What will the next raft of cuts be?

[Anna B]

You're not a statistically-representative sample

 

I have several of these things, and am far from being 'mortgaged to the top': equity in our house at 60+% by now, no other loan, credit or liability of any sort.

 

Many bankers have long kept asking me (one even dared to propose me an interest-only mortgage at 12x salary multiple back in the day...I kid you not!) and still regularly do. I have equally long told them all to go jump

 

So ask yourself why, in times of huge debt and austerity, and after a devastating crash caused by exactly this same thing, are they still allowed to do this?

 

Who is getting rich from it?

 

(clue:'The Sunday Times Rich List')

Edited April 30, 2015 by Anna B

[kidneystone]

If the Tories get in then the rich will get a lot richer and the poor will get a lot poorer.

[L00b]

So ask yourself why, in times of huge debt and austerity, and after a devastating crash caused by exactly this same thing, are they still allowed to do this?

 

Who is getting rich from it?

Well, that particular (Irish) banker lost his job at AiB in 2008 with the crash. At the time (2007), he was trying to entice me away from BoI who had 'only' offered a 10x multiple (not that I was interested in that, either). AiB is long gone. And very senior AiB ex-bankers and ex-board members are still facing criminal charges in Ireland, I believe some have already been thrown in the clink.

 

Did I mention that this mortgage offer in Ireland in 2007 was 12x salary on an interest-only 110% mortgage? I told the banker that they were completely nuts to his face at the time. He didn't believe me. How I laughed in 2008!

 

Re. bit in bold, you are wrong: I'm not aware of any UK bank offering mortgages on salary multiples beyond 4 or so (the very reason why many people can't remortgage these days: they'd self-cert'd themselves, or creatively accounted with bankers, at 5 and beyond in the stupid years), and/or with less than 5% equity (deposit): there are now very strict rules for lending criteria and affordability, which are followed very strictly and rigorously by banks, believe it or not. 10 or 12 years too late, like, but still...it's a start

Edited April 30, 2015 by L00b

[alchresearch]

Seeing as the Conservative party won't deign to tell us, what do you think the next round of cuts will be?

 

Why focus on the Tories? Are you expecting them to win?

 

Labour were questioned on Andrew Marr's show on Sunday, emphasising that Labour would cut social care, to which Miliband wouldn't answer.

[Localman]

How do you make cuts without hurting the people who recieve the vast majority of public spending? Child spending is well overdue to be abolished. There should be no incentive for feckless breeding in an already vastly overpopulated country like the United Kingdom.

 

Is it sterility or a complete personal inability to attract a person of the opposite sex that leads you to this sad perspective?

[F. Sidebottom]

It just makes me laugh how many people can't realistically debate the point at hand without using soundbytes and unrealistic stereo types ranging from 1920 to 1970, generously topped off with one sided delusion.

[PeteMorris]

It just makes me laugh how many people can't realistically debate the point at hand without using soundbytes and unrealistic stereo types ranging from 1920 to 1970, generously topped off with one sided delusion.

 

Is it delusional to take the view that the tories will make 8 billion worth of cuts....But won't say from where....that's a matter of record..Not delusion

[F. Sidebottom]

Is it delusional to take the view that the tories will make 8 billion worth of cuts....But won't say from where....that's a matter of record..Not delusion

 

Delusional comments such as 'poor will get a lot poorer.' and claiming that the rich (those 1% that already pay 30% of our income tax) get it easy, or that th banks were actually 'bailed ' out.

[PeteMorris]

Delusional comments such as 'poor will get a lot poorer.' and claiming that the rich (those 1% that already pay 30% of our income tax) get it easy, or that th banks were actually 'bailed ' out.

 

The poor will undoubtedly be hit with cuts....The banks were 'bailed out'....The rich do have it easy compared to the poor....I can't see why you think that might be delusional?

[Anna B]

Why focus on the Tories? Are you expecting them to win?

 

Labour were questioned on Andrew Marr's show on Sunday, emphasising that Labour would cut social care, to which Miliband wouldn't answer.

 

I have to hand it to the Tories, their PR is good and Cameron speaks with a natural authority. Pity that just about everything that comes out of his mouth is false, but he does do it with a certain style.

 

The fact he's based his entire pitch on the state of the economy, says all you need to know about what contempt he holds the electorate in, as only a little digging below the surface shows his 'recovery' is built on sand.

 

As for Milliband, I would rather trust his 'sincerity' over Cameron's 'authority' any day of the week, but I won't be voting for him either. I cannot forgive Labour for stifling all discussion over immigration for 10 years when we could still do something about it.

 

So, no, I don't trust either of them, but at least Labour is traditionally the party that represents the ordinary working man. And in spite of what the Tories say, Britain is still full of ordinary working men who are fed up with being shafted.