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10 Pm Fri 14th Sept 2007 - The Tipping Point

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Not being of melodramatic character, nonetheless tonight I was overwhelmed watching the news. This was the moment when the lumpectomy report came back from the clinic - bad nnneeewwws.

Off the back of the krapshow of NR skidding and burning, the "television-viewing population" were told that the credit crunch meant that the charade was over.

There is no credit being supplied to fuel the stupid multiples. It has stopped. You are phuqqed.

It has stopped...'plink'.....'plonk'....

Watch this pschitt phuqqinq spread.

Schadenfreude indeed...

Amazing TV

GT

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I thoroughly enjoyed the first report on the ten o'clock news they even mentioned how the current turmoil in the credit market is likely to have an effect on house prices.

The teddy bears picnic has just turned into a banquet! :lol::lol::lol:

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My wife thought I was being a touch paranoid when I started to spread the STR pot - not any more.

Very bearish.

Well done! You'll get some good lovin' tonight!

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Guest Bart of Darkness

If you go down to Northern Rock today you're sure of a big surprise

If you go down to Northern Rock today you'd better go in disguise

For every bear that ever there was is sure to be there today because

Today's the day the bears are putting the boot in.

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Not being of melodramatic character, nonetheless tonight I was overwhelmed watching the news. This was the moment when the lumpectomy report came back from the clinic - bad nnneeewwws.

Off the back of the krapshow of NR skidding and burning, the "television-viewing population" were told that the credit crunch meant that the charade was over.

There is no credit being supplied to fuel the stupid multiples. It has stopped. You are phuqqed.

It has stopped...'plink'.....'plonk'....

Watch this pschitt phuqqinq spread.

Schadenfreude indeed...

Amazing TV

GT

...it was basically one of the times the media was forced to face facts and unable to make excuses...... :ph34r::ph34r::ph34r:

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...it was basically one of the times the media was forced to face facts and unable to make excuses...... :ph34r::ph34r::ph34r:

Maybe, and I missed this news report but here are some questions I still have not heard asked on the mainstream today:

  • What happens to BoE policy on NR if the credit crunch continues?

  • What happens if/when NR loses every single depositor and gets no new mortgages?

  • What impact will this have on housing market sentiment?

  • The FSA and Government role in allowing NR not to plan for this eventuality?

  • Who has the UK sub-prime market (because someone has it)

  • What will happen to the house of cards now the the bottom layer has been taken out?

And that's just for starters.

These seem blindingly obvious questions - are they being avoided deliberately or is it bad journalism?

Edited by Starcrossed

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damn right GT.

I mean, for crying out loud... a run on a high street bank... in the UK... that's not the kind of shizzle that happens every day now, is it?

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Not being of melodramatic character, nonetheless tonight I was overwhelmed watching the news. This was the moment when the lumpectomy report came back from the clinic - bad nnneeewwws.

Off the back of the krapshow of NR skidding and burning, the "television-viewing population" were told that the credit crunch meant that the charade was over.

There is no credit being supplied to fuel the stupid multiples. It has stopped. You are phuqqed.

It has stopped...'plink'.....'plonk'....

Watch this pschitt phuqqinq spread.

Schadenfreude indeed...

Amazing TV

GT

Yes I agree. Just as on 31 August 1988 when double MIRAS came to an end there was a frenzy of buying in the months from when the chancellor gave notice of his intention to abolish it on 31/8/1988

The media have now got a new story to run with along side the Macanns

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