Friday, September 25, 2009

A contributor to the upward blip?

A year on, the hard lessons are still unlearnt

The scaffolding is rising once more as houses are knocked together. “We are getting e-mails ending in again,” a Savills’ agent said. Goldman Sachs partners are itching to move to houses with swimming pools using this year’s bonus. Property prices in Kensington and Chelsea have gone up by 22 per cent since February.

Posted by becky @ 12:00 AM (1198 views)
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5 thoughts on “A contributor to the upward blip?

  • The article’s very long on anecdotal frothiness, very short on hard facts.

    The ‘hard facts’ that are provided simply do not make much sense either. Did anyone else double take at this sentence?

    In fact the survivors are sharper and more driven than ever, worried that regulators may get round to controlling them in the future, while revelling in the lack of competition (the crunch removed several big banks).

    and what of this:

    Property prices in Kensington and Chelsea have gone up by 22 per cent since February.

    No they haven’t. They are down an eye-watering 17% on the year, and bounced a little (but still on a very downward trend) along with the average, that’s all.

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  • This comment, below the article, nails it:

    So the City bankers’ snouts are back in the trough again, while the rest of the UK disintegrates into a wasteland of closed companies and unemployment. While the Government may perceive the City as the goose that laid the golden egg, the rest of the UK doesnt see it that way. I think that we may just have our priorities out of order.

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  • Consider also, this from Tom E:

    The banks were not allowed to go bust, the same group of people are in charge and there is no appetite to investigate what went on because we have so much money tied up in bank shares.

    The bankers held the gun of debt based money to government’s head and government gave them a get out of jail free card. Now they are up to their old tricks and next time even the state wont be able to bail them out.

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  • @icarus from an article yesterday:
    “Sit down there, Toad,” said the Badger kindly, pointing to a chair. “My friends,” he went on, “I am pleased to inform you that Toad has at last seen the error of his ways. He is truly sorry for his misguided conduct”….

    “There’s only one more thing to be done,” continued the gratified Badger. “Toad, I want you solemnly to repeat, before our friends here, what you fully admitted to me in the smoking-room just now. First, you are sorry for what you have done, and you see the folly of it all.”

    There was a long, long pause. Toad looked desperately this way and that, while the other animals waited in grave silence. At last he spoke.

    “No!” he said, a little sullenly but stoutly; “I am not sorry. And it wasn’t folly at all. It was simply glorious!”

    “What?” cried the Badger, greatly scandalized. “You backsliding animal, didn’t you tell me just now, in there – ”

    “O, yes, yes, in there,” said Toad impatiently, “I’d have said anything in there. You’re so eloquent, dear Badger, and so moving, and so convincing, and put all your points so frightfully well – you can do what you like with me in there, and you know it. But I’ve been searching my mind since, and going over things in it, and I find that I’m not a bit sorry or repentent really, so it’s no earthly good saying I am, now, is it.”

    “Then you don’t promise,” said the Badger….

    “Certainly not!” replied Toad emphatically.

    Wind in the Willows Chapter 6

    …..I think this summed it up brilliantly yesterday and sadly will sum it up tomorrow and the next day ad infinitum. The b*stards won’t learn unless they are forced to.

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  • watching with amusement says:

    The fact that Toad was promising to badger is just too funny for words…

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