The only solution to our economic woes is time

[BrilloPad]

Please, no more help for 'zombie' mortgage holders - Telegraph

"The only reliable solution to our problems is time, and lots of it."

yep - the economy will flatline for years.

[escapeUK]

Please, no more help for 'zombie' mortgage holders - Telegraph

"The only reliable solution to our problems is time, and lots of it."

yep - the economy will flatline for years.

It looks like we wont be allowed to buy half price houses for cash.

[wim121]

According to William Taft, the 27th US President, there is no individual right, other than liberty, more important than property.

That is misleading as back after settlers colonised the US, the idea behind property and land was that a land owner had the right to vote. They worked off/paid back there land price they were allocated and then had the land to themselves. That is what made the US more successful than countries in South America under the control of Spanish monarchy which refused people the rights to land.

The same is not true in modern society, everyone has the right to vote, heck they even want to give convicts the vote.

It looks like we wont be allowed to buy half price houses for cash.

I dont see how they can dictate what people should sell or buy for. However at the moment and in to the future, there is a negative equity point that people wont be able to go under.

"The only reliable solution to our problems is time, and lots of it."

yep - the economy will flatline for years.

That was one of my biggest fears when the problem first started. That we would enter a japanese L shaped recession. Even with innovation, they remained in one for nearly two decades.

I can see currencies being abolished (euro perhaps?) or debts written off (third world and countries like greece that cannot recover) or traded against property in the future (germany perhaps bailing out greece for a redrawing of their border or island ownership and in the US should they fail to keep up payments to china with their owned national debt of the US being forced to give them aircraft carriers for payment) or indeed a complete deflation of currency and perhaps a world one imposed (which is the socialists western wet dream).

[BrilloPad]

That was one of my biggest fears when the problem first started. That we would enter a japanese L shaped recession. Even with innovation, they remained in one for nearly two decades.

I can see currencies being abolished (euro perhaps?) or debts written off (third world and countries like greece that cannot recover) or traded against property in the future (germany perhaps bailing out greece for a redrawing of their border or island ownership and in the US should they fail to keep up payments to china with their owned national debt of the US being forced to give them aircraft carriers for payment) or indeed a complete deflation of currency and perhaps a world one imposed (which is the socialists western wet dream).

Of course the issue with Japan was the unrealized bank bad debts. Looks like Eurozone is going the same way. But the UK banks being slow is lend is possibly a bad sign (are they just not lending as there are no projects worth lending to?).

Personally I can't see ccys being combined but they could well be divided (like the euro). There is no point is having ccy combination without soverign state combination. I read recently that California is thinking of leaving the USA.

But the China/US question is very interesting - the US are still living beyond their means. Is it possible the the U will just tell them to get stuffed?