leviramsey Posted March 5, 2009 VT Supporter Share Posted March 5, 2009 Reducing interest rates won't do anything by themselves. But running the printing presses will generally increase incomes and thus get debt:income ratios back to sustainable levels. It's probably not as effective a solution as debt restructuring/bankruptcy, but it requires less work initially. Link to comment Share on other sites More sharing options...
ianrobo1 Posted March 5, 2009 Author Share Posted March 5, 2009 honestly can someone explain why these bad debts on a one off basis can not simply be written off ? they are worthless so say you print more money to buy them then how will the banks then use this money, if it is simply to steady their balance sheets then that will have no serious impact will it ? no idea why the BofE have reduced rates, pointless Link to comment Share on other sites More sharing options...
Gringo Posted March 5, 2009 Share Posted March 5, 2009 The rate cut will have no effect. A large majority of mortgage customers are on fixed rates and plenty of trackers are hitting their cuffs now. As it will have little or no effect on the supply of credit available at this point it would have been better holding this 'weapon' back.This is just plain silly now. In fact this is probably storing up problems for the future when (if) the recovery comes and inflation starts becoming an issue again. Link to comment Share on other sites More sharing options...
snowychap Posted March 5, 2009 Share Posted March 5, 2009 This is just plain silly now. In fact this is probably storing up problems for the future when (if) the recovery comes and inflation starts becoming an issue again. Wheelbarrows at the ready? :winkold: Link to comment Share on other sites More sharing options...
thetrees Posted March 5, 2009 Share Posted March 5, 2009 The riot season is nearly upon us. Attention overseas VTers. Don't book any trips to London in May Link to comment Share on other sites More sharing options...
Awol Posted March 5, 2009 Share Posted March 5, 2009 The riot season is nearly upon us. Attention overseas VTers. Don't book any trips to London in May You're kidding right? I wouldn't miss it! Rope? Check. V for Vendetta mask? Check. Whose who of Westminster(in colour)? Check. Guy Fawkes was a **** amateur. Link to comment Share on other sites More sharing options...
ianrobo1 Posted March 5, 2009 Author Share Posted March 5, 2009 well we know the amount being printed is 75bn which in relevant terms is quite low but listening to the shadow cheif sec Phillip Hammond on R5 he admitted from a Tory for the first time that whilst it was going ito the unknown it was measure the tories would have looked at in these 'exceptional circumstances' of course like Osbourne's comments today n alternative given Link to comment Share on other sites More sharing options...
snowychap Posted March 5, 2009 Share Posted March 5, 2009 well we know the amount being printed is 75bn The first step is that amount - the 'maximum' is £150 thousand million. That 'maximum' though is to always be under review according to Darling's letter, I believe. Link to comment Share on other sites More sharing options...
Awol Posted March 5, 2009 Share Posted March 5, 2009 well we know the amount being printed is 75bn The first step is that amount - the 'maximum' is £150 thousand million. That 'maximum' though is to always be under review according to Darling's letter, I believe. Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know. Link to comment Share on other sites More sharing options...
snowychap Posted March 5, 2009 Share Posted March 5, 2009 well we know the amount being printed is 75bn The first step is that amount - the 'maximum' is £150 thousand million. That 'maximum' though is to always be under review according to Darling's letter, I believe. Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know. :crylaugh: Link to comment Share on other sites More sharing options...
ianrobo1 Posted March 5, 2009 Author Share Posted March 5, 2009 yes and I am trying to get these figures into my head am I right in thinking that £75bn equates to just 50000 £150k mortgages total mortgages around 20 million, those figures show just how much debt is a cumalted and that is without buisness debt and personal loans Link to comment Share on other sites More sharing options...
drat01 Posted March 5, 2009 Share Posted March 5, 2009 Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ...... Link to comment Share on other sites More sharing options...
Awol Posted March 5, 2009 Share Posted March 5, 2009 Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ...... Says who? They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive. Link to comment Share on other sites More sharing options...
trimandson Posted March 5, 2009 Share Posted March 5, 2009 yes and I am trying to get these figures into my head am I right in thinking that £75bn equates to just 50000 £150k mortgages total mortgages around 20 million, those figures show just how much debt is a cumalted and that is without buisness debt and personal loans 1,000,000,000 is a billion, so it would be 500,000 not 50,000. Link to comment Share on other sites More sharing options...
ianrobo1 Posted March 5, 2009 Author Share Posted March 5, 2009 of course Trim, missed the zero but sill shows the massive amount of possible debt to come Link to comment Share on other sites More sharing options...
drat01 Posted March 5, 2009 Share Posted March 5, 2009 They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive Competent at being hypocrites? Competent at flagrantly getting round Tax laws? Competent at finding ways around laws on political donations? Competent at political point scoring? Competent at hating the working class? Competent at wanting to remove social safeguards like minimum wage? Link to comment Share on other sites More sharing options...
snowychap Posted March 5, 2009 Share Posted March 5, 2009 Probably dependent on whether Jacqui Smith needs to up her housing claim. It's an expensive business you know Surely you mean Julian Lewis .......ooops sorry we are not allowed to mention THAT party are we ...... By all means mention Dr Lewis - just be very. very careful what you say about him as he is, it appears, a very litigous person. As well as wanting to be very secretive about his expenses.... (that's correct as he was one of the people pushing for no publication of MPs' expenses). Link to comment Share on other sites More sharing options...
Awol Posted March 5, 2009 Share Posted March 5, 2009 They're all equally corrupt, the difference is the Tories are at least competent so it's easier to forgive Competent at being hypocrites? Competent at flagrantly getting round Tax laws? Competent at finding ways around laws on political donations? Competent at political point scoring? Competent at hating the working class? Competent at wanting to remove social safeguards like minimum wage? Ooh, I bet that felt good! Link to comment Share on other sites More sharing options...
trimandson Posted March 5, 2009 Share Posted March 5, 2009 And I don't care what happens, bonus day is 23rd, still heard nothing............... Link to comment Share on other sites More sharing options...
Xela Posted March 5, 2009 Share Posted March 5, 2009 And I don't care what happens, bonus day is 23rd, still heard nothing............... Work for a bank? HBOS? Link to comment Share on other sites More sharing options...
Recommended Posts