Friday, October 7, 2011

Does it really matter?

Confidence in UK banking system rocked as agency downgrades 12 bank and building society credit ratings

''Confidence in the UK's banking system was hit today after a credit agency downgraded the debt ratings of a dozen British banks because of doubts over the strength of the Government's support. Just a day after Bank of England Governor Mervyn King said the world was facing its worst ever financial crisis, Moody's Investors Service revealed the downgrades included a two-notch downgrade for government-controlled Royal Bank of Scotland. Lloyds TSB Bank, a unit of part-nationalised Lloyds Banking Group, was the subject of a single notch cut.''

Posted by hpwatcher @ 11:48 AM (2540 views)
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23 thoughts on “Does it really matter?

  • mark wadsworth says:

    no, nothing matters any more, the bankers and Homeys are going to help themselves to every penny anyway, if going is good, they’ll take it by hiking house prices, if going is bad they’ll take it in taxpayer bail outs.

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  • “trusted names such as the Co-operative, Nationwide and Santander are also downgraded.”

    Santander?????? ROFL. The biggest bunch of t**s*rs and shysters around.

    @MW “no, nothing matters any more, the bankers and Homeys are going to help themselves to every penny anyway, if going is good, they’ll take it by hiking house prices, if going is bad they’ll take it in taxpayer bail outs.”

    We’ve had this discussion before. I own my home outright and couldn’t give a damn about house prices.

    It’s my home not an investment or cash machine so what do I and those who think the same way as myself help ourselves to??

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  • I own my home outright and couldn’t give a damn about house prices.

    So mr g, why are you in this site?

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  • Probably because Mr G actually cares about more than himself and actually wants the UK to be a better place.

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  • i remember the 90`s says:

    I own my own home but my children don`t so visiting these sites keep me in the loop ,although i do avoid the gold bugs!!!!!!

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  • general congreve says:

    @5 – BOO!!!

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  • Probably the biggest threat is exposure to Greece (and the rest of the PIIGS). Reuters put it at between £6bn and £7bn for LLoyds and Barclays a few days back for Greece alone.

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  • Fitch cut Italy & Spain ratings too, this afternoon.

    How is the “Arab Spring” doing on Wall St this week? – lots of arrests because they see the banksters draining taxpayer cash. Al Jazeera reporting is worth a watch!

    In the US, it must be time for another Republican/Democrat stand off….?

    Next lot of QE in the UK could come in December, I think.

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  • markj69 str05 says:

    Not being funny, but shouldn’t this have happened a few years back? It’s been a long time coming. And just remember how much QE has already been pumped into the system. Economic with the truth is an understatement, and i wonder how many more lumps there are in the rug we’re going to have to trip over.

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  • [email protected] “I own my home outright and couldn’t give a damn about house prices.

    So mr g, why are you in this site?”

    Has HPC become an exclusive club where you’re blackballed if you’re a home owner? Some of it’s regular contributors are so embittered that they see anyone who does own a home as the devil incarnate.

    I see that Wadsworth hasn’t had the courtesy to respond to my question or more likely he knows that I’m right and that I have always opposed the idea of a house as an investment and / or cash machine.

    If you check my posts over several years I have always been extremely critical of the obscene house prices that still are considered a good thing by many people and I’m actually on here for the very reasons that enuii refers to @4.

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  • I guess then, outright home owners would not care if there was a house price crash! Which, lets admit, there must be. World economics is being totally screwed over in the attempt to maintain an insane situation. We need a crash

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  • I’m with Mr G on this one.

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  • Hang on Mr G. I would normally totally agree with you here but i think its the way you expressed it. “I dont give a damn about house prices” states that you dont really care about the house price debate, Thereafter HPW has a fair point. If you dont give a damn either way then its a legitimate question to ask why (as in what are your other reasons) are you here.

    However you have responded and qualified what you mean. The problem with HPW is that he will probably fail to appreciate your follow up, certainly wont be concilitary in his response – if he bothers to respond – and also that he tries and , sadly for the board as a whole, sometimes suceeds in scaring off anyone with a slightly bullish argument.

    IMO this shouldn’t be a site just for celebrating bearish moves and having a go at anyone whose views differ. People have as might right to come on here and debate why there SHOULDNT, in terms of both the economy / society as a whole, be price falls as should. They also have the right to proffer their views that their WONT be price falls as will.

    Its for us to discuss, debate and argue with them, not to tell them they are in the wrong place, nor to go forth and multiply and certainly to never come back. That does no-one any favours.

    Now where is Slumdog?

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  • Mr G as for your point “It’s my home not an investment or cash machine so what do I and those who think the same way as myself help ourselves to??”

    The point i think MW is making is a generalisation. You and those intelligent enough to think the same way as yourself are certainly IMO an aberration, since most home owners want their properties to appreciate since they will use it NOT as a place to live but as their “money box” or their pension. Also there is – to be fair – a certain security in having paid off the mortgage. You are your own master, so i think some folks who are in that position dont really care that much as to increases or falls and rather than having a vested interest have no interest.

    Those folks – should they have a family – might want to re-think. The irony is that rather than wanting prices to fall so that their offspring can afford to buy a property with some sensible repayment schedule, they will free up their own savings or even take out a loan against their own place to “help”. Go figure!

    I am minded of the employers who restrict wages because of decreases in demand. In fact wages should be increased in the aggregate. But the aggregate obviously consists of the employers who restrict the wages.

    btw “nor to go forth and multiply and certainly to never come back” in the last post meant “nor to go forth and multiply and certainly NOT to never come back”. Apologies for that typo.

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  • Mg G, you said:-

    I own my home outright and couldn’t give a damn about house prices.

    If you check my posts over several years I have always been extremely critical of the obscene house prices that still are considered a good thing by many people and I’m actually on here for the very reasons that enuii refers to @4.

    I am just trying to work out your position.

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  • The problem with HPW is that he will probably fail to appreciate your follow up, certainly wont be concilitary in his response – if he bothers to respond – and also that he tries and , sadly for the board as a whole, sometimes suceeds in scaring off anyone with a slightly bullish argument.

    Tut, tut, personal attacks as usual…….

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  • hpw an unbalanced attack by you doesnt detract from the balance in my argument. All it proves is the lack of balance in your response. “As usual”

    If i am wrong and you would welcome views from Bulls then say so, if not then why not answer rather than hide behind some polarised pathetic platitude?

    I think sadly rather than that being a probing question that you answer, it will have to be answered rhetorically.

    Here’s an example of your crass stupidity, in case you have memory issues (amongst the plethora of your other issues) You cant have a go at anyone for personal attacks. Defarmation isnt unless its based on a lie:

    “5. Hpwatcher said…
    @btl rules

    You are on the wrong site mate. I think you should find a site where you can spout your bullish tripe to others, who will be more likely to agree with you.

    Wednesday, April 30, 2008 06:50PM”

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  • If i am wrong and you would welcome views from Bulls then say so, if not then why not answer rather than hide behind some polarised pathetic platitude?

    So now asking someone a question – ”So mr g, why are you in this site?” – is an attack? You have a very warped sense of what constitutes an attack.

    You are on the wrong site mate. I think you should find a site where you can spout your bullish tripe to others, who will be more likely to agree with you.

    You seem to be on the wrong planet……….Of course, you will choose to reply, because you simply can’t help yourself.

    Okay, have the last word, it’s obviously very important to you, I hope you will be very happy together.

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  • @ Techieman and HPW.

    On reflection, “I own my home outright and couldn’t give a damn about house prices” is wide open to misinterpretation and could be seen as bragging therefore I will clarify that statement and my point of view.

    I am appalled by the following aspects of the property market:

    1.The way house prices have gone up, taking home ownership beyond the reach of many ordinary hard working people.

    2. The stupidity of many people’s view of property, for example:

    a. As a short term investment and a means of making a quick buck, because “house prices always go up”

    b. “My house is my pension” This denotes a total lack of intelligence, enough said.

    c. “Mewing” Again enough said.

    d. The way many people see rising house prices as a good thing, since when did price increases of any kind work to the advantage of the ordinary man or woman?

    d. Parasites such as estate agents and developers, BTL’ers, property writers and broadcasters. These people rank no higher than bankers in my eyes.

    NB. I am NOT, repeat NOT a “Home Ownerist / Homey” of the sort derided and attacked by some HPCers notably Mark Wadsworth.

    In addition, I resent the notion that the baby boomer generation, en masse, have been responsible for the mess we now find ourselves in. Sure, many boomers have contributed to it as have many people currently in their late thirties, forties and early fifties.

    I most certainly have not been a contributor. Whilst I have to admit that my house must have appreciated significantly in value in the 26 years I have been here, I am really not interested in house prices for personal gain. It is my home and as such, I do not measure my “wealth” by it’s price let alone, boast about it.

    Some people would argue that I am fortunate to own the house outright but I have achieved that by carefully managing my finances, not at the expense of others.

    Hence, “I couldn’t give a damn about house prices” for personal gain. However, I do care passionately about the iniquity of current house prices and their effect on ordinary people and fully support the need for a HPC.

    I trust this clarifies my statement and point of view.

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  • hpw i just quoted YOU @ 17…. its one of a number of examples where you keep on trying to bully people whose views you dont agree with. You clearly have less brain cells than an Amobea! Sad really. Here is a clue its STARTS with “5. Hpwatcher said.”!!!!

    I obviously need to spell it out to you as you cant even recognise your own handiwork, let alone support it with sensible comment. Pathetic, no less than expected really.

    Its the last word because your response is, as usual non-sensical. Now if you want to explain why you have so little confidence in your argument that you have to try and hit anyone whose bullish or someone that disagrees with you then go ahead. No? Didnt think so.

    Mr G – I didnt think you were bragging at all. I think hpw originally had a point when he asked why you were here. You explained your position @ 10. Although there was no need for an expansion on that point all that you say @ 19 is fair enough.

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  • Thanks for your comment @19 Techieman.

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  • its one of a number of examples where you keep on trying to bully people whose views you dont agree with.

    You clearly have less brain cells than an Amobea!

    I can’t post anything without you coming back with some sarcastic reply. There are many, many examples on these forums over the past few years where I have had to endure personal insults from you. The insults and name calling in your last post are a perfect example of that. Simply put, if anyone on here is a bully – it’s you. The funny thing is that you simply don’t realise it.

    You see how I can post messages without resorting to insults and making personal remarks – wholly unlike you!

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  • Yes – hide behind that old tiresome line. You really do have issues. No sarcasm at all. YOU posted that people shouldn’t be on this site if they are bulls. Thats b0llocks, but again you are not man enough to admit you even said it let alone that you are wrong.

    The issue (for the nth time) is that everyone on here should be allowed to express an opinion without you trying to silence them. If you cant deal with that, as you have shown countless times, then unless you can explain why, im afraid its you that should f*ck off from here not them…. getit?? or has “f*ck off” got too many syllabus for your narrow minded brain to assimilate?

    FFS what is “you can spout your bullish tripe to others” if its not an insult and a personal remark? Again cant you recognise your own handiwork or are you trying to disassociate yourself with it.? Yes i do throw personal insults at you BECAUSE you deserve it… Tw4t.

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