frozen_out Posted October 1, 2015 Share Posted October 1, 2015 Adds up to more pressure in the economy, and perhaps on house prices, in your general area 'piss in the ocean' of red-ink debts. Markets move at the margin. Right. I thought the 90% HPC was happening against a general backdrop of steady as she goes in the general economy? Markets move at the margin on the way up and down. You only need to be outbid by one person Quote Link to comment Share on other sites More sharing options...
longtomsilver Posted October 1, 2015 Share Posted October 1, 2015 Im really tempted to re-write my CV and fill it full of key words these councils look for and start applying for these none jobs.If/when i get an interview then really lay it on thick.It could be like a hobby.I prefer my 2 days a week self employment, but if i landed one i could always drop on the sick after a month,blag the 6 months full pay,6 months half pay then a redundancy. Much easier than working making steel. Why take the redundancy, when I took a job in the DWP there was a team leader who came back from long term sick a few months after I started and colleagues were joking that it wouldn't be long until she went off sick again and sure enough after about 6months (and I assume once her HR file reset) she went off sick again. She returned to work just as I was leaving after two years of service, no doubt to rinse and repeat. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted October 1, 2015 Share Posted October 1, 2015 I don't have a big mortgage. It currently stands at the princely sum of 2.6x my salary, and my equity is building every day. Anyone hazard a guess what I'm thinking? Quote Link to comment Share on other sites More sharing options...
frozen_out Posted October 2, 2015 Share Posted October 2, 2015 Anyone hazard a guess what I'm thinking?"My, that's not a bad position, maybe it isn't all doom and gloom afterall"?As an aside, the buying 10 houses comment was merely to show the absurdity of Vengers scenario. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted October 2, 2015 Share Posted October 2, 2015 "My, that's not a bad position, maybe it isn't all doom and gloom afterall"? As an aside, the buying 10 houses comment was merely to show the absurdity of Vengers scenario. Not many people will be in a position to buy ten houses though, so prices will need to adjust downwards to what the new generation can borrow? Quote Link to comment Share on other sites More sharing options...
workingpoor Posted October 2, 2015 Share Posted October 2, 2015 House prices can't carry on rising rising to stupid levels when people are earning peanuts and the stable jobs being done away with like at SSI. The government need people to keep going on the work treadmill, paying taxes and consuming and taking on long term debt to keep them on said treadmill of work. If they don't have any chance of owning a home and having the life chances the Boomers had then the danger is they will give up and go for the tax credit route / HB route (which im sure the numbers doing this has increased markedly hence the attempts to cut tax credits and HB for under 25's) I would prefer a house price correction in conjunction with an economic collapse. Quote Link to comment Share on other sites More sharing options...
sikejsudjek Posted October 3, 2015 Share Posted October 3, 2015 Funny how a Government that's trying to convince us that not having Trident leaves us defenceless doesn't mind closing steel works. Must be planning for a very short war... Clearly if this was a bank it would have to be saved. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted October 3, 2015 Share Posted October 3, 2015 I'm already being warn down by high prices, I used to kill myself at work on the basis I could buy a house. so did a lot of others who's houses were shooting up in value. I think a happy workforce is a productive workforce. Now you either have people who have overextended, not got wage inflation, not got increases in house prices. And are sitting facing a lifetime of crippling mortgage payments. They certainly are grumpy and non productive workers. The golden money stream has stopped! that's not what they signed up for! on the other hand you have people like me waiting on the side-lines for value. the years are wearing me down, I'm less and less productive. What's the point? but it's clear that a fresh recession will give me my drive back. And see a lot of people facing up to the reality of never ending negative equity and a lifetime as a poor decision making slave. definitely an I.Q difference between blind buyers and sensible HPC'ers. Quote Link to comment Share on other sites More sharing options...
billybong Posted October 3, 2015 Share Posted October 3, 2015 (edited) http:// www.theguardian.com/business/2015/oct/02/redcar-steel-plant-goes-into-liquidation It wouldn't be a complete surprise to see it ending up as a housing estate. Most everything else does in the UK. Edited October 3, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
reddog Posted October 3, 2015 Share Posted October 3, 2015 (edited) Government announced they will put together an £80 million package for retraining and regeneration in the area. The sad thing is the main beneficiaries from this will be service provision companies like Serco and the existing army of public sector workers who will be deployed to 'help'. It's depressing to think that for a public sector worker, the more dependent 'clients', the better It would actually be better to just divide the £80 million between the workers and tell them to do what they want with it, you might actually end up with a few flourishing businesses after that. Edited October 3, 2015 by reddog Quote Link to comment Share on other sites More sharing options...
billybong Posted October 3, 2015 Share Posted October 3, 2015 It seems so typical of the UK. More private sector jobs replaced by more public sector work plus benefiters. Quote Link to comment Share on other sites More sharing options...
durhamborn Posted October 3, 2015 Share Posted October 3, 2015 Government announced they will put together an £80 million package for retraining and regeneration in the area. The sad thing is the main beneficiaries from this will be service provision companies like Serco and the existing army of public sector workers who will be deployed to 'help'. It's depressing to think that for a public sector worker, the more dependent 'clients', the better It would actually be better to just divide the £80 million between the workers and tell them to do what they want with it, you might actually end up with a few flourishing businesses after that. The usual yes.I was involved in the REMPLOY closures and the millions of help etc.Iv yet to hear of any of the ex workers getting any help at all (or a job)Just free money like you say for the parasites.Far better to split the money among the unemployed workers.At least youd get some doing ok self employed and extra money in the local economy.If not the government would be better buying the plant and waiting until the steel industry picks up.Oh they cant because of the EU. Quote Link to comment Share on other sites More sharing options...
tinker Posted October 3, 2015 Share Posted October 3, 2015 (edited) Agree with the last few posts. The millions of support money will benefit the usual parasitic organisations while those losing their jobs will soon have a rude awakening about their new status - their unemployment being their fault. £80m seems like a lot of money for 1700 former steelworkers, that's. £47k per worker. Great shame we lost our way in previous decades and didn't think strategically regarding our skillbase and national assets. Bit late now. Nothing lasts forever. Had dealings with a local Remploy, impressive operation doing circuit boards, hung out to dry in the end. Politicians took a bit of heat; soon forgotten about. Poor buggers faced another rude awakening. Edited October 3, 2015 by tinker Quote Link to comment Share on other sites More sharing options...
bkkandrew Posted October 4, 2015 Share Posted October 4, 2015 Meanwhile over here it feels like 1997 all over again: http://www.bangkokpost.com/business/news/707528/banks-face-biggest-default-since-1997-crisis (From a few days ago when the writing was on the wall) Quote Link to comment Share on other sites More sharing options...
workingpoor Posted October 12, 2015 Share Posted October 12, 2015 Yep She's gone......... http://news.sky.com/story/1568234/redcar-steelworks-ovens-to-close-for-good Gone for good never to re-open. Quote Link to comment Share on other sites More sharing options...
reddog Posted October 12, 2015 Share Posted October 12, 2015 (edited) Sad news, naturally the news was pretty well buried on BBC, guardian, and telegraph. What do you expect its only some dirty steel plant up north, its not like we need to make anything anymore Edited October 12, 2015 by reddog Quote Link to comment Share on other sites More sharing options...
200p Posted October 13, 2015 Author Share Posted October 13, 2015 PUBLIC services could be scaled back if a local authority fails to salvage millions of pounds from SSI UK. That was the warning from Redcar and Cleveland Council as it revealed possible legal action to recoup unpaid business rates from the crippled steelmaker. .... SSI owes the authority £10.7 million in business rates for the 2015/2016 financial year, and failed to meet its first instalment of about £4 million on Thursday (October 1). http://www.thenorthernecho.co.uk/news/13801119.Council_leader_s_warning_over_SSI_UK_s___10_7m_of_unpaid_business_rates/ Quote Link to comment Share on other sites More sharing options...
200p Posted October 13, 2015 Author Share Posted October 13, 2015 Public reaction when Redcar was reopened in 2011 - we've come full circle Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 13, 2015 Share Posted October 13, 2015 PUBLIC services could be scaled back if a local authority fails to salvage millions of pounds from SSI UK. That was the warning from Redcar and Cleveland Council as it revealed possible legal action to recoup unpaid business rates from the crippled steelmaker. .... SSI owes the authority £10.7 million in business rates for the 2015/2016 financial year, and failed to meet its first instalment of about £4 million on Thursday (October 1). http://www.thenorthernecho.co.uk/news/13801119.Council_leader_s_warning_over_SSI_UK_s___10_7m_of_unpaid_business_rates/ That would be the bankrupt SSI, who are based in another country. Who's only UK asset is a steel mill and coke oven which is about to fall in on itself. Queue lots of posts on my FB (Im from the area). 'Anyone who votes Tory is a trator to their class' Forgetting the site went bust under Labour who put together this shyster company. And its was Labour stupid carbon credits at thecentre of this. Quote Link to comment Share on other sites More sharing options...
200p Posted October 13, 2015 Author Share Posted October 13, 2015 Some local reaction recently in this clip Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted October 30, 2015 Share Posted October 30, 2015 Steel crisis grows as Caparo cuts 452 jobs Administrator PwC announces immediate closure of five sites, with bulk of job losses concentrated in West Midlands 71 Quote Link to comment Share on other sites More sharing options...
billybong Posted October 30, 2015 Share Posted October 30, 2015 (edited) To be fair it's probably all Happy Smiling Faces in and around Redcar if the extravagent benefits/tax credit scams aren't clamped down on too much. No harm in some hefty whinging and expenditure on a few candles of course but it's likely that the real hit will be taken by those conned into spending years getting education, debt and experience to get skilled up for productive jobs which used to have maybe a small wages edge but now having to fork out in extra taxes as well as a market declining for productive skills - now earning about the same as the benefiters and that's if they have a job. Edited October 30, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
workingpoor Posted November 9, 2015 Share Posted November 9, 2015 Caparo Boss commits suicide: http://news.sky.com/story/1584194/angad-paul-steel-boss-dies-in-fall-from-flat Quote Link to comment Share on other sites More sharing options...
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