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Guest Charlie The Tramp

Budget 2008: Alistair Darling's D-day Box

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Guest Charlie The Tramp
This is Alistair Darling's Crunch Budget - in every sense of the word. In less than a fortnight's time the Chancellor has his biggest Parliamentary set-piece so far and things could hardly look more inauspicious. The credit crunch has persisted longer than many expected; the economy is heading for the buffers; house prices are falling in most parts of the country and the public finances have worsened. To top it all off, he is facing calls to resign following a series of blunders over capital gains tax, non-domiciles tax changes and, lest we forget, Northern Rock.

Budget 2008: Alistair Darling's D-day box

Will Alistair survive or fall, the Vultures will be waiting.

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Darling has the job of clearing up the mess created by his boss - and its the sort of mess that you need more than one budget to fix.

And he's not going to get the chance for more than one or two! :P:lol:

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The credit crunch has persisted longer than many expected

The "many" being those who do not have a clue and VIs. The credit crunch was recognised early on as being very serious by players in the money markets. If the crunch was just a blip it would not be a crunch, but just a false scare.

The crunch is the end of the biggest wave of cheap credit that the world has seen.

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Guest Charlie The Tramp
The crunch is the end of the biggest wave of cheap credit that the world has seen.

Never to be seen again for many years, the CBs can slash rates but the Lenders will not join in the game, one burnt finger OK, the whole hand no way. ;)

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The credit expansion is bigger than the 1920s, people with mortgages will be hit hard very hard.

wages will drop as it becomes harder to get a job, default on their mortgages. It's not looking good i expect a few wealthy individuals to lose all.

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  • 294 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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