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Queen of Spades

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About Queen of Spades

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  1. Bread and circuses - worked very well for the Ancient Romans Welfare state and reality TV - working very well today Vive la revolution!!! - I don't think so - too busy watching Jeremy Kyle thanks!
  2. A difficult question to answer as you have to take into account his contribution to this mess as chancellor. His first job should be to accept that his belief, his 'mantra', that economic prosperity can be achieved indefinitely through consumer spending and HPI was not just WRONG but deluded. His second job should be to look at countries such as Norway, (who although not entirely unscathed by the global ramifications are much better placed than us to weather the storm as they were much more financially sensible) and accept that it was not inevitable that we are in such a shocking state, it needn't have been like this! I agree wholeheartedly that he should resign - that should be his third job. An honourable man would. But he is not honourable. He is deluded.
  3. No.....thank YOU RB. One of the many voices of sanity on this site that kept me going over the years. I too thought they might just have pulled it off. Came very close to throwing in the towel and buying but YOUR posts in particular stopped me.
  4. Yes yes, take your point FFS we are where we are. But, cards on the table - this is housepricecrash and I am NOT prepared to wait for the bottom even though we are witnessing the biggest mother of a property crash IF our hard earned HPfund is going to be wiped out. Ironic isn't it - I always thought we'd be in for a straightforward crash like last time. Never reckoned I would have to consider buying in too soon to avoid annilihation of savings!
  5. Thanks for that Sebastian. Wonder what the time lag is between the printing presses starting and devaluation kicking in?
  6. Wish they'd just let it run it's course then. I suppose the question is, is it so big that whatever they do it makes no difference so that it has to run it's course.
  7. Is it really inevitable that we are ultimately going into a hyperinflationary phase? Didn't Japan print money? They only suffered deflation. I have heard that America is now printing money. My understanding is that we are 'borrowing' money to be paid back at a later date by the tax payer - so, not the same thing, just a horrible financial burden for us all. My questions are:- 1. Will we continue to follow America and start printing money? 2. If we do, will we follow Argentina - hyperinflation or Japan - deflation? I appreciate that this subject is extremely complex, but would be extremely grateful for your thoughts.
  8. Better still, Cameron should let William Hague take over and have Clark as shadow chancellor, then we might have some serious oomph to oust this odious government.
  9. Bread and circuses! Worked for the Ancient Romans
  10. A bull rally is entirely dependent on how the banks respond to this rate cut. If they all follow Lloyds, there will probably be some movement in the market and the media will go to town and declare that the worst is over. If this happens I really don't think it will last very long. Cuts will more than likely only be passed onto existing borrowers. FTB's have still never had it so bad. Most of them are already indebted and now need large deposits, plus, rates are not favourable for them and arrangement fees are large....and let's not forget the biggest problem, house prices are still way too high. It is being stated on some news bulletins that the MPC know just how bad things are going to be in the future which is why they are taking such drastic action. Taking this into consideration, I do not believe the HPC can be stopped. The cuts may momentarily slow things down, but only until the next crisis emerges (which it inevitably will otherwise why the steep cut?) I too have been saving diligently for many years and find it increasingly dispiriting to see the government reward those who choose to borrow and spend recklessly. I overheard the other day a child of about seven claiming that she did not need an education as she was going to be a property developer when she grew up. I could not believe my ears! The mindset of this country needs to change and change fast. Unfortunately the head honcho of this mindset happens to be our great leader, which is why this correction is long overdue and seems to be taking forever.
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