The Truss Government Sep-Oct 2022 (49 days)

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old fart
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Re: The Truss Government 2022-

Post by old fart »

bubbles1966 wrote: Mon Sep 26, 2022 8:01 pm

What's coming is eventually going to be closer to 1991/1992.

Millions lost their jobs, many sat in negative equity and tens of thousands of people lost their homes.

Lamont was chancellor 90/93 , the period I was talking about I wasn't on 18k when I had a 35k mortgage at 15% think I was on about 7k and the missus 4k, oh and 3 kids
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Re: The Truss Government 2022-

Post by Kludgehammer »

old fart wrote: Mon Sep 26, 2022 6:53 pm Ah...... but so were wages
No - house prices have risen by 2.5 times the rise in earnings over the last 30 years
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Re: The Truss Government 2022-

Post by bubbles1966 »

Prob wrote: Mon Sep 26, 2022 8:18 pm The graph shows that even around 1991 while rates where again high in today terms it was 6%. While it may have hurt then this is a whole new level.
It's only the addition of all the other debts that have been accumulated that enables them to draw that conclusion.

So, the problem isn't the mortgage per se, it's the effect of all the student loans, credit cards, car leasing etc. These things did not exist in anything like the same fashion and to the same level back in the 80's, early 90s.

As for the public sector/public spending - they will have no choice but to find more economical ways of running things.

They might want to think about the long term consequences of encouraging 50% of young people to go to university and start their working life having racked up a shed load of debt as one of the first things they need to curtail.
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Re: The Truss Government 2022-

Post by Big George »

Truss on Macron: "The jury's out"
Truss on new fascist PM elected in Italy:
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Re: The Truss Government 2022-

Post by bubbles1966 »

old fart wrote: Mon Sep 26, 2022 8:37 pm Lamont was chancellor 90/93 , the period I was talking about I wasn't on 18k when I had a 35k mortgage at 15% think I was on about 7k and the missus 4k, oh and 3 kids
I bought my first house in '91 for £61,000. Two years later, it was worth £52,000.

Just had to grin and bear it for years whilst everything worked through. Couldn't afford bugger all - foreign holiday , got to be kidding , leased cars , righto....

I actually find it very, very difficult to look back at the photographs of the time with my kids because I can see how little we/they had.
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Re: The Truss Government 2022-

Post by mumbles87 »

bubbles1966 wrote: Mon Sep 26, 2022 8:52 pm I bought my first house in '91 for £61,000. Two years later, it was worth £52,000.

Just had to grin and bear it for years whilst everything worked through. Couldn't afford bugger all - foreign holiday , got to be kidding , leased cars , righto....

I actually find it very, very difficult to look back at the photographs of the time with my kids because I can see how little we/they had.
Yet how much did you sell it for.
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Re: The Truss Government 2022-

Post by bubbles1966 »

mumbles87 wrote: Mon Sep 26, 2022 8:56 pm Yet how much did you sell it for.
65k, a whopping 4 grand profit minus expenses after 8 years.

And the thing is, once you hit an interest rate of 6.3/6.4 - the repayment total is actually double the mortgage. And at 12%, it's treble. And the interest is front loaded.

So you ain't really paying anything substantial off for years and years and years.
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Re: The Truss Government 2022-

Post by sendô »

Yeah, still at least people earning £1m pa are getting an extra £54k in their back pocket.
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Re: The Truss Government 2022-

Post by mumbles87 »

bubbles1966 wrote: Mon Sep 26, 2022 9:01 pm 65k, a whopping 4 grand profit minus expenses after 8 years.

And the thing is, once you hit an interest rate of 6.3/6.4 - the repayment total is actually double the mortgage. And at 12%, it's treble. And the interest is front loaded.

So you ain't really paying anything substantial off for years and years and years.
Yet if you had rented for those years you would have been throwing your money away.

But the situation you found in during 91-95 was a Tory government in charge of the bank of England aswell.. yet you continue to be their cheer leader.
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Re: The Truss Government 2022-

Post by smuts »

Prob wrote: Mon Sep 26, 2022 8:18 pm The graph shows that even around 1991 while rates where again high in today terms it was 6%. While it may have hurt then this is a whole new level.


The public sector has been cut so far back their is nothing more they can cut. This is pure ideology from the Tories. The government know full well that come April they will be expecting council to increase council tax to cover the black hole that government has forced on them. Social care will get nothing and that is the biggest cost to council budgets.

Havering council is about to go under due funding they have to find £80million. They got away with it before because the Tory government would top up the Tory ran council. However they are no longer Tory ran and they already have one of the highest council tax in London. They are looking to move to monthly bin collections.
I'll be taking my bin bags to Rosindell's office in Western Road and leaving them there if that's the case.
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Re: The Truss Government 2022-

Post by mumbles87 »

smuts wrote: Mon Sep 26, 2022 9:52 pm I'll be taking my bin bags to Rosindell's office in Western Road and leaving them there if that's the case.
Might improve "thatchers house"
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Re: The Truss Government 2022-

Post by bubbles1966 »

mumbles87 wrote: Mon Sep 26, 2022 9:37 pm Yet if you had rented for those years you would have been throwing your money away.

But the situation you found in during 91-95 was a Tory government in charge of the bank of England aswell.. yet you continue to be their cheer leader.
Well I certainly don't moan about them all day every day. :newthumb:
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Re: The Truss Government 2022-

Post by mumbles87 »

bubbles1966 wrote: Mon Sep 26, 2022 10:04 pm Well I certainly don't moan about them all day every day. :newthumb:
When you live in a world where the government is constantly failing it's people and blaming everything but themsleves after being in power for 12 years I think it's well without our rights to voice our displeasure of being ruled by a bunch of idiots.
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Re: The Truss Government 2022-

Post by jabbaglob123 »

bubbles1966 wrote: Mon Sep 26, 2022 10:04 pm Well I certainly don't moan about them all day every day. :newthumb:
And this is why this country is in a mess. There are too many people with this 'I'm alright Jack' attitude.

Honestly anyone who voted for the last 12 years of this s**** should be ashamed.
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Re: The Truss Government 2022-

Post by bubbles1966 »

jabbaglob123 wrote: Mon Sep 26, 2022 10:25 pm And this is why this country is in a mess. There are too many people with this 'I'm alright Jack' attitude.

Honestly anyone who voted for the last 12 years of this s**** should be ashamed.
Nah.

We have elections and people can vote for who they like and for whatever reasons they choose.

And just because others don't like it. Well, that's just unfortunate.
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Re: The Truss Government 2022-

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Re: The Truss Government 2022-

Post by the pink palermo »

bubbles1966 wrote: Mon Sep 26, 2022 10:31 pm Nah.

We have elections and people can vote for who they like and for whatever reasons they choose.

And just because others don't like it. Well, that's just unfortunate.
And in two years, this post will be here to remind you of that.


Your comment is fair, but whats sauce for the Goose and all that-
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Re: The Truss Government 2022-

Post by Tenbury »

Big George wrote: Mon Sep 26, 2022 8:46 pm Truss on Macron: "The jury's out"
Truss on new fascist PM elected in Italy:
Oh, give her a break, she doesn't really understand all this sh*t... And she's only saying what Jacob told her to say...
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Re: The Truss Government 2022-

Post by Samba »

bubbles1966 wrote: Sun Sep 25, 2022 11:29 pm 54,000 x 31,000 people earning a million = £1.674bn redistributed among 66m citizens in equal shares = £25.36 divided by 52 weeks = 49 pence each.

No, you can't fix stupid.
Sounds a bit like that trickle down economy, only more generous.
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Re: The Truss Government 2022-

Post by Samba »

Big George wrote: Mon Sep 26, 2022 11:16 pm
He was funnier when he used to do those 'Halifax' ads.
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