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House Price Crash Forum


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About Mixle

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    HPC Regular
  1. Because bilateral/trilateral netting only works in theory. It is a zero sum game until it isn't. Some counterparties are more equal than others. In practice, a single default or refusal to roll credit can cause a wave that wipes out most creditors. http://www.zerohedge.com/news/how-us-banks-are-lying-about-their-european-exposure-or-how-bilateral-netting-ends-bang-not-whi To paraphrase that article, "If everybody is borrowing from each other, who’s ultimately going to pay for the losses"?
  2. http://www.myfinances.co.uk/mortgages/2013/12/14/bank-of-england-s-dale-says-no-rate-rise-until-wages-higher What changed last month? When central bankers get in sync, I worry. The naive options I can think of: they're going to let it hit warp speed, but publically avoiding blame or scoring for hindsight (more likely) they're going to try and walk the system down (less likely) Opinions?
  3. Denninger used to sound credible, but then he promoted Blackberry and talked down Bitcoin. Anyone who followed his words has taken a huge loss, and missed out on a big opportunity. Then he stopped posting financials and moved to pure politics. Now he is shutting down the site in protest every few weeks. Some evidence that he is indeed going mad.
  4. I wander thro' each charter'd street, Near where the charter'd Thames does flow. And mark in every face I meet Marks of weakness, marks of woe. In every cry of every Man, In every Infants cry of fear, In every voice: in every ban, The mind-forg'd manacles I hear How the Chimney-sweepers cry Every black'ning Church appalls, And the hapless Soldiers sigh Runs in blood down Palace walls - Will Blake
  5. What they actually said was they won't raise rates until it falls to 6.5%. Then they'll think about considering discussing raising rates.
  6. Unrelated to the internet outage, but still funny: "Nationwide to perform IT equivalent of 'replacing jet engine mid-flight" http://www.theregister.co.uk/2012/11/02/nationwide_mainframe_to_sap_server/
  7. If you only unwind the principal, yes. Now unwind the interest and see if there is any narrow money left
  8. NYSE powers up 14:30 GMT. But a lot of stuff is derivatives, so trades 24/5 anyway.
  9. Haha, if only I could predict how prices move
  10. Fed meeting minutes were released, and some members considered ending asset purchases in 2013. This means either the Fed lied last year about its 2015 and employent targets, or it is lying in these minutes. Dollar went up strongly against most things.
  11. Is the suggestion even framed correctly? £10/wk increase in food cost would be just as likely to cause someone to give up the car as a £10/wk increase in fuel cost. In the end it's the same fungible numbers that can't be spent on driving.
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