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House Price Crash Forum


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Everything posted by onesmallstep

  1. you have to consider the reason why interest rates are so low and the effect that reason will have on house prices. let me explain, the economy is ******ed and will be for decades to come, the deficit is chugging along nicely and unlikely to reduce, we have a huge tax bill and imperialistic wars to fight. interest rates at effectively zero have completely failed to revive the economy, the deficit reduction plan is screwed. the end result will be a lower cost of living whether anyone wants it or not.
  2. ...that's complete twaddle. Cameron is talking ******** - create a society where people other than millionaires can afford to have kids. It's called being responsible.
  3. haha typical tory/right wing crap. It is a human right to have kids, tough, make the system serve the people not the other way around. wealth redistribution is the only way, tax Cameron until he leaves the country. tax the billionaires until they leave, who cares, the kids are the future not the miserable old buggers counting their money.
  4. its only a good thing if you are doing the right things.
  5. No it isn't because we won't be able to compete. The worlds wealth is a zero sum game we are sat on our arses while they are long gone. Now imagine a small manufacturer against a multinational corporation, economies of scale and all that, the small company will soon go out of business unless it produces something special. Don't forget, they probably have shed loads of natural resources to fall back on whereas... We had the I.P. lead 40 years ago now we are followers and as such are destined to be slaves.
  6. right, now here lies the difference between you and I, I think we are the same age by the way. anyway, I didn't leave school at 16 I did A-Levels and a degree in engineering. you see in my view under Maggie, people such as yourself did do a whole lot better than people like me. Now obviously I am biased, but you will probably consider my education a waste of money, I can however assure you it was extremely hard work. So... I am extremely bitter about this era, Maggie gave money away to the working class and gave money away to the rich by selling everything and cutting everything she could lay her hands on, I lost out by getting what I consider to be a useful education. Maggie destroyed what was a huge manufacturing infrastructure, yes there were the unions, yes there were bad designs, but these problems were not insurmountable with out a bit of investment and a bit of decent management rather than the war we effectively had. The Germans and French with their 'fantastic' engineering prowess have stormed ahead of us while we just passed money around between ourselves making an easy buck on the back of someone elses debt. Doesn't look so clever now though does it? Where exactly are all these fantastic efficient businesses and services that Maggie was doing it all for? You can't blame it all on the last 13 years, if you had it so good in the eighties it wasn't resulting from anything constructive was it. As for the glorious Major economy that labour inherited and supposedly ruined, wasn't that just the mid stages of the great debt laden expansion? Yes labour carried on borrowing with a vengeance, but really they just carried on the Tory plan for the most part and then the bubble burst. So here we are now, a tiny spec on the world economy yet we are happy to act as world policemen and generally telling everyone else what to do.
  7. Stumbled across this thread while looking at pictures of the new Indian F1 track. OMG 1$ trillion and counting, this country doesn't even realize what it's up against, it's pathetic. still let's hope house prices drop heh.
  8. well they do do the occasional decent drama and cover the F1
  9. hello, this is all very true, but may I ask why your avatar and why do you revere the great Thatcher and Major years? Did you live through those years? I did and as a trained member of the engineering work force, I can tell you it was an extremely scary experience. I am not defending New Labour at all, just pointing out that in my experience all the 3 main parties are essential the same, just looking out for their tribal comrades. Meanwhile they destroy the economy at a faster rate than the poor souls working in it can build it up.
  10. why do people care what the BBC say, they are just a bunch of parrots anyway. Flanders manages to sound educated and informed while spouting random crap. There are plenty of people who know the way this is heading and know the solution, the solution is not going to found by politicians, that is for sure. Actually the politicians may know the way this heading as well or at least beginning to get an inkling, but they can't implement the solution, until they are forced to.
  11. no it doesn't because it encourages reckless borrowing and state dependency which is unsustainable. the benefit system is the major cause of our woes, that and a distorted distribution of wealth.
  12. there is only one reason why interest rates are low at the moment... absolute blind desperation to get the economy growing and to save the banks. the reason the sovereign borrowing rates are low, although not that low given the bank rate, is the short term nature of the markets. It's called pass the parcel just hope the music never stops, a bit like the original melt down Actually the latest IMF ******** is mega bad news for Osbourne et al, even though it has been presented as good news somehow. the debt and deficit are going to remain huge.
  13. oh do come on... they are all as ridiculously wrong as each other, how can anyone respect anything the IMF has to say, let alone a load of respected economists, none of them have a clue, they are strutting around like call girls on the sidewalk. basically the economy is screwed, cut a bit, or maybe not, interests rates stay down or might go up, but whatever you do save the banks and the old boys club. *****ers the lot of the them
  14. this is all very fine, but it's going to take too long, we will be effectively back to farming long before the Chinese, but that is a long way off anyway. printing money doesn't work in the end, never will, devaluation only works if you have labour intensive jobs for people to do and no other hangers on. China et al represent nearly 3 billion people I suspect, the US represents about 310 million how is that going to work then? what is the per capita average income or GDP production of these populations? The data is out there and the 'et als' have 10 times as much slack to take up as the US. Asia is where it's at and they really don't like the IMF. tbh your post contradicts itself and expects way too much change too soon, they are not going to raise interest rates until there is real growth in the economy, inflation will slow down if the economy doesn't grow and if it does rise when the economy is not growing, it will not be reduced by raising interest rates. you are correct in that we as a nation have to work harder, earn less and have less, but this is such a deep cultural change that it will take either a massive event like a world war or natural disaster to occur quickly, other wise it will take decades.
  15. I am beginning to think that the real problem is distribution of wealth, may be I'm a bit slow, I don't know...
  16. they haven't got a clue, Greece is on it's way to be the manufacturing super power of europe making... err.. um.. something... ...... ice cream maybe
  17. well it's all ready happened to a certain extent, as you say the austerity can only get worse without miracle growth and you have a point that the more they are taxed the more they will avoid being taxed. But if they default then German and French banks collapse and so do their economies, I suppose the default will come when the banks become sufficiently strong to soak it up. I don't know how long that will take though and it's the banks customers who will be providing the funds.
  18. they have to save the banks that's all. unless there is a 180deg reversal of policy which won't happen with current club in control. the real question is how much money can they muster or print. actually assuming the Greeks et al never manage to run a surplus, we are probably looking at extreme political swings in the end.
  19. unfortunately this is a common misconception born out of people trying to apply a mathematical definition to it in order to quantify it. oh and the owners probably didn't want to throw it away, it probably broke or went off...
  20. wealth needs to have high entropy for the system to exist, at the moment it is very restricted and will lead to an intolerable imbalance. I think this is very relevant as it highlights the problem with our economic system and with the eurozone, things have to be allowed to take their natural positions and be unconstrained. (I could also include the housing market) the universe, which is not relevant to this, will always increase in entropy, human life represents reducing entropy, conclude from this what you will. the sun will explode, not wind down
  21. I think you'll find as the report states, most of the 'wealth' 'created' during the last few decades is currently in land fill sites and has thus been destroyed, unless of course land fill sites are the purpose of the human race. In fact as the report probably also states, it is worse than that because we owe a lot more than just the original capital (or wealth in what ever terms you define it) Entropy is a very good way of defining our whole economic system or at least the way TPTB view it, unfortunately they take a far too localized view, they want high entropy but only on their terms, which obviously cannot happen. The economic system can only work if it has high entropy, however they are restricting it's entropy by applying constraints, i.e. bailing out the banks and bailing out countries.
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