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I hope I am wrong, but I feel the figures are still only showing the tip of the iceberg of the debt issues being piled up.

Oh so much cheer that the latest trade deficit figures are slightly better than the (still) horrendous figures that were expected, oh so much cheer that debt takeup is not running at the levels of a few months ago - give me a break, the figures are still awful, unsustainable and still outstripping any ability to fund them in the future. Meanwhile people's incomes are being stretched fromt he other end too - hidden inflation through a manipulated index and increasing taxation.

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Read yesterday in the Metro that £5.4 Billion was borrowed for xmas. Over 500,000 people will be taking out consolidation loans over the next few months. This country has gone mad.

Also angry to see the new labour posters and Tony Bliar in the Houses of Parliament yesterday singing the labour praises of 'lowest mortgage rates for 30 years, lowest unemployment, lowest inflation'

I'm surprised labour want to be re-elected, I wouldn't want to be.

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Did anyone notice though that in one breath the mentioned record crippling debt and then in the very next that T.Blair was patting G.Brown on the back for how good the economy is......!!!!!!!!!!!!????????????

I mean does no-one elase see a problem there?

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From the BBC

Like-for-like sales in December, which exclude new stores, were down 0.4% on a year ago, a survey by the British Retail Consortium (BRC) and KPMG found.

Only sales of food and drink showed real growth, the study said.

...

Trading was sluggish for most of the month and only picked up in the last few days before Christmas, the BRC said.

While total sales were 2.5% higher than in December 2003, like-for-like sales - the industry's most closely watched benchmark - declined.

Yet the headline was that sales were the worst for 10 years!

I think what they mean is growth in sales worst for 10 years.

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the dip was slight month on month but said to be the worst performance in decades for the xmas period.

BRC-KPMG retail sales monitor table of data

Same Store Total

Dec -0.4% +2.5%

Nov -0.2% +2.4%

Oct +0.5% +3.0%

Sep +2.0% +4.6%

Aug +0.6% +3.2%

July +1.8% +4.3%

June +2.4% +5.0%

May +3.7% +6.5%

Apr +1.9% +4.9%

Mar +1.3% +4.4%

Feb +2.2% +5.3%

Jan +3.8% +6.8%

Dec -0.2% +2.3%

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xmas retail sales sucked

Dixon's results came in much better than the City expected:

http://www.leedstoday.net/ViewArticle2.asp...rticleID=918297

I don't think people are slowing down their spending at all. The UK's indebted consumers are like a spendthrift who deliberately spends as much as they can because they know they will go bankrupt in a couple of months time: we as a nation are sleepwalking into a mass default of biblical proportions.

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Perhaps a 'positive' spin on it would be:

Rate Rise scheduled for February

The Bank of England will be considering a February interest rate rise after Christmas sales rose 2.5% year-on-year in December, despite 4 interest rate rises in 2004 which were designed to control inflation and reduce consumer spending.

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Guest Charlie The Tramp
I hope I am wrong, but I feel the figures are still only showing the tip of the iceberg of the debt issues being piled up.

Sadly you are not wrong.

Watch out next month when it`s pay back time, the borrowing will outstrip repayments, and the projection of 1.1 trillion by summer looking more realistic.

As borrowing falls the lenders will be making their profits from the massive interest due on all this borrowed money, and a .25% future rise in rates will be more cream on their cake. Am I wrong, the banks don`t seem to be leading the way in asking for rate cuts. :D

'People are becoming more worried about their debts. Previously I think people remortgaged, which masked the problem, but there are less attractive deals on the market so they are having to face up to their problems.'

And now it`s come to the end. :(

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Guest pioneer31
Also angry to see the new labour posters and Tony Bliar in the Houses of Parliament yesterday singing the labour praises of 'lowest mortgage rates for 30 years, lowest unemployment, lowest inflation'

I'm surprised labour want to be re-elected, I wouldn't want to be.

I'm not surprised. it doesn't matter what state this sorry Island is in, the govt just spin, cover up and fudge everything. They ALL want to be in power. That's all there is to it.

NOTHING will prevent them walking off into retirement with the country mansion, FAT pension, knighthood and all the rest.

:angry: :angry:

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On this threat of debt just heard on news 24 a so called expert when asked should we be worried about debt at these levels his response was we should see this as a positive step as people are now reporting more debt problems and so the 77% rise reflects this.

mmmm.. Thats alright then, the problem is solved.

FACT:

Mortgage lending worse for 10 years...

Christmas spending worse for 10 years...

Indeed I do wonder where the BBC seem to get these clowns from.

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Did anyone notice though that in one breath the mentioned record crippling debt and then in the very next that T.Blair was patting G.Brown on the back for how good the economy is......!!!!!!!!!!!!????????????

I mean does no-one elase see a problem there?

This situation, Brown not speaking to blair is very convenient for Brown.

He (brown) can now avoid lots of awkward quesions.

His debt (i.e. uk government debt created by him) can carry on.

Wasn't that other chancellor (Tory - Norman Lamont) very popular until right up to the end. (Then the truth came out, he was an obsessive gambler is his private life, an obsession which he took in to his job as chancellor.)

Blair has proved himself to be a very great fool. This will continue.

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We drown in trillion pound debt. We are spending as if there is no tomorrow. Our politicians and many of the economists, tabloids and media like BBC and Channel 4 are encouraging us to borrow and spend more. Todays news shows that Britain is going to pay 10% of the debt of Mozambique to the world bank etc!!!. Where is Brown going to find the money to help the African countries? More borrowing? Is he sure that the future generation here would not be struggling to pay off his misdemeanours?

http://news.bbc.co.uk/2/hi/uk_news/1050938.stm

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  • 441 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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