Friday, September 5, 2008

Fifth night destruction continues

House prices falling at fastest rate in 25 years

Home owners have been dealt a double-whammy of doom, as figures showed that house prices were falling at the fastest rate in at least 25 years and the Bank of England failed to cut interest rates

Posted by sold 2 rent 1 @ 10:45 AM (2119 views)
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39 thoughts on “Fifth night destruction continues

  • The REAL carnage doesn’t start until autumn 2009, where we will see western capitalism start to crumble.

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  • I don’t know about this fifth night stuff (is it a reference to Shakespeare?), but my concern is that it will lead to war.

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  • s2r1, so how much do you think world events are playing out as the Mayan cycles predicted?

    Doesn’t the fifth night destructive cycle end on November 18th followed by a renaissance/rebuilding phase? Surely a world econimic collapse in the next two months and not next year is in keeping with this?

    JG

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  • Hi S2R1,

    You haven’t stated why crumbling will happen in autumn 2009. Is this because of hedge funds, oil running out or an election?

    Does a future HPC link to capitalism’s decline?

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  • Alan,

    People will be pushed into a state of despair.
    They will start to grow their own food (maybe using gardenia’s techniques), explore alternative health options (hemp oil with THC etc), and explore personal free energy generating systems (electromagnetic, water powered cars etc).

    Big energy, big pharma, big food will all go into terminal decline.

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  • George Monsoon says:

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  • hoobloodyrah!

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  • larry pickleman says:

    It’s a bit wishful to think big energy and big pharma and big food will go into terminal decline by this time next year.

    I’d like to think big energy and big pharma particularly were on there way out, but they have so much power within governments that I suspect it won’t happen for a much longer time than you optimistically suggest.

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  • 3. s2r1

    you can’t seriously believe in that water powered car crap. I’ve seen those videos online and they are laughable. I mean there is no science behind it and they just don’t work and never will, you can’t make energy from nothing and everyone knows that. If you know a reputable link lets see it….

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  • Guys, don’t bother with the rational debate – s2r1 is notorious for this stuff. He gets his timetables from the mayan calendar. A couple of months back he was on here stating with total certainty that oil would be below $50 a barrel by the end of June, if I remember rightly.

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  • george monsoon says:

    S2R1 – I imagine you to look a bit like the guy that runs LongLeat, wearing brightly coloured knitted waistcoats and long white beard..

    Mate, your credibility is falling rapidly and unless the 6th Knight turns up with some hard evidence, I would stick to star gazing..

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  • Hmmm. Let’s remind ourselves of the full (?) list of reasons why s2r1 believes “western capitalism [will] start to crumble” in Autumn 2009… in his own words:

    Calleman/Lungold, Armstrong, Kondratieff, Fred Harrison, Robert Prechter, Oswald Spengler, 600 year gold graph, Elliott waves, 300 year debt graphs, 300 year stock graphs, 9/11, energy suppression, hemp suppression, bogus MM global waming, chem trails, drugs suppression, food/water poisoning, 2012 (or 2011), secret societies, religion, ancient civilisations, UFOs, Hollywod movies, monatomic gold, electromagnetic energy, water powered cars, consciousness, metaphysics, God etc etc etc………

    http://www.housepricecrash.co.uk/newsblog/2008/08/blog-uk-house-prices-could-easily-decline-pc-from-the-peak-16302.php?comment=added

    Some vaguely rational stuff, some odd stuff, some lunacy. Mainly, whichever video he last saw on youtube, or whatever crackpot website he last looked up.

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  • s2r1 may be a bit gloomy, but isn’t far off target.

    We are now predicting the main effect in April/May next year.
    There is a side issue regarding “all those migrant workers”, we do not think that they will behave like “economic migrants” unless there is anywhere for them to go next. It is possible that because they (or some at least) have been paying taxes here, they will be entitled to state benefits, which will far exceed any income that they may or may not get in thier originating countries. So basically, the recent population increase will stay, and sombody has to pay the taxes to pay for the benefits, and that’s anyone who still has a job.

    PS. All luxury items are now at risk, cars are just the tip of the iceberg, the holiday industry is the next to realy feel the pinch. And for retailers, we do not think that any form of sales will push the stock off the shelf in anything like the required amounts, because it will only increase the Credit Card Debt. And by Xmas, the credit card limits will be dropped to stop defaults on payments.

    We love you GBH, oh yeh, really we do, ha ha …

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  • we may have experienced a more severe drop so far, however look at the heights it has to come down from, i think it will need to be much more severe and faster, but then again we are well placed to weather this….LOL OMG i nearly peed myself laughing…

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  • @sold 2 rent 1

    “The REAL carnage doesn’t start until autumn 2009, where we will see western capitalism start to crumble.”

    I could have told you that we’re heading for a rough time without looking at the Mayan Calendar.

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  • S2R1..

    WhatI can’t understand about your assumption that money will end s2r1, is that if what you hold true actually turns into reality, don’t you think that the only safe place to be willl be in areas hardly populated as the breakdown in society could see the population decimated and millions (if not billions) will die?

    Do you live in the highlands s2r1 or in a town or city like the rest of us. Surely if you beleive your own rhetoric you have removed yourself to somewhere safe as when what you predict happens, you, your wife and your children will simply not be safe?

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  • s2r1 may or may not be a loon, far be it for me to judge. But he does have at least one valid point. The modern western capitalist system based on fiat currency and fractional reserve banking does have a finite life. It’s a sort of mad merry-go-round that works fine as long as it’s going round at sufficient speed, spewing out more debt and monetary growth. If the speed drops, or heaven forbid stops, we are all in the sh1t. Perhaps we have reached the limits of such a system. It IS conceivable that the western capitalist societies could collapse. Logically it must happen eventually. Maybe that is now. Who knows? The nut jobs will be correct at some point. Equally we will all be dead at some point. The important fact is: when?

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  • larry pickleman says:

    I’ve got my garlic hanging outside already!

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  • theboltonfury says:

    nooneo – I agree with you

    I have told this story before, so apologies. The Argentinian national football keeper for 4 years was convinced that the world was about to end and suffer an end to civilisation. As such he left his lavish football lifestyle, abandoning his club and country and retreated to a mountain cave to await the armageddon. Obviously it never happened, and eventually he came out of the cave to be publically ridiculed. I think he has since topped himself

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  • I have to agree with sold 2 rent 1 for the simple reason that Autumn 2009 is exactly 2 years from Autumn 2007. The significance of this is that the most common mortgage product has a two year period before flipping to SVR. That means Autumn 2009 will commence the vintage of mortgages coming up for renewal which did not enjoy one single month of house price appreciation. We keep hearing about prices having gone back to 2006 levels (now 2005) and so far this has been great for people trying to remortgage because as long as they had 90% LTV or lower to begin with and a perfect payment record for 2 years they have been able to refinance on tough but not murderous terms.

    This option will not be open to remortgagers in the Autumn of 2009 – I am not talking about the 4x, 100% LTV guys – they are being washed away already – I am talking about the honest masses who borrowed a reasonable LTV at a reasonable (and honest) salary multiple but were just unlucky enough to buy at the top – I am talking about everyone who bought a house in 2007 and 2008 and probably everyone who remortgaged in 2007 and 2008. These people will either (i) lose their homes (ii) go on to a punitive SVR which sucks cash from the economy and into the black hole of the banking system or (iii) who will have to empty their savings to get a mortgage on a lower LTV reflective of house price falls between now and next Autumn.

    Everyone remortgaging in 2009 will be adding to the deleveraging problem at an ever increasing rate and there it will last at least a year as banks did not stop lending until Autumn 2008. This is the US problem that unfolded from August 2007 and has not even started here properly – 2009 is when it starts – most people will hang on to their homes for a few months so Autumn is a fair estimate of when capitulation will start.

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  • None of the people pushing these predictions of armageddon, on here or anywhere else, seem to be doing anything to avoid it. I would have thought that intensive training in survival techniques, carpentry, farming etc would be much more useful than buying gold. I’m not convinced that any of them believe it themselves. At least the Argentinian keeper had the courage of his convictions.

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  • The world isn’t ending. For most Britons, the recession (or whatever you want to call it) will mean fewer luxuries in life: eating meat on alternate days; taking holidays in Britain or France instead of the Maldives; colder houses; fewer new clothes; etc.

    It isn’t some kind of armageddon. The cults – sorry, minor religions – must be creaming themselves at all this gloomy news and the new recruits it will bring. I’m eagerly awaiting the next copy of the Watchtower in my letterbox to see how they spin the economic news…..

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  • I agree drewster

    Just because the Prime Ministers a knob and he’s helped wreck the economy temporarily, it doesn’t mean we are going back to bartering, although the present downturn does make you want to do a deal when spending any sort of cash.

    The dollars only rallying because the yanks have a ridiculous interest rate and those that can are spending on their plastic, and oil has dropped from the peak.
    The euro’s going to fall sooner or later against the pound – half the eurozones heading for recession.
    The property market has said tara-toodle-oo-seyanara for at least 5 years but boy do we neeed cheaper homes (thanks Kurtsie and Phril).
    And if August had a been 3 days longer this would have been the wettest summer in the UK since 1732 or somefink.

    But on the other hand

    I can’t see them putting beer, wine and spirits up too much….For gawds sake there are limits man !
    I could always feed 4 people for a fiver (if pushed), I never needed Jamie “[email protected]” Oliver to do that neither.
    We havent been invaded since the French kicked our butts in 1066, even Hitler decided it wasn’t worth a punt.
    Our (national) football teams can’t possibly get any worse than the last 2 or 3 years.

    And we’ve nearly all waited friggin years for a House Price Crash so that we can get back to some sensible property prices and boy is it happening in style.

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  • sold 2 rent 1 says:

    Just keep joining the dots up and you will discover the truth

    Look how global warming peaked in 2007 and now we are entering into a stage of global cooling.
    It is sunspot cylces not CO2 that is the main cause of climate change.
    The sunspot cycle wasn’t due to peak until 2010 at the earliest, but the “chemtrails” in the sky have done a fantastic job in bringing this date forward

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  • S2R1 – Why can’t you stay on subject ?

    Are you sure you’re not a politician, can’t find anything to bolster your argument, then CHANGE THE PLAYING FIELD. Are you Alistar Campbell incognito?. You posted this article and then, by some miracle we get to point 19 and you introduce climate change into a discussion about falling house prices??? Obviously climate change is important but.

    IT HAS NOTHING TO DO WITH THIS PARTICULAR ARTICLE.

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  • Childish Sold2rent1, plain childish.

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  • the world might end on wednesday if they make a giant black hole that east the earth, but i do wonder if gordon browns head could be used to fill hole..lol

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  • east = eats ***

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  • Still-waiting says:

    sold2rent1: I am starting to suspect you are a troll and you don’t really believe all that c55p

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  • Citing a one year variation in the arctic ice sheet as a proof that global warming is not due to carbon dioxide release is about as smart as lashing out 120% mortgages of over-inflated valuations to people with no proof of income.

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  • I think that the inside of Gordon Brown’s head may well BE a black hole already.

    Getting childish myself now…

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  • sold 2 rent 1 says:

    nooneo,

    You said….
    “WhatI can’t understand about your assumption that money will end s2r1, is that if what you hold true actually turns into reality, don’t you think that the only safe place to be willl be in areas hardly populated as the breakdown in society could see the population decimated and millions (if not billions) will die? Do you live in the highlands s2r1 or in a town or city like the rest of us. Surely if you beleive your own rhetoric you have removed yourself to somewhere safe as when what you predict happens, you, your wife and your children will simply not be safe?”

    Moving to the country makes sense and we are considering this option.
    However Calleman’s model gives me hope that hi-technology co-creation and NOT head for hills “stone-age” mentality will be the way forward.

    Dropping out of society won’t solve the problems of the world. Working together will, but the road is not an easy one.

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  • I have it on good authority that the world is not about to end on wednesday, that gold will not be ‘going to the moon’ just yet, that oil will not be $50/barrel anytime soon, that money will continue to exist, that free energy is not about to be discovered, that there is no such thing as a water powered car, that HAARP is not an earthquake machine and that the New World Order Elite are not trying to kill us all off.

    If that is too boring for some sad individuals to handle then tough – just change your consciousness.

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  • I agree s2r1 @ 34.

    But I have a sneaking suspicion that, if the end of money comes about, it will, almost immediately, be replaced with another PAPER money system.

    Money isn’t the problem here, Debt is. Money is the direct response to a non-bartering economy. You either have money or bartering, there is NOTHING else.

    The communists tried to control it (money), guess what, they only made people slaves or they starved. Communism was invented to give SHARING a very, very bad name.

    So get rid of money and guess what, we’ll have to bring it back in the very next day.

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  • I agree s2r1 @ 34.

    But I have a sneaking suspicion that, if the end of money comes about, it will, almost immediately, be replaced with another PAPER money system.

    Money isn’t the problem here, Debt is. Money is the direct response to a non-bartering economy. You either have money or bartering, there is NOTHING else.

    The communists tried to control it (money), guess what, they only made people slaves or they starved. Communism was invented to give SHARING a very, very bad name.

    So get rid of money and guess what, we’ll have to bring it back in the very next day.

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  • Good point Nooneo

    ‘The inherent vice of capitalism is the uneven sharing of the blessings, while the inherent virtue of socialism is the equal sharing of the misery’

    Not going to see socialism taking hold, I don’t think

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  • Nooneo,

    You either have money or bartering. I see your point, but I think it’s a bit of a false dichotomy. ‘Money’ is just a medium of exchange and virtually every culture’s come up with it in some form or other. Whether it looks like gold coins, shells, feathers or cocoa beans, it’s just a way of storing and transporting the credit you get for bartering something – which is a fantastically convenient thing to do. As such, wherever there’s trade, you’ll get money – and humans have proved they’ve liked to trade since cavemen swapped flints for meat (or something like that, I’d imagine!)

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