Poll - What do YOU THINK the MPC should do on 7th Feb?

ds1980

ps please dont tell me the cricket score im watching the highlights!

Lotus-eater

ds1980 wrote: »

what regrets would i have......if (statistically) still alive from going to see the test match in australia, driving around the nurburgring in my ferrari, lumping £10k on red in vegas and having sex with the best hooker in the world?

Ok we lost the cricket, i should have took the lamborghini, maybe i could have gone a little longer, and darn it i should have bet on black................jesus i had fun doing it all though. will i pay it back? Maybe....maybe not but why would it matter to you? is my irresponsibilty going to affect you? Nope ill declare myself bankrupt and then do it all again! Not me you should be having a go at but the government for not safeguarding these eventualities in the first place. If there are cheap credit options then people will take them. Do they give a mokeys about what affects that will have on others? Much like do people care much about saving this planet from global warming? Will your recycling of two milk cartons a wekk do any difference.....nope. Enjoy life while you can buddy you might learn a little and learn to relax.:rotfl:

Now, this is just like the racehorse guy on R R R.
If the system is open there will always be those that find the loopholes in it. The loophole is, that you can spend loads and loads and loads, have a great time for a few years, then go bankrupt and not have to pay it back and why not? You would never have afforded those things in the first place, you will never have another chance, so whats stopping you.
See, this is the way many people think, not just younger ones, but old ones as well.

Its the ones that try to pay it all back that I feel sorry for, they've probably just got into it by being stupid, not actively going out to defraud the banks.

danm

ds1980 wrote: »

what regrets would i have......if (statistically) still alive from going to see the test match in australia, driving around the nurburgring in my ferrari, lumping £10k on red in vegas and having sex with the best hooker in the world?

Ok we lost the cricket, i should have took the lamborghini, maybe i could have gone a little longer, and darn it i should have bet on black................jesus i had fun doing it all though. will i pay it back? Maybe....maybe not but why would it matter to you? is my irresponsibilty going to affect you? Nope ill declare myself bankrupt and then do it all again! Not me you should be having a go at but the government for not safeguarding these eventualities in the first place. If there are cheap credit options then people will take them. Do they give a mokeys about what affects that will have on others? Much like do people care much about saving this planet from global warming? Will your recycling of two milk cartons a wekk do any difference.....nope. Enjoy life while you can buddy you might learn a little and learn to relax.:rotfl:

of course your irresponsibility will effect others.

Do you think that mortgage and credit cards companies hike rates and reject applications for the hell of it. Some of the recent mortgage rates hikes and declines in credit cards (egg anyone??) are because too many people have the attitude above.

at the end of the day someone has to pay, be it the banks and their sub-prime loses, be it in higher rates, be it that credit is now unavailable etc.

WTF?_2

ds1980 wrote: »

I ask a question and you fail to answer coming up with one of the most common replies in the book of " most common forum replies"

If you havn't read it its a good read

Goodness knows what you're trying to get at but I don't feel compelled to carry on a discourse with a loon on the internet who seems to be only interested in provoking some sort of a slanging match.

Arcaine

I think the BOE has actually made the right decision for once.
It is too early to say if inflation is really going to start stoking up this year. It may just be a blip for the first few months. I think it is more or less accepted that America is going into recession of some sorts. As a result I can see commodity prices falling, especially oil, as consumer spending collapses in the US. This will also have a marked effect on China as they will have to slow exports as the US stop buying. The US have already seen the largest increase in the oil & petrol reserves in 14 years. So I can see oil falling to the $65-$70 mark as long as they dont do something stupid like invade Iran.
I think the wait and see attitude is the correct one, to see if the fall-out from across the pond affects the UK. House prices are falling slightly at the moment, not crashing, and consumer spending is not falling rapidly so no-need to drastically reduce rates. I think the cut will help some of the million or so mortages coming off a fixed rate this year. It will also help the economy and busineses like the one I work for balance the slow down in consumer spending with exports to help maintain GDP.
A large rise 1-2%, as some seem to be suggesting here would result eventually in increased repossessions, falling house prices and a higher chance of the economy slipping into recession as consumers stop spending as disposable incomes get squeezed even tighter.

jamescredmond

!!!!!!? wrote: »

Goodness knows what you're trying to get at but I don't feel compelled to carry on a discourse with a loon on the internet who seems to be only interested in provoking some sort of a slanging match.

ah yes. it's getting a bit playgroundish - martin mentions something about etiquette..

here's my 2p worth-

I met a guy last summer. aged 23. getting married and looking to buy a 2 bed terraced on the poorer side of town. mortgage arranged by - wait for it - northern rock, at 6x salary. he understood the risks but was keen to set up home after marriage and get a toe-hold on the ladder.
he had done the calcs and found that he could just- just- afford it.

not for me to re-live the 80's crash but I did ask: what if int. rates hoof up?
his reply: then we're in trouble.

this was depressing.

I beleieve the rate drop is probably a good move. for the economy and especially for people like this guy.

but you have to ask: was this guy being irresponsible? or was it the bank offering a pretty ludicrous 6x salary product?

not sure what handle ds1980 has got on the debt thing. most of us are trying to get out of it!!

sorry ytf. most of us aspire to your poisition but your post re nil debt comes across ever so slightly smug.

WTF?_2

jamescredmond wrote: »

sorry ytf. most of us aspire to your poisition but your post re nil debt comes across ever so slightly smug.

It's just a statement of fact to counterbalance the assertion that we must all be in debt in the modern world. That's simply not the case, if you have a job it is perfectly possible to have a good standard of living and keep yourself out of debt if you live within your means.

I'm quite lucky to have been earning a good salary over the last 5-6 years (earned a very average one before that) but I know people who have earned much more than me who are up to their necks in debt. The difference is that I haven't borrowed to live a lifestyle far out of my reach. I haven't lived like a miser either - I've just been careful not to buy anything I couldn't afford from my available pool of cash savings.

The only people who have little choice but to get into debt are those on the breadline as they have next to no income. However regrettable that is, they only account for a small section of the population. Yet debt is a massive problem affecting many more people than just those on the margins. You just have to look around you to see why so many are in debt as many are clearly trying to emulate some sort of media-led 'celebrity' lifestyle on an ordinary salary.

jamescredmond

point taken but might be missed by ds1980

p.s err.. what exactly IS ds1980 doing on a moneysaving website?

WTF?_2

jamescredmond wrote: »

point taken but might be missed by ds1980

p.s err.. what exactly IS ds1980 doing on a moneysaving website?

Aaah - I think I'm getting it. ds1980 is up to his neck in debt and takes umbrage at anyone condemning his actions. Dammit - it's all the fault of the government who should protect people from making stupid decisions!

jamescredmond

don't use these boards to gratuitously contradict people but I'm sorry !!!!!!, you're absolutely wrong. wrong. again. wrong!

ds1980 appears to be a 20 something who hasn't got the ability to diiferentiate between personal responsibility and gov'mental liability.

but we sympathise. he's not alone.

and he doesn't blame gov. per se.

he just doesn't grasp the the inescapable fact that reneging on a commitment to settle debt is dis-honourable.
he doesn't understand that his actions inevitably impact on other borrowers.

It's not his fault that he hasn't analysed all of this.

it's yours.

and mine.

god bless him and keep him safe.