Take Me Back To London!
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Posts posted by Take Me Back To London!
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27 minutes ago, zugzwang said:
It's forty years of free market capitalism that got us into this mess! Osborne and Cameron could and should have repaired the roof but they kept on digging, fatally undermining the foundations by using to public money to underwrite an echo housing bubble and gift their criminal friends in the City of London with a decade-long rolling bailout and profiteering opportunity.
It was the same with Blair and Brown as well as in the US with Boy Bush, Obama and Trump using tax payer funded socialism for the big boys and capitalism for everyone else.
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7 minutes ago, zugzwang said:
Fantastic nonsense.
The UK went through an enormous recession 2008-10. The effects of which continued to negatively impact the economy more than a decade later.
The recession that should have happened in 2008-10, to clear out the dead wood as crumbingcon pointed out, never occured due to unprecendent, at the time, co-ordinated interventions of central banks and we ended up with a zombie economy which your chart shows.
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21 minutes ago, crumblingcon said:
I have a nasty feeling as well that when flights start returning that they are not going to be cheap
I suspect your nasty feeling is going to be right, there will be less choice and higher fares. COVID-19 and its after effects ticks the box for cutting back on air travel and global warming. Greta Thurnberg must be on furloughed wages now.
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7 hours ago, TwoWolves said:
We are looking to lose about £4,000 in air fares as they each will only offer vouchers with short redemption periods to places where the hotels are likely to either go bust or become undesirable/unaffordable within the redemption period.
Hope the bastards go bust.
Did you pay with a credit card?
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On 03/05/2020 at 13:02, crumblingcon said:
Still amazes me people are not using Lidl, I love them, quality of food is brilliant, and I still am amazed after all this time what I walk out with after spending 50 quid. OK, you cannot get everything there, but I am pretty sure I manage 90-95% of everything I need and just make the odd visit elsewhere once in a while, no problem
Don't worry crumblingcon, rest assured you will be reporting back in the months ahead telling us how busy your Lidl is. You will be rubbing shoulders with the middle class glitterati of Putney and Wimbledon as they shop to make every penny count. The days of plenty of easy come money, easy go spending will be a distant memory for much of the SW15/19 elite.
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As well as Branson's Virgin, Gatwick Airport could lose British Airways and Norwegian Air Shuttle.
QuoteBritish Airways may close its London Gatwick hub to cut costs and adjust to a sustained drop in demand in the wake of the coronavirus pandemic, the BBC reported, citing a letter to pilots from management.
The memo from the head of the carrier’s Gatwick operations says there’s no certainty that flights shuttered at the start of April will ever resume, according to the broadcaster.British Airways currently operates a dual hub system, with leisure-oriented flights from Gatwick complementing a business-focused operation at its larger Heathrow base. Losing BA would come as a blow to London’s second-busiest airport, especially since two more of its biggest users, Virgin Atlantic Airways Ltd. and Norwegian Air Shuttle ASA, are struggling to obtain state bailouts.Anyway, Gatwick Airport could always downsize back to it's original 1930's terminal.
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30 minutes ago, neon tetra said:
Thanks for this post - it covers a lot of different angles. I think speculative demand could drop rapidly - no longer a safe haven. And some of the second homes may need to be sold for cash flow reasons - even if they don’t cost much in interest payments, the owners might still need the 80k capital that’s in them.
My hope is that these will happen quickly and that there will be aggressive pricing, as no one wants to be trying to sell next year at 10% falls and nothing selling - better to take 5, 6, 7% hit now.
Probably wishful thinking from me however...
I think you may some good points there. I can see there being heavy discounting of high value assests such as second houses as people find themselves without or on reduced incomes and needing to pay off debts. The only wishful thinking on your part is that those house prices falls you quote are too small. However, with this lockdown situation and talk of a second wave and for COVID to return every year, then second homes could become more desirable than some first homes in the cities and people relocate, if they can, to be under house arrest in a property that is more spacious and/or has good open space.
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The lockdown looks like it is going to continue for a few more months and they are prepping us for continued vigilance and a second wave lockdown. The market opens again after August for 2 months and then we are back under house arrest.
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38 minutes ago, Riedquat said:
No change is inevitable. Some are very, very likely. More than some in fact, a great number of them. And the future looks crap because of them so I wouldn't be in a hurry to label accelerating them as a good thing.
There are going to be restrictions on travel, the big coporarations increase their market share squeezing small and medium businesses, no respect for a private citizen's privacy by tracking of every movement and every transaction no matter how trivial or mundane.
Welcome to the Village.
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3 hours ago, nome said:
Royal Mail have been after reducing the USO for delivering letters from 6 days a week down to 5 (which would result in around 20,000 job losses)
Looks like they've sneaked it in through the back door courtesy of CV-19 by ''temporarily'' suspending Saturday letter deliveries.
+1
I think that is an excellent observational example and comment. I believe that COVID-19 will be used as an excuse to change many things permanently, under the guise of temporary measures in some cases, and to speed up changes already under way in society.
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3 hours ago, bear.getting.old said:
God help them
Give the man some credit, he did save the World from financial collapse in 2008.
Now he can save Wales and he has all the gear to be Scott Tracy of International Rescue.
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8 hours ago, Orb said:
I'm not sure, but I shall ask him when I'm next in contact, and put that to him. It'd be great if he turned it on the scumbag and got him to pay my mate his whole deposit back and £1000 on top, and got hammered by HMRC
What his fingers smashed with a club hammer by the tax inspector?
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43 minutes ago, crumblingcon said:
Wasn't Airbnb first started on the basis of just renting a spare room out?
If so and you start playing the big I am and borrow s*** loads of money on what is always a business gamble then are we again talking moral hazard here. OK, good luck to some of the people trying to fill their boots and make a few quid, but do we all have to keep on bailing these failures out everytime one fails
Those in SW19 who rent out their houses for the Wimbledon tennis tournament for 4K plus a week will not be cashing in this year.
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6 hours ago, Warlord said:
Don't worry mate. The crash will happen. They won;t be able to prop it up this time like the did in 2008. We will see some steep declines.
It will all be over very quickly and the HPC is adverted due to the intervention of these two.
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3 hours ago, crumblingcon said:
The only trouble with the Greeks is that you had to stay well clear of the Greek girls Dads, hand on heart I once had a Greek Dad chase me through London when I was 17 in his Taxi threatening to kill me, I never squared up to anyone again unless I was prepared to follow it through because of that incident.
Next time remember to use the Micheal Caine/Get Carter technique (at 1 min 10 secs in the video) if Mr Stavros starts to get out of his taxi to get you. ?
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31 minutes ago, crumblingcon said:
Route master cheeky b****** ?
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After the lovely Routemasters, which were like charming old English pubs inside, there were those noisy, vibrating Weetabix boxes, the Daimler Fleetline on the 93 which I travelled on as a kid from Putney to see the Christmas pantomime at Wimbledon.
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On 29/03/2020 at 13:32, 2buyornot2buy said:On 29/03/2020 at 15:14, nigooner said:
Surprised to see these look so dated!
+1 It looks like it's from the TV series The Professionals (1977-81).
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On 21/04/2020 at 09:37, crumblingcon said:
I was going to keep my age quite? But I just about remember this so called "winter of discontent" days in the 1970's. But what I remember is by using my pocket money alone, going to watch live football, OK I grant you it was Wimbledon, going to Sat morning flicks, getting on the 93 bus to Putney via Wimbledon common.
Was that by London Transport RT or RM?
RTs on the 93 from 1953 to March 1976.
RMs March 1976 to Sept. 1982
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3 hours ago, regprentice said:
Interesting to try and understand the balance sheets of the large oil Majors. Their assets are largely retained earnings and plant and land that only has a value because of the value of the oil underneath it. If they are willing to leave oil rigs standing derelict in the North Sea rather than decommission them, then presumably the majority of plant doesn't even have a scrap value over and above the raw metal.
It reminds me of the bank stress testing scenarios the BoE do, though I doubt anyone at any of the Oil Majors would have had the balls to suggest this sequence of events. For the first time in history the CEO of an oil major is looking at an electric future with a decline in oil use, prices hammered by a 70s style oil war between Russia and Saudi Arabia, a pandemic reducing oil use by 70-80% (?) which has caused all his oil storage facilities are full causing his product to have a market value that's negative.
God knows how they would prepare a set of accounts if the oil price was negative on the final day of a reporting period.
Excellent points of the far reaching consequences to the oil industry. Yes, this is massive, added as you say the electric future facing the oil companies. The North Sea oil rigs would have to be put into a regime of care & maintenace or they will become scrap which would be a massive enviromental scrapping cost liability, if done to current practices. Oil rig supply vessels would have to laid up as well. Another knock on affect will be for the oil refineries that would have to contract production or close down with something like a 85% reduction in the demand for transport fuels for a start.
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4 hours ago, cbathpc said:
Points for me
Bravo, that was a good call and as Bruce Forsyth would say "What do points mean? - prizes!" It takes me back to 2007 when it was called out here on this forum about Northern Rock Bank lending like there was no tomorrow and had built up a large book of subprime mortgages that was going to blow up in their faces and 6 months later it did.
The Great Northern Rock Bank Run of 2007.
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All 60 Cath Kidston shops now permantley closed.
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On 20/04/2020 at 20:32, what said:
Crude Oil has collapsed.
Wow, WTI has literally gone through the floor after dropping 55 dollars/148%, now at minus $37.63, and heading for the core of the Earth.
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22 hours ago, The Preacherman said:
Thanks for posting The Daily Mash news article, so nice to read those humerous articles, especially with all the COVID stuff going on. I liked the other 2018 article about WH Smiths modernising by embracing video rentals, VHS and Betamax cassettes, stocking the latest titles such as - Beverley Hills Cop 2, Gremlins and Lethal Weapon. ? Great stuff.
Will Corona virus cause a house price crash?
in House prices and the economy
Posted · Edited by Take Me Back To London!
+1
Yes, it was another era back then and might as well be a different planet. In just those 25-30 years how things have gone unimaginably insaine.