New Statesman: 'Crash: The housing crisis is just beginning'

pickles110564

PasturesNew wrote: »

pfft. As if. I'm not the huggy type.
I don't know how to do that whole touchy feely thing. It petrifies me.

Shame :blushing:

ianmr65

ianmr65 wrote: »

As the 'wealth disappears' (quote a Mr G Soros), so will employment sharpley, and all hell will break loose.

Sorry to quote myself but it's not often i'm completly spot on!!:T :T

From todays FT:

US unemployment rises at fastest since 1986

"The US unemployment rate increased at the fastest rate in 22 years in May as companies cut jobs for a fifth consecutive month in the face of a slowing economy and spiralling energy costs.
Employers laid off 49,000 workers last month, after a revised decline of 28,000 jobs in April. The unemployment rate jumped by half a percentage point to 5.5 per cent, the biggest increase since 1986, and the highest jobless rate since October 2004.

Although economists were expecting some renewed deterioration in the payrolls data, the sharp spike in unemployment took most analysts by surprise. (my highlight!!) "

http://www.ft.com/cms/s/0/dca3143c-33c7-11dd-869b-0000779fd2ac.html?nclick_check=1


for the full article...

Cue: "All hell breaking loose"

ianmr65

Mandark wrote: »

So, as long as we don't start to suffer mass redundancies, I believe that it's still possible for those who are cash rich and those who have easily manageable debt to keep spending and keep the economy going at a reasonable level.

See above my post above, when the US catches a cold, the UK get's pneumonia!!

ianmr65

!!!!!!? wrote: »

.

Maybe there is something to be said for shoeboxes full of cash under the bed.

Not sure about that !!!!!!.. the recived wisdom is to have goverment gilts. however i don't trust the fed, nor the BoE..

I think you're better of with 20% or so in gold bullion. Stuff you can bury somewhere in the garden. And your savings in an overseas bank. Mortgage with a uk building soc, and current account with a uk bank.

Spead the risk.

Oh and lots of razor wire.