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Battenberg

The Great Home Lending Rip-off

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Homeowners are paying an average £1,800 a year extra for their mortgages as banks fail to pass on cuts in borrowing rates.

All the big lenders, including those saved from ruin by the taxpayer, are ramping up loan rates at the expense of families and businesses, a Daily Mail analysis has found.

Read more: http://www.dailymail.co.uk/news/article-12...l#ixzz0MXlpFzOz

It's those nasty bankers what dunnit and they're just holding up the recovereh.

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In a way I'm kind of uninterested in what they do with existing loans. The key thing for me is that people gain liberation from the slavery of debt by changing to a stance of refusing credit in principle.

The nastier the medicine right now maybe the better.

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In a way I'm kind of uninterested in what they do with existing loans. The key thing for me is that people gain liberation from the slavery of debt by changing to a stance of refusing credit in principle.

The nastier the medicine right now maybe the better.

The debt pimps never stand still - they always find a way to force you to take their drug (with the politicians help of course).

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The debt pimps never stand still - they always find a way to force you to take their drug (with the politicians help of course).

Sad but true. It's all about relativity. If everyone is borrowing - and being a numpty doing it -- it is well nigh impossible to be the odd one out NOT borrowing - in order to get by.... Things will only change when the majority of people REFUSE to become debt slaves. Prices will then adjust accordingly.

As I have said for 5 years now: Northern Rock, HBOS etc. --- They were house price pumping machines.

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Sad but true. It's all about relativity. If everyone is borrowing - and being a numpty doing it -- it is well nigh impossible to be the odd one out NOT borrowing - in order to get by.... Things will only change when the majority of people REFUSE to become debt slaves. Prices will then adjust accordingly.

As I have said for 5 years now: Northern Rock, HBOS etc. --- They were house price pumping machines.

I agree with most of what you say there Eric, and I most certainly hope nobody gets the wrong impression round here that I'm a defender of the finanical institutions, but I do hold to the line that it has to start at the personal level.

I just said goodbye to a nice little lady who's worked for me for 20 years in the factory and retires today. She knows more about economics than most people in business (remarkly it's true) and she and her husband have no debt whatsoever as they believe it's slavery. It's inspiring to listen to her because she's of such humble background yet she's held to old fashioned principles and avoided the temptation.

I'm not saying it's easy because so much propaganada acts against it, but it's doable if people want to.

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It's those nasty bankers what dunnit and they're just holding up the recovereh.

I would estimate that a very large number of people taht took out a mortgage over the past six or seven years, spent more time considering whether they would have cornflakes or rice krispies for breakfast, than they did on considering the implications of a 25 year loan without a fixed rate of interest.

TW/\TS!!!!!

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