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the end is a bit nigher

Sunday Express Today

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can you type some of it out for us to read? pleeease

Looking for it on their web site now. Pretty tricky as its wall to wall McCanns!

Edited by rover2000

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I have it in print (the mother in law reads it I remembered). The title is: A crisis that is about to bring all our walls crashing down

I'll try and write a few good bits unless someone find it

Edited by DoctorJ

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not like the utter crap printed in the daily mail on friday, they fail to report the true potential of the subprime fall out. Instead hype up the potenial of cheaper mortages due to "maybe" the BOE reducing base rate next year. :blink:

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Analysts believe this latest (credit) crisis will be ushered in by the high st banks being forced to raise rates, whatever the BoE does to discourage them.

That coulc tip an already vulnerable property market over the edge and into freefall

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I have it in print (the mother in law reads it I remembered). The title is: A crisis that is about to bring all our walls crashing down

I'll try and write a few good bits unless someone find it

Didn't know cgnao was a staff writer there now? :lol:

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Evidence that the UK is following the US into a property crisis comes from the credit rating agency Standard and Poor's. It warned that signs of stress were emerging in the British sub-prime industry

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Rising mortgage rates and the expected squeeze on consumer credit will go hand in hand with rising prices for goods and services, experts warn. A combination of factors is about to push the price of essentials like food and fuel sky high.

The biggest factor affecting prices is the cost of oil which is approaching record levels and is forcast to remain there for the foreseeable future

Edited by DoctorJ

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Recent events such as floods and turmoil in the financial markets may also be having an impact on sentiment.

British financial historian Edward Chancellor warned that the british and US economies have been "badly corrupted" by the huge growth of debt over recent years

This is all on page 19 of todays SE

Edited by DoctorJ

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sorry guys, read it at my mum's earlier, but from memory, it talked about the housing market already being on the edge, someone saying this would be worse than the late 80's and an economic historian saying something very significant but I can't remember what!

Doctor J, if you are still about would you mind telling us what the economic historian said? - it was basically what the bears have been saying on here for ages

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The growth of credit has created an illusory prosperity while producing profound imbalances in the British and US economies. When credit ceases to grow, the weakened state of these economies will become apparent.

It will also become clear that the credit boom, by inflating asset prices and boosting profits, has led to inappropriate balance sheets. At some stage, balance sheets will have to be adjusted to face a new reality. The process of adjustment is likely to be painful. it may well end in extraordinary deflation or an extraordinary inflation

This is what the historian said. This is the last paragraph of the article. Scary stuff.

Edited by DoctorJ

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This is what the historian said. This is the last paragraph of the article. Scary stuff.

THis has all been said before, in many ways. My favourite is,

When the tide goes out, we shall see who has been swimming naked.

Good old Mr Buffet. Any links to where he is storing his money at the moment?

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