Is it on for the downside in 2010?

its all going to sh1t. u know it. i know it. everyone knows it (except chisel)

If Brown wins again or there is a hung parliament then id say the UK is odds on for a sovereign debt crisis in 2010.
If Cameron wins big the he may delay this but the greed and selfishness of the UK population coupled with the fact i think he will make a weak leader mean that sufficient cuts will not be made and the path to ruin will be merely delayed not avoided.

Comical chisel will still be talking the housing market up as they carry his chair out into the street and put the for sale sign up on his Estate Agency.

I think Harry calls it right.

Chisel won't be happy until you get paid to borrow money.

He thinks that's how an economy thrives.

As Adam Smith said 'there's a lot of ruin in a nation'.

We might be 'bankrupt' as a nation, but to complete the final curtain call, someone has to pull the rug from under us. It's in nobody's interest to force us into a default situation, as those holding the paper get nothing. More likely is the slow long drawn out scenario with creditors taking every opportunity to pass on our debt. So that's more erosion of the currency, more bottom feeding of picking up UK assets, at knockdown prices, more inflation as essential imports rise, more financial woes, as maybe, the defined benefit pension schemes finally hit the buffers and implodes.

The 'good news' is we are not alone. There are other countries in similarly precarious positions, so maybe the world order might just 'gentley' change. We may end up with a three tier system, with resource rich countries rising up the pecking order (Australia and Canada maybe), and heavy resource importers slipping down the league table (the industrialised World). The poor nations? - just getting poorer.

Surprise , Surprise!!

I hope your anti depressants are working well guys.. For teh record people are continuing to buy properties , even at this time of year, and priecs are increasing , as evry property that hits the market seems to get some interest.

I disagree with you !! Next year will be more of the same. The banks seem to be able to do without further government money and appear to be able to lend again. rates will stay low for forseeable future. Labour market will be testing in 2010, however I expect a feel good year as we come out of recession, have a change of government, win the world cup, etc etc.

One more thing. London and the South East and south Middle are likely to fare better than other parts of the country; Fo that reason some areas will thrive whilst other struggle

Not every thread is about house prices chisel Why not join this discussion ?

Harry

If house prices are stable the economy is stable. That is a fact of life in the UK

Banks, that are the cause of this Recession/Credit Crunch are more likely to survive with a robust housing market. That is absolutely clear . Banks predicting losses , put a side tens of millions of pounds to cover the losses. The losses have simply not materialised. The recent press release about people in arrears with their mortgage falling, Repossessions of 14000 for the most recent 3 month period are nowhere near as bad as feared.

chisel - For teh record people are continuing to buy properties , even at this time of year, and priecs are increasing , as evry property that hits the market seems to get some interest.

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if prices increase, that usually means the buyer has to borrow more.

this country got in a mess because people borrowed too much/banks lent irresponsibly. so the govt solution is - print money so that people can borrow more! its frighteneing, it really is. in 5-10 yrs time, we could be looking back on this decision to rely on QE to get us out, as we now look back on brown flogging our gold for 2 bob and a bag of marbles.

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as for the downside 2010 - one poster made a very good point about the general election. if brown, by some miracle wins, then it really is good nite nurse. if cameron cops then he is gonna have to be something special to clean up the mess. imagine, all yr life having the dream of becoming prime minister, and then getting the job, with the country effectively bankrupt and ruined.
i quite like the look of canada and australia, for the reasons previously mentioned, and china.

i can just imagine, in 20 yrs time, my grandchildren making nike football boots for the chinese markets and getting paid in happy meals.

"If house prices are stable the economy is stable. That is a fact of life in the UK" If anyone else had posted such stupidity id have bet 1-100 it was fishing but with you I can never be sure.

As the people make a dash for assets behold the eighth wonder of the world. Ladies and gentlemen I give you chisel.

chisel 15 Dec 15:40
Harry

If house prices are stable the economy is stable. That is a fact of life in the UK

I don't think so! More Chisel waffle.

House prices have been stable enough for the last 10 months, are you telling me this is a stable economy?

he has a truely special gift for talking out his @rse.

Once again he gets attacked for not been a pessimist. Half you who are on his case offer very little argument to support the opposite, and at least he puts his views foward in a constructive manner. I think many of you should take a resolution to lay off him and try and post something constructive yourselves.

Happy xmas

Wrong. He gets attacked for posting something which is ridiculous as I expect he knows full well.

today thurs 17th dec 2009 gold has a high of 1142 and is now 1120, the euro is down almost 200 pips, the aussie dollar is down 130 pips.Yet the dow futures are off only 50 points.Is this a sign that collapse is imminent? Will gold fall below 1000$? Is the euro headed back below 130? The aussie below 70?
The bell is now tolling on the titanic.