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House Price Crash Forum


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Posts posted by OnlyMe

  1. If I hire you to sell my car for me and you sell it to a friend for less than it's worth and pocket the difference then you've committed fraud.

    There may be no bank rules to break, but if traders operated against their customer best interests then it would certainly be fraud and they would be liable for any losses.

    This is one of those scandals that has a chance of spinning out of control.

    If a test case goes through and the banks lose they could face possibly paying out compensation for every currency transaction in the last decade.

    Yes, there are balnket laws to cover almost everything. Earlier law in particualr was written well, easy to understand and clear to carry out.

    The only thing missing is a willingness to use the law against fraudsters. Too many have had a free pass in gaming the market and the economy and still do.

  2. This is becoming true in IT too. The best are supposed to contribute to open source projects etc. I simply don't have the time or inclination.

    I have sympathy for journalists but it is tempered by the disdain that they showed manual labourers and the manufacturing industry in the last 40 years as they were removed from the economy by 'Market forces'

    Not much sympathy here either, by and large they spent the last deacdes pedalling all sorts of dubious practices for and on behalf of government/the banks/corporates and the wave is catching up with their skillsets. Actually not sure what skillset is required to re-peddle spoon fed propaganda / thinly veiled advertisements. Surprised it hasn;t happened earlier. Only the language barrier preserved their jobs from the migrant labour onslaught.

  3. Time to top up the QE crack pipe again - though clearly the junkie needs a bigger hit this time around, since we're seeing previous doses wear off quicker and quicker.

    The thick layer of inflation gob is weighing heavier and heavier on the real consumption base. Lots of poeple I meet nowadays comment on costs, others their business is really suffering from cheaper foreign labour alternatives as more and more "careers" and skillsets get commoditised.

    100% incorrect long term economic strategy, all for the benefit of short term so the current participants can leave the exits with their pockets full.

  4. link

    Keep on arguing about houses and glaze over the more onerous fact that energy companies are abusing you more blatantly than the banks.

    Don't think that is quite right - at least the energy companues are providing something, the banks do not have the money they lend out, they make us as much as they can to strangle your finances and embellish theirs until the point of collapse, then the go squealing to governmetn to steal some more to fill the holes in their accounts.

    Also monteary policy, devaluation and governmen/central bank mismanadement are largely reposnsible for crashed sterling and increased imported enegery costs.

  5. I absolutely believe this to be happening. In fact this has been going on for some time but during the 'boom' years it was ignored.

    All during the boom years it was positively encouraged by the bankking fraudsters. That way all the fiddling and lying could be done at arms length - they got a wad of pre-fudged mortgage applications which they could package up and sell on and take a slice out, passing the shit onto another hapless party. thos other parties were largely being driven to mortgage debt due to increasing interference in rate setting rigging byt he central banks. The whole lot stank, still does and probably will inthe future the way things are looking.

  6. Do developers still only have to design garages that fit around a 1973 Fiat 127 supermini? The parking space outside my flat is very narrow. I'm no fatty but I struggle to get out of my Nissan Almera.

    Developers don't seem to realise how enormous cars have become over the last 40 years. Mainy due to the safety regulations. My Head of Department has a Peugeot 207 that is supposed to be a supermini (B segment car) but the proportions look enormous - about the same as my C segment Almera (Focus/Astra sized).

    It is not a case of not knowing car sizes, just liek the size of other rooms, garden size, driveway size they pack in as many as they ca get away with, they love regulation, as much as they bleat about building densities they are only too happy to peddle whatever shit they can get away with in what is laughably called a "detached" modern hosue nowadays.

  7. So if financial repression is the way it is - and it certainly seems to be the plan - and government is obsessed with not allowing a HPC, since house prices are "too big to fail" for the UK, then (forgive me) but why not just max out as much as possible on debt and mortgages? All of my instincts tell me that is stupid, but we seem to be in cuckoo land where everything is the opposite of what you know to be correct. Like when the first pilots hit the sound barrier and the only way to keep control was to reverse the control inputs. Based on another thread on here, it seems time to get a job in a charity, and wear my pants inside-out (that one's not from an HPC thread ;) )

    Just make sure you have as little skin in the game and don't pay it back. Those seem to be the rules nowadays and the way they want to run the system. Cerrtainly don;t do anything productive or anything that is likely to put your own finances at risk.

  8. http://www.bbc.co.uk/news/business-22545210

    Luckily the wealth divide didn't contribute to the depression.

    It is one of the very obvious indicators of a depression - one that started long ago, sponsored and abetted by govertments and their central banks with the corporate lobbies in tow.

    There are a lot of highly renumnerated liars out there, both enacting and peddling false economics for their own short term gain.

  9. Is it possible that the co-op has been chosen as the sacrificial lamb? I would imagine it is hated by both the government and all the other banks due to its 'ethical' stances. So Moody's is roped in to downgrade to junk and cause a run. Because it does look like this is the aim.

    The co-op says it has no more bad debts than any other bank and does not need a bailout, so why has this happened? Am I being a conspiracy theorist here?

    Well they pulled down Spain, Greece et al when it looked like the world had woken up to the rapidly diminishing value of the dollar, so I'd pt nothing past the operations of the ratings agencies.

    Entirely arbitrary during the bubble - triple A everything, no reason why they should be taken notice of now - they look and act like a bunch of scam artists.

  10. Look at the dates. Peaked 2004, well before the market peak and 2008, about the same time as rampant BTLerism started taking off.

    Hence fall in DIY - you are not going to spend the same money on doing up someone elses place, especially if you have no security of tenure and most lanlords couldn;t give a stuff about the interior decor as long as the proporty is let - so minimum spend.

  11. Pretty much everything in that article is completely wrong. Money is not credit, so that's the first point destroyed. Zero percent interest rates make very low stock yields viable investments, there goes number two. Price of oil takes care of number three. The price of oil has increased from about 30 dollars per barrel before money printing to whatever it is now, number four. Printing money is the very definition of debasement which takes care of the last of the author's misconceptions.

    Not misconceptions, the same bought off press that peddled nafta and free trade, ARM mortgages, debt and all the destruction that went with it and sold it as as positive news.

  12. ^ this. Fill your boots.

    No-one owes your fully insured savings deposit a single brown penny in interest. Once upon a time this was understood (at least in the US), back in the '30s, and insured current accounts were not allowed to earn any interest, BY LAW.

    The future will shortly teach you, as RK and others pointed out above, that deferral of consumption even at 0% real return is not a right or even the natural state of the world.

    High time people like you got taught a proper lesson because it's your lot that are ultimately responsible not only for this raging depression, but also in the final analysis for most of the bias towards speculation and gaming that you are banging on about from your soapbox.

    For 40 years central banks have made sure that savers pretty much got a positive rate of real return no matter what*, and this is the reason why the whole world has debt stuffed into its every orifice.

    * In the century preceding that, real rates were very regularly negative.

    You've got it all round the wrong way.

    Savers responsible for pushing nearly the whole of the manufacturing workforce abroad - not a chance in hell - that'll be the bankers playing games with the economy to enhave their bonuses and egos and as a result making this country (and others) woefully uncompetitive and an expensive, shite plave to do competitive business.

    My plans for investing in this country are finished - I'm not pissing away what should be investment and profit into expensive floorspace (other than housing to house me and my family). the work will be sent abroad andthat is it decision made and sealed with the latest rounds of QE and manipulation.

  13. I work regularly at a central London institution.

    They have been offered insane money to leave their premises. (Loft development company).

    They have taken it.

    I and maybe 20 others will lose work because of it.

    They are seriously considering a move to Stratford for ******s sake.....

    I'm hearing other such places are rolling over for the insane cash being waved about.

    this is effectively waht happened to many manufacturing companies up and down the country.

    Brownfield re-developed plot of land would pay for all redundancy costs, cost of new facilities in another country, new equipment, the lot.

  14. The costed recipes in the BBC article are contrived, particularly if a single person tried to do it.

    For example:

    1/4 red/yellow pepper. (6p worth) £1.51 for 6 Sainsburys.

    A fresh pepper will not last for more than about 4 days even in a fridge. So if you used 4 1/4ths over 4 days, you would be throwing out 5 unused mushy peppers. So costed properly, those peppers would cost 38p a day, including the wasted ones.

    Remember that the Government is telling people they can live cheaply on benefits, and also criticising people for wasting food and throwing it away. The BBC figures understate how much food costs foor single people.

    Of course, one can buy single peppers, but you do not then enjoy quantity discounts, so it is still more expensive/


    80p for single pepper. The rest is ******** too.

  15. My car got written off by a third party last week so I was in the market to buy. The insurance assessor paid out £3060 based on forecourt value on an 04 plate fiesta.

    Indeed I found 04 plate Corsas, Fiestas etc. on at around 3K on the forecourt. Smaller older cars can go for even more because of zero tax and 60 as oposed to 40mpg.

    The new car prices were as I have quoted...Fabia £8999, Alto £5750 and Peugeot £7690* at Pentagon, Derby (Peugeot) and Clock Garage, Spondon, Derby (Fabia and Alto).

    I settled for a 12 plate 107 at £5999. comparable 107s with a 05 plate are £3500.

    (*sorry I originally did a typo on the Peugeot price)

    You did well on the write-off value. With those numbers agree, new nearly new is better bet on depreciation, which is bizarre. An 05 plate small engined car is going to cost more in repairs (plus no warranty period) and will probably have just a few hundred quid resale value.

  16. I'm still not seeing this as an example of new car dumping. The Peugeot 107 has always been a cheap car, this review from 2005 shows that prices start from £6995. http://www.carpages.co.uk/peugeot/peugeot-107-22-05-05.asp

    The 107 isn't in the same 'class' as the Fiesta or Corsa's, if you were comparing a 2004 Ford Ka with these prices you'd get a more realistic comparison.

    There's been a hell of a lot of inflation since 2005. Car prices went up with scrappage, and continued up as raw materials boomed, near £20k for some bog standard boxes with extras.

  17. Always has been; same with fish processing and a lot of other seasonal agricultural work.

    The migrants just come from further afield thses days.

    Itinerant workers were a mainstay of the economy in the past. Now we live in a society that is intolerant of travellers. Everyone must have a fixed address, so they can be enumerated and taxed.

    The furthest ones I met when woring on farms when a youngster were from Birmingham. :D

  18. Could it be that businesses have enough cash?

    They might be persuaded to give it up for lending if interest rates were better...

    Or no reason to invest as the reutrn will not be forthcoming (especially those that see their current trading just a reflection of cheap money).

    They are diverting the money elsewhere, very large sum from me is not going into business now and dedicated to a house purchase with lowest possible mortgage. The business itself will go abroad, no interst in doing it here now.

    The banks are taking the QE money and jsut using it to their advantage and propping their loan book related assets, manipualtion on a grand scale sanctioned and funded from the central bank.

    Invetment / expansion is far more expensive than it should be thanks to QE propping up factory/workshop space tht could be utilised but is no longer economic.

  19. A called ******** on Mervs claim (as many did) that FLS was partly intended to help business.

    It isn't, increased housing and commercial psace is almost entirely negative to most businesses. We have fraudsters running a gaming ring for the benefit of a few companies - land banking ones and screw the rest.

    Vive la bubble, BOE policy the same as it ever was - destroy business with high costs, skew the invetment table, indebt as many as possible to create their fake version of growth.

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