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The Plan Is Nearly Complete, You Suckers!

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Pump up house prices, make all feel good

Take over Blair, leaving no tension in the party

Increase interest rates rapidly slowing the housing market

Call election summer 2008 when 2 million will be paying far more in mortgages. Promising entry into the euro with its low 4% base rate “helping” all those mortgage holders cut their costs by 40%

Kill two birds with one stone, winning election and getting GB into the euro

Is this a possibility? Entry into the euro would sure keep HPI going for at lest another few years. And within 12 months there will be 2 million homeowners who would desperately want to lower the mortgage costs.

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Guest grumpy-old-man
Pump up house prices, make all feel good

Take over Blair, leaving no tension in the party

Increase interest rates rapidly slowing the housing market

Call election summer 2008 when 2 million will be paying far more in mortgages. Promising entry into the euro with its low 4% base rate "helping" all those mortgage holders cut their costs by 40%

Kill two birds with one stone, winning election and getting GB into the euro

Is this a possibility? Entry into the euro would sure keep HPI going for at lest another few years. And within 12 months there will be 2 million homeowners who would desperately want to lower the mortgage costs.

the UK, organising changing it's currency based on past or current projects = 10-20 years roll out plan. :lol::lol:

edited - we couldn't even implement the imperial or metric "project", so we use both at the same time. :blink:

Edited by grumpy-old-man

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the UK, organising changing it's currency based on past or current projects = 10-20 years roll out plan. :lol::lol:

edited - we couldn't even implement the imperial or metric "project", so we use both at the same time. :blink:

the point i wanted to make was

with every interest rate rise, support for the euro will grow and grow from those that have mortgages which is most of the population

so is it not conceivable that Gordon is increasing rates fast to get support for a euro entry from the public, on top of that the conservatives will be against the euro and if his party is pro euro. it could give him a lot of votes if he was to enter an election promising entry into the euro if he wins

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Pump up house prices, make all feel good

Take over Blair, leaving no tension in the party

Increase interest rates rapidly slowing the housing market

Call election summer 2008 when 2 million will be paying far more in mortgages. Promising entry into the euro with its low 4% base rate “helping” all those mortgage holders cut their costs by 40%

Kill two birds with one stone, winning election and getting GB into the euro

Is this a possibility? Entry into the euro would sure keep HPI going for at lest another few years. And within 12 months there will be 2 million homeowners who would desperately want to lower the mortgage costs.

the point i wanted to make was

with every interest rate rise, support for the euro will grow and grow from those that have mortgages which is most of the population

so is it not conceivable that Gordon is increasing rates fast to get support for a euro entry from the public, on top of that the conservatives will be against the euro and if his party is pro euro. it could give him a lot of votes if he was to enter an election promising entry into the euro if he wins

Oh my God......I agree with Cells.......somethings wrong.

Yes. I think €uro entry is a greater possibility for the UK and will become moreso as we get into more debt.

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being in the euro aint helping the paddies much. or the spanyards

perhaps not, but a base rate of 4% is far more attractive than a base rate of 5.75% to any mortgage or debt holder.

entry to the euro would lower mortgage rates enough so BTL becomes a possibility again, which will sustain the market further

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perhaps not, but a base rate of 4% is far more attractive than a base rate of 5.75% to any mortgage or debt holder.

entry to the euro would lower mortgage rates enough so BTL becomes a possibility again, which will sustain the market further

.....this is a wind up..... :P

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Guest Popalot

The interest rate differential message is way to complex for the general public. It is not a vote swinger. Raw Brit emotion will take over against the Euro, and they will NEVER be able to get this cooked up in time to prevent the HPC whcih is going to have firmly established itself by Christmas. Sentiment will take over and any flirtation with the Euro will backfire as the general anti-Brown feelings swell.

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Pump up house prices, make all feel good

Take over Blair, leaving no tension in the party

Increase interest rates rapidly slowing the housing market

Call election summer 2008 when 2 million will be paying far more in mortgages. Promising entry into the euro with its low 4% base rate “helping” all those mortgage holders cut their costs by 40%

Kill two birds with one stone, winning election and getting GB into the euro

Is this a possibility? Entry into the euro would sure keep HPI going for at lest another few years. And within 12 months there will be 2 million homeowners who would desperately want to lower the mortgage costs.

You hypothesis assumes static or falling ECB base rate. What evidence is there to support that assumption?

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Guest AuntJess
Pump up house prices, make all feel good

Take over Blair, leaving no tension in the party

Increase interest rates rapidly slowing the housing market

Call election summer 2008 when 2 million will be paying far more in mortgages. Promising entry into the euro with its low 4% base rate "helping" all those mortgage holders cut their costs by 40%

Kill two birds with one stone, winning election and getting GB into the euro

Is this a possibility? Entry into the euro would sure keep HPI going for at lest another few years. And within 12 months there will be 2 million homeowners who would desperately want to lower the mortgage costs.

I think the English are mostly pretty sceptical about going into Europe. Maybe it is something to do with mistrusting "furriners" :P . With good reason as most folk I know are p*ssed off with Brussels controlling us here.

If it went to a referendum there would be a defeat for old Gordy and his machinations will have come to nought.

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inflation is all over Euroland too dont you know, its not just our priveledge...who's to say their rates wont catch up with ours - if anything they are more hawkish than our own shower of shite (MPC)

When will you guys realise it is the Markets who will decide the fate of our Currency / HM....NOT this gubbernment ?

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The interest rate differential message is way to complex for the general public. It is not a vote swinger. Raw Brit emotion will take over against the Euro, and they will NEVER be able to get this cooked up in time to prevent the HPC whcih is going to have firmly established itself by Christmas. Sentiment will take over and any flirtation with the Euro will backfire as the general anti-Brown feelings swell.

I disagree. The general public well understand the difference between paying 8% mortgage rates in Sterling and 5% mortgage rates in the Euro. They will vote for it if they think that their mortgage outgoings are going to drop by over one third overnight. The thing they may also be able to understand is that an explosion in wage inflation thereafter will eat away at their debts. It may well be a seen as a very good thing - unless you do not have a house already which is a minority of the voting population. After all the only thing that people have to be told is look at Ireland and see how that benefited everyone. People will vote for a lose monetary policy and inflation if they have crippling levels of nominal debt - its economically rational. It is for Gordon brown too.

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You hypothesis assumes static or falling ECB base rate. What evidence is there to support that assumption?

no, my assumption is that our rate currently is 43.75% higher than the euro base rate.

both look like they will increase, but the difference of over 1.5% will stay for a while longer

if gordo decides to hold a winter 2007 or a spring/summer 2008 election on the promises of getting us into the euro if he wins, it will be a message a lot of mortgage holders would want to hear.

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I disagree. The general public well understand the difference between paying 8% mortgage rates in Sterling and 5% mortgage rates in the Euro. They will vote for it if they think that their mortgage outgoings are going to drop by over one third overnight.

exactly

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I disagree. The general public well understand the difference between paying 8% mortgage rates in Sterling and 5% mortgage rates in the Euro. They will vote for it if they think that their mortgage outgoings are going to drop by over one third overnight. The thing they may also be able to understand is that an explosion in wage inflation thereafter will eat away at their debts. It may well be a seen as a very good thing - unless you do not have a house already which is a minority of the voting population. After all the only thing that people have to be told is look at Ireland and see how that benefited everyone. People will vote for a lose monetary policy and inflation if they have crippling levels of nominal debt - its economically rational. It is for Gordon brown too.

A couple of problems with this. They've been telling us for almost ten years "look at Ireland" and there's been no more towards the Euro from the public - in fact the reverse.

You also have the fact that the Tories could point to the ERM and accuse Brown of trying to bring this back - with negative equity. True it presumes that they have at least half a brain, but the chance to turn Labour's most potent weapon - the memory of house price misery in the early 90s - against Labour should even make old Etonians realise their luck

I doubt that a cautious politician like Brown would go for a policy that has 3-1 opposition among the public unless he was very confident of victory. Even if he did persuade the British public that the Euro was a good thing this would be a suicidal diversion of energy.

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The eurozone hasn't been printing money like slaaags until quite recently (M4 is now apparently in the high teens?) so the EU may well rapidly adjust by 08. Just cos our pansy committee think 0.25% rises are the way to do things doesnt mean the ECB will do the same.

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Guest Charlie The Tramp
Promising entry into the euro with its low 4% base rate

Not in my lifetime unless my demise happens sooner than planned. ;)

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Guest happy?
Not in my lifetime unless my demise happens sooner than planned. ;)

All the posters on this thread so far have indulged in wild speculation, and ignored Gordon Brown's 3 famous Euro-entry tests, namely:

1. Can I control the Euro if we join it?

2. Can I control the Euro if we join it?

3. Can I control the Euro if we join it?

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All the posters on this thread so far have indulged in wild speculation, and ignored Gordon Brown's 3 famous Euro-entry tests, namely:

1. Can I control the Euro if we join it?

2. Can I control the Euro if we join it?

3. Can I control the Euro if we join it?

why would he care about control of the euro now that he is PM instead of chancellor, before now he would of lost all his power, but that isn’t true anymore

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Guest Charlie The Tramp
why would he care about control of the euro now that he is PM instead of chancellor, before now he would of lost all his power, but that isn’t true anymore

Is he not also First Lord Of The Treasury ? I bet Darling is more answerable to him than Brown was to Blair.

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why would he care about control of the euro now that he is PM instead of chancellor, before now he would of lost all his power, but that isn’t true anymore

why do you think Sarkozy is so concerned about the ECB? He is not his own country's financial minister.

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Guest Farticus
the point i wanted to make was

with every interest rate rise, support for the euro will grow and grow from those that have mortgages which is most of the population

the unemployed scummers run this country now, they mouth off more often about loss of their human rights, have been spreading like a cancer under labour, and they don't have mortgages.

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All the posters on this thread so far have indulged in wild speculation, and ignored Gordon Brown's 3 famous Euro-entry tests, namely:

1. Can I control the Euro if we join it?

2. Can I control the Euro if we join it?

3. Can I control the Euro if we join it?

Does anyone actually know what Gordon Brown's famous "Five tests of hell freezing over" are for Euro entry? And is he still standing by these?

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Would we join the Euro with a strong currency? Nope.

Wait for the £ to fall 30% then join.

We'd have been cutting our rates up to that point, post HPC, and we'd have had one HUGE run up in house prices that no-one would have the appetite to repeat.

So we could drift into the Euro with a competitive workforce cost, matching (low-ish) IRs and no incentive to spend it like Beckham, which is what has scuppered Ireland.

Edited by AvidFan

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