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Public don't understand how bad the economic crisis is

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posted on May, 21 2011 @ 11:05 AM
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Public don't understand how bad the economic crisis is, warns Vince Cable



te legraph.co.uk


In an interview with The Guardian, he said that the public needed to understand just how "painful" the coming period would be as the Government grappled with the UK's record budget deficit. He said Britain was no longer a "price-setter" in world markets, and that the Government needed to work harder to explain the economic realities to the public.


Very much understating the immense changes about to happen. Fact is the USA and EU are already dead in the water and even WW3 wont save our economies.

edit on 21-5-2011 by UcDat because: (no reason given)




posted on May, 21 2011 @ 11:10 AM
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Good! They don't need to know, the less of them that are aware, the better.



posted on May, 21 2011 @ 11:12 AM
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Originally posted by Rockdisjoint
Good! They don't need to know, the less of them that are aware, the better.


now what kind of claim is that? who you working for? lol



posted on May, 21 2011 @ 11:13 AM
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reply to post by UcDat
 


The wealthiest and even the upper middle classes probably do not have a clue or feel the pinch but then it doesn't affect them as much. I happen to know many low income families who know first hand how serious this economic crisis is. They are getting thinner.



posted on May, 21 2011 @ 11:15 AM
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If we pray to Israel, she will protect us.




















posted on May, 21 2011 @ 11:30 AM
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No. I refuse to believe that. WW3 can save us. No! Don't try to take away people's aspiration for WW3. WW3 can save us!



posted on May, 21 2011 @ 11:38 AM
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reply to post by UcDat
 


Someone please tell me if the economy is so bad why is it the rental prices have gone up and not down in metropolitan areas? (sales prices are worse) Is it because they are under water in their mortgages too, because I am not going to rent from someone who is under water and end up evicted cause the idiot gets foreclosed on!!!!
As a potential renter do I have rights to ask to see their loan paper work to find out if they are under water? If they aren't and the economy is so bad why are they charging close to $3,000 for a 3 bedroom home like we rented only 6 years ago (in the same area) for $1,200?

I see no housing prices going down and don't bother posting home prices in depressed ecnomic areas like Detroit where there aren't any jobs...I am talking the major job hubs metropolitan areas and there prices have been steadily on the cimb as if nothin has happened... So I say it's all BS buy a house now, make an investment!!!! YEAH and lose your A&& in the process!!!!



posted on May, 21 2011 @ 11:44 AM
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The sad fact is that it would be nowhere near as painful for us all, if they would share some of the pain with the rest of us.



posted on May, 21 2011 @ 11:45 AM
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housing prices are high in heavily populated areas because of supply and demand. There are too many people, not enough space to live. Car insurance is also more expensive in high populated areas because they want to limit the number of cars on the streets. Economics is all about balance.

The US gov't can continue to dig itself into debt and not have to worry. As long as the politicians do what the international banks tell them to do, such as using the US military to do its dirty work.



posted on May, 21 2011 @ 12:10 PM
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reply to post by ldyserenity
 

Idyserenity
To answer your about rental costs being much more higher than before then Yes, I think your point about the owners of those homes being 'under pressure' with their payments is very true.....

Being in the UK the housing market is even more radical than yours in the USA but people either don't see it yet or they don't want to see it at all.....

A few years ago almost no one thought it was possible for British house prices to fall. Last year,16% thought they might. Now that number has risen to 42% whilst 11% think prices will rise ???? d'oh
You might wonder how the latter group could think this BUT Halifax Bank (big mortgage bank) says it is currently cheaper to buy a house rather than rent. Also there are those who think buy-to-let will currently yield 6-7%....
These are both RED HERRINGS...
The Halifax DO NOT factor in low interest rates. In normal times the base rate is 2-3% and currently with Inflation over 4%, that would make the rate nearer 6-7%. Mortgage rates are usually set a few percent higher still, so think 9-10% should be the figures today !!!!!
Yet due to the Bank of England pursueing a low rate policy to deal with the financial crisis, the base rate is 0.5%.
The current average new mortgage rate for new borrowers is 3.6%.
The cost of the average monthly payment has fallen by 40% in the last two years alone.......When that changes - and it Will- buying will become a lot more expensive than renting again....
With regard to yields on buy-to-lets then again they are currently artificial and in fact when adjusted for inflation they are nearer 3% , no where near the 8-9% that makes it worthwhile !!

The whole thing is just so out of step and values are still TOO high for houses but people still think they are worth what they paid for them a few years ago............ soon there will be a crushing reality for some...

I also do think it is in your interests to talk about the financial stability of the house owner....... I think it shows a sense of purpose and initiative which a Genuine house owner should appreciate....
Regards

PDUK



posted on May, 21 2011 @ 03:20 PM
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Originally posted by avatar01
housing prices are high in heavily populated areas because of supply and demand. There are too many people, not enough space to live. Car insurance is also more expensive in high populated areas because they want to limit the number of cars on the streets. Economics is all about balance.

The US gov't can continue to dig itself into debt and not have to worry. As long as the politicians do what the international banks tell them to do, such as using the US military to do its dirty work.


nope the big banks and the powers behind them are all but done with us we will be crushed by their new communist friends...
sorry but hey its been a good run for us just feel bad for my kids



posted on May, 21 2011 @ 03:20 PM
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Originally posted by Jepic
No. I refuse to believe that. WW3 can save us. No! Don't try to take away people's aspiration for WW3. WW3 can save us!


WW3 will destroy us.



posted on May, 21 2011 @ 11:09 PM
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Originally posted by Segador

Originally posted by Jepic
No. I refuse to believe that. WW3 can save us. No! Don't try to take away people's aspiration for WW3. WW3 can save us!


WW3 will destroy us.


most of ya and enslave whatever survives to them even more


happy happy joy joy



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