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Rob MK

Ah But Its Different This Time!

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This is in relation to a few topics on here recently:

The subject of lie to buy mortages (nice term by the way, who ever...)

About 4 years ago I remember watching Newsnight (or a program of that sort) and the interviewer asked the building society rep and bank \ mortage lender that 'isn't the amount of money being lent and the resultant rise in prices a bit silly, dangerous and irresponsible. Its allowing the market to get into the dangerous situation that caused the 80's/90's crash?'

The reply from both?

wait for it, wait for it...............

'Ah but we're being much more careful who to and how much we lend'

I know a girl, no regular job, no ability to manage money got a mortage to buy her council flat, which she now rents and lives with her parents........

I tell this absoultly and resolutly a f**k*d up joke of a country, lies, greed, vanity, more lies.

Oh lord save us from ourselves and our own stupidty...........

Or I sit on money and enjoy the cheap cars, holidays, TV's to come?

Oh wait, I've been waiting 6 years to buy a house, what no crash, thats me f**k*d then!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Morals aside, that's the typical phenomenon of a bubble feeding itself. First all the investors with lots of money get sucked in, then the less wealthy want-to-make-money-quickly BTLs, and now it's the least affluent ones.

Your example indicates clearly that things have got out of hand.

edited for spelling

Edited by Plastic Elastic

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Don't worry,you'll get your crash, this economy is tipping and the world economic enviroment is no longer sympathetic as it has been for most of Brown's fortunate run.

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Don't worry,you'll get your crash, this economy is tipping and the world economic enviroment is no longer sympathetic as it has been for most of Brown's fortunate run.

fortunate run.. he allowed and shielded us from the truth of the £600,000,000,000 of extra debt the people he is meant to serve are now in.

He created the first purely debt based economy..

private sector jobs declining year on year.. Maunfacturing dropping.. Exports failing, cheap imports..

no good economic signs at all.

but we all kindly got ourselves £600,000,000,000 more in debt spent it in the economy..

Now we have to pay it back..

and Mr low inflation... a debt based economy does not do well with low inflation.. high inflation sinks the debt.. low stagnates it.

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Guest Charlie The Tramp
high inflation sinks the debt

Only if you get inflation busting pay awards, and that is very unlikely in this day and age, more like a reduction in real terms in your pay packet, and that will mean real problems for the serious debtors. <_<

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Guest Charlie The Tramp
What about people who've saved? Presumably their savings will get eroded too...

With increased IRs and a bit of prudence, as in cutting out non essential spending savers can carry out a damage limitation if fairly debt free. In the last crash and recession for some strange reason I appeared to be better off, managing to have seven holidays in Barbados paid for from the interest on investments. In 2003 I would have been lucky to spend a week in Bognor. <_<

Edited by Charlie The Tramp

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  • 337 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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