More subprime lending trouble

Harchibald said:

The Anglo Saxon model is all wrong. Ordinary people should be renting their accommodation from either the State or institutions.

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And what about non-ordinary people? Will they be allowed buy their own houses or will they also have to avail of socialised housing? How will you decide who falls into what group? Wealth? Political connections? An IQ test? Random lottery?

Harchibald said:

The continentals have it right. You never here of property bubbles in Germany or France.

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Ask a Parisian what they think of property prices there. If Germany has "missed out" on the housing bubble of this decade it's because they are still feeling the hangover from the previous decade.

yob said:

just had a read over this thread,mmmmmmm so how is everybody doing,what about you HOWITZER,every dog in the street and all that.....and room305,what say you,
love your opinions on where we go from here.

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To quote Churchill :

"It is not even the beginning of the end. But it is, perhaps, the end of the beginning".

I THINKS YOU'VE HIT THE NAIL ON THE HEAD,i wish you good hunting,but not all agree.

Murt10 said:

....... Looks like we're not out of the woods yet, not by a long shot.


Murt


mod=home_whats_news_us?mod=djemalert[/url]

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And the carnage continues.....

(Edit) From the NY Times


"Mortgage Fears Depress Global Shares

By CHARLES DUHIGG and DAVID JOLLY
Published: July 9, 2008
NEW YORK — As U.S. home prices decline and Washington struggles to end the economic malaise, Wall Street is starting to send a sobering message: The worst is yet to come....."


http://www.nytimes.com/2008/07/09/b...6180800&en=3617bfe95412c70f&ei=5070&emc=eta-1


Murt

Nouriel Roubini, of NYU's Stern School and RGE Monitor, whose alarming predictions about the housing market and finanical system have been coming to pass with alarming frequqency predicts another 20 Percent Stock Drop

[broken link removed] (Speakers needed)

A long way to go yet lads


Murt

I remember posting this video late 2007 when we were all wondering what was happening with the World Banks and what it was going to mean to us and where it would all end...Watch it now ?!!!
It takes about 15 secs to load and is about 47mins long but it is worth the time...
I am reposting it again because it is no longer on the original link I posted..
WATCH IT ????
[broken link removed]