Thursday, January 3, 2008

The nasty side to HPC

Social Implications of a Significant Economic Downturn

Be careful what you wish for in 2008.

Posted by sold 2 rent 1 @ 05:51 PM (1245 views)
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13 thoughts on “The nasty side to HPC

  • I wish the biggest crash recorded, and I will have it in 2008

    too much wealth has been redistributed in the wrong (parasite) hands by double digit housing inflation running for 10 years

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  • yorkshireman says:

    C76, Happy New Year to you.

    While I agree with your sentiments, we do need to consider what will happen if we see a collapse of the “system”. A hungry man is an angry man and a knee in the groin will be rather more persuasive than reasoned argument. I think this is the point the artice is trying to make. Hopefully, the parasites will have sore groins too. If they want more land, they can have a couple of acres (achers) – get it!!

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  • I would imagine most churches would be happy to run “soup kitchens” to help feed those who are hungry. I would hope the government would not prevent churches and other organisations from opening their premises to provide food and shelter because the buildings hadn’t met current regulations!

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  • on the brink says:

    Rather nasty scaremongering if you ask me, particularly the pictures

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  • @on the brink.

    This is unfortunately what will happen. If you read accounts about the great depression, you will read
    how people lived. How men travelled the country for work, so they could eat & feed families. Prostitution will be rife. Crime will be equally as bad. Families lived on the most basic of food. My grandmother was from this era, she told me about the extreme poverty, the rioting. And with a society with no sense of community today, it will be far worse this time.

    But people will perservere, and ultimately, good will prevail. As for the government, they are now well positioned to protect themselves and the elite from what will be our own (the majority’s) personal horror.

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  • Stevie Dee.. “And with a society with no sense of community today, it will be far worse this time.”

    You raise a good point here. I was wondering whether cities would be more at risk than rural villages.

    This spring might be a good time to learn how to “dig for victory”. I wonder if the government will encourage more people to grow their own. There’s been a lot of gardening programmes on in recent years.

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  • @su..

    yeah i’m buying tins of food.. i’m being serious.. and city dwellers will go into the country and rob crops.. rob livestock.. but food will become a prized commodity.. if you can’t buy a gold sovereign or a troy ounce.. next best thing is tinned food, powdered eggs, milk, etc, etc.. we saw when the price of copper soared, how schools and electricity cables were swiped, the same is applicable with food. Hunger makes people do the craziest things. I say this as with germany in the part of the 20th Century, we have now sold all our gold reserves.. apologies the grandmaster wizard of a chancellor Gordon Brown did!

    I could be completely wrong, but with rising unemployment, and the housing market unravelling, and the financial system oozing uncertainty & systemic failure, I believe the UK could end up holding the “sh*tty stick”.

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  • Stevie Dee – it won’t be that bad

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  • Stevie Dee – it won’t be that bad

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  • I think we’re on the verge of a HPC, only thing now is how severe it’s going to be. I also think we’re on the verge of some serious problems in society, only thing now is how severe they’re going to be.

    If the economy starts to slow considerably we’re going to be sitting on a right old powder-keg. We’ve got huge numbers of people in this country who expect everything on a plate – and for free. Throughout a great part of the 20th Century there was probably a majority of people in this country who spent their lives putting into the system (work and taxes, some national service etc) having watched their parents do the same and who anticipated help when they needed it. Now you have an enormous number of people who have put nothing whatsoever into the system but expect themselves and their families to be kept in a certain lifestyle for all their days (often on benefit whilst generating ‘supplementary’ income in anyway they see fit). They’re totally detached from the ‘put some in, get some out’ system and essentially just live off everyone else.

    In times of economic hardship the numbers needing help obviously increase (and not just the usual suspects, remember Japan when they hit bad times and there were middle-class businessmen sleeping in parks?). There are the tens of thousands who are a blink away from financial ruin, having run up huge amounts of debt. So, we can expect to see a significant number of people getting dragged into a downward spiral – in addition to the ‘on a plate’ types. As has been pointed out many times by various parties the UK has wasted the money built up during the ‘good times’. Public spending has left the cupboard bare just when we’re going to need it to be full.

    And what about all those who have been prudent? Hell, I STR’d a year ago and the money is in the bank. Is it safe? No. Am I confident about the future? Not by a long chalk. It wouldn’t surprise me if the Liebour government sacrifice the ‘savers’ in their attempts to keep the economy afloat. I moved from Finsbury Park (North London) to a little town in Wiltshire because I don’t want to be in Finsbury Park (with a 3 year old kid) as this particular scenario we are in gets played out.

    I’ll tell you something else that I’ve said on here before and I think the Northern Rock situation is a little indicator of this point. Any downturn we may encounter isn’t going to be like anything previous. In the same way that NR literally arrived out of the blue I think everything is going to be very fast moving this time. Just look at how quickly the housing market has turned, how quickly the mortgage products disappeared, how quickly the sales volumes have dropped etc etc. The housing statistics over the last quarter are shocking. None of the numbers are low, they’re all 20%, 30%, 40% etc. And that’s before the real impact of NR and things like less fixed rate mortgages get factored in.

    Maybe I’m over-reacting but to repeat my earlier comment “only thing now is how severe they’re going to be”.

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  • This is a bit far fetched. It’s posting links like these that reduce the overall credibility of what is generally an excellent site.

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  • Wiltshire – very well put. I completely agree with you. The market cannot be bucked and with UK debt at unprecedented levels we are in for a severe correction, down turn, recession, slump or however you like to describe it. You are right that it will happen very suddenly and there is nothing the government or the BoE can do about it. I would like to think that the country will learn a very hard lesson and the UK may end up being a better place for it.

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  • Andy, I hope it is a bit far fetched but what we are experiencing could be the birthing pains of a completely new era for this planet. We seem to be approaching the point where the world’s most powerful ever empire (the USA) begins to fall into decline. Not a terminal decline but a decline nonetheless coupled with the rise of China, India and the East as the powerhouses of the globe. The USA aren’t going to give up their position lightly. As far as I am concerned from this point on, ANYTHING could happen.

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