UK Karting - Notice Board (Chat) : Re: Will

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Re: Will
Posted by 'WillDendy87' on 02 Feb 2009 @ 17:21

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WillDendy87Joined: April 2004
Total Posts: 1
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Why would the banks raise rates? It would just make them uncompetitive in the market and people would get mortgages everywhere else.

Like I said, these mortgages were securitised and sold to government institutions, and as you know the money lent out didn't exist anyway, so it didn't matter if they were AAA or sub prime rated, because the government was buying them to make the figures look nicer!

It would now be impossible to raise rates to 15%, since we (and the country) owe so much that raising the rates to combat the decline of the pound, would screw anyone with mortgages and the whole economy will come crashing down!

If they remain low the pound will continue to plummet in value, we will not be able to pay our foreign liabilities and the economy will come crashing down!

Either way, we are pretty screwed, unless we manage to re-inflate the bubble (like they did in 2000) for another few years and compound the disaster!

Maybe not as screwed as the USA though...

Out of interest, how does voting stop us from having a pure capitalist state?

Message Thread:

ITPRO by 'WillDendy87' (31 Jan 2009 @ 15:22)

Re: ITPRO by 'itpro' (31 Jan 2009 @ 16:25)

Re: ITPRO by 'DavyBoy' (31 Jan 2009 @ 17:01)

Re: ITPRO by 'itpro' (31 Jan 2009 @ 17:14)

Re: ITPRO by 'DavyBoy' (31 Jan 2009 @ 21:31)

Re: ITPRO by 'SimonS' (01 Feb 2009 @ 10:30)

Re: ITPRO by 'itpro' (01 Feb 2009 @ 17:53)

Re: ITPRO by 'RoadRat' (01 Feb 2009 @ 19:28)

Re: ITPRO by 'KevinW' (02 Feb 2009 @ 9:49)

Re: ITPRO by 'itpro' (02 Feb 2009 @ 11:11)

Re: ITPRO by 'WillDendy87' (31 Jan 2009 @ 20:17)

Re: ITPRO by 'RichyC' (31 Jan 2009 @ 20:42)

Will by 'itpro' (01 Feb 2009 @ 17:55)

Re: Will by 'WillDendy87' (01 Feb 2009 @ 19:40)

Re: Will by 'itpro' (02 Feb 2009 @ 11:29)

Re: Will by 'WillDendy87' (02 Feb 2009 @ 12:32)

Re: Will by 'WillDendy87' (02 Feb 2009 @ 12:48)

Re: Will by 'itpro' (02 Feb 2009 @ 13:32)

Re: Will by 'WillDendy87' (02 Feb 2009 @ 14:05)

Re: Will by 'itpro' (02 Feb 2009 @ 15:52)

Re: Will by 'WillDendy87' << You are here!

Re: Will by 'WillDendy87' (03 Feb 2009 @ 14:17)

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