Record Collapse In Business Lending

[Realistbear]

http://uk.biz.yahoo.com/18092009/325/recor...esses-july.html

Friday September 18, 10:07 AM

Recession

Record fall in lending to businesses in July

By Matt Falloon and Kylie MacLellan

LONDON (Reuters) - The flow of net lending to British firms fell in July by the biggest amount on record, the Bank of England said on Friday, in a further sign that more may need to be done to get credit flowing in the economy again.

And...according to the CML mortgage lending is down 13% MoM. All of this points to a nice pick up in house price crash speed before the winter months and dark nights set in.

[shedfish]

re. the CML numbers

</party hat and a pint of schadenfreude>

re. business lending

</helmet of doom and a security blanket>

[Lone_Twin]

<snip>

And...according to the CML mortgage lending is down 13% MoM. All of this points to a nice pick up in house price crash speed before the winter months and dark nights set in.

Do you have asource for that?

Thats properly interesting if correct.

Strange how it doesnt really fit with my experience localy though were house buying seems to have been pretty fast paced during the summer. Perhaps the market was jyst stripping out the nervous suckers with cash.

[drrayjo]

re. the CML numbers

</party hat and a pint of schadenfreude>

re. business lending

</helmet of doom and a security blanket>

Your avatar looks to have had a surfeit of foaming, nut-brown Schad already...

[drrayjo]

Do you have asource for that?

Thats properly interesting if correct.

Strange how it doesnt really fit with my experience localy though were house buying seems to have been pretty fast paced during the summer. Perhaps the market was jyst stripping out the nervous suckers with cash.

Summer drop in mortgage lending

Mortgage lending fell by 13% in August on the previous month, according to the Council of Mortgage Lenders(CML).

http://newsvote.bbc.co.uk/1/hi/business/8262418.stm

Cash buyers and Jonny Foreigner?

[Realistbear]

Do you have asource for that?

Thats properly interesting if correct.

Strange how it doesnt really fit with my experience localy though were house buying seems to have been pretty fast paced during the summer. Perhaps the market was jyst stripping out the nervous suckers with cash.

http://uk.biz.yahoo.com/18092009/325/mortg...-y-aug-cml.html

[Lone_Twin]

http://uk.biz.yahoo.com/18092009/325/mortg...-y-aug-cml.html

Just seen your other thread. Thanks.

Now where's Sibley I want to ram this down his neck.

Edited September 18, 2009 by Super Ted

[RDW]

http://uk.biz.yahoo.com/18092009/325/recor...esses-july.html

Friday September 18, 10:07 AM

Recession

Record fall in lending to businesses in July

By Matt Falloon and Kylie MacLellan

LONDON (Reuters) - The flow of net lending to British firms fell in July by the biggest amount on record, the Bank of England said on Friday, in a further sign that more may need to be done to get credit flowing in the economy again.

Another good reason for the FTSE 100 largest to go flying up, all the 'smaller' competition are being strangled to death.

[shindigger]

Do you have asource for that?

Thats properly interesting if correct.

Strange how it doesnt really fit with my experience localy though were house buying seems to have been pretty fast paced during the summer. Perhaps the market was jyst stripping out the nervous suckers with cash.

Yes.

Plus all the idiots falling for schemes like Genesis and Fairview.

http://www.fairview.co.uk/general.asp?article=incentives.xml

The ads in this mornings Metro were shameful.

Targeting the bank of mum and dad while "houses are affordable".

They should all be jailed.

[tomandlu]

Question - is it required that we have a general credit crisis to have an HPC?

i.e. does business lending have to crash if irresponsible mortgage lending is to crash?

[Realistbear]

Question - is it required that we have a general credit crisis to have an HPC?

i.e. does business lending have to crash if irresponsible mortgage lending is to crash?

Small businesses employ more people than big ones in this country. Destroy the jobs and the rest of the economy collapses.

Unemployment is THE big factor.

I am beginning to regret converting one third of my $ into sterling (at 1.49 last December). The $ may be in trouble but we are in double trouble.*

_____________________________

*Not to be confused with SRV's band of the same name.

[Guest Parry aka GOD]

http://uk.biz.yahoo.com/18092009/325/recor...esses-july.html

Friday September 18, 10:07 AM

Recession

Record fall in lending to businesses in July

By Matt Falloon and Kylie MacLellan

LONDON (Reuters) - The flow of net lending to British firms fell in July by the biggest amount on record, the Bank of England said on Friday, in a further sign that more may need to be done to get credit flowing in the economy again.

And...according to the CML mortgage lending is down 13% MoM. All of this points to a nice pick up in house price crash speed before the winter months and dark nights set in.

Can't even get finance for confirmed contracts which will turn a big profit now. Seems we need to find a new form of the means of exchange of goods and services.

This is now stupid and gone too far. Good businesses are going to fail . . . needlessly.

[shindigger]

Question - is it required that we have a general credit crisis to have an HPC?

i.e. does business lending have to crash if irresponsible mortgage lending is to crash?

I dont think the banks are lending irresponsibly any more.

Theyre trying to get punters to deposit irresponsibly instead. Nice 40% cushion.

Luvverly jubbly oink oink.

So now its just a question of how stupid people are..........

Oh dear

Edited September 18, 2009 by shindigger

[mbga9pgf]

Question - is it required that we have a general credit crisis to have an HPC?

i.e. does business lending have to crash if irresponsible mortgage lending is to crash?

As tescos says, every little helps.... it more a confirmation of the condition of the uk economy than a direct stressor to UK house prices perse...

[nobody777]

This Labour government well all governments is only interested in one thing POWER and as stated THEY WILL DO WHATEVER IT TAKES which means inflation.

The comments the BOE may need to do more is the kicker they probably well print some more money and its working and I expect the loose fiscal policys to continue until the next election propably in MAY 2010 unless the bond market says NO

House prices will or should go down for me but probably not until the next election and I think they will go up another 10% or more until then but clearly they are over priced and thats why inflation is needed to do its magic.

For me these are scary times and its odds on for me this loose fiscal phaze will blow up big time resulting in massive deflation or some kind of high or hyperinflation I hope the government can navigate things smoothly and if they do they need credit for it.

It is possible interest rates will stay low around 0% for decades and if this happens I would expect houe prices to double but the risk if this happens if we hit another downturn that cant be stoked with lower rates than a real proper downer could happen with no tools to stop it.

What will happen I dont know but keeping an eye on things is a must

[Guest KingCharles1st]

Can't even get finance for confirmed contracts which will turn a big profit now. Seems we need to find a new form of the means of exchange of goods and services.

This is now stupid and gone too far. Good businesses are going to fail . . . needlessly.

+ 1.......million!

WHY WHY WHY cannot the ******ing powers that be REALISE the screw has been turned way too far now.

It's like a spring- over compress it, and when the pressure is released, instead of bouncing back to it's previous state- it just lies there- limp, no energy- totally ******ed- useless

Brown/all of them need to go Xtreme hillwalking - c unts

Edited September 18, 2009 by KingCharles1st

[Traktion]

Separately, the BoE published provisional figures for broad money supply growth -- an indicator back in vogue as a way to gauge if QE is working.

In August, M4 broad money supply grew just 0.1 percent after

a 1.3 percent rise in July. On the year, M4 was 12.6 percent higher -- the weakest annual rate since September 2008.

12.6% higher!? I don't know what it usually is, but if broad money is/was growing that quickly, isn't that a recipe for high price index inflation?

"The likelihood of a significant pick-up in lending remains weak, but the prospects for wholesale funding markets are improving," CML economist Paul Samter said in a statement.

- oh stop... it hurts!

[Guest Parry aka GOD]

+ 1.......million!

WHY WHY WHY cannot the ******ing powers that be REALISE the screw has been turned way too far now.

It's like a spring- over compress it, and when the pressure is released, instead of bouncing back to it's previous state- it just lies there- limp, no energy- totally ******ed- useless

Brown/all of them need to go Xtreme hillwalking - c unts

This is contracts that would bring in money from abroad too. Export credit guarantee scheme now gone so I guess they're all getting the shakes.

Carries on like this . . . forget any employment. Back to the . . . land?

[Injin]

+ 1.......million!

WHY WHY WHY cannot the ******ing powers that be REALISE the screw has been turned way too far now.

It's like a spring- over compress it, and when the pressure is released, instead of bouncing back to it's previous state- it just lies there- limp, no energy- totally ******ed- useless

Brown/all of them need to go Xtreme hillwalking - c unts

THey don't care - as long as they can pay their bills everything is hunky dory as far as they are concerned.

[Traktion]

For me these are scary times and its odds on for me this loose fiscal phaze will blow up big time resulting in massive deflation or some kind of high or hyperinflation I hope the government can navigate things smoothly and if they do they need credit for it.

Credit for it? They built the mountain of debt over the last few decades in the first place! Even if they manage to paper over the cracks one more time, judgement day will come - how many times can you borrow from the future to stop the present collapsing?

[Guest Parry aka GOD]

THey don't care - as long as they can pay their bills everything is hunky dory as far as they are concerned.

Sadly I believe so.

[the_duke_of_hazzard]

Do you have asource for that?

Thats properly interesting if correct.

Strange how it doesnt really fit with my experience localy though were house buying seems to have been pretty fast paced during the summer. Perhaps the market was jyst stripping out the nervous suckers with cash.

Various analyses have been done - LTV's are falling, so cash is being tempted out of its hole. Which is what "they" want you to do, so the banks can deleverage their loan books.

[non frog]

.... WHY cannot the ******ing powers that be REALISE the screw has been turned way too far now.

....

They do. It was known in 2005 if not before that.

What no-one (absolutely no-one at all) knows is what to do about it.

All the world's governments are doing the best they can and hoping it will turn out right. Whether or not it will remains to be seen. Any UK policy change now will make little difference TBH.

[Injin]

They do. It was known in 2005 if not before that.

What no-one (absolutely no-one at all) knows is what to do about it.

All the world's governments are doing the best they can and hoping it will turn out right. Whether or not it will remains to be seen. Any UK policy change now will make little difference TBH.

Nah, cancel the legal tender law and it'll all be over by next friday.

[MinceBalls]

Various analyses have been done - LTV's are falling, so cash is being tempted out of its hole. Which is what "they" want you to do, so the banks can deleverage their loan books.

Exactly, the 'powers' that be - and I include the city as well as the government - care about nothing more than deleaveraging the pile of poo the banks have on their books. And Ideally they want to do this by stealing everyone elses' money without anyone knowing. At the minute they are doing a rather good job of it - they have the national media 'onside'. Can this carry on?