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Optobear

What Effect Will Crunch Have On The Preparations For Olympics?

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I might be being a bit of an ostrich - head in the sand, but setting aside immediate worries like housing and bank collapses, what will be the effect of the credit crunch on the plans and execution of the London Olympics? Increased interest rates must send the costs soaring. Ditto with falling pound. Raising money for building projects can't be looking too easy?

I can't help wondering whether the London Olympics doesn't have the making of a right old reputational disaster for the UK?

Or maybe, the Olympic boost effect will come in, and help the UK out of the recession?

Thoughts?

Optobear

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I might be being a bit of an ostrich - head in the sand, but setting aside immediate worries like housing and bank collapses, what will be the effect of the credit crunch on the plans and execution of the London Olympics? Increased interest rates must send the costs soaring. Ditto with falling pound. Raising money for building projects can't be looking too easy?

I can't help wondering whether the London Olympics doesn't have the making of a right old reputational disaster for the UK?

Or maybe, the Olympic boost effect will come in, and help the UK out of the recession?

Thoughts?

Optobear

The tax payer will be forking out for this white elephant for decades. Government finance are already in a total mess (not including NR) this will only add to the mess.

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The 2012 Olympics should be fine; the big problem last year was that the building works were costing loads. This time next year we'll be using Stratford as a masssive job-creation scheme for all the unemployed brickies with nothing to do now that the ar*e has fallen out of the Property Ladder/Grand Designs/Locationx3 market.

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The 2012 Olympics should be fine; the big problem last year was that the building works were costing loads. This time next year we'll be using Stratford as a masssive job-creation scheme for all the unemployed brickies with nothing to do now that the ar*e has fallen out of the Property Ladder/Grand Designs/Locationx3 market.

Although doesn't the budget rely on shifting a load of property after the olympics for some fairly good prices? Sounds like they could have bought everything during the boom and then have to try and shift it mid bust, could go very wrong indeed.

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Can anyone explain to me why the hell they are building the thing in Stratford for a horrific sum of money, rather than capitalise on the huge size of the Greenwich DOME white elephant and all the massive billions poured into the Jubilee line extension in transport infrastructure???

(Anyone would think they came up with it all on a back of an envelope and forgot to add VAT)

Edited by brainclamp

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Although doesn't the budget rely on shifting a load of property after the olympics for some fairly good prices? Sounds like they could have bought everything during the boom and then have to try and shift it mid bust, could go very wrong indeed.

still another two years to go until it bottoms out after the olympics, glut of properties, instititutional seller, might be a good time to buy, deadly serious

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Can anyone explain to me why the hell they are building the thing in Stratford for a horrific sum of money, rather than capitalise on the huge size of the Greenwich DOME white elephant and all the massive billions poured into the Jubilee line extension in transport infrastructure???

(Anyone would think they came up with it all on a back of an envelope and forgot to add VAT)

Anyone who has ever tried to get home after a concert at the O2 will be able to give you a succint and clear answer.... if I'm unfortunate enough to like a band that's playing there, I have a night off the booze and go by motorbike.

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I`ve said it once and I`ll say it again: there is no point in hosting the Olympics as it will make the UK look sh*t for two reasons:

1. The venue will be sub-standard, behind completion and way over budget (if things go according to plan).

2. UK athletes will do cr*p in all events and be a laughing stock.

English say: `They couldn`t organise a p*ss-up in a brewery`

Chinese say: `English can`t organise Olympics in own country!` :rolleyes:

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The 2012 Olympics should be fine; the big problem last year was that the building works were costing loads. This time next year we'll be using Stratford as a masssive job-creation scheme for all the unemployed brickies with nothing to do now that the ar*e has fallen out of the Property Ladder/Grand Designs/Locationx3 market.

You're right that labour costs ought to fall!

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Whilst it's true that the Games will prove a godsend to the construction industry that is going to get decimated in the next couple of years, the costs will be horrendous.

If you look at the funding structure, billions are supposed to be raised from a combination of post games land sales and special lottery tickets. Both sources are likely to be well short of budgeted targets as the HPC/recession bite.

We can also be sure that the final coats will overrun massively. There are already big issues regarding the aquatic park with several designs already rejected as they were found too costly. On one major project, two of the initial bidders have withdrawn leaving Carillion sole contractor with all what that implies in terms of costs overrun (fixed date - one contractor ......)

In any case, the lethal cocktail of unfolding HPC and worsening credit crunch must be causing big headaches to the 'delivery' quango ......

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As for the Beijing olympics - just as it looked like China's romp towards being the world's number 1 superpower was unstoppable...comes Tibet.

The Chinese and the Tibetans know that if the Chinese authorities put a foot wrong now the Olympics could well be stuffed.

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Lets not forget the china is completely commie and a huge amount of their economy is driven by counterfitting, sweatshops, child labour etc. Plus they have a billion people who will work for peanuts rather than our chavs who would rather stay on the dole.

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What does it matter if the British team don't win much? They don't win much anyway and I didn't think we were going to all this trouble just to give them the home advantage?

Also, I did read somewhere else that part of the way of paying for it was to sell the olympic village afterwards. It turns out that they extrapolated house prices like that think tank did that said houses will be 20 times salary in 2020. They've already worked out with the slight slowdown that their figures might be a 'tad optimistic'.

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G.P. Pay - Done (the taxpayers that is)

------------------------------------------------------------

Cost of Olympics by T.Jowell | 28p |

-------

2 bln oh dear i forgot to add VAT. silly me

3 bln.. oh i forget a few things here and there

4 bln ... opps!

5 bln ....Well i never...

6 bln ....well they do say triple whatever you first come up with! I will get the sums right someday!

7 bln .... erm 9bln ???...

http

://www.independent.co.uk/news/uk/polit...bn-440465.html

Never mind still years to go...

-

Edited by brainclamp

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  • 295 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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