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crock

Banks Starting To Pull The Plug !

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Local small businesses starting to go bust - have you noticed any around your area ?

Local plastic window and conservatory business that has been trading for over 25 years has gone into liquidation this week. Owner offered to re-mortgage his house in order to ride the slow market. The bank manager refused to accept and stated " if you have been unable to make a profit the the last 12 months you certainly will not be able to in the next 12 months - call it a day now and keep your house "

Local Koi fish pond shop also gone bust - Poor sales last 12 months and bank calls it a day. Owner tells me many garden centre related businees will be going bust big time very soon.

FOUR local lorry business that deliver aggregates to the construction industry have gone bust due to reduced work load and high fuel prices - All have been running a less than cost for over a year ?

When you think of how many business are linked to debt boom we have just had - how many more are going to go to the wall ?

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Local small businesses starting to go bust - have you noticed any around your area ?

Local plastic window and conservatory business that has been trading for over 25 years has gone into liquidation this week. Owner offered to re-mortgage his house in order to ride the slow market. The bank manager refused to accept and stated " if you have been unable to make a profit the the last 12 months you certainly will not be able to in the next 12 months - call it a day now and keep your house "

Local Koi fish pond shop also gone bust - Poor sales last 12 months and bank calls it a day. Owner tells me many garden centre related businees will be going bust big time very soon.

FOUR local lorry business that deliver aggregates to the construction industry have gone bust due to reduced work load and high fuel prices - All have been running a less than cost for over a year ?

When you think of how many business are linked to debt boom we have just had - how many more are going to go to the wall ?

Crock you right, the small guy contractors to the building industry, and small business's servicing the invest in your house market to add value. Are the ones to buckle first, and the banks tightening means they think it's going to be more than a twelve month down turn. In short things are going to get alot worse before house prices make a sustained recovery, there is a lot of fat to work off this housing market.

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we had milk man knocking on the door begging for orders, as they were all being made redundant! made the order, but no delivery's, looks like it was too late...

leyland daf have just stopped production locally also, very slow sales, and they have run out of finance!

its not looking good round here

Birmingham

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our local casino went bust.

they had two sevens and a ten of hearts.

That's funny.

What's also funny is that if you google 'veritas' it comes up with Veritas Party - The Official Website of the Veritas Party, The poltical party launched by Robert Kilroy-Silk whereas on said site itself of Mr K-S there is no trace.

How come?

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Local small businesses starting to go bust - have you noticed any around your area ?

Local plastic window and conservatory business that has been trading for over 25 years has gone into liquidation this week. Owner offered to re-mortgage his house in order to ride the slow market. The bank manager refused to accept and stated " if you have been unable to make a profit the the last 12 months you certainly will not be able to in the next 12 months - call it a day now and keep your house "

Local Koi fish pond shop also gone bust - Poor sales last 12 months and bank calls it a day. Owner tells me many garden centre related businees will be going bust big time very soon.

FOUR local lorry business that deliver aggregates to the construction industry have gone bust due to reduced work load and high fuel prices - All have been running a less than cost for over a year ?

When you think of how many business are linked to debt boom we have just had - how many more are going to go to the wall ?

Its's interesting that the aggregate delivery business have gone under - there still seems to be a lot of construction work going on though so i am surprised at this and I haven't noticed a dowturn for local tradesman yet - they still seem to be able to charge a fortune - make a mess and not turn up on time or not at all.

architect client noticed a drop off in work about 12 months ago and he thinks his industry gets to notice the start of a recession at an early stage

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Its's interesting that the aggregate delivery business have gone under - there still seems to be a lot of construction work going on though so i am surprised at this and I haven't noticed a dowturn for local tradesman yet - they still seem to be able to charge a fortune - make a mess and not turn up on time or not at all.

architect client noticed a drop off in work about 12 months ago and he thinks his industry gets to notice the start of a recession at an early stage

construction is mixed.

goverenment work(pfi etc) is going along just fine.

new housing is down about 20% on recent years.

extensions etc still seem to be holding up. i think it is becase people still believe they are investing their cash wisely in assets that are at worst not dropping in value.

this is exactly the same as the last crash( 1989-1992)

all of my contacts in building materials supplies expect 2006 to be as tough as 2005- plus they have all got huge hikes in energey prices to absorb

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i was discussing similar matters with a colleague only yesterday - there are no end of small companies doing garden/landscape work etc. one can see the vans trundling around all over the place, usually with trailers attached carrying small diggers and the like... i wonder how many will survive, bearing in mind that gardens can always be "slabbed over" during a downturn. :P

i know of several small businessmen who have remortgaged over the last couple of years and attempt to trade out of their current problems - with little success. unfortunately remortgaging is (generally) something which can only be done once, so fair play to the bank manager in the OP's example who has pulled the plug - at least the guy will get to keep his house.

however most banks wouldn't do that and they have no scruples in letting people dig a bigger hole for themselves, if they can screw a couple of years charges + interest out of them. :angry:

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I have seen a lot of the shop type business close here lately.

Didn't they just double the business council tax bill?

How can a tiny bakery or newsagent afford to pay the council £5,000+?

The big superstores may create jobs but they wipe out 4 times as many local jobs

in the process.

How long before China finds someone else to sell stuff to, someone who they get

something better in return from. What do we give them in return? Insurances, banking,

services etc, what a load of ********!

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The bank manager refused to accept and stated " if you have been unable to make a profit the the last 12 months you certainly will not be able to in the next 12 months - call it a day now and keep your house "

Interesting that he has a bank manager who has both common sense and actually advises in his client's best interests. Most so-called 'bank managers' these days are simply glorified clerks with little financial understanding IMPO.

My local ironmonger says sales are 40% down this last quarter. I am curious aqs to why milkmen would suffer though? Surely people still order milk?

As I have mentioend before, I know a guy here in South Wales who runs a very successful van hire business. His wife indluges herself in running a small fashion boutique every so often. Over the years I have noticed that she always takes a lease out on a small shop, sets it up selling expensive womens' clothes, etc, JUST prior to any boom. (For those of you who know Swansea she does it in places like Sketty, Mumbles, Killay, etc.). A few months back she had a big closing down sale of her shop, sold off all her expensive dresses and closed down. Again, over the years I have repeatedly noticed that she does this just prior to any economic downturns. I can only conclude that her husband is a sharp cookie - he is - and that perhaps he gets an idea of where the economy is going via his own business and his business contacts.

Edited by The Masked Tulip

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Banks Starting To Pull The Plug ! Options Rating !

You mean it’s time to maximise profit as all banks work as a team to sell you all credit and then move the goal posts. It’s will do no good trying another bank now.

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Interesting that he has a bank manager who has both common sense and actually advises in his client's best interests. Most so-called 'bank managers' these days are simply glorified clerks with little financial understanding IMPO.

My local ironmonger says sales are 40% down this last quarter. I am curious aqs to why milkmen would suffer though? Surely people still order milk?

As I have mentioend before, I know a guy here in South Wales who runs a very successful van hire business. His wife indluges herself in running a small fashion boutique every so often. Over the years I have noticed that she always takes a lease out on a small shop, sets it up selling expensive womens' clothes, etc, JUST prior to any boom. (For those of you who know Swansea she does it in places like Sketty, Mumbles, Killay, etc.). A few months back she had a big closing down sale of her shop, sold off all her expensive dresses and closed down. Again, over the years I have repeatedly noticed that she does this just prior to any economic downturns. I can only conclude that her husband is a sharp cookie - he is - and that perhaps he gets an idea of where the economy is going via his own business and his business contacts.

Buying it form Tescos is much cheaper tho'. Home deliveries are a bit of a luxury that people may have cut back on.

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My local ironmonger says sales are 40% down this last quarter. I am curious aqs to why milkmen would suffer though? Surely people still order milk?

I just think it's a downward trend for the milkman, I personally have never had milk delivered since I moved away from home, it's cheaper and no less convenient to buy it from the supermarket.

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Does everyone realise the Bank of England is privately owned?

It's a private company.

A private company with the license to print money and now set the base rates,

The BoE is a profit making organisation.

Does this worry anyone?

Our taxes are collected to pay interest on the national debt and all of these interest payments go to the BoE which it passes on to its owners...

The UK owes these people £11Billion at 4.5% thats £495Million a year

The very same people own the Federal Reserve

The US owes the Fed $83Billion at 4.25% which is $3.5Billion a year

Because both of these organisations can print money they can 'manage' the economic cylce to rock back and forth like a pendulum. Simply by buying en masse or selling en masse government bonds using this money they have printed for the price of the paper

Does this worry anyone?

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A very old (300 years) cartel of International Banking houses

Rothschild Bank of London

Warburg Bank of Hamburg

Rothschild Bank of Berlin

Lehman Brothers of New York

Lazard Brothers of Paris

Kuhn Loeb Bank of New York

Israel Moses Seif Banks of Italy

Goldman, Sachs of New York

Warburg Bank of Amsterdam

Chase Manhattan Bank of New York

They are all pretty much owned by the 6th generation of the Rothschild family

Nathan Rothschild, a financial genius, came up with the idea of Central Banks.

They have been collecting interest on national debts ever since

He founded Rothschild Bank of London back in the 1700's

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A very old (300 years) cartel of International Banking houses

Rothschild Bank of London

Warburg Bank of Hamburg

Rothschild Bank of Berlin

Lehman Brothers of New York

Lazard Brothers of Paris

Kuhn Loeb Bank of New York

Israel Moses Seif Banks of Italy

Goldman, Sachs of New York

Warburg Bank of Amsterdam

Chase Manhattan Bank of New York

They are all pretty much owned by the 6th generation of the Rothschild family

Nathan Rothschild, a financial genius, came up with the idea of Central Banks.

They have been collecting interest on national debts ever since

He founded Rothschild Bank of London back in the 1700's

This post gets my vote for the Most Off Topic Repsonse 2005.

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A very old (300 years) cartel of International Banking houses

Rothschild Bank of London

Warburg Bank of Hamburg

Rothschild Bank of Berlin

Lehman Brothers of New York

Lazard Brothers of Paris

Kuhn Loeb Bank of New York

Israel Moses Seif Banks of Italy

Goldman, Sachs of New York

Warburg Bank of Amsterdam

Chase Manhattan Bank of New York

They are all pretty much owned by the 6th generation of the Rothschild family

Nathan Rothschild, a financial genius, came up with the idea of Central Banks.

They have been collecting interest on national debts ever since

He founded Rothschild Bank of London back in the 1700's

Who owns the Fed?

The shareholders of the fed are indeed private banking corporations (all of the banks operating in the US are shareholders). They deposit 3% of their capital (total assets - total liabilities on their balance sheets) at the Fed, and receive 6% dividend per annum for this. The capital is held as a cushion against collapse of the banking system.

If they are going to tie up 3% of their capital in the Fed, its only fair to compensate them for it. You could argue over whether 6% is overly generous for an essentially risk free investment at present, but this is a historical dividend % (it only amounts to a total of around $500m per year, which is peanuts really) and in many years they have effectively lost out as interest rates were above this 6% level.

The fed has large holdings of government bonds on which it receives interest from the govt. However the excess over the 6% paid out on capital is repaid to the treasury. This means that around £25bn of US national debt is effectively interest free.

The notion of the Fed being a mechanism by which a cabal of bankers profit via their ownership of the Fed is a misnomer. They appear to own it, but have no real property rights other than to receive 6% on their capital lodged with the fed each year.

The real issue is with the debt based money system as a whole. As many have pointed out, it is doomed to eventual bankruptcy as it requires endless growth of debt which will eventually become unserviceable. It is also structured in such a way as to cause booms and busts in the economy and a movement of wealth from individuals to banking corporations. These are structural problems, not conspiracies.

Edited by Smell the Fear

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Son-in -Law was a contract programmer on £45 an hour then 2000 the bottom fell out of the industry. He then decided to sell the house Buy another extend uprgrade and sell up, in amoungst doing a bit of programming work at greatly reduced rates. Last house they did bought back end of 2004 and sold this year. But the fact of the matter is, if they had not bothered with the hassel of building the extension that doubled the size of the house, and doubled the bedrooms to 4. They would have made the same profit by just selling the house on with the granted planning position in place. A sure sign the gravy train is coming to an end methinks.

He was a quantity suveyor prior to programming, so went back to that this year. Smallish firm where the principles were haveing to undertake surveying themselves, they took him on to so they could concentate on quoting for work. They let him go last week as contracts are drying up, bit of a bummer really because to keep him they offered him a decent xmas bonus. I have not spoken to him so I don't know if he got it or not.

Another mate of his was a programmer, but not having the languages the S-in-L had he was soon out of work so retrained as a Corgi reg plumber, I understand he is still busy.

RFD I see your still offering input of worth.......I reckon you would have made an excellent MP :rolleyes:

Edited by Catch22

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Does everyone realise the Bank of England is privately owned?

It's a private company.

A private company with the license to print money and now set the base rates,

The BoE is a profit making organisation.

Does this worry anyone?

Our taxes are collected to pay interest on the national debt and all of these interest payments go to the BoE which it passes on to its owners...

The UK owes these people £11Billion at 4.5% thats £495Million a year

The very same people own the Federal Reserve

The US owes the Fed $83Billion at 4.25% which is $3.5Billion a year

Because both of these organisations can print money they can 'manage' the economic cylce to rock back and forth like a pendulum. Simply by buying en masse or selling en masse government bonds using this money they have printed for the price of the paper

Does this worry anyone?

Err - the Bank of England was nationalised in 1946 !!!!!!!!!!!!!!!!!!!

Its an instrument of UK Government - it has so called 'independance' to set IRs to meet the Government set 2% inflation target. Other than that it is responsible to the Government for managing the financial system.

I think you will find it effectively works for HM Treasury !!

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Is this RFD-Veritas thing a wind up?

I'm guessing it isn't from his reaction.....

No it's no wind up ........didn't the country have a lucky escape :D:D:D:D

To be fair to RFD, I added the horns, tail, glasses and the beard :rolleyes:

Edited by Catch22

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I don't think there is a huge conspiracy here. I was just pointing out that the central banks are privately held, it seems odd to most people when they hear for the first time that the Bank of England pays dividends to shareholders.

We all know what power large shareholders wield over companys

The system is a stange one as it is designed so that money gravitates to a small number of people, the lenders.

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  • 301 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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