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House Price Crash Forum


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Everything posted by nuts

  1. just pulled nearly £100k from a nationwide ISA. Irrespective of the financial outlook, an interest rate of 0.25% coupled with a 1 withdrawal per year limit is simply not worth breaching the FSCS limit.
  2. uk banks will not be allowed to go bust. but I do expect some changes of ownership as failing entities become either state owned, state backed or amalgamated into other institutions. we may also see some disincentives to hold cash, such as fees or even negative rates (in places)... in an attempt to get people spending
  3. what nonsense this thread is. tax on savings could cause a run on the banks. even if implemented as a dawn raid, savers would be wary of a second grab. esp in a near zero or negative interest rate environment. unless the government plans to implement capital controls at the same time. ...at which point, they and the UK are toast.
  4. Mate of mine has around 2-3K cash stashed in his house. Wish I had that sort of float... but looks like it is worth drawing a few bob from the ATM tomorrow.
  5. I actually disagree. The chap obviously has made a mistake (or two)... but he recognises this and is (quite reasonably) warning others not to make the same mistakes. I actually found the video fairly honest. oh and BTW the Fiesta ST is a fairly nice car. It just can attract the wrong sort of attention - thieves etc. That has always been the case with small hot fords.
  6. if...hypothetically... he owns the properties in a limited liability company then he cannot lose. the lenders get to swallow the debt if the business fails ...or have i missed something ?
  7. messed up the future economic prosperity of the UK. does that count ? our kids will be paying for brexit, triple lock pensions, house price inflation for the rest of their lives.
  8. The T.May Tories cannot deliver grammar schools... or dementia tax... what chance have they of succeeding with brexit ? History will judge the unholy mess that they have created and they will suffer at the ballot box for decades to come for causing the disaster that will now unfold. The best outcome now is that they throw in the towel, call an early election and let somebody else preside over the outcome. (and I am not a labour voter).
  9. So I will just buy less, shop for more bargains. Not gonna spend more. The economy can either get more efficient ... or contract in size.
  10. there will be no crash. just a debasing of the pound as money is printed to keep rates low. houses will still be unaffordable for many.... but many things that we take for granted will inflate in price. my prediction. no HPC but £1.50 per litre petrol, food inflation at 10+ percent (esp for foreign food), the alternative would be political suicide
  11. So an increase....and presumably the FSCS funding obligations have also been adjusted accordingly ?
  12. Gonna hold my ftse position at the moment. Whilst there is a risk of falls,. I am expecting sterling to fall hard when article 50 is invoked. Ftse is still a potential hedge against falling pound
  13. http://m.bbc.co.uk/news/business-33303304 ecb lifeline ends this is the end for them. non ? capital controls imminent
  14. There are a couple of problems with the retiring on a limited income at age 45 strategy. 1. You cease to amass any meaningful additional pension provision or any meaningful additional capital or earnings potential. 2. You run the risk of being left high and dry, if we get a period of inflation or high taxation and your current existence becomes unsustainable. Who would employ a 55 year old who has been out of the workforce for 10 years ? 3. It is not really contributing is it ? The reason the EHIC scheme works (as a reciprocal arrangement) is because it is tax payer funded - it is intended to transfer entitlement between EU states (not give a free ride for those that don't want to contribute in their home country). I understand the temptation... but it is not without drawbacks.
  15. It would be a) Political suicide to allow depositors to lose funds. b ) Have a knock on effect to other banks and businesses. c) Cause massive realignment of deposits away from other unaffected banks who might also (rightly or wrongly) be considered vulnerable. I sense an opportunity for Virgin money to step in and pick up the assets at firesale prices...
  16. I owe you £10.. I pay you back in my printed cyprus pounds at the official exchange rate I go on printing and debasing Net effect is that ... I no longer have the debt... You have a pile of worthless paper.
  17. Maybe in time as a parallel currency.. But they need to pay workers, trade etc... You can,t do that without some form of liquidity. Also they could force convert from euros to Cyprus pounds at a poor exchange rate.. and clear their debts in that way.
  18. Cos they would need to print money. You cannot just print euros. You need to sell bonds. ... Which seems unlikely So naked money printing of Cyprus pounds
  19. QE will devalue the pound Import commodity prices will rise sharply. This will cause inflation. Merv will shrug his shoulders and blame unexpected rises in world commodity prices for our predicament. Rinse and repeat. .....Ad nauseum. He will have an index linked pension... so why does he care ?
  20. At times like these, it is important to remember that the BoE governor is an Ass Clown* *Ass Clown 1. One whose stupidity and/or ineptitude exceeds the descriptive potential of both the terms ass and clown in isolation, and in so doing demands to be referred to as the conjugate of the two.
  21. Poor customer service and a dodgy parent company. A winning combo ? I'm out.
  22. Now I do disagree... at least starbucks use a fair shot of real coffee... mcdonalds coffee is sooo weak.
  23. £1.50 for a tall filter coffee drops to £1 if you pay with a starbucks card. But this is Filter coffee.. not espresso ... IMHO not as nice. Still at £1 a cup and free wifi then you can't really go wrong. Most starbucks cannot do a good "flat white" (the most difficult coffee to master) which is my acid test of whether they are competent baristas.
  24. Not a chance... it is the "last day of term". There will be v.low volume and it will be quiet.
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