Friday, Sep 01, 2006

How vested interests try to influence the BoE

Money Week: Trying to spin doctor the economy doesn't work

Property pundits in the UK seem a little more sophisticated than in the US. In the States, everyone from house builders to estate agents are, frankly, panicking. Theres no pretence of everything being OK - theres talk of the worst slump in decades, markets in freefall - its bad out there and they know it...

Posted by Paulm @ 03:54 PM (468 views)
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8 Comments

1. indiablue19 said...

Yes, true, in the USA one calls a spade a spade -- not a leveraged, manipulative earth remover. What motivates the UK media to mask an impending crash? Wouldn't it be far more sensible to take notice of the bow wave before it hits? I thought the trick about fiddling while Rome burns was already done -- and the perpetrator declared insane.

Friday, September 1, 2006 05:04PM Report Comment
 

2. The Bald Man said...

More people should read this article. One not written by a VI. The economy has been built on a house price bubble. We should be looking at ways to averting the impending crisis not encouraging more investment in houses.

Friday, September 1, 2006 06:11PM Report Comment
 

3. uncle tom said...

" You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time "

- Abraham Lincoln

Friday, September 1, 2006 06:46PM Report Comment
 

4. inbreda said...

I think this site would be much better if there was a talk board about how to avoid /limit the impending crash. I know there is an ad for the book survive and prosper in the coming economic turmoil, but I've bought it and I think it's rubbish. Very little info on HOW to do what it suggests.

Anyone else agree?

Saturday, September 2, 2006 12:43PM Report Comment
 

5. Daopig said...

Can anybody say what is likely to happen in the wider economy once the housing market goes into reverse? Will it be good for equity markets, for instance?Won't investors may move portfolio money out of dull bricks and earth and into business and employees?

Saturday, September 2, 2006 02:12PM Report Comment
 

6. indiablue19 said...

Dear Inbreda said....

I absolutely understand your concern. I've been thinking on this era of the Earth, which we've been headed toward forever according to all prophecy of every world religion, for at least thirty years. Having given all due thought to this, I believe that preparation -- mental, financial, psychological, spiritual -- is tough, if not impossible. For my own part, I'm searching for a place with a deep-bored well and a patch to grow things. Solid fuel heat doesn't hurt either. Books are probably a fine thing to have if they burn clean or taste good.

I'm trying to invest my life's savings in a place to live before the Banks run amok. But my main preparation, and especially as I grow older and my children are going in all directions from here, is to pray. That's never a welcome thought for most Brits who turn churches into recreation centres and theatre venues, but I highly recommend it.

Saturday, September 2, 2006 02:42PM Report Comment
 

7. Clair said...

Hello Inbreda,

Planning ahead to avoid currently unknown future circumstances is impossible...ever met anyone with a 4 week old baby? Yes they knew about it all for 9 months, painted the nursery, packed the overnight bag, chose names, but, hell what a shock when the birth occurred! And having a baby is a far more predictable event than a world recession or the collapse of a major currency. However, my main plan is not to become unemployed. I might think about working for a debt advice agency - I hear their business is booming! In terms of deep recession and banking collapse, all I think any of us can do is to keep our eyes and ears open, don't panic, never do whatever everyone else is doing and be prepared to seek advice on a safe place for our money if disaster does hit the banking system. You're already miles ahead of the crowd anyway, by simply reading things like this site.

And I have no intention of putting my hard-earned savings into property at this stage, I love a bargain too much, and property certainly ain't one of those at the moment.

I think a more immediate worry for savers is inflation - what a bloody irony it would be for renter-savers to just make it to the point of having their deposit only to find the 30 grand that had been a nice sum a year before, will now only just pay for their council tax, heating and beans on toast.

Probably the reason the 'how' is vague in the book you mention is that the writer forgot their crystal ball whilst composing that chapter! I regularly forget mine when leaving the house.



Saturday, September 2, 2006 04:56PM Report Comment
 

8. bidin'matime said...

Clair, you might like to see my contribution on the economics forum - http://www.housepricecrash.co.uk/forum/index.php?showtopic=33413 - I'm trying to investigate the chances of inflation undermining the chances of HPC and would welcome comments.

Saturday, September 2, 2006 10:09PM Report Comment
 

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