Winseer:
Juddian:
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Do you think that wages will sky rocket like they did in the late 1970âs when interest rates rise sharply?
Anyone not being able to pay their mortgage (due to the new high rates) might deliberately default the mortgage, put themselves on the dole, and claim housing benefit for the new rented place theyâll be provided with.
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Do you know Winseer iâm buggered if i know, but i have me doubts, why should they**, i reckon some serious reduction in peoples expectations to make ends meet will be coming though, Sky TV, new cars, eating out, new clothes, foreign holidays, holidays at all?, stupidly expensive keep up with the Jonesâ presents for the spoiled kids etc all will be going, those who have loaded themselves with credit and lived for today instead of paying that all important house off are in for a rough ride.
I still had a mortgage last time which peaked IIRC at around 16%, sole breadwinner too and little kids to raise.
Things were different though, not so many rules and regs to prevent you working, at the time i was working around 100 hours a week, me usual truck work for bread and butter, then kerbside cowboying and weekend evening taxi driving to keep the wolf from the door.
Since those days weâve had 20 years of unmitigated uncounted even immigration so millions of people prepared to rough it will take those extra top up jobs that blokes like us used to do to make ends meet, and still coming unchecked despite all the promises by the current bunch of con men in Downing St.
I hope iâm wrong but i forsee far worse downturn to come than weâve seen so far, and far more money to pay back than they admit, and weâre still in growing defecitâŚFiddling while Rome burns?
It might all change cos NuLab mght just get back in again, in which case weâll borrow even more than the current record sums and thatâll push the defecit to Greek levels, who knows?, its all above my pay grade anywayâŚ
**why should they pay more i asked?..any bugger can now jump in our trucks and drive them, so if we wonât work whats to stop a foreigner jumping in our trucks and taking overâŚwe voted for parties that want us in the EU, well i didnât but most did, so we have no choice but to have all and sundry allowed in, single blokes will be quite happy to live all year in our globetrotters and super extra space cabs, they wonât be bothered about 15% mortgages, theyâll send the money back home and buy a decent house for half what we have to pay.
Bleak picture ainât it and i hope to God iâm wrong.