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Thursday, October 15, 2009
current British housing market ruminations
eric pebble -"They've [the bankers] achieved their aim - to fraudulently pump up house "prices" for 10-15 years by issuing Liar Loans, backed by CDO's & SIV's: THUS - The Genie is out of the bottle - house "prices" now = 6, 7, 8, 9, 10 [etc.] x single salary...
SO - only way to "afford" property now is for both husband & wife/partner to combine their earnings - and take out 30-40 yr mortgages of lifetime of slog incomes -- TO BUY THE SAME THING IT TOOK JUST ONE LOW INCOME TO BUY 15-20+ YEARS AGO......
This was all deliberate - The Moneylenders have prised the Genie out of the bottle.... Many people have fallen for it -- they now pay £200-400k for A SHOEBOX/DOG KENNEL, BRAINWASHED into thinking this is an "investment".....
THE question now is: WILL people continue to accept this? We have in many ways, got to STALEMATE. House buying turnover has halved [at least]: MANY people do not see WHY they should partake in this SCAM.
I.E. IT IS STALEMATE. As per usual -- it's down to - WHO BLINKS FIRST? The Buyer or the SELLER ..... ?
In the meantime - the PR Machine is PUMPING, PUMPING, PUMPING -- in the newspapers, 24/7 on the tv -- "Property prices only go up".... "Invest in property for the future"..... "Become a Property Millionaire".......... etc., etc., etc.
AND - The Moneylender[s]....? They're sitting in the wings, as per usual, sniggering away, rubbing their hands together in glee.... They control the politicians via the PR & Lobby Machine - MP's and BENT Lords in House of Lords table and/or amend legislation through parliament for them on the sly...... etc etc., etc., etc. "
tinker -
"I remember the property crash of the 90s, and that was before Liar Loans, and people got hurt, negative equity became currency.
But those price levels (and losses) mare nothing compared to the bubble created today (see HPC graph).
I looked on with disbelief wondering how prices could have risen so much, and how people could be so stupid and fall for it.
Pokey little 2up-2downs that had trebled in price over a few years. Absolute madness. All that interest - what a waste.
The bankers it seems will always find ways of relieving us of our money, too many are willing to acquiesce.
One salary
Then one and a bit
The two
Then increased multiples
Then increased terms
What next? Generational mortgages?
The madness will only stop when people stop plying the game, and say enough is enough.
This should be happening now, however, the powers that be have other ideas... "
Redhat Sly -
"In 1980 I tried to buy a house that was on the market for £4,500
I had to have a sit down talk with my bank manager. A Mr Stead at Yorkshire Bank.
I had a £2k deposit, a bond for £1k that matured about 4 months later which I wanted to sign over.
I wanted a loan for £1.5k
I was in full time employment earning £3k a year.
He refused! "
sketched by dweller at 11:17 pm
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Tuesday, October 06, 2009
my recent trip to Switzerland
sketched by dweller at 9:36 pm
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The March Hare Race
sketched by dweller at 12:38 am
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Saturday, August 22, 2009
home again home again jiggedy jig
this is a panorama shot of my kitchen/living room that I share with three others. I made the picture by automatically stitching together several photographs using a piece of free software called Hugin.
Its easy to use you should try it.
sketched by dweller at 6:45 pm
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Thursday, July 09, 2009
The chancellor's City surrender
What ?! They piled over $1300Trillion of derivatives on a base of mortgages they sold to people who barely had a pulse and zero income. They did it outside of a transparent market, over-the-counter. They lied and lied and lied. They even shorted the companies they sold the rubbish on to because they knew the junk would take them down. They lobbied for Glass-Steagall to be binned because they knew that what they were up to was a conflict of interest and all they had to do was to remove the legislation in their way. They decorated their balance sheets with assets that they themselves valued and called it "mark-to-model". Bookkeeping based on a lie. They took their worse crap off-balance sheet and offshore and sold and resold crap between themselves and the SIVs to create ever more "deposits" which they used as "collateral" for yet more borrowing and lending. Every time the penny came around they took "fees" and "commissions". This boondoggle inflated the money supply, robbed honest workers of their savings and because it was covered with layers of bookkeeping boolshite, distorted price and investment signals leading to malinvestment and misinvestment. Now they have collapsed the world.
And you think that is BORING banking ? Then what the hell is rampant, out of control , criminal, embezzeling, their noses in the coke bucket and their hands on your wallet. banking ?
This was no Black Swan , this was an organised crime who have as a last insult stolen what is left of the taxpayers' money and bailed THEMSELVES out and carried on paying themselves obscene "bonuses" as though nothing happend.
These BORING bankers need to be put on public trial for treason.
sketched by dweller at 1:15 am
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Thursday, July 02, 2009
Glastonbury events - getting earthy on an early Sunday morning
So after a period of Spock mind melding with planet Earth, I left the peace tent and went up to the main fire by the stone circle.
Here gaggles of people were waiting for the sunrise. There was drumming going on but no dancing. A lass who had just wheelbarrowed a tonne of wood up and then hand lifted the great heavy lumps onto the fire decided to relax her weary body with a bit of a dance. I naturally joined in. After she left I moved into her spot next to the drummers and to the command of their silent gestures I stomped my feet in time to a particular rhythm. I let the ground really have it. Over and over and over again. In fact each time I stomped I could feel a whole mass of the earth vibrate - kind of like how the earth moves if you jump up and down on peaty ground.
So eventually in my addled mind I thought (in a Neil from the Young Ones moment) WOW they're drumming the drums with their hands and I'm drumming the whole planet Earth with my feet. This added to my enthusiasm and I transmitted a lot of energy. More and more people had started to dance so I felt Job done. I wandered off for more early hours adventures...
sketched by dweller at 2:18 am
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Friday, June 12, 2009
my band logos from last.fm
sketched by dweller at 10:44 pm
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Thursday, June 11, 2009
prophetic article - the new poor
You have heard of the third-world debt crisis: now for the one in the first world. Ordinary people, up to their necks in debt, will bear the brunt while the rich get off scot-free
British and American consumers are obedient and compliant. When the central bank chiefs of America and Britain, Alan Greenspan and Eddie George, sidled up to them in the 1980s and 1990s, nodded and winked, they took the hint, and dutifully embarked on a binge of borrowing and spending. The nod and the wink were never explicit, but the easy money policies that deregulated lending, boosted credit card companies and lowered interest rates have provided the incentives for consumers (on declining incomes) to borrow like there's no tomorrow. That, consumers rightly calculate, is just what the powers that be want them to do.
And so debt has spiralled. By borrowing and spending, the middle-class consumers of the US and the UK, heroically and almost single-handedly, are holding up damaged economies, scarred by the bursting of asset bubbles such as stocks, telecoms and dotcoms. These bubbles, in turn, had their origins in the credit bubble created by central bankers and other deregulators.
But one group of people has stayed away from the party: the rich. According to the new annual report on the global econ- omy from the New Economics Foundation (NEF), the rich have declined to become heavily indebted, both in the US and the UK. They have sat idly by and watched as central bankers helped inflate a credit bubble, which then flowed into and fortuitously pumped up the value of assets, including property.
sketched by dweller at 11:41 pm
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Thursday, June 04, 2009
a nice video
sketched by dweller at 11:56 pm
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Saturday, May 23, 2009
Mihaly Csikszentmihalyi
Mihaly Csikszentmihalyi
FLOW
In his seminal work, 'Flow: The Psychology of Optimal Experience', Csíkszentmihályi outlines his theory that people are most happy when they are in a state of flow— a state of concentration or complete absorption with the activity at hand and the situation. The idea of flow is identical to the feeling of being in the zone or in the groove. The flow state is an optimal state of intrinsic motivation, where the person is fully immersed in what he or she is doing. This is a feeling everyone has at times, characterized by a feeling of great absorption, engagement, fulfillment, and skill—and during which temporal concerns (time, food, ego-self, etc.) are typically ignored.[5]
In an interview with Wired magazine, Csíkszentmihályi described flow as "being completely involved in an activity for its own sake. The ego falls away. Time flies. Every action, movement, and thought follows inevitably from the previous one, like playing jazz. Your whole being is involved, and you're using your skills to the utmost."[6]
To achieve a flow state, a balance must be struck between the challenge of the task and the skill of the performer. If the task is too easy or too difficult, flow cannot occur.
The flow state also implies a kind of focused attention, and indeed, it has been noted that mindfulness meditation, yoga, and martial arts seem to improve a person's capacity for flow. Among other benefits, all of these activities train and improve attention.
In short, flow could be described as a state where attention, motivation, and the situation meet, resulting in a kind of productive harmony or feedback.
sketched by dweller at 3:38 pm
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Thursday, May 21, 2009
"Young Socialist" lets greed get the better of him
His group of investment companies called Level One owes 1.5 billion euros ($2 billion) to creditors led by Credit Suisse Group AG, according to estimates by the German administrator. The two main holding companies defaulted and were placed under court administration in August, U.K. filings show, after the group bought 27,000 units of communist-era public housing in the former East Germany over three years, almost entirely with debt. read more
sketched by dweller at 9:56 am
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Tuesday, May 05, 2009
London Zoo
turnip prize or eurovision
hump the toaster
trevor mcdoughnut or alastair campbell
god save me from a Canonbury weeping willow
new river walk is a drain with poisoned ducks
the birds sat stiff and in a daze, what is in that water
a new river - a stagnant pool
and the weeping willows remember a better time
to be in Islington...
past the essex road
I get to the canal
I see a large opening
I'm listening to London Zoo
Angry sounds,
The guys fiddling with their longboats
Don't seem pleased to be there,
I gaze into the large opening,
A grand vista,
A rectangular pool of Canal water.
In the distance a half demolished building,
I can make out the insides of homes,
Spilling out.
A freeze frame of a dynamite demolition.
LONDON ZOO LONDON ZOO
What animals have escaped
and are roaming the streets?
sketched by dweller at 1:28 am
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piggies
sang a song of suckling
and this little piggy
rode a white swan
and this little piggy
in an english country garden
while this little piggy
gatecrashed a new cross squat
sketched by dweller at 1:25 am
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Wednesday, April 22, 2009
£20bn of public property to be sold off to finance banks bail-out
"the Banks are buying up our country with our money - they are transfering our assets to the Bankers (through corporations which the banks effectively own anyway through the title of the loans they advance those companies) - and get this - it is such a twisted wicked scheme that we get to fund the bankrupt banks to take our national assets as well.
This is the undoing of our democratic parliamentary system - this is the nature of the wicked schemers that lord over the people of the UK. "
sketched by dweller at 8:29 am
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Friday, April 10, 2009
Blog from an inter city train
sketched by dweller at 1:43 pm
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Thursday, April 02, 2009
The larger evils invariably escaped their notice.
— George Orwell, Nineteen Eighty-Four.
sketched by dweller at 10:43 am
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how our leaders are propping up this sick system of rich bankers
Treasury hopes to get us out of the mess by replicating the flawed system that the private sector used to bring the world crashing down, with a proposal marked by overleveraging in the public sector, excessive complexity, poor incentives and a lack of transparency.
What the Obama administration is doing is far worse than nationalization: it is ersatz capitalism, the privatizing of gains and the socializing of losses. It is a “partnership” in which one partner robs the other. And such partnerships — with the private sector in control — have perverse incentives, worse even than the ones that got us into the mess.
Joseph E. Stiglitz
The whole Geithner plan stinks. It is even more of the same, socialising the losses and provatising the profits and Stiglitz is not the first to point out that this plan is just a way of robbing the taxpayer to get the nasty stuff off the banks' books without looking like pure nationalisation of the debt to the man on the street.
It is disgusting!
The fact that 90% of the population aren't rioting in the street suggests that the US public are bovinely cowed and stupid...or is it that a large portion of them believe that, given their obscene debts, this will work out well for them? Whatever the case the whole thing fills me with loathing of the whole system...there is absolutely no morality left. I see no reason to be honest and hard working anymore...none. I've more or less come to the conclusion that tax evasion is a moral duty. Boy are my kids going to get a different lesson about how to behave in society than what I did from my parents.
The only way to get these toxic assets off the banks' balance sheets in a fair way that does unduly encumber the taxpayer, is by allowing the banks to fail. Certainly there would be a certain cascade effect, but being "too big to fail" is absurd, and creates moral hazard - if a bank only borrowed and lent enough, it would put the taxpayer at its mercy by being "systemic". But the hopeless flailing around with obfuscation schemes designed to transfer the "systemic" risk to the taxpayer, is no less systemic once it sits uncomfortably on the public balance sheet, and given the globalisation in the finance industry and the politicisation of these decisions, are simply protectionist.
The Banks must be allowed to fail. The losses must be accepted by equity holders and bond holders. The fools must be parted from their money. It will hurt. It might even be seen as depressionary. But it will be over much sooner, the market will find its bottom, the point from which it can recover. However, a finance industry absolved of its utter failure, transferred to an overburdened and newly indebted taxpayer, is a recipe for a much longer and intractable depression.
Yesterday's demonstration in London is really just the tip of the iceberg.. The *ankers waving money from the windows is like the french gentry's behaviour just before the revolution.
This is the start.. Just wait until later this month when Brown ups the tax to extortionate new levels and by the end of the year, we are all watching our food and fuel skyrocket, and interest rates get hiked .. We are nearly at breaking point.. I think the majority of the population are in denial at the moment, but that will soon turn to anger and we WILL have civil unrest.
History does have a habit of repeating itself. Mark my words, please somebody.. quote me in 12 months time.!!
sketched by dweller at 10:14 am
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I'm a mild man but it's time for a fucking global revolution just to teach these fucks a lesson
Let me see if I follow here:
The banks lose trillions of dollars
The world's leaders steal our money to give them back the money they lost (not in order to replenish out lost pension funds and retirement funds, btw, but in order to replace their empty coffers since these banks were loaning out at a rate of 50 bucks for every 1 buck they actually had)
The world's leaders meet in London to discuss how to steal more of our money
We protest
And the police who are paid by our money beat the crap out of us.
In other words, we pay for the banks to lose money, we pay for the leaders to pay the banks, and we pay for the police to beat us.
Seriously, I'm a mild man but it's time for a fucking global revolution just to teach these fucks a lesson if nothing else.
sketched by dweller at 12:36 am
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british police tactics at g20 protest and protests in general
Stage 1: get in the way of marchers at the last minute (ie just before the BoE) and try and push them backwards in on themselves. Cut the crowd into managable 'chunks' using barriers and lines of officers. Prevent people from going down side streets. Prevent people from going in or out of certain areas. "Shape" the crowds into static lumps of a certain size and keep them there against their will, to demoralise the more 'casual' protestors. Shaping the crowd mans that no one section is more than a certain size. Keeping it static means that people can' choose where and how they protest, and allows stage 2 to progress.
Stage 2: Keeping this 'holding pattern', get increasingly kitted up and start rough-housing the crowd in sections - push them around pointlessly and start beating them, but don't let them leave. Further wears down and demoralises people and also provides the pretext for next stage...
Stage 3: The 'controlled release' phase - disperse the 'softer targets' in the crowd in small increments, by baton charging and pushing the crowd around, but now allowing some people to escape. Because people have been held so long most will immediately decide to go home at this point. On the way out they are intimidated and isolated so are easier to bully and instruct, less likely to join another demonstration. In effect the softer targets are bullied off the field of play.
Stage 4: The "Finish them off" phase - anyone who still remains is driven further together and can now be labelled as "the hard core" - by the fact they have remained (and ignoring that they have been penned in). At this point they can be baton charged repeatedly, the media will have run away and its too dark for decent footage, news deadlines have past and the remainder can be arrested, id-ed, searched etc.
This strategy is put in place beforehand, and enacted regardless of how peaceful people are. Anyone wanting to uncover the documentation and management of this by senior officers is told to get fucked on the grounds of operational secrecy, public safety and national security. The proof exists however by looking at even after event where the same thing is put into effect, regardless of people's "right to protest" or how well behaved people are.
Great country we live in, isn't it?
sketched by dweller at 12:29 am
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Thursday, March 26, 2009
The Big Takeover : Rolling Stone
"It's over — we're officially, royally fucked. No empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country's heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire."
This is quite a long article,
but very very interesting about how
the US Fed bank is secretly protecting
all the failed Wall Street players by pumping trillions
to them under the table. Democracy is dead in america,
the banks rule all.
This was apparent to us when we went on the J18 demo in the city of London all those years ago.
Now the UK and USA are confirming this.
These people are seen as untouchable.
Read on and find out more
sketched by dweller at 10:26 am
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