Happy Face 29 Posted February 25, 2013 Share Posted February 25, 2013 That's absolute bollocks SME businesses are crying out for loans but can't get it. Mortgages wer readily available on no deposit but now not only do you need first class credit rating you also need around 15% up front. People were changing credit cards like underwear and getting loans galore simply filling an online form, now you have to offer your first born. The above is the landscape that allowed the country to recover from previous recessions. It's all gone and the credit crunch is very much alive and kicking. Quite astounded you think otherwise. I don't base my view on perception as you do CT. Though I find it strange given your "I'm alright Jack" attitude earlier in the thread that you do perceive this drought of lending exists. Look at the Bank of England report... http://www.bankofengland.co.uk/publications/Documents/other/monetary/ccs/creditconditionssurvey130103.pdf That's what the telegraph report I quoted is based on. "The availability of secured credit to households rose significantly in the final three months of 2012 – setting a new high since the survey began in 2007." Small business lending has been bad, but the "report showed that lending to businesses is improving, with the first increase in credit availability for a year." Corporations can borrow from banks more cheaply than banks will lend to each other at the moment. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted February 25, 2013 Share Posted February 25, 2013 Here's the first article I googled for you but Im still amazed at how naive you are about this. Not like you! http://m.guardian.co...esses-worsening From 4 months before the Bank of Englands January report. Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 ...such as packages of no-deposit mortgages. In America! We had very little problem with mortgage arrears in this country prior to the crash. Investment banking that fucked up, not the retail operations. Link to comment Share on other sites More sharing options...
Meenzer 14068 Posted February 25, 2013 Share Posted February 25, 2013 Short-sighted, irresponsible lending predicated on infinite and neverending house price growth, leaving the banks in question hugely vulnerable to changes in the markets they relied on? I never had you down as a fan of Brownian theory. Link to comment Share on other sites More sharing options...
Kevin Carr's Gloves 3209 Posted February 25, 2013 Share Posted February 25, 2013 Scottish Independence may have taken a step closer. http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/9891447/North-Sea-oil-to-give-George-Osborne-25bn-boost.html Link to comment Share on other sites More sharing options...
PaddockLad 14637 Posted February 25, 2013 Share Posted February 25, 2013 Short-sighted, irresponsible lending predicated on infinite and neverending house price growth, leaving the banks in question hugely vulnerable to changes in the markets they relied on? Am not surprised you're a fan of Thatcherite theory. fyp Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 From 4 months before the Bank of Englands January report. It seems to me that you are too busy trying to win the argument that you dont even understand the stuff you are posting to support your point of view! The real credit availability is very different for SME's compared to pre the the crash and the report you highlight only backs that up. I know you like charts etc so heres one. Honestly, its a no brainer. Have a read of this for an analysis on the bank of england report. http://www.transcapital.co.uk/blog/bid/265509/Business-strategy-101-Business-funding-update-February-2013 Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Short-sighted, irresponsible lending predicated on infinite and neverending house price growth, leaving the banks in question hugely vulnerable to changes in the markets they relied on? I never had you down as a fan of Brownian theory. Never judge a book and all that Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Scottish Independence may have taken a step closer. http://www.telegraph...25bn-boost.html Well done Mr Osborne. A nice little war chest for the budget Link to comment Share on other sites More sharing options...
Meenzer 14068 Posted February 25, 2013 Share Posted February 25, 2013 Never judge a book and all that Now at least books are one area where I know you're out of your depth. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted February 25, 2013 Share Posted February 25, 2013 It seems to me that you are too busy trying to win the argument that you dont even understand the stuff you are posting to support your point of view! The real credit availability is very different for SME's compared to pre the the crash and the report you highlight only backs that up. I know you like charts etc so heres one. Honestly, its a no brainer. Have a read of this for an analysis on the bank of england report. http://www.transcapi...e-February-2013 Again, your numbers only go up to Q3 2012. I pointedly said small business borrowing had been tougher, and referred to where the reports says this improved over the last quarter of 2012. Not sure why you're so keen to highlight the bad side of private lending to business though....surely that's an argument for government taking the reins and financing some programs that will benefit small business. Link to comment Share on other sites More sharing options...
ewerk 26464 Posted February 25, 2013 Share Posted February 25, 2013 So government borrowing is a ridiculous idea that won't work but we need much more easy private borrowing, is that what you're saying? Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Again, your numbers only go up to Q3 2012. I pointedly said small business borrowing had been tougher, and referred to where the reports says this improved over the last quarter of 2012. Not sure why you're so keen to highlight the bad side of private lending to business though....surely that's an argument for government taking the reins and financing some programs that will benefit small business. Give it up man Even if its gone up in q4, its hardly got out of the minuses never mind way into the billions like 2007!!!! Link to comment Share on other sites More sharing options...
PaddockLad 14637 Posted February 25, 2013 Share Posted February 25, 2013 Well done Mr Osborne. A nice little war chest for the budget Scottish Independence may have taken a step closer. http://www.telegraph...25bn-boost.html A series of policy changes by Labour and the Coalition to increase the tax take has damaged confidence and investment. Production has slumped 30pc over the past two years to 1.55m barrels a day with the result that the total tax take is down 35pc to £7.3bn in the period. Hoisted by your own peatard CT? Gordon Brown implicated too, but tax takes down by nearly a third on Giddy's watch? he's fuckin hopeless at this numbers shit....just when the coffers need filling he's fixing it so theres less coming in from one of the major income providers, not more. If Brown was also wrong to do this, why is your boy repeating the same mistake when the exchequer needs every penny it can get? Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 So government borrowing is a ridiculous idea that won't work but we need much more easy private borrowing, is that what you're saying? Not at all. Im saying government borrowing wont be sustainable if the credit availability is not there for the general public to keep it going. Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 A series of policy changes by Labour and the Coalition to increase the tax take has damaged confidence and investment. Production has slumped 30pc over the past two years to 1.55m barrels a day with the result that the total tax take is down 35pc to £7.3bn in the period. Hoisted by your own peatard CT? Gordon Brown implicated too, but tax takes down by nearly a third on Giddy's watch? he's fuckin hopeless at this numbers shit....just when the coffers need filling he's fixing it so theres less coming in from one of the major income providers, not more. If Brown was also wrong to do this, why is your boy repeating the same mistake when the exchequer needs every penny it can get? Oil & Gas UK has been at pains to demonstrate how the industry is responding after a "decade of fiscal instability" from the Treasury. The two sides are said to have established a "new long-term approach to the oil and gas industry". The survey shows that, if all the exploration wells currently planned are drilled, the next three years will be the busiest for 15 years. and more importantly... Malcolm Webb, chief executive of Oil & Gas UK, said changes in government policy had proved to be the key factor in restoring confidence and creating a "new wave of investment." Before you get too deep into this I know sweet fa about it but it sounds from that article as though its going well, now. Link to comment Share on other sites More sharing options...
ewerk 26464 Posted February 25, 2013 Share Posted February 25, 2013 Not at all. Im saying government borrowing wont be sustainable if the credit availability is not there for the general public to keep it going. Sorry, you're going to have to explain that one further. Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Sorry, you're going to have to explain that one further. I have done already in numerous posts. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted February 25, 2013 Share Posted February 25, 2013 No you havent CT. I resisted the temptation to call you a fraudulent spazz when you started quoting the Japanese deficits as evidence for the failure of any government investments to promote growth. The reason why you are an enormous thundering moron is because the exact same policy was being deployed at the exact same time as the Japanese deficit spending in another country. Do you know which one and what happened? Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 No you havent CT. I resisted the temptation to call you a fraudulent spazz when you started quoting the Japanese deficits as evidence for the failure of any government investments to promote growth. The reason why you are an enormous thundering moron is because the exact same policy was being deployed at the exact same time as the Japanese deficit spending in another country. Do you know which one and what happened? But I didnt. And seriously, whats with hardcore ChezGiven this year and all the feeble insults? What happened to "our little corner of the internet"? Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted February 25, 2013 Share Posted February 25, 2013 Page 159, that's exactly what you are saying, that Japan carried deficits but those public expenditure projects did not promote growth. Stop being so wrong about politics and i'll tone down the abusive piss-taking. Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Page 159, that's exactly what you are saying, that Japan carried deficits but those public expenditure projects did not promote growth. Stop being so wrong about politics and i'll tone down the abusive piss-taking. Try comparing that to what you said above. See the difference? I said that Japan threw billions at infrastructure to try and achieve a goal during the 90's but failed. I didn't say it would not work for every country. I have also backed up why I don't think it would achieve anything more than a short term high here. If you have anything useful to add rather than waving your Johnson in the air then add it. As for the abuse I don't really care, but don't expect a discussion based on those terms of reference. Link to comment Share on other sites More sharing options...
NJS 3986 Posted February 25, 2013 Share Posted February 25, 2013 Why do you think an infrastructure investment would fail when the underlying problem in the economy is a chronic lack of demand? Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 25, 2013 Author Share Posted February 25, 2013 Why do you think an infrastructure investment would fail when the underlying problem in the economy is a chronic lack of demand? Because the idea of jump start like that is that it trickles down. But if SME's can't get credit, they can't grow or expand so can't recruit. IMO, the credit crunch problem needs addressing first and then throw money at the problem if its still needed. When a lot of the problem seemed to stem from investment in overseas bad debt, I still don't know why British banks felt the need to over react in the home market and still do. Link to comment Share on other sites More sharing options...
Christmas Tree 3997 Posted February 26, 2013 Author Share Posted February 26, 2013 Boris throws a wobbly as the council refuse to question him over the budget Link to comment Share on other sites More sharing options...
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