How miserable are you that the Tories are in power?

[sundayrose10]

I feel tense and twitchy. I used to enjoy reading the politic section/ other political forums, but I fear if I keep on going there and reading more and more about Tory plans, I will give myself a heart attack.

I loath them but worst I fear them. I am anxious for this country and the ordinary man and woman.

Dave makes me feel insane with hatred.

I have a colleague who is in love with the Tories. I don't share biscuits with him any more.

Dave makes me itch. All over.

yep that's right Malcontent, deliberate misconstruction

And by the way, are you seriously saying that NuLabours spending was not the major problem during their tenure?

I think the Daily Mail (and virtually every one else) may have something to say about that.

Shorthand

I'd say it's shorthand for not knowing your facts. And really not caring what the facts are if and because they don't fit in with your views

I called you before on saying the majority voted for Thatcher. Yet you still persist in the same vague claims, based on fuck all facts

I cannot abide people who vehemently argue a case without any semblence of back up for what they are saying

If you think the 2010 GE was a resounding victory for the Tories, how come they were unable to form a government. I would say, against a PM as spectacularly unpopular as Gordon Brown, not even being able to muster a parliamentary majority is pretty lame.

'Yes, because Tories are huge supporters of banking regulations aren't they?'

Exactly right, which is why Osborne immediately scrapped tripartite regulation and put teh Bank of England back in charge, which is something that Gordon Brown did not do even after the crisis had occurred and when he was still in charge.

You keep on about regulating mortgages, but that has very little to do with the financial collapse. It was regulation of casino capitalism and derivatives gambling that counted, not mortgages.

Chen, quoting the DM as your authoritative source of political information does not do you any favours with me.

'And by the way, are you seriously saying that NuLabours spending was not the major problem during their tenure?
I think the Daily Mail (and virtually every one else) may have something to say about that.'

Yes I am saying that. You seem to be the one that believes everything the newspapers say. You believe the greens and global warming. I don't believe it, whatever the Guardian says. And I don't believe a lot that the Mail says. But I believe more of what the Mail says than what the Guardian says.

'I cannot abide people who vehemently argue a case without any semblence of back up for what they are saying'

You seem to be caught up in semantic pedantry and are missing the big picture. To me it is obvious that the Conservative party is the party that has the greatest support in England.

'If you think the 2010 GE was a resounding victory for the Tories, how come they were unable to form a government.'

Because of a concerted media effort to boost Clegg up to suck people in and ensure a Coalition government rather than a one-sided Tory government, all the better to implement the drastic cuts that had been planned for the people.

Claig, give me semantic pedantry (ie reasoned argument) against "the big picture" (ie flights of political fancy) any day

I am off to do some work now so enjoy!!

piloi

missed that before.

The world according to Claig:

There is a global elite of the worlds richest people who are conspiring to destroy the worlds economy and their fortunes as they want to cull the world's population more than they want to be fabulously wealthy.

The UK economy would be in better shape if we stopped trading with the US and Asia, and instead cut ourselves off from the world and created a insular strictly EU only trading block.

The lack of mortgage regulation and the accompanying largest property boom in history had nothing to do with the credit crunch.

Labour's spending wasn't really that big an issue.

the lack of mortgage regulation in america had alot to do with the credit crunch ...not so much in the uk .

here i found it pretty hard to borrow enough to buy a house.

I was staggeder at how much one of my young(ish) colleagues had to borrow to buy a little house in a cheap part of the country.About £30k I think.Weren't they offering 100% mortgages only a few years ago?

It was still an issue in the UK Eggy - a major one. The old rule of 3x earnings being offered by lenders went out of the window for a long time simply because mortgage lenders bought into the idea that prices only ever go up. Labour stood idly by and watched this go on. Moreover, as early as 2005, economists were warning labour that the longstanding historical relationship between average earnings and average house prices had become totally distored. Labour ignored them.

chen23

Are you the chen23 from China?

The were Moondog - Northern Rock was offering 110pc if I remember rightly.

I got a dodgy 100% mortgage through Northern Rock arranged through a dodgy mortgage advisor who seemed to have some arrangement with them. I was surprised my mortgage went straight through

not so major that it has caused a global recession - and fewer repossessions have taken place than did during the early 1990s..

basically Uk mortgage debt is still pretty secure. nothing like the situation in the US.

"The old rule of 3x earnings being offered by lenders went out of the window for a long time simply because mortgage lenders bought into the idea that prices only ever go up. Labour stood idly by and watched this go on.

Moreover, as early as 2005, economists were warning labour that the longstanding historical relationship between average earnings and average house prices had become totally distored. Labour ignored them."

Yes, and as late as 2007 Osborne and Dave were recommending less regulation of the mortgage market.

"Are you the chen23 from China?"

No, I'm the Chen 23 from Bucks

Is there another Chen23?

and frankly that old dynamic is out of the window for a reason - people used to spend 20-30% of salary on food - now with more like 10% being normal, you can afford to up your repayments...

i bloody love Tescos :)

and i think it is also bollocks to tell people they can't afford to repay in mortgage the amount they are already paying in rent (which was the situation from many banks at the height of the boom...)

there has not been a high enough rise in repossessions to cause a significant decrease in value - there is no uk equivalent to the sub-prime fiasco.

i still think there is room for a bit more common sense in mortgage lending.

Claig is like MNs answer to David Icke

EggyAllenPoe
"not so major that it has caused a global recession - and fewer repossessions have taken place than did during the early 1990s..
basically Uk mortgage debt is still pretty secure. nothing like the situation in the US."
Wait for interest rates to start rising - which they will have to to stem inflation - and public sector cuts to start kicking in and then we'll see how much shit the country is in. Repos have only been staved off because interest rates have stayed low.
Mortgages are not secure. Millions of people are mortgaged up to the eyeballs with no slack for unforseen circumstances.

Eggy, the only reason the UK housing market isn't totally in the toilet is historically incredibly low interest rates.

The minute they go up we'll see just how overstretched people have allowed themselves to get.

I don't think mortgage lenders need to lend more, I think houseprices need to become less detached from reality

I'm delighted they are in power, the Labour Party would have had the country at the feet of the IMF with a begging bowl. The economic mismanagement from Brown and his cronies have meant the country is in dire state and the idea that we'd better off with him still in No10 staggers me.