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Everything posted by IMHAL

  1. Oh THAT bigger picture! why did'nt you say - nice drawing - all those fluffy clouds and nice bunnies. Is your Mom at home? You should'nt be playing with the computer whilst she's out. HAL
  2. Is it a prisoners dilema or just game theory? - I suspect they will reposses full throttle and just keep quiet about it. That way they can hope that the other banks hold off whilst they get max value from their distressed assets. Who ever gets rid first will be the strongest. Unless they all club togeher and do what the chancellor wants them to do - prop up the market by giving payment holidays and such - then we open up the moral hazard box to the general public - who will not hesitate to default if they can get away with it. That road lies ruin. HAL HAL
  3. You are right - my spelling is not great - I'm of the spellcheck generation. My schooling has not yet finished - I am others are waiting for your big financial picture to materialise to make this complete - or is spelling your main speciality? HAL
  4. I agree - the Tories did make a hash of it back then also. This time it is different tho - it is much much worse with NuLabour proping up the market, not letting it fall and encouraging FTB's into horrendous debt at tax payers expense. That is the difference. HAL
  5. Given we are where we are - that seems to be most sensible suggestion - if it can't be allowed to fail then it is nationalised - the problem is that it then becomes an instrument of this labour government. NuLabour would instigate free sweeties for all so long as you vote for them - then they bankrupt the nation. The real issue is the morality of government not the banks. HAL
  6. The government are complicit in drawing people into debt. They are either stupid or evil. I have a feeling they are both stupid and evil. When they are kicked out they will not get back into power for generations. People will not forget how they destroyed a country - Labour politicians will not be welcomed into other parties because of the stigma attached to them. Labour are desparate to keep the debt party going and prop up their only legacy - a debt fuelled orgy. HAL
  7. Hopefully the canvas, paints and brushes are coming out.... I am keen to learn. HAL
  8. Your bigger picture - I am interested in what this is and how you think Gordon B has been totally powerless to stop it. Can you explain? Then we can have a debate without you hidding behind the 'bigger picture'. HAL
  9. No - I get the bigger picture. We elect governments to put frameworks in place and to regulate - they have failed to do that. Give any institution in a capitalist society free reign and they will hold you to ransom if they can - this is where we currently are. First with banks, next it will be with utilities and then with supermarkets. I cannot blame a scorpion for biting me because it is a scorpion - and we cannot blame the banks (or any other industry) for making a profit because that is what they do. We can and should blame the governemt for not putting in effective controls for societies best interests. To stop them from holding society to ranson. They do this by controlling how much power they excersise over us - banks hold power by vitue of debt, encouraging people to save and you reduce their power over you, regulating how much you can borrow also reduces their power over you. Banks have been quietly encouraged by this government to keep the party going and now we are in trouble - simple as that. Allowing banks to become usury is a failure of regulation and policy - each government has control over that. HAL
  10. We are suffering from "bail-out-itis" - the utility companies seeing the banking industry receiving so much free cash from the government are now priming for their slice of the action. Having taken massive profits during the good times they also want their fair share of any tax payer led bail out. This is the law according to unintended consequence. HAL
  11. Did I mention the Tories? I like some of their policies and dislike others they have. At every turn there is a decision to make - and at each turn this government has chosen the easy path that gains them more votes - they pay little head to the consquenses just down the road. They just want to win the next election. We need a strong government that looks to store up wealth during the good time (the last ten years for example), one that does not employ more public sector workers just to buy up votes, one that contains spending and then uses it wisely when there is a down turn, one that does not encourage us into debt, one that believes in a free market and does not prop up house prices, one that recognises that houses are not speculative instruments and that the current and next generations need somewhere to live at a fair price, one that has effective control over imigration, one that does no take so much tax from us to spend on worthless and failed project (e.g. ID card, NHS computer systems, etc etc etc) and above all one that does not try to control every aspect of our lives and constantly lies to us. I have no respect for this government - it does not mean to say that I have every respect for the opposition - but it does say I have greater respect. HAL
  12. Bang on buddy! Broon should publish a new book and call it "The courage of my convictions" a sequel to "Courage". That will show the public he means wat he says - unless a few people disagree, then he will hold a review and if more people disagree he'll change his mind. They will have destroyed this country by the time they are booted out - having spent all our current and future money on bailing out banks, propping up house prices and pricing the young out of the market. Now that moral hazard is in the rear window they will do anything they like - the public will be supportive - prefering short term gain over long term pain - the line has been crossed and I am pessimistic about the future of this country. The 'unintended consequenses' will escalate and at each stage this bunch of bucking bronco's will print and pour money onto it until we end up with hyper inflation, food riots and then starvation. HAL
  13. I can't stop laughing. I wonder what inflation in Zimbabwe would be if measured by Gordenron Broon and Comical Ali. 2% anyone LOL. HAL
  14. Have to agree on with you on the this point - look at Ruth Lea as a good example - director of LSE or some such esteemed institution and she is firm on believing that we will have no recession and no HPC - why? because of lack of supply and good affordability - jeeze how thick for an eminent economist!! What these people lack is an ability to look past the current facts and then into the dynamics of what is happening - they cannot seem to see that we have virtuous cycles and destructive cycles - they only see reported facts and say TODAY we are not in recession so tomorrow we will probably not be in recession. Good economists do predictions, give warnings, identify root causes of instability and make recommendations for changing the system for the better. Bad economists tell you what has just happened, focus on symptoms, and make recommendations about how to apply sticky plasters to maintain the stus quo. By the depth of the moral hazard we find ourselves in then I put to you we are surrouned by not only bad economists but a herd of cowardly jobs worths. HAL
  15. Wellcome back BAB! But what has this got to do with the price of bread? Given that 99.9999% of people buy their houses in local currency? I personally believe that gold is still a good hedge/insurance policy (5-10% of your portfolio) against bankers and governments stupidity BUT if we are to return to normality (as opposed to tin hat and beans) then HP vs AU is insignificant. HAL
  16. Just an idea - but why don't the builders make loans to FTB's if they are so confident of the quality of their products as an investment - they surely can't lose then can they? They could even ask their shareholders to stump up the cash to loan to FTB's to get them onto the property ladder. I am sure that shareholders will be very very willing to support their investment in this way - they could even re-introduce 100% LTV - now I'm sure that shareholders will see the logic in this HAL
  17. How about demand = desire + ability to finance - fear of capital depreciation - fear of job security - fear of inflation Ohh - that just makes demand less HAL
  18. Villain or Hero? In the west he will be see as a Villain in the ranks of Al Queda he will be their greatest terrorist! Al Greenspans approach was obviously to let the market do whatever it likes - so long as it goes up - and when it fails blow another bubble. If that does not work then its Ok coz we can take the tax payers money to solve the problem. It a policy any chimp could type. The role of a FED policy maker is to regulate the markets for stability - just as the governments task is to regulate society for stability - that means non destructive policies - with both freedoms and responsibilities in equal measure with the threat of punishment of being out of bounds. Al Greenspan was the modern day 'Wizard of Oz' - a tiny clueless man who spoke in riddles hiding behind an institution that gave him station. HAL
  19. Just have to add my 2p worth. Irwin Steltzer when asked how you would solve the problem said something like - 'you bail out the companies that have failed' he then goes on to say that Alan Greenspan was a good FED chairman - all with a straight face. For that and that alone I declare Irwin Stelzer the grandest PRIK of them all. The only person that made any sense was Lawson who demanded that if banks expect bailouts then they be tightly regulated - i.e. traditional multiple and LTV's. Lawson the man talks sense - the rest are **** and elbow confused. HAL
  20. Come on Crash2006 snap out of it! Whats happening to you? Its simple really - the tax payer pays these layabouts to stay at home and it pays the government to administer the costs and it pays the doctors to make excuses for them to stay at home and it pays for them to have kids and it pays for their kids etc. etc. It is simpler to have them go to work and then (by rights) the government can cut taxes and we get to keep the stuff we are supposedly working for - cutting out the vast overheads involved in administration. Your arguements do not hold water because we have virtually unlimited competition from EU workers - what if would a few ill educated chavs make? HAL
  21. I laugh (should be crying) when I see these inflation posts - what does it take for CPI to get over 3% in this era of manipulated stats - a doubling, a tripling of all essential items? CPI is a joke - it just does not reflect reality - then again the government have the head up their ass so no suprise. HAL
  22. Another page out of the champagne socialists book of how to manage an economy into state ownership. Great - thank Will - you are our saviour - W*nker! The fact that they (NuLabour) have been complice in this messy event to help 'hard working families' get into debt, prop up unsustainable house prices, erode pensions and spend tax payers money on an excess of government pen pushers to buy votes may not have past his notice - how can dipshits like him get air time. HAL
  23. I really don't know why anyone even bothers with the CPI - it is not credible or relevant to the cost of living - the opposition should have been shouting from the roof tops about this fraud and spin that CPI really is. That is what the opposition is for - if we had any real opposition that is. Soon when people can not feed themselves, pay their taxes (tax does not have to be taxing LOL!) or drive to work then no one will believe this governments fraud - when the masses wake up from their comfortable HPI induced slumber there will be trouble. HAL
  24. Truth is Labour are now starting to become tangled in their own spin. Real Inflation as measured by the cost of living is soaring - the golden rules of borrowing all broken - the rules of the game changed and manipulated beyond recognition and common sense. An officially spouted reality that most people do not recognise. Crime being forgiven - debt is a way of life for the people and the government - corruption is endemic in politics etc, etc, etc. We are now a banana republic - we just need to admit it and realise that we have to take responsibility for ourselves - there is no point trusting the government to do it - they spend our money getting re-elected not looking after our long term interests - if they did then they would also include a saving ratio as part of their stated economic goal. HAL
  25. Lets not forget to fill all storage spaces and rooms that are not being used with bricks - this has to be the best way to add value to a property - and just before you sell the house, completely fill it with bricks to extract that extra equity. Remember a house is not just for living in! H
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