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House Price Crash Forum


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Everything posted by Fishman

  1. The Chinese economy. Built on fake goods. No surprise their economic numbers are faked as well.
  2. Surely this means the Pension companies will have to completely revise their investment strategy ? How will they calculate how much cash will be needed to pay out to people who will retiring in the next 6 months ? Does it mean more volatility in equities ? I'm not worried because I'm sure HMG will have taken advice on the long term prognosis for this policy....
  3. But what about Local Councils ? They have millions in reserve (well they have in the past maybe not so much in future years ) - where do they park their cash ? And large cash-rich companies (big retailers, etc) ? And pension/insurance companies that keep cash as part of their portfolios ? Will we see thousands of banking licenses granted (a la Siemens) to holders of large deposits so they can protect their cash ? Unless of course it's all part of the plan to force depositors with huge amounts of money to buy Government bonds and keep the price high/yield low.
  4. But ultimately the burden STILL falls on tax-payers. But not ALL tax-payers - just those who happen to have large deposits in the failed bank.
  5. Correct me if I'm wrong, but surely all the gold and silver that was nicked from The Americas in the 16th century simply devalued all the stock held in Europe ? Or is that too simplistic ?
  6. King knew this was coming hence his position in recent MPC meetings to increase QE. He'll be telling everyone today 'I told you so'. When the biggest buyer in a market makes it known he's not IN the market, well it's obvious prices are going to fall. Not catastrophic in most scenarios but it is in this case as Government borrowing costs will rise which means spending budgets will have to be decreased further. Maybe it's an experiment to see how markets react when the Gilt market is not underwritten by BoE. Well we have our answer.
  7. Quick companies house search shows the lady owner in question has recently set up another limited company (in May) with a similar name. She'll probably sell all the equipment to her new co. and leave the creditors high and dry. She's obviously learnt from the big boys......
  8. Consider it a form of a modern day dowry - except parents have to pay to get rid of all their kids.....
  9. For many small businesses the concept of limited liability does not exist. Banks are wanting personal guarantees from directors even if business assets seem to cover any borrowings. Directors are telling the banks to do one. We all know the banks can borrow from BoE at 0.5% via FFL, yet want to charge high interest rates as well as having the personal guarantee. Result: stalemate and no business investment, so no growth.
  10. Laura Kuenssberg (ITV economics editor) tweeted today FSA and Bank of England announce new rules to make it easier for new banks to be set up... Looks like we're going to see some large organisations setting up their own banks purely to deposit their own cash. This will speed up flight from risky banks and quicken their demise.....
  11. Didn't the National Audit Office advise some councils to put money on deposit in Icelandic banks prior to their crash in 2008 because they were paying better rates? Cyprus have been offering better rates as well.......surely not ?????
  12. Possible for small business and charities - although will make more admin work. However, it would be unworkable for large business,pension funds and charities. These organisations have potentially millions on deposit - trying to spread these amounts amongst un-related banks to keep under the insured threshold will prove nigh on impossible.
  13. What about businesses, pension funds, charities etc? All have potentially large deposits in banks - what else should they do ? Stick it all in a safety deposit box and hope no-one nicks it?
  14. http://www.eurozone.europa.eu/newsroom/news/2013/03/statement-by-the-eurogroup-president-on-cyprus-25-03-13/ Dijsselbloem back tracking now and getting pelters on his twitter account
  15. I've just bought an extra large latte and a muffin from the café nearby.....
  16. Does he realise what he's saying ? He's just put the willies up any individual/business/charity with more the £85k or 100k Euros Use it or lose it.......
  17. Looking at those photos of the queues you can see the British influence on their culture.......
  18. It's a cash only economy until further notice. Who'd accept any other form of payment?
  19. Latest from DT 14.07 Cyprus has reportedly ruled out a bank levy, but the view from the eurozone is quite different. A senior eurozone official has told Reuters that Cyprus should impose a 12pc to 13pc levy on large deposits and nationalise its pension funds to raise the requisite €5.8bn needed to supplement the €10bn troika bailout. He warned that the alternative would be much worse - that Cyprus would have to wind down its biggest banks, wiping 30pc - 40pc off uninsured deposits (those above €100,000), ultimately risking a eurozone exit. Now I take if these pension funds are private funds held in Cyprus ? But as most of the pension assets (I assume) are held in equities, properties, bonds in other countries how does the Cypriot Government get their hands on it ?
  20. And here's what you can buy for £475k round these parts.... Does work force you to live in the Cambridge area ? http://www.rightmove.co.uk/property-for-sale/property-34070516.html and here's what £125k can buy http://www.rightmove.co.uk/property-for-sale/property-32632541.html
  21. In fact, Mervyn King's statement last week that signs were showing the worst is over and we can look forward to gentle growth, will be used as further evidence to blatantly lie about future GDP growth. (It's Merv's last gift to HMG before he retires and takes his inflation-proof gold plated pension). Because if they admit they expect no growth then they have to budget for the deficit to widen, debt to increase further. Ratings agencies will downgrade us again, implied interest rates on gilts will rise and it could be goodnight Vienna.
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