Just LUVVING this Credit Crunch!!

[eastlondonseagull]

Is this the same media that has caused 50% of the problems with their endless doom and gloom stories and house price horror crash stories and reporting everything and twisting every statitistic into the worst possible interpretation causing a self fulfilling prophecies of doom and gloom and house price crashes

Probably is, yes. Does my head in every time I head home from work and I read another doom and gloom scare story in the Lite, London Paper or ES. Every single one of them makes you believe the world's about to end, until you read the facts (if there are any) in the story and realise it's not nearly as bad as they're making it out.

And that really pisses me off. My own industry, adding fuel to the fire, yes. I work in kids' magazines, so I have no bearing on what the papers say. But it downright annoys me when the papers go off on one.

Plumstead, where I live, is apparently a 'negative equity hotspot' according to a story in the paper the other day. Brilliant. People probably read that and thought, 'Ok, I'll not move there then', when all the story was actually saying was that quite a lot of people have high lone-to-value mortgages. Doesn't mean the area's shit. Where are the stories proclaiming Plumstead as one of the cheapest, greenest and up-coming parts of London?!



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[drew]

What this govt fail to tell us is that is is making money hand over fist whilst the oil prices go up.....they cane it from the suppliers in duty, the motorists in duty and tax, our customers as we are still a supplier. So basically Brown doesn't care a jot...why should he? You just have to look at the smug polititions on Questiontime etc.

The Government aren't creaming duty just because the price of oil is high. The duty is an amount paid per litre so there is no increase if Oil companies decide to increase the price. (Although duty here is probably the highest in the world and the Gov could help by reducing it) Where they do gain is the extra VAT.

Do you think those in the financial services industry might have something to do with the mess we are in, possibly, just a bit?

A sole mortgage broker plying his trade and working his nuts off wondering where the next deal is coming from , no.

If you mean the top 5 banks and the top 5 lenders who rode the back of the USA lending and booming economy funding non status adverse lending at 95% in an unregluated environement where the 2 criteria were did you have a 5% deposit or equity ? - Yes, do you have a pulse ? - Yes, the mortgage is yours .

Which has now gone sour as people never had the ability to repay the mortgage and house price falls of 20% leaving millions in negative equity and repossessions meaning our great financial institutions have written off billions of pounds which means we have to pay for it as they will not lend to good people here and if they do the give crap mortgage rates with huge arrangement fees, yes the financial institution is to blame.

Can't believe this, second time this week I have agreed with Uncle S. The Americans are shit at self regulation but then that's a free market for you. If they hadn't lent to shit customers and then sold the debts on to international mug banks then we wouldn't have the credit crunch. Americans business practices have caused global market problems before, look at Enron, Worldcom and the fact they let a bunch of terrorist knock out a couple of tall buildings ( the last one can be blamed on American Intelligence - christ, there's an oxymoron if ever there was one).

 

[sod1]

at 10.50am today i am officially told i no longer have a job............................................................................................................................

I love the Government sooooooooooooo much

try this !

Get involved: Jobs at the ODA - London 2012

 

[Freddie Goodwin.]

Sorry to hear that Tony. I've been made redundant 4 times but they were all way back in the 70's - 80's when engineering went down the pan.

I am amazed that the financial whizzkids haven't seen this coming. I've watched my youngest son get into massive debt simply by banks/etc lending him money which it should have been obvious he couldn't afford to pay back, yet he is just typical of many youngsters who have been allowed to live on credit.

I've also seen, over a couple of years now, how small businesses have started to struggle and the general slow down in the economy.

Sadly, I also think thngs will get worse before they get better.

 

[hitony]

Just want to thank everyone for all the good wishes and advice in this thread, I know i am not alone in this position and i want to wish everyone else who is a victim of this Credit Crunch all the best for the future.

 

[Tom Hark Preston Park]

Just want to thank everyone for all the good wishes and advice in this thread, I know i am not alone in this position and i want to wish everyone else who is a victim of this Credit Crunch all the best for the future.

You, sir, are a top man. Hope something good comes out of your crap news. & Hope to see you at Worthing to buy you a beer

 

[hitony]

You, sir, are a top man. Hope something good comes out of your crap news. & Hope to see you at Worthing to buy you a beer

Thanks Tom and we will deinatly be at the Worthing game next saturday, is there any particular pub people are meeting in ?

 

[steward 433]

Thanks Tom and we will deinatly be at the Worthing game next saturday, is there any particular pub people are meeting in ?

Most people will be in the one by the station