UK’s fragile economy hit by mortgage slump as just 44,000 home loans are approved in June

[Sandman]

A 12.5% drop in mortgages, the lowest since december 2010

and a 60% drop from 4yrs ago,consumer confidence at rock

bottom, high street sales at a big low. Michael Saunders an

economist saying the the data looks like a precursor to economic

stagnation, rather tyhan recovery,and a triple dip round the corner,

I'm sure George is doing his best, but he is new to the game, and

his best is not good enough,in fact his best is appalling, the joke is

he knows it.

 

http://www.dailymail.co.uk/news/article-2181335/UK-s-fragile-economy-hit-mortgage-slump-just-44-000-home-loans-approved-June.html 

[Jonksy]

Shhhhhh Sandy don't tell locky and co because it dispels the bullshit of the tits up Tories being on track with the economy and the widening deficit.

[Briar]

It is hardly surprising that so few mortgages are being given - when
people
see the increased likelihood of losing their jobs quite soon, and when
anyway
the Banks seem not to have any to lend, people are paying rents, or
staying
where they are, even if cramped, rather than risk mortgages on still
overpriced
properties they may soon have to leave when they default.

Grown-up children are staying home with parents until they are in
their 30s,
rather than marrying and moving out as soon as they stop being in
their teens,
the way my generation mostly did. Some even move in with
Grandparent(s)!

Only one thing is a puzzle to me - what did those banks do with all
that money
the "government" gave them ?

On Jul 31, 10:50 am, Sandman <joere...@aol.com> wrote:
> A 12.5% drop in mortgages, the lowest since december 2010
> and a 60% drop from 4yrs ago,consumer confidence at rock
> bottom, high street sales at a big low. Michael Saunders an
> economist saying the the data looks like a precursor to economic
> stagnation, rather tyhan recovery,and a triple dip round the corner,
> I'm sure George is doing his best, but he is new to the game, and
> his best is not good enough,in fact his best is appalling, the joke is
> he knows it.
>

> http://www.dailymail.co.uk/news/article-2181335/UK-s-fragile-economy-...

[Trueblue]

On Tuesday, 31 July 2012 10:50:32 UTC+1, Sandman wrote:

A 12.5% drop in mortgages, the lowest since december 2010

and a 60% drop from 4yrs ago,consumer confidence at rock

bottom,

 

Could it be the Banks Labour involved in the Libor scandle are holding money back to pay the huge fines.?

[jar]

I dont think its down to George or whoever happens to be chancellor the treasury is stuffed with Sir Humphreys otherwise how on earth could they have considered Alan Thomson  whos only experience was as a union official and a postman.

[jar]

s I have said so often Briar the very begining of our troubles was when Clinton forced Fedddie Mae to lend money to people that had little or no chance of repaying their mortgages and then sold on toxic packages to our gullible and greedy bankers who in turn sold them on to us and/or got the tax man to bail them out. In present circumstances lending is a dangerous and risky business for obvious reasons as you point out. They would must prefer to build up their war chest being pretty sure that the Euro is going due southwards and this will affect sterling. This onslaught on Osborne is simply an opposition being opportunist in trying to pick off ministers in order to distabalise the gvt

[Sandman]

Clinton did not force Fannie Mae to lend money willy nilly, it

was those around him, and those within Fannie Mae who were

after the big bonuses, knowing Clinton promised to back them

if it went wrong, read the link, it's three pages long and shows

both the Democrats, and Republicans were on the gravy train.

Bush knew it, and rather than stop it, he opened the flood gates,

end result, a lot of very rich men and women who faked everything

while laughing at the rest of the nation, exactly the same as here.

 

http://www.slate.com/articles/news_and_politics/press_box/2008/09/fannie_mae_and_the_vast_bipartisan_conspiracy.html

[jar]

Sandman whatever happened behind the scenes It was reported that Clinton threatened legislation..Maybe they used his name I was only passing on what I read same effect though.

[Sandman]

A classic example of the ineptitude of a president too busy screwing

his secretary, while a lot of greedy people filled their bank accounts

and pockets with easy money. Brown fell for the same scam, it all

looked good, but Brown was blindsided (intended) and Clinton was

asking for more. By 2001 Brown and Bush were told of the problems

ahead, they ignored it. the bankers scammed the world in pursuit of

big bonuses, and that is why I say, they pay the price for that, if they

say they will go elsewhere then very politely tell them to fcuk off, after

telling them they will be facing fraud charges.

[Briar]

I have said much the same as you Jar, the troubles were born in
America and exported to the RoW to ease the pain a bit for the
Americans - on the principle that a problem shared is a problem
halved. I agree with Sandman though, Clinton never forced it on
anyone, The motivation was the greed of the finance sector people and
the players were all those looking to make a fast buck, and let the
idiots suffer, "buyer beware" and all that. "A fool and his money is
soon parted... "

People who have never been over there just do not realise how totally
amoral American business people can be - they regard a good deal as
one where they can walk away congratulating each other about "How we
screwed (the other Party)" and do not see this as wrong at all. It
takes us Brits and Europeans a while to learn this but afterwards we
can both allow for it and even screw them back without them realising
it. We are more used to the notion that a successful deal is one
where both parties go away satisfied, but we soon learn that "When in
Rome" lesson. I have done it a few times too, and it gives a lot of
satisfaction, when you know that was what they were trying to do to
your side, but this time they were the losers. I still prefer very
much to do deals that are mutually pleasing to all parties - this is
the way to be able to feel comfortable with ones self as well as have
people come back to do business with one again and again.

On Jul 31, 2:08 pm, Sandman <joere...@aol.com> wrote:
> Clinton did not force Fannie Mae to lend money willy nilly, it
> was those around him, and those within Fannie Mae who were
> after the big bonuses, knowing Clinton promised to back them
> if it went wrong, read the link, it's three pages long and shows
> both the Democrats, and Republicans were on the gravy train.
> Bush knew it, and rather than stop it, he opened the flood gates,
> end result, a lot of very rich men and women who faked everything
> while laughing at the rest of the nation, exactly the same as here.
>

> http://www.slate.com/articles/news_and_politics/press_box/2008/09/fan...

> >> >http://www.dailymail.co.uk/news/article-2181335/UK-s-fragile-economy-...- Hide quoted text -
>
> - Show quoted text -

[Trueblue]

On Tuesday, 31 July 2012 18:26:16 UTC+1, Sandman wrote:

A classic example of the ineptitude of a president too busy screwing

his secretary, while a lot of greedy people filled their bank accounts

and pockets with easy money. Brown fell for the same scam,

 

Not just Brown but the whole of the Eurozone as well, Robert Pestons documentary was an eye opener, its was cheap printed government money here, in the US and the EU that was thrown at the banks to stimulate its economys, the obvious result was a south sea bubble in housing, white goods, home improvements etc,; etc;, like all politically created bubbles they burst.

[jar]

I can only repeat what the article stated Briar but you are right s the article stated he threatened legisltion.