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What's next?

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    What's next?

    Gordon Brown saves the day but I have an uneasy feeling. My instincts tell me that all he's done is messed around with nationalisation and done nothing to address the underlying problem: all that debt and inflated asset value is still there.

    Is another financial timebomb not far away, worse than this one? And if so, what will trigger it?

    #2
    Same timebomb, massive debt all over the place. The deckchairs are being shuffled but the Titanic is still going down.

    Comment


      #3
      Well the UK and US are both likely to have new governments at around the same time, which is hardly great as far as having experienced people in charge goes. You know what new bosses are like... they like to change things just to prove they are in charge.
      Originally posted by MaryPoppins
      I'd still not breastfeed a nazi
      Originally posted by vetran
      Urine is quite nourishing

      Comment


        #4
        It's sorted mate. Start snapping up them tasty BTL.

        Here's a couple who will sell you some at "bargain" prices.

        http://www.thisismoney.co.uk/mortgag...&in_page_id=56

        Comment


          #5
          Originally posted by stackpole View Post
          Gordon Brown saves the day but I have an uneasy feeling. My instincts tell me that all he's done is messed around with nationalisation and done nothing to address the underlying problem: all that debt and inflated asset value is still there.

          Is another financial timebomb not far away, worse than this one? And if so, what will trigger it?
          That's a good question, and wider than my answer here, but here's a start:

          It has done nothing about the underlying problems of the UK housing market. The very fact that the word that springs to mind when talking about "housing" is "market" is itself a sign of a problem. The problem that housing is seen as a market, and not as somewhere to live.

          So those of us who own houses are a bit like taxi-drivers who own a registered cab in a place where they are under-supplied: we have paid so much for ours, that the last thing we want is to see more and more of them created, though that is the solution.

          1. There are not enough houses, and we as a nation are not building enough.
          2. People expect a house to be a great investment. It shouldn't be: it should sell for about the same real price as it was bought for.
          3. People expect more than they can afford. ISTM that many young (and old) people can't stand the idea of saving for a few years, then buying somewhere smaller than they would really like, in a non-ideal location, that needs a bit of work.
          4. Nos 2 & 3 mean that people are prepared to spend staggeringly high proportions of their income on housing, which is merely competitive bidding that beggars everybody, twists the market, and increases the risk of a crash.

          I think Brown's actions have been bold and probably successful, but only in alleviating the consequences of some of the current results of what remains an extremely unhealthy housing market, which rests on bad practice and bad attitudes, firmly ingrained in our way of doing things.

          Comment


            #6
            Do keep up at the back, we covered this yesterday.

            Credit Defaults Swaps are about to blow up.
            Home grown mortgage defaults are going to rise exponentially.
            Credit card and other unsecured loans are going bad.

            We are only at the start.
            Hard Brexit now!
            #prayfornodeal

            Comment


              #7
              Originally posted by DimPrawn View Post
              It's sorted mate. Start snapping up them tasty BTL.

              Here's a couple who will sell you some at "bargain" prices.

              http://www.thisismoney.co.uk/mortgag...&in_page_id=56
              900 properties
              and they had no idea they should have sold last year

              Comment


                #8
                Originally posted by sasguru View Post
                Do keep up at the back, we covered this yesterday.

                Credit Defaults Swaps are about to blow up.
                Home grown mortgage defaults are going to rise exponentially.
                Credit card and other unsecured loans are going bad.

                We are only at the start.
                Indeed, in fact I remember doing the Credit-Cards-Are-Next myself a couple of weeks ago. Sorry, I forgot.

                Comment


                  #9
                  Originally posted by sasguru View Post
                  Do keep up at the back, we covered this yesterday.

                  Credit Defaults Swaps are about to blow up.
                  Home grown mortgage defaults are going to rise exponentially.
                  Credit card and other unsecured loans are going bad.

                  We are only at the start.
                  And so rental yields are going to rise and housing market will be saved by a rush into BTL?

                  Comment


                    #10
                    Isn't it time for a war to divert attention?
                    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                    Comment

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