Roman Roady Posted January 29, 2012 Share Posted January 29, 2012 There's no need for the IMF when Merv is just a phonecall away. That tactic didnt work for Labour in the 70's!! Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 29, 2012 Share Posted January 29, 2012 The Female guest on Andrew Marrs couch this morning, said that the 'Richest 1000 people in Britain, have seen their wealth increase by a staggering £135 Billion in the last two years.' Its a war. And 99% of the country dont even realise it. oh I think they do, it's just they are trying to buy the burning house using a special mortgage scheme, whilst the rich, or smart, are heading for the safe with the treasury-backed blank cheques inside Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 29, 2012 Share Posted January 29, 2012 (edited) When all is said and done I don't believe the system will change in my lifetime, the next 50 years if I get lucky. If you can't beat them join them or learn how to work the system. After spending many years on this site I have learnt that complaining about is not achieving anything and it will not make you feel better either. This. It's a bit like the stock market - prices/trends can keep going much longer than you would believe.. and even though you may think there is strong justification for a reversal of trend, you would be much better off riding with the majority view. This site is great and has taught me a lot since I joined in 2007... but it is also heavily out of sync with the biggest wave out there - ordinary people. True, I think many of the predictions will come to pass, and the economic pulse is measured very accurately (definitely a very insightful forum!) but when you log off and speak to normal idiots (woops, I mean 'people') you realise you're trying to swim against the tide. Edited January 29, 2012 by guitarman001 Quote Link to comment Share on other sites More sharing options...
needle Posted January 29, 2012 Share Posted January 29, 2012 and are now going to go bankrupt because they never owned their home, the bank did. They never owned their car, the bank/finance company did. They never paid for their holidays, the Credit Card did. Oh yes, a country full of poor working people, who should never have been allowed anywhere near a credit agreement are about to go to the poor house. *****ers, the lot of them. Hester is entitled to his bonus because it's paid for by the millions of fecking idiots who are desperate to borrow money for that "dream house" and that shitty people carrier........who are also the tax payers who own RBS..... You couldn't make this sh1t up. A tragic country and no mistake. Only going to get worse as the muppets still want a new car and three holidays a year.......where's the fecking money coming from though?? Look, this is the reality. These people are not going to go bust. They are not going to lose their houses either. Successive governments have shown that keeping debtors afloat is their sole economic policy; savers and small businesses get shafted while mortgage holders and banks get subsidised. Its time to accept that. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 29, 2012 Share Posted January 29, 2012 The question is what to do having realised this? Move into BTL, play the game? Your main source of funding will always be your job, so try to get better at that and just save save save whilst building a big enough deposit so as to minimise mortgage interest payments over time? Try your hand at the stock market or similar with spare cash? I would say move away but every country has similar problems... so? Quote Link to comment Share on other sites More sharing options...
needle Posted January 29, 2012 Share Posted January 29, 2012 The question is what to do having realised this? Move into BTL, play the game? Your main source of funding will always be your job, so try to get better at that and just save save save whilst building a big enough deposit so as to minimise mortgage interest payments over time? Try your hand at the stock market or similar with spare cash? I would say move away but every country has similar problems... so? Let me put it this way, I know a family who are looking to buy. Spoke to the husband the other day and he cannot get a mortgage to buy a house for anywhere near current valuations - he's on an okay wage in a steady job. However, he can get (and has been offered several) BTL mortgages. Now the bank still wont loan the asking price but what they are offering is a far higher amount than a standard homeowner mortgage. However, the bank want a much higher deposit (i think he said 30%) and they want another 10% on deposit with them. This made me realise why BTLs are taking off at the moment. Its almost impossible to get a homeowner loan and, with the govt ensuring no one will lose their homes, prices are staying well out of reach of ordinary punters. A resolution of this situation is not inevitable nor, if it happens, is it close. Having dipped in and out of this site for the last 7 years I can say with certainty that this situation/standoff could continue for another 5 or 10 years. So, many posters who started out here in their early 30s could still be renting approaching their 50s. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 29, 2012 Share Posted January 29, 2012 So, many posters who started out here in their early 30s could still be renting approaching their 50s. I can see it, yes!! Ridiculous situation, but again, what is one to do? Just buy and get on with life? All down to personal circumstance, I guess. The future generation really will be screwed if prices stay the same and wages don't pick up. It'll be the same all over again but with prices even more ridiculous. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted January 29, 2012 Share Posted January 29, 2012 I'm really not sure if Hester is worth it. The RBS balance sheet dwarfs the UK balance sheet and the whole operation needs winding down to a sensible level. Also I gather the casino division is being scaled back and closed. However wouldn't a team of liquidators/administrators have been better and cheaper to do the task? The administrators took control of Lehmans pretty control. I think the government were worried that the RBS board would resign en mass, or were hoping they could gamble sufficiently to repay the taxpayer. Is this business really so complex that the country can be held to ransom? What happened to the living wills banks were supposed to create? Quote Link to comment Share on other sites More sharing options...
winkie Posted January 29, 2012 Share Posted January 29, 2012 It would change quickly if the clowns stopped borrowing money to buy useless shite khards. As usual, the people have the power, but they are too stupid to use it. ...the only time the poor feel rich is when they borrow money, just by spending it makes them richer than they would have been if they were forbidden to have access to that money.....by them spending what they have yet to earn also has the knock on effect of making others rich....it all implodes on itself when it comes to the pay back bit, it then makes the poor poorer, the money has been spent but the bill plus the charges still have to be met from the same income or less...... ....our debt has been growing faster than the growth required to cancel it out...therefore lots of borrowed money is an illusion of wealth for as long as it can last.....its days are over for now for the spenders.....the top elite where the cash has flowed to are sitting on it, they don't need it, and most of them have no intention of sharing any of it.....therefore the poor will spoil it for the rich. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted January 29, 2012 Share Posted January 29, 2012 (edited) The system would fold if the public stopped borrowing money to buy useless tat. The banks love people who want to be in debt for their whole lives. They can then pay themselves whatever they like, as the people got their shitty new build and crap car after all. It's the fecking capital that matters in capitalism, not the consumer possessions. Consumers are at the bottom of the food chain in our system, yet most people want it and are desperate to borrow more to get to the bottom quicker. Why? I agree, people who don`t like banker bonus season should stop borrowing money, and close their RBS accounts if they don`t like what is happening there. The RBS stuff is just a distraction from the Eurozone, this RBS guy got paid in shares not cash? didn`t he make some good profits/savings for the bank anyway? I don`t care about him, it`s the sheeple who are to blame and the sheeple who can change the system if they waken up a bit. Edited January 29, 2012 by dances with sheeple Quote Link to comment Share on other sites More sharing options...
SarahBell Posted January 29, 2012 Share Posted January 29, 2012 A tragic country and no mistake. Only going to get worse as the muppets still want a new car and three holidays a year.......where's the fecking money coming from though?? Someone I know is bleating because they are only having a week in Lanzorote this year. Poor love. Quote Link to comment Share on other sites More sharing options...
erranta Posted January 29, 2012 Share Posted January 29, 2012 The Government will continue to lie to us. Whats happening now is the system is being wound down slowly enough for bankers to extricate themselves from their bad debts whilst stripping everyone else of all their assets, pensions and savings. Now you see why "the ones in the know" (who frequent 'Gentlemens Clubs') have awarded themselves pay rises thousands of percent higher than the worker-producer proles since Thatchers 'Big Bang' Quote Link to comment Share on other sites More sharing options...
frederico Posted January 29, 2012 Share Posted January 29, 2012 Now you see why "the ones in the know" (who frequent 'Gentlemens Clubs') have awarded themselves pay rises thousands of percent higher than the worker-producer proles since Thatchers 'Big Bang' you can guarantee that their money is being siphoned away to a tax haven well out of reach. it's all going to come down though come what may, globalization and expanding the eurozone will never work until everyone is playing on the same pitch. Search for the poorest nation you have to compete with and that is your future. Quote Link to comment Share on other sites More sharing options...
erranta Posted January 29, 2012 Share Posted January 29, 2012 (edited) Server burp - double post Edited January 29, 2012 by erranta Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted January 29, 2012 Share Posted January 29, 2012 Someone I know is bleating because they are only having a week in Lanzorote this year. Poor love. Could have been worse, could have been 2 weeks. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted January 29, 2012 Share Posted January 29, 2012 Could have been worse, could have been 2 weeks. +1 I shall say that next time she mentions it. Quote Link to comment Share on other sites More sharing options...
Guest tbatst2000 Posted January 29, 2012 Share Posted January 29, 2012 I think you meant 'this is what happens when central banks control the money supply'. Actually, I'm beginning to think it's what happens when any one organization or person is allowed to control the money supply. Quote Link to comment Share on other sites More sharing options...
Spot Posted January 29, 2012 Share Posted January 29, 2012 This is what happends when private companies control the money supply. The problem is we have too many middle class consumers who are desperate to borrow money from these private companies to buy overpriced shoeboxes and crappy cars in order to feed their insecurities. Someone borrows 200k to buy a house and pays back 400k over the 25year mortgage........no wonder the banks laugh at the public and pay themselves massive amounts. The public are fecking muppets who on the one hand want that shitty car on credit, but then complain when the banks take all that interest and pay it to themselves. Idiots need to stop fecking borrowing in order to starve the banks to death........and the governments need to stop throwing billions of tax payers money at them too. Will these two things stop happening anytime soon? I doubt it. But what alternative to borrowing is there if you want to own your home? Real world example... In 1996 i'd saved £40k and bought a house with a £100k mortagage. If instead of getting a mortgage i'd just continued to save £10K a year for 10 years, in 2006 my £140K house is now "worth" £500K. Woopee doo. I've got £140K (+ interest) but now I now need about £360K to buy the house. And i've paid out 10 years of rent in the meantime and had anything of value devalued with inflation. Answer that and stay fashionable! :-) Quote Link to comment Share on other sites More sharing options...
MarkG Posted January 29, 2012 Share Posted January 29, 2012 But what alternative to borrowing is there if you want to own your home? Eliminate Labour's evil 'planning permission' laws, then you can buy a piece of land and build up a house on it over time as you have the money to do so. You know, kind of like our ancestors did for centuries before the glories of central planning came along. Of course you might have to spend your twenties living in a tiny house with one bedroom, a bathroom and a kitchen before you can afford to build more, but that's a better life than most twenty-somethings have today. Quote Link to comment Share on other sites More sharing options...
efdemin Posted January 30, 2012 Share Posted January 30, 2012 (edited) Eliminate Labour's evil 'planning permission' laws, then you can buy a piece of land and build up a house on it over time as you have the money to do so. You know, kind of like our ancestors did for centuries before the glories of central planning came along. Of course you might have to spend your twenties living in a tiny house with one bedroom, a bathroom and a kitchen before you can afford to build more, but that's a better life than most twenty-somethings have today. Um, I'm pretty sure the planning laws are just as much a conservative thing - i.e. the typical Nimby is a Tory. Our ancestors had to fight for the chance to own any land at all and it's only the past 150 years or so that home ownership has become usual for the majority. Maybe get your facts straight before going on a misguided rant next time? Edited January 30, 2012 by efdemin Quote Link to comment Share on other sites More sharing options...
Riedquat Posted January 30, 2012 Share Posted January 30, 2012 Um, I'm pretty sure the planning laws are just as much a conservative thing - i.e. the typical Nimby is a Tory. Our ancestors had to fight for the chance to own any land at all and it's only the past 150 years or so that home ownership has become usual for the majority. Maybe get your facts straight before going on a misguided rant next time? Dream on, nothing will get in the way of some posters' attempts at wanting to build more crap in an over-built-on country. Quote Link to comment Share on other sites More sharing options...
Guest_flaps_* Posted January 30, 2012 Share Posted January 30, 2012 Dream on, nothing will get in the way of some posters' attempts at wanting to build more crap in an over-built-on country. I wouldn't consider 6-7% overbuilt on. Quote Link to comment Share on other sites More sharing options...
MarkG Posted January 30, 2012 Share Posted January 30, 2012 Um, I'm pretty sure the planning laws are just as much a conservative thing - i.e. the typical Nimby is a Tory. But the Tories couldn't have got the law passed, because the left would have screamed about how they were trying to keep poor people out of their rural villages. 'Planning permission' was a Labour policy and Labour law, because they wanted to force the proles into lovely Stalinist tower blocks. Maybe get your facts straight before going on a misguided rant next time? Maybe you should try that. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 30, 2012 Share Posted January 30, 2012 Dream on, nothing will get in the way of some posters' attempts at wanting to build more crap in an over-built-on country. Nobody wants crap built anywhere......I am sure the owner of the village shop would welcome some new customers...shame there are not enough jobs, let alone living wage jobs about to service the cost of living in most of the nicer places people like to live in the UK. Quote Link to comment Share on other sites More sharing options...
tomandlu Posted January 30, 2012 Share Posted January 30, 2012 But the Tories couldn't have got the law passed, because the left would have screamed about how they were trying to keep poor people out of their rural villages. 'Planning permission' was a Labour policy and Labour law, because they wanted to force the proles into lovely Stalinist tower blocks. Maybe you should try that. Labour, Tory, Tory (in terms of the main modern planning legislation - 1947, 1955, 1990) Quote Link to comment Share on other sites More sharing options...
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