pslewis

I see that the Banks and Building Societies have been called to Number 10 later this week in an attempt to head-off a crisis, or, at least, to see how bad it may get.

House prices have been falling for about 4 months in most places, this pace of decrease has speeded up quite substantially in the last month.

Mortgages have dried up, except for the absolutely safe bets with a decent deposit.

Fuel is up - petrol and gas.

I feel a bit of a squeeze and I have a big cushion these days ... those who are spending what they bring in must be really feeling it?

Personally, I would like to see a massive correction ... credit has got out of hand, the buy-now-pay-later culture needs curtailing.

Do you think the dark clouds are about to turn stormy, or is it just a blip on the otherwise fantastic 10 year economic growth we have all enjoyed?

Snazy

Bloody Tories.... cant believe how they set all this up 12 years ago!!

lol @ "blip" bit gentle there

Ringpeas

Pete, IMHO yes, were all doomed.

Snazy

Snazy

So would I.... I would like to see the parties swap sides if the house of commons, and Old Labour to give it a rest

Still, I blame Thatcher.... we would be so much better off with profitless coal mines. Cant believe that The Conservatives were able to set up this financial booby trap though. How heartless. Labour were doing SO well too.

kingofturds

iTrader: (1)

I wonder where all those people whose houses are repossesed,are going to live

Snazy

Aaaah thats ok, Labour will probably deport them to countries who need cheap labour or something. Or something equally underhanded and heartless.

SJ_Skyline

We're all doomed!

Snazy

"we're all doooooooooooooooooooomed!"

Ringpeas

You missed out food, that's up too

Snazy

I must confess I have noticed an interesting similarity.

Labour and "another" both display the same pattern.

Use one common voice to make suggestions and statements. Then use other persona's to defend, deny or manipulate the said statement.

Then when it gets really bad, use alter ego's to defend and back up said comments......

Wierd that.

dpb

Caravan parks



well at least they float

unclebuck

After 10 years of artificially inflating the housing/credit markets New Labour's house of cards is finally collapsing.

Naturally it's anybody's fault but theirs.

Snazy

Purely based on the structure left for them by the last government of course you understand. Labour have done a smashing jobs given what they started off with.



Sorry im just standing in for Pete as he seems to have disappeared. Must be having trouble logging into one of his other accounts to back himself up

PaulC72

As much as I am a disliker of the way Labour run things I think it is about time all these so called politicians actually did something for us the people instead of lining their own pockets.

also whereas I think the mortgage posibilities have reduced {by about 2/3 iirc} there are still plenty out there to choose from and I have never been a supporter of the 100% syndrome. I do realise it was/is the only way some people get one the housing ladder, however I think the main problem is people didn't want to wait and save the deposits up.....which is what we were always taught.

I also agree it has been too easy for people to over stretch themselves with easy borrowing which I think is no good to anyone in the long run.

Snazy

Without a doubt Paul, I agree people are responsible for their own actions.
However i thought thats what some of the measures put into place were meant to prevent.

All the time we slip and slide further into a hole, we are pledging money to other countries, spending money on "pointless" things, and at the same time making it even harder for people to survive.

With the rise in VED some will find it harder still, as well as other constant rises... none of which the government have any control over, you realise this

Chip

Taxes up, NI up, NHS falling apart, fuel price rises, no dentists, massive immigration, illegal wars, massive council tax rises etc etc etc etc .

Chip

mart360

So the man who has emptied the pot, cooked the golden goose, sold of our gold reserves, and handed our rebate back to the Eu on a promise ()

is now miffed that the banks arnt doing enough to help.

thats rich, comming from the guy who supposedly ran our economy for the last 12 years..


this report dosent bode well either.

Brown in record poll slide - MSN News UK - news & weather

Of course there is always the knowledge that whatever happens he and

rest of the bunch will be ok, at our expense.

Until we get politicians who actually do our bidding, animal farm is the best its going to get


Mart

Snazy

All that, and no sign of Pete, maybe he knows the end is nigh and has fled with GB.

on a serious note now, and taking my tongue from my cheek....

The country is in a shocking state, and the spineless government who have gloated about their apparent financial perfection over the last years, seem now to abandont any involvement with the financial state of the country, and say its nothing to do with them.

Hmmm growth, its all your doing.... a slow down and collapse, and its nowt to do with them.

Spineless *****

Chip

Oh and of course Labour sleaze of which there is so much you could write a book on it.

Oh look, somebody already has

Amazon.co.uk: The Little Red Book of New Labour Sleaze: Iain Dale,Guido Fawkes: Books

Chip

PaulC72

LOL Chip.

Snaz, I agree m8 total and utter bol...s as we all know they have all **** the country up and always blame someone else, this country is in a state and the harder you work the worse it is for you, if you don't work you get loads of money thrown at you and if you are not from this country then you get even more.
I don't know why we spend millions or even billions helping other countries as I always thought and to use an old saying 'charity begins at home' which to me means sort your own country first before you sort others, when you are safe, secure and financially independant then use what you have learned and the spare resources you have to help others as until then you are really not in any position to help.

Also I doubt if the boot was on the other foot we would get any help from them.

For me if I had my way I would sell up and leave the country, only the captain is supposed to go down witht he ship

The VED situation is a complete nonsense and people should be compensated for the fact they have purchase something in good faith uptot he point where the tax has been introduced at the new level, I cannot understand how a retrospective tax can be allowed, but OTOH I can as for the politicians they don't have to pay the tax anyway...

MikeCardiff

iTrader: (2)

Nobody can say with certainty what will happen in the future, but the simple fact is that the people who will be hardest hit are the ones who have been greedy over the past few years.

If you havent borrowed lots of money to fund a lifestyle that doesnt match your income, then you only have yourself to blame if you get into trouble when things get harder.

For anyone who has a reasonably secure job, a sensible mortgage and hasnt taken out loads of loans and credit, then things may get a little tighter, but not be disastrous.

Snazy

Very true mate, but at the same time, the people at the high end of borrowing will certainly drag those further down the ladder down with them.

House pricing, exchange rate, investments, stocks and shares, and ultimately the small businesses etc. Thats the end of the market that suffers through no fault of their own.

But as you say, most of us will get away without too much of an impact. Selfish to think that way, but hey

Petem95

It's going to be a shock for a lot of people - there will be a new concept, where if you want to buy something you'll have to be able to afford it, and not just get it on credit!!

The credit bubble was always going to go pop - but it should never have been allowed to get so big, or go on so long. Now the pop is going to have a massive impact - not just on the housing market either.

It could get much worse than just a deep slump, massive house price crash and widespread job losses potentially. There are so many other countries who all want the Western lifestyle now - and they're exporting goods and growing fast (China, India, Russia, Brazil etc). They're all competing with us for limited resources of oil and wheat etc. With their currencies getting stronger, and ours getting weaker we may start to get poorer, as they become richer.....

Fluff-er

tone bliar, my hero

lets now hear from pissy why it's not tones fault, nor new labias

jjones

is that unclebuck or pete

pslewis

It's a WORLDWIDE problem, you muppet - nowt to do with the current government.

stevebt

iTrader: (8)

Its an american problem which was brought to this country by greedy banks

ScoobyWon't

I blame Pete for taking DSGs profits and making them pay him a settlement, thus meaning they had to lay off stay, who have now subsequently, been unable to pay their mortgages or other debts and have become homeless, triggering a new recession

Gordo

They've been consistently claiming credit for a long period of global benign economics.....oh, and taxing and spending the hell out of us when they should have been reducing national debt, not increasing it!

jjones

does anyone have the national debt figures for the last 15 years?