azogar Posted February 16, 2009 Share Posted February 16, 2009 I honestly do see your point but personally I found Churchill's post very patronizing and that annoyed me.If I had of made Post #308 in reference to anyone who was affected by the crash then I think Churchill would have had a valid point. His post suggests that this couple have found themselves in this position through no fault of their own, which quite frankly is retarded. No sympathy from me to the couple either - their greed was their downfall. However, doccy has had to fend off repeated bull attacks of late and allowing your post to stand (with the added swear words ) would have smacked of bias. It wasn't the message YoungFTB, it was some of the colourful language used!!! fwiw, I seriously doubt Winston could have read the linked article properly Quote Link to comment Share on other sites More sharing options...
passedit Posted February 16, 2009 Share Posted February 16, 2009 (edited) I thought it was lack of credit holding back house sales Edited February 16, 2009 by passedit Quote Link to comment Share on other sites More sharing options...
YoungFTB Posted February 16, 2009 Share Posted February 16, 2009 No sympathy from me to the couple either - their greed was their downfall. However, doccy has had to fend off repeated bull attacks of late and allowing your post to stand (with the added swear words ) would have smacked of bias.It wasn't the message YoungFTB, it was some of the colourful language used!!! fwiw, I seriously doubt Winston could have read the linked article properly Go back and look at post 309. Poster had been a member for 30 minutes. Could have been a troll or plain couldn't read. I would refer you to a previous post made by yourself. http://www.housepricecrash.co.uk/forum/ind...t&p=1653436 Fair point guys, I'm sorry. I was having a bad day yesterday but it doesn't excuse my language nor my abusive post. You were right to delete my post Doccyboy and thanks for pointing out my mistake P.P. Quote Link to comment Share on other sites More sharing options...
yadayada Posted February 16, 2009 Share Posted February 16, 2009 Yep Churchill is right, I'm just being nasty! This couples misfortune had nothing to do with insane amounts of greed, no no! It was just bad lucky and poor timing through no fault of their own Look at it the other way - they prevented 12 fortunate people from buying overpriced houses at the height of the boom and losing years bogged down in negative equity. Lucky escape, people - I think we need to respect this pair's selflessness. Quote Link to comment Share on other sites More sharing options...
azogar Posted February 16, 2009 Share Posted February 16, 2009 Fair point guys, I'm sorry. I was having a bad day yesterday but it doesn't excuse my language nor my abusive post. You were right to delete my post Doccyboy and thanks for pointing out my mistake P.P. hey no worries; I've had my fair share of run 'ins on here, so I speak from experience! Quote Link to comment Share on other sites More sharing options...
Malthus Posted February 17, 2009 Share Posted February 17, 2009 http://www.bloomberg.com/apps/news?pid=206...&refer=home The European Commission predicts budget shortfalls this year of 11 percent of gross domestic product in Ireland, 3.7 percent in Greece, 6.2 percent in Spain and 3.8 percent in Italy, compared with 2.9 percent in Germany. The EU ceiling is 3 percent. “Some countries are slowly getting into difficulties with their payments,” Steinbrueck said late yesterday in a speech in Dusseldorf. “The euro-region treaties don’t foresee any help for insolvent countries, but in reality the other states would have to rescue those running into difficulty.” Moral hazard writ large :angry: Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted February 17, 2009 Share Posted February 17, 2009 morgan kelly telling it straight http://www.irishtimes.com/newspaper/opinio...4241278003.html que the music http://www.youtube.com/watch?v=TziyOcb96q0 rock on! Quote Link to comment Share on other sites More sharing options...
Churchill Posted February 17, 2009 Share Posted February 17, 2009 morgan kelly telling it straighthttp://www.irishtimes.com/newspaper/opinio...4241278003.html que the music http://www.youtube.com/watch?v=TziyOcb96q0 rock on! The Current Irish Government could possibly employ "Paul Daniels" the magician to pull something out of his hat, cos its not looking good over there, Maybe they could exchange Debbie Mc Gee for a few Billion Quid. Sounds like one hell of a trade in. Its time to call Paul Daniels I think! http://www.youtube.com/watch?v=OR9XSptXF_A Quote Link to comment Share on other sites More sharing options...
md23040 Posted February 17, 2009 Share Posted February 17, 2009 (edited) morgan kelly telling it straighthttp://www.irishtimes.com/newspaper/opinio...4241278003.html Diary of Dublin over the last seven days Lawyers continue to have a field day arguing case and contract law in the pursuit of trying to welch their clients out of property deals. This week Treasury Holding sues Harry Crosbie Holdings for failing to pay interim interest of €3million on a joint venture property deal that was due settlement last December. In turn Harry Crosbie Holding counter sues for €70million. Neither party may have a pot worth pissing in, yet the farce continues in the Commercial Courts with lawyers playing the merry dance. Government and commerce certainly do not mix and Morgan Kelly in today’s Times spells it out pretty clearly. It is clear the government undertook no due diligence before guaranteeing all bank loans held in the state last October, bad mistake. However three months later still no proper due diligence on the banks and their loan books has been undertaken - yet €7bn has been given in capitalisations. Proper due diligence is only being undertaken now. It is akin to paying an over the odds for a car on EBay without even a photo, then on delivery noticing a missing engine. To compound matters it is very clear that Dublin house prices remain floating on fresh air; yet again as part of the capitalisations the banks must commit €1bn to first time buyers with loans at one year tracker rates of 2.45% with tax relief at source increased from 15% to 25% for FTB’s. It seems the government are trying desperately to bandage a property market through bad loan provisions for assets that will likely continue to depreciate. These bad loan provisions will be held by banks with too many bad loan provisions already. Now what was that before about lax lending procedures and lack of regulation causing the problem in the first place? Compound onto this, the banks good hands has been tied again by more government intervention, namely bad debts can no longer be foreclosed - repossession orders have a 12 month moratorium imposed. Banks and government are now firmly tied together and both are stuck between a rock and a hard place. Their destiny remains at the hands of global bond markets that continue to constrict, but politicians pray and gamble for the opposite outcome. What are the odds? Finally to give a barometer of the direness of the housing market, the government last October decided to offer a credit lines at base rate +.5% to first time buyers who could not secure credit from mainline banks. Despite lots of PR and numerous enquiries, after the first four months four people have formally applied. What an imitative to kick start the economy, unfortunately their latest tinkering to prop the housing market will cost a lot more lolly. Maybe the Queen will take us back if we apologise with enough contrition for 1916? Edited February 17, 2009 by md23040 Quote Link to comment Share on other sites More sharing options...
Malthus Posted February 17, 2009 Share Posted February 17, 2009 Maybe the Queen will take us back if we apologise with enough contrition for 1916? Maybe just sell Donegal to the Uk , although if you go by the US buying Alaska from the Russians it could be Cork Quote Link to comment Share on other sites More sharing options...
azogar Posted February 17, 2009 Share Posted February 17, 2009 Maybe the Queen will take us back if we apologise with enough contrition for 1916? She may have her hands full with the locals anyway! http://www.marketoracle.co.uk/Article8926.html quite a detailed article examining many aspects of the UK economy going forward over the next few years Quote Link to comment Share on other sites More sharing options...
needle Posted February 17, 2009 Share Posted February 17, 2009 Maybe just sell Donegal to the Uk , although if you go by the US buying Alaska from the Russians it could be Cork Youse can have them both. Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted February 17, 2009 Share Posted February 17, 2009 She may have her hands full with the locals anyway!http://www.marketoracle.co.uk/Article8926.html quite a detailed article examining many aspects of the UK economy going forward over the next few years rather depressing reading PP rock on! Quote Link to comment Share on other sites More sharing options...
Malthus Posted February 18, 2009 Share Posted February 18, 2009 http://news.bbc.co.uk/1/hi/northern_ireland/7897310.stm The Civil and Public Service Union has balloted its members for strike action, the result of which is expected on Thursday. Anyone want to take a bet on a general strike in the ROI this year ? http://en.wikipedia.org/wiki/UK_General_Strike_of_1926 Quote Link to comment Share on other sites More sharing options...
getdoon_weebobby Posted February 18, 2009 Share Posted February 18, 2009 She may have her hands full with the locals anyway!http://www.marketoracle.co.uk/Article8926.html quite a detailed article examining many aspects of the UK economy going forward over the next few years read that this morning. sums up where the uk is heading if you ask me. think its time to buy now the commodities i will need in the future http://www.etfsecurities.com/en/securities...performance.asp Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted February 18, 2009 Share Posted February 18, 2009 http://news.bbc.co.uk/1/hi/northern_ireland/7897310.stmAnyone want to take a bet on a general strike in the ROI this year ? http://en.wikipedia.org/wiki/UK_General_Strike_of_1926 a public sector strike could be part of the govs plan just think how much it would reduce the wage bill and those in the private sector will i expect have little sympathy for the bureaucrats with their indexed linked pay, bonuses and pensions or am i just too cynical? rock on! Quote Link to comment Share on other sites More sharing options...
YoungFTB Posted February 21, 2009 Share Posted February 21, 2009 "The elephant in between the property ads" From the Pinhttp://www.mediabite.org/article_The-Eleph..._665274077.html the symbiotic relationship between the media and the property boom. That's a great article! Quote Link to comment Share on other sites More sharing options...
Vespasian Posted February 21, 2009 Share Posted February 21, 2009 Good points well made, sometimes its hard to remember 10 years ago when TV wasn't full of property programmes, newspapers featuring property experts. Amazingly, all these VIs are still being given media time, trying to talk up the market. Gary McAusland was on during the week talking about getting "property bargains" in the downturn. Hopefully the new financial reality will knock residential property investment somewhat on the head Quote Link to comment Share on other sites More sharing options...
mr slump Posted February 21, 2009 Share Posted February 21, 2009 just read the first tbit well well well... from the article>> Few will dispute that "the Irish media for the last 10-15 years have had a crucial economic stake in a rising property market." It is no secret for instance that in July 2006 the Irish Times bought the property website MyHome.ie for €50 million or that three months earlier Independent News & Media acquired PropertyNews.com, the "largest internet property site on the island of Ireland." bit of digging quick look on the site of Independent News & Media n the UK (including Northern Ireland), the Group publishes the quality national titles The Independent and The Independent on Sunday. Londoncareers magazine is the highest distributed jobs magazine in the London area. It also publishes sports magazines in the UK.The group also owns the Belfast Telegraph group, which is the largest newspaper publisher in Northern Ireland, with a unique metropolitan franchise and an excellent track record. It has two main titles, The Belfast Telegraph and Sunday Life, and is also the number one contract printer in Ireland, with a new state-of-the-art print plant constructed in Newry. my posts on the bel tel are going to take a turn.. Quote Link to comment Share on other sites More sharing options...
mr slump Posted February 21, 2009 Share Posted February 21, 2009 it just gets better heres the share value for Independant news + media who own both the belfast telegraph (+sunday life) + property news down over 90% since this time last year ...........90%!!! http://www.inmplc.com/investor-relations/s...100&shares= they own a lot of papers + jobfinder style sites around the world ah well at least we have the news letter Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted February 22, 2009 Share Posted February 22, 2009 http://www.independent.ie/national-news/sc...ry-1649052.html seems the money men have lost the faith in the septic pussy! 10 billon moved last week! gonna be some hard rain fall on the bono boomers! http://www.youtube.com/watch?v=VNdPWv9D4S4 whers my unbrella? rock on! Quote Link to comment Share on other sites More sharing options...
azogar Posted February 22, 2009 Share Posted February 22, 2009 http://www.independent.ie/national-news/sc...ry-1649052.htmlseems the money men have lost the faith in the septic pussy! 10 billon moved last week! gonna be some hard rain fall on the bono boomers! rock on! If people are taking money out of RoI en masse it is a very bad sign because as they are eurozone,, it is not being done because of the currency (unlike Iceland). Hence, there can be little faith in the Govt.s promise to safeguard deposits. This is getting worse by the day Quote Link to comment Share on other sites More sharing options...
blindside Posted February 23, 2009 Share Posted February 23, 2009 A very good summary of the various issues facing the Irish economy here: http://www.finfacts.ie/irishfinancenews/ar...e_1016011.shtml A total mess! The emerging public & private sector fault line could be mirrored in the North very soon. Quote Link to comment Share on other sites More sharing options...
Rock-n-Roll Posted February 25, 2009 Share Posted February 25, 2009 A very good summary of the various issues facing the Irish economy here:http://www.finfacts.ie/irishfinancenews/ar...e_1016011.shtml A total mess! The emerging public & private sector fault line could be mirrored in the North very soon. ah alls well europe may ride to the rescue! http://www.independent.ie/business/irish/e...nd-1651903.html interest rates also get a mention quote "Mr Weber said short-term deposit rates are also leading towards the zero rate and the rate the ECB pays for deposits is 100 basis points below the key rate, and "that rate can't fall below zero". He also warned that as soon as the economic crisis is over, "interest rates will have to be raised quickly again". Mr Weber said that while German inflation rates may turn negative towards the middle of the year, he did not see a deflation spiral and instead "we have to be concerned about inflation in the medium-term." so where is this deflation gordon + boe keep forecasting? was talking to a garden equipment supplier this morning his words the good jap stuff price is going through the roof eg very well known make of strimmer last year he could sell at 275 this year 375 needless to say he did not order as many as last year who would have thought the unravelling of the jap carry trade and subsequent yen strenght would allow the rough grass to grow in ballymena? rock on! Quote Link to comment Share on other sites More sharing options...
Malthus Posted February 26, 2009 Share Posted February 26, 2009 Hearts and Minds on BBC2 discussing how fooked the ROI economy is , on now Quote Link to comment Share on other sites More sharing options...
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