X by having a shower at 7am). Taking that as a first warning, I proceeded to look for alternative accommodation. The second warning came the next week when he verbally abused my showering partner (there as she'd been comforting woman X about man Y's behaviour late at night) and, when asked, threatened to push me down the stairs. I reacted by bringing forwards my moving-in date on the flat I'd found with the other half. Woman X left to go back to her parents...I'm not sure either of us have spent a night there since

    Knowing we had a legal obligation to pay rent/agree bills with man Y until January, we took a reasonably soft approach. He then withheld September's rent on the pretext he had been paying council tax in error (he's a student, we work but, as a condition of living with him, we'd agreed we'd contribute equally). So, not content with a 3 bedroom house in central Cambridge for £360/month, he wanted it for free...suffice to say we only paid the landlord 2/3 of the rent

    This saw me and woman X personally threatened with court by the landlord; man Y has now backed down but probably not for good. It's also worth noting I went back to the house to return a breadboard I'd taken in error when quickly removing my possessions from the property. I found the front door deadlock with a key jammed in, and I don't have a key to the back gate padlock...so I can't even access the property I'm paying rent on

    I've contacted Citizens Advice and they seem to think we could absolve ourselves of obligations to the house via the Defective Premises Act of 1972...but there's nothing wrong with the house. Anything more extreme like seeking an Occupation Order would be expensive and not resolve the fact there is an AST until January that the landlord is holding us to. Indeed, any action against man Y would make it less likely he will pay rent/bills for the next 3 months

    Man Y is actually happy to assume all liabilities if we return all keys to the landlord and keep subsidising him to the tune of £790/month. Honestly, that seems a reasonable option from here BUT the landlord refuses to countenance it

    Does anyone know of any grounds on which I can be shot of my liabilities? It doesn't seem right that I should be kept to a tenancy where it would not be a safe environment for myself or my property...or is that just how bad rental legislation is?

    He committed 'CRIMINAL DAMAGE' when smashing things. He should be reported to the Police and he will be arrested. While he is in custody make sure the police understand that you and your gf are frightened of his behaviour and expect bail conditions of non contact and not to attend the said house/address/road in which house is, to be applied - explain his threatening behaviour. RE-occupy the house and arrrange with LL for locks to be changed. Ask LL to terminate the Tenancy and reissue one for 6 months with facility to find a third more normal house sharer. OK? He will have evicted himself by his totally unreasonable behaviour. Ar......

  15. Been waiting 2.5 years for a rightmove bingo full house....i.e. 10 drops on one page of rightmove listings.

    Finally got it today for this search:


    This last happened for me when the market had collapsed and people were desperate to sell......


    My wifes loves to scour RiGHTmove almost daily and she has reported a good quantity of worthwhile price drops in the last 3 weeks. MANY more than we have been seeing - like £349,950 to £327950 to today..£310,000. That's in 3 weeks. Quite a few like that in West Sussex and in perfectly liveable areas.

    Whether its another blip remains to be seen. Sales have definitely slowed up again. It won't take much for this teetering market to fall over, but we have had a long wait and the slow motion crash is not helping anyone

  16. I hear that sales of whips and handcuffs is so booming that the 3 main fetish monthly fayres, in London, Brum and Bristol, are about to be joined by a fourth in Cardiff.

    It is staggering the number of people whose line of income is making and flogging - lol - floggers and other such kink stuff. :blink:

    What on earth are the great British public up to after watching Strictly of an evening...

    Lets all flog the EU together. Perhaps they'd like us more then?

  17. Daiy mail

    Thanks TMT see link for details


    Economists last night declared that the recession is all but over after a powerful rebound in the dominate services sector.

    Output from services firms – such as lawyers and accountants, hairdressers and restaurants – rose 1.1 per cent in July, figures from the Office for National year after business was disrupted in the second quarter by the Queen’s Diamond

    POWERFUL REBOUND IN THE SERVICES SECTOR! This is not very likely and will be a statistical blip, just as the 0.7 decline turned out to be - 0.4 instead! It is a very rocky road out there. Southern Europe is in depression and that will soon include Italy. France has just announced serious budget cuts. Germany to follow? Any growth will be weak for the short term and may even fall back to recssion again. Services alone will not pull us from recession. Generally accountants and Lawyers are not seeing any rebound and business is tight. A few massive London firms can give a false picture if they temporarily get some huge deals on the their books.

    HOWEVER, we are exporting more outside the EU. Perhaps a lesson in stopping this belief the EU trade area is our only living. ROLL ON AN EU REFERENDUM. DON'T VOTE FOR ANY PARTY WITHOUT A CAST IRON GUARANTEE OF AN IN/OUT REFERENDUM

  18. I'm sure you already know, but the none structural deficit is the bit they conveniently assume will vaporise as a result of magic growth, unfortunately there is no growth and thus the structural deficit becomes a lot bigger.

    They never said they were going to get rid of the whole deficit, just the easy bit, shame they've achieved nothing anyway.

    The Govt keeps claiming to have got rid of 25% of the deficit problem. They are referring to the month on month borrowing (structural deficit) govt is doing to just pay for the public sector. It has fallen a bit, but every month massive sums are being added to the overall national debt now at about £1100 billion or £1.1 TRILLION. It went up again lately. The interest payments to service that are rising even though for some inexplicable reason markets want to lend to us at about 2%pa. Also the B Of E is buying our debt back with non-existent money too! They are only doing that because....ereeeerhmmm, we can't pay it. Imagine if those national debt bond rates rose to 3 or 4 %? We would not be able to service it atall at 5%. Our borrowing could rocket very rapidly out of control a la greece & spain. There would be no nice man at the ECB saying he'll print anything we like to buy our bonds like he says for Spain, Italy, Greece, Portugal & Ireland to mention some of them....now how realistic did that sound?

    I think 2013 brings the bottom of the business cycle with it. Possibly an 80yr cycle.

    The fairyland economics of the 21st century continues....next episode soon...

  19. Interest rates up soon then and no more QE?

    It is very telling that this growth is paid for by excess borrowing and is not paying for itself. A growth of 0.5-1% cannot overcome escalating borrowing of £14.4bn in a month. The national debt is now over £1.1 TRILLION. It would not be funny if the markets wanted us to pay more than the 2% or so currently.

    Growth which does not more than pay for the borrowing and start to reduce it, is NOT a recovery...yet.

    The Govt's claim in recent months that they have got rid of 'a quarter of the debt' , sadly does not stand up to scrutiny. They have scraped the top off the structural deficit without any sign that it is anything like enough to prevent a borrowing crisis at some stage. If the UK PLC were going to a bank with their criteria for Company lending, they would take one look at the balance sheet and say, you are dying and require massive structural changes. Let's not forget that the August current account deficit was also massive and apparently took the govt by surprise. It may be a blip but nevertheless it can hardly be encouraging anyone to think we have turned a corner.

    Sir Phillip Green's comments are not evidence of that opinion. They are evidence that the HIGH st has hit bottom. Since SO MANY shops have shut and so much trade is now online it probably has reached a 'can't get much worse' position. Note here, that online sales have recently shown a DROP for the first time. That's evidence of an economy turning round? I think it's going to take 5-7yrs and will require more austerity than so far put into place. The USA is better placed to recover. Borrowings about the same against GDP, but crucially, the house market and State govts have been allowed to adjust by going through a big bust. That process is around bottom. We haven't even bothered to allow markets to prevail over housing.

  20. BBC News were just discussing the possibility of parents and grandparents using their pensions to guarantee the mortgages of their children and grandchildren, thus helping them to "buy now and get onto the property ladder".

    Elderly newsreader thought this was a good idea :lol:.

    Seems it's got something to do with the Lib Dems. Lib Dem noddy just said they are in discussions with pension companies and lenders :rolleyes:.

    Clearly a very stupid idea. For one thing, look at all the trouble brought about by endowment backed mortgages which did not perform. Why? they were riding on a guess that the stockmarket would rise and pay off the loan. Pensions are....well...riding on the stockmarket in the main.

    Can't these idiots see that what we need is this fairyland equity to be wiped off those grandparents homes and real prices related to incomes return? Put up interest rates to 4-5% ...simples!

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