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A Sign of the Times

Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

A Sign of the Times

The stockpile of Hondas at Southampton Docks after the export market they were intended for dried up.
13 REPLIES
pierre_pierre
Grafter
Posts: 19,757
Registered: 30-07-2007

Re: A Sign of the Times

and dont forget all the empty transpoters in Southamptn waters and the various airfield runways full of cars, you will have to get a few of the wealty conservatives to buy some Wink
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: A Sign of the Times

Maybe they need to ship them to the UAE, Kuwait or Saudi as they are the only countries that have any money it seems at the moment as who would buy a car if they don't know whether they'll have a job and of course they cant get credit so all of this is the bankers fault.
Community Veteran
Posts: 4,729
Registered: 04-04-2007

Re: A Sign of the Times

Or maybe the banks need to offer affordable credit. The base rate maybe 1.5%, but personal loans are still about 8%.
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: A Sign of the Times

But hasn't the government sorted this out and told them to lend at more realistic rates Wink Wink
BTW, rumour has it the banks will be given more of our money next week.  Maybe I should become a bank Wink
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: A Sign of the Times

Well now that HM Gov has bought large stakes in several of the large banks, they will use the position to force down lending rates.
Maybe we should set up the PN forum bank and bid for some of that cash.
Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: A Sign of the Times

I'm off out to dinner now - purely in the interests of helping the economy you understand Wink Wink  Speak later if I'm sober.
Community Veteran
Posts: 16,862
Thanks: 1,141
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Registered: 06-11-2007

Re: A Sign of the Times

Quote from: chillypenguin
Or maybe the banks need to offer affordable credit. The base rate maybe 1.5%, but personal loans are still about 8%.

Yes, and credit cards are at a staggeringly high 17.5%...... does anyone remember how much gas and electricity went up ? and why?  Oh yes, it was about 25% and it was because the price of oil and gas went up..... well it is now down, but electricity and gas are still OTT yet the government is doing nothing..... reduce the cost of gas and electricity to manufacturers, and to the public...... REDUCE COSTS .  more production  more workers....... same workers, more money in pocket, same workers spend more money, economoy grows, produce more, more employment , more money for tax income to government, and so it goes on..... Am I in for the job of PM ? Roll eyes
Community Veteran
Posts: 1,100
Registered: 05-04-2007

Re: A Sign of the Times

I always think it is strange that we got in to this situation because people were borrowing money to buy things they could not afford. Then the solution to problem is to encourage people to borrow money to buy things they can not afford. The logic here escapes me.
Community Veteran
Posts: 7,154
Thanks: 54
Fixes: 2
Registered: 30-08-2007

Re: A Sign of the Times

I agree spider, but really escapes me is that it is the banks and financial institutions that got us into this mess, and what happens? vast amounts of money are thrown at them to get the economy going again, and what do the bank and financial institutions do with the money? sit on it, continue to pay themselves obscene amounts of benefits, while the rest of us suffer. I don't much like the present government, but its high time it got very very tough with the banks etc. and forced some action or if that fails nationalise the lot of them, but I doubt they will do that the Gord and Ali show has too much interest in keeping things the way they are, and keeping the "little man" down and under control. For all they're posturing and quoting "everything that is necessary will be done" they actually do very little.
Experience; is something you gain, just after you needed it most.

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Community Veteran
Posts: 18,551
Thanks: 195
Registered: 12-08-2007

Re: A Sign of the Times

Couldn't agree more.  When the government hands over the money why don't they make it conditional on how the banks use it. 
Community Veteran
Posts: 1,100
Registered: 05-04-2007

Re: A Sign of the Times

For my sins I have worked in a bank and although it is easy to blame the banks I think it is more to do with our own greed. When the banks were tighter making loans then people complained. When they made loans easier, people complained. When they made a profit, people complained. What people want is high percentage interest for their investments and low (or no) percentage interest for the borrowings. Personally I don't think things will improve to people start accepting that once you are spending an overdraft you are spending someone else's money. Banks have to make a profit otherwise they will go under. I don't believe in big bonus's for senior management what ever the company nor do I believe that the government should start baling out business. The reason I believe this is equality for all. If you bale out one business, you should bale out all business's that are struggling.
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: A Sign of the Times

I think Brown is looking to save businesses that create a lot of jobs and/or a lot of smaller firms depend on the business as their largest customer, for example, a company that makes switch stalks for car manufacturers has a somehat limited customer base and so if the plants close not only are those workers going to end up adding to the Job Seekers Allowance bill but the small company's employees will too.
As for the banks I agree that we are going to have to get used to more expensive forms of credit be it mortgages, loans or credit cards and of course banks need to turn a profit but I think what people, including myself, find most distasteful is the ridiculous salaries and bonuses and severance packages the top brass were being paid in the light of the situation we know find ourselves in, it was also their greed that drove the creation of these obscrure financial instruments such as lending to those with no proof of income or allowing them to self certify.
techguy
Grafter
Posts: 2,540
Registered: 12-09-2008

Re: A Sign of the Times

Looks like the government control of RBS is to iocrwase to 70% so maybe they will exert more control over where public money is going.