EddScott

My boss against better judgement of just about anyone got himself involved with a fledging airline which never even got off the ground. The people behind it talk about the idea being in "Hibernation" but its pretty obvious that any money put into the project has long gone.

Things have indeed improved in the stock markets and house purchasing but as far as I can see these are the only two areas that have seen positives. The FTSE has moved very quick up and the more I hear of people saying its a false recovery the more I'm starting to believe it.

I'd avoid the stock market for a bit. Is not worth the risk of it dropping like a stone between now and Christmas which it may do. If it does keep going up well its the call I made on the day and I'll wait for the next swing.

As mentioned above its all gravy until interest rates go back up. Guaranteed some people with low mortgage rates will have gone out and blown the difference on a big loan for a cheap car or other splurge. Also guaranteed they'll be people who will have taken out mortgages then not be able to cope (again) when interest rates get to 4% let alone the doom and gloom double figures some talked of.

The banks must be laughing the ar5ses off. Screw up and the government bails you out. Then the government puts pressure on the BoE and they drop rates to .5%. The banks still get their 5% - 12% on loans and mortgages. Is it any wonder the banks are making more money now than ever with that ratio? They are also getting away with huge jobs cuts and claiming its neccessary for survival.

IF the government has its head in the right place, it will keep interest rates very low. Allow the banks to continue to be difficult with loans and mortgages and make good on its investment in the banks. As soon as rates begin to go up the "recovery" will freefall.

I've got the week off BTW hence the waffle.

Leslie

I can't see that our GNP will be good enough to pay off all the interest charges from such an enormous national debt as well as some of the debt off. We have other debts as well of course and the only way apart from getting rid of all the dead wood managers etc in the enormous beaurocracy and all the quango's as Flash promised he would do instead of actually increasing them, etc. etc., the only way for them to get the cash is off us as ever in large tax increases as well as having to cope with the coming inflation.

Les

jjones

seems you were talking out your **** again Pete

BBC NEWS | Business | Economy shrinks less than thought

Simon 69

Again? Has he done it before then?

SunnySideUp

0.7% ... that can be lost in the Tolerances of the figures ... we all know there is nothing to worry about - even if there ever was!

Janspeed

iTrader: (1)

Best be choosing the colour for my new 200 foot yacht!

SunnySideUp

If you can afford one, and you want one, do it

Janspeed

iTrader: (1)

Yeahhhhhhhhh, not really though!

SunnySideUp

Awwwwwww, I was going to ask you for a voyage ....

Janspeed

iTrader: (1)

Haha! I would have a full female crew, so it would be interesting!

SunnySideUp

I'm too old to worry them!!

tanyatriangles

iTrader: (2)

TBH, we need to look at what Obama has said.........he says he's not satisfied that the recession is over until people stop losing their jobs.

With Labour ADMITTING 2.5 MILLION unemployed, the real figure is nearer 5 million and that's recession.

Never mind a small upturn in house prices, the economy underpinned by high house prices was what brought us to this level.

Look at the JOBS situation, outside the affluent South-East, then tell me if we are still in recession or not.

fatscoobfella1

iTrader: (1)

Real figure is closer to 10 million...

Some 1.89million of the current total are students, 2.35million are carers for elderly relatives or stayat home mothers, and 2.04million are on long-term sickness.
A further 198,000 are on temporary sickness leave, 619,000 have retired early and 35,000 are classed as 'discouraged workers', meaning they are not interested in finding work.

SunnySideUp

You may find, if you look closely, that irresponsible lending brought us to where we are today ...... house price rises were a side effect to that lending.

Leslie

Yes i agree, weren't the bankers selling mortages to anyone regardless even allowing self statements of salaries etc so that they could get the commission for selling the duff mortgages?

Les

SunnySideUp

Yes, Les ...

But it wasn't just Mortgages ... it was Car Loans and Loans for TV's and suchlike ... given to those who haven't got 2 brain cells to rub together IMO

Leslie

Yes ok, must be a few in real trouble now then!

Les