Making the news today....

[Johnsond]

The mortgage bomb about to explode under middle-class Britain

APPLE.NEWS

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From trophy life to unaffordable nightmare: how the mortgage-holder's dream collapsed

Whilst the case in hand is a tad on the extreme side I do wonder if the 6% will indeed be the disaster they say. The BOE seems to be a bit of a failed one trick pony on this, the actions they take seem to benefit only the banks etc and for me the interest rate rises are akin to a good old medieval bleeding, bring out the leeches as a treatment to cure all issues. 

[trigger_andy]

33 minutes ago, Johnsond said:

The mortgage bomb about to explode under middle-class Britain

APPLE.NEWS

---

From trophy life to unaffordable nightmare: how the mortgage-holder's dream collapsed

Whilst the case in hand is a tad on the extreme side I do wonder if the 6% will indeed be the disaster they say. The BOE seems to be a bit of a failed one trick pony on this, the actions they take seem to benefit only the banks etc and for me the interest rate rises are akin to a good old medieval bleeding, bring out the leeches as a treatment to cure all issues. 

Record inflation, crippling energy costs, wage increases under the rate of inflation so essentially a wage cut, taxation thresholds not increasing but wages rising (below the inflation rate) and now mortgage rates heading to 6% to cap it all off. It's going to be one hell of a shitshow. 

[donnk]

the bill for the idiotic lockdown is now due.

[doobin]

1 hour ago, donnk said:

the bill for the idiotic lockdown is now due.

That's small fry. This is the bill for kicking the can down the road and then keeping rates needlessly and shamelessly low for well over a decade following the 2008 banking crisis. And to top it off, we just imported cheaper goods and workers to keep us feeling rich. The over-leveraged should have been left to go to the wall, instead they were rewarded, more people were forced to join the Ponzi scheme to put a roof over their heads and now we are facing a seriously painful time.

 

Asset inflation has divided society. An average job doesn't pay for anywhere near a historical average standard of living, and those who work harder not only recieve a fraction of the lifestyle the same efforts would have afforded them a generation ago, but are taxed into oblivion. Meanwhile those with assets are barely taxed upon them.

 

Zero interest rates have destroyed this country. There's no way out without extreme pain or possibly even bloodshed. It really is that bad.

 

 

[Johnsond]

56 minutes ago, doobin said:

That's small fry. This is the bill for kicking the can down the road and then keeping rates needlessly and shamelessly low for well over a decade following the 2008 banking crisis. And to top it off, we just imported cheaper goods and workers to keep us feeling rich. The over-leveraged should have been left to go to the wall, instead they were rewarded, more people were forced to join the Ponzi scheme to put a roof over their heads and now we are facing a seriously painful time.

 

Asset inflation has divided society. An average job doesn't pay for anywhere near a historical average standard of living, and those who work harder not only recieve a fraction of the lifestyle the same efforts would have afforded them a generation ago, but are taxed into oblivion. Meanwhile those with assets are barely taxed upon them.

 

Zero interest rates have destroyed this country. There's no way out without extreme pain or possibly even bloodshed. It really is that bad.

 

 

I wouldn’t disagree with much of that other than the covid/small fry comparison. What is amazing is literally a few clicks on google will give a rough picture of where we are yet people seem to be oblivious to it or live under the illusion that the state will keep sorting them out. Us being in Debt suits many of the worlds biggest financial organisations just fine and dandy. 

[Will C]

6 hours ago, Johnsond said:

The mortgage bomb about to explode under middle-class Britain

APPLE.NEWS

---

From trophy life to unaffordable nightmare: how the mortgage-holder's dream collapsed

Whilst the case in hand is a tad on the extreme side I do wonder if the 6% will indeed be the disaster they say. The BOE seems to be a bit of a failed one trick pony on this, the actions they take seem to benefit only the banks etc and for me the interest rate rises are akin to a good old medieval bleeding, bring out the leeches as a treatment to cure all issues. 

I can’t read the article, would you be able to copy n paste for us Luddite’s that can’t get round the paywall and refuse to pay to read the news! 

[trigger_andy]

13 minutes ago, Will C said:

I can’t read the article, would you be able to copy n paste for us Luddite’s that can’t get round the paywall and refuse to pay to read the news! 

If you're using chrome download Postlight Reader. It removes the nonsense from more articles and most of the paywalls.

 

Or better yet use this website;  https://12ft.io Cosy copy/pasta the link into there.

Edited June 18, 2023 by trigger_andy

[scbk]

29 minutes ago, trigger_andy said:

If you're using chrome download Postlight Reader. It removes the nonsense from more articles and most of the paywalls.

 

Or better yet use this website;  https://12ft.io Cosy copy/pasta the link into there.

Does the 12ft ladder work for onlyfans?

 

Asking for a friend, like.

[trigger_andy]

Just now, scbk said:

Does the 12ft ladder work for onlyfans?

 

Asking for a friend, like.

Good question. I just catch the highlights on Celebrity Jihad. 

[Will C]

43 minutes ago, trigger_andy said:

If you're using chrome download Postlight Reader. It removes the nonsense from more articles and most of the paywalls.

 

Or better yet use this website;  https://12ft.io Cosy copy/pasta the link into there.

Cheers, every day is a school day. I will save that one