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Listening to a piece this morning about 8.45 ish regarding the wave of foreclosures in the US and the proportion of homeowners who are under water, the person interviewed mentioned that it wasn't just those with "liar loans" who were in trouble.

I thought Eric might be pleased.

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second mention noticed.....

I heard on the news (6.25pm roughly) on the way home self cert mortgages being referred to as Liar Loans. I made a fist in salute to this going mainstream - or beginning to. That was the 6 o'clock news on radio 4 today.

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Listening to a piece this morning about 8.45 ish regarding the wave of foreclosures in the US and the proportion of homeowners who are under water, the person interviewed mentioned that it wasn't just those with "liar loans" who were in trouble.

I thought Eric might be pleased.

Liar Loans drive up house prices generally. That means that honest people who can afford to buy a house legally, are forced to bid either a lot more for the same house, or buy a lot less house. They end up stretching themselves.

All you need then is a general rise in prices, and no wage increase, and you can get into trouble very quickly. If prices of houses fall too, not only can you not make the payments, but your house is in negative equity too.

What happens in the US, will happen here too.

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I heard them use the words "liar loans" on the BBC1 News at 6 last night, so not sure if this is some sort of deliberate decision to start using that sort of terminology to raise it in the public consciousness or just coincidence?

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Guest sillybear2

Liar Loans drive up house prices generally. That means that honest people who can afford to buy a house legally, are forced to bid either a lot more for the same house, or buy a lot less house. They end up stretching themselves.

All you need then is a general rise in prices, and no wage increase, and you can get into trouble very quickly. If prices of houses fall too, not only can you not make the payments, but your house is in negative equity too.

What happens in the US, will happen here too.

It did happen here... to them, mainly from AIG Financial Products in Fenchurch Street, London. It started in America and all that, so I wonder why they decided to locate their bubble factory in the most light touch cowboy country in the world, it really says something when they considered the regulations of Wall Street too onerous,

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Yep heard it as well, did a double take - it's made it to the States.

Very sombre report - felt those listening were thinking.......'it couldn't happen here could it?'

Maybe they are softening us up!

GMB chap who was on earlier was spot on for once for a union chap. Found Today's analysis of inflation was flimsy to say the least – totally ignoring the £200 billion of QE, the debasing of sterling......instead focusing on the cross party bullcrap of blaming those greedy developing nations for driving inflation.

Even at this level of journalism the so called professionals offering a news service just don’t get it. The only person i see in the MSM who ‘gets it’ is Liam Halligan.

Why can so many on HPC see the issues at play but the so called experts (especially these deflationist idiots) and journos just don’t see the bleedin obvious?!

This country is sleep walking into economic melt down and if we cannot see or understand the reasons why then i’ll be screwed if i want to stay in this wretched isle.

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Yep heard it as well, did a double take - it's made it to the States.

Very sombre report - felt those listening were thinking.......'it couldn't happen here could it?'

Maybe they are softening us up!

GMB chap who was on earlier was spot on for once for a union chap. Found Today's analysis of inflation was flimsy to say the least – totally ignoring the £200 billion of QE, the debasing of sterling......instead focusing on the cross party bullcrap of blaming those greedy developing nations for driving inflation.

Even at this level of journalism the so called professionals offering a news service just don’t get it. The only person i see in the MSM who ‘gets it’ is Liam Halligan.

Why can so many on HPC see the issues at play but the so called experts (especially these deflationist idiots) and journos just don’t see the bleedin obvious?!

This country is sleep walking into economic melt down and if we cannot see or understand the reasons why then i’ll be screwed if i want to stay in this wretched isle.

The problem is that you can get into legal difficulties if you call it as it is. Fraud. We have some anonymity.

Robert Peston's excellent documentary last week flirted at the edges with the word. He managed to get a few people to say it on camera, but he didnt say it himself.

I remember Maxwell, he sued anyone who called him a crook. Scared the life out of everyone, except one brave reporter, and she needed irrefutable evidence. Once the dam breaks however, we will all be calling it fraud.

It is good to see that some of the Parliamentary fraudsters are going to jail over this. Gives me hope that the bankster fraudsters will be spending a bit of quality time in jail too.

I just hope that we can go after the assets of these fraudsters. Monetary crime should also have a monetary penalty, a mandatory seizing of all assets of ten times the monetary value of the proven crime, including taking assets from spouses (there must be no safe hiding place). These trials must come. They are the only way to mend the broken system.

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Yep heard it as well, did a double take - it's made it to the States.

Very sombre report - felt those listening were thinking.......'it couldn't happen here could it?'

Maybe they are softening us up!

GMB chap who was on earlier was spot on for once for a union chap. Found Today's analysis of inflation was flimsy to say the least – totally ignoring the £200 billion of QE, the debasing of sterling......instead focusing on the cross party bullcrap of blaming those greedy developing nations for driving inflation.

Even at this level of journalism the so called professionals offering a news service just don't get it. The only person i see in the MSM who 'gets it' is Liam Halligan.

Why can so many on HPC see the issues at play but the so called experts (especially these deflationist idiots) and journos just don't see the bleedin obvious?!

This country is sleep walking into economic melt down and if we cannot see or understand the reasons why then i'll be screwed if i want to stay in this wretched isle.

please dont call deflationists idiots....why does any inflationist think they are QEing and bailing....Is it to fight inflation?...or is it to fight the black hole that opened up in credit markets in August 2007 and is still swallowing up chunks?

Deflationists see the reason...the outcome is in the hands of the PTB

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The problem is that you can get into legal difficulties if you call it as it is. Fraud. We have some anonymity.

Robert Peston's excellent documentary last week flirted at the edges with the word. He managed to get a few people to say it on camera, but he didnt say it himself.

I remember Maxwell, he sued anyone who called him a crook. Scared the life out of everyone, except one brave reporter, and she needed irrefutable evidence. Once the dam breaks however, we will all be calling it fraud.

It is good to see that some of the Parliamentary fraudsters are going to jail over this. Gives me hope that the bankster fraudsters will be spending a bit of quality time in jail too.

I just hope that we can go after the assets of these fraudsters. Monetary crime should also have a monetary penalty, a mandatory seizing of all assets of ten times the monetary value of the proven crime, including taking assets from spouses (there must be no safe hiding place). These trials must come. They are the only way to mend the broken system.

Thing is it is such a huge block of power the bangsters have calved themselves. Like a multinational glacier eroding all before it since the 80’s.

The only way i can see your very logical and just suggestions being in place is if a new political party comes to the fore. One that isn’t riven to party political crap. One that has no historical ties to the banking sector.

All 3 parties are under the sway of the money men and have created a perfect storm of lack of political knowledge (see cuckold Johnstone!) in economics, relying on ‘advisors’ and banking advise to create the fertile soils to do what they want.

Old established political lines of left and right are too outdated and frankly ideologically selfish to the electorate. I will perhaps ruin this post by referencing Chris Rock when he said that any sane, open minded person has some things they are liberal about and other things they are conservative about – we drastically need a political party that leads the country on what is best for the country in the long term; not short termist politically ideologies that leave the country open to the whims of political parties in making a show nor their silent masters in multi national financial institutions.

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I heard them use the words "liar loans" on the BBC1 News at 6 last night, so not sure if this is some sort of deliberate decision to start using that sort of terminology to raise it in the public consciousness or just coincidence?

IMO definately. Everything on the TV is planned for maximum social control. On the way up there was no need to tell sheeple about the mechanism driving prices, but as the bust takes shape, sheeple need to be reminded that they themselves played a part,to stop them getting TOO upset. To call something a liar loan implies that it is a loan given to LIARS, borderline criminals, every bit as shifty as the now despised bankers. IMO the hope is that the dissonance caused by this realisation will make many sheeple square up to their responsibility to pay back. However IMO if enough sheeple get the idea that they were preyed upon and cheated, there will be massive defaults, especially on vastly overpriced newbuild stuff bought in the last five years or so, already way into NE.

Edited by dances with sheeple

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Listening to a piece this morning about 8.45 ish regarding the wave of foreclosures in the US and the proportion of homeowners who are under water, the person interviewed mentioned that it wasn't just those with "liar loans" who were in trouble.

I thought Eric might be pleased.

:rolleyes:

LIAR LOANS have destroyed us. I have no doubts. And still very few people seem to understand that they AND THEIR CONSEQUENCES were ENDEMIC here in the UK -- and I reckon they're still being offered all over the place..... :rolleyes:

See all below. Read and watch the video.

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please dont call deflationists idiots....why does any inflationist think they are QEing and bailing....Is it to fight inflation?...or is it to fight the black hole that opened up in credit markets in August 2007 and is still swallowing up chunks?

Deflationists see the reason...the outcome is in the hands of the PTB

Good point. At risk of having misunderstood, I think Brave New World may have meant that the PTB (as you allude to) will never allow deflation to happen, therefore it's stupid to bet against them. There certainly hasn't been a government with access to a printing press that has ever let it happen before.

Edited by General Congreve

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Thing is it is such a huge block of power the bangsters have calved themselves. Like a multinational glacier eroding all before it since the 80’s.

The only way i can see your very logical and just suggestions being in place is if a new political party comes to the fore. One that isn’t riven to party political crap. One that has no historical ties to the banking sector.

All 3 parties are under the sway of the money men and have created a perfect storm of lack of political knowledge (see cuckold Johnstone!) in economics, relying on ‘advisors’ and banking advise to create the fertile soils to do what they want.

Old established political lines of left and right are too outdated and frankly ideologically selfish to the electorate. I will perhaps ruin this post by referencing Chris Rock when he said that any sane, open minded person has some things they are liberal about and other things they are conservative about – we drastically need a political party that leads the country on what is best for the country in the long term; not short termist politically ideologies that leave the country open to the whims of political parties in making a show nor their silent masters in multi national financial institutions.

I completely agree with that, except that such a new party won't work, even if it can somehow get itself large and noticeable enough and not just be regarded as another loony fringe party, and get there without having to become just like the other ones. The reason it won't work is that too many of the electorate are too willing to go along with the current parties. Taking a long-term, sustainable approach will not win you very many votes. You'll have a very hard time convincing enough people that churnining out a fortune in benefits and borrowing to pay for them is a bad idea, and that you won't do everything in your power to shove up the price of their house.

Anyone who can do all of that (get there without getting corrupted in the process, and persuade people to be sensible) will make me turn religious, because it would require nothing less than the second coming.

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  • 312 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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