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House Price Crash Forum


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Everything posted by ReggiePerrin

  1. An interesting post, although I see you use the words, "your", "you", and other words to imply that the problem is not yours, or your children's. We could rollover, accept we're slaves, there's nothing we can do, it's so pointless.. let's end it now! I say sod banks, sod society, let's go back to picking Berries in the woods. Hmmm, could someone lend me a Berry, I'll pay you back with interest?
  2. Good grief! If you don't want to pay charges for going overdrawn then find a new bank and/or talk to your bank. All you need is:- 1. A bank account with a free overdraft facility of say £250 (no interest and no fee) 2. Phone your bank up and setup an overdraft facility for £1000 (or whatever your worst case scenario is, and there's generally no fee to do this). Then if you go over the £250 limit you just pay interest, no penalties. 3. If all else fails and you go over the agreed overdraft facility; phone them up, apologise, say it was a one-off and they'll refund you any charges. If they don't, find another bank, because you're allowed to. If you constantly go overdrawn you need do something called "budgeting".
  3. Interest only mortgage... How hard is to understand the concept of interest only? It's hardly an obscure financial term. Endowment misselling claims were made on the basis that the advisors were telling people that they'll make a profit out of the policy when it matured, there was never any mention of the risk that the endowment wouldn't cover the outstanding amount. An IO mortgage is an IO mortgage, how can you mis-sell that? People really are unbelievably thick at times, hence anyone taking out a mortgage should be made to sit a multichoice finance exam before any money changes hands. If they fail then they're shot (Darwinism in action)
  4. Thanks for the explanation, but I'm with The masked tulip, in that I don't really understand this (although if all of this is true I can just about understand how it can be dangerous). using my limited, and therefore dangerous, knowledge of ekonomiks; Where are the Dollars that are being borrowed coming from? I 'understand' QE, that the Governments are printing large quantities of the stuff, but I thought that was going into the banks to re-capatilise them to cover all the bad debts from the MBS/CDO shambles, and the rest was going into public infrastructure projects (e.g. In the Uk that would be MP's Duck houses). So who are the 'speculators' borrowing Dollars from? The US Banks, Government or ...?
  5. "Unexpectedly again, do the experts expect anything?" Nobody expects the Spanish inquisition! Nobody expects ...
  6. To answer your questions Yes, I would dislike the cleaner. I'm required to keep things simple in order to keep my job (I have to explain things to Directors), it's worth re-learning the skill. Not tertiary.. first hand experience; just like the majority of the people in this country at the moment. The peom is rubbish... .
  7. I may not know what these people actually do but I understand what they've done. Keeping it simple; a nuclear bomb goes off, people feel it's effect, can deduce it isn't good. Or do the victims of the bomb have to understand how it works, how it was built and delivered, before they can express a valid opinion? BTW you posted a link to a video that was pulled by the user, and what difference does it make who I choose to like or dislike? .
  8. 'Emotional anchors', you seem to be unsure why people might be upset with the financial industry? 18months ago I couldn't care less about bankers or their bonuses, bankers were just a bunch of idiots who I made a point of avoiding; they were pictured mainly sitting around in bars buying overpriced drinks, clowns in suits if you like. They were effectively living in a parallel universe which did not effect me, my family or people I knew, and I didn't mind. But now that they've screwed up the global economy and had a negative impact upon the lives of many people I know, I've formed a more negative opinion on the value of these people and their bonuses, which is based upon a little more than just emotion. So don't be surprised, upset, or get indignant, if people start questioning the value of bankers... we all have good reason to now. .
  9. Keep the faith 'The Masked Tulip' The Government could see 18 months ago what was happening to house prices in America, and planned accordingly (bear with me, I'm also finding it hard to believe that this Government could plan anything ). Where we are now.. Interest rates are at a 300 year low. £800bn of debt has been racked up in an effort to support the UK economy We haven't had deflation, infact we're heading for inflation (energy prices are on the up, economic output has been slashed so there's not a glut of goods looking for buyers at any price, VAT shortly returns to 17.5%...) The effect of all this madness.. house prices have stabilised. This is a 'phony war', e.g. the first few months of WWII, after the election next year all hell is going to let rip. Personally I would want to be totally debt free when taxes, interest rates, etc go through the roof.
  10. Thanks, you just explained to me why the financial system collapsed.. obfuscation on a global scale by a bunch of bankers trying to make it sound like they're doing something clever in order to justify their bonuses!
  11. People shouldn't knock the idea of wooden aircraft. Wood is far stronger than steel and is the perfect material to make a bomb proof aircraft. For example: A hurricane or Tsunami hits some place all the steel and concrete buildings are instantly destroyed, the only things still standing are the trees.
  12. If they had any sense they would have guessed that no matter what they did people would hate it... i.e. change is bad! Therefore the best thing to do is make the thing look really horrible, when everyone complains change it to how they originally planned for it to look ... everyone is happy!
  13. It's probably a little more complex than that. 1. A lot of women worked during the war (doing the jobs of men who had been drafted into the services). 2. Rationing meant there was very little to spend the extra money on. 3. It was considered patriotic to save, i.e. buy war bonds; unlike these days when it's our patriotic duty to spend/borrow. 4. A different mindset; if you wanted something you saved for it. So much for the advancement of civilisation over the past 60 years
  14. The FTSE just went south... looks like my "...or not" was spot on
  15. I thought the markets were expecting 9.8%? If so there might be a rally when the S&P opens... or not.
  16. I'm genuinely concerned whether Peter is ok or not. OLeary is just like every other MD/CEO I've interacted with over the years, he's absolutely hilarious and completely off his rocker. The only difference is O Leary doesn't have the PR and marketing departments to protect him and the public from his own 'great' ideas. e.g. MD, "Lets make passengers with big willies pay extra for their tickets, we can give checkin staff tape measures and some scales", Marketing dept, "Great idea Sir! We'll work up an advertising campaign, set up a few focus groups to discuss it..... We'll get back to you in about three years, until then tell no one else about your great idea; We don't want our competitors stealing it". However if O Leary ever stepped foot on an aircraft I was flying on wearing a Pilots uniform. I'm out of the door. .
  17. Are you ok Peter? My post didn't warrent a reply from someone calling me a 'halfwit', hence my interest in whether you're feeling ok or not. .
  18. One of the reasons I sold the last of my stocks was because the "markets players" weren't playing, transaction volumes for the last few months have been really low. IMHO I think most of the people with the real money were caught out by this bounce, hence all the references to the 'wall of money' waiting on the sidelines to be invested. The recovery of stock prices is down to suckers, and I include myself in that group , who compared prices to 2007 and thought shares were cheap. Perhaps it's a similar mentality to people who buy houses now, because they're cheaper than 2007?
  19. I sold up yesterday morning. I guess the 'suckers' are those who buy now because the FTSE's dropped a few % ... The American nonfarm payroll employment figures are released this afternoon, The market will react to that (Whethers it's up or down is anyone's guess).
  20. Talking of undercarriage design... I used to fly regulary on domestic flights. If I looked out of the Departure lounge window and saw an ATR parked on the apron my heart sank. The infernal thing needs stabilisers on the wing tips.. horribly designed undercarriage, useless in crosswind landings; so not all retractable undercarriages are good.
  21. Minor issues 1. External URL Links are opening in the same window, previously they would open in a new window/tab. 2. Black text on the Thread lists, replacing the blueish colour, might abate some of the negative comments about design. To end on a positive. The forum is much faster, e.g. browsing threads, posting and edit posts.
  22. What's the problem? I managed to read the 3 pages of this thread much quicker than a similar sized thread on the old design. Big improvement, well done edit1: Plus adding posts is quicker edit2: And editing/changing a post is also faster
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