ExecutiveSlaveBox

No ones biting Valerie, you must be on a lot of peoples ignore list I think the sticking point in all this is how much debt people are in. Many people have paid over the odds for houses and they can't bail out with out losing money. Problem with the wait it out strategy is as the market falls away beneath them a small loss is turning into a huge one. As the job losses are now starting to kick in there is going to be a tsunami of repossessions coming onto the market as people take things to the very edge rather than cutting their losses.

1930s? We'd be very lucky to get off that lightly. Back then we had a massive industrial base, maybe second only to the US. The largest empire on the planet as a captive market for our goods. Nowhere near the debt levels we have now and a cohesive and stable society. The list goes on and on... This is going to be the worst recesion ever for the UK since industrialisation.

Don't worry I'm sure the S.E will just print some more for us all. Seriously, the making things bit of the UK economy was the rest of the UK. The making money (finance) out of the making things bit was and is the S.E. Mrs T god bless her thought you could do without the making things bit and here we are... Completely reliant on financial services in the S.E to make any money. Now that's gone t1ts up. New country anyone?

Australians all let us rejoice For we are young and free We've golden soil and wealth for toil, Our home is girt by sea: Our land abounds in nature's gifts Of beauty rich and rare, In history's page let every stage Advance Australia fair, In joyful strains then let us sing Advance Australia fair. Beneath our radiant Southern Cross, We'll toil with hearts and hands, To make this Commonwealth of ours Renowned of all the lands, For those who've come across the seas We've boundless plains to share, With courage let us all combine To advance Australia fair. In joyful strains then let us sing, Advance Australia fair. Sorry, I just had to, wipes tear....

W4nkers. I've crossed over into actually hating this government over the past few months. This feeling seems to be vindicated every single day by one action or another. Can't wait for that moment when they all realise their political careers are finished and they're going to have to make it in the real world alongside the millions of people they've systematically f*cked over.

Hehe... spot on about Geraldton. What a toilet of a town that is. We got egged, f*cking egged by some hoons cruising round in their pick up. It's places like Geraldton makes me wonder if they are still serving their purpose as waste disposal points for human garbage. They just need to get the suits with arrows back on to warn unwary visitors. On another note I've actually got a hold of a decent site for aussie house price data and was surprised to note that all bar one state capital had recorded falls over the past six months. What exactly is keeping Adelaide positive I have no idea but it can't be long now...

I'm sorry but you simply havn't got a clue what your talking about. I'd suggest going down a pit for a 12 hour shift to get a feel for what I'm on about but since these are few and far between in UK these days you'll just have to take my word for it. Scargill was no angel and let down the miners in many respects. However he was a lot closer to the truth than Thatcher was. You will find that there was a huge amount of disinformation, smears and lies told about the miners cause. They had MI5 on us for christ sake. I really would urge you to do some research into this and not take it on face value. We could certainly do with a coal industry these days instead of relying on various russian gangsters for our energy needs. Like I say, the people of Britain, for their complacency and I'm alright jack attitude are getting exactly what they deserve.

Or maybe people should have shown solidarity for the miners in the first place instead of blindly believing all the total b*llsh1t of the Murdoch press and Thatcher. The miners were some of the most hard working, law abiding people of the UK and they were criminalised and f*cked over just for fighting for their livelihoods and communities. I saw that first hand. It's downhill all the way from here and I won't be shedding any tears when the end comes as it's well deserved.

Or the many millions who are out of work but never showed up in the statistics in the first place? There is an interesting correlation between the decreasing unemployment figures of the last 10 years and the increase in those claiming permanent incapacity benefit. If you also taken into account that a great deal of the new employment has been taken up by immigrants and you quickly come to the conclusion that the past decade of labour government has been a pack of lies, deceit and bullsh1t.

I agree, this is exactly how I see it. Unless QE is coupled with a policy of putting guns to bank managers heads and forcing them to lend then asset inflation just can't happen. With unemployment sky rocketing we also have a negative effect on wages. It's asset deflation for the foreseeable future.

I'm still learning a lot about economics. More out of forced necessity than any real interest. To me the key for the whole deflation vs inflation argument is the amount of money in peoples hands. Unless all this printed money ends up in peoples pockets there is very little inflationary pressure and certainly not enough to offset the black hole of debt it's being poured into. I'm not ruling out inflation or even hyperinflation but it all seems highly unlikely and very distant at present.

I was commenting on the decisions made by people on the thread. They seem fairly clued up and are ignoring the overwhelming negativity that's going on and making decisions that right for them. Obviously not everyone is as clued up as you average HPC poster so perhaps your foolhardy / wreckless comments could be applied to them.

How do you know other peoples financial circumstances? They may have a significant deposit / low mortgage and are fully informed of the risks. Perhaps they are willing to take a notional drop in value over the next few years because they've found a place that suits them. When is the bottom of this? Not everyone has to buy at the exact bottom to be declared a winner.

Instead of putting off life's major decisions because of the state of the economy. It takes courage to put that to the back of your mind and get on and do what you really want e.g. buy a house, have children etc.. That's what I was applauding. If you took the opposite attitude what the f*cks the point of getting up in the morning. Pass the cyanide.

Fooking hell are you trying to win the HPC Mr Doom award? We have been here before you know. There has been a constant back and forth between democracy and dictatorships ever since the golden age of Greece many thousands of years ago. We will muddle through all this somehow, we've been through a hell of a lot worse. To the OP and others good luck with your house purchase. You are to be commended for carrying on with your lives despite all this sh1te that's going on.

Slightly off the point but could anyone point me at some fairly neutral ozzie house price trend data? Something like the UK land registry. Another stupid question, is there such a thing as Property Bee for OZ? Cheers

I thought Spandau Ballets' - Gold covered by Ambrose Pritchard would have been pretty funny but that was hilarious.

Very true, however the depth of feeling is highly understandable when we seem to have exchanged one set of tedious smug w4nkers (property bulls) with another set of tedious smug w4nkers (gold bulls). If things do go a bit mad max I'll at least console myself with the thought of all the gold bulls being clubbed to death with their own bars.

I think that was the problem in the 1930s. The situation we have now is more akin to Japan in the 90s. We have banks which are technically bust being supported by the state so depositors aren't losing out. Zombie banks are depositors friends

Thanks for that. It actually made a lot of sense. I sincerely hope he's right and the bad guys get punished for once instead of all those with savings.

Absolutely spot on.

What's the difference between having a property portfolio then getting out there and writing articles, going on TV, posting comments in the right forums and those who have a holding in gold and do exactly the same thing? Ambrose Pritchard at the Telegraph is clearly vying for Phil & Krustys vacant crown. Disclaimer: I have a small hedge in gold and do not think gold is in the heights of bubble mania property was just yet.

Could it be he's sitting on a few cases of newly bought vintage scotch whisky and he's trying to pimp it's price up to gullible investors. Say it aint so

You don't seem to be getting the point I'm trying to get across. I am not arguing the rights and wrongs of gold ownership and it's place as a currency. I just really feel that message is out there now and people will either hold gold or not according to their own views on that. Much of what we are seeing now is ramping by people who have a vested interest in the price of gold rising. Or do you really expect me to believe people are out their publishing articles about the benefits of gold ownership because they are trying to help humanity?

OK... so these sort of articles are about providing a valuable public information service and not because the authors are sitting on rather large investments in gold. Thanks for clearing that up for me.