Bank on St Pancras Eurostar to save the city but not housing equity despite Barclays and Northern Rot

St Pancras looks magnificent, and it is but at present it will only benefit the City.

Even Barclays will have bonus's to spend on taking the strain by train to Paris et al

But Eurostar St Pancras will not slow the housing market crash that Nationwide at last seem to have acknowledged

American sub-prime made Barclays Capital write off £1.3billion yet they still show a group profit - maybe they were charging too much in the first place?

Citigroup Merrill Lynch didn't help Northern rot but now Applegarth and others have had to go - does anyone know who might have bought it, well the profitable parts at least?

Recessession - best get used to reading it, spelling it or saying it because we are going to hear a lot about it - just that the Government (and Bank of England to a certain degree) have thier head in the sand thinking that if they do not use the word, the R word, then either they, or we, or both, won't have one! Gordon is a moron, Gordon is a moron, and Alistair is a moron and Darling is a moron!

Plonker Gordon Plonker Alistair Nasty Tony - go on, let them sue if they disagree, go on!

Northern rot Merril Lynch Citigroup BofA Blackstone

Seems Northern Rock debts may last in to 2010 since the 'advisory' forum of Merrill Lynch Blackstone and Citigroup reckon £5.9 billion pounds could still be outstanding even 3 years hence.

Mervyn King seems to be personally annoyed, if not shaken at the fire directed toward the BofE over and post the Northern Rot fiasco - quiet wrongly we think (ish), pray tells us please, Gordon Brown and or Alastair Darling - do they have accountancy and or economics degrees and then so pratcial experience?

Inflation Up House Prices Down Consumer Spending Down Mortgage and Personal Finance trouble ahead - Recession?

So, figures this afternoon and this evening just confirm what we at MyCbi have been saying for months - Now, will Mervyn King and the MPC dare put rates up again to control inflation?

Egg prices have increased by 25% in the last year - we presume this is a typical retail price whilst overall dairy products, milk, cheese and eggs collectively up by 11.3% on this time last year and bread and cereals up 4.6% and all of this is relevant to mortgages and personal finance, business and commercial too.

The recessession is here and will be far worse than necessary if Gordon Brown or indeed his selfish puppet dailly and dally, again - we say let Mervyn King and the Bank of England get on with it, keep politics out of the actual till and keep the FSA purely as a source of information from the markets and banks on an internal basis.

Consumer spending is down and will continue to fall, we think

Inflation at 2.1% isn't so bad it can't still be controlled (increase from 1.8% on the month) but any more 'severe' increases could be lethal - .3% does not sound a lot, but if that were each month then simple is it 3.6% that inflation risies within a year, to what, 5.7% - Gordon would be out if that happens!

Tony Blair knew this was coming, so did Gordon but was he so hungry for power that he took the job anyway, sod a party leadership vote and if we cannot waltz an election, forget that too - seems, it appears, that it is hang on to what they can for as long as they can.

House Price Slowdown - Experts

So now the experts say there are clear signs of the housing market slowing and prices falling in many parts - pah!

Will they call me/us experts please? And pay us the same or more than they get? We said last year the crash would arrive in 2007 and it started months ago - blithering idiots or con-men - either they do not know what is going on or are just trying to hide the crash for thier own ends

Check out the reports and graphs at Housepricecrash.co.uk and you'll see what we are banging on about

Please, readers, let us hear your views and comment on this property market - and the jobs issues and eceonomy general please