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House Price Crash Forum

Peter Hun

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Everything posted by Peter Hun

  1. Thats an interesting point, it was trading at 300:1 today and 155 last night (according to the central bank, although it was reported to be 230 in Reuters etc,) By fixing it at 131 they are effectively making the currency worthless as nobody is going to accept it. A bank in receivership and suffering from a run is not valuable - its a liability. You will have to pay for another bank to take it over.
  2. You think investing in a currency that has fallen from 100 to 300 to a euro in a the space of a week is a good investment? What is wrong with building society's? Britannia are currently paying 6.3% - it was 7% a few months ago.
  3. Australia, even at the height of the commodities boom, had a large budget deficit (6% I think). Living beyond their means. Once commodities prices started falling there was a big sell sign on the Aussie.
  4. 230 króna to the Euro. Wow, it was 150 a couple of days ago That means the Yen has increase 3.3 time in a year. Imagine if you took out a Yen loan and it tripled in cost in a year.
  5. Aircraft will have difficulty using alternative fuels because most of them freeze or lose viscosity at low temperatures. The USAF is working on synthetic fuel but I suspect it will cost as much as oil based fuel. $150 barrel of is not 'nothing' to airlines. Ryanair spent 1billion euros in 3 months because they weren't hedged and prices were between $147-120. At $150 even Ryanair will be losing money, it over 50% of their costs. Most other airlines will go bust (excluding the big five - BA etc). Barcelona is 1137KM, plus holding etc. A Ryaair 737-8 would use 126kg of fuel per seat for a 1000km flight (http://www.flybe.com/pdf/eco_labels_make_own.pdf). At todays price (assuming $100, http://www.iata.org/whatwedo/economics/fue...itor/index.htm) it would cost about $126. At $300 a barrel it would cost $378. The difference between $100 and $300 barrel of oil to fly to Barcelona is at least £144 not £20. And thats a generous underestimate and using one of the most efficient planes flying today. Some other less efficient aircraft in service use 50% more.
  6. Well, that's what was said after the last property crash and here we are again. Give it 10 years and they will be saying property prices cannot fall and will go on rising forever. Its happens on 18 year cycles and has for 200 years.
  7. Not my bubble, my point is that many people knew the crash was coming.. well .. years ago.
  8. Gee, sell after a crash. Smart. Did he give this advice 6 months ago?
  9. There were talks over the weekend but nothing happened. Maybe tonight and then they might merge with Norway.. who knows.
  10. Krona is down against the Euro 23% today (even more against the Yen, in which many Icelander take loans), Iceland is going to default.
  11. The cover does not extend to UK products, its Iceland only. He's covered for the 50K as per UK protection. Also, the first £15K is paid for by the Icelandic Depositors’ and Investors’ Guarantee Fund, which only contains £88million. So if any major bank goes bust you might only get £35K from the UK government. Unless they die tonight. http://www.ft.com/cms/s/07113e40-938d-11dd...com%2Fhome%2Fuk
  12. Thats my strategy. MRE's too expensive and have a limited shelf life Tinned Corned beef has at least a 20year shelf life. Tinned ish has maybe 5-7. Oil keeps for 1 year, rice a couple. Flours (rice, wheat etc) has a much short shelf life than the raw grains. (wheat grains can be stored for 25 years). I keep spices in my fridge, grinding them in a pestle as needed - the seeds keep much fresher than ground spices. Low temperature increase the storage life of all food considerably.
  13. Because EA's ******** you - they serve the vendor - not the buyer. These other interested parties don't exist and can be ignored.
  14. Is it ethical to make money on a house sale or purchase? Either one or the other will be making a profit out of the transaction, the other, a loss (at some point in the future). This is the whole basis of the property speculative bubble, morals don't come into it because neither side has any.
  15. Fermented fish is common is Sweden. I bought a can of it and left it in the fridge for a couple of years before dumping it. Its actually banned from aircraft as the cans tend to explode and the smell takes the plane out of service. Its consumed with large amounts of Vodka. I suspect the Icelanders really do eat some of these dishes.
  16. Rice, beans, tinned meat and fish. I've built up several months supplies over the past three years, including cooking gas. I can switch to Calor gas at home very quickly.
  17. What relevance does the United States conversion to socialism have to do with the state future of capitalism, its not as if they invented it or do it best and this is a UK web site.
  18. Not, leverage, but http://www.telegraph.co.uk/finance/newsbys...prise-move.html Also, the June figure is out of date as they raised 4.5Billion in July. http://uk.reuters.com/article/businessNews...I71108720080918
  19. The figures for Barclay's have changed since June due to purchase of Lehman's - an shareholder injected more capital. The result is that Barclays are now the next best positioned bank after HSBC in the UK.
  20. Yes, move it. Personally I'm sticking with the large building societies.
  21. Thats impossible, there is a significant part of production that becomes uneconomic below $70. When the price falls below that there will be shortages again which will shore up the price. Even with all the talk of a crash oil is around $90.
  22. Just think of how much domestic strife a 5 year period of negative equity will cause.
  23. Why should we, or they care? They already $99Trillion of debt Since they rejected the first bill 70% of people contacting their senator have supported the buyout. $1trillion was lost off share prices in a few minutes. 700billion looks cheap (but then, thats just the starting figure)
  24. 45, Business Consultant Living in housing association paying £320 per month no debts, no mortgage etc.
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