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Stanley
Local Historian & Old Fart


36804 Posts
Posted -  14/11/2010  :  06:26
NEW VERSION TO MAKE IT EASIER FOR MEMBERS WITH SLOW CONNECTIONS TO CONNECT.

Follw this LINK for last version.


Stanley Challenger Graham




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stanley at barnoldswick.freeserve.co.uk
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belle
VIP Member


6502 Posts
Posted - 23/11/2011 : 18:35
Perhaps I'd better add a smiley to that incase it gets misinterpeted!!Wink


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Bradders
Senior Member


1880 Posts
Posted - 23/11/2011 : 23:22
Ooooph  ..... That was a close one  !

Easy there, boys and gorillas .......

 


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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 24/11/2011 : 04:28
Here's a Xmas card my mate Paul made and sent to me in 1995. You can see how upset I was, it is hanging on my wall to this day. (Made more attractive because it is made out of a pair of Jenni's tights!)




Stanley Challenger Graham




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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 24/11/2011 : 06:24
I'm waiting for it to become light enough for a walk. Listening to the report on the North Sea halicopter crash and they mentioned a 'magnetic detector' in the gearbox which failed. This is almost certainly just a nagnetic sump plug which picks up any loose metal circulating in the oil. When you change the oil there is usually a small 'beard' of very fine particles, all gearboxes wear slightly in use. It looks as though at an oil change they found a relatively large piece of metal on the plug and consuted the gearbox makers who, due to a misunderstanding told them it was OK to tun.

What strikes me is that when dealing with a vital component like a helicopter gearbox  this simply isn't good enough and one can't help wondering what part cost played in the decision. I'm biased of course, it was a similar decision based on cost that led to my son on law Harry being burned to death in his prime. The correct decision would have been to assume worst case, pull the box out and strip and inspect it. Someone failed the crew and the 14 oil workers who were killed. Cost or inconvenience shouldn't enter into decisions like this.


Stanley Challenger Graham




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Tizer
VIP Member


5150 Posts
Posted - 26/11/2011 : 11:51
I know that the Republic of Ireland has been hit much harder than the UK by the recession but I was shocked to hear this morning that house prices in Northern Ireland have dropped by 50% (fifty percent, halved!), dramatically more than in the rest of the UK.


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Bodger
Regular Member


892 Posts
Posted - 26/11/2011 : 16:52
Tizer, the houses you refer too , pre boom time they were worth normal price ie 150 / 200 k, the prices doubled +, you could sell a semi in Dublin for 300/ 400 k, and buy a 5 bed det. in the country, now prices are halved, but only back to realistic prices i e, back to where we were


"You can only make as well as you can measure"
                           Joseph Whitworth
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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 27/11/2011 : 05:48
Classic example of a property bubble and some commentators argue that this is what will have to happen in UK in order to get the housing market moving. Problem is of course negative equity, a very large bullet to bite. The anomaly is that the most expensive houses, selling to the wealthiest buyers, are going for pre-recession prices. Plenty of money about at the top of the tree. A friend of mine has recently sold such a property to a Singaporean banker. No haggling, he set what he thought was a ridiculous price and the sale was completed within six months. Draw your own conclusions....


Stanley Challenger Graham




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cloghopper
Regular Member


88 Posts
Posted - 27/11/2011 : 08:54
Have recently been downloading and watching some of those 'Homes under the hammer' TV programmes. Have been continually surprised at how many people out to buy houses in the auction rooms, and how cheap property of all types is selling for. Here in Italy, where over 75% of the population own their own property, and mortgages are rarely more than 30/40% of the property value, if at all, prices are very high and holding. It's diffcult to make a direct comparison because locations and the property type are so different. The open auction is unheard of - auctions are a very bureaucratic 'sealed offers' legal process.

cheers,

cloggy

 


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Tizer
VIP Member


5150 Posts
Posted - 27/11/2011 : 10:18
House prices here in southern England doubled between 1995 and about 2001, and had trebled on 1995 prices by just before the 2007 recession. They eventually dropped back perhaps 10-20%, depending on region and for flats more than houses. It took a couple of years for estate agents and sellers to get it through their heads that they wouldn't sell unless they dropped the price, hence stagnation during that time. A major factor in the price bubble was the buy-to-let market, people taking out multiple mortgages to buy property and rent it out, and the greedy willingness of the banks to give them these mortgages even though it was obviously going to end in tears. This is also a reason why prices are not dropping back as much as you would normally expect - as well as the usual unfortuate (or sometimes greedy) individuals in negative equity there are many serial buy-to-letters unable to sell and therefore demanding high rents in order to pay their mortages. As if that isn't enough the housebuilders are stuck with unsold property (and vast land banks) and unwilling to let the prices drop. They'll let go the odd 10% perhaps if in dire straits but 50%? No chance. So we're in Catch 22, with the housebuilders demanding that the government bails them out by making it easier to get mortages so they can still sell at the high prices.

Edited by - Tizer on 27/11/2011 10:22:58


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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 28/11/2011 : 06:47
Exactly right Tiz and part of the greater political problem, the inability to face up to the uncomfortable truth that we have created an economic bubble and it has burst. Problem is that the large capital holders have access to govenment because they fund the parties and they are fighting tooth and nail to protect themselves from the inevitable re-adjustment. This means of course that it will not be 'managed' but when it comes it will be a chaotic default. This, in a nutshell is the problem with the Mediterranean countris and they are only the tip of the iceberg in global terms. In the end, economic forces will prevail, the correct course is to accept this and manage it. This is what is not happening.


Stanley Challenger Graham




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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 28/11/2011 : 07:38
News this morning of an investigation done by a NY journalist into the Strauss Karn affair. Early days but it's tending to support the maid's account of the incident and points towards a cover-up. The French are dismissing the evidence but there is more to this than meets the eye.


Stanley Challenger Graham




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Tardis
Regular Member


453 Posts
Posted - 28/11/2011 : 14:46
A bloom volunteer tackling the grassy bank along the Butts, cutting back the over growth


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Tizer
VIP Member


5150 Posts
Posted - 28/11/2011 : 16:57
Stanley, your `large capital holders' rings a bell. After I wrote that post about the estate agents and housebuilders, Mrs Tiz told me I should have added the big banks because they have enormous amounts of money on loan to the builders, so if house prices halved the banks would be in negative equity. And we can't let banks fail, can we?


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Stanley
Local Historian & Old Fart


36804 Posts
Posted - 29/11/2011 : 06:31
Tiz, I have this subversive feeling and no doubt pre-revolutionary urge to let a bank fail and see if the sky falls. Isn't it strange that the normal workings of market pressures are seen as OK by the banks when a business fails but as anarchy if it is a bank. Sauce for the goose and gander?


Stanley Challenger Graham




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Tizer
VIP Member


5150 Posts
Posted - 29/11/2011 : 09:54
Yes, there were two good articles by Patrick Hosking hidden in the depths of The Times business pages on Saturday. One was about Lord Haskins asking "If you can be jailed for reckless driving, why aren't bankers being jailed for reckless banking?" and the other a story about how bank lobbyists are so powerful now and are strongly influencing government to suit their demands.  They were put on the same page, possibly because the second answers the first.


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