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Everything posted by IMHAL

  1. All makes sense if you think that oil is running out - so go from the petro dollar to the gold backed Amero. Ahhh - thats better - the yanks are still in control. HAL
  2. I do not think this will work - it creates a vicious circle - after all who would buy mortgage backed debt if the prospect of a rate freeze is on the horizon - it will make worse the woes of the credit market. Making both short and long term money virtually impossible to get for any potential home owners. It would essentially make cash Super King. Have I got this wrong? HAL
  3. The original web based article had many intelligent comments from readers - needless to say that most of them where less than impressed with WH's arguements. My own view is that WH has lost the plot - he can see that something nasty is coming down the road and wants to do what every good champagne socialist wants - protection on the down side but have all the gains from the upside. If WH is reading this - GROW UP - we either live in a socialist state and the government confiscates all assets and hands out equally to all citizens or we live in a capitalist state and you take your chances in life - that means speculators are allowed to be punished by the market. I really thought that Labour was about helping the poor - no - they like to help themselves stay in power by whatever means necessary. HAL
  4. He's talking out of his jacksy - he is basically saying that if prices go up then consumers should be allowed to borrow more - the trouble with that arguement is that you are basically saying that the public should continue to subsidise industry by printing more money and allowing consumers to get into even greater debt. This turkey is advocating hyper-inflation - lets hope he does'nt live in Diss and DEFRA don't find him. HAL
  5. LOL!! I think Nu Labour are trying a perverse sort of reverse attempt to colonise the world - instead of occupying a country and then running it - they are inviting everyone into this country and then when there is no one left in the host country, they will sneek in and swap. Breaking news! Nu Labour have announced their new vision which is to swap country with Poland. They aim to do this by inviting all Poles into England and then when there is no one left in Poland we are to sneak in and take over. Gordon has set two targets 1) that the rate of Polish migration is to be increased to 3m a year 2) that each year indigenous Brits will be migrated to Poland at a rate of 5 million a year. In this way we should achieve a country swap within 15 years. Gordon has been keen to point out the upsides which are that Poland has more land, better infrastructure and pleasant weather - with an added bonus that we will no longer be neighbours with the French. His long term plan is to re-use this strategy and eventually invite all the Russians into Poland and then swap country with Russia - he claims that this will ensure energy security and Great Britains rightful place on the work stage. Gordon has shrugged off suggestions that Stalin is his hero and that leading Russian was always his long term plan. HAL
  6. I forgot to add NHS dentists to my list of typical expenses that a migrant may use - then again there aint any so maybe it was not such an oversight. Seriously - this government has been guilty of putting over one sided stories for so long (spinning and getting away with it) that they now think its normal - no wonder democracy is breaking down - typical Nu Labour. Here is a corking example - Brown says he cares about the environment: - we trade carbon used in this country so that other countries burn the same amount that we do not use - Derr?? - we promote growth so that...... we can consume more - Derr?? - yet we disincentivise saving so that.... we can consume more today - Derr? Nu Labour thinking is so sclerotic that they cannot see that a savings culture actually makes everyone better off and promotes delayed gratification (remember that?) which conserves resources. The problem with saving of course is that it would not give Gordon more taxes with which to buy votes. Its quite simple: Growth = More Resources Consumed (the efficiency arguement is usully bogus) Even idiots understand this simple principle (but not Nu Labour). HAL
  7. [ Was it REALLY worth it? Well the answer is probably not: Typical state funded expenses for said labourer. - Cost of school for a child - Cost of doctor or hospital visits - Child benefit - Road use - Local services (police, libraries etc etc etc) - Translation services, Government quangos to see how we can integrate better etc etc etc And what is the average wage for a migrant £15k per year out of which they pay say £3k in tax and get back some of that in child benefits. It does not seem to stack up at all - the private cost of an annual hospital/doctors visit alone would wipe most of the tax paid by the migrant. The government have given us the 'free lunch' message that migrants are good for the economy - well they may be but the rest of us have to pay for it in increased council taxes and a lower level of servics that we thought we'd be getting with rising taxes. I am sure that research has been done on this before (probably by a state body that wanted a specific outcome) - but I just cannot see how it could stack up! I am not normally so vocal on this issue - but it has become a joke, the Labour government have treated the public like fools. HAL
  8. I agree - it is harmonious - this is how business works - anyone who thinks otherwise is deluded. The job of the government is to control how far business can go and how it incentivises citizens to either spend or save - they have simply encouraged us to spend without a thought for what will happen if we get maxed out on debt AND a rainy day comes along (think pension tax breaks, inceases in NI etc). The government is the one who has turned a blind eye to our excesses and we should not and cannot blame business for doing what comes naturally by making money. This is not to say that NRK business model was not found wanting - it was and the tax payer should be seriously convinced by the BOE that we the tax payer will get our money back. HAL
  9. Informative piece in the Telegraph today: http://www.telegraph.co.uk/money/main.jhtm....xml&page=3 Is the US hitting the self destruct button on capitalism - by proping up the toxic mess and reducing IR's it is effectively bailing out the big players who got it wrong and helping to perpetuate the situation - has it gone double or quits on moral hazard or has it just gone nuts? What is for sure is that the capitalist system will never be viewed as a market free of manipulation again - if this goes wrong then people will want to be paid in gold and fiat money will become worthless - this is a very dangerous game they are playing. HAL
  10. Funny - I was thinking about Guy Fawkes - what with the government set to slash private sector pensions yet again by stealth (see todays telegraph) - Guy would have been incensed today and probably would have had a mind to repeat his actions (thereby saving the tax payer much mula). HAL
  11. WOW! So this is what happens when the world runs out of resources! There is a war and they kill lots of people. HAL
  12. Hear Hear! - Mew Labour need more time to sort the mess out that the Tories created. We really need to give GordonRon Brown more time because he was not really in charge of our conomy whilst Tony was in power. Gordon really needs to make housing more affordable by allowing developers to take flats and sub-divide them into I-Flats - in that way we can get even more immigrants into the country to pay for even more worth while public servants to care for our benefit needs. HAL
  13. In the last 30 years the IMF have predicted 29 recession out of the 5 that have occured - they like to play safe. HAL
  14. Greenspan is getting worse - you can almost see through that thin veil of vested interest in helping the markets to stay steady and calm - why? - because he knows full well that he is the architect of current events and he knows that we know. HAL
  15. To the king of understatement - I raise my glass. Seriously - blowing bubbles is fun (whilst they are still expanding) - added to the fact that no one even bothers to question the bankers whilst this is happening (too many snouts in the trough, speculators, governments, builders, EA's etc) - so it may have gotten out of hand for a little too long - say six years too long and generated about twice the amount of debt that each individual could possible want to take on in his/her lifetime, pension funds with excrement sitting in their portfolios, savings being trashed by 'expected' increased inflation (he is predicting that - no sh1t). No real damage done. HAL
  16. I am sure that you are right in that he is not a fool. However what I do have trouble understanding is that he has probably caused more problems by trying to stimulate the economy and forstall the 2000/2001 recession in the first place - the law of unintended consequences has started to take over. Now investors and speculators are acting like pavlovs dag - they are waiting for the next interest rate cut to mortgage their souls - just incase they lose their savings in the worthless money trap. The idea behind capitalism is that you occasionally get a shakeout of the market to cut out the dead wood - this makes way for better businesses - out of the fire rises the pheonix etc.... AG by trying to eradicate a due downturn has broken the system - now speculators are ignoring risk = more and bigger bubbles = more and bigger troubles. I think he has seen the errors of his way actually (too late) - and conveniently he is also out of the job therefore giving this particularly nasty problem to BB - nice guy ehhh!!! So the cost of delaying the 2000/2001 recession was mall investment and excessive investment in the housing market (the wealth effect) - so the financial distress has now moved to Jo public where before it could have been contained just to the markets and speculators in the dot coms. Double nice guy!! HAL
  17. I listened to the interview and the conclusion was...... I've never heard so much horse sh1t from a man with such a great reputation - he came across no so much as a man who knows what he is doing but more a man who does things to the economy and then stands back to see what effect it will have - well I am sure most of us could do that. Take a few examples: - he lowers interest rates to 1% after 9/11 - did he not expect those kiddies to come out of the sweet shop without bags full of over inflated goodies? It was a real bubble blowing moment. - he says that the UK housing market slowed down in 2004/5 but then 'suddenly' rose again and that this is 'unexplained' - well what about that interest rate cut - surely sir that may have been a trigger? (hint - like it was when you previously cut interest rates). - he then claims that interest rate policy is having no effect on the economy - doh - is this man for real!!! - he then goes on to explain the wealth effect caused by inflating house prices - but when the CPI was constructed it was claimed that house price inflation is decoupled from the real economy and therefore did not need to be included Is this man is so stupid? - I am at a loss to understand his babling - he truly is full of horse sh1t. HAL
  18. I doubt you'll get quid for it - it may have more liabilities than assets when you factor the 'real' sub-prime element on its books. The 'buyer' may ask the government for money to take on NR - I can see it comming a mile off. The tax payer will pay some company to take it on - I can hear the rumble on the tracks before this particular train gets to the station. HAL
  19. I strongly suspect that Gordon 'ron' Brown has such a massive ego and such a fear of failure that he will do most anything to avert the stigma of a crash - including what he has just done which is to signed the tax payer up to taking up all sort of sub-prime debt from the banks as collateral. I think he will go further - he will most certainly lower interest rates - bail out the next bank(s) that gets into trouble through lax lending (which GB has effectively given them the green light on) and I hate to say this - he will also allow trade unions to get away with 'inflation busting' pay rises (I hate that word 'inflation busting' because everying is inflation busting these days - you'd think in the interests of a green environment they'd save paper and ink and just call it inflation). He is on the road to taxing savers even more and rewarding speculators by encouraging inflation - a sader society will result and he will have his communist Britain - we will all rely on him for alms. HAL
  20. Let me think........errr... no.... nope............no way! The system as it stands is in dissaray - you own the bank a grand and the bank controls you... you owe the bank a trillion and you control the bank. The BOE and especially the FSA (both are puppets of this government - no illusions now) have allowed the banks to become hostage to the situation - this government is morally corupt - it has allowed those hard working famillies who have saved to maintain themselves in their old age to rot by guaranteeing that their savings are eroded by inflation. Inflation that will simply overwhelm them and ensure that they on the poverty line - they will be looking to the state for handouts - just where our dictator Brown wants them so he can dish out the alms to whome and when he feels like - this fecking idiot is not happy to spend all the money we earn today - he has spent our future earnings too. This government has let its people down just to hang onto power - this is not the action of conviction politicians it is the action of jobbing politicians who seek to line their own pockets at the expense of their electorate. Still most people seem to think that so long as their houses are worth an every increasing amount of money ,even tho the money is worth less (and may become worthless!) then they are happy. Struth - you would think that the opposition would spell this out to the people - well - if they can't then I guess we deserve what we get. I hope Brown and this Labour government rot in hell for the damage that they have done to this once Great Britain. HAL
  21. This is all looking very ominous - we are now at the real 'horns of a dilima'. First if you do not have a house and have the money to buy a house then you face the real chance that your money will be eroded away by inflation - these muppets are signalling a repeat of 2005 to bolster the market one more time - since the medicine seemed to work then - or at least put off the inevitable - they will try it again. Second if you do have a house and excessive debt then you face the real possibility of an economic mishap that will more than likely mean that you will lose your house and end up bankrupt. Either way you are in trouble - this government (and central bankers) are forcing all people into debt prison in order to support the markets - by making money worthless they have stolen the savings of those hard working people they cliam to represent by eroding its value. This is all going to end badly - I am tending to agree with GF and others that gold is the best bet - but I still think that if the CB's and Governments of this world are so devisive then they will not have a problem with confiscation. HAL
  22. To credit Brown and Bush with any intelligence about what real growth in the market means is to go too far. They simply do not know or care - they just want growth because it keep votes happy and pays the taxes (their wages) - they do not care if they get it from tulips or houses - they want to stay in power by any means necessary. The shock comes about because the people who make the markets hype the market to make money - lots of it - then when the sht hits the fan - they go to the politicians, ask for a bail out, get it, unwind their own position by passing the waste to Jo Public's pension funds and the game goes on - except we now have a recession or hype a new bubble. Its a game that the business community has been playing for a long time - its easy - you get free money from the state and you cannot lose - until you get hyperinflation that is and them the angry hoards will get you and your family. HAL
  23. I don't know what they will do - however - if they lower rates then we all know that the global markets are in real deep do-do and they will have lowered to avert a massive crisis - at this point its make your mind up time - its either hyperinflation or deflation - red or black - take your pick - either way we will see a recession or a depression (after hyperinflation). Any action by the central bankers to lower IR's will lead to reduced confidence in the health of the financial - I can see the SM rising initially for a suckers rally if they lower then it will tank big time. I can also see that banks will tighten mortgage credit even if they lower IR's - so we will still see HP's go down but maybe with a bit of stickness initially as housholds keep their nostrils above water for a while. Alternativeley if you are very rich and don't like gambling then you can diversify - gold, property and cash. On second thoughts - cash and gold - the housing pup is going to quack. HAL
  24. Is this just a stunt? A cheap way for the Fed BOE to spead the notion that the taix stuff has value and to keep the market happy. I am deeply suspicious. Sounds like market manipulation on the cheap. HAL
  25. I hear that tulips are making a come back! Maybe they wll offer loans to speculative tulip buyers Don't worry they will find a way. Or just maybe they have got it into their thick skulls that blowing bubble one after the other in order to delay an orderley correction is bad after all - wonders will never cease?! I am amazed that central bankers and politicians really have the pomposity to believe that they can control markets (by manipulating the cost of credit) even when obviously it has lead to a distortion of the market that is so gross that every day punters (we here on HPC) could see it with our eyes closed. The FSA is a government organisation that has turned a blind eye to this debacle and the chancellor has turned a blind eye to HPI because he has a vested interest in stamp duty and economic growth a the expense of our futures (even thought he promised no HPI and no boom and bust - remember). I cannot see politicans wanting financial and political armagedon ( by throwing money out of a helicoper and thus causing hyper-inflation just to bail their rich buddies out) - because the people (me and you) will castrate them - hang them upside down - and eat their livers for breakfast. People do not take too kindly to having their life savings stolen and their pensions (remember those hard working families?) decimated. If they allow the bubbles to deflate sensibly - and appologise for their pomposity we (the people) may just forgive them for being stupid but never vote them in again - there is an upside - the masses will allow them to live. I do hope they are listening because if everyone has lost everything then no one has anything to lose and when that happens then the mob will take control and they will look for scalps. Sounds like fighting talk - this is a democracy and we can debate the consequences of economic mismanagement - can't we?. HAL
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