Jump to content
House Price Crash Forum
Sign in to follow this  
Guest

Money Week's Money Morning Email

Recommended Posts

Guest
And before we forget – put December 5th down in your diaries. That’s when Gordon Brown, MoneyWeek Chancellor of the Year since 1998, delivers his Pre-Budget Report. We’ll no doubt be treated to a speech full of favourable comparisons to the few global economies now growing more slowly than the UK’s. We can also expect several mentions of the impact of high oil prices on growth, while fingers will also be wagged at Europe, for hurting UK export growth by refusing to take Mr Brown’s advice on how to run an economy.

What he won’t mention is how his tax hikes and lavish public sector spending have hammered the economy. Nor will he breathe a word about the convoluted new stealth taxes he’ll have spent the past six months feverishly dreaming up.

But don’t worry – we’ll check out the small print for you, both here and in MoneyWeek.

These guys, jeez, I like their style!

:lol::lol:

Share this post


Link to post
Share on other sites

Today's times quotes the chancellor warming up to the pre-budget report:

On housing

'one of the things that struck me during the election was how many young couples were trying to buy homes for the first time' So far so good, then..

'In any other decade, except this one, the kind of house price rises we have seen in the last three or four years would have had the same effect (referring to how rising oil prices would have led to a recession in any other decade).

Goes on

Mr Brown makes clear that housing will be one of his priorities in the final years at the treasury. 'Something has to be done to increase the supply of housung' again, not bad

Then the killer...

'Various schemes are being drawn up to tempt more investors into housing and make mortgages more flexible, such as the much vaunted share equity schemes'

Share this post


Link to post
Share on other sites

They are not sitting on the fence are they! Does anyone here subscribe to Moneyweek? From what I've seen of it it would seem to be the a useful magazine to have.

Moneyweek is fantastic...I think a fair few folks on here read it. Been getting it since March and it's worth every penny - try the free subscription first though (like I did before getting hooked)

Share this post


Link to post
Share on other sites

I think mags like Moneyweek have long ago sussed Brown out whereas the trendy left wingers in the Beeb and Co are still in awe of Liebour being in power.

Basically, the UK economy is screwed. Simple as that.

We have the situation now where Public Sector jobs are increasing whilst private sector ones are decreasing. Public Sector workers have SUPPOSEDLY secure pensions - they may get a shock in 20 years time though - whilst private sector works have seen their pensions taxed away.

The enormous amount of debt that the UK is in is horrendous and everything is, currently, being ignored because of the feelgood factor of HPs over the past 5 years. It is economic madness.

Having said that, I am seriously considering going and getting a public sector job - if you can't beat them join them!

Share this post


Link to post
Share on other sites
Guest

I think mags like Moneyweek have long ago sussed Brown out whereas the trendy left wingers in the Beeb and Co are still in awe of Liebour being in power.

Basically, the UK economy is screwed. Simple as that.

We have the situation now where Public Sector jobs are increasing whilst private sector ones are decreasing. Public Sector workers have SUPPOSEDLY secure pensions - they may get a shock in 20 years time though - whilst private sector works have seen their pensions taxed away.

The enormous amount of debt that the UK is in is horrendous and everything is, currently, being ignored because of the feelgood factor of HPs over the past 5 years. It is economic madness.

Having said that, I am seriously considering going and getting a public sector job - if you can't beat them join them!

They'll get a shock in 20 years time when they find out their houses aren't worth anything anyway, because there's less young people to buy the ******* things.

Go and get that public sector job. You'll be in good company during the recession!

PS. You mis-spelled "Labour".

:lol:

Share this post


Link to post
Share on other sites
Guest Riser

Today's times quotes the chancellor warming up to the pre-budget report:

On housing

'one of the things that struck me during the election was how many young couples were trying to buy homes for the first time' So far so good, then..

'In any other decade, except this one, the kind of house price rises we have seen in the last three or four years would have had the same effect (referring to how rising oil prices would have led to a recession in any other decade).

Goes on

Mr Brown makes clear that housing will be one of his priorities in the final years at the treasury. 'Something has to be done to increase the supply of housung' again, not bad

Then the killer...

'Various schemes are being drawn up to tempt more investors into housing and make mortgages more flexible, such as the much vaunted share equity schemes'

Brown's economy depends on rising house prices without them he is screwed:

1. Less people MEW causing people to stop spending leading to higher unemployment and loss of the feel good factor that has lead people to turn a blind eye to his economic failings

2. Lower prices reduce tax receipts from Capital Gains, Inheretance tax, and stamp duty

3. Lack of HPI causes investors to flee the housing market adding to the speed of the crash

4. More pensioners meet needs testing criteria for pensions as value of property declines leaving them with less capital as they scale down

5. Negative equity and end of MEW leads to massive default on debt causing credit crunch as banks tighten leanding controls

6. Once Housing market is past tipping point Brown will order rush to increase interest rates to fight soaring inflation. Inflation will lead to wage inflation and unrest in the public sector.

7. Holding interest rates down too long will cause sterling to fall on FOREX and now we are a net importer of energy, real inflation will soar, as it has been doing for some time

8. less than a year after taking over from Blair early next year Brown will face a vote of no confidence and traditional labour will gain control once again. The Nu Labour experiment will end in failure

Share this post


Link to post
Share on other sites
Guest

I know you delibrately mis-spelled Labour - I was being sarcastic. ;)

PS. Thanks for your analysis, Riser!

Edited by megaflop

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.