to feel seething resentment towards those who profited from the house price bubble and hot anger at the Governments who allowed it to happen?

[TartyMcFarty]

You'll have to forgive my naivety here - I'm ranting about something I don't really understand.

DH and I are stuck. In 2006 we bought a (modest) property on a 100% mortgage. Foolish in hindsight, I know, but based on the advice of our IFA, the unshakeable faith of our families and society that property ownership was the way to go, and the increasing pressure at the time to get on the ladder or miss out, that was the decision we made. We then found that the lender, bastard bastard Northern Rock were unwilling to remortgage based on our lack of equity, despite us having overpaid by several thousand pounds. We couldn't shift the place, and with the agreement of a different IFA, remortgaged against the equity in my DM's property (love her!). It gets more complicated than that, but that's all that's needed here. Now we still can't sell it , our tax credits have suddenly disappeared, my pension contribution has increased (DH doesn't even have a pension) and the tracker rate is slowly increasing. We're on interest only, and as I'm part time since the having DD, with another DC on the way, there's not much of a cushion.

What's really angered me over the last couple of days is the dawning realisation of how people just a few years older than us have profited from the massive increase in property 'values'. I'm still in touch with our ex-neighbour. She bought seven years earlier than us, sold at £120k profit after 10 years (this is not London!), her partner was in a similar situation so they have ended up comfortably in a property of twice the size, renovated to a really lovely standard. Obviously my resentment isn't directed at them personally - they're good people, have profited from a stupid market and good luck to them - but it's just an illustration.

How can we possibly hope to survive in a property market that boomed by more than 3.5x in this instance alone? We can't even afford to maintain our own home to a good standard. Pay isn't moving at all, and we're currently looking at less than .75 of a pension between us. I can't even bear to think about how we'll support our DCs through HE, and the risk to my DM's home if interest rates shoot up.

I just need a rant. Those of us stupid enough to be sucked in at high LTV rates towards the peak of the market are fucked all ways, whereas people just 5 years older than us are untouchable. I know I've only given one example for which I know the exact figures, but there are others I can think of in the same lucky situation. There just doesn't seem to be any point in trying when you compare our situation with those who profited so enormously in the 00s.

It's the folks who put their houses up for rent without contacting their insurers who need their head's read - getting tenants in invalidates your contents and buildings insurance. One accident, god forbid a fire and you have lost everything. Selling up and making a loss suddenly seems like a much better option...

The Bank Of England has set its sights on an ex goldman sachs banker to take over from mervyn king. I bet he knows what hes doing, saying that though look who all the people currently running the eurozone used to work for.

Well that's alright then - Its odd but Rolling Stone is doing better reporting than the the Financial Press - see this report

However I do think a black swan event - and I'm thinking something to do with the Euro here, could send the entire thing into meltdown

Thing is most of these things are not black swans, but elephants in the room - known unkonwns, as it were.

Millions of people are about to have their whole way of life destroyed by billionaires.

Anybody plucked up the courage to tell their friends and family whats been going on yet ?

Oh absolutely whatme every time the BBC News uses the word 'unexpectedly' to describe economic news and events that have been obvious to anyone who reads about current events - makes me fume! (or worse still Question Time, Dimbleby is a man with an agenda and a knack for selective editing if folk stray too far from the safe and accepted narrative - I remember his pisstaking of an audience member about a potential greek default and then et voila!). It's like when everyone says - 'well who saw the credit crunch coming?' - loads of people actually. But then I read contrarian sites like Powerswitch and housepricecrash - and thoroughly recommend everyone else does too if they want something more intelligent than the Beeb.

It's like when everyone says - 'well who saw the credit crunch coming?' - loads of people actually.

Its interesting, I saw it coming, its wasn't hard - but I was amazed at how little was being written in the "serious" press from c 2005 - 2008. I gave up on The Economist and FT about then as they were trotting out the Panglossian line until the cliff edge. I was only reallythe smart blogs that were taliking about it, Peston et al only opened their gobs once it hit them in the face.

...and I am shocked at how little the press (and the public tbh) are squeaking now about the blatant signs of government and regulatory capture that the bankers are exhibiting.

The only thing that will stop the cabal now is a military coup, well a lot of military coups in a lot of countries.

Soldiers are already speaking out about what is going on so maybe we will have a chance.

Hmmm apologies if I don't put my faith in a military coup either.... jeez talk about from the frying pan to the fire! I don't want to be ruled by sociopaths or professional killers

I went to buy some summer shirts today and actually wondered whether I should bother if the apocalypse is nigh.

No one wants to look shabby, but OTOH I don't want to look too gauche either.

Lucky for me I couldn't see anything I liked. Disaster averted.

The only thing that will stop the cabal now is a military coup, well a lot of military coups in a lot of countries

I think they are more worried about mass protest movements like Occupy right now tbh, as if these catch on the democratic process can unwind the oligopoly very fast. I thinkthe whole Arab Spring has deeply unsettled their certainty.

I think we should all canvass Style and Beauty asap for suggestions about appropriate barricade fashion. I have a feeling Boden would be de trop.

I bet Johnny is working on the Mad Max catalogue now.

Apocalypse cardie anyone?

How come you have lost your tax credits? Is it because you work less than 24 hours per week?

If a military coup happened it would most likely be done by the soldiers who know what is going on, the top military brass would probably try to stage their own coup but the banks would order that one.

If you have watched the "what really goes on in iraq-iraq war veterans against the war" video on youtube you will see plenty of soldiers who have woken up to what has gone on, There are thousands of people like this serving in militarys all over the world.

The members of police forces are going to have to decide what is the right thing to do once it starts as well. One of them has already been sacked because his conscience would not let him carry on doing his job once he had woken up to what has been done.

His name is Tony Farrel and he was the principal intelligence analyst for south yorkshire police. If you watch the "7/7 institutional denial" video he has on youtube you will see who was really behind the 7/7 bombings in london. There is a lot of evidence to back up what he is saying but most people have not seen it because it will not be talked about in the mainstream media.

The government are worried about mass protests because they know full well that if the population of this country marched to london and asked for the removal of the government and bank of england, the game would be up and they would end up in jail.

This is why all forms of communications are monitored and the whole country is covered in cctv.

Another youtube video people should watch is "Talking CCTV Camera orders residents to leave their own properties" The powers that be have been preparing for years.

redshoeld - you are scaring me - how bad could this get?

Codandchops.

If you go to THE SLOG and read the eurozone blown section from start to finish and read all the comments and follow the links in the comments, you will see what people think will happen. Its basically a guess as to how bad things are going to get but you only have to look at the suicide rate increases in the eurozone to understand its not going to be good.

All this can be stopped by removing fractional reserve banking and installing a government who works for the people.

Britain does get 50% of its food from europe so you can imagine what could happen when the euro collapses, look what happened when a fuel crisis was mentioned on the news and imagine they had said food crisis instead.

If you do read the euroblown crisis you will see what has gone on in europe so far, then you will be able to decide if your government are in on it or not because they gave another 10billion of tax payers money to the IMF a few days ago. If you have watched Money Masters you will also know if fractional reserve banking was stopped, tax payers money couldnt be spent on worthless things because there would be no taxpayers. Yes you wouldnt have to pay any income tax.

Please check the About section of this blog to see what the author has got right in the past, only the other week he reported that an insider had told him that a greek bank had stolen all the funds from some universities and hospitals and then a few days later it hit the news channels in greece because they couldnt hide it any longer.

Cod - bad enough to warrant an Apocolypse Boden Cardi I think...

Joking aside - I was chatting with a colleague yesterday who was thinking about getting married in Greece. I actually advised against it. mostly based on this thread!

I normally never stick my beak in to peoples' wedding plans, but I felt I should say something.

Gruffalo.

Your friend will probably be very thankfull for you telling them more than the mainstream media is doing.

Thats the reason i have posted what i have, "i felt i should say something".

Im just saying what i am saying and then people can choose to look at the evidence or not and make up their own minds about what is going on.

Absolutely Redshield.

I think people find it hard to stomach. It's like admiring a pair of trainers and then being told it was made by 5yos who were beaten and used as slave labour. It's not what you wanted to hear, although it's true.

Which is exactly your point.

Thing is, it's difficult to maintain that level of fear and doom and yet still function day to day. Even if everything is about to go tits up, I still need to put the washing on and change nappies.

Life (whatever that is) goes on.

redshield, I am glad that you are posting. But I would say look after your own mental health, and dont believe absolutely all the stuff you read about concerning the economic crisis.The majority of it may well be right, and some of it may happen.

The Tesco stuff on that blog is fabulous, have had many a whinge about their dodgy pricing stuff.

We are all slaves though arent we, some just have better existences than others.

None of us are truly free as we have lost our liberty to the "system".

Was anybody ever asked if they actually wanted to be in the system, i certainly wasnt. I was just enrolled into the national insurance contribution system and had my wages taxed when i started working, which i now know does not need to happen if fractional reserve banking was abolished.

The "take the red pill" speech in the matrix describes the "system" perfectly, Once people have their wake up moment and watch it they come to realise it is a metaphor for the system that they live in.

What to do after your wake up moment though ? you are right with what you are saying that life still has to go on and im still living mine, but i have informed everybody i know as to what is going on. You have to ease them in slowly or they will just dismiss it as a conspiracy theory. I just told everybody i know to go to youtube and watch Money as Debt and Money Masters and make their own minds up and if they wanted other stuff to read and watch i could point them in the right direction.

Most of them have now informed other people of how the world really works, if everybody did this i suspect the occupy movement would not have been ridiculed and been made out to be a bunch of wasters.

Amillionyears.

No mental health worries here

God knows what would have happened to my mental health if i hadnt woken up. It does get to you after a while knowing that no matter how hard you try and how hard you work you will never be able to afford to buy a little house to live in.

Waking up is quite liberating, i always knew the system was useless but i thought it was that way because the politicians were useless, now i know that the politicians are very clever and are just puppets paid to look stupid life is a lot easier.

I can sit back and watch grown men and women (politicians) on tv just throw away their dignity,pride and morals to serve a corrupt system, once you wake up and see them make "mistakes" you start to laugh at how weak these people really are.