My Bankruptcy

ZTD

Haven't some posts disappeared from here, or is it just me?

Pobby

ZTD wrote:

Well your problems are a sign as well. According to Gov stats, we've never had it so good. Economic growth for longer than the eye can see. Generationally low unemployment.

Lenders have always lent. Interest rates and repayments are enshrined back at least 4,000 years to the Babylonians.

Borrowers have always borrowed. Some have always borrowed too much. But not record breaking numbers of them.

So why are so many people - such as yourself - going bankrupt? Not just a few, but a record-breaking amount.

Maybe, just maybe, things aren't as good as advertised. And maybe people are making decisions based on what they're told, and are then finding out the reality is somewhat different.

The only questions to ask are: What is the reality? How bad can it get from here?

So ZTD do you think that we are being lied to?It certainly is looking that way to me!

Mike_St_Helens

ZTD wrote:

Haven't some posts disappeared from here, or is it just me?

Its probably the Government censoring us and knowing the the truth has been uncovered....

Pobby

The internet police have struck again!!!!!!!!!!!!!!!!!!!!!!

was_bankrupt

I think it's an extremely good point - Why are so many people becoming insolvent and having properties repossessed????

Pobby

Was-bankrupt----good point.I think there are a pile of reasons why the wheels have started to fall off.Where to start?

1] Some people think that there are still a lot of capital gains to be had in property,I know one or two myself,who have jumped in near the top of the market and are paying huge interest only mortgages.
2]People with a lot of debt loosing there jobs.
3]Couples splitting up.
4]Being already struggling,being hit with council tax rises and higher fuel charges.
5]How easy to take the bky option.
There are a load more points I could make

---

but just for starters.Any one else like to fire in a few more reasons?

ZTD

Well there's this for propagating the mania.

And this for when the mania ends.

As for the 'why's. Greed and wishful thinking. The madness of crowds. Same thing as throughout history.

This is not a unique occurance. It just remains to be seen how bad the bust gets.

Pobby

ztd I am gob smacked at both those articles!

Emmzi

ZTD wrote:

Well there's this for propagating the mania.

And this for when the mania ends.

As for the 'why's. Greed and wishful thinking. The madness of crowds. Same thing as throughout history.

This is not a unique occurance. It just remains to be seen how bad the bust gets.

Excellent site, ZTD. Bookmarked

ZTD

Pobby wrote:

So ZTD do you think that we are being lied to?It certainly is looking that way to me!

Well this is a graph of Retail Price Index against M0 (coins and notes) - taken from the BoE website. As you can see there is a correlation between the two. (Yes I know it only goes up to 2004 - I did this a while ago. You can do this yourself if you want - figures for 2005 are probably out now.)

Then suddenly in 1992 it all changed. Again there is a correlation between M0 and the price index - but a different one.

Using the trend line from the pre-1992 stuff would indicate the retail price index is under reported by about 40%, or put another way, YOY inflation is about 1/3 ( 0.008/0.028) of what it should be.

Inflation figures are used to "top up" pensions - to keep up with the cost of living. If pensions truly did keep up with the cost of living, then pensioners wouldn't need "Winter fuel allowance", just like they never needed it in the past when winters were arguably colder and longer.

So yes - I do think we're being lied to.