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House Price Crash Forum


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About newjez

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  1. With rates rising in China - recession in US and Europe - it looks like a perfect storm. 2012 looks to be more exciting than 2011.
  2. Afganistan? I guess in some ways the US states are similar to the little Eurozone countries.
  3. Sorry - bit lost here - Gordon Brown was repealling US acts of legislation?
  4. Northern Rock may have been the first major victim of the crisis. But if you think it started in the UK, then you're wrong. The US market peaked in 2006, and then everything started to go pear shaped. But when did the crisis start ? Way way before this. Probably as the dot com boom went bust was when it really started to gear up. Do you seriously expect people to believe that Gordon Brown was responsible for the whole financial crisis? Or even for the UK's part of the crisis? At best he had a walk on part.
  5. But it did start in America ??? And although there were lots of people who did see it coming, nobody did anything about it. As far as I can see - Brown should have restricted mortgage lending to the same degree that it is now. But that hasn't been restricted by the Tories. That has been enforced on the banks themselves because they are worried they will loose money if there is a crash in the housing market. What have the Tories done to prevent this happening again? Sod all. What are they going to do? Sod all. In fact - where else in the world have restrictions been place to stop this happening again?
  6. I know it's Easter - but you don't need to crucify the bloke. To be fair, I don't think things would have been different had we a Tory Govt. And while things do look bad now, they could have been much much worse. I think the global crisis could have resulted in soup kitchens on British high streets if things had gone as bad as they could have. We faced a crisis which was as bad if not worse than the 30's depression, and we're not doing that badly. There is pain, but we are ok. Compare our situation to most non Asian economies - and we are not doing that badly. Give it ten years, and I don't think Brown will be made a saint, but I think he will be forgiven.
  7. Inflation still running hi in China http://www.theaustralian.com.au/business/markets/chinas-inflation-heats-up-to-54pc-in-march/story-e6frg926-1226039777889 CLOUDS have darkened over the Chinese economy with inflation running faster than expected, hitting 5.4 per cent last month, while Beijings efforts to cool booming growth appear to not work as well as expected. This has bolstered expectations of further interest rate rises and other measures to tighten monetary policy as the Communist Party leadership attempts to wrestle with the conflicting problems China’s growth eased slightly to 9.7 per cent for the first quarter of the year, down from 9.8 per cent in the last quarter of 2010, but higher than market expectations. The government has been making a concerted effort to cool the economy primarily through a range of policy initiatives to curb the country’s galloping property market. "The national economy had a good beginning with steady and relatively fast growth," said Chinese National Bureau of Statistics spokesman Sheng Laiyun said.
  8. I think Jesus set up a complex derivatives scheme - where the one fish was re sold repeatedly, based on the secure backing that there were plenty more fish in the sea, and an oversupply of demand that would under right fish prices for the forseable future.
  9. If tensions arose between China and the US, with China holding vast numbers of US debt, could the US default on their debt to China as an act of war?
  10. We'd love to move, but the money it would cost us would pay for a new kitchen, bathroom, a whacking great conservatory and probably enough change for a small car. Can I justify moving? No chance.
  11. Firstly - I have to say that being made redundant was the best thing that ever happened to me. I got out of a dead end job, with an awful company. There was a period of two months when I was in hell, but then I got a great job with a great company and I haven't looked back. (Plus I got the time to write my book) Firstly, sign on. Not all benefits are means tested - you may as well get what you can. You pay taxes - you deserve it. Secondly - try and find another job, because redundancy is soul destroying. Getting another job is the best way to restore your self esteme. The DSS can and will demand past back statements. I don't know how far they can go back, but I vaguely remember them going back 6 months with me. Any large cash extractions they will question, and take into consideration. They will know about your redundancy money also. So hiding money is fairly pointless. Should you rent a house so you can get housing benefit? Sort of depends on whether you can live with yourself. I guess you also have to ask yourself how stupid you would feel if you rented a house and they turned you down. Good luck with what you decide
  12. Is he talking about reducing the debt by 4 trillion? I didn't think that was possible, even over 12 years. Especially after saying he wants to increase it be 2 trillion? Surely he is just talking about reducing the deficit by 4 trillion over 12 years, 300 billion a year? May is going to be an interesting month.
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