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Are The British Stupid?

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I have come to conclude that we are like the emperor and his new clothes after looking at two articles in the HPC news bar from today and yesterday. One talks about the fed raising interest rates to curb house price inflation, recognising that mortgage repayments and rent are the biggest outgoings for most people, and therefore have the biggest impact on people’s ability to spend.

"The Fed said it will move steadily to counter soaring housing costs and the high price of crude oil and petrol."

Also the New York times describes Americas 45% growth in house prices as a Bubble, and that it is bad for the economy:

"What's so bad about skyrocketing home prices? Almost everything. First, they make life awfully difficult for people who aren't already homeowners and do little for people who are, because selling one inflated house only to buy another affords little profit."

Contrast this with comments from a member of the BoE policy committee:

"The housing market, which rose 123 percent between early 1999 and the middle of last year, may well not have been in a bubble, Bank of England policymaker Stephen Nickell said on Tuesday." and "He repeated a long-held BoE reluctance to target asset prices when setting interest rates and speculated that in any case, the MPC would have had to raise them by 3 percentage points to halt what he called a "house price explosion"."

Doh!

Our country is run by a bunch of Muppets and we as a people (members of this forum excluded) are stupid enough to believe we are rich because estate agents tell us our two bed flat is worth £300,000 regardless of the fact that we can't afford to furnish it or go on holidays because our repayments are too high. It's like the story of the emperor’s new clothes, only a whole nation has fallen for the trick. When visitors come here, they don't look at our lives and think we are rich, but because Kirsty, Phil, Blair and the VIs tell us we are, we believe them. Britain is going to wake up in a year or so's time and realise it's been hoodwinked, and that we are standing bare naked on the world stage, posturing as super rich, but in reality a tatty little country so in debt it will take decades to recover. It's pitiful.

Wake up Britain...the value of your house doesn't make you rich, what you have in the bank, and how much you can spend without borrowing is what makes you rich.

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Too late, we have let these "economists" run our economy. Most have never run a business. Most have never had to hold down a proper job outside of govt. funded quangos where if things go wrong the taxpayer just coughs up some more money for another research paper.

The UK is now a horrendously expensive to live and work. One day the British public will wake up to the true meaning of what hidden inflation can do to your standard of living and the consumer driver for the economy will be gone. The fact that large sections of the rest of the economy will have by that time been marginalised, priced out, downsized or shifted abroad will mean that there will be no buffer or rebound from growth in those areas. Flooding the economy with cheap money has done nothing for the real economy, productivity is falling and investment is low - the banks would much rather spunk money into property than do anything useful with it, they lack the skills and knowledge to do so, they have disbanded the whole contact system with local business - they are plain not interested in the future, only in the quickest buck from hard selling a shed load of financial products (some of which are out and out scams) to the stream of suckers entering their doors.

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It's very scary really. I'm just glad I'm in pharmaceuticals. People still get ill when the economy crashes, it's almost entirely recession proof.

I just don't understand why they can't see it though, when the economists in America, who have a much smaller bubble to contend with, are hiking rates even after Katrina.

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It's very scary really. I'm just glad I'm in pharmaceuticals. People still get ill when the economy crashes, it's almost entirely recession proof.

I just don't understand why they can't see it though, when the economists in America, who have a much smaller bubble to contend with, are hiking rates even after Katrina.

The greatest trick the Devil ever managed was to convince man that he didn't exist..

The Greatest trick Gordon ever managed was to convince people that they were rich as they slid into massive debt..

How can you feel rich as you borrow tens of thousands against your house that you have to pay of..

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Too late, we have let these "economists" run our economy. Most have never run a business. Most have never had to hold down a proper job outside of govt. funded quangos where if things go wrong the taxpayer just coughs up some more money for another research paper.

The UK is now a horrendously expensive to live and work. One day the British public will wake up to the true meaning of what hidden inflation can do to your standard of living and the consumer driver for the economy will be gone. The fact that large sections of the rest of the economy will have by that time been marginalised, priced out, downsized or shifted abroad will mean that there will be no buffer or rebound from growth in those areas. Flooding the economy with cheap money has done nothing for the real economy, productivity is falling and investment is low - the banks would much rather spunk money into property than do anything useful with it, they lack the skills and knowledge to do so, they have disbanded the whole contact system with local business - they are plain not interested in the future, only in the quickest buck from hard selling a shed load of financial products (some of which are out and out scams) to the stream of suckers entering their doors.

Spot on.

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Guest The_Oldie
How can you feel rich as you borrow tens of thousands against your house that you have to pay of..

Beats me, I never felt as though I had any money until I had paid off my mortgage. Debt is debt plain and simple.

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Gordon Brown's "utopia" is achieved, as it has been by many

historic despots, by enriching the rich at the expense of the poor.

The small clique at the head of government - and I class commerce

and industry as an arm of the government - is becoming richer by the

second and distancing itself from the common throng (I class myself

as one of this throng) by legislation and by a new kind of ranking.

Separating itself from the traditions of this country - the monarchy,

the civil service, the Lords, local government and even, at times, the very Cabinet, this administration,

coupled with the "captains of industry" have created a new ruling class.

- Gosh, I sound just like Brainclamp -

It is the people whose taxes and curbed circumstances are funding

the bloated beaureaucracy (I can never spell that word) that feasts

itself in London.

But it has no foundation. It is monstrously in debt.

However, this matters not to those who rule for a short time and are

then deposed by a new government.

They care only for themselves - their brief time in office must be used

to enrich themselves to the hilt and to prepare and pension their

future.

As Gordon Brown is reputed to have said -

"There are two types of Chancellor - those that fail

and those that get out in time."

No, we are not stupid - we know what they are doing.

It is just that, at the moment, we have no valid alternative.

The Tories argue amongst themselves and keep offering nitwits in place

of leaders; the Lib Dems are still trying to decide what policies to have.

Meanwhile Labour has commandeered both right and left wings, elbowing

everyone out of the way - a brilliant political move.

Blair's charisma - his apparent sincerity - and Brown's mathematical

economics are a substantial force in government, but only 22% of the

population actaully voted them in.

And they are not invincible.

No, we are not stupid - we are patient.

Edited by justanewbie

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The UK is now a horrendously expensive to live and work. One day the British public will wake up to the true meaning of what hidden inflation can do to your standard of living and the consumer driver for the economy will be gone. The fact that large sections of the rest of the economy will have by that time been marginalised, priced out, downsized or shifted abroad will mean that there will be no buffer or rebound from growth in those areas. Flooding the economy with cheap money has done nothing for the real economy, productivity is falling and investment is low - the banks would much rather spunk money into property than do anything useful with it, they lack the skills and knowledge to do so, they have disbanded the whole contact system with local business - they are plain not interested in the future, only in the quickest buck from hard selling a shed load of financial products (some of which are out and out scams) to the stream of suckers entering their doors.

Well said. Saved me having to write it! :)

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Being in debt, having to do a job you hate just to pay off a loan, is one of the worst feelings I have ever known. Now I am truly rich (even though I don't own a home), I have modest savings, I buy things when I have momey to buy them and I owe no one a penny. I can choose what job I do and tailor my expenditure to the salary attached to that occupation. Debt is a curse.

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(Blair is not CoE)

jezzus well there you have it folks only a CoE PM could save us from all this mess. Halleluiah praise the proper lord and pass the ammunition ....exteminate all non believers [that'll be everybody else who was not signed up to the CoE brand of brainwashing in their formative years then ] exterminate..... exterminate........exterminate

Blair's charisma - his apparent sincerity

Yer right you mean to tell me people still fall for that false sincerity, what do they want .....it writing across the top of his forehead [by a CoE vicar naturally]

No, we are not stupid - we are patient.

Well I guess that sort of answers the thread header question then :rolleyes:

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Depends on your definition of stupid.

Our complex system of social organisation can only function if the majority conform to accepted behaviour at any time.

Thus most folk will "follow the crowd".

To deviate from the mass will incur ridicule at best, ostracism at worst.

People here will know about that with reference to "you got to get on the ladder".

The detatched observer might describe certain behaviour as stupid but to those involved it most certainly is not.

Now who is right?

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Depends on your definition of stupid.

Our complex system of social organisation can only function if the majority conform to accepted behaviour at any time.

Thus most folk will "follow the crowd".

Now who is right?

Herd instinct is a product of evolution. In one sense it would be wise for a Wilderbeast to stay in the herd, however, when a herd of cows are being driven towards the slaughter house by the farmer (as we are by Gordon Brown et al), herd instinct is not so useful. Intelligence is partly recognisable by the ability to overcome instincts by the power of logic, that is what differentiates us from the rest of the animal kingdom. So strictly speaking, if people just follow the herd without thinking they are acting stupidly, and therefore the British are stupid.

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1. Earn overvalued GBP and convert them to undervalued Gold

2. Don't buy crap you don't need. Save as much Gold as you can.

3. If you have a house sell it straight away and convert proceedings to Gold.

4. When you have enough, emigrate away from this shithole.

5. The UK Financial Reckoning day is approaching fast so you'd better be quick.

Note. I have lived and worked in four different countries. I can in all honesty tell you that the vast majority of British houses are

- ridicolously overpriced

- awfully small

- of unimaginably poor build quality

- ill maintained

- overwhelmingly ugly

Sadly, most of the above also apply to many other things British...

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Follow the crowd?

But follow the crowd and you follow a big stupid thing with the collective intelligence of a P.E Teacher..

and if any P.E teachers are reading this...

Congratulations.. (ha ha)

Remember.. he who laughs last.. laughs the longest..

Or perhaps didn't get the joke..

Or is just nuts.

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- ridicolously overpriced

- awfully small

- of unimaginably poor build quality

- ill maintained

- overwhelmingly ugly

Sadly, most of the above also apply to many other things British...

Well I've just come back from Russia, and you want to see what two well above average wages get you in Russia rent wise .........not very much.

Of course as Russia transforms to western style consumerism, a great divide is opening up. Absolute "Mafia" style wealth being flaunted openly, soaring property prices [talking Moscow here] and abject poverty for many especially the old.

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When I had a telly, which must be well over a year ago now, I saw GB giving some kind of interview. He was staring intently into the camera and said "Now you are all so much better off because your homes have increased so much in value compared to what they were 3 years ago".

I looked behind me to see who he was talking to. It came as a complete shock to me that the man addressing the nation obviously had their measure. He was telling them they were rich and they were believing it. It's what has kept that lot in power.

The illusion of wealth, built on snobbery, arrogance and stupidity. Only in the minority of cases do I believe desperation has played a part.

Is the truth sinking home? I think so but only very slowly. When I first came to this place that I rent which was beginning of April, my LL's were happily telling me how the place was worth x amount more than it was when they bought it last year. Now they have had it valued and it's less than they paid. They are also asking me things like "what is going to happen" and "Why if inflation is so bluddy low, is food is going up, bills are going up and we can't afford the stuff we used to?"

What do you say? Because you've been lied to and fell for it? Because you were so willing to be easily deceived? Because you wanted to say your home was worth nearly 1/2m, when in actual fact it wasn't worth half of that?

The scales are tilting.

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Guest growl

I agree with most of what you say, but I do not understand the point you are making with this?

Separating itself from the traditions of this country ...

the church (Blair is not CoE)

I thought Blair was CoE and what difference does it make if he is not?

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The illusion of wealth, built on snobbery, arrogance and stupidity. 

The wealth may have been an illusion but the huge debts that people have built up aren't, they will either have to be paid back or eroded by inflation.

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the british public are fairly stupid. where else can you hear a man boast about how his house has risen in price by 200%, then in the same breath complain his kids cant find affordable local housing.?

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head of the bank of england said that debt is real but house prices are a matter of opinion.

and the interest rates were dropped last time by votes from the members of the mpc appointed by Gordon Brown

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Am I imagining this...?

On or around the 1997 election (when New Labour got in) - did I see an interview on telly where Tony was saying that he wants everybody to have cheap monthly repayments on their mortgages?

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I agree with most of what you say, but I do not understand the point you are making with this?

I thought Blair was CoE and what difference does it make if he is not?

http://www.christianitytoday.com/ct/2004/141/51.0.html

This article states that his wife and kids are Roman Catholics and that Blair attends mass with them, but he is a member of the Church of England.

http://en.wikipedia.org/wiki/Tony_Blair

He was "born in a toilet cubicle in a pub called the Smiling Fool in Edinburgh" according to Wikipedia! Has someone been vandalising that article or is this the truth?

It seems that one set of his grandparents were Irish Protestants.

The Wikipedia article states that it is widely expected that he will convert to Roman Catholicism eventually and will be accepted into Roman Catholicism upon leaving office. I am not aware if he was ever a member of any Scottish churches.

To answer your question, I guess it has no bearing on any of this at all, except perhaps that it demonstrates what people often accuse Blair of, i.e. changing beliefs/allegiances when it suits him simply to get what he wants.

For example, did he not join the labour party for the sole purpose of wooing Cherie? Rather him than me. She's not exactly the brawest. He is also often accused of having no interest in the fundamental principles behind (old) labour and, I believe, has been been accused of effectively hijacking the party and all it stood for simply to get in power.

One other consideration might be possible restrictions on the Prime Minister's religion. I'm not sure if there are any, but you cannot be the Monarch of the UK if you are a Roman Catholic. Is this perhaps the same for Prime Minister?

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Blair is CoE - he hasn't converted to Catholicism you know. How is Catholicism / Nonconformity not part of this country's 'tradition'?

Jasus Mary and Joseph I GIVE UP!

By the way, T Bliar's mother's family were protestants in what is now the Republic of Ireland - and some of that family were known to treat the local RCs rather unpleasantly.

Edited by Vivaldo

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  • 302 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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