Mega Posted June 28, 2010 Report Share Posted June 28, 2010 "City of London"........dieing centre Northsea Oil/Gas........Falling away Uk Manufactoring........ http://www.telegraph.co.uk/finance/newsbysector/industry/7857941/UK-slides-in-manufacturing-rankings.html & one day they see that the UK is BUST! Mike Quote Link to post Share on other sites
Guest sillybear2 Posted June 28, 2010 Report Share Posted June 28, 2010 We cannot complete globally because our cost of living is so high, and unless houses are kept artificially inflated The City goes bust (again). Quote Link to post Share on other sites
Guest UK Debt Slave Posted June 28, 2010 Report Share Posted June 28, 2010 "City of London"........dieing centre Northsea Oil/Gas........Falling away Uk Manufactoring........ http://www.telegraph.co.uk/finance/newsbysector/industry/7857941/UK-slides-in-manufacturing-rankings.html & one day they see that the UK is BUST! Mike More terrifying still is the absolute ignorance and denial of the masses. Even more terrifying is the likely scenario that the same will accept 'government designed solutions' to the above when there is no solution without a drastic cut in living standards and quality of life for everyone, which of course are not 'politically acceptable' Conclusion: What a fekkn mess we are in! Quote Link to post Share on other sites
Tired of Waiting Posted June 28, 2010 Report Share Posted June 28, 2010 (edited) We cannot complete globally because our cost of living is so high, Exactly. BTW, I've updated my sig. See below. and unless houses are kept artificially inflated The City goes bust (again). Actually I've found out that the UK banks can absorb a loss of up to 150bn, according to the BoE. See thread on "Financial Stability". LINK: http://www.housepricecrash.co.uk/forum/index.php?showtopic=145958&view=findpost&p=2592601 Edited June 28, 2010 by Tired of Waiting Quote Link to post Share on other sites
Georgia O'Keeffe Posted June 28, 2010 Report Share Posted June 28, 2010 (edited) Exactly. BTW, I've updated my sig. See below. Its wrong They decrease the cost of buying sterling from other currencies Edited June 28, 2010 by Tamara De Lempicka Quote Link to post Share on other sites
easy2012 Posted June 28, 2010 Report Share Posted June 28, 2010 We cannot complete globally because our cost of living is so high, and unless houses are kept artificially inflated The City goes bust (again). Nah... Japan isn't any cheaper than UK and yet they are a manufacturing powerhouse... Quote Link to post Share on other sites
Tired of Waiting Posted June 28, 2010 Report Share Posted June 28, 2010 Its wrong They decrease the cost of buying other currencies Yes, in the short term, whilst the bubble is inflating, the pound was "strong" ( = high), making imports cheaper than our national products, and our exports more expensive abroad. Not very sustainable. And now we are where we are. Quote Link to post Share on other sites
Tired of Waiting Posted June 28, 2010 Report Share Posted June 28, 2010 Nah... Japan isn't any cheaper than UK and yet they are a manufacturing powerhouse... Japan fast growth in the 70s and 80s stopped when they had a property bubble, and they have been stagnant for 2 decades. Germany did much better (despite the huge costs of re-unification), and is still a strong exporter. Properties there are much cheaper than here - for workers, businesses and governments. All have lower costs. Quote Link to post Share on other sites
Georgia O'Keeffe Posted June 28, 2010 Report Share Posted June 28, 2010 Japan fast growth in the 70s and 80s stopped when they had a property bubble, and they have been stagnant for 2 decades. Germany did much better (despite the huge costs of re-unification), and is still a strong exporter. Properties there are much cheaper than here - for workers, businesses and governments. All have lower costs. and theyre better at football Quote Link to post Share on other sites
interestrateripoff Posted June 28, 2010 Report Share Posted June 28, 2010 More terrifying still is the absolute ignorance and denial of the masses. Even more terrifying is the likely scenario that the same will accept 'government designed solutions' to the above when there is no solution without a drastic cut in living standards and quality of life for everyone, which of course are not 'politically acceptable' Conclusion: What a fekkn mess we are in! At least we've got the football to distract us.... Quote Link to post Share on other sites
Tired of Waiting Posted June 28, 2010 Report Share Posted June 28, 2010 and theyre better at football Apparently... Though I can't explain that one. Cheaper football fields??? Quote Link to post Share on other sites
abharrisson Posted June 28, 2010 Report Share Posted June 28, 2010 "City of London"........dieing centre Northsea Oil/Gas........Falling away Uk Manufactoring........ http://www.telegraph.co.uk/finance/newsbysector/industry/7857941/UK-slides-in-manufacturing-rankings.html & one day they see that the UK is BUST! Mike I really can see what you mean..... the ciy is vibrant and theres no reason at all to belive it won't continue to be a strong financial centre, probably the strongest in Europe for many years to come ( in world terms though China/hong Kong will become the big new chief).... didn't they just make a new discovery in the north sea, aren't they also looking at all these north sea rim developments like nuclear and wind and haven't they just struck a new big field off the coast of eastern scotland.... equally if we still have an army to defned it theres the potential gushers in the flaklands to reap benefits from.. and if we get a look in some of the supposed mineral jackpots in afghanistan..... plus of course the devlopment of new techniques such as burning seams of coal under the north sea to produce powere ( like they do in australia)..... of course it won't all come off but things are cenrtainly not as dark as you make them out to be. Quote Link to post Share on other sites
bomberbrown Posted June 28, 2010 Report Share Posted June 28, 2010 and theyre better at football WASH YOUR FILTHY MOUTH OUT! Quote Link to post Share on other sites
Guest spp Posted June 28, 2010 Report Share Posted June 28, 2010 (edited) I'll throw in a massive pension deficit and a distinct lack of Gold and Silver mines!! Thank god we have a printing press! Edited June 28, 2010 by spp Quote Link to post Share on other sites
Errol Posted June 28, 2010 Report Share Posted June 28, 2010 I really can see what you mean.....financial centre, probably the strongest in Europe for many years to come Hmmmm ... Quote Link to post Share on other sites
Lepista Posted June 28, 2010 Report Share Posted June 28, 2010 Actually I've found out that the UK banks can absorb a loss of up to 150bn, according to the BoE. See thread on "Financial Stability". LINK: http://www.housepricecrash.co.uk/forum/index.php?showtopic=145958&view=findpost&p=2592601 Isn't the housing stock of the UK around the £4,000 billion mark? Even if only 25% of that is mortgaged, then the total UK loss is 10 billion per percentage point fall in house price. Oh dear. I wonder what they'll do to stop it? Quote Link to post Share on other sites
tomandlu Posted June 28, 2010 Report Share Posted June 28, 2010 Isn't the housing stock of the UK around the £4,000 billion mark? Even if only 25% of that is mortgaged, then the total UK loss is 10 billion per percentage point fall in house price. Oh dear. I wonder what they'll do to stop it? It's only a problem for the banks if There's a HPC They repossess and have to realise the falls Otherwise, the banks are fine - it's the borrowers who take the knock. Or have I missed something? Quote Link to post Share on other sites
acidreign Posted June 28, 2010 Report Share Posted June 28, 2010 Northsea Oil/Gas........Falling away Not according to this: http://www.guardian.co.uk/business/marketforceslive/2010/jun/28/premieroil Quote Link to post Share on other sites
Sourman Posted June 28, 2010 Report Share Posted June 28, 2010 You're forgetting our thousands of entrepreneurs! They will keep the country afloat, I'm sure... Quote Link to post Share on other sites
plummet expert Posted June 28, 2010 Report Share Posted June 28, 2010 Nah... Japan isn't any cheaper than UK and yet they are a manufacturing powerhouse... Just imagine if we had experienced properly controlled house price inflation over the last 30 years? We would not need the wages which make us so uncompetitive. High house prices are a key driver of wages even when they cannot keep up like now! It does play a good part in our problems. It also causes people to have a paper wealth that they do not earn and then want to mortgage out and spend, mainly on imports. That unbalances the economy too. We are not like Japan atall and have a very small manufacturing base now. In 1980, you could buy a very good house in many parts of the country for £30k. Quote Link to post Share on other sites
The Generation Game Posted June 28, 2010 Report Share Posted June 28, 2010 Not according to this: http://www.guardian.co.uk/business/marketforceslive/2010/jun/28/premieroil The figures in the budget didn't look too promising and surely they'd be on the optimistic side? Quote Link to post Share on other sites
jane58 Posted June 28, 2010 Report Share Posted June 28, 2010 Apparently... Though I can't explain that one. Cheaper football fields??? Germany plays more as a team.. in football and in working environments. Not so many individual egos. Quote Link to post Share on other sites
Guest sillybear2 Posted June 28, 2010 Report Share Posted June 28, 2010 Nah... Japan isn't any cheaper than UK and yet they are a manufacturing powerhouse... I dunno, they're being undercut by Taiwan and China and it causes them great concern. Quote Link to post Share on other sites
Guest sillybear2 Posted June 28, 2010 Report Share Posted June 28, 2010 The figures in the budget didn't look too promising and surely they'd be on the optimistic side? The North Sea is way off its peak, even find a new whale of a field doesn't change that trend :- Quote Link to post Share on other sites
huw Posted June 28, 2010 Report Share Posted June 28, 2010 It's only a problem for the banks if There's a HPC They repossess and have to realise the falls Otherwise, the banks are fine - it's the borrowers who take the knock. Or have I missed something? Other risks such as exposure (direct and indirect) to EZ sovereign debt. I doubt very much if debt-deflationary troubles will come singly ("indirect" meaning UK loans to French/German/other banks who hold even more EZ sovereign debt, rather than UK loans to the countries themselves). Quote Link to post Share on other sites
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