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boom_and_bust

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Everything posted by boom_and_bust

  1. Hi, Will you read the article please. He is in serious doo-doo. He surprised analysists by finding 4 billion in one year of retrospective corporation tax. Business has not feared so well this year. He still has to find 21 billion more in twelve months to balance the books. He signed an agreement in March with the EU central bank to do so after receiving warnings about Britain's deteriorating fiscal and trade defecits. His best bet about now is to go down to Monaco and spin the roulette wheel. That is about the best hope he has of finding the money. So, lots of public spending cuts on the horizon. Maybe some tax rises. Good chance of interest rate rises next year when the markets react to him getting pulled in front of the EU central finance commision like a naughty little boy to go begging for some money. Boomer
  2. Hi, And that was your investment statergy? In years 1-4, you had the money, you have previously said that you are a professional property dealer but you let 200% property rises pass you buy. You had the money, you are a fulltime property speculator. No, it doesn't sound credible at all. You would have bought, sold at the market top 18 months ago and then invested in shares or gold and watched another 30% appreciation to now, then you would wait another two or three years from now and buy repos flats for BTL at the auction rooms. Infact, I am more likely thinking that you are an amateur speculator late to the party, up to your armpits in debt with depreciating properties and falling rents. So thanks for your advice to ordinary folk just looking for a home but don't call us, we'll call you. Boomer
  3. Hi, Phew! Only 12 months to go then to find 21Bn more pounds to balance the fiscal defecit. And more than same figure again to bridge the trade defecit, before he has to present his balanced economic cycle to the European Central Bank. Although, he is more likely to be begging finance off them, especially if sterling continues to fall. And their usual prescription for past offenders has been to cut public spending and raise taxes. And he will need to be raising interest rates anyway if the trade defecit doesn't correct and sterling really tanks. Miracle economy built on mortgage debt, credit cards and public spending and borrowing. Tut, tut, tut. Boomer
  4. Hi GerLewis, AhHa! What, you mean actually pay for all this insanity? You mean, someone actually going out and earning real money from real jobs by providing real services and business? Instead of sitting on your derriere and expecting a falling economy and credit card borrowing to support already hyper-inflated house prices? Now that is the crux of it. Someowhere along the line, someone really have to come up with the money. FTB's were sold down the river by Gordon Brown when he went off to the printing presses with BTL and the promise of SIPPS, illusionary money. Anyone with even a baisc understanding of economics, and a reading of the particulalry speculative nature of the UK housing market and it's ten tear crash-cycle profile could see it. Consumer debt 1.2 trillion debt and not falling. Repocessions and bancuptcies on the rise. People struggling with debt, trade and fical deficits out of control - Gordon has no solution to it, CBI, OECD and IMF all commentating that in the absense of a miracle, he has 12-24 months before he has to start raising interests rates and cutting public sector spending. He has no choice, we signed the Maastricht treaty and committed to the economic stability pact. He has to balance his trade and fiscal defecits or leave the EU. The clock is ticking. And sterling is falling, making things worse. Let me remind you as well, the last crash was not caused by the big interest rate spike in late 1992. The market crash was well underway before that, those untrustworthy Halifax and Nationwide indices were already falling before then. It was the governments attempt to prop up sterling under a weakening economy and compliance with the ERM that caused speculators to attack the pound, spiking rates. With the current government and private debt levels, a weak pound is not an option, Gordon will raise as soon as the pound gets weaker. The debt levels have snookered the economy, higher pound and interest rates will further depress the economy, weaker pound and interests rates will put him in breach of Euro Economic Zone rules, which he already breaking bigtime and escalate the cost of debt. Let's see. Goes back to what I say, real economy requires real people making real money. Not BTL and MeW. Always has,always will. At the moment we are at the top of a housing bubble. Down it's coming, then the whole process will start again in a few years time. And another reguard pincer movement happening now. The crazy situation of interest only mortgages and 6-7-8 income multiple borrowing is coming to a close. The Financial Services Authority (FSA) is close to completing its commision this week on prudent bank lending, mortgage salary fraud and mortgage broker practices. It is widely anticipated that they are to hit hard on the practice, to require banks to rigously check multiples and maintain long-term lending mutliples. Banks have already starting raising their bad debt provisions and tightening lending criteria in advance. The market bubble partly rose on fraudulent mortgage approvals, now that's gone, how do you see people raising those funds? They won't. The market will correct to the new position. Even the Nationwide - who I would not trust anymore than the Property Guru - have indicated price falls for next year. Since they basically pick and choose a small number of properties they wish to include in each survey, that is never publically or independtly monitored (they could say what they like! Who would know any different?), I reckon they know what is really happening now. They know the game is up, that they will have alot of angry people on their hands if they continued with same old rhetoric anymore. Listen,in the long run,it's all for the best. You know, like when you keep spending crazily and the overdraft gets out of control? You consolidate for a while, clear things up, get back onto an even keel. Really, it's for the best. otherwise there will be alot of FTB's later down the line in deep,deep negative equity, adding to the repocession rates, the banks selling off their properties for a fraction of the costs and leaving them with the debts still to clear for the rest of their lives, credit history destroyed. It's happened plenty of times before in the UK, it's happening in other parts of the world now. Buyer beware! Boomer
  5. Hi, Yes, c'mon! Figures now! Stop with all the wishy washy Estate Agent rhetoric. Give us real scenarios and figures about what you're trying to compare with. Boomer
  6. Hi, Yes, go buy a derelict studio flat on a sink estate,probably all you will get for 3.5x most people's salareis. You will have crack dealers and whores plying trade outside your window, gangs of youths spraying graffiti on your walls, you will be mudered and raped and brutalised at some point during your existence there. Wild dogs, beying at the moon while you try to get to sleep, get to work, or maybe the two jobs you are working, to pay for this Mad Max scenario that is your life. Or just sit back and watch the ecomomic cycle and housing market rebalance in favour of those who actually believe in getting up in the morning and trying to work for a living. Boomer
  7. Hi TTRTR, AhHa! What, you mean actually pay for all this insanity? You mean, someone actually going out and earning real money from real jobs by providing real services and business? Instead of sitting on your derriere and expecting a falling economy and credit card borrowing to support already hyper-inflated house prices? Now that is the crux of it. Someowhere along the line, someone really have to come up with the money. FTB's were sold down the river by Gordon Brown when he went off to the printing presses with BTL and the promise of SIPPS, illusionary money. Anyone with even a baisc understanding of economics, and a reading of the particulalry speculative nature of the UK housing market and it's ten tear crash-cycle profile could see it. Consumer debt 1.2 trillion debt and not falling. Repocessions and bancuptcies on the rise. People struggling with debt, trade and fical deficits out of control - Gordon has no solution to it, CBI, OECD and IMF all commentating that in the absense of a miracle, he has 12-24 months before he has to start raising interests rates and cutting public sector spending. He has no choice, we signed the Maastricht treaty and committed to the economic stability pact. He has to balance his trade and fiscal defecits or leave the EU. The clock is ticking. And sterling is falling, making things worse. Let me remind you as well, the last crash was not caused by the big interest rate spike in late 1992. The market crash was well underway before that, those untrustworthy Halifax and Nationwide indices were already falling before then. It was the governments attempt to prop up sterling under a weakening economy and compliance with the ERM that caused speculators to attack the pound, spiking rates. With the current government and private debt levels, a weak pound is not an option, Gordon will raise as soon as the pound gets weaker. The debt levels have snookered the economy, higher pound and interest rates will further depress the economy, weaker pound and interests rates will put him in breach of Euro Economic Zone rules, which he already breaking bigtime and escalate the cost of debt. Let's see. Goes back to what I say, real economy requires real people making real money. Not BTL and MeW. Always has,always will. At the moment we are at the top of a housing bubble. Down it's coming, then the whole process will start again in a few years time. And another reguard pincer movement happening now. The crazy situation of interest only mortgages and 6-7-8 income multiple borrowing is coming to a close. The Financial Services Authority (FSA) is close to completing its commision this week on prudent bank lending, mortgage salary fraud and mortgage broker practices. It is widely anticipated that they are to hit hard on the practice, to require banks to rigously check multiples and maintain long-term lending mutliples. Banks have already starting raising their bad debt provisions and tightening lending criteria in advance. The market bubble partly rose on fraudulent mortgage approvals, now that's gone, how do you see people raising those funds? They won't. The market will correct to the new position. Even the Nationwide - who I would not trust anymore than the Property Guru - have indicated price falls for next year. Since they basically pick and choose a small number of properties they wish to include in each survey, that is never publically or independtly monitored (they could say what they like! Who would know any different?), I reckon they know what is really happening now. They know the game is up, that they will have alot of angry people on their hands if they continued with same old rhetoric anymore. Listen,in the long run,it's all for the best. You know, like when you keep spending crazily and the overdraft gets out of control? You consolidate for a while, clear things up, get back onto an even keel. Really, it's for the best. otherwise there will be alot of FTB's later down the line in deep,deep negative equity, adding to the repocession rates, the banks selling off their properties for a fraction of the costs and leaving them with the debts still to clear for the rest of their lives, credit history destroyed. It's happened plenty of times before in the UK, it's happening in other parts of the world now. Buyer beware! Boomer
  8. Hi, The finacial services authority are cracking down on it now, was in the economist and FT this week. They are also investigating brokers practices, banks are increasing their provisions. 7-8x income multiples are very unlikely to occur for a while. Boomer
  9. Hi right_freds_dead, I've lived through crashes before, this one feels no different. I can understand frustration at the situation, mostly a politically generated issue to be honest over the past few years that has gone beyond a normal market top but really, look at all other crashes, they just don't happen in a few months or a year. It is a few years to go. For me, the economics and ancedotals are really what the site is about, beyond that, I am not so sure. And you either detach your heart from the day to day stuff or you're going to get really fecked off because make no mistake, the spin is going to get much more intense over the coming six months. The VI's HAVE to convince you that the stagnation is not the result of the market top coming through but something else. Look at the old press releases for the past two crashes, it was exactly the same, market stagnating, set to rise next year, blah, blah. Britiain's recent 'ecomonic miracle' was based on private and public sector debt, as spelt out countless times. The consumer debt is collossal and has run out, hence why industry is in malaise, bankruptcies and repocessions rising, high street sales down, economic growth slumping and with Brown's EU budget commitments, the last remaining petrol-can on the hyper inflation housing market, public spending, has already started to get cut. He has to get the budget defecit and trade defecit back in balance within the next 12-24 months. Pretty impossible without big cuts in public spending and rises in interest rates. Don't take my word, checkout the recent commentaries by the CBI, OECD and IMF. Look with your own eyes regularly at estate agent windows and web sites. You will see properties on the market for 6,12,18 months, coming on and off at lower prices. In my area this week alone, SW15, there has been a deluge of studios and 1 bed flats (BTL favourites) on findaproperty.co.uk. I mean, literally, quadrupled between this week and last. All down near the University and Hospital, student renter land. At a time when similar properties have been sitting unsold, after price drops, for upto 18 months in some cases. I can't speak for other areas but it is happening here for sure. That said, it is natural and human to wish to express a voice in the public arena. Make no mistake, this was a nutural cycle that got hyjacked by politicans. The big two BTL landlords, Blair and Brown, based their reelection on promising ever increasing HPI, with some SIPPS thrown in, to the largest voting group, the baby boomer generation (me! Yes, I know, sorry), the very ones who lost bigtime under the NuLab pensions fiasco some years ago, when many people lost their pension pots. There is some just cause, for the borderline political NULab corruption, to be honest. I don't think anyone can blame you for feeling some sickness at it all. The recent french rioting was mostly based on one group of society feeling that a political system was biased against them economically, exluding them at the political expense of other groups. HPC.co.uk is really not the right avenue for that kind of expression, maybe. Have you considered other routes though? There is the saying, 'Your enemy's enemy is your friend'. To illustrate : In 2002, in France again, Jean-Marie Le Pen, the Nationalist Front Party leader (extreme far right with some pretty unpleasant views), came second in the presedential elections. In a low voter turn out, he grabbed around 20% of the vote and, under the French voting system, that infact put him head-to-head with Chirac in his reeelection campaign. That was the first round of voting, the next and final round of voting requires the electorate to choose between one or the other of the leading two. Le Pen was a whisker from getting election to the top job, something that shocked the nation at that time. Of course, he never was going to get in. It was a protest vote against the current president. There was stories in the media at the time of people who would never consider voting Le Pen doing it just to shake things up, siding with your enemy's enemy. It did cause signifcant revision to his policy on election though. Maybe not for the best, judging by things now, it was change all the same. The lesson is, find people symathetic to your feelings of political injustice and make a temporary union, if you feel you are being politically shafted and ignored at the same time. For example, politically expediant house price inflation in society has been talked about by many other groups in the media beyond ordinary working folk, or at least it could be introduced to them. The anti-globilisation movement, the socialist party, Voice, Scope, the Muslim Council of Britain, The anarchist party, the communist party, the National Front Party, probably alot more. They are organised, looking for causes, some have already sited house prices as damaging to their causes. You could provide a wealth of information to them. They will stir things up for you if you feel politically disinfranchised. To directly tackle protest and political communication here would undermine the spirit of hpc.co.uk. It's better tackled by other such channels. Boomer
  10. hi, In a global economy it is difficult to see how a company could absorb such costs. Alot like the pension scheme commitments that many firms used to provide in the past but then found out it was making them uncompetitive, so were dropped without warning. If that is your only way, consider it. You will definitely loose out mind on having control of your own tax affairs. most company benefits get taxed at income tax rates now. If this doesn't, then I'm guessing it is a loophole. Gordon has a track record of closing loopholes as soon as he sees them. The Inland Revenue really clamped down on 'income-in-kind' a while back. If you don't get hit for tax now, you will later on. It is better to get the ball back in your own court, get the money instead of the benefit and employ your own accountant to work out your own individual tax affairs. you will be alot better off in the long run. You know the saying, "the only things you can't avoid in life is death and taxes". Boomer
  11. Hi, Yes, admittedly, I too have been out for the evening and had one too many beers. Not a good time to sit at the keyboard EXCEPT. This last week has seen an incredible number of bored EA's and late-to-the-scene BTL folk starting very silly threads. Come on, do you think peops are that stupid?!?! "Hi, yes, I am a newbie bear but really I don't think there is a crash despite all the little pieces burried amogst the stats that suggest there is. Even if the corrupt and dodgy nationwide and halifax indices have admitted prices are likely to fall, even if the FT and Hometrack indices have been negative for a while. Even if the economy is running on thin air, no, no, no. La la la I can't hear you! Just be a good little surf and let me leverage all this debt onto you. Don't think for youself! Honestly! It's like those nigerian investment bankers who email me every so often offering incredible investment opportunuites. Please, for jasus sake, ADD SOMETHING TO THE DEBATE! Don't just say, 'oh, it's different this time, there is a new economic reality, blah, blah, blah" Go on, get some links and analysis, get something that can be discussed and we will have a look at it. Otherwise, stop wasting time! Ok, I am off to the bathroom now with a good book and a mug of tea. Awoooga boomer
  12. Hi, Who says there isn't a full crash under the surface already? Rightrack and FT index have been showing monthly falls for over a year now. If we can believe the indices at all. Are you basing it on the nationwide and Halifax? Indices that only take a very small number of properties that they choose to include in their surveys, that they don't lay open their methods and mechanics for public inspection, that they don't allow to be independently monitored? That they reported as positive well into the last crash (check the old articles on the site for previous crashes). Whoose indices are all but fallen to zero in a year, if you can believe them, who have also said they may go negative soon? Well, believe it or not, there are people in the world who want to extract cash from you! There are people who would leave you high and dry to line their own pockets and sleep very well thank you very much at night, knowing they are going to financially smash you into the ground. Gasp! Yes, it's true! Why have housing volumes increased as prices have stalled, or maybe fallen, depending where you are? Because some sellers are clinging onto past glory's of a bubble height. Things have changed except the irrational clinging to that freak price one quarter 2 years ago. So things aren't selling. The clock is ticking. the asset is falling, the market is idle, the costs are escalating for them. Boomer
  13. Hi, Why is the 16% rates thing so widely misquoted. I remember that crash well. The rates spiked due to currency speculators attacking the pound in late 1992. Infact, the property market was already in deep decline by that stage, it was like two crashes in one, the stagnation and drops between late 1989 and 1992, followed by a nail in the coffin and bigger drops in late 1992. Partly because speculators sensed the UK economy was in trouble at a time it was trying to maintain a falling exchange rate, so they attacked it. And we had alot of gold reserves back then to defend the pound. Sound familiar? The property market was well in decline by late 1992, it was even showing up in the dodgy Nationwide and Halifax indices before the big interest rate spikes. Go and read the FT and economist articles from that era if you don't remember. Boomer
  14. Hi, Call me cycnical but .... The last week has seen a zillion percent increase of 'Mr Newbie' poster, touting off the usual EA stuff, new economic miracle, everything fine,. etc., in fact in many ways worse, since the line is becoming "well, yes, you may make a 10% loss, but it's not so bad, blah, blah". AWWWWWWWWWWOOOOGA I said it would get alot worse. The VI spin will go momumental now. The estate agencies are quiet, idle hands and the devils work etc., Notice this is the week after both the uber-bull socities, Nationwide and Halifax, have become bearish about the prospects of some actually reported falls coming through in thier figures sometime next year. If someone comes up with a decent point, great debate it, I want it, I want those articles and links!! If it's just an EA check list of 'prices always go up, new economic reality", just awwwoooga for jasus sakes. Boomer
  15. Awooooooooooooooooooooooooggggggggggggaaaaaaaaaa!!!!!!!!!!!!!!!!!!!
  16. Hi right_freds_dead, I've lived through crashes before, this one feels no different. I can understand frustration at the situation, mostly a politically generated issue to be honest over the past few years that has gone beyond a normal market top but really, look at all other crashes, they just don't happen in a few months or a year. It is a few years to go. For me, the economics and ancedotals are really what the site is about, beyond that, I am not so sure. And you either detach your heart from the day to day stuff or you're going to get really fecked off because make no mistake, the spin is going to get much more intense over the coming six months. The VI's HAVE to convince you that the stagnation is not the result of the market top coming through but something else. Look at the old press releases for the past two crashes, it was exactly the same, market stagnating, set to rise next year, blah, blah. Britiain's recent 'ecomonic miracle' was based on private and public sector debt, as spelt out countless times. The consumer debt is collossal and has run out, hence why industry is in malaise, bankruptcies and repocessions rising, high street sales down, economic growth slumping and with Brown's EU budget commitments, the last remaining petrol-can on the hyper inflation housing market, public spending, has already started to get cut. He has to get the budget defecit and trade defecit back in balance within the next 12-24 months. Pretty impossible without big cuts in public spending and rises in interest rates. Don't take my word, checkout the recent commentaries by the CBI, OECD and IMF. Look with your own eyes regularly at estate agent windows and web sites. You will see properties on the market for 6,12,18 months, coming on and off at lower prices. In my area this week alone, SW15, there has been a deluge of studios and 1 bed flats (BTL favourites) on findaproperty.co.uk. I mean, literally, quadrupled between this week and last. All down near the University and Hospital, student renter land. At a time when similar properties have been sitting unsold, after price drops, for upto 18 months in some cases. I can't speak for other areas but it is happening here for sure. That said, it is natural and human to wish to express a voice in the public arena. Make no mistake, this was a nutural cycle that got hyjacked by politicans. The big two BTL landlords, Blair and Brown, based their reelection on promising ever increasing HPI, with some SIPPS thrown in, to the largest voting group, the baby boomer generation (me! Yes, I know, sorry), the very ones who lost bigtime under the NuLab pensions fiasco some years ago, when many people lost their pension pots. There is some just cause, for the borderline political NULab corruption, to be honest. I don't think anyone can blame you for feeling some sickness at it all. The recent french rioting was mostly based on one group of society feeling that a political system was biased against them economically, exluding them at the political expense of other groups. HPC.co.uk is really not the right avenue for that kind of expression, maybe. Have you considered other routes though? There is the saying, 'Your enemy's enemy is your friend'. To illustrate : In 2002, in France again, Jean-Marie Le Pen, the Nationalist Front Party leader (extreme far right with some pretty unpleasant views), came second in the presedential elections. In a low voter turn out, he grabbed around 20% of the vote and, under the French voting system, that infact put him head-to-head with Chirac in his reeelection campaign. That was the first round of voting, the next and final round of voting requires the electorate to choose between one or the other of the leading two. Le Pen was a whisker from getting election to the top job, something that shocked the nation at that time. Of course, he never was going to get in. It was a protest vote against the current president. There was stories in the media at the time of people who would never consider voting Le Pen doing it just to shake things up, siding with your enemy's enemy. It did cause signifcant revision to his policy on election though. Maybe not for the best, judging by things now, it was change all the same. The lesson is, find people symathetic to your feelings of political injustice and make a temporary union, if you feel you are being politically shafted and ignored at the same time. For example, politically expediant house price inflation in society has been talked about by many other groups in the media beyond ordinary working folk, or at least it could be introduced to them. The anti-globilisation movement, the socialist party, Voice, Scope, the Muslim Council of Britain, The anarchist party, the communist party, the National Front Party, probably alot more. They are organised, looking for causes, some have already sited house prices as damaging to their causes. You could provide a wealth of information to them. They will stir things up for you if you feel politically disinfranchised. To directly tackle protest and political communication here would undermine the spirit of hpc.co.uk. It's better tackled by other such channels. Boomer
  17. Hi, Yes, its very logical. People will be rushing to sell their properties because of that few hundred quid for sellers packs. Quick! Quick! I am worried about a few extra hundred quid to fork out on a seller's pack when it's going to cost me another hundred grand or two to trade up. Must move quickly to avoid the dealine.
  18. Hi, Ouch indeed! Listen to another thread from another poster there. Terrible, terrible, terrible. House price inflation, pyramid schemes, fools gold economics, always ends in tears. Negative equity, lifelong debt, destruction of communities and family life, destruction of business and industry. Destroys economies, destroys peoples dreams. Tut, tut Mr Gordon Brown. Shame on you Kirsty Allsop.
  19. Hi PG, So, property prices go up as well as down? And as I remember, it was quite difficult to rent property out back then, "when you shouldn't have sold", becuase BTL mortgages were quite rare. You really had to write a strong letter to the bank saying that you were facing financial ruin unless you could do it. So has property investment always been your primary business? Just because, gasp, believe it or not, many people are not really interested in property, they just want somewhere to live so they can concentrate on other ways to earn a living. They are not playing the market as landladies and speculators. That is when they get caught offguard by the whole cycle thing. You got away lighlty with a 10% hit on that second property. Back in that crash, by around 1993-94 there were stories of people making 50-60% losses on homes. Getting repocessed, having the bank sell at the auction rooms to investors for a fraction of the mortgage value, leaving that debt over their heads to still payoff years later while they rented or paid a higher second mortgage rate with their credit history distroyed. Yes, it is not pretty but prices go up and they can come down. Make your own mind up where we are now, if you see it as a risk or not. this time around the market has far more speculators, far higher streched values. This site is about your only discenting voice to consider. Boomer
  20. Hi, Ok, you seem much more reasonable in this post. The previous one was taunting in a playground style. Just catching your point about balance on the site. This is one small site against a whole media biased against people. Just listen to scare tactics that appear as 'media stories' on the Telly and papers, lame, self-commissioned, reports saying "you're going to the workhouse soon sunshine unless you get that 200K studio flat now". I listen to all these reports and groan because you will never hear a headline on the news or mainstream saying "Hold on folks, there may be problems in the way things are at the moment, look at these economic figures ....." One little website with links against a whole fecking media industry hoping to put you in financial ruin if they can! Go read the press releases from the past crashes. Jackals! Do you want to believe the Nationwide and Halifax price rise figures when they pick and choose just a small number of properties to come up with their figures, that they will not lay open to public inspection or independent monitoring. Hell! They could say what they like. Do you want to believe this Government who allowed a pensions fiasco to evolve and ruin the savings of millions? The master stroke was to allow runaway housing inflation to distract those investors attention with the BTL project, they used it as a basis for reelection with the promise of SIPPS and ever increasing HPI to plug the pensions gap of this largest voting age group and make good their messups. So do you think people should not be sitting and thinking about things if the economy is very evidently not motoring as it was, if repocessions and bankruptcies are spiking, if there is a serious debt problem amonst both government and citizens? Do you encourage people to just rush in headlong, like the mortgage lenders, estate agents and whole slanted media wants them to? So, if you have been buying and selling houses for 25 years, you, like me, will remember two other great booms and catastophic busts. Can you tell me how you think it will be different this time? In what ways can you reassure those folk that the massive up slope they are standing on is not about to collapse? Because that is how you will have made your biggest gains in the past, by selling on property to the unwary at the peak, or buying low. What was your experiences of the last crashes? Did it wipe you out? Did you trade well? And again, don't you feel that the overall information bombarding buyers now in the media is completely positive, never even entertaining the idea of "stop, think, this is a big decision"? Boomer
  21. Hi, Difficult to say, the public sector - private sector partnership can work quite well. France and Germany do it quite successfully. The french private-public sector approach has been phenominal in creating world class industries in technology, aerospace, satelitte communications, renewable energy and media. Germany is still the world's largest exporter nation, a viable financial competitor in some areas to the square mile. They can keep public utilities running efficiently, they haven't had anywhere near the HPI of the UK. Canada, well Canada runs healthy trade surpluses, has the highest standard of living title for a few years now. It can be done. Sure, there are prblems in all those nations, I am talking in general terms about visible success' of private-public partnerships. I really don't know where Gordon is going with his policy though. We are not producing the same results or anywhere near the level of public sector efficiency and success of those nations in those areas. Still, let's see. He is not coming forward with any rabbits from the hat at the mo., and he has some big issues to resolve. And Alistair Cambell isn't on the scene anymore to bail him out. I don't sit on the fence, I have lived through three crashes before, this one is really damaging the economy as well. Boomer
  22. Hi, What's your angle? Why are you concerned with these folk? Doesn't that mean more bargains for you? Wouldn't your best policy be to say 'no, don't buy! It's all true! Stay renting! Wouldn't that mean more competition for your London Landlady properties? Higher rents? More tenants? Why are you doing the opposite? (Just out of interest).
  23. Hi, Yes, absolutley. I think I did post my case here before, way back in the mists of time. I am a partner in a software and communications technology developer. We have won several awards for inovation in the past. However, over the past three years we have moved most of the operations between Canada and Germany. Britain has become a very expensive place to run business, or at least business that is not in the square mile or business that involves buying and selling houses to your fellow citizens. For our part, it is nigh on impossible to retain key staff for lengthy periods due to the costs of living - standard of living combinations. It is a very competitive market place, Canada and Germany make it viable. It's either that or let a viable business get trampled by a hyper-inflation economy (housing HPI drives alot of costs directly and indirectly). My point is, with the current level of ***gasp*** 1.2 trillion consumer debt, 30 billion fiscal AND trade debts, the economy needs engine growth NOW. Not a hypethetical point 5 or ten years down the line. NOW. Unless Gordon plans to toddle off the the International Monetary Fund again like in the 70's, cap in hand, to bail UK plc out. Sitting on the fence has been the UK approach to the single currency. That it not the same thing as the stability pact. We are signed up for that. We have to maintain the rules or leave. Gordon resigned it in March. He has roughly twelve months to get some money in now or start massively cutting back public sector spending and reduce the trade defecit. So, I cannot see how the public spending argument the EA's and VI's are trying to spin at the mo. can be a reality unless we remove ourselves from the stability pact (the EU itself) or get these new sources of economic engine in the next 12-24 months, at the back end of Gordon's revised timescale for balanced budgets. Boomer
  24. Hi, So, in the absence of a massive economic boom about to happen now to finance it, we are about to break away from the EU over the next few years? Boomer
  25. Hi, I really don't like to engage in the class debates because for one, having experience and feet in other nations during my life and career, the particular slant of it in Britain is quite different to the way it is discussed in other places around the world. It disinterests me to the extent that I just can't be bothered with it in the British context, I really don't wish to play the "game" of it all. I do really agree with your point though. When the mass of people wake up to the current situation, the man on the street may not be a happy bunny in the next few years. Boomer
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