Saturday, June 19, 2010

Some honesty about the crash

French economy "permanently" damaged

I wonder when we will see this kind of article in the UK press? (French newspaper in English)

Posted by chrisch @ 10:18 PM (1618 views)
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7 thoughts on “Some honesty about the crash

  • Good article and good comment. The mainstream media are crap: silly or corrupt. But if you look beyond it you will find interesting blogs such as: “Financial crisis? It’s a pyramid, stupid.” – http://gregpytel.blogspot.com/ If you had followed it Le Figaro article would have been a very old news to you.

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  • The old HPC cheerleader on the case in the comments… but is it really him? Or an impostor? He could do with an editor… 😉

    Jonathan Davis wrote:

    …With the massive budgetr cuts now happening and to increase there will be c 500k extra unemployed and BTLers will find they have fewer tenants so rents will fall and, if you think through it, BTLs will be repossessed like billy-o. The same with ‘owner’occupiers due to losses of earnings. Supply is already going through the roof and will continue to rise (RICS since December) and demand has been flat. It will soon fall persistently.

    Prices will fall dramatically just like 2007 to 2009. Unlike then there will be no election due for politicians to try and prop prices up. In any case they have nothing left in their armoury. They can’t reduce rates. They can’t create employment (the opposite will happen). Our currency has already fallen and this will not happen a second time as EU is in even worse shape than us.

    reCaptcha: The Bermuda [lol!]

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  • Grumpy Middle-aged Git says:

    Very similar/slightly modified Jonathan Davis comment on the post 2 below. I await this predicted fall with interest. Roll on Tuesday’s budget.

    It’s all about interest rates
    Mortgage Introducer: House price expectations are not realistic

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  • I just hope he is right!

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  • Jonathan Davis also wrote:

    “I believe Mr Pytel has nailed it. His blogs are incisive and very well researched and informed.”

    so visit: “Financial crisis? It’s a pyramid, stupid.” at http://gregpytel.blogspot.com/

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  • Currently we are looking for a new place to rent on Dorset/Hampshire border, our present home having been sold – in the space of two days for the price it was bought at in 2007.

    We are finding a very active market, buying and renting, the very few suitable houses to rent are being snapped up before we can get to see them. All are highly priced. Lots for sale, 240 in a small place like Barton on Sea, but, for now, lots of sold notices also.

    Presumably we have to wait for the panic stage of the Bubble Graph before both rental and buying prices tank.

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  • Scaremongering by the IMF. This is the same IMF that was caught defrauding statistics (yes, making up the numbers) to engineer pseudo crises in developing countries to force through its neoliberal, US multinational-beneffiting agenda. See the letter of resignation from a former IMF chief economist: http://www.naomiklein.org/files/resources/pdfs/budhoo.pdf .
    Why should anyone take them seriously?
    Nick

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