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Patrat

Gitterdammerung (the Twilight Of The Gits)

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An interesting commentary on HPI & the consequences:

Gitterdammerung (The Twilight of the Gits) – Or the coming cataclysmic property crash…

The current global property price boom is the biggest bubble in history – we are headed for a truly cataclysmic property crash. The consequences of the crash will be much greater than they would have been in the past as so many of us have become so dependent on property price inflation. Much of the wealth of much of the middle classes will be wiped out. But the consequences will be even greater than this…

It's worth a read.

Patrat

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:lol::lol:

This article is very good.

"Yet for some years now......seemingly intelligent, middle-class English people assume moronic grins and glazed looks that I had only seen before on Hari Krishnas, while they explain how their lacklustre two-bedroom flat, by the time that they retire, will equal the gross domestic product of Brazil."

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Great piece . There is one thing the author is wary of mentioning and that is the prospect of more war.

For me that is the likeliest outcome of the bubble bursting and im not sure if the author avoids the mention of it because he doesnt believe it or because he doesnt want to be too alarmist . But he did make a reference to Mussolini so perhaps he was hinting at the possibility of yet more conflict.

I believe the wars of 2001 and 2003 were directly as a result of the stockmarket collapse of 2000 onwards.

The DJIA was at 7700 and falling on the eve of the Iraq war and miraculously put on 3000 points in just over a year. They called it the Baghdad Bounce. The FTSE went from 3300 (and falling) to 5000 in the same period.

So brace yourselves for more war as that is the ideal reflationary tool allowing governments to pump lots of fresh money into the economy.

I hope he is right that the economic

fallout will see Labour out of power for a generation or even finsihed as a political force.

However I have doubts and wouldnt be surprised if they entrench themselves in power by some means as yet unrevealed.

It is curious he should mention Mussolini with regards to America and I wouldn't dispute that reading for a second. However when it comes to finding a modern equivalent of the current Labour government we could do worse than looking at Communist China.

Rigid social control by the state and harsh punishment of deviators on one hand allied with a freewheeling capitalism on the other hand.

That is the reality of Communist China and is increasingly the reality of UK life today.

I cannot bring myself to compare Labour with Mussolini or other fascists because they are clearly not racist so I am more inclined to draw comparisons with a country that I am very sure Mr Blair secretly admires a lot.

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I hope he is right that the economic fallout will see Labour out of power for a generation or even finished as a political force. However I have doubts and wouldnt be surprised if they entrench themselves in power by some means as yet unrevealed.

The increase in public sector employees & the underclass will help keep Labour in power until public sector redundancies occur & benefits are cut.

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It is the logical and rational conclusion to what we most fear will be the result of the HP madness following the dot com collapse which, itself, was madness.

As the SAU says - let's hope he's wrong and clear-headed intelligent people will prevail.

I fear not. :(:ph34r:

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Guest Riser

Fantastic article I particularly like the term “Balloon Juice”. I wonder how much more "Balloon Juice" the MPC members are prepared to pump into the economy with their rate cuts before they lose all credibility as independent professionals.

With the economy pumping balloon-juice, government could borrow more than ever at lower cost. So government kept schtum until virtually anybody outside of Wormwood Scrubs could get a mortgage, and many an otherwise honest couple were encouraged to lie, exaggerating income in order to buy a first home.

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S J Masty should quite clearly be running the world. The only thing that concerns me is that we're not living in rational times. I wouldn't be surprised if we see some bizare and unpredictable results from this bubble.

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An interesting commentary on HPI & the consequences:

Gitterdammerung (The Twilight of the Gits) – Or the coming cataclysmic property crash…

It's worth a read.

Patrat

Very very good: Everyone -- all you FTB's out there - EVERYONE should read this!! <_<

"property is 'overvalued' by 50% or more in Britain"

Edited by eric pebble

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Its a very good article and read.

The problem is we know it all makes sense but how does that affect the other 50 million people in the uk??

We need a trigger and a lower rate certainly isnt going to help.

HSBC though looks like its a bit pissed off with bad debts so could be a move in the right direction.

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:lol:  :lol:

This article is very good.

"Yet for some years now......seemingly intelligent, middle-class English people assume moronic grins and glazed looks that I had only seen before on Hari Krishnas, while they explain how their lacklustre two-bedroom flat, by the time that they retire, will equal the gross domestic product of Brazil."

Yeah, a sweet turn of phrase.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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