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House Price Crash Forum

IMHAL

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Everything posted by IMHAL

  1. You are right - the issue now becomes how can we trust these buggers? How can you trust fiat money when it can be so easily manipulated? It seems to be true that we are not in a free market after all - there are puppet masters tugging on strings to make us do their bidding - lifetime of debt slavery anyone? - it is engineered and the fiat currency we call the pound is useless as a store of wealth. What the hell is wrong with a recession - is cleansing - it creates entrepreneurs and thats what is needed for us to compete in the long run - instead we all consume the same stuff over and over again - and we are being turned into a 3rd world country by default - we have grown fat and lazy living off our house equity. Thanks Merv and a special thank you to GordEnron Broon for getting this country in the biggest pile of dog turd in living memory. HAL
  2. It suggests that their position is not sustainable (words from the article) - and that when a sustainable IR position is implemented by the MPC then their business model dies too (ie wont work based on capital appreciation anymore). The MPC have screwed up - they have created the biggest level of debt ever seen and now they want to engineer a soft landing - Ha!!! Can't wait to see this miracle happen. Without HPI we have no growth - jobs will be lost (in addition to those that have been exported) - there will be distress selling and we will enter recession. This is what you call a failed economic experiment - trouble is householders will pay and savers will pay - we all end up footing the bill. The banks and government elite are protected and can afford to gamble with our futures and livelyhoods - it does not hurt them. In response to will this get into the news? The answer is yes it will as there are reporters lurking on this forum. HAL
  3. There are too many questions raised by this 'revelation' - will the MPC rase rate now after admiting to ultra accomodative rates? - did they out the news for some other motive i.e. to knife Brown or to let us all think that they will continue to be accomodative - so get on the bandwagon now - or are they saying stop spending??? My head hurts thinking about the intent of this revelation and its potential impact. I guess we will have to wait for the next MPC meeting to find out - if they lay another 0.25% IR hike on us we know that they are playing the same game. HAL
  4. Sorry I'm HAL - but wish I could have thrown a good 'Eddie' knife like that into Brown's back - he is behind this - he knew that unless there was growth he would not stand a chance of becoming PM - so he engineered growth - viola - 5 years later we have massive debt and a bigger crash in the making - throw in those millions of disgruntled voters who will have negative equity (including public servants), add a little Iraq war anger and NuLabour will be kicked so far out of office they will be lucky to get into fifth place rankings as a political organisation. The MPC now have no option but to increase IR's and keep increasing them until HPI grinds to a halt or until the public get the message that they have been duped HAL HAL
  5. After thinking about this for a while - I think its another knife out for Brown. First his permanent secretary with the Stalinist comment and now Eddie with "Brown manipulates economy and gets hard working famillies into debt and thrown onto the streets". Well targetted knives IMHO. Brown is not going to become the next PM - there are many knives waiting for him. HAL
  6. Now everything is starting to come toegther - hence why we have adopted the CPI, low measured inflation but high real inflation, a blind eye cast to HPI, a blind eye on sub-prime - get everyone in debt and let them spend our way out of recession. This was their version of a helicopter drop!!!!! Blair and Prescot of course sucking more out of this than most!!! So what is the connection with the war in Iraq????? There is a connection. HAL
  7. I guess the next question is when are IR going to rise and by how much? Also when is credit going to be tightened - the lenders must now see that we are talking a matter of months for a full blown correction - so no 5X mortages or 115% deals or even 100% deals anymore. Share prices for the banks must also be affected?? HAL
  8. I agree - the BBC cannot be trusted - but this definately is a angry moment that desrves a wider audience - what about affordable housing? what about selling people up the river to a life of debt misery? there are just too many inconsistancies of what has been said by the MPC and NuLabour to bear even thinking about - talk about a total meltdown of trust!!!!!!!!!!!!!! If people know that they have been deliberatley duped into spending their life saving for a house that is unlikley to rise to the same price in their lifetime and whats more they will be working a lifetime to pay off that miserable shithole in chavsville - there would be blood on the streets. HAL
  9. No wonder Tony Blair and the rest of band of theives bought into housing big time - some may say this is insider knowledge and fraud!!!!! What a bunch of despots we have in power- sad - very sad for this country. HAL
  10. So would I - any ideas of who may have the data? Or is it so complex (deliberatley so I would think) that it would be virtually impossible to re-construct. HAL
  11. WOW! I think this is a Fonzy moment (1970's yank sit com for those too young). So lets get this right. - they deliberatley fuelled HPI - they deceived the public - they have put people into excessive debt - they tried to engineer a way out of recession... whilst causing a bigger problem later on - they..... words fail me. This is what an independant MPC is for IS IT??? Meddling with peoples lives and not being responsible for the concequences - they are about to see the fruit of their policies when families are thrown out on the streets - when crime figures increase, when the divorse rate increases and when no-one trust anything said by officialdom. Surely these guys are not fools - they must know that you cannot prevent a recession - it is a natural part of the cycle - by delaying one you increase the sscale and pain of the next recession. I am speechless. HAL
  12. I am sorry you you talking out of your theoretical nonsense. What does 'enduring worse macro-economic conditions' really mean? Do you mean that by allowing HPI we are staving off a recession that should have happened today whilst indebting outselves and our children to a life of debt slavery? Did you know that MEW contributes 4% to GDP? Whithout it we would already be in recession. So we are spending our notional assets/our reserves to fund growth - this is not sustainable - so should policy not control this for a better economic future? - its called delayed gratification - as opposed to the instant gratification that NuLabour is ecouraging right now. So - it seems obvious - politicians are tempted to spend today and let tomorrow sort itself out - or most probably a different party - i.e. the Tories will end up with the mess to sort out as usual. HAL
  13. When you say it is not meant to trick people - you are being naive - CPI is frequently quoted as representing inflation and was used in the same breath as pay rises for Nurses and other public sector workers - now that is being disingenous. You are too trusting - the politicians are using it as a tool to control pay whilst giveing the 'impression' that inflation is under control. As for not being a housing quango - I do not beleiev that either - they are indirectley influencing growth at all costs with their policies and they know they are doing it. Lets also say that most people not being economists think inflation is the rise in the cost of living. HAL
  14. Does anyone measure CPI as it would have been without the various attempts to bastardise the measure? i.e. we would then have say 10 graphs for CPIv1, CPIv2, CPIv3 etc to demonstrate that the trend by GordenRon and the ONS is to manipulate the figures downwards each time. I would have thought that this would be proof that what has happened is manipulation. HAL
  15. It a systematic fiddle. I don't know why they bother to publish CPI - no one believes in them anymore - they have no purpose and do not reflect the cost of living (according to the ONS) - they have lost credibility together with the MPC and especially our Stalinist Chancellor who lie to his citizens - he is another Mugabe in the making - he eats cake and everyone else eats air - at least that is still free - oops forgot he is imposing a council tax rise for those who live in rural places where the air is fresh and the views are nice - so that is taxed also. Is there nothing that this hog of a pilfering chancellor will not tax - I don't wish him ill but I would poersonally like him out of the way - he is destroying this country - salami slice by salami slice. HAL
  16. Voted Labour in 97 - bad mistake! I thought that they would restore some balance but they ended up screwing things up with out any social gain. Will never vote for them again - give me Maggie any day - at least she stood for those that worked hard. Will vote Conservative next election. HAL
  17. Given the prospect of being lambasted - I stand up for PG as he said that falls would start at the end of Q1 2007 OR if it passed the trend line all bets would be off. In fact if you look at the shape of the HPI trend line you see that it was pointed out that the 'double top' may be the same point on the graph as the previous 'pause' - PG acknowledged that this may be the case - it looks like it is. He, I and many other need to draw a line after which strategies change - easy to be critical but its harded to take a punt and know when your punt has not worked. Any better ideas? HAL
  18. Agreed - the there are more factors involved in the Germans getting housing to be a social rather than a speculative commodity - they have a good system that seems to have withstood the global speculative craze - this will put them in good stead. HAL
  19. I know - I was not having a go at you - your incredularity at the current situation is well placed - I was just making a point as to what they are actually doing - i.e. they do not know how this will actually pan out - but they should be getting the ideal by now that all is not well and is destined to get worst still. HAL
  20. No not the w-word - they are engaging in a giant experiment to see what happens when you let the market take control - it is an extreem experiment - and there seems to be no safetly net in place or brakes to contain any potential catastrophe. In short they are hoping that people are rational (which they obviously are not) and that the market will find its own equilibrium (which it will but it will undergo hugh rises and dips). What our policy makers have misunderstood is that speculation in lifes essentials will bring massive suffering, leading to increased crime and it will destroy the fabric of society. I hate government control myself but there are a few places when it does make sense - i.e. see the German system for housing and how they control speculation. HAL
  21. Sorry I'm not Yvette - but I do think the Germans have a great model for running the property market - it makes sense and disincentivises speculation. Its what you would expect from the Germans - a good system that works - their politicians obviously have more common sense than ours. HAL
  22. Margams post is valid - if you want a particular property then you need to buy when one comes up - that is the price you pay for being particular. Others simply want a house, any one from what will be a wide selection of houses available in a distressed market - these people can wait for a HPC knowing that something that meets their requirements will come along. The only other thing to point out to your friend Margamboy is in a distressed market the likelyhood of a property in the street he is interested is coming up for sale greatly increases. I do not think he is expressing a bullish sentiment or being a troll - just being realistic. HAL
  23. I just cannot believe that the general population can so easilly be seduced into thinking that everything is fine just because the notional value of their home is rising. NuLabour have destroyed this country - they have made some stonkingly bad decisions - at each turn they have gone for the easy money masked by layers of spin and lies. It really is time to get rid of these idiots, I see trouble on the horizon very soon. HAL
  24. How many times have government projects overrun? Answer = Always!!!!! Therefore I conclude [with Dog] that the government administrators are at fault - furthermore I suspect that they always knew it would cost more but did not say so from the off because it would have been politically unacceptable for them to do so before we won the bid. You guys [public servants ha!] need to get a life and stop blaming everyone else - accept some responsibility for a change - go on - everyone else does. Or is responsibility and accountability not a part of working in the public sector? HAL
  25. In defence of PWC - they were probably given a duff spec to work from by our very vague politicians [seb Coe included]. Sh1t in Sh1t out as they say. BTW is it not mad (and circular) to add VAT on this project in the first place? i.e. VAT on spending tax payers money that has largley been derived from VAT - sounds like a scam to me! HAL
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