Sunday, November 16, 2008

Halp Halp O Halp!!!!

Housebuilders face implosion

"The living dead" - they can be kept alive but really they are just ghost companies. That is the shocking description of the state of many of Britain’s housebuilders by Alastair Stewart, analyst at Dresdner Kleinwort. He sums up the housing market neatly in one word – carnage. Job losses are soaring, firms are going bust every day, house and land values are plunging and new-home construction has collapsed to levels not seen since the 1920s. Taylor Wimpey's share price has plummeted 98% while rival Barrats has dropped 95%. Builders have closed down sales offices and laid off workers. Government ministers are starting to panic.The Homebuilders Federation is calling for government action to halt the housing crisis.

Posted by little professor @ 02:03 PM (1444 views)
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9 thoughts on “Halp Halp O Halp!!!!

  • hang on, this is easily solved. taxpayers should directly give these companies nine hundred and five trillion pounds. i could be a political aide any day of the week, me.

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  • Obviously not a cat lover.

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  • planning4acrash says:

    I hope no animals were traumatized during that photo shoot!

    But seriously, as mentioned in my post about Deflation, we are seeing the fall of organisations that have lived parasitically from the general public via preferential access to debt and debt instruments. Resources have been overly allocated to them to the expense of the common man. We should have seen more, smaller, competing firms, as in the old days. The Marxist style monopolies we’ve seen in recent years have provided the soulless suburbs of my dread.

    For freedom, deflation must occur to the extent that the savings of the common man have clout to provide capital to the economy to be productive without need for the leveraging that has pushed out good savings. As Max Keiser has been saying in his podcast, this is a war between savers and speculators. Lets hope savers win.

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  • Nothing like good ‘ol market forces to weed out the reckless.

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  • The gospel according to gordi 1984 ‘double speak’ is not good enough for 2008, and has to be re-written as quadraspeak because what is said is true untrue maybe not true! i.e. Whatever gordi says on this day is not necessarily what is said during the next four hours and can be revised always.

    So we have double speak where truthy honesty and integrity are the giggles for the public amplified by the deresion of the working clases.

    I am proud that even a fool could not understand what I have written let alone me!

    Tommorow is another yesterday.

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  • The gospel according to gordi 1984 ‘double speak’ is not good enough for 2008, and has to be re-written as quadraspeak because what is said is true untrue maybe not true! i.e. Whatever gordi says on this day is not necessarily what is said during the next four hours and can be revised always.

    So we have double speak where truthy honesty and integrity are the giggles for the public amplified by the deresion of the working clases.

    I am proud that even a fool could not understand what I have written let alone me!

    Tommorow is another yesterday.

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  • “Nothing like good ‘ol market forces to weed out the reckless.”

    Absolutely paul. Fred Harriosn posted a scathing critique of our builders earlier this year. Well worth a read if you haven’t seen it:

    http://www.renegadeeconomist.com/default.asp?Display=11

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  • “Nothing like good ‘ol market forces to weed out the reckless.”

    Unfortunately with all the bailouts going on at the moment, market forces are being (temporarily) skewed. Shame.

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  • badly managed business built on debt should not be allowed to survive.

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