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House Price Crash Forum


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Everything posted by huw

  1. ... just not for houses, maybe (how will the real value of bank deposits perform over the period in question?)
  2. ... quite possibly with your head on a block, or maybe at the end of a pike. You did bring up the 1600s There's no real reason why political systems and ownership structures that worked/existed in one technological age, should persist much beyond it.
  3. It sounds more like covering themselves against liar-loans/mortgage-fraud, than anti-money-laundering, to me. They probably brought it in after Peter Mandelson's little mortgage peccadillo
  4. "Renegotiate" the contracts. Pay them with brand new paper if necessary, it's been done before.
  5. They're more likely to get another revolution. In the last revolution, the successor government repudiated its predecessor's debts. In the coming revolution, the successor government will have to forgive its predecessor's loans.
  6. International protectionism (trade blocs of nations with similar outlooks and levels of development) plus a military resource grab IMO.
  7. Er ... the fundamental premise of the argument is wrong. Foreign Exchange Control Regulations of the People's Republic of China (Amended in 2008) (evident typo in the regulations corrected )
  8. Clearly not, but then he wouldn't sell one for cash, either. Plus a lot of what people think of as "cash" would disappear -- you can't buy bread with a deposit in a bust, unrescued bank. Gold is not a particular victim of deflation, any more than bread is. Cash (the real folding stuff or equivalent instruments) would be king, but it would still be better to hold gold than bread; gold doesn't go mouldy or stale
  9. Google -- merit Apple -- marketing nouse Microsoft -- strategic vision But there's really no reason to think any particular bottom-rung programmer will make it big (nor has there ever been -- most people don't have the required entrepreneurial vision and drive). I don't know much about Deninger's background -- didn't even know how he started out -- but love him or hate him, there's no denying he's an exceptional case.
  10. The tripartite system (Grammar, Secondary Technical, Secondary Modern) wasn't even fully implemented before being judged a failure. ISTM that the lack of Secondary Technical Schooling left a woeful gap in our education system. Certainly, at the Grammar School I attended there were bright but non-academic children who would have been better served if the third leg of the system had been created. It's actually astonishing that the UK designed a tripartite system and then only bothered to make two bits of it... The decision to abolish, rather than complete, the system was IMO an act of class war as much as of educational good intentions -- as evidenced by the following quote by Anthony Crosland, Labour's Secretary of State for Education in 1965:
  11. Obviously what you said about the house, garden and neighbourhood weighs on the side of keeping it. If you'd said it was near a sink estate and overlooked by a tower block, I'd have advised to get rid Apart from that, it hinges on how secure the LA job is. If they let you go, you could be forced to sell into a sharply-falling market, perhaps seeing much/all of the value you currently have in it wiped out. Then again, that value could also be wiped out if you sell now, lose your job, and turn out to have too many savings to qualify for benefits. Sounds like you and your mates would have a more enjoyable time by going for it. I rented a room in a similar fashion when younger, a lot more fun than renting a flat alone Having your mother pay the cards isn't necessarily taking advantage -- as long as you pay her a competitive interest rate (which would be more than she'd get in the bank).
  12. But we do live in such a country, e.g. Coal Act, 1938 and subsequent nationalisations.
  13. However this strategy is self defeating unless those regimes experience growth in demand, not just in production (since the bloated welfare countries will no longer be able to act as engines of demand; indeed, their road to [attempted] recovery might well involve raising barriers against the products that have been expatriated from them).
  14. "National officer Peter Skyte said: "This is a further cull by HP of its skilled and experienced UK workforce, and follows nearly 4,000 jobs being cut over the past two years since the takeover of EDS by HP." EDS used to acquire govt staff via outsourcing, my guess is they would have moved lock, stock and barrel with their union cards, contracts and everything else. Chances are, many would have been for the chop in the current public sector cuts, even if the outsourcing hadn't happened It would be interesting to know how many of the staff being let go, were recruited wholesale by outsourcing rather than going through a selection process.
  15. And even if it doesn't, it harms non-employees. "This here is our work. You lot aren't entitled to any of it."
  16. ... another import-led consumer boom, exactly the thing to rebalance our economy
  17. Not just governments -- countries. Not tolerating mercantilism within a supposed free-trade arrangement would be a good start. Or you must have a system where excessive debt simply defaults and creditors know this up-front, rather than assuming that their tokens will simply be moved onto the sovereign balance sheet.
  18. It works both ways ... e.g. Club 18-30 (and Saga).
  19. That's a good point. Personal tax cuts (and consumption tax cuts) stimulate demand, but the side of our economy that needs to grow is the production side -- stimulating another consumer boom will mainly benefit* exporting countries able to satisfy that demand. Therefore it's corporate and payroll taxes that should be cut, which appears to be what they're doing. * to the extent that further increasing global imbalances can benefit anybody, i.e. on paper and only until the music stops. (typo)
  20. Yes. I agree with the second comment after the article:
  21. If what you say is true then you have < £65k mortgage on £130k house --> possibly scope to extend the mortgage in order to pay the cards off, if you choose to live in it. Only consider this if you are 100% confident you won't re-fill the cards with debt! otherwise you'll just end up with a bigger mortgage and the same credit card balance. As for the rest ... depends on whether you value the experience of living in the house with your friends MORE or LESS than the money you'd save by continuing to live with your parents while avoiding the impact of any coming house price falls. That's got to be a personal decision based on your circumstances and goals. Would it be a good property to sit out hard times in ... big garden, sound construction, livable without a car, not on a rough estate?
  22. If you've got a fireplace you can always hang a pot over/near it -- lots of old cottages have still got the brackets that were used for this. Not that the British would have been known for their culinary skills, but I would guess that most people back in the day knew how to cook up some gruel
  23. There are plenty of jobs, we just don't do them here. Instead, we live by borrowing the production of foreigners. The proper duty of the state is to ensure the security and wellbeing of its citizens. Neither of those can be sustainably provided on tick.
  24. That was argued at the time, but the govt panicked. They feared a global banking collapse, triggered by UK banks defaulting on debts owed to foreign banks (and others). It would certainly have got things over more quickly, in the meantime we would have lived through interesting times Outright fraud, as far as I recall. If only that were the case. The fact that it's the deficit being cut shows that the money doesn't come from us (as taxpayers) it comes from investors buying government bonds. We've been sustaining spending/demand by going further into debt each year. Reducing/stopping that debt-increase inevitably reduces the original spending/demand.
  25. Maybe they'd better default on out-of-state bondholders rather than their local employees
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