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Wednesday 3rd December 2008 Make us your HOME PAGE  What is RSS?
 
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ARTICLE SUMMARY

New hope for end to slump

THE country began its recovery from the credit crunch last night as the economy showed the first significant signs of improving.

A BIT OF EDUCATION FOR THE PEOPLE PT 2!

18.05.08, 1:02pm

And lurking behind the subprime crisis is the spectre of negative equity. City economists have been making increasingly bleak predictions about house prices which have now fallen for five months. A note by ABN AMRO, the investment bank, said — I quote for its full gore — ‘The UK looks more vulnerable to a housing correction than the US. The degree of overvaluation looks more acute, nearing 50 per cent in the UK compared with 25 per cent in the US. The ‘prosperity’ which Gordon Brown has boasted about for the last 11 years was bought on the never-never, a ‘golden age’ on tick. Householders were encouraged to borrow against their inflated house prices — with euphemistic phrases, like ‘equity withdrawal’, making such transactions sound like a visit to a cashpoint. Now, the ten-year debt binge is ending in the hangover which, with each morning’s headlines, becomes that bit more painful. Let’s spell it out: British households are not just more indebted than their counterparts in America, but more than in any other western European or G7 economy.

• Posted by: Serious • Report Comment

A BIT OF EDUCATION FOR THE PEOPLE!

18.05.08, 12:50pm

Britains housing boom has been one of the biggest in the western world and it is highly likely that once the dust settles in some 2-3 years time, it will turn out to be one of the biggest housing busts in the west. The Housing bust of 2008 will be followed by a sharp slow down in economic activity during 2009 towards recession.
“Merrill's figures were worse than expected. People are now immune to the numbers because they know there is worse to come.”

• Posted by: Serious • Report Comment

JUST TYPE THIS IN THIS WEB ADDRESS

17.05.08, 7:39pm

Below is the Express article on it all being good in March. Just copy & paste it into your web address.

http://www.dailyexpress.co.uk/posts/view/39552

To have an article headed "New hope for end to slump" don't you need to report a slump first. You just want to keep writing its all ok. But its not. Just look at all the other news papers, TV news etc. Your the only paper saying its ok. You can't just stick your head in the sand & pretend its all going to go away.

• Posted by: ChrisMoy • Report Comment

HANG ON A MINUTE.

17.05.08, 7:22pm

Didn't you guys say that there was no slump, crash thing going on at all. So whats the good news. I thought it was all ok. You really need to get your story straight. Not just make it up to suit your needs. This isn't news.... Is it. Just check out the BBC website for the real story.

• Posted by: ChrisMoy • Report Comment

THE IMPROVING REGRESSIVE.

17.05.08, 6:38pm

Much as I respect the 'Express' for all it stands for, I was disappointed with his article. For sure everyone and his dog will be trying to negate out as many bad effects as possible from this slump/depression/political bad management, but it's going to take time and bloodletting. Hey!! I appreciate optimism llike any positive thinking guy - but dish out the news as you know to be realistic.

• Posted by: bluenote • Report Comment

MAN EATS HAMSTER

17.05.08, 5:27pm

I have seen a few headlines in my time but this one takes the biscuit. Despite all the clear evidence of imminent stagflation and an imminent economic slowdown, the Express maintains that the "slump" has not only already arrived but is now rapidly going away! Well I must have missed it. Lucky old me! If the Express is hardup for a headline there are a few I might suggest eg "Savage Murderer Walks Out of Open Prison" or "Speaker Martin Should Resign". I agree absolutely that we should not talk ourselves into a recession but this kind of day-dreaming by desperate optimists is not going to help anyone.

• Posted by: panadero • Report Comment

HAVE I MISSED SOMETHING?

17.05.08, 2:14pm

This piece is certainly the most blatant piece of Estate Agent spin that I have read during the current crisis.

The thirty or so estate agents businesses closing each week obviously wear a different shade of rose tinted specs.

There is little doubt that the Stock Market will follow the US and probably be down by 50% this time next year.

• Posted by: Willum • Report Comment

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ILLITERATE AND IRRESPONSIBLE

17.05.08, 2:13pm

The Express should be ashamed. This article is damagingly illiterate. Far from “new hope for end of the slump” the real impact of the “Credit Crunch” has yet to be felt. Economic triggers such as the credit crunch take time to work into the real economy. The resultant tightening of credit has started to reduce house prices and will begin to hit the high street over the summer. The crash in the value of the pound is frightening and will both squeeze consumption and accelerate inflation. Employment has yet to be dented and stands at the highest ever, but watch the next twelve months as demand begins to fall. “Over” get real it hasn’t started.

• Posted by: BillG • Report Comment

IS THIS A JOKE?

17.05.08, 1:41pm

To quote the magnificent Mr McEnroe 'YOU CANNOT BE SERIOUS!'

• Posted by: BagginsAtSea • Report Comment

NOSTALGIA!

17.05.08, 1:32pm

Ever since I was young I have lived in a house

• Posted by: Mick_Carthy • Report Comment

FOLLOWING ON...

17.05.08, 1:26pm

Following on from my previous comment.
"It coincided with impressive annual results from companies such as British Airways, which announced profits up 44 per cent to £680million after tax".

Funny how in the Times it says

The board of British Airways has been forced to assess the impact of a possible £900 million reduction in profits this year caused by the rising price of oil

Please explain Mr Evans. What you have written is not even slightly innacurate is it?

• Posted by: Warwick • Report Comment

ESTATE AGENTS?

17.05.08, 1:22pm

George Bush doesn't care about Estate Agents

• Posted by: Mick_Carthy • Report Comment

UNBELIEVABLE....!

17.05.08, 1:14pm

Martin Evans - you should be thoroughly ashamed of yorself. This has to be one of the most outrageously innacurate articles ever. I suggest that you check your facts about British Airways as you are so wrong. And how do you always manage to wheel out some inept estate agent who nearly talks as much rot as you? Totally misleading .How much did Mcbroon pay you to write such drivvle? You idiot!!

• Posted by: Warwick • Report Comment

HAVING YOUR SAY

17.05.08, 12:53pm

What a sad bitter bunch you all are, this must be the cups half empty association making comments - check the map for directions to Beeahy Head. Signs of a recovery - good thing.

• Posted by: dhaysom • Report Comment

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NEW HOPE SOMEONES HAVING LAUGH

17.05.08, 12:05pm

The stock market is doing what it always does.Shares look cheap so traders buy.Joe public thinks oh Ill buy a few of them.Trader takes his profit and sells.In the words of Jim Royal upturn my xxse

• Posted by: retiredmale • Report Comment

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