More economic gloom

[oompah]

Just been reported down here in the south west that we are running short of fuel because of the industrial action by lorry drivers and one garage is charging 199.99p a litre for petrol.

 

[Bilioustrumpstaine]

This doesn't read all doom and gloom

The Nineties negative equity crisis coincided with a recession and a huge rise in unemployment that left hundreds of thousands of borrowers saddled with home loans they could not pay back. This time the effect is likely to be less severe as unemployment is still low and the economy is forecast to avoid recession. Also, the length of the 15-year boom means most of Britain's 10.8m mortgage holders hold healthy chunks of equity


Sure property prices have fallen in some areas and some overpriced new developments have taken a right wallop and anyone with a 100% loan will be in a negative equity situation. So what ? They have only just moved in, they won't be moving for a while yet. The market will catch up .

Any mention of houses falling by 50% over the next 4 yrs.

Just keep reading the bit that says "the economy is forecast to avoid recession" and hum "Don't worry, be happy"

Bad news sells papers, webspace etc.

 

[Bilioustrumpstaine]

Just been reported down here in the south west that we are running short of fuel because of the industrial action by lorry drivers and one garage is charging 199.99p a litre for petrol.

No shortage round here, no queues.

 

[Bilioustrumpstaine]

Joe, is this you

http://www.just-pooh.com/eeyore.html

 

[vsynth]

Oil has hit a new record high. So the solution? To ask the Saudis to increase production! Err hello? That will only make the inevitable dry-well crash sooner and harsher. Shouldn't we be using less?

House prices are predicted to drop by 50% over the next 2 years and won't regain their current level until 2017. Will it leave you with negative equity?

House purchased in 1990 for £44,000 valued now at £160,000 so no thank you , it won't, thank you for your concern

 

[joe-90]

Just keep reading the bit that says "the economy is forecast to avoid recession" and hum "Don't worry, be happy"

Bad news sells papers, webspace etc.

Maybe you should read the bit that says:

Barrel of oil in 2005 = $50.

Barrel of oil in 2008 = $140.

Barrel of oil in 2009 = Predicted at $200

The economy cannot avoid recession - it is a mathematical certainty.

 

[Steve]

Joe if you're that concerned, top yourself.

 

[securespark]

Oil has hit a new record high. So the solution? To ask the Saudis to increase production! Err hello? That will only make the inevitable dry-well crash sooner and harsher. Shouldn't we be using less?

House prices are predicted to drop by 50% over the next 2 years and won't regain their current level until 2017. Will it leave you with negative equity?

House purchased in 1990 for £44,000 valued now at £160,000 so no thank you , it won't, thank you for your concern

Secure Towers, purchased in 1999 for 142K, now 380K+. No, nor me.

 

[disinfo]

Joe if you're that concerned, top yourself.

as long as he doesn't use a car, further eating into the diminishing oil supply

 

[joe-90]

Joe if you're that concerned, top yourself.

I'm concerned for you Steve - your job isn't safe, and neither is your house.

The sad fact is that you'll spend most of your life unemployed.

 

[tim west]

Joe, is this you

http://www.just-pooh.com/eeyore.html[/QUOTE]

Ahh sweet! My favourite character.......and the ass aint too bad either

 

[mark vincent]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is onl exploiting a 5th of its reserves

 

[joe-90]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is onl exploiting a 5th of its reserves

Phew! Thank Heaven for that. That's great news. Now give us the links so we can all rejoice.

Let me start you off.

http://www.moneyweek.com/file/19848/the-shocking-truth-about-north-sea-oil.html

 

[mark vincent]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is only exploiting a 5th of its reserves due to the security situation. Iran and kurdistan have massive reserves, part of the problem is being caused by speculators driving up the price just like they did with property. the Arab states are using their inflated profits to speculate which drives up the price even more, it is called called double dipping. It should be remembered that it still only costs $2 a barrel to extract saudi Arabian oil from the ground, why should the oil states pump more oil and bring the price down when they can pump less and get more money.

As for house prices falling ,i think it's great, could mean that young people who are struggling to get a home may at last have a chance.I am sick of people who mentally masterbate about the price of their houses, "Oh i paid 100,000 for it last year, this year it's worth 'oh 'oh 200,000 next year it coud be worth 300,000 AARGHH!.
A house used to be somewhere people lived as long as the roof doesent leak and there is no damp why don't they stop complaining.

 

[Bilioustrumpstaine]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is onl exploiting a 5th of its reserves

Phew! Thank Heaven for that. That's great news. Now give us the links so we can all rejoice.

Let me start you off.

http://www.moneyweek.com/file/19848/the-shocking-truth-about-north-sea-oil.html[/QUOTE]

That article is a glorified advert for money week magazine, it is about 2 yrs old and if you bothered to read it it is quoting that the north sea will not be producing oil by 2007.

Is that true ? have we stopped producing oil.

You should get a job in the newspaper industry.

Private Frazers Doom Column penned by joe

http://www.youtube.com/watch?v=nTr6oLFHnK0