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MississippiJohnHurt

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Everything posted by MississippiJohnHurt

  1. perhaps they had just received a stage payment for a contract and the lenders thought it was as good a time as any - they'll have had a view for ages on long term viability (dunno if you follow but debt ratios looked horrible in this one). Lot of zombie companies out there who might find themselves in the same place over the next year.
  2. What would you like the government to do? Maybe they could pass a new law so that it's illegal to pay more than 5% under 2007 prices? Or they could force the banks to offer mortgages at 5% deposits? No, I got it now - they could lower interest rates to historic lows . Oh, hang on. Or maybe the people could do it themselves, homeowners turned price stabilising militia. Whole streets, towns, counties could get together and agree not to sell below peak price. They could have their own website, and special logo, and they could get together and agree on sanctions for those who break ranks. It could work. As long as there were regular patrols.
  3. This is the start of the big one, isn' t it? If I'm right, then the big tipping point will not only be unexpected source (check), but will have supremely poetic justice built in. Delicious. Popcorn time.....
  4. I bet a lot of people said that in 1935. But agree, the article was ********. Market was 5800 in April, the trend is clear and already established.
  5. I think they should limit cretins' ability to have opinions.
  6. So a search for yield drives people into riskier currencies when the "safe" currencies start yielding negatively. Definitely what I'd expect, but I'm not sure why this makes a bull case for the Euro, if one accepts the premise that it's fatally flawed. I was looking more for arguments as to why the Euro is viable, economically and politically.
  7. so a search for yield leads naturally to a fatally flawed currency? (or did you mean need search for an alternative shelter - same applies anyway imo). I can't really see the point of the Euro in economic conditions like these, but even more, I can't see how it can survive politically in economic conditions like these. Can see versions of it in future along obvious lines, but not as it is now, surely?
  8. plummet expert is spot on imo. I'd add to it that not only are the deficits bad for the weak countries economically, but the stronger ones won't be able , politically, to keep funding them anyway. So the economics and the politics are against it surviving I reckon. What's the bull case?
  9. disagree: when all of those people advise you not to buy, think seriously about buying!
  10. I wouldn't, not on this site at any rate - some on here seem very emotionally attached to their views and often call you stupid if you mention deflation!
  11. "Can The Uk Survive A Real Hpc?" Financially: not really. I should imagine the sun would still rise though. Britain has faced worse existential crises , not least one about 70 years ago which followed a similar economic crisis to today's, and which a lot of our predecessors lived through. So imo, of course the UK will survive, but it faces a really painful adjustment relating to its living standards and place in the world. And it might not be very edifying to watch at times.
  12. Your post seems to allude that there is another potential choice - what do you think that is, considering what the markets are doing to countries and currencies at the moment?
  13. OP seemed to be suggesting some kind of lobby group which aims to either strengthen tenants' rights or ensure that existing rights are better enforced, nothing to do with whether you've made the right financial decision. Re OP's point - from my p.o.v. I'm not so worried about the state of the place, as in my experience you can get a pretty good feel for that (and the landlord's willingness to remedy stuff) before signing a contract. But I'd like to see some kind of financial comfort given to renters - for instance why shdn't a landlord have to provide some kind of proof that they're not about to be repossessed? The landlord is allowed to get confirmation that you're employed and the wage you're on, so why can't the tenant get a letter from the landlord's bank saying that they're not in arrears (and noting the amount times they have been in arrears in say the last 5 years).
  14. Not sure I ever have banged on about it before, but I'm talking about global assets, not your tin of soup, and I'd be willing to take the other side of the trade from anyone who thinks they'll get more expensive over the next couple of years. Certain countries including uk of course, might see damaging inflation in the meantime based on their individual circumstances, but that doesn't meant that there's global asset inflation (unless you want to tell my why the vast majority of asssets around the world are not overpriced?). So the trend is deflationary (in my personal opinion, etc - I know that people who've positioned themselves for inflation seem to get very upset whenever deflation is mentioned but hey, it's a valid view too).
  15. Starve? As for Steve's inital post, I just think that it's catharsis time, finally. Policymakers' interventions are getting less effective each time, with a shorter half life per intervention. So I honestly don't think anything more can be done to stop the deflationary forces that have been apparent all along, but have been slowed/stopped/disrupted by all the interventions. IMPO it's just a case of seeing how it all pans out - no outcome seems too pretty and it's hard to see much past the first stage of any scenario. I'm currently all in on cash and not feeling comfortable at all.
  16. and you know what? People would just f*cking swallow it, and it would become the "truth", unquestioned, oft repeated, never analysed. Let Labour get on with it if they want I say. With what's going on in the markets, changes will soon be forced on us. All this feels like a bit of a sideshow when half the world is openly questioning whether the Euro can survive
  17. if i was a Tory I'd be hoping that Clegg gets into bed with Brown and a bunch of small parties. Markets would love a government dependent on special interest groups I'm sure. It would last what, 3 months tops?
  18. My limited knowledge of economic history (just the obvious ones, John Law etc) suggests not. But the previous crises I can think of were limited to one country, so you had a country which suddenly and noticeably made that country poorer compared with others. This time most of the world is in the sh*t together, and I don't know how that will play out in both the people's and ruling classes' approaches. I think I need to get a copy of "This time is different" to see if there are any obvious paralells to where we are today.
  19. What myself (and I think others on this thread) were getting at is that we are very quickly approaching the point of no return, and those in power are sitting there worrying about how best to shoot the messenger. This is what makes it obvious to some of us that this is going to end messily. You know: Nero, Rome, Fire (etc)
  20. +1. Everyone, from the most egregious debt monkey to the most pious money hoarder, is as exposed as each other. There's no good way to position yourself for events like this. And each day that goes past convinces me that things are going to get very messy indeed before they get better.
  21. My dormant but still existent faith in my fellow man would lead me to say no. On the basis that large numbers genuinely believed something as obviously wrong as that, then we're in even more trouble than I thought. Bet some estate agents are enthusiastically pushing the line though.
  22. yes I'm quite aware of how a ratings agency works and agree there are some very important conflict of interest issues that need sorting, but to suggest , as Barnier seems to do , that their "power" should be "limited" on a fundamental/legislative basis seems to miss the point somewhat - that is, these are just analysts, the power behind their views comes from the amount of people listening to them. For an official body to try and change that seems wrong headed, the people who shd change it are those who lose their shirts by following incorrect calls from an agency. So basically you and I are saying the same thing - that the market shd find a solution. Perhaps there's a gap in the market. Perhaps in 30 years the very idea of rating agencies will be laughable. Perhaps management and regulators of individual entities should be asking more questions about level of reliance on external analysis in making investment decisions. But whatever happens, the long term solution isn't people (esp Governments) rating their own or related parties' interests. Re government sponsored statistics always being crooked, personally I wouldn't subscribe to such a black and white view, but surely you would agree that a body which releases statistics about itself has an inherent incentive to massage those stats to suit its purposes ? That's certainly my working assumption and I can't see any good counter arguments to it. Healthy cynicism isn't the same as paranoia.....
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