I totally agree with you there...i was watching a program about wakefield the other day, now from what i've heard its a shit hole, but you've got terrist houses selling at 130,000 < from one source also at 200,000 < from another source of info...the area apparently isn't nice, but house prices have risen there in the last year by 30% and its only because its by the M62 i think one of the main motorways and the M1 i think not sure of the roads, most of the people living in the more splendid accomodation are those who commute.
Doesn't that figure shock you though £783,000,000,000 Britains morgage debt? Fucking hell (i say in a mock cockney accent)
Before i read that article i have been preaching that the bank of england should raise interest rates. They can't do it now because it is too unstable, even if interest rates rose by a couple of per cent for instance this could fuck a family up who say for example has a morgage of say £150,000 and who are earning an over the average wage of say £24,000 a year! unfortunately there are many families in this situation.
Low interest rates are very dangerous, it encourages people to borrow more and more money, theres nothing wrong with that if wages were rising but in effect people are taking pay cuts as inflation kicks in because interests rates are only rising by 3%...
Martin Ellis from the Halifax says that "theres nothing to worry about" his reasoning for this is because unemployment is at an all time low, interests rates are low, and supply is tight...he is as blind as a bat, I as an amatuer have proved this man to be wrong, supply is only tight because people are buying shit on credit card...he fails to mention the governments deficit budget debt, most of the collected tax money goes abroad...
when and if the economy should fall, it'll only be the beginning of Britains troubles, it'll be the catalyst of something big, britain will be left valunerable to terrorist attacks and shit....
Sorry...i have been reading to many books.
_________________ ...my hand too will hold a sword. If i am defeated, my enemies shall never glut their vengeance on my living flesh.
Exit Electra
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