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Ft - Wolfgang Münchau

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This is in the FT (print edition) today and linked to from the www.ft.com front page.

http://d2cft.volantis.net/d2c/0.0?feed-art...90-000077b07658

It includes the following:

"Real house prices in the US, the UK and several other economies might end up falling by some 40-50 per cent, peak-to-trough, in the downward phase of this cycle. Let this happen and do not implement policies to prevent this fall – such policies might alleviate some pain in the short run for some people but will make the adjustment last a lot longer."

This should be enough to induce panic in the FT readership.

VMR.

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Third, allow some defaulting banks to go bust.

When the floodgates really open the tide of bank collapses will be unstoppable

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This should be enough to induce panic in the FT readership.

Wolfgang Münchau is one of the few journalists who has been on top of this whole crisis. What a pity there aren't more writers like him around.

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This is in the FT (print edition) today and linked to from the www.ft.com front page.

http://d2cft.volantis.net/d2c/0.0?feed-art...90-000077b07658

It includes the following:

"Real house prices in the US, the UK and several other economies might end up falling by some 40-50 per cent, peak-to-trough, in the downward phase of this cycle. Let this happen and do not implement policies to prevent this fall – such policies might alleviate some pain in the short run for some people but will make the adjustment last a lot longer."

This should be enough to induce panic in the FT readership.

VMR.

This fellow is close to my call of 50-60%. Big drops are getting a bit mainstream now--might have to revise my "forecast" upwards a bit. :lol:

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This fellow is close to my call of 50-60%. Big drops are getting a bit mainstream now--might have to revise my "forecast" upwards a bit. :lol:

That will be funny, if the mainstream press are telling us that prices are going to drop 70%, and you'll be saying that they only really need to drop 50% to bring them back into line with reality, so they shoudn't be so bearish.

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Wolfgang Münchau is one of the few journalists who has been on top of this whole crisis. What a pity there aren't more writers like him around.

'Wolfgang Munchau.' Beautiful British name!

In the last couple of lines he almost mentioned the 'D' word!

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I've been saying this now for more months than I can remember - the clever thing for Brown to have done is to have actually helped the crash happen, get it out of the way and given himself 18 - 24 months for the economy to recover and get over this.

Alas, he seems intent to 'hang himself' by defending the greed of what, after all, is only a minority of the UK population... a bit like Nu Labour not wanting to offend hoodies or their chav parents even though neither probably even votes let alone votes Labour.

(Anyone else remember that BBC doc from the late 80s/early 90s - think it might have been '40 Minutes' - looking at the explosion of Afro-Caribean Yardie violence in Flordia and other US Gulf States? I clearly remember a senior DEA guy warning us to learn the US lessons otherwise we would end up with a crimewave of stabbings and shootings 10 to 15 years later! Oh well, lesson no learnt then!)

I digress.

I think Brown will actually come round to the notion of 'forcing' the housing crash - he is very predictable (Actually, that is worrying in a leader) - but by the time he does it, probably around late Summer next year, it will be too late... for him anyhow. I think the only thing that can help Nu Labour now is if they kick Brown out and whoever replaces him, after reading this of course ;) , has the sense to get the crash over and done with.

Why should the whole economy be dragged down by the greed of about 10 million - the other 40 odd million of us should not have to suffer!?

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  • 395 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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