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Tuesday, January 06, 2009
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lazen
Activist
Posts:326
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| 02/05/2008 9:59 AM |
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The picture being painted in a media of the innocent but well meaning credit and mortage companies "just trying to help people out with loans"may not be accurate.
These sophisticated companies know exactly what they are doing-luring gullible and weak people into unredeemable debt for a life time?
The upkeep of "the payments"forms a lucrative income for them.
They know exactly how much to offer folks in credit £10-£20,000 which implies that they know very well that the people to whom they are touting these offers that this is their maximum limit of repayment which mean they must have access to their salary income levels and no more.
They are probably also well aware that many applicants lie on their forms or exaggerate their income levels so the debtor is not "pulling the wool"or gleefully
"pulling a fast one"over the Banks in getting a higher than warranted loan.
The mug ends up being the borrower.
If this view is right we can expect little mercy from the hardnosed banks as called for by mr.Eyebrows.
the repyaments form a considerable "easy money"income for the lenders which is exactly what they wanted.
This would not have been possible without people desiring to spend and borrow to the hilt on SOMETHING.
That something turned out to be over inflated expensive HOUSING.
With the adition of new clothes,new cars,household goods,computer games etc and whatever else the materialist retail seducers could come up with.
Now it looks like the housing game is to be played in FOOD RETAIL.
Another "necessity"to survive by which the food buying public can be held to ransom along with the car driver for their petrol.
600%rise in food prices on the cards?
However its a zero sum game.
Folks only have so much income to divvy up.
what the banks need is for people to have more income so they can get their hands on it.
so look out for massive pay hikes!
the govt opposes these.
the banks would LOVE them
more notes to spend spend spend.
on loaves of bread at £10.99 each
on petrol @ £5 a litre
on those interest re payments at £1000 per month.
on those utility bills at £2000 per annum.
it may not happen.
the other option is no pay rise instead a 50%drop over 2 years whilst prices DO rise.
there doesnt appear to be a middle road |
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chefdave
Activist
Posts:481
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| 02/05/2008 12:18 PM |
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I'm not so sure about the sinister banks malarky, when credit is used properly such as a business loan this is beneficial, the trouble is all this money has been used to making housing more expensive, now the so called smart money has left this and gone into commoditites so we're stuck with hyper-inflated housing which is slowly deflating and huge rises in utlilities and food.
Money lenders have been very foolish in recent years by lending to those that cannot afford to repay thus bankruptig themselves in the process. Those such as Adam Applegarth former head of Northern Rock should be prosecuted under terrorism charges imo, putting the nation at £billions of risk is highly dangerous to the nations economic security. |
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james armstrong
First Timer
Posts:5
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| 02/05/2008 2:08 PM |
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sinister is right(get it?)
its a game of monopoly where the treasury, bank of england, clearing banks, and corporate housebuilers sit ina darkened room and lure in the houseneedy, who find all the quares have high priced property already owned.only the stressed househunters, pay , with real money, the 'firm' cannot lose because they have set the rules of the game.
Their game, is trully called real monopoly with real estate and real money. the Treasury puts everyone in debt- stating with students, then encourtaged teh hopusing market to skyrocket by leaving housing prices off the RTPI inflation index. add credit card debt and second mortgages as the value of houses apparently rises for the 70% who own houses and this mammoth debt encourages spending in the high street.
Britain's remaining world ranking industry is the financial market in the city. this debt feeds the banks.
The treasury is in hock to the city- who fund each political party. the press is not independent since they now rely on propety advertising to stay afloat ( internet advertising is a serius threat to thjem) so the press dont spill thebeans. HMG hohard working people , tax them and deliver them as stressed debtors into the hands of
the city. housing debt is the main instrument of this undemocratic exploitation of the people.
self build, financed out of earnings , not borrowing is the way out. campaign for self build to beat the system.
The planning laws designed
in 1947 to build houses appropriately are now used to restrict housebuilding so we need a category for self build given preference. at present multiple build by the Corporate builders is given preference.
Now HMG are di[pping into the public purse to bailout teh city slikkers.
a peoples assembly to control HMG is needed .
a self build campaign is needed and can supply up to perhaps 40,000 houses p a, from people presently
denied access to land for building.
yes there is a way ofgetting the land,which is worth pursuing.
James armstrong |
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