walla

But the other 50% didn't. Was that the one in the Observer?

Walla

kong

If you believe that this bubble will end in a "soft landing" then you are dreaming. Similar to the misconceived idea most of this forum share, that your life will be improved by moving 12000 miles to a boring, narrow minded suburban hellhole.

All bubbles end with burst and a sharp fall, whether it be stocks or housing. Their is no historical precedent to a "plateau" or "soft landing" or whatever phrase the gov tossers use to spin their bull.

Heres a graph for you, average prices of houses from 1970 to 2003. Notice how when the graph shoots right up, it tumbles back down bloody fast. No "leveling off" happened before, why will it this time?? Because Messers B.Liar and Brown say it wont???

walla

Hey Kong

Peaks and troughs it's called, up and down up and down It's the way of the world my friend. However I'm no economist I only take my info from economists that write in the papers (not the red tops).

So it has been decreed in my household that we will not buy these newspapers any more and take your word for everything as you are always right. There is only one problem here and that is: I hate f**king people that think they are right all the time. so there you go. I will come on line to read your rantings and follow the word of Kong

The Daily Dong, sorry Kong.

Our brief electronic friendship is over, it lasted 24 hours, not to worry. I am most taken back by your insult at the begining about living in a bubble and having misconcieved ideas like the rest of my fellow posters about moving to Oz. I am extremely surprised you could come out with that kind of talk especially about Oz.

Did you have a bad experience in the Blue Mountains? Were you taken away by Martians and did they do things to you in their space ship.

Something has to explain the anger.

Gonna go but will read your news in the morning.

And one more thing I voted for Blair at the last election. Here is my prediction: Brown will be the next Labour leader, love to see your face when that comes around, hope you're still a member then.

Walla

loose

Did you see "Deliverance" ?

You might be onto something there walla!

walla

Hi Loose

I did, good film. The best parallel though is the film Independance Day, you know when the guy at the end shoved his plane up the martions arse to blow it up, follow?

He was abducted too, scarey.

Walla

kong

Walla.

I was not saying that you lived in a bubble. I was refering to the housing bubble that we are plagued with at the moment.

The thing is I agree, Labour will win next year and Brown will no doubt replace Blair. The sadness of all this is that after the election the real cost of Browns destruction of the UK economy will become apparent. More tax rises to pay for his wastefulness, his creation of Mcjobs in the public sector. The rises in tax and interest rates will cripple the public who have over borrowed, encouraged by the "Borrow our way out of recession chancellor".

I am saving as hard as I can now, tough times are ahead there is no doubting that. Crash Gordons party as coming to an end and its going to hurt a lot of peeps.

Anyway, Walla you seem pretty reasonable, I did not mean to insult or offend you, sorry

walla

Well Kong

You do surprise me. This is the most reasonable post I have read from you and an apology, I think I'm getting you out of your shell a bit!! Thing is I think you should go a bit further and say sorry to the other members you have offended on the forum.

I'm replying to your earlier post now about Goose.

Walla

bondipom

How has Brown destroyed the UK economy? Personally I think he has been the saving grace of the government. Making the BOE independant should have been done a long time ago and I doubt the Conservatives will take control and repolitise interest rate decisions.

It is the other monkeys in government that are the problem. Lowering rates during periods of low economic activity (what the world has been doing) is standard practise. Now that the indicators are on the rise a rise in rates is inevitable.

The new challenge for governments is keeping housing affordability down during such periods of low interest rates. No one is quite sure how to do that. NSW is playing with stamp duties but I feel that will slow the market rather than make it more affordable.

It is the banking industry that needs to look at its lending practises if people have overextended themselves.

What makes me laugh is the same situation exists down here yet I don't here the same comments about Howard and Costello.

kong

There now follows a statement by the Rt. Hon Chancellor of the Exchequer Gordon Brown MP:

"Historically the economy has been messed up when there has been a big boom. I know I promised to abolish boom and bust but that was always a little wishful thinking on my part and so when I became Chancellor I gave the responsibility for setting interest rates to the Bank of England so that when things do go wrong, as they always do, then the Bank of England would carry the can. I was always a little new to the job of Chancellor. I have been saying recently that there won't be a house price crash, but lets face it, you have got to be stupid to believe anything that a career politician says. Contrary to popular belief, you don't need to know anything about economics to be Chancellor, you just have to be a good trickster and fraudster, and pretend that you know what you are doing. I have now spent the last seven years as Chancellor completely screwing up the economy and look at where that has got us, on the brink of perhaps the worst economic disaster that this country has ever seen. You see, it isn't until a Chancellor has left office that people realise what a complete and total mess he has made of the economy that some other idiot will have to sort out. But by the time things start to go wrong with the economy, which I suspect is pretty soon now, I will have replaced that smug toothy-grinned lying degenerate and war-criminal who is currently at No. 10 and have become Prime Minister myself. Thankyou."

That concludes the statement by the Rt. Hon Chancellor of the Exchequer Gordon Brown MP.
Email: [email protected]

Bull or Bear? Bear

bondipom

Mildly amusing but said more about your personal opinion of Brown rather than any knowledge of economics.

Central banks are made independant to bring interest rates in line with the economic cycle rather than the electoral cycle. Give politicians the decisions on rates and you will get pre-election booms and post election inflationary busts.

The decision to make the BOE independant is probably the best decision this government ever made. Lose that independance and down goes the pound and up goes rates in anticipation of inflation.

The chancellors main job nowadays is to decide where to tax to pay for the others spending decisions.

Muzza04

Yes there could be Economic meltdown in UK very soon.

Why?

Scottish politicians eh!

Messrs Blair, Brown and Reid. Dont trust em at all.

Just need to look at the catastrophe that is the Scottish Parliament and its new 400million pound offices!!!


Deja vu a la Millenium Dome, Wembley Stadium and railways.

RichS

It strikes me that the problems afflicting the Uk re housing boom are akin to those in Australia.
Low interest rate, coupled with high employment and an increase in disposable income have fuelled a large housing boom. In australia this is compounded by the Aus govt's support for negative gearing which encourages loss making investment in the market. As for similar schemes in the UK, I can;t comment I'm not living there.

Would it be pushing the boat too far at this stage to point out that:

a) US rates are at 1%
b) theres a US election coming soon.

Lets not kd ourselves. If their rates start rising toward say 3% then ours (UK/AUS) will have to follow suit and may spiral out of control.

An argument in there somewhere perhaps that a strong Euro as a counterbalance to the USD might be no bad thing in the longer term.

walla

Kong

I've re read your post again and just realised the Crash Gordon thing!!! Chuckle chuckle!!

Walla