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Everything posted by IMHAL

  1. /In best Gordon Brown groan/ Due to the subprime weather system, that developed, in another country far far away, we are now experiencing tubulence in the emploment figures , that we are well placed to deal with. Gordon goes on to say (do I notice he is out of breath?). I have an economic strategy, that I shall be releasing soon, (background swoosh, swoosh and chop chop of the printing machine delivering freshly minted notes). I will be getting on with the job to ensure that we solve this problem that we are well place to deal with. I shall not rest until we have steered to safer waters [ swoosh, swoosh, chop, chop). /End Gordon Brown groan!/
  2. My personal signature on a note with my personal hand written denomination, issued by me only. When can I start? Seriously tho - I reckon I'd go for gold - backed by mountains of pulped paper and ink. HAL
  3. I have some sympathy with your response and have read Fred's book where he does illustrate this view. I would go stronger that saying they did nothing right - I'd say the policy was to encourge debt. The following contributed greatly: - Adoption of CPI which excludes morgage costs as the preffered inflation indicator - The myth at the time propagated by NuLabour that HPI was decoupled from the economy - The doctored inflation calculator and doctored MPC members (Blanchflower et al) - The great pensions raid leaving people with no option but to seek alternative arrangements - i.e. BTL - The "madness" of Central Bankers surrounding 9/11 (Greenspan in particular) and their need to show the world how resiliant our economy was by lowering IR's to insane levels - and keeping them there - The claim of "no more boom and bust" - and the government pride and subsequent political manipulation of all statistics to show that indeed the business cycle had been conquered But most of all I blame the government that DID NOTHING when year after year HPI exceeded 15% - they promised extra stock - NADA - they encouraged immigration reducing stock - they deliberatly destroyed housing stock - the Pathways Project - various shared ownership scams, HomeBuy etc - looking aside when MEW and debt became the driver of the economy It is painfull to say this - Our Government sold its own people and their children down the river of debt fuelled poverty so that they could look like economic magicians. The sheer arrogance of Brown for believing that he alone could control the business cycle and subsequent lies to his own people that all is well and the economy is sound - the jig was up and he was still encouraging us to get into negative equity via ponzi schemes of his own making. He wanted to keep the house of card prped up by getting it moving again - he showed his. He is a criminal who through his actions has robbed every single one of us, now we are left with an economy in tatters. I can say this for sure - he wan't be giving any one talks on how to run their economies (except maybe Zimbabwe). HAL
  4. Old chap - you will have to extend the the "Lemans Browthers" thing to be economic meltdown as Lemans is already old news - so by the time you write your article we will have had another X banking, investment bank and other failures. I expect that you will have no problem finding people who have changed their minds quite soon. HAL
  5. If anyone comes looking for you - I'll say he went thata way, or was it thata way? or did he? Good luck and all the best. HAL
  6. By jove you are right! It is obviouse that that is what will happen. Hard concentration on stage managing and left field appears a zombie that takes a chunk out of you. Seriously I think you hit it stop on. HAL
  7. In my experience when anyone claims to be above the rest then the rest rise and decapitate them as surely as night follows day. We are witnessing the decapitation of the so called 'masters of the universe' - soon to be asking you,hash brown in one hand and fries in the other, what you would like with your burger - hedging their bets all the way. HAL
  8. Would not suprise me if the FED shorted the market whilst it was 'considering what to do with rates and leave them on hold' then used the money to buy up AIG when they 'decided that they would bail out AIG'. Seems too convenience - otherwise called insider trading or using market forces to build the market. HAL
  9. Right! sure - whatever. Its good that the voters of this country give on the job training to our politicians - shame that they get to control the economy of 60+million people while they are being trained. HAL
  10. Then again Ali C did ay that the first he heard about it (credit crunch) was when he read about it in the papers - hardley the bastion of foresight - more like the bastion of foreskin. HAL
  11. I am so pleased that you posted this thread - if you had'nt then I would have said it my self - Kaletsky IS totally devoid of any business acumen - it makes him uniquely unfit to be commenting as he does on business matters. I do hope the Times is listening - Please get this man off your paper - he is a laughing stock!. Kaletsky is barking mad - he does not understand moral hazard at all. He does not understand that the market as it is today is distorted and that he is advocating more of the same. He does not understand that businesses that have made bad decisions should be culled. He thinks that bailing out banks will have no cost to the government and no cost to the tax payer. The other commentators on News Night where stratospherically above Kaletsky. In paticular the woman who said that Central Banks where essentially to blame (root cause) - because they left IR too low for too long (Paxman who does not understand just sneered) - she did go on to say that banks do what they do (i.e. you cannot blame a scorpion for doing what it does). I was so angry that Kaletsky is allowed any air time for this air head. HAL
  12. Ok - I interpolate too far me thinks. Still no further down the road to pinning you down boy. HAL
  13. Thanks - no offence but are you are advocating we go back to a form of barter system? If so I'll have to put my pig on a diet because its too heavy to carry. Seriously! what is the alternative? HAL
  14. I'll plump for the 'asked no to notice them' - and when the gov and regulators came round to noticing that their tax take was increasing they verily continued to walk on by whistling no more boom and bust. And was thus born greed more virulant than the plague and deadlier than any could imagine. HAL
  15. So are you are saying that current regulation was not up the job of regulating heggies? (or unwilling to) HAL
  16. That is true - and I am saying that the regulation is lax. Either we have no banksters or we have them and tighten up what they are allowed to do. Or we go to a medium of exchange that does not lend itself to being created out of thin air - cue AU. HAL
  17. 1 - Protection for those that rent to kill speculation in BTL 2 - Restrict lending to 3 times single wage - 2.5x married 3 - Get rid of no cert loans period 4 - Increase reserve requirements for banks 5 - Outlaw outlandish leverage Injin - I am sorry but allowing banks to lend has to be restricted as they have amply demonstrated they are happy to cream the money off when times are good and they are happy to socialise the losses when time are bad - so by definition they cannot be allowed to put themselves into this position. HAL
  18. As soon as they wake up and realise that the bus/train/petrol and sandwich costs more that their wage. HAL
  19. Have been on here since 2002 when I decided that HPI was allready insane - sold in early 2004. 2005 was a flat year for HPI but then the market raced ahead again so started to doubt my sanity - luckilly I resisted re entering the market. HPC has been an eye opener for me as well as an educational experience. I have estimated my losses up to this point (from selling early) as £42K - however for each month that the crunch goes on I recover about £10k of that - break even time for me is December 2008 - every month after that is a gain. Let me stress that I did not sell because I wanted to make a profit - I did not want to live in the house I had at the time so thought why not sell and rent with a view to picking up a house I really liked in the future. I will be in the market for a house in the next year or two - I am in no rush but as other have said when a good one comes along then I will buy wheather that is 1 year or 2 or 3 - at a sensible price of course. HAL
  20. You seem to know much about employment. Would you like to tell us what the employment figures are as a percentage of the population - it would be nice if we could also discount those working for the public sector. Then we would have a true reflection of those that are productive. If you could also let us know how this has changed over the last 15 years then I think I might just take you seriously. HAL
  21. Total piffle! The estate agents job is to advise a client who wants to sell what the realistic price would be if they wanted to sell now - which presumably the seller wants to do. If the seller decides that they do not want to sell at the price recommended by the agent then they don't have to. The fact that some EA's are trying to manipulate the market by taking stock off the market is a tactic for the insane and soon to be out of business. EA's need transactions to survive - this EA is clearly looking forward to life on the dole queue. I expect that EA's over the last few boom years think that they can somehow control the market - that is about to be exposed. They will have to re-learn how to actively sell soon or they are done. HAL
  22. Personally - I think that both gazumping and gazundering is bad form - neither should be allowed. The only thing I would consider is reducing my offer based on a surveyors report and that the description being significantly different to how the property was described. I am kinda traditional and I would only enter a transaction if the price that I am offering looks like a good deal upfront - if the seller understands my offer (which will be keen) then I see no reason to try to cut the odd £10k from the price last minute - that is simply being cowardly upfront. Simularly if anyone tries to gazump me - the deal is off - period. This is a mine field - and there are no right or wrong answers. Given that sales go through on less that 3 months usually then there is usually no sense in changing the price - but when the market is very stagnant then some people may feel that the prices of equivalent properties have changed in the mean time - so they have to make a choice - either pull out and buy a cheaper property elsewhere or demand that this is reflected in the current sale prices. HAL
  23. So now we have husband and wife teams both working to keep the 'other half' of society in cream tea parlours. Great - no wonder chav culture reigns supreme - no mother at home, father working till all hours - a counrty in terminal decline - at least for those that work it is. HAL
  24. Well put - I like that! I honestly think that this is the big one - but I am guessing as to how long this fiat ponzi scheme will hold up - could go soon, could take 10 years - depends on how draconian the government become. HAL
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