Did I Really Hear Right Earlier On Five Live..

[The Masked Tulip]

Link to today's Drive programme on BBC Radio 5 Live

Will Hutton, The Work Foundation, at 1:57.07 - "House prices could fall as much as 50%. They could halve by 2010. 5 million people in negative equity. Repossessions at half a million. More banks and building societies going bust".

Will Hutton is seeking a government bail-out of the banksters.

I got the impression that Hutton was calling for a Govt bail-out of property or did I mishear that?

[Not Long Now]

I seem to remember reading that Hutton has a vested interest in property- he has a portfolio or somthing- so he's likely to overstate the case to get the government to save his business.

His wife owns a property company.

I'll never understand why this bloke is held up as some form of authority on Economics. He clearly has no idea what he is talking about, and his written articles and interviews are so littered with contradictions it is quite unbelievable.

But there we go.....who ever said that talent was a prerequisite of success.

Edited July 29, 2008 by Notlongnow

[Guest KingCharles1st]

I nearly crashed the car! Prime "Drive Time" slot as well, I would think it would be an idea to start buying shares in Orange crates and strong rope at the moment..

Edited July 29, 2008 by KingCharles1st

[Sheer Heart Attack]

I nearly crashed the car! Prime "Drive Time" slot as well, I would think it would be an idea to start buying shares in Orange crates and strong rope at the moment..

Do you remember what time you heard it roughly and I'll go and investigate?

[Guest KingCharles1st]

Do you remember what time you heard it roughly and I'll go and investigate?

sometime between 6 and 6.20 I'm pretty sure...

[Bare Behind]

Yep. I heard it too.

[Sheer Heart Attack]

Link to today's Drive programme on BBC Radio 5 Live

Will Hutton, The Work Foundation, at 1:57.07 - "House prices could fall as much as 50%. They could halve by 2010. 5 million people in negative equity. Repossessions at half a million. More banks and building societies going bust".

Will Hutton is seeking a government bail-out of the banksters.

Go forward to around 1:59.05. Discussion between Robert Peston and Adrian Coles, DG of Building Society Association. Coles thinks Hutton's prediction is ridiculous.

Edited July 29, 2008 by Pacific State

[Liquid Goldfish]

Link to today's Drive programme on BBC Radio 5 Live

Will Hutton, The Work Foundation, at 1:57.07 - "House prices could fall as much as 50%. They could halve by 2010. 5 million people in negative equity. More banks and building societies going bust"

He's been on other news programmes as well today making similar predictions if the government doesn't step in with a guarantee

[VacantPossession]

Removed

Edited July 29, 2008 by VacantPossession

[wonderpup]

I seem to remember reading that Hutton has a vested interest in property- he has a portfolio or somthing- so he's likely to overstate the case to get the government to save his business.

[Mancghirl]

Hutton's wife is heavily into property.

[eric pebble]

I seem to remember reading that Hutton has a vested interest in property- he has a portfolio or somthing- so he's likely to overstate the case to get the government to save his business.

Yup -- His wife has a BTL empire.................

"Hutton is married. According to the Daily Telegraph article cited above, Mrs. Hutton uses her maiden name Atkinson for her business called First Premise."

http://en.wikipedia.org/wiki/Will_Hutton

"Welcome to First Premise is a specialist property company, dedicated to the regeneration of inner-city sites and buildings............."

http://www.firstpremise.co.uk/Private/Pages/fpmovie.swf

Edited July 29, 2008 by eric pebble

[Selling up]

I got the impression that Hutton was calling for a Govt bail-out of property or did I mishear that?

Wouldn't be surprising. He wrote an opinion piece in the Guardian in the last couple of days asking for a government bailout (there's a thread on it here somewhere).

[Optobear]

Link to today's Drive programme on BBC Radio 5 Live

Will Hutton, The Work Foundation, at 1:57.07 - "House prices could fall as much as 50%. They could halve by 2010. 5 million people in negative equity. Repossessions at half a million. More banks and building societies going bust".

Will Hutton is seeking a government bail-out of the banksters.

Go forward to around 1:59.05. Discussion between Robert Peston and Adrian Coles, DG of Building Society Association. Coles thinks Hutton's prediction is ridiculous.

Will Hutton is often very astute. It might be that we need a bail out to keep the economy going. Perhaps even to limit falls to 50%.

Many on here seem afraid that the government will do something that will restore the mortgage market, and restart the galloping HPI. Personally I can't see it, things have changed. I don't think that making money re-available will get things going again, the magic has been lost. Investors will shun the UK unless UK house prices return to normal multiples.

[Sheer Heart Attack]

Good find, eric.

Her website is here. Looks like a city-centre slavebox hawking scheme.

At least they bring old buildings back to use though rather than putting up those hideous new hellblocks. I don't know how much of a difference that'll make when she's trying to BTL her place in heaven. Shame on you, Will Hutton.

[Mancghirl]

Let 'em burn, I say.

[dude wheres my house]

I think Will Hutton might be right, though. If there are three more years of mortgages at this level then it's possible that there may be dire knock on economic consequences for the country which go way beyond a huge HPC. Which would mean posters on here losing their jobs and homes.

I'd like a HPC as big as possible without doing terrible damage to too many peoples' lives

I think HPI has already been so big that it already has wrecked peoples lives.

[Paddles]

Hutton was on Ch4 news tonight with his St Vitus Dance facial tick.

I think he said something like "blah blah blah, 50% falls in prices if the government doesn't intervene, blah blah blah, is that what you want, cos that's what you'll get, blah blah blah".

I reckon Darling/Brown/whoever's next is faced with the choice of a rapid crash or an increasingly desperate attempt to slow/reverse the falls by intervention. Governments have a great track record at intervening in markets, eh?

As Ronald Reagan said, "The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'"

[Captain Coma]

Yes, I heard sh1t-for-brains Hutton on 5 Live bleating that the gov should waste taxpayers' money on bailing out the property market.

And this is the same sh1t-for-brains Hutton whose wife runs a BTL empire (he's another of those charming greedy capitalist holier-than-thou millionaire lefties).

So the situation is this: sh1t-for-brains Hutton is introduced as some egghead economics genius, chairman of this-and-that we-know-best Incorporated, but in reality he is asking for us to bail out his missus' strangulating BTL business (it WILL be losing money as we speak).

But worst of all, the BBC says not a word about sh1t-for-brains Hutton's vested interest in this matter.

I was so angry, I think that today was the day my last vestige of respect and tolerance for the BBC, which has been dying for years, finally gave up the ghost.

It is an absolute disgrace. Shame on the lot of these rotten lefty bast*rds.

Edit: sperlinge

Edited July 29, 2008 by Captain Coma

[Guest KingCharles1st]

But on RADIO 5!!

Thing is- let enough of these loose cannons get onto prime air time, and suddenly the Government are the good guys trying to clear up after all the drum bangers- a lot easier to shovel shit now, than if you can remember back only a few months ago when everything was apparently rosy at U.K.PLC.

[0q0]

But there we go.....who ever said that talent was a prerequisite of success.

Sadly oh so true, it's all connections in this world.

Hutton was on Ch4 news tonight with his St Vitus Dance facial tick.

I think he said something like "blah blah blah, 50% falls in prices if the government doesn't intervene, blah blah blah, is that what you want, cos that's what you'll get, blah blah blah".

I'd like to say shove off, Hutton, you're a freakshow. And coming from a freakshow like me, that's saying something.

As Ronald Reagan said, "The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'"

[Liquid Goldfish]

I think Will Hutton might be right, though. If there are three more years of mortgages at this level then it's possible that there may be dire knock on economic consequences for the country which go way beyond a huge HPC. Which would mean posters on here losing their jobs and homes.

I'd like a HPC as big as possible without doing terrible damage to too many peoples' lives

[Fudge]

The problem is there are going to be be people like Hutton, Cosby, George Cox, spokespeople for organizations like the CBI and CML etc that will paint such a frightening picture of what will happen if we don't do something that people

will reluctantly accept a taxpayer bailout of the housing market.

[Guest Steve Cook]

Link to today's Drive programme on BBC Radio 5 Live

Will Hutton, The Work Foundation, at 1:57.07 - "House prices could fall as much as 50%. They could halve by 2010. 5 million people in negative equity. Repossessions at half a million. More banks and building societies going bust".

Will Hutton is seeking a government bail-out of the banksters.

Go forward to around 1:59.05. Discussion between Robert Peston and Adrian Coles, DG of Building Society Association. Coles thinks Hutton's prediction is ridiculous.

Hutton is ridiculous.

In fact, I think he looks unhinged..

There's something of the "David Ike" about him.

Edited July 29, 2008 by Steve Cook

[Liquid Goldfish]

I think HPI has already been so big that it already has wrecked peoples lives.

agree - it's quite a problem