Reply to: Daily Doom

[OwlHoot]

Even if prices do crash it will not be over night, the fastest I have seen them come down in Europe is the rate they went up at X2.

So if prices were rising by 1% per month then the most they will fall is 2% per month. max would be 10% by xmas.

Most they will fall is 34% from peak. (This does not include London)

Nothing will improve in Europe while this continues at the present rate.

In fact, unless they're all shipped back, it will get much worse.

[alreadypacked]

Yes please... still too many riduclously inflated house "valuations" out there. We'd like to get back on the ladder before xmas, but not at those prices!

Even if prices do crash it will not be over night, the fastest I have seen them come down in Europe is the rate they went up at X2.

So if prices were rising by 1% per month then the most they will fall is 2% per month. max would be 10% by xmas.

Most they will fall is 34% from peak. (This does not include London)

[NorthWestPerm2Contr]

I'd recommend COBOL packed decimal.

Oh, hang on a minute.

best off storing in a varchar(15), then we can truncate it to £2,000,000,000 and hopefully nobody will notice.....

[PAH]

I'm sure this country wouldn't be in such as mess if we stopped fighting other peoples wars. Every day costs us shed loads.

Indeed. The 'war on terror' has recently exceeded the cost of WWII at over 4 trillion dollars! Though the yanks did join WWII late. I wonder what the UK's exposure is?

'War on terror' set to surpass cost of Second World War - Americas, World - The Independent

[scooterscot]

And it will continue to increase while we still have Gordon's deficit. That was massive (over 10% of GDP) and will take a long time to turn around.

I doubt 8 years of 'his' government is responsible for the current size of the deficit. The process surely started long before Gordon was a twinkle in Daddy's eye.

All we can do for the next few years is keep reducing that deficit bit by bit. As long as that is happening, money markets will retain confidence in the UK and, by and large, let us get on with it.

The Government borrowed a monumental £170.8 billion last year. If all goes well, we're set to borrow another £167.9 billion this year. At that rate we've only another 86 years to go

Let's hope we've no major real wars to fight, our resources we're so dependant on stay intact. We've zero room for manoeuvre.

[Doggy Styles]

Debt has continued to increase since the government came to power.

It firstly has to stop increasing, turn around then starting decreasing. When is this going to happen?

And it will continue to increase while we still have Gordon's deficit. That was massive (over 10% of GDP) and will take a long time to turn around.

All we can do for the next few years is keep reducing that deficit bit by bit. As long as that is happening, money markets will retain confidence in the UK and, by and large, let us get on with it.

[Dark Black]

I do however favour the more open approach. Let's lay our cards on the table and have a proper recession and get it over with, as we should have done 5 or 10 years ago. A house price crash and everything.

Yes please... still too many riduclously inflated house "valuations" out there. We'd like to get back on the ladder before xmas, but not at those prices!

[TimberWolf]

I do however favour the more open approach. Let's lay our cards on the table and have a proper recession and get it over with, as we should have done 5 or 10 years ago. A house price crash and everything.

[TimberWolf]

Gold has just set a new record.

[TimberWolf]

The UK debt clock needs up dating. They forecast a measly £1.1 trillion by 2011.

[scooterscot]

Nah, the UK is actually doing something about it.

Luckily, HMG can point at Europe and say "Look at what happens if you don't sort it out"

Debt has continued to increase since the government came to power.

It firstly has to stop increasing, turn around then starting decreasing. When is this going to happen?

[Doggy Styles]

Wish this was true - the deficit is getting lower but, the books are still way off balancing. Total debt is still increasing....

It is true. The point is that most liabilities are now out in the open, not that they are being cleared.

[Doggy Styles]

Time for the UK to default?

Nah, the UK is actually doing something about it.

Luckily, HMG can point at Europe and say "Look at what happens if you don't sort it out"

[lukemg]

HMG are not adding new debt, they are now properly accounting for liabilities of pensions in the public sector and projects under private finance initiatives.

It's about bloody time. Together these amount to even more than the previous official national debt, but had been brushed under the carpet for political reasons.

It's a f***ing lot though, eh?

Wish this was true - the deficit is getting lower but, the books are still way off balancing. Total debt is still increasing....

[PinkPoshRat]

I'm sure this country wouldn't be in such as mess if we stopped fighting other peoples wars. Every day costs us shed loads.