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Just so you know guys......and i aint scaring ya here. I trace people for banks and building societies, car finance firms too. Not nice i know.You would not believe how many houses are being repossessed at the moment as people cannot afford to pay off their mortgages. People have been borrowing far too much and its the banks that are to blame. We all know that so there is nothing new there. But.......... it is a mirror image of the early 90's. If the property market crashes then the UK will be in turmoil as a vast number of people have invested heavily into their homes over recent years. I dont have savings as i have ploughed everything into my house. I am lucky that i have large equity in it but at the moment i wouldnt mind selling up and having money in the bank, going into rented accom and seeing which way the tide turns!If i was you John i would hold tight mate.
Investment is like gambling - the key is spread betting
SPOLER ALERT - I AM ABOUT TO PREDICT THE FUTURE - IF YOU DONT WANT TO KNOW ( just like sport on the news) LOOK AWAY NOWleave your money where it is...or if you have a mortgage, deffo change to an offset.when the recession hits, which it will ( hard ), all sorts will happen...primarily,house prices will start coming off in chunks, people will panic and start worrying about all the nice things they've bought with the remortgage money, which they can no longer afford, this alone will slow peoples spending right down....other factors to considerpetrol will continue to rise , as there isnt any more of it in the ground,...food prices will continue to rise as the cost of producing and more importantly the cost of transportion of food increases (massively).. old tesco and sainsburies will sure as shit not be taking a hit of there profits, so we'll ge the bill and then some......gas/electric prices are on the rise so more money to find there also.....people will look to tighten their belts...bmx parts will stop getting bought, and more will come to market as people try and cover costs within household....even if they try not too, resistance is futile as birds will start moaning like fook, and it'll happen jsut to shut em up....countries economies wil start to falter, the west will go to war with the middle east on all fronts ( economic and political initially) in an attempt to secure its energy, this will fail and global guerilla warfare will ensue, the west will conveniently call this terrorism to create fear and get the support it needs to continue trying to secure its energyor has this already happened?anyway, after that, it goes down hill pretty rapid..underdevloped countries get raped of remaining assets, goods go to highest bidders and its ever decreasing circles from there on in....cars become worthless, as no one can afford to run em anymore, food becomes a luxury as transportation companies have to increase there bills by multiples as opposed to percentages and your bmx will be your main mode of transportme? i'm buying some high powered air rifles and going on a survival course with ray mears...and start growing me own vegg and get some chickens....the future is so bright, i gotta wear shades...(literally, as i forgot to mention global warming)global meltdown here we come...
