Angela Rayner

[msi]

1 minute ago, MARTINX9 said:

I feel sorry for his 78 year old former campaign manager - she apparently got a call at 3.15am one night saying Mr Menzies needed £5,000 immediately 'as a matter of life and death' so he could pay off some 'bad actors' who were entrapping him while he wasn't wearing any clothes. Poor woman had to take the £6.5k out of her own bank account (as the price went up) and transferred the funds - she later got reimbursed by party donors.

I thought I have seen it all.

 

 

I don't. Basic scam awareness.  Doesn't matter if its a Nigerian 'prince' or a FTSE CEO.  He knew she was a soft touch, as she's probably brainwashed with Daily Fail headlines about ImMiGruNTs and ScRoUnGeRs.

[Timm]

2 minutes ago, MARTINX9 said:

I feel sorry for his 78 year old former campaign manager - she apparently got a call at 3.15am one night saying Mr Menzies needed £5,000 immediately 'as a matter of life and death' so he could pay off some 'bad actors' who were entrapping him somewhere while he wasn't wearing any clothes. Poor woman had to take the £6.5k out of her own bank account (as the price went up) and transferred the funds - she later got reimbursed by party donors. This apparently was for cleaning up the flat after he was sick.

I thought I have seen it all.

 

 

Is this the same MP that got in trouble years and years ago for enjoying an illegal immigrant rent boy, asking him for drugs and getting a dog drunk?

Clue: It is, but he was never charged.

[msi]

2 minutes ago, Timm said:

Is this the same MP that got in trouble years and years ago for enjoying an illegal immigrant rent boy, asking him for drugs and getting a dog drunk?

Clue: It is, but he was never charged.

From the Party of TrAdITiOnAl GeNdEr RoLEs AnD fAmIlY VaLuEs

[MARTINX9]

20 minutes ago, Timm said:

Is this the same MP that got in trouble years and years ago for enjoying an illegal immigrant rent boy, asking him for drugs and getting a dog drunk?

Clue: It is, but he was never charged.

Yes - and he was later made a UK trade envoy to Colombia (as well as Peru, Argentina and Chile).

Someone must have been 'avin a larf when they made that appt.

[Timm]

13 minutes ago, MARTINX9 said:

Yes - and he was later made a UK trade envoy to Colombia (as well as Peru, Argentina and Chile).

Someone must have been 'avin a larf when they made that appt.

🤣

Would that someone have been Sunak?

If so, would that raise serious questions about the judgment of the PM?

[Pebbles]

8 hours ago, winkie said:

Very many cabinet ministers are not educated in the role they undertake, they have educated people behind them to advise them......they have been changing ministers every five minutes, how can anything ever get done?.......how many housing ministers have there been?....

Yes they are a joke i didnt say the conservatives were any better. At least recent defence ministers have served in the military though.

[Pebbles]

8 hours ago, Bruce Banner said:

And then we left the EU and became isolated and insignificant.

 

We were well beyond Great when we were in that sham organisation.

[dances with sheeple]

9 hours ago, frederico said:

lol Rayner may have been fiddling the books, but so do they all and mostly on a much larger scale.

Anyway, if labour do win the election (it seems difficult to believe they won’t), absolutely nothing will change, taxes are too high and there’s too much debt.

House prices won’t drop anywhere near enough because of the debt secured on them.

So we are stuck with this stalemate for the foreseeable future.

There is no answer coming, the individual has to create the best solution for themselves.

How is that going to work?

[Si1]

8 minutes ago, dances with sheeple said:

How is that going to work?

You'd have thought the higher the leverage the higher the potential drop 

[frederico]

1 minute ago, dances with sheeple said:

How is that going to work?

Oh do come on, the financial system couldn’t cope with it, the economy would collapse as a direct result.

Why you ask, that’s rubbish you say, well the more existing debt becomes a greater risk the greater risk all debt becomes and the higher you have to pay for it, so if house prices halved or something, I don’t know a trillion of debt or something would be instantly downgraded as a result all new debt is categorised as more risky. Whenever a business had to refinance, if they could get the money it would cost a whole lot more.

Theres probably something also about the banks obligations to maintain stability, so the risk of a run on the banks appears.

It would be like the financial crisis but with qe more difficult to get away with.

So they won’t allow anything to correct, they will do everything to prop up the market, they simply cannot afford to do anything else.

[frederico]

3 minutes ago, Si1 said:

You'd have thought the higher the leverage the higher the potential drop 

That’s as maybe but the loan as long as it is still good quality is an asset on the banks book, if it has to be written off the balance sheet is negatively impacted.

 I know it’s crazy, but it is the way they account for mortgages.

Thats one of the reasons the financial crisis happened, the loans were rated far too high and when this was corrected the banks effectively went bust.

[regprentice]

1 hour ago, frederico said:

Why you ask, that’s rubbish you say, well the more existing debt becomes a greater risk the greater risk all debt becomes and the higher you have to pay for it, so if house prices halved or something, I don’t know a trillion of debt or something would be instantly downgraded as a result all new debt is categorised as more risky. Whenever a business had to refinance, if they could get the money it would cost a whole lot more.

Theres probably something also about the banks obligations to maintain stability, so the risk of a run on the banks appears.

It would be like the financial crisis but with qe more difficult to get away with.

So they won’t allow anything to correct, they will do everything to prop up the market, they simply cannot afford to do anything else.

There would only be a collapse if people stopped paying their mortgages.

People have a mental block against house prices being able to fall ... but i've never heard of anyone threatening to stop repaying their car loan (for example) because the car had halved in value since the loan was taken out. Most cars depreciate 50% in 4 years. 

There are rules that say a bank has to hold a certain amount of cash in reserve on its balance sheet to cover mortgages in negative equity. During the GFC many banks sold mortgages at a loss to investment funds to get them off their balance sheet.... but i suspect a collapse of that kind would be global (all western countries have the same house price problem) and these rules would be relaxed or removed.

[frederico]

8 hours ago, regprentice said:

There would only be a collapse if people stopped paying their mortgages.

People have a mental block against house prices being able to fall ... but i've never heard of anyone threatening to stop repaying their car loan (for example) because the car had halved in value since the loan was taken out. Most cars depreciate 50% in 4 years. 

There are rules that say a bank has to hold a certain amount of cash in reserve on its balance sheet to cover mortgages in negative equity. During the GFC many banks sold mortgages at a loss to investment funds to get them off their balance sheet.... but i suspect a collapse of that kind would be global (all western countries have the same house price problem) and these rules would be relaxed or removed.

Hi there, car loans are a very different beast, but they would contribute to a financial squeeze.

The point is they may or may not relax rules, but there would still be queues at the cash points.

Of course in the gfc, many uk banks were bailed out or merged, the government will want to avoid all these scenarios at all costs.

[Bob8]

22 hours ago, msi said:

Pig Bother's USP against Brown was simply 'I'm not Gordon'.  Can you give me specifics to what the Tories stood for?  It was so weak and watered down that the electorate only handed him a coalition.

That was Corbyn dontchaknow...and we know that would be the end of the world

Just like Pig Botherer, Labour's core value right now is 'we aren't the Tories...'  

 

We need a real grown up discussion about what are the 'core values' in today's political landscape without falling back to the sloganeering and drooling of party ideologues.

I agree about Cameron to a limited extent but no more. It was the "hug a hoodie" phase, he represented compassionate, one nation conservatism, financial prudence and social (and environmental) awareness. 

That is not as clear as "education, education, education", but it is clearer than Starmer.

 

[regprentice]

1 hour ago, frederico said:

Hi there, car loans are a very different beast, but they would contribute to a financial squeeze.

The point is they may or may not relax rules, but there would still be queues at the cash points.

Of course in the gfc, many uk banks were bailed out or merged, the government will want to avoid all these scenarios at all costs.

I'm not sure why people would queue at the cashpoints for cash.

i worked for an irish bank in 2008 and back then, when house prices fell over 50%, The Irish govt backed funding for 200% mortgages. you couldn't walk into a branch and get a 200% mortgage, but if your debt meant you needed a mortgage of twice what your house is currently worth, then allowing you to remortgage onto a 200% mortgage kept you in your home.... and crucially it kept you on the hook for your debt to the bank even though you now owed twice what your house was worth. 

Car loans are typically unsecured so yes they are different. But i bought my house 20 years ago and today fairly average people seem happy to pay more for  car than i paid for my house (£72k).. or at least close to it. The point I'm making there is that , for a phenomenal amount of money like £30-50k for a fairly average car, people don't bat an eyelid at the depreciation. Even a fairly big standard car like a focus is £30k now (cheapest model is £28.5k).

If people can cope with accepting that a car depreciates, and that the debt on that is substantial, then they should be able to do the same with a house. After all they own it, they've shelter , and as long as they can repay the debt no-one will take it away from them..... they just have to come to terms with the fact they paid a sticker price of twice what their new neighbour paid.

When i moved into my street i could see that council tenants had bought their houses under the right to buy for 1/3 of what i paid for my house. that didn't stop me buying, i didn't really have a choice, that was the market at the time. 

[msi]

47 minutes ago, Bob8 said:

I agree about Cameron to a limited extent but no more. It was the "hug a hoodie" phase, he represented compassionate, one nation conservatism, financial prudence and social (and environmental) awareness.

I have some magic beans to sell you then

The same Cameron that supported custodial sentences for anyone even associated but not charged with the London riots?

The same Cameron that released extra funds so BoJo could sp*nk on Water Cannon to 'muscle up' the Police?

The same Cameron that pushed for private sector involvement in PIP to sanction 'Scroungers' leaving people on foodbanks?

The same Cameron that bluffed the LibDems to taking the fall for tuition fees that Osborne yanked up?

The same Cameron that got the Queen to support him on IndyRef1?

The same Cameron that launched 'Austerity'?

 

Cameron was a marketing guy. He knew the Tories past attempts at moving more to the Right under Hague, IDS, Howard was futile (future Tories take note) and needed to rebrand them as 'Labour Lite'.  He even pitched himself as the 'heir to Blair' showing Brown as a maniac.

 

 

Edited April 19 by msi
Typo

[Huggy]

54 minutes ago, msi said:

I have some magic beans to sell you then

The same Cameron that supported custodial sentences for anyone even associated but not charged with the London riots?

The same Cameron that released extra funds so BoJo could sp*nk on Water Cannon to 'muscle up' the Police?

The same Cameron that pushed for private sector involvement in PIP to sanction 'Scroungers' leaving people on foodbanks?

The same Cameron that bluffed the LibDems to taking the fall for tuition fees that Osborne yanked up?

The same Cameron that got the Queen to support him on IndyRef1?

The same Cameron that launched 'Austerity'?

 

Cameron was a marketing guy. He knew the Tories past attempts at moving more to the Right under Hague, IDS, Howard was futile (future Tories take note) and needed to rebrand them as 'Labour Lite'.  He even pitched himself as the 'heir to Blair' showing Brown as a maniac.

 

 

He got Brexit started too

[msi]

Just now, Huggy said:

He got Brexit started too

Ah yes. Let derail a thread by another made up issue for no good reason.

[Huggy]

5 minutes ago, msi said:

Ah yes. Let derail a thread by another made up issue for no good reason.

Brexit's not bad enough to go on your list of "bad" things Cameron did? I don't disagree, I am surprised though

[frederico]

1 hour ago, regprentice said:

I'm not sure why people would queue at the cashpoints for cash.

i worked for an irish bank in 2008 and back then, when house prices fell over 50%, The Irish govt backed funding for 200% mortgages. you couldn't walk into a branch and get a 200% mortgage, but if your debt meant you needed a mortgage of twice what your house is currently worth, then allowing you to remortgage onto a 200% mortgage kept you in your home.... and crucially it kept you on the hook for your debt to the bank even though you now owed twice what your house was worth. 

Car loans are typically unsecured so yes they are different. But i bought my house 20 years ago and today fairly average people seem happy to pay more for  car than i paid for my house (£72k).. or at least close to it. The point I'm making there is that , for a phenomenal amount of money like £30-50k for a fairly average car, people don't bat an eyelid at the depreciation. Even a fairly big standard car like a focus is £30k now (cheapest model is £28.5k).

If people can cope with accepting that a car depreciates, and that the debt on that is substantial, then they should be able to do the same with a house. After all they own it, they've shelter , and as long as they can repay the debt no-one will take it away from them..... they just have to come to terms with the fact they paid a sticker price of twice what their new neighbour paid.

When i moved into my street i could see that council tenants had bought their houses under the right to buy for 1/3 of what i paid for my house. that didn't stop me buying, i didn't really have a choice, that was the market at the time. 

I agree with all this and wasn’t aware of the 200% thing but it doesn’t surprise me.

I bought and sold a house in the mid to late eighties, also in 92 and 99. I reckon I’ve seen just about all the market can throw at you, but financial services wise it’s like the eighties on steroids, the whole economy depends on it, actually it is the economy.

 I would love to see a proper correction I’m just expressing a doubt that it will be allowed to happen, the banks are supposed to be much more resilient now, the boe keeps checking up on these things so I could be wrong.

[frederico]

7 minutes ago, Huggy said:

Brexit's not bad enough to go on your list of "bad" things Cameron did? I don't disagree, I am surprised though

Yes without Cameron and his ukip insecurity problems there would have been no brexit, that much is a fact.

[Huggy]

2 minutes ago, frederico said:

Yes without Cameron and his ukip insecurity problems there would have been no brexit, that much is a fact.

Indeed he did.

He didn't get it done though. That was a team effort between Boris Johnson, Comrades Corbyn and McDonnell, Jo Swinson, Anna Sourberry, Dominic Grieving, She, and many, many more.

[winkie]

17 hours ago, Pebbles said:

We were well beyond Great when we were in that sham organisation.

What we have is better?......unelected PM, from what I can remember we voted for our EMPs to speak on our behalf.....we had proxy and were not in Schengen, not in the Euro.......we threw a lot more away than gained......no going back.

https://ukandeu.ac.uk/the-uk-and-the-schengen-system/

 

Good our young people might be given more freedom to work, live and study for up to four years......travel is good, opens up new opportunities, would recommend they take advantage.

[Bob8]

1 hour ago, winkie said:

What we have is better?......unelected PM, from what I can remember we voted for our EMPs to speak on our behalf.....we had proxy and were not in Schengen, not in the Euro.......we threw a lot more away than gained......no going back.

https://ukandeu.ac.uk/the-uk-and-the-schengen-system/

Good our young people might be given more freedom to work, live and study for up to four years......travel is good, opens up new opportunities, would recommend they take advantage.

You are more patient than me.

If all the nations of Europe were fully aligned, then we would not need a massive organisation to work out trade, compromise and co-operation.  That there are these issues is the whole point of the EU.

The brexit dogmatists also want more national Government control (rather than direct democracy to the EU) and direct democracy to the EU (rather than more national Government control).

[winkie]

3 hours ago, Bob8 said:

You are more patient than me.

If all the nations of Europe were fully aligned, then we would not need a massive organisation to work out trade, compromise and co-operation.  That there are these issues is the whole point of the EU.

The brexit dogmatists also want more national Government control (rather than direct democracy to the EU) and direct democracy to the EU (rather than more national Government control).

People in Europe closer to far right nationalism, Franco, Mussolini and Hitler......I don't think they would rush back there in a hurry.....