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| Ribenapigeon |
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Ribenapigeon
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Ribenapigeon
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 Posted: 21:51 - 11 Dec 2019  Post subject: |
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| Sister Sledge |
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Sister Sledge
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| Posted: 08:38 - 12 Dec 2019 Post subject: |
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The answer is we need a huge war. Not a spanking of Afghani arses - a proper hardcore war. Things will be tough but once the war ends we'll work our way back to prosperity.
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| Polarbear |
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Polarbear
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| Posted: 09:06 - 12 Dec 2019 Post subject: |
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| Sister Sledge wrote: |
The answer is we need a huge war. Not a spanking of Afghani arses - a proper hardcore war. Things will be tough but once the war ends we'll work our way back to prosperity. |
But one that needs cannon fodder so we can cull the scum.
Pikeys and gang members to the front of the Forlorn Hope. 
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| Ribenapigeon |
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Ribenapigeon
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| Monkeywrenche... |
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Monkeywrenche...
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| Shaft |
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Shaft
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| Posted: 17:52 - 12 Dec 2019 Post subject: |
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| mpd72 wrote: |
Cobblers. The fashion of borrowing far more than you could afford was a late 90's and early 00's thing. You know, when Labour were also spunking up debts on the countries credit card, they couldn't afford to pay back.
Back in the 90's you still needed a deposit and couldn't get 100% and more mortgages, that was an early naughties thing. |
I'm afraid you're 10 years out, the buy now pay later culture was kickstarted by the relaxation of the consumer credit act, which came into force in 1985.
Up to that point, finance of any sort was quite difficult to obtain, having a credit card was not a usual thing and the hoops you had to jump through to get a mortgage were more than most people could manage, unless you had a long and perfect credit rating.
After 1985, the floodgates opened and finance companies were throwing money around like water.
I was selling cars at that point and in 1984 probably 10% of my business was financed, by the start of 1986 that was closer to 50% and we had employed an F&I man to deal with the workload.
I got my first mortgage in 1988, with zero credit rating and nothing more to back up my earnings than three handwritten pay slips, from a pad I bought in Rymans; included in that mortgage was stamp duty, legal fees and no deposit, so it was actually over 100%, all it cost me was the hire van to move my stuff.
As far as I can see, the trend of borrowing has snowballed out of control and Thatcher fired the starting pistol.
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Posted: 18:10 - 12 Dec 2019  Post subject: |
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| Shaft wrote: |
I'm afraid you're 10 years out, the buy now pay later culture was kickstarted by the relaxation of the consumer credit act, which came into force in 1985. |
What and it took another 23 years for the problem to arise? Nah, modern credit card culture came later than that.
Most people were still borrowing sensibly until the late 90's and 100% plus and self cert mortgages didn't become popular until the early to mid naughties. Northern Rock were offering 125% LTV in 2005, this is when things really got silly and doom was on the horizon.
I got my mortgage in 1999 and the standard LTV rate back them was well below 95%. You needed almost 10% deposit for most mortgages.
Harping back to Thatcher in 1985 and pretending she was the root of the problem is lame at best. It was a global crisis, born from a culture of irresponsible borrowing, of which the Labour government in this country were worse than most credit card chavs and certainly not leading by example.
In boom times, they were spending so much, that even after flogging off half the gold reserves and everyone's future pension bonds, they were still building a record debt and deficit. That's a serious over spend level, which would have bankrupted most individuals.
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| Ste |
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Ste
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| Easy-X |
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Easy-X
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| Posted: 19:09 - 12 Dec 2019 Post subject: |
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Probably the worst picture to try and knock one out to... some sort of challenge?
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Ste
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| Posted: 19:43 - 12 Dec 2019 Post subject: |
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| Riejufixing |
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Riejufixing
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| Posted: 19:49 - 12 Dec 2019 Post subject: |
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'Melda Marcos would go mad. |
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Ribenapigeon
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Kawasaki Jimbo
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Ribenapigeon
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| Posted: 21:41 - 12 Dec 2019 Post subject: |
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Old Thread Alert!
The last post was made 4 years, 135 days ago. Instead of replying here, would creating a new thread be more useful? |
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I totally missed that.
It didn't take long to put you in the "blame it all on 'imgrants" corner. You tool 
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