Sunday, September 7, 2008

Insipid article, but some top notch comments below it

'Another 18 months of crunch'

Hornby says that two-thirds of wholesale funding traditionally received by UK banks comes from overseas, with the bulk of that coming from the US. And he fears that these US money-market investors won't resume the channelling of money to UK banks for mortgage-lending until US house prices start to recover.

Posted by gardeniadotnet @ 01:04 PM (786 views)
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3 thoughts on “Insipid article, but some top notch comments below it

  • paranoia blue says:

    Thanks for the post. As is usually the case, with Preston’s ramblings, the comments contain the enlightened and accurate worldview!

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  • This hits the spot:

    “the people responsible for these crimes must be put on trial and theire ill gotten seized by the is what natural justice demands if not, we will never erase this endemic curruption which has become a dangerous cancer at the heart of our society..”

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  • I must admit that the comments on the article are far more interesting and telling than the article itself. Robert Peston , like Evan Davies, is a complete knob.

    Here’s a prediction; The property market is now completely stuffed. In years time it might just start moving again (after all there are at least 30 million cretins in the UK and thats a conservative estimate – they neither read the news or have an opinion – and that half of the population will just follow the crowd like the sheeple they are). If not 5 years then by 10 years time this whole Boom/Bubble/Bust cycle will almost certainly off and running again (unless the Japanese stagflation comes to huant us).

    In my opinion, by the time that comes to pass, unless radical overhaul of the property market ensues (and let’s not forget Britain just doesn’t do “radical overhaul” of anything) the sheeple will be desperate for a bit of hope/glamour/incentive that the property market offers.

    Britain’s like a uneducated working class man who traditionally had 2 ways out of the mire, boxing and football, transpose that to the housing/property market and you begin to understand how easily Joe Public gets fooled.

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