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Guest Time 2 raise Interest Rates

You Can't Blame Them

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Guest Time 2 raise Interest Rates

The media and the VIs that is, Oh! mustn't forget the BBC.

Having said that, I don't totally agree with their methods. The

way I see it, they know only too well what's coming and there's

not a great deal they can do about it, other than try their utmost

to keep consumer confidence on the up with Christmas just around

the corner. I mean, retail sales are at a 22 year low, GDP has

been nigh on halved, repossessions are up, bankruptcies are up,

things aren't looking too good.

We're not talking about some two bit company here, having a difficult

time, we're talking about the British economy. House prices and

consumer spending makes up nigh on 75% of our economy. All the spin

and propaganda isn't going away any time soon. I don't expect the banks,

building societies, retailers to roll over and let everything crumble around

them without putting up a fight.

I think the reason some here get rather frustrated with reports from

the Halifax and such like, is because they know exactly what's happening

with regards to the housing market. Having done their own research,

they know only too well prices are down 10-15% yoy in most places. I

guess you've just got to let things take their own course and all the spin and

PR is just part of that process. Well, that's the way I see it.

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The way I see it, they know only too well what's coming and there's

not a great deal they can do about it, other than try their utmost

to keep consumer confidence on the up with Christmas just around

the corner.

I disagree(slightly) I don't think they recognise what is coming, I think they just fear deep down what might happen, that horrible gut feeling you CAN'T explain. The classic signs are denial of bad news and jumping on anything that serves their view that prices go up and its good for everyone.

I admit we do it here as well. But it doesn't mean we aren't right, its gone to far.

THe point is that the BBC is not one entity as it is portrayed, it is an organisation that includes many journos reporting, I bet most of which have above average salaries, with a lot invested in property. And once the editors see the work, they are probably in the same position and don't realise how 'vested' they are.

Its like thin people not understanding how hurtful it would be to be called fat. They just wouldn't know.

Imagine a young (priced out FTB) buck journo new to the beeb wanting to cut his teeth writing a piece about the trouble ahead. I am sure he would be told "I know your keen, but this isn't the kind of thing we would produce here, read some of the other more experienced writers and think again". I beleive the BBC and other write a load of crap, but I don't believe its a conspiracy where the board level agree to pull all bear news.

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Housing reports were ALL OVER THE BBC every day during the boom, I recall.

In slight fairness to the BEEB (dare I say, dare I say) I've noticed a tendancy to report NOTHING on the housing market on the majority of days (bbc web site). I wonder if the average man has noticed this change? Because it is a change, even if they do spout the occasional VI spin. It must look as pathetic to Joe Average as it does to us.

(Not that we're not Joe Averages, of course).

My friends (who are definately Joe Averages) seem hesitant and mildly confused by the situation, "Oh but the BBC said that Halifax said that 1.6%..." and then they tail off when then see the unmoved look on my face.

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Guest Time 2 raise Interest Rates

Conspiracy theories, bulls and bears, joe public, amateur

economists, they're all here. If people can't see the housing

boom of the last five years has been created by the media to

save the economy after the events of the dot.com fall-out and

9-11, then more fool them. Why is it if you question the powers

that be you're looked upon like you think there's some kind of

conspiracy theory going on? Big business is rotten to the core.

They don't care who they take down with them as long as they

keep their profits up and their shareholders happy. They will

say and do whatever is necessary to get the desired results.

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I mean, retail sales are at a 22 year low, GDP has

been nigh on halved, repossessions are up, bankruptcies are up,

things aren't looking too good.

You forgot a weak pound. Imports will cost more. How much stuff from Dixons etc. is imported? Most if not all. And people purchase in dollars. Not a chance houses will rise much more, because at each step you have less expendable income (money spent at dixons etc.) You can't have wage inflation just to support high house prices. Just doesn't work, because then you have more expendable income, as houses become cheaper, resulting in price inflation and then you end up in a wage/price spiral. I'm pretty sure you can't support a house market without new buyers coming into the market.

So with each increase in value, you need a similar increase in wage inflation, which..or wait we're back to square one again, inflation spirals, this leads to what Gorgon Brown didn't want: Boom and bust, well looks like that's to late now. The BOE should have never made IR so low and the banks shouldn't have set such loose lending rates, then things would be more stable. 22 year low for retail sales is hillarious imo :lol: . Oh yeah when you're not selling jack shit, you can't offer your employees more money...

So we have:

a) a weakened currency

B) no high street sales

c) more debt than ever

d) more people declared bankrupt

e) higher cost of imports

Nice. :unsure:

Edited by George

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If people can't see the housing boom of the last five years has been created by the media to

save the economy after the events of the dot.com fall-out and

9-11, then more fool them. Why is it if you question the powers

that be you're looked upon like you think there's some kind of

conspiracy theory going on?

Or perhaps the fall in interest rates after 9/11 made borrowing cheaper, which pushed house prices higher and started the bull-run.

There is no media conspiracy. Do you honestly think journalists get called in to secret meetings to receive instructions from their masters?

This site is an excellent source of insight and facts - paranoid ravings do it no favours :angry:

Edited by Europa

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Or perhaps the fall in interest rates after 9/11 made borrowing cheaper, which pushed house prices higher and started the bull-run.

There is no media conspiracy. Do you honestly think journalists get called in to secret meetings to receive instructions from their masters?

........yes I do....and it doesn't stop there.I suspect that the politicians are under the same influence,which is why rich get richer and poor get poorer irrespective of who you vote for.

....the blackmail used is:

if you tax us then we will bugger off out of the country,leave you all jobless and destitute....but if you do what we tell you we'll give you a seat on board x and a couple of million quid in consultancy fees.

so much for democracy.

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  • 335 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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