Were all in deep do do, hows it going to pan out?
Discussion
Ok weve all seen the 'This is bad thread' and 'How far will house prices fall', but to date nothing very significant has actually happened. Yes, nearly all western countries are in mahoosive debt but out of all the grim predictions I havent seen a life changing moment coming to fruition. Weve had the recession and how we would be all living on potato peelings and drinking rain water, our houses would be worth nothing next week and we would all loose our jobs...
So without needing a lesson on why we are in the shat, what do we really think the next 5 years has in store? What are the PH collective doing to protect themselves?
Are we looking at a massive change in the way society is structured, we cant wind the clock back - so lets think foward.....
So without needing a lesson on why we are in the shat, what do we really think the next 5 years has in store? What are the PH collective doing to protect themselves?
Are we looking at a massive change in the way society is structured, we cant wind the clock back - so lets think foward.....
k all. House prices have dropped a fair bit in certain areas, in the West Midlands I guess they've fallen about 10-20% going by the price changes from when I looked three years ago compared to now. So you'll probably find that the price drops will depend on the region. In contrast, house and flat prices around Hampshire seem to be as high as they were when I moved here with certain areas seeing prices go up.
As for how it will all pan out, I'd hope to see increased efficiency savings from government (reduced public sector, reduced spending on non-projects, reduced foreign aid etc) and reduced taxes to encourage business growth in the UK. The current token gestures are pointless and seem to be doing nothing other than giving the Unions something to moan about.
However more likely, we'll see increased taxation to kill off the private sector and then we can all live in a communist Utopia
As for how it will all pan out, I'd hope to see increased efficiency savings from government (reduced public sector, reduced spending on non-projects, reduced foreign aid etc) and reduced taxes to encourage business growth in the UK. The current token gestures are pointless and seem to be doing nothing other than giving the Unions something to moan about.
However more likely, we'll see increased taxation to kill off the private sector and then we can all live in a communist Utopia
Look at the finance section of the Telegraph today.
One headline saying consumers are in recession (like that's a bad thing?)
http://www.telegraph.co.uk/finance/economics/85367...
Another about the public having their head in the sand about pensions.
http://www.telegraph.co.uk/finance/personalfinance...
So consumption is bad because people aren't saving and saving for a pension would be bad because there isn't a growth in consumption.
Finally the ultimate insanity
http://www.telegraph.co.uk/finance/8537284/OECD-th...
Slowing cuts!? Which implies unless there are debt increases (the public sector rather if private/business doesn't), then the house of cards collapses.
Makes me think the economy is just a big pyramid scheme based on debt !
One headline saying consumers are in recession (like that's a bad thing?)
http://www.telegraph.co.uk/finance/economics/85367...
Another about the public having their head in the sand about pensions.
http://www.telegraph.co.uk/finance/personalfinance...
So consumption is bad because people aren't saving and saving for a pension would be bad because there isn't a growth in consumption.
Finally the ultimate insanity
http://www.telegraph.co.uk/finance/8537284/OECD-th...
Slowing cuts!? Which implies unless there are debt increases (the public sector rather if private/business doesn't), then the house of cards collapses.
Makes me think the economy is just a big pyramid scheme based on debt !
Until the majority of chavs, Labour party members and other such wastrels, are made to realise that they can't afford the 54" LCD or the extra portion of junk food as well as overspending by Governments on the backs of our grandchildren, we WON'T recover!
Any good housewife would be better in the finance department of the government that any of the last bunch of ignorant socialist twunts!!!
Save the money, don't spend it on the stupid extras OR the prestige projects (Olympics for one), or foreign aid, then we can get our house in order
We who are older do know how to balance the books, we didn't get everything thrown at us, nor did we have a "right" to everything; get your noses to the grindstone and EARN IT before you SPEND IT!!!
Any good housewife would be better in the finance department of the government that any of the last bunch of ignorant socialist twunts!!!
Save the money, don't spend it on the stupid extras OR the prestige projects (Olympics for one), or foreign aid, then we can get our house in order
We who are older do know how to balance the books, we didn't get everything thrown at us, nor did we have a "right" to everything; get your noses to the grindstone and EARN IT before you SPEND IT!!!
Four Litre said:
Weve had the recession and how we would be all living on potato peelings and drinking rain water, our houses would be worth nothing next week and we would all loose our jobs...
Tbh we were nowhere near that in the seventies (although savings were good 
) so I don't really know what people are whinging about. 
Four Litre said:
So without needing a lesson on why we are in the shat, what do we really think the next 5 years has in store? What are the PH collective doing to protect themselves?
Are we looking at a massive change in the way society is structured, we cant wind the clock back - so lets think foward.....
There is no long term change in society, except maybe less reliance on credit.Are we looking at a massive change in the way society is structured, we cant wind the clock back - so lets think foward.....
This depression, because lets face it - it is a depression in all but name - will end when people have paid down significant sums on their houses, credit cards and car finances.
Any excess people have had has been taken up in food and fuel prices and other things like car insurance. When the nation's personal debt has come down, only then can we expect a resumption of spending.
Collapse of the current government/welfare state based society we currently see. Ultimately no advanced nation can afford to commitments its made to their ageing populations.
The people who are going to be badly impacted are those that believe the state will fund their retirement as decent income levels for 20-30 years after they reach 60.
So I see massive sovereign defaults (although it maybe done via high levels of inflation, which you could argue aren't strictly speaking defaults). After the defaults I see lots of trade barriers going up so Western economies can rebuild without having to face Eastern competition.
What am I doing? Shorting Western government debt, going long on emerging economies with good demographics (i.e. Not China).
As I've put my money on that outcome, expect the opposite to occur.
The people who are going to be badly impacted are those that believe the state will fund their retirement as decent income levels for 20-30 years after they reach 60.
So I see massive sovereign defaults (although it maybe done via high levels of inflation, which you could argue aren't strictly speaking defaults). After the defaults I see lots of trade barriers going up so Western economies can rebuild without having to face Eastern competition.
What am I doing? Shorting Western government debt, going long on emerging economies with good demographics (i.e. Not China).
As I've put my money on that outcome, expect the opposite to occur.
Edited by Fittster on Thursday 26th May 13:52
Jimbeaux said:
After 2012 you lot can have Chicago Jesus; he'll sort you out in short order. Redistribute your hoarded wealth he will. Just fix him up with dual citizenship and away we go.
Going to replace him with someone who will actually tackle the size/spending of the state in a significant way? Last time round the only candidate who really wanted to get stuck into the economic problems (Mr Paul) didn't get the nomination. Fittster said:
Jimbeaux said:
After 2012 you lot can have Chicago Jesus; he'll sort you out in short order. Redistribute your hoarded wealth he will. Just fix him up with dual citizenship and away we go.
Going to replace him with someone who will actually tackle the size/spending of the state in a significant way? Last time round the only candidate who really wanted to get stuck into the economic problems (Mr Paul) didn't get the nomination. Disgusted said:
Jimbeaux said:
After 2012 you lot can have Chicago Jesus; he'll sort you out in short order. Redistribute your hoarded wealth he will. Just fix him up with dual citizenship and away we go.
He's Irish now, so he is. Almost one of us.heebeegeetee said:
Four Litre said:
Weve had the recession and how we would be all living on potato peelings and drinking rain water, our houses would be worth nothing next week and we would all loose our jobs...
Tbh we were nowhere near that in the seventies (although savings were good ) so I don't really know what people are whinging about. http://ftalphaville.ft.com/blog/2011/05/26/578626/...
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