Monday, December 3, 2007

Vince Cable “… almost certainly on the point of a big crash”

Vince Cable "...almost certainly on the point of a big crash

From today's (Monday) wake up to money. 14 mins 15 secs in. Vince Cable dicussus his proposal for a strategy for repossessions to avoid the misery of the last crash. He says "... almost certainly on the point of a big crash..." They then get some CML cheerleader to come on. Brilliant stuff. Looks like the Lib Dems have realised that the "miracle economy" is not what it seems, and has been propped up by cheap money, massive mortages with the underlying been an overpriced asset.

Posted by doomwatch @ 11:01 AM (659 views)
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3 thoughts on “Vince Cable “… almost certainly on the point of a big crash”

  • Vince cable states that interest rates should follow house price inflation/ deflation.

    Didn’t Gordon Brown remove house prices inflation from the measure of overall inflation?

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  • I was growing to like Vince Cable – especially after his comment about Mr Bean.
    But now it seems he wants everyone who has paid a silly price for a house to be absolved from all responsibity for their actions if prices look like falling.
    But that is typical of modern society – so I suppose I shouldn’t be surprised.

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  • I have just listened to an interview on Radio 2 featuring Mr Cable on the impending crash and how to soften the blow for all those poor householders who have over committed themselves. The lunatics really will be running the asylum if VC’s proposals are ever implemented.

    What a mess – declare yourself bankrupt and subsequently become discharged in no time at all these days or use your “get out of debt free card” in the form of the ever popular IVA i.e. write off 75% of your debts and repay the balance without interest over 60 months. My Grandparents must be turning in their graves.

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