[Closed] Are we all DOOOOOOOMED then?

im still a bit puzzled why osborne is still in power,
its harsh to judge him when the globalised economy appears to be so screwed
im just puzzled why this photo of him with a call girl and some coke hasnt brought down the chancellor of the exchequer....
[img] [/img]

....if brown was in this pose when he was chancellor hed have been out on his arse in no time

im just puzzled why this photo of him with a call girl and some coke hasnt brought down the chancellor of the exchequer....

Doomed?

I've got at least a dozen tins of baked beans in the house, along with some beer, a bottle of malt, my rifle and about a hundred rounds of ammo.

I reckon I'll be in the clear watching society collapse around me for about a fortnight* 😀

(*note to self, go and buy some more beans on the way home)

it could all be an unfortunate coincidence, she didnt run an escort agency as she claimed
http://order-order.com/2011/09/12/full-audio-of-natalie-rowe-regarding-osborne-coke-coulson/
she is suing notw for hacking her phone though

and george had just spilt some ovaltime he was making for a nightcap after his bubbly and silk cut?

Am I the only one on here who really dont think it is any of my business if Osborne did drugs when he was 22? Barack Obama had a habit at that age and wrote about it.

Or are you just being a tad sanctimonious?

mcboo - it's only a problem for me if the same people subsequently try and then present themselves as somehow morally 'pure'.

Although in Osbournes case he's a wealthy Tory twit and I'm prepared to make something of it on that basis...

I couldn't give a monkeys what he puts up his hooter. I'm infinitely more concerned about the "NAH! NAH! NAH! I'M NOT LISTENING!!! THERE IS NO PLAN B!!" approach to the economy though. I don't know what he was expecting to achieve, but its not really going well is it

Growth forecast at the start of the year = 3%
Actual growth = 0.4%

OK good, thats what I thought you said.

The ironic thing is our national debt is higher than Greece's however our private sector is of course 'healthy' enough to support the country.

scary how fast some of these figures are going up

http://nationaldebtclocks.com/greece.htm

http://nationaldebtclocks.com/unitedkingdom.htm

I don't think we are all doomed, however there's still an awful long way for this crisis to play on yet. How long is anyone's guess.

To be honest I feel sorry for the younger generation (in there teens, 20's and early 30's). These are the people who seem to be right royally shafted paying for the mess of the previous generation. Lets look at the evidence:

House prices still well out of reach, colossal debts for anyone coming out of university, rents and transport costs rising an an unsustainable rate, very few decent job opportunities.

Can't condone the rioting in any shape or form but to be honest it's no wonder the younger generation are pi**ed off.

On a similar note many responsible pensioners have been shafted too. The low base rates designed to keep the greedy overstretched borrowers in their overpriced homes means that pensioners can no longer get any sort of meaningful return on their hard won savings.

What beggars belief about the whole housing thing is that the government keep telling the banks to lend more. It was too much lending that got us into this mess in the first place. It's the high house prices that are the problem just as much as banks unwillingness to lend and until housing falls to an affordable level then we're just kicking the can down the road, unable to enter any sort of meaningful recovery.

The government need to learn that recessions and downturns are a normal cycle of things. Trying to artificially prop things up for the sake of a few votes will only lead to more pain in the longer term. Let's just get the crash over with and we can then start to build a brighter future for all.

I thought this was going to be about that ancient Mayan prediction.

21/12/2012 - end of the world. Would have been better a day before though, me-thinks.

m just puzzled why this photo of him with a call girl and some coke hasnt brought down the chancellor of the exchequer....
...if brown was in this pose when he was chancellor hed have been out on his arse in no time

the government keep telling the banks to lend more. It was too much lending that got us into this mess in the first place.

They're not listening though, are they? They just keep paying it all to themselves in bonuses instead. Which I'm sure is doing the economy a power of good

it's only a problem for me if the same people subsequently try and then present themselves as somehow morally 'pure'.

Although in Osbournes case he's a wealthy Tory twit and I'm prepared to make something of it on that basis...

Osbourne? What are his credentials for the job? Did he turn round numerous companies and Captain/lead industry in the private sector?

No, he was a career Politician.

Same shit as all of them.

It is all down to his best mate , without him he is nothing.... just think it could by you 😉
Binners for PM

Vince Cable used to be the financial director of Shell. And for about 6-10 years has been the only one worth listening too. On account of usually being right

I wouldn't trust George Osbourne to run a bath.

Unfortunately, only one of those is presently making policy. The other is being humoured, patronised and ignored. I'm sure it won't be much consolation to say I told you so after the upcoming financial apocalypse ;(

Me and binners would run a full-on Junter (pronounced 'hu'nter').

We'd create medals even more outlandish than Colonel Gadaffi and our body guard would be made up of topless page three models carrying Berreta pistols in holsters strapped to their string bikinis.

I'm not sure what the Saudi's would make of us on a state visit mind.

Vince Cable used to be the financial director of Shell. And for about 6-10 years has been the only one worth listening too. On account of usually being right

Alistair Darling's predictions don't seem that far off in hindsight - pity he was gagged though

http://www.guardian.co.uk/politics/2008/aug/30/economy.alistairdarling

Sis in laws mate has just gone on maternity leave (full pay) for 9months.

I'd actually have a hair transplant so I could look like Gadaffi, a scouse style barnet, then grow a massive big Saddam style tache to acessorise.

And wear a uniform with massive shoulder pads that you could launch missiles out of

Don't know what all the fuss is about Gideon having a good time. Just a young bloke indulging what comes naturally, isn't it?

Like Kenny Everett!

That's exactly the look I was aiming for!!!

Well said:

What beggars belief about the whole housing thing is that the government keep telling the banks to lend more. It was too much lending that got us into this mess in the first place. It's the high house prices that are the problem just as much as banks unwillingness to lend and until housing falls to an affordable level then we're just kicking the can down the road, unable to enter any sort of meaningful recovery.

Property values ultimately are what we use to underwrite our debts with, if house prices crash then the collateral of UK Plc suffers and when you're in hock to the tune of a trillion that's not a good thing. Why do you think the last government were extremely swift to do bugger all to mitigate the sudden jump in property prices between 1997 and 2002?

I'm sure that house price crash is inevitable as although the market is inelastic, there will have to be a hike in interest rates at some point in the future. Moreover, first time buyers will be saddled with education debts which will put the price of property out of reach for them.

Our chancellor, just like his two prececessors hopes that the debt will fall before the value of the collateral does, which is why the nasties are so keen for the national debt to be drastically reduced before the next parliament.

So...........am I right in saying that the general concensus is that property prices will remain stagnant at best, or slump at worst and it will probably be better to delay buying until at least next year?

first time buyers will be saddled with education debts which will put the price of property out of reach for them.

average salary = £26,000ish, making yer average student loan repayment £40ish/month.

ie, sod all.

less than that £379- ish
Good source here for you in future debates
http://www.bbc.co.uk/news/education-14785676#student_finance_form

But as graduates' income increases, so does the proportion of student loan repayable.

Under the current rules, a Student Loan is repaid at 9% for pay exceeding £1250 per month or £15k pa. These thresholds haven't been revised since the current student loan was introduced ten years ago. Remember that £15k is worth a hell of a lot less in 2011 than in 2001.

At £26k p/a the current monthly student loan repayment is £82.00

it's a good job Nick clegg brought in the new repayment scheme then isn't it...

just think what the next generation of graduates will do with their extra £50/month.

🙂

<dons tin foil hat>
Tories, Labour, LibDem, New Labour, etc etc. Politics and ideology really have little to do with things any more, all the main parties are puppets to the likes of Rothschild and do as they are told. Politics are here to maintain the illusion that we have a choice over who governs us and to divide and distract the population from what is really going on.

If the politicians care what history thinks of them then the best they can hope is that the worst doesn't happen on their watch, if it does there's little they can do so they'll just keep skimming enough off the top to ensure they retire comfortably. Meantime we're all too busy arguing the t0ss about socialism versus posh Eton toffs.

There's a reason the Bank of England pension pots were moved to index linked guilts a few years ago, and it wasn't because they believed what they told us plebs.
<removes tin foil hat and places it reverently on the mantelpiece>

Now, where did I put that tin opener....

yes far better to pay back MUCH more over a longer time than much less over a shorter time
Thanks Nick for breaking your pledge
We have done this before

pass.

Ah, the new scheme... I work in payroll so I'm using current rates for 2011/12 🙂

I would perhaps make the point that the current system's rates and thresholds have been unchanged for a decade. Will the proposed £21k threshold be subject to annual review as per the personal allowance, or will it still be £21k when the average salary inevitably creeps beyond £35k due to inflationary pressures?

Or they could remain skint for 30 years (or work abroad) and then return safe in the knowledge that their debt will be written off?

[edit] I've said it before and I'll say it again, Politicians = bastards. The lot of 'em.

I'd ****ing hate to be about twenty now. If you're from a working class background and have even a bit of modest ambition - a university education, to own your own property, a decent job, I suspect life is going to be very frustrating.

And they wonder why a few people may take up the option of throwing petrol bombs at police. If they haven't yet, they will be doing soon

So...........am I right in saying that the general concensus is that property prices will remain stagnant at best, or slump at worst and it will probably be better to delay buying until at least next year?

No one really knows at the end of the day, however all the major indicators are pointing to further big falls to come and there's no real evidence to support further price rises that's for sure.

Probably the most telling indicator is the banks and their insistence of between a 20-4-% deposit to get a decent rate of interest. This means that they are factoring in a 20-40% reduction in real property values. They are covering their arses and their balance sheets.

The supply-demand thing is not so much of and issue as people would want you to think. Yes the UK needs more homes, but demand is only created by people having the cash (or the finance) in place to be in a position to buy.

Between 1998 and 2007 that was easy. The banks lent money to every man and his dog. Self cert, interest only, high LTV mortages created huge demand. The demand was there because of the easy credit which pushed house prices intergalactic.

Demand is not created by people desperate to move out of their parents home or rented accommodation but who don't have the money for a deposit. That's called 'Desire' - very different to 'Demand'

Many people still believe that property simply can't fall in value. That's probably because they have become accustomed to 15 years of boom and ever rising house prices. Thing is, times have now changed and for all we know prices could be on a 15 year downturn.

No one knows but one thing is for sure. I would be in no rush to buy a house right now. Much better to wait and see how things pan out for a year or two.

If I was 20 now I'd be considering emigrating. I know the grass is always greener and all that but there doesn't seem to be much incentive (outside the obvious, family etc) for the young to stay here. If things are still crappy when my kids are old enough I'll encourage them to look into it.

Deleted re-post!

if house prices crash then the collateral of UK Plc suffers and when you're in hock to the tune of a trillion that's not a good thing

Many people still believe that property simply can't fall in value

If I was 20 now I'd be considering emigrating.

Don't worry! We have it all under control.

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I doubt there will be a house price crash as such, more of a correction.

What I think will likely happen is lots of people will lose their jobs and subsequently their homes, the banks will tighten up lending even further so that 200k house you couldn't afford at 5% interest rate and 20% deposit is now a 140k house you can't afford at a 9% interest rate and 40% deposit.

So who will buy the houses? Same answer as always, the rich assholes with loads of cash. There will be a surge in house prices again, created by cash-rich buyers picking at the carcasses of shattered family dreams, until a kind of equilibrium is reached.

What will happen to the rest of the people? I would say if you own a house now and keep your job, you'll probably be ok, unless you're overstretched already. Inflation and a rise in the base rate will push many over the edge. If you don't currently own a house, and you're not loaded, you'll probably be renting forever.

I hope I'm wrong though

It's not a question of if but when...

I doubt there will be a house price crash as such, more of a correction.

What I think will likely happen is lots of people will lose their jobs and subsequently their homes, the banks will tighten up lending even further so that 200k house you couldn't afford at 5% interest rate and 20% deposit is now a 140k house you can't afford at a 9% interest rate and 40% deposit.

So who will buy the houses? Same answer as always, the rich assholes with loads of cash. There will be a surge in house prices again, created by cash-rich buyers picking at the carcasses of shattered family dreams, until a kind of equilibrium is reached.

What will happen to the rest of the people? I would say if you own a house now and keep your job, you'll probably be ok, unless you're overstretched already. Inflation and a rise in the base rate will push many over the edge. If you don't currently own a house, and you're not loaded, you'll probably be renting forever.

I hope I'm wrong though

😥

renting sucks... 775pounds into an already rich guys pocket every month. i want that money to be going into something i (kinda) own.