Jump to content
House Price Crash Forum
PalmerEldritch

Boe Take Property Blame

Recommended Posts

Would it not have caused less hardship if a recession had been allowed in the UK rather than allowing the conditions whereby UK citizens are now in huge debt.

Share this post


Link to post
Share on other sites

I guess the next question is when are IR going to rise and by how much?

Also when is credit going to be tightened - the lenders must now see that we are talking a matter of months for a full blown correction - so no 5X mortages or 115% deals or even 100% deals anymore.

Share prices for the banks must also be affected??

HAL

Share this post


Link to post
Share on other sites
Would it not have caused less hardship if a recession had been allowed in the UK rather than allowing the conditions whereby UK citizens are now in huge debt.

So now people are going to have to deal with recession and massive debt.

Share this post


Link to post
Share on other sites

This isn't the whole story from Steady Eddie. We had HPI before 9/11, and the economic significance of 9/11 was minute - loss of some office space and a couple of thousand workers is all. There was no need to "react" at all, the economies of the Western world would have shrugged it off. Flea bites lion would be the apt comparison.

No, the truth is worse. New Labour wanted to buy perpetual power by bribing us with our own money. They have hired 800,000 new public sector workers during their term in office, each one they fondly imagine is a tame voter. On top of this they've showered benefits on "their" people. Each grateful single mum is another voter in the bag. (By a strange coincidence there are 800,000 lone parents as well.)

Of course this takes cash, oodles of cash, so they taxed and taxed (stealthily) and to keep the economy from collapsing under the tax burden they stoked HPI. MEW to the rescue! They mortgaged our future so they could have their decade in the sun, leaving us with the largest public and private debt mountain the country has ever known.

Share this post


Link to post
Share on other sites
Would it not have caused less hardship if a recession had been allowed in the UK rather than allowing the conditions whereby UK citizens are now in huge debt.

Yeah, but the cretinous Champagne Socialists would have lost power.

Share this post


Link to post
Share on other sites

FTSE 100 +40 since the news was posted.

It's either under the radar or not relevant.

I suspect it's the latter in the sense that:

1. The markets all know full well what the BOE/Fed etc have been up to

2. They were quite happy to go along with it

and

3. They know the game's up so the revelation comes as no surprise

I think we are going to face facts.

We have been screwed and the b4stards have got away with it. End of story.

Share this post


Link to post
Share on other sites
Can I say it? Can I? Puh-lease!!

Do we have our trigger?

Not sure, this is a sentiment thing, not an action - that'll come in the budget, I guess. Goodness knows whether this release was intended to help, or shaft, GB... I'm just stunned about the openness of it. Interesting times...

P.

Share this post


Link to post
Share on other sites
This isn't the whole story from Steady Eddie. We had HPI before 9/11, and the economic significance of 9/11 was minute - loss of some office space and a couple of thousand workers is all. There was no need to "react" at all, the economies of the Western world would have shrugged it off. Flea bites lion would be the apt comparison.

No, the truth is worse. New Labour wanted to buy perpetual power by bribing us with our own money. They have hired 800,000 new public sector workers during their term in office, each one they fondly imagine is a tame voter. On top of this they've showered benefits on "their" people. Each grateful single mum is another voter in the bag. (By a strange coincidence there are 800,000 lone parents as well.)

Of course this takes cash, oodles of cash, so they taxed and taxed (stealthily) and to keep the economy from collapsing under the tax burden they stoked HPI. MEW to the rescue! They mortgaged our future so they could have their decade in the sun, leaving us with the largest public and private debt mountain the country has ever known.

Fantastically well put!!

Share this post


Link to post
Share on other sites
We bears were right all along.

Bulls - you guys can go eat the Brown stuff.

:lol::lol::lol::lol:

What do you mean?

Every single time someone says "hooray we're heading for recession / depression / 1929" I pop up and say something like -

They'll inflate our way out...

They'll increase public spending

They'll avoid that at all costs...

... and I think they still will. They (being the govt) want the Economy to keep going as fast a possible. Even if they hit their target for inflation we still will have .... inflation.

Share this post


Link to post
Share on other sites

So, the other key message here is that, by inference, the Government knowingly allowed the inflation figures to be fiddled - possibly an even bigger story which would see this mob out of power quicker than you can say HousePriceCrash.....

Share this post


Link to post
Share on other sites
The other bit I liked was that there were only two ways of keeping the economy moving forward - consumption and public spending.

Surely consumption must be running out of steam soon. So does public spending take over ? If so, where are they going to get the dosh from - increased taxes ?

More likely that we'll run into recession I think.

What is clear to me is the BoE had 2 choices, consumption and public spending. The BoE chose consumption in the mean time Gordy chose public spending. End result? - enormous bubble which will probably be followed by the biggest recession of my lifetime.

Share this post


Link to post
Share on other sites
Not sure, this is a sentiment thing, not an action - that'll come in the budget, I guess. Goodness knows whether this release was intended to help, or shaft, GB... I'm just stunned about the openness of it. Interesting times...

P.

Well whatever the repercussions it has helped with my sanity (cognitive dissonance and all that), so I have decided to celebrate with a loony new avatar. Come with us now...

Share this post


Link to post
Share on other sites
So, the other key message here is that, by inference, the Government knowingly allowed the inflation figures to be fiddled - possibly an even bigger story which would see this mob out of power quicker than you can say HousePriceCrash.....

Yep master fiddlers and I ain't talking no violin playing!!

Share this post


Link to post
Share on other sites
Guest mattsta1964
This isn't the whole story from Steady Eddie. We had HPI before 9/11, and the economic significance of 9/11 was minute - loss of some office space and a couple of thousand workers is all. There was no need to "react" at all, the economies of the Western world would have shrugged it off. Flea bites lion would be the apt comparison.

No, the truth is worse. New Labour wanted to buy perpetual power by bribing us with our own money. They have hired 800,000 new public sector workers during their term in office, each one they fondly imagine is a tame voter. On top of this they've showered benefits on "their" people. Each grateful single mum is another voter in the bag. (By a strange coincidence there are 800,000 lone parents as well.)

Of course this takes cash, oodles of cash, so they taxed and taxed (stealthily) and to keep the economy from collapsing under the tax burden they stoked HPI. MEW to the rescue! They mortgaged our future so they could have their decade in the sun, leaving us with the largest public and private debt mountain the country has ever known.

MATE! That is a perfect summary of NuLab

Share this post


Link to post
Share on other sites
Can I say it? Can I? Puh-lease!!

Do we have our trigger?

Now everything is starting to come toegther - hence why we have adopted the CPI, low measured inflation but high real inflation, a blind eye cast to HPI, a blind eye on sub-prime - get everyone in debt and let them spend our way out of recession.

This was their version of a helicopter drop!!!!! Blair and Prescot of course sucking more out of this than most!!!

So what is the connection with the war in Iraq????? There is a connection.

HAL

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 315 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.