Wednesday, Nov 08, 2006

Bullet-proof confidence - misplaced?!?!

BBC: Shoppers 'shrug off rate worries'

UK consumer confidence rose in October, despite indications that another interest rate rise may be on the cards, according to a Nationwide survey.
Its Expectation Index, expressing consumer sentiment about the economy and jobs in six month's time, saw its largest ever increase during the month.

Posted by tyrellcorporation @ 11:46 AM (463 views)
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1. Sam said...

the same number of people who have problems getting on the property market, also see the economic situation as "bad".

Wednesday, November 8, 2006 12:14PM Report Comment

2. Surfgatinho said...

The UK consumer is a muppet and deserves what is coming to it!
I thought there were a particularly high number of bearish articles around at the moment - obviously these never filter down to the masses. IRs up, inflation up, unemployment up, reposessions up, trade deficit up and debt mountain up! What a bunch of absolute monkies they must of found to complete this survey.
With this level of economic savy out there it's no wonder house prices are still going up!

Wednesday, November 8, 2006 01:33PM Report Comment

3. japanese uncle said...

One of the major segments of players in the current bubble market is those video gamer generations who tend to feel instinctively that once the game is over, they can restart the game from scratch-zero. Unfortunately the next game will have to start from minus points in the form of huge almost unmanageable debt. For some of them 'restarting their lives via visiting the next world' may have to be the only option.

Wednesday, November 8, 2006 01:57PM Report Comment

4. Steve1 said...

Keep spending.

It will all end up alright on the night!

Wednesday, November 8, 2006 02:06PM Report Comment

5. Superruss said...

Bear Wins. Flawless Victory.

Wednesday, November 8, 2006 02:37PM Report Comment

6. sovietuk said...

japanese uncle

last time round (mid nineties) the global competition wasn't really that developed. This time it is. Third world UK on its way.

Wednesday, November 8, 2006 03:44PM Report Comment

7. waitingfor hpc said...

had a look in the Sun today - nothing but tripe - no real news so what else can we expect. But Britany Spears is getting divorced!

Wednesday, November 8, 2006 04:46PM Report Comment

8. autopilotengage said...

Ostriches, if you ignore the bubble for long enough it will not go away, not talking about it does not make it go away. Expectations can only control a market in the short term. I'll almost be upset in a funny way when rates rise; the bigger the bubble the louder the bang, and i've been waiting for a bang so long i can't help but expect a big one. I'm almost hoping it will get ignored even longer so it can grow even bigger! Wicked thoughts. If i read the word "underpinned" one more time i think i'll scream.

Wednesday, November 8, 2006 08:26PM Report Comment

9. Nohpc said...

The consumers may be muppets but you lot have to admitt that they have out savvied the house price crashers over the last 5 years. You lot predicted a fall.. they didn't.. they bought and they were right. I think a fall is looking less and less likely now rather than a prolonged period of no growth. A prolonged period of no growth would represent a decent correction over about 3 years.

Wednesday, November 8, 2006 09:22PM Report Comment

10. sirgoogle said...

As I have said several times before it will take more than one IR rise to trigger the HPC. We need IR rises of .5% or 1% at a time - and also several of them at once too. What has to occur are that monthly payments (the only thing the "muppets" or "Sheeple" understand) increase rapidly - so rapidly that the banks cannot come out with some other mechanism to keep the public's head just above water, coupled with this there needs to be a rise in Unemployment.

Don't see the HPC yet. Sorry. Some way to go yet.

Wednesday, November 8, 2006 09:37PM Report Comment

11. denzil said...

waitingfor hpc said:>
>>But Britany Spears is getting divorced!

Now that is news! What about Mills and Mccartney? Now that really has me glued to the TV, so glued in fact I nearly forgot to go to the loo and near pished myself.

Seriously though the UK punter is rapidly loosing the ability to think for itself. Look at all those tripe gossip magazines full of C-list celebrities and their failed lip implants etc etc. Superficial celebrity tittle tattle.

I remember reading Orwell's 1984 when at school and being convinced that it was impossible for that type of society to exist in the UK as the UK public were too wise to be hoodwinked in that direction. I will happily admit that we are nowhere near to 1984 but the British public are becoming so dumbed down in their ability to think for themselves and learn.
My wife says I should be on that grumpy old men program on TV but then she will admit that I'm not really uptight and miserable but I will not take everything at face value. If I believe something is bullshit I will say so.
House prices are currently bullshit and anybody that thinks that 40 years mortgages and 5 times joint income is indicative of a healthy property market (or even a healthy and happy society) seriously need to wipe the crap from their eyes.

Rant over, cheers.

Wednesday, November 8, 2006 09:48PM Report Comment

12. sovietuk said...

And all this after NL's mantra of Education, Education, Education. Educated to do what, so that they (the Muppets) can screw up their finances. Still this education can always be put to use in insecure employement in the rapidly collapsing UK corporate infrastructure or the communist party (public sector)

Wednesday, November 8, 2006 10:02PM Report Comment

13. Enuii said...

A friend on mine is a court officer who deals with repo's and bankrupt's, guess what he's never been as busy. Quote 'a couple of years ago only 1 in 10 repossesions would actually get through to completion at the moment its 5 in 10 and were booked up until the end of November'. He also added that he's never had to deal with as many bankrupcies and there is currently a backlog of 10 weeks for serving them. Is this the Sharp end of the Wedge, watch and wait!

Wednesday, November 8, 2006 10:58PM Report Comment

14. Nohpc said...

There was a survey in glasgow which showed that glasgow girls had the worst average debt in the whole of britain. When asked how they thought they would get out of this debt the number one answer was......... get married. I am not kidding this was a totally serious article. Peronsally I think women are bigger muppets with money than men (not trying to be sexist obviously some of the women on this board are very good with money).

Thursday, November 9, 2006 02:31AM Report Comment

15. talking rot said...


Having read your Blog comments, I thought you were a script writer for G-O-M?

Thursday, November 9, 2006 08:46AM Report Comment

16. george monsoon said...

Denzil - well said!

Thursday, November 9, 2006 09:01AM Report Comment

17. denzil said...

On a similar subject somebody sent me an email the other day that was quite amusing and thought provoking.

> Being British is about driving in a German car to an Irish pub for a
> Belgian beer, then travelling home, grabbing an Indian curry or a
> Turkish kebab on the way, to sit on Swedish furniture and watch
> American shows on a Japanese TV.
> And the most British thing of all? Suspicion of anything foreign. Oh
> and...... Only in Britain... can a pizza get to your house faster than
> an ambulance.
> Only in Britain... do supermarkets make sick people walk all the way
> to the back of the shop to get their prescriptions while healthy
> people can buy cigarettes at the front.
> Only in Britain... do people order double cheeseburgers, large fries
> and a DIET coke.
> Only in Britain... do banks leave both doors open and chain the pens
> to the counters.
> Only in Britain... do we leave cars worth thousands of pounds on the
> drive and lock our junk and cheap lawn mower in the garage.
> Only in Britain... do we use answering machines to screen calls and
> then have call waiting so we won't miss a call from someone we didn't
> want to talk to in the first place.
> Only in Britain... are there disabled parking places in front of a
> skating rink.
> 3 Brits die each year testing if a 9v battery works on their tongue.
> 142 Brits were injured in 1999 by not removing all pins from new
> shirts=

Thursday, November 9, 2006 09:10AM Report Comment

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