'I don't accept the mortgage meltdown thesis'

[antiestablishmentarian]

ANy guesses as to who the speaker of these words is, or what position he holds? Apparently Lenny (yes it was him) reckons that there won't be a mortgage collapse as the economy begins to pick up (around the corner we've just turned) and that as stabilisation of unemployment has happened, it's less likely that there will be mass default on mortgages- apparently forgetting that as unemployment remains high peoples savings will rapidly deplete. Is it time to take samples of the water from the Leinster House taps to see what's in it??? The banks haven't moved in to evict many defaulters yet: as they find it harder to raise capital though I think it's only a matter of time before repossessions go through the roof.

http://www.breakingnews.ie/ireland/lenihan-not-worried-about-potential-mortgage-meltdown-485618.html#ixzz185TWDsrJ


Anglo Irish Bank boss Alan Dukes has said that the €35bn fund for the banks will not be enough.

However, Minister Lenihan disagrees, saying he took advice from the governor of the Central Bank.

Minister Lenihan claims that as the economy improves, less people will be defaulting on their mortgages.

"The first point to make about mortgage defaults is that it tends to correlate very closely to unemployment," he said. "Unemployment has stabilised.

Read more: http://www.breakingnews.ie/ireland/lenihan-not-worried-about-potential-mortgage-meltdown-485618.html#ixzz1808ei4ui

[wickedfairy]

the lunatics are in charge of the asylum alright. Now where did I put my passport?

[morticia]

the lunatics are in charge of the asylum alright. Now where did I put my passport?

Ah yes, but where to?? Sure the spreads on German and US bonds are rising while the UK's RPI inflation rate is over 4 % and their glorious leaders have just adopted Plan Brian 2.1 (austerity max).......

Is anywhere safe??

Now might be a good time to be abducted by aliens.....

[wickedfairy]

Ah yes, but where to?? Sure the spreads on German and US bonds are rising while the UK's RPI inflation rate is over 4 % and their glorious leaders have just adopted Plan Brian 2.1 (austerity max).......

Is anywhere safe??

Now might be a good time to be abducted by aliens.....

I am beginning to think the aliens landed a long time ago Morticia and morphed into the Bilderberg Group or the inter Alpha Group or something ;);)

[TotalMayhem]

I am beginning to think the aliens landed a long time ago Morticia and morphed into the Bilderberg Group or the inter Alpha Group or something ;);)

Is that you, David? :D

[matt]

ANy guesses as to who the speaker of these words is, or what position he holds? Apparently Lenny (yes it was him) reckons that there won't be a mortgage collapse as the economy begins to pick up (around the corner we've just turned) and that as stabilisation of unemployment has happened, it's less likely that there will be mass default on mortgages- apparently forgetting that as unemployment remains high peoples savings will rapidly deplete. Is it time to take samples of the water from the Leinster House taps to see what's in it??? The banks haven't moved in to evict many defaulters yet


Strange that the number of people in employment continues to fall in evident contradiction of the marginal fall in unemployment - Fás courses (sans qualification) providing some small use for govt. spin, doubtless.

Unemployment has by no means stabilised. And what does the daft f*cker think was achieved by his IMF/EU-sponsored wage-erosion legislation ? Chip away at the foundation stone that is the minimum wage and the effect will certainly be -as it was intended to be - an inevitable subsidence of earnings generally. But what do you think that is going to do to the half of the country that are in terminal debt, Lenihan, you evil c*nt ?
We urgently need to orchestrate a deliberate and mass mortgage default - to force a write-off of at least thirty percent of people's motgage debt; perhaps more (down to current market values for those who bought within the last decade). The rental 'industry' needs to be controlled, too. Rents are still largley tax payer-subsidised; so it's all going to the banks that are in some kind of fictional public ownership - it's like a forced contact; 'Here - this is now yours; but we will be expecting your weekly contributions with extreme prejudice' - like those poxy old mail-order book-clubs, but without even the nominal acceptance they operated by.

Brian-damage can only be playing to the international observers with this one, but I think money-men generally are imune to his spin.

[charley]

The state is paying rent supplement on 95,000 houses this will run out soon and the false rental floor that this creates will be gone.People who bought to rent will be unable to get enough rent for their property to cover the mortgage. Lenihan's belief that these people won't say "******* this for a game of soldiers" are way off mark. Lots will just cut their losses and throw back the keys and the banks have little hope of selling these on. I know of houses that are entering their fourth year with 'for sale' signs on them.
They defaults and the repossessions are coming. I guess sometime late 2011

[morticia]

Lenihan's belief that these people won't say "******* this for a game of soldiers" are way off mark. Lots will just cut their losses and throw back the keys and the banks have little hope of selling these on. I know of houses that are entering their fourth year with 'for sale' signs on them.
They defaults and the repossessions are coming. I guess sometime late 2011.

And for five to six years thereafter. I'd see an eventual solution though; those who can't afford will default and peak oil/commodities will send inflation skyrocketing sooner or later.... if massive QE doesn't get in there first.

As I have said for ages, one of the big boys (US, UK, France, Germany, China, Japan) needs to look very shaky; once the non-PIIGS "too big to fail" brigade start going down, something will be done for EVERYONE. I have great hopes for the Tories austerity programme in combination with ours. Both countries have overlapping banking systems and tottering property markets.....the UK has inflation, a few nasty wars and a credit card addicted population, while we have our loverly banks and both have a mortgage problem.....I'd suspect this cauldron to be on the boil by end 2011.... sooner if US bond spreads keep rising.

People need a plan though; anyone who's been working on a debt forgiveness plan that is ready to implement quickly could well get their oar in there if they're aware of when to pounce. Are ye listening, Burton/Bruton/Adams??

[wickedfairy]

Is that you, David? :D

:D:D

[wickedfairy]

Is that you, David? :D

not good quality but very informative

YouTube - WHO REALLY ARE THE ROTHSCHILD FAMILY?