Si1 Posted February 15, 2019 Share Posted February 15, 2019 In addition to boomers dieing, conventional IO loans coming to term, ludicrous car loans catching up with the population, and BTLrs exiting the market due to S24 of course. Just sh#tty timing for me. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 15, 2019 Share Posted February 15, 2019 32 minutes ago, longgone said: no bother 1eur = 1gbp soon only different in name Not value, control, individual governments can't print money. Quote Link to comment Share on other sites More sharing options...
longgone Posted February 15, 2019 Share Posted February 15, 2019 24 minutes ago, Bruce Banner said: Not value, control, individual governments can't print money. i believe anything can be done if the will is strong enough. Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted February 15, 2019 Share Posted February 15, 2019 (edited) 4 hours ago, longgone said: when you can print money ? infinitely 4 hours ago, Bruce Banner said: Big mistake not joining the Euro. How was not joining the Euro a mistake? The ECB have recently printed 1.5 trillion. But this have been of limited (no?) benefits to the Greeks who were denied a voice in their own financial planning ... Edited February 15, 2019 by Aidan Ap Word Punctuation. Quote Link to comment Share on other sites More sharing options...
crashbaby Posted February 15, 2019 Share Posted February 15, 2019 1 hour ago, Aidan Ap Word said: the Greeks who were denied a voice in their own financial planning ... Well, when you sell something for debt you lose control over it and they chose to give someone else control. I just with the lesson would catch on already. Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted February 15, 2019 Share Posted February 15, 2019 40 minutes ago, crashbaby said: Well, when you sell something for debt Greece sold their country out for debt they lost control over it and they chose to give someone else control. I just with the lesson would catch on already. Corrected? If I am anywhere near correct on my interpretation then I will be very glad when we have a formal legal split between us and the 1.5 trillion euros of debt. The ECB has sold Europe out for debt (in order to maintain confidence in the emperors clothes) - even Mr Juncker will battle for control, I think. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 15, 2019 Share Posted February 15, 2019 3 hours ago, Aidan Ap Word said: How was not joining the Euro a mistake? The ECB have recently printed 1.5 trillion. But this have been of limited (no?) benefits to the Greeks who were denied a voice in their own financial planning ... Because having a currency, Sterling, and a central bank, provided successive governments with the tools to create and maintain the current housing bubble. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted February 15, 2019 Share Posted February 15, 2019 43 minutes ago, Bruce Banner said: Because having a currency, Sterling, and a central bank, provided successive governments with the tools to create and maintain the current housing bubble. You'd prefer those tools to be in the hands of the even more distant and unaccountable? Quote Link to comment Share on other sites More sharing options...
crashbaby Posted February 15, 2019 Share Posted February 15, 2019 3 hours ago, Riedquat said: You'd prefer those tools to be in the hands of the even more distant and unaccountable? They're as unaccountable to Brits as Sterling is to Scots. Control is shared among all the people using it, and convincing 28 countries to "print baby print" is not as easy as convincing one. Even if you want to reduce it to the representatives, it's not like Carney/Osborne/Hammond are held in high esteem around here. At least I'm not aware of the EU doing anything like TFS/FLS/etc Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 15, 2019 Share Posted February 15, 2019 4 hours ago, Riedquat said: You'd prefer those tools to be in the hands of the even more distant and unaccountable? I most certainly would, if it takes them out of the hands of the likes of Blair, Brown, Cameron, Osborne, May, Hammond and, perhaps, Corbyn. Blowing asset bubbles in individual member states is not what the EU is about. Quote Link to comment Share on other sites More sharing options...
Riedquat Posted February 15, 2019 Share Posted February 15, 2019 18 minutes ago, Bruce Banner said: I most certainly would, if it takes them out of the hands of the likes of Blair, Brown, Cameron, Osborne, May, Hammond and, perhaps, Corbyn. Blowing asset bubbles in individual member states is not what the EU is about. Get people like that in the upper reaches of the EU and you'll just have the same thing at a larger scale, blowing up bubbles across the continent. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 16, 2019 Share Posted February 16, 2019 38 minutes ago, Riedquat said: Get people like that in the upper reaches of the EU and you'll just have the same thing at a larger scale, blowing up bubbles across the continent. People like that prefer to be a big fish in a small pond. Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted February 16, 2019 Share Posted February 16, 2019 16 hours ago, Riedquat said: You'd prefer those tools to be in the hands of the even more distant and unaccountable? I'd prefer the market to decide on interest rates. People (or banks/businesses) who want to save will chase the highest rate and those that want to borrow will chase the lowest rate. That way you get the optimum rate. The problem with central banks setting rates is that it sends the wrong signals to the economy if they don't get it right. However, they deliberately don't get it right but call it 'stimulating' the economy. This is where the distortions and bubbles come from. A low rate suggests there are a lot of people with savings, i.e. deferred spending power, when there isn't. Further, it allows people to get into huge debt due to the low borrowing costs. QE amplifies these false signals. Quote Link to comment Share on other sites More sharing options...
nothernsoul Posted February 16, 2019 Share Posted February 16, 2019 The factors leading to a repossession are cumulative though arnt they rather than a bolt from the blue ? I wasn't old enough to have been directly affected by the 90s crash but i believe high interest rates had sapped the finances and will of the over indebted for a few years before it all tipped. My father told me interest rates going over ten percent nearly killed him. During the last financial crisis although repos were comparatively low they did happen. I went looking at low end stuff to live in myself during that time, two bed terraces 90 grand and below in the north west. Quite a few were repos, you could just tell they were not all buy to let. People at this level suffered more than those higher up the property chain(people with much higher mortgage but higher income) , as emergency rates came too late to save them. Building work dried up and a lot of the OU in such properties would have relied on that. The difference now, is the mortgage payments for most are far more comfortable. Or am i mistaken in this? Quote Link to comment Share on other sites More sharing options...
Si1 Posted February 16, 2019 Share Posted February 16, 2019 3 hours ago, nothernsoul said: The factors leading to a repossession are cumulative though arnt they rather than a bolt from the blue ? I wasn't old enough to have been directly affected by the 90s crash but i believe high interest rates had sapped the finances and will of the over indebted for a few years before it all tipped. My father told me interest rates going over ten percent nearly killed him. During the last financial crisis although repos were comparatively low they did happen. I went looking at low end stuff to live in myself during that time, two bed terraces 90 grand and below in the north west. Quite a few were repos, you could just tell they were not all buy to let. People at this level suffered more than those higher up the property chain(people with much higher mortgage but higher income) , as emergency rates came too late to save them. Building work dried up and a lot of the OU in such properties would have relied on that. The difference now, is the mortgage payments for most are far more comfortable. Or am i mistaken in this? I'm not sure how comfortable people are. I think it's hand to mouth stuff with car repayments and credit card payments factored. Quote Link to comment Share on other sites More sharing options...
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