HovelinHove Posted July 2, 2009 Share Posted July 2, 2009 Last week I posted an article about the fact that the SLC (schools learning council) had suddenly pulled all the projects it had committed to in Sussex (£450 million worth), today I was reading a business giveaway that said that virtually all major transport projects are going to be axed or put on hold (eg Crossrail). There is a lot of cutting going on in the background and this will have a devastating effect on employment and private sector income over the next year or two, but I'm wandering if it's a signal of some serious panic in government after the failure of their bond sale. Maybe they've suddenly woken up to the fact that they can't lend to themselves indefinitely and that since no one else is going to loan them money, they'd better stop planning to spend it on anything except their loyal voters. I'm starting to smell an IMF begging mission in the air, which will mean swingeing cuts to public services and payrolls. It will also mean a serious devaluing of our currency along with a hike in interest rates. These last days of the heatwave are like the last days of the idiotic spending spree that our nation has been on since 1997. Because of all this I believe that there will be no standoff in the property market after the summer. The private banks will ignore the government as they no longer have authority and will start fighting for any equity they can get their evil mitts on..repossessions will rocket, and forced sales will too. I expect to see record declines in prices in the period from Sep to May next year. Quote Link to comment Share on other sites More sharing options...
Pindar Posted July 2, 2009 Share Posted July 2, 2009 You have 666 posts. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 Thanks...not any more Quote Link to comment Share on other sites More sharing options...
CokeSnortingTory Posted July 2, 2009 Share Posted July 2, 2009 Wouldn't surprise me at all if the political class leave the most politically explosive cuts (i.e. benefits) to the IMF. Quote Link to comment Share on other sites More sharing options...
Pindar Posted July 2, 2009 Share Posted July 2, 2009 The biggest cut they could make would be the NHS. I think it is still the largest employer in Europe? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 2, 2009 Share Posted July 2, 2009 Wouldn't surprise me at all if the political class leave the most politically explosive cuts (i.e. benefits) to the IMF. You mean like last time. There does appear to be stealth cuts going on, despite of the lies from Liebour. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 Wouldn't surprise me at all if the political class leave the most politically explosive cuts (i.e. benefits) to the IMF. Very astute comment. The cuts that are happening at the moment are not being heard about in the mainstream media, if Brown tried to touch invalidity benefit or single mothers he'd be booted straight away. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 The biggest cut they could make would be the NHS. I think it is still the largest employer in Europe? I go into NHS hospitals every day. I spoke to someone recently who said that the work done in their hospital could be done by half the number of people employed to do it. I agree that anyone working as a contractor in the NHS is currently very vulnerable. Quote Link to comment Share on other sites More sharing options...
Johnny Storm Posted July 2, 2009 Share Posted July 2, 2009 if Brown tried to touch invalidity benefit or single mothers he'd be booted straight away. Cus of course all invalids and single mums make a point of voting in every election Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted July 2, 2009 Share Posted July 2, 2009 You mean like last time.There does appear to be stealth cuts going on, despite of the lies from Liebour. They're not cuts, they're "efficiency savings". Quote Link to comment Share on other sites More sharing options...
dr ray Posted July 2, 2009 Share Posted July 2, 2009 Yep, Gordon Brown was hoping an asteroid strike or UK scientists discovering how to make gold from base metal would save him and staked everything on the last throw of the dice. Sadly for all of us it has not worked out. Cutting infrastructure projects during a recession is like eating your seedcorn. Desperate times Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 Cus of course all invalids and single mums make a point of voting in every election No, but the people who do vote labour see these people as a kind of mascot for "compassionate liberalism". Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 Yep,Gordon Brown was hoping an asteroid strike or UK scientists discovering how to make gold from base metal would save him and staked everything on the last throw of the dice. Sadly for all of us it has not worked out. Cutting infrastructure projects during a recession is like eating your seedcorn. Desperate times Exactly. Crossrail was a vital part of the future of the Capital. Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 2, 2009 Share Posted July 2, 2009 Exactly. Crossrail was a vital part of the future of the Capital. It is a vital part and hasn't been cancelled. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 It is a vital part and hasn't been cancelled. Delayed until we can afford it....all but cancelled IMHO Quote Link to comment Share on other sites More sharing options...
bingobob777 Posted July 2, 2009 Share Posted July 2, 2009 Delayed until we can afford it....all but cancelled IMHO Link? Because it's not you know. Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 2, 2009 Share Posted July 2, 2009 (edited) Exactly. Crossrail was a vital part of the future of the Capital. of course, if things really go t*ts up, epochal transfer of skills and wealth to other international finance capitals - singapore, hong kong, then London may not need Crossrail after all as it won't have much of a future anyway. Edited July 2, 2009 by Si1 Quote Link to comment Share on other sites More sharing options...
Johnny Storm Posted July 2, 2009 Share Posted July 2, 2009 I thought that, if the current rail system can cope with peak employment, no point spending any money now as we start peak unemployment. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 Link? Because it's not you know. http://www.cityam.com/news-and-analysis/yyrz5u69qu.html OK, the report says could, but given what is going at the moment, and very valid points from other posters, this will be kicked into the long grass. Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 2, 2009 Share Posted July 2, 2009 I thought that, if the current rail system can cope with peak employment, no point spending any money now as we start peak unemployment. +1 Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted July 2, 2009 Share Posted July 2, 2009 (edited) Link? Because it's not you know. http://www.bloomberg.com/apps/news?pid=206...id=ahXPfZ2.uH.M Like old land for new housing projects? They probably include Royal Mail in that. Edited July 2, 2009 by sillybear2 Quote Link to comment Share on other sites More sharing options...
Injin Posted July 2, 2009 Share Posted July 2, 2009 I thought that, if the current rail system can cope with peak employment, no point spending any money now as we start peak unemployment. But how will we know that our new dictator is doing his job if there are no trains to run on time? And how will we send all the brown people to the ovens without a tip top rail network? The BNPers will want to know! Quote Link to comment Share on other sites More sharing options...
Johnny Storm Posted July 2, 2009 Share Posted July 2, 2009 And how will we send all the brown people to the ovens without a tip top rail network?The BNPers will want to know! We dont plan on using ovens or showers Injin, no point repeating past mistakes. Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted July 2, 2009 Author Share Posted July 2, 2009 July 2 (Bloomberg) -- Gordon Brown’s office said the government is committed to London’s 16 billion-pound ($26 billion) Crossrail project, saying planned future asset sales will help fund capital projects. That's it, it's game over for Crossrail :angry: Quote Link to comment Share on other sites More sharing options...
hedgefunded Posted July 2, 2009 Share Posted July 2, 2009 They're not cuts, they're "efficiency savings". Surely effieciency needs to be increased, not saved? Quote Link to comment Share on other sites More sharing options...
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