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Escape Velocity Reached

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At least there is one comment that see the world as I see it!

“The Government and the Bank are working together to get households back on the crack,” Danny Gabay, Fathom’s director, said. “[They are saying] forget all that rebalancing, we’re going back to what we do best – debt fuelled consumer spending based on housing. What could go wrong?”

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At least there is one comment that see the world as I see it!

"The Government and the Bank are working together to get households back on the crack," Danny Gabay, Fathom's director, said. "[They are saying] forget all that rebalancing, we're going back to what we do best – debt fuelled consumer spending based on housing. What could go wrong?"

Thats why they reduced the effect of bankruptcy...cant have people stopping borrowing for 3 years+6...better just one year and offer guarantees.

Odd how a few economists get really horny about a few extra millions in MEW.

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At least there is one comment that see the world as I see it!

“The Government and the Bank are working together to get households back on the crack,” Danny Gabay, Fathom’s director, said. “[They are saying] forget all that rebalancing, we’re going back to what we do best – debt fuelled consumer spending based on housing. What could go wrong?”

It only goes wrong when the maths get in the way. Until that point is reached everyone feels rich.

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Well most of my friends and neighbours all MEWed away all/most of their equity in the 2000s .Prices here (NE) seem to of gone back up a bit to 10% below peak in good areas,25% below peak poor areas.

I doubt any of them have much left to MEW.A few have already gone under and lost the houses they bought for £25k in the early 90s that they MEWed up to £90k with the prices.They are now renting for £450 a month.They should of been mortgage free now and working less.Instead those holidays to Florida and new cars that are now old have ensured poverty for the rest of their days.

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Well most of my friends and neighbours all MEWed away all/most of their equity in the 2000s .Prices here (NE) seem to of gone back up a bit to 10% below peak in good areas,25% below peak poor areas.

I doubt any of them have much left to MEW.A few have already gone under and lost the houses they bought for £25k in the early 90s that they MEWed up to £90k with the prices.They are now renting for £450 a month.They should of been mortgage free now and working less.Instead those holidays to Florida and new cars that are now old have ensured poverty for the rest of their days.

so, renting=poverty?...a sweeping statement Mr DB.

Of course, the counter to the "money" argument, is that these people, in their short 3 score and 10 have had new cars and holidays to Florida.

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We haven't been able to reach escape velocity under our own steam since the likes of black arrow, (or was it blue streak or both).

There is a another huge round of job cuts in the pipeline as companies realise they can no longer to afford to empliy them in this super-inflated banker's paradise. It will only take one or two companies in each sector to push the button on employee replacement with automated systems and they will all be dragged aong the same route, the FIRE economy wil lthen be dismantled as the last bastion of employment creation.

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It really is comical. How can they possibly claim things are getting better as things seem to be getting exponentially worse.

Interest rates will rise at some point and government spending will have to be massively reduced. When these two things happen, which I am certain no one could argue that they will not, a lot of people are in for a very rough ride.

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It really is comical. How can they possibly claim things are getting better as things seem to be getting exponentially worse.

Interest rates will rise at some point and government spending will have to be massively reduced. When these two things happen, which I am certain no one could argue that they will not, a lot of people are in for a very rough ride.

What was it that Hilter said? ...

I think it went something along the lines of "If you repeat a lie for long enough, eventually it will be accepted as truth" :P

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The trajectory of our national debt is certainly heading for orbit.

Perhaps that's what the experts make-believe scientists mean?

UK_Budget(2013)_Figure1.jpg

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