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House Price Crash Forum


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Everything posted by davidhpc

  1. The single debt as a % of GDP certainly doesn't tell the full story, particularly in the case of the UK with so much off balance sheet liability etc., I personally don't believe this government is allowing us to see the true picture either, I imagine it to be worse. There is also the 'gross' and 'net' debt picture to look at, a table from the economist attached and a link to an article. Alarms are sounding, not so much because of the position now, but because of the rapidly deteriorating state of the UK's debt and finances. http://www.economist.com/businessfinance/displaystory.cfm?story_id=13825211
  2. "The beleaguered Financial Services Authority also gave early indications that it proposes to apply to the Government to extend its regulatory powers to control buy-to-let mortgages, which were specifically excluded when the FSA first assumed responsibility for mortgage regulation in 2004. It also wants to take control and better regulate secured loans – second mortgage finance – which it sees, together with buy-to-let mortgages, as being part of the 'lax' lending that has contributed to the credit crunch." oh my word. on the ball with this one weren't they?
  3. I think the supermarkets are in it with Gordenron and the BOE and ONS etc. You suddenly see huge adjustments downwards in certain items for about a week, probably when the state employees are collecting data to calculate that month's inflation lies. Gordenron will promise lower interest rates for them as long as they help keep his CPI bull where it needs to be.
  4. don't tell me! public servant, 6-figure salary, big mortgage, getting a bit worried about the future?
  5. here's a piece from The Economist which might help throw a bit more light on the subject http://www.economist.com/businessfinance/displaystory.cfm?story_id=13825211
  6. "only frontline soldiers and people on less than £18,000 a year would still get rises." "proposed a freeze on the pay of government ministers and curbs on "excessive salaries at the top of Whitehall". " " vowed to cut the cost of Whitehall - proposing to slash departmental budgets by a third during the lifetime of Parliament" slashing greedy overpaid at the quangos too. Absolutely fantastic. Grovelling, snivelling Darling who has overseen much of the public sector greed tries to squawk out an announcement about freezing salaries of some of the overpaid. Didn't have the bottle to do it last week.
  7. good lord, they've got it. everyone just borrow as much as they can and spend it all and we'll all be OK. maybe if we borrow enough and spend the lot, we'll all be rich. they were right debt is wealth, debt is dandy. genius.
  8. King and chums at the BofE have got big taxpayer funded pensions and payoffs to worry about. He knows he will be out as soon as Gordenron and NuLiebour are brought down, therefore he has to keep Gordenron happy to extend his stay (and pension) as long as possible.
  9. a little boom might be gordenron's only hope for the next election.
  10. They're back! People are desperate to get another boom going... received via Rightmove yesterday.
  11. Also, don't forget Alistair and Gordon compounding the problem by encouraging those with decent LTV etc to switch lender.
  12. I'm sorry but that is just wrong. The bank will have a corresponding deposit to pay interest on for all those loans. Paying out 160 in interest and taking in 163.2 giving a profit of just 3.20.
  13. you buy another currency with it and spend that. either the UK is down in the other currency or another country is up in sterling. the UK is net down.
  14. so you've swapped currency with each other, so what?
  15. it acted as a currency exchange it is 1000 up in sterling and 1000 sterling worth of Euros down. whoever gave you the sterling is 1000 down.
  16. he exchanged the sterling for euros. go and earn some money in France. follow what happens when you want to come back and spend it in England. how difficult can it be?
  17. the money the bank received for the Euros stayed in the bank and the euro equivalent left the country. the bank had to give something for the euros at some point. how difficult can it be?
  18. no, 1000 sterling worth of euros hasn't entered. The guy bought a 1000 worth of euros from the bank and spent it in europe. The 1000 euros stay abroad. If whoever holds them abroad wants to buy sterling then the equivalent sterling will leave. so you are still 1000 sterling down.
  19. a 1000 sterling worth of euros what the UK held has gone and been spent in Europe.
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