Roman Roady

In a country that is fighting 2 wars, all he thinks of 100% of the time is the credit crunch???? Nice!

Once upon a time on this site in what now seems a very long time ago (probably 6 months), we used to say that once the HPC was on the front page of the Sun it was a sign that it had arrived. Well now ladies and gentlemen, we have the 'mainstream moment'. Even the bluntest of tools in the UK's tool box now know what is happening...in one way or another. Like a pack of dogs we can all smell fear...and the meejya can now smell weakness. Game on (end game)! Brown/Darling/Madelson couldn't even do us the honour of revealing this at the Chancellors speech...they leaked it yet again. Spin spin spin up to the end.

The same as we have had for the past 11 years...all froth from the cappuccino party. Lots of sound bites etc for the media but when all is said and done...nothing of any substance.

All seems to be the same as what Brown and Darling are doing over here. All smoke and mirrors to fool the masses. When the ballon goes up, they will say @at least we tried'.

Great crash 2 By the way, having been a member for over 2 years, I nominate the originator of that one for the HPC Nostradamus award.

Arent the banks private organisations...how are the govt going to 'force' nationalization on them...force all the pension funds to sell shares at a fixed lower price? (assuming that the share holders are all british of-course.) The banks will simply say that the bailouts were to save the government, not the banks...then deliver the ultimatum, make us bankrupt if you dare!

How about letting the free market adjust itself? Intervention, intervention, intervention.

why has it dived?

They are running out of bullets when it comes to monetary controls (interest rates) Why do you think brown is going on and on about tax cuts (Fiscal)...its all he really has left End game is on the horizon. Also consider what this recklessness is going to do to the pound...who is going to lend to a basket case debtor country that doesn't give a hoot about the state of its currency. Then ask how will brown go on his spending spree. The debt has been passed on from banks to state. This is why he wants 'global' action, so all our possible compeditors free fall with us. However if some of them do an 'Angella Merkle' and break ranks, all hell will break loose.

It seems that the main question is 'can money be printed quicker than it is being destroyed?' If yes, inflation stays positive, If no, DEFLATION.

50k Now worth 280 ish...if lucky in these difficult times

I think we apportion too much creedance to the influence of Governments in this brave new world we have created. We are talking trillions here. I for one am enjoying watching Brown slowly go under. PMQ's yesterday was great. At the end of the day, we have the CBs running out of ammo, and the bad news keeps on coming. They are like holiday makers on the beach in Cornwall, desperately hoping for a break in the weather, as yet another rain cloud comes over he horizon. We have become a nation of salesmen (con men) with unbounded and unfounded optimism and we think that saying the right thing in the right place to the right people is going to save us from impending reality. Aint it a beatch!

RE the BBC, this morning the presenters seemed to be surprised that house prices have fallen again. Is this deliberate spin or are Bill Turnbull and that other woman that looks like Gok Wan terminally stoopid?

I'm a bit perplexed by the Govts approach here...duality, hypocrisy??? On one hand they say that the billions given to the banks could turn a profit when the banks get back on their feet again. In other words the shares bought with our money will be sold at a profit. This means that the banks will be operating a business model that results in a profit still. Then they say that they are going to make the lending criteria of 2007 come back again....which caused all of the fuss in the first place. Besides, the Govt isn't a major share holder of any of them are they? So how exactly is this all going to work?

Thats the point i'm making, the agent didn't pass the info on. The guy wouldn't have moved in had he known what with the possible impact on a credit rating against the address etc. He would have certainly asked for a reduction in rent. Don't forget that when you are asked to go through the clearance processes (to work with kids etc) they want several years worth of addresses.

Thats one way to f**k an economy i suppose. Ditto the value of the currency as i would think.

will they go beneath 0%...if so do theBoE pay the banks to lend?...erm sorry thats already happening IN THESE DIFFICULT TIMES in response to the GLOBAL CRISIS that STARTED IN TH US. Must be the RIGHT THING TO DO!

As the title says, a friend of the family who rents found out about the last tenants illegal business side line after he moved in this year...growing drugs! Police arrests, court case and the guy responsible in jail. Letting agent acted as witness for the defense. Only when my friend moved in did he hear about it all, third hand. My question is simply, should the details of what happened been disclosed by the letting agents? They were the company who let it out to the previous perp. Any advice welcome. Thanks in advance. RR

Eve are you a patient person? If so, let them play the waiting game. The dam is going to break soon and the likes of HBOS will be swept downstream with that kind of thinking. The individual who made that decision is probably under 35 and doesn't quite get the fact that a house is only worth what someone is prepared/able to pay. Houses only ever go up in value...remember that

Come to think of it, if we are in for some serious inflation over the next few years, why not get an interest only? In 25 years, who will care if you haven't payed off the then equivalent of 3k today...but if we have deflation, totally different story. Perhaps the banks know something that the ret of us are only speculating about??

Surely with their assets falling in price rapidly, the banks will want to liquidate any house THEY own as soon as the mortgagee seems to be the least bit stressed. Why wait? When repossession does happen the bank will be getting less the longer they hold back.

Before you play ANY game, you need to know the rules. Once you are fully clued up, game on! This one, the short sellers lost...they were the suckers and a good thing to see!!!! The hula baloo over the shorting of the banks a month ago just pi**ed me off. If the Banks had been in good shape then this would have happened back then. The financial world and govts have been happy to let the short sellers play around as long as it suited, however when play went against them the British Govt took their bat home. We either have short sellers or we dont. If we do, let them ply their risky trade and accept them as the environment in which we operate, with all the risks that that brings. If our house is in order, they will get burnt too and things even up a bit.

Excuse my rudimentary economic understanding (mostly gained here by the way), but when we talk of 'hitting the print button' in reference to creating more money out of thin air we are actually talking about the reduction of interest rates...yes? When a CB lowers interest rates it is making debt/credit more available to the banks which in turn make it more available to us the great un-washed. In-fact this is how we have ended up in this position. So the banks losses have been taken on by Governments, who have had to borrow massively to do so and...as a result the currencies of these governments has to a greater or lesser degree fallen in value. Because we had to do a massive bail out on our own reckless banks our currency has understandably gone down in value...thems are the breaks. It strikes me that the VERY LAST THING to do is to drop IR, the GBP will fall further thus making just about everything more expensive. At the end of the day, which ever way you cut it, debt means owing some form of wealth to someone else. UK PLC is in massive debt, and some one is owed big time. Its not going to go away no matter how we twist and turn, it will crop up in one way or another.

Excuse my ignorance all...but where exactly IS Brown planning to borrow from?

What? Do Mandy and Gordon not get on then?