nero120 Posted September 1, 2023 Share Posted September 1, 2023 https://www.telegraph.co.uk/money/consumer-affairs/house-price-fall-nationwide/ https://archive.ph/9jWh4 Quote Property values are now down 5.3pc from their peak, as interest rate rises bite House prices have fallen by close to £15,000 in the biggest annual slump for 14 years. Property values are down 5.3pc from their peak in August last year, leaving the market in its weakest state since 2009, new figures show. Economists warned the drop marked the start of further “significant” falls to come. IT'S JUST A GULLY PEOPLE!!!!!!! Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted September 1, 2023 Share Posted September 1, 2023 1 minute ago, nero120 said: https://www.telegraph.co.uk/money/consumer-affairs/house-price-fall-nationwide/ https://archive.ph/9jWh4 IT'S JUST A GULLY PEOPLE!!!!!!! Last big drop was 2009 or therabouts when average prices dropped 20% and looked set to drop further - until all the bonkers support measures including interest rate repression/money printing kicked in to stablise the situation for year .. followed by steady rises thereafter. What will they do this time? Anyone with savings should think carefully. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 Just now, Sour Mash said: Last big drop was 2009 or therabouts when average prices dropped 20% and looked set to drop further - until all the bonkers support measures including interest rate repression/money printing kicked in to stablise the situation for year .. followed by steady rises thereafter. What will they do this time? Anyone with savings should think carefully. What can these deadbeats do? They're f*****. Either they do nothing and watch their dreaded deflation immolate their woke empires, or they print print print and watch their currencies hyperinflate! Hilariously, the rest of the world is telling the west to go **** itself, they ain't letting us bail ourselves out this time. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted September 1, 2023 Share Posted September 1, 2023 1 minute ago, nero120 said: What can these deadbeats do? They're f*****. Either they do nothing and watch their dreaded deflation immolate their woke empires, or they print print print and watch their currencies hyperinflate! Hilariously, the rest of the world is telling the west to go **** itself, they ain't letting us bail ourselves out this time. I'm thinking .. War. That is the usual last resort when the economy is collapsing and those in power want to cling on. Would not surprise me if our lunatic leaders envisage a 'hot war' with Russia (all that the current proxy war is achieving is impoverishing our already stressed economies) that can somehow magically be confined to Eastern Europe (the yanks will be thinking 'magically confined to Europe'). The hot war is needed to rally the population behind the government and also to allow all sorts of repressive measures to be introduced. Quote Link to comment Share on other sites More sharing options...
Orb Posted September 1, 2023 Share Posted September 1, 2023 7 minutes ago, Sour Mash said: What will they do this time? I don't think there's anything hugely significant they can do. I can't imagine anything with the gravity of HTB, ZIRP, QE, and so on becoming reality. Perhaps influence house-builders to restrict supply, and allow hundreds of thousands more immigrants in? These might have a significant effect, but probably not as severe as the props of 2009-now. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 2 minutes ago, Sour Mash said: I'm thinking .. War. That is the usual last resort when the economy is collapsing and those in power want to cling on. Would not surprise me if our lunatic leaders envisage a 'hot war' with Russia (all that the current proxy war is achieving is impoverishing our already stressed economies) that can somehow magically be confined to Eastern Europe (the yanks will be thinking 'magically confined to Europe'). The hot war is needed to rally the population behind the government and also to allow all sorts of repressive measures to be introduced. It's not a proxy war, NATO troops are effectively fighting in ukraine's ranks. The Ukrainian armed forces are essentially the biggest (and only real) NATO army they can field, and it's being utterly wiped out. This is "the war" you are talking about, and it's failing miserably. They can't draft westerners as they know there's no way westerners would support this, they would revolt (plus we're all fat, lazy ***** that the Russians would take pleasure in obliterating with their artillery). Military action has failed. The BRICS are quickly organising themselves to leave western financial markets, leaving us without global commodity supplies, in other words: checkmate. The only choice now is do we go to the Russians and beg for forgiveness or do we sit back and watch as our economies are starved and plunged into third world status. Looks like they're going for the latter. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted September 1, 2023 Share Posted September 1, 2023 https://nitter.net/mrwebber4/status/1697581018486607928#m Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 1, 2023 Share Posted September 1, 2023 5 minutes ago, nero120 said: It's not a proxy war, NATO troops are effectively fighting in ukraine's ranks. The Ukrainian armed forces are essentially the biggest (and only real) NATO army they can field, and it's being utterly wiped out. This is "the war" you are talking about, and it's failing miserably. They can't draft westerners as they know there's no way westerners would support this, they would revolt (plus we're all fat, lazy ***** that the Russians would take pleasure in obliterating with their artillery). Military action has failed. The BRICS are quickly organising themselves to leave western financial markets, leaving us without global commodity supplies, in other words: checkmate. The only choice now is do we go to the Russians and beg for forgiveness or do we sit back and watch as our economies are starved and plunged into third world status. Looks like they're going for the latter. Quote Link to comment Share on other sites More sharing options...
Casual-observer Posted September 1, 2023 Share Posted September 1, 2023 3 minutes ago, nero120 said: It's not a proxy war, NATO troops are effectively fighting in ukraine's ranks. The Ukrainian armed forces are essentially the biggest (and only real) NATO army they can field, and it's being utterly wiped out. This is "the war" you are talking about, and it's failing miserably. They can't draft westerners as they know there's no way westerners would support this, they would revolt (plus we're all fat, lazy ***** that the Russians would take pleasure in obliterating with their artillery). Military action has failed. The BRICS are quickly organising themselves to leave western financial markets, leaving us without global commodity supplies, in other words: checkmate. The only choice now is do we go to the Russians and beg for forgiveness or do we sit back and watch as our economies are starved and plunged into third world status. Looks like they're going for the latter. I don't think the BRICS will leave western financial markets entirely but they are going to start trading with the west on a more even keel. They won't allow themselves to be open to the style of seizures that they did on Russia and they won't leave themselves exposed to a monopolistic western system which they can be frozen out of. That ship has absolutely sailed. What it does mean is the wests ability to live off never ending deficit spending is over. The west needs to economically start competing again and that means lofty UK house prices can no longer be justified/propped. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 (edited) 4 minutes ago, Casual-observer said: I don't think the BRICS will leave western financial markets entirely but they are going to start trading with the west on a more even keel. They won't allow themselves to be open to the style of seizures that they did on Russia and they won't leave themselves exposed to a monopolistic western system which they can be frozen out of. That ship has absolutely sailed. What it does mean is the wests ability to live off never ending deficit spending is over. The west needs to economically start competing again and that means lofty UK house prices can no longer be justified/propped. Whilst they use western markets they are subject to US financial imperialism through the dollar. They will no longer tolerate this (why would they?!) and the only option is to create new financial markets, starting with a common trade settlement system (hence all the recent rumours regarding the BRICS meeting). Other financial markets will grow around this, e.g. gold pricing via the Shanghai Gold Exchange, etc. Edited September 1, 2023 by nero120 Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 (edited) 9 minutes ago, Si1 said: Well clearly we don't agree on this, but seriously bro you are on the wrong side of history on this one. You may hate the Russians (I have no feeling about them either way) but the fact is, they are rising and we are collapsing. The future will be decided in the east, whether we like it or not. Edited September 1, 2023 by nero120 Quote Link to comment Share on other sites More sharing options...
Ballyk Posted September 1, 2023 Share Posted September 1, 2023 18 minutes ago, nero120 said: The only choice now is do we go to the Russians and beg for forgiveness or do we sit back and watch as our economies are starved and plunged into third world status. Looks like they're going for the latter. Deluded pro-Putin nonsense. Russia is destroying its army, wiping out its young men, and impoverishing itself along the way. After Ukrainians, the people I feel most sorry for are the average Russians. Quote Link to comment Share on other sites More sharing options...
Casual-observer Posted September 1, 2023 Share Posted September 1, 2023 6 minutes ago, Ballyk said: Deluded pro-Putin nonsense. Russia is destroying its army, wiping out its young men, and impoverishing itself along the way. After Ukrainians, the people I feel most sorry for are the average Russians. The Ukraine spring/summer offense can barely reach the first line of defence and that's with the best of what NATO had to offer. Even Hitler recognised when to call it a day with the likes of the Battle of Kursk. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted September 1, 2023 Share Posted September 1, 2023 As a NATO spokesman said something along the lines ‘it’s not fighting them directly, it’s fighting their ability to wage war’ meaning taking out radar systems, artillery, transport planes, its slow progress but its having a good effect. although west is dragging its feet with F16 The slower the progress the more arms they get, the easier the progress. the gap of arms is kept throttled as the west only want to give them barely enough to do the job, if progress is slow, they get more arms. Meaning the first few miles are the hardest, the last few are the easiest, opposite is true for Russia, facing more and more modern weapons just while their stocks are running lower and lower. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted September 1, 2023 Share Posted September 1, 2023 43 minutes ago, Casual-observer said: I don't think the BRICS will leave western financial markets entirely but they are going to start trading with the west on a more even keel. They won't allow themselves to be open to the style of seizures that they did on Russia and they won't leave themselves exposed to a monopolistic western system which they can be frozen out of. That ship has absolutely sailed. What it does mean is the wests ability to live off never ending deficit spending is over. The west needs to economically start competing again and that means lofty UK house prices can no longer be justified/propped. Yup, ignoring trading opportunities because you don't like the trading partners would be stupid but you can be damn sure that the Western World - esepecially the USA - won't continue to enjoy the upper hand in trade. That will ensure that the good times for the West will be well and truly over unless we actually - gasp - become competitive again. In any case, I would say at least a decade of belt-tightening lies ahead. Not to worry, we can basically call the new order of much lowered living standards 'saving the planet from the climate crisis'. Suddenly, grabbing all those overseas currency assets of Russia doesn't look like the galaxy-brain move that the mob of cretins running out governments thought it was back in 2022. Not that they have learned - they're actually doing their best to outright steal them, not just 'freeze' them. That will be an even dumber idea. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted September 1, 2023 Share Posted September 1, 2023 11 minutes ago, jiltedjen said: As a NATO spokesman said something along the lines ‘it’s not fighting them directly, it’s fighting their ability to wage war’ meaning taking out radar systems, artillery, transport planes, its slow progress but its having a good effect. although west is dragging its feet with F16 The slower the progress the more arms they get, the easier the progress. the gap of arms is kept throttled as the west only want to give them barely enough to do the job, if progress is slow, they get more arms. Meaning the first few miles are the hardest, the last few are the easiest, opposite is true for Russia, facing more and more modern weapons just while their stocks are running lower and lower. If only Russia had the capability to produce more weaponry as they use it, eh .... 😆 Weren't they supposed to have run out of missiles something like Q3 2022? Meanwhile in the reality of Q3 2023, its the West that's unable to match the pace of what's being consumed by the Ukrainians to fight the Russians on 'our' behalf. What will run out first - Western weapons or Ukrainian males dying in huge numbers? And how do we keep funding this mess? Our economies were shaky to begin with, shakier now and we can't afford to keep devoting industrial output and cash to keep the fire burning on the basis of doing damage by proxy to someone who was willing to sell us large amounts of cheap energy. The Russian economy on the other hand is growing nicely - as would be expected of a country that has massive reserves of Oil, Gas, Fertiliser, food production, Uranium etc that is now developing its own economy and improving relations with the non-Western World at a rapid pace (spurred by our actions). So the 'benefit' of all this physical and economic carnage generated by getting Ukraine to keep fighting Russia for as long as possible is maybe eventually destabilising Russian politics enough to get rid of an establishment hate figure. Wow, that's really worth it. 🙄 An actual 'Hot War' would at least save the skins of the fools who have brought our countries low over the last decades so I think it's very likely that they are stupid enough to go for it. They have proved that they learned nothing so far. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 1 hour ago, Ballyk said: Deluded pro-Putin nonsense. Russia is destroying its army, wiping out its young men, and impoverishing itself along the way. After Ukrainians, the people I feel most sorry for are the average Russians. Whatever makes you feel better! Though it won't save you (as has always been the fate of braindead sheep who blindly follow establishment narratives). Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 16 minutes ago, Sour Mash said: If only Russia had the capability to produce more weaponry as they use it, eh .... 😆 Weren't they supposed to have run out of missiles something like Q3 2022? Meanwhile in the reality of Q3 2023, its the West that's unable to match the pace of what's being consumed by the Ukrainians to fight the Russians on 'our' behalf. What will run out first - Western weapons or Ukrainian males dying in huge numbers? And how do we keep funding this mess? Our economies were shaky to begin with, shakier now and we can't afford to keep devoting industrial output and cash to keep the fire burning on the basis of doing damage by proxy to someone who was willing to sell us large amounts of cheap energy. The Russian economy on the other hand is growing nicely - as would be expected of a country that has massive reserves of Oil, Gas, Fertiliser, food production, Uranium etc that is now developing its own economy and improving relations with the non-Western World at a rapid pace (spurred by our actions). So the 'benefit' of all this physical and economic carnage generated by getting Ukraine to keep fighting Russia for as long as possible is maybe eventually destabilising Russian politics enough to get rid of an establishment hate figure. Wow, that's really worth it. 🙄 An actual 'Hot War' would at least save the skins of the fools who have brought our countries low over the last decades so I think it's very likely that they are stupid enough to go for it. They have proved that they learned nothing so far. Let's not turn this into another Ukraine thread! My fault, I apologise for bringing it up! Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted September 1, 2023 Share Posted September 1, 2023 1 hour ago, Sour Mash said: Last big drop was 2009 or therabouts when average prices dropped 20% and looked set to drop further - until all the bonkers support measures including interest rate repression/money printing kicked in to stablise the situation for year .. followed by steady rises thereafter. What will they do this time? Anyone with savings should think carefully. QE and zirp was a one-time trick really. It "works" to a certain point. Unfortunately, all it did was borrow heavily from the future. Payback was always going to happen and we're currently in the very early stages of that process. Even with deflation or at least inflation back at 2% or whatever, base rates will still be at 5% or more and likely stay there for years. Those with large amounts of debt are not getting out of 14 years of QE and ultra low interest rates that easily. Quote Link to comment Share on other sites More sharing options...
Ballyk Posted September 1, 2023 Share Posted September 1, 2023 28 minutes ago, nero120 said: Whatever makes you feel better! Though it won't save you (as has always been the fate of braindead sheep who blindly follow establishment narratives). Oh, now I am trembling with fear at the thought of the almighty Putin! Cretin. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted September 1, 2023 Share Posted September 1, 2023 8 minutes ago, Dreamcasting said: QE and zirp was a one-time trick really. It "works" to a certain point. Unfortunately, all it did was borrow heavily from the future. Payback was always going to happen and we're currently in the very early stages of that process. Even with deflation or at least inflation back at 2% or whatever, base rates will still be at 5% or more and likely stay there for years. Those with large amounts of debt are not getting out of 14 years of QE and ultra low interest rates that easily. Oh, there are all sorts of wonderful things that they could do at taxpayers' expense! 🤡 Return of MIRAS - maybe even offering a multiple rebate of the interest outstanding ... Government fronting the deposit - only needs to be repaid if house if sold within xx years... Government backed company to underwrite 25 year mortgages a-la FMAC... Unlimited timeframe for paying at least interest on mortgages for people on income support (so if you become unemployed, you can keep paying the mortgage) ... I'm sure there's much more that can come out of the toybox, when you have the power to dump the bills on the rest of the population. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 1, 2023 Author Share Posted September 1, 2023 3 minutes ago, Sour Mash said: Oh, there are all sorts of wonderful things that they could do at taxpayers' expense! 🤡 Return of MIRAS - maybe even offering a multiple rebate of the interest outstanding ... Government fronting the deposit - only needs to be repaid if house if sold within xx years... Government backed company to underwrite 25 year mortgages a-la FMAC... Unlimited timeframe for paying at least interest on mortgages for people on income support (so if you become unemployed, you can keep paying the mortgage) ... I'm sure there's much more that can come out of the toybox, when you have the power to dump the bills on the rest of the population. All very inflationary, bond markets would have a field day! Besides, I think there has been a quiet word behind the scenes about increasing spending/deficits since the Truss debacle... Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted September 1, 2023 Share Posted September 1, 2023 1 hour ago, Casual-observer said: The Ukraine spring/summer offense can barely reach the first line of defence and that's with the best of what NATO had to offer. Even Hitler recognised when to call it a day with the likes of the Battle of Kursk. Eh? The Ukrainians have reportedly broken the Russian second line of defence at Verbove. That’s it, no more mines to slow them down, the Russians collapse from here and that was with relatively minor support from NATO. If NATO was properly involved it would be embarrassing for the Russians. Quote Link to comment Share on other sites More sharing options...
Up the spout Posted September 1, 2023 Share Posted September 1, 2023 35 minutes ago, nero120 said: Let's not turn this into another Ukraine thread! My fault, I apologise for bringing it up! Not your fault, they were obviously outflanked and outgunned in the original one and were looking for any opportunity to attack somewhere else. I'm a bit surprised it took so long for them to decide changing tack was the better tactic, but then again they are really f*cking stupid. Quote Link to comment Share on other sites More sharing options...
Up the spout Posted September 1, 2023 Share Posted September 1, 2023 1 hour ago, Sour Mash said: Suddenly, grabbing all those overseas currency assets of Russia doesn't look like the galaxy-brain move that the mob of cretins running out governments thought it was back in 2022. Not that they have learned - they're actually doing their best to outright steal them, not just 'freeze' them. That will be an even dumber idea. Quote Link to comment Share on other sites More sharing options...
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