Quicken

Yes. Just in time for a reckoning on those PREDATORY LIAR LOANS!

He had about 30k posts IIRC. Prolific

Mumbles surely. It was the place he always talked about.

Welcome back. I've taken time away too, but I've been back here more regularly this year. Ready for this post GFC alice in wonderland economy to return to reality with a bump. Interesting times.

It'll be 40% in a year if the base rate goes to 6% and mortage rates rise accordingly. Prices being set at the margins (FTBs) and all that. You're pretty new here. Estate agent or BTLer?

LDIs. I've seen the word panic thrown around, but a cascade of margin calls are not panic, just dominos falling.

Being financially independent is wealth. Being on a supposed pathway there is not and never will be.

Hmm. But you said pensions didn't used to do this finacialised shit Scott. Did they get hooked on it due to ZIRP yield chasing?

Like you, I instinctively think that it is very wrong for Pension funds to be playing with leverage. "Our model shows this is safe as houses provided yields don't ... Oh sh*t the model was WRONG!"

Lottery. Works every time

Pension funds should be regulated in how much leverage they can use (If they're to be allowed to use leverage at all).

Says who?

I prefer "Hope is not a strategy", Nomura.

I mean the movie. Imagining Halifax bankers up all night working out what to do as the credit market goes outside of any of their models.

As I said in another thread, I'm getting Margin Call vibes here.

I'm getting Margin Call vibes on this one. Suddenly everyone is pulling mortgages.

I reckon it's once it gets below 1.054 GBP:USD (the Feb 1985 all time low after floating in 1971). https://www.keycurrency.co.uk/gbp-to-usd/

Very nice. They're liberating the bankers from bonus caps and top levels of tax. Later they can run a referendum of bankers to see if they approve.

Actually, if it drops below 1.054 it'll fall below the 1985 low that currently means it's the lowest in 37 years. That would make it the lowest since it floated in 1971. Incidentally floating GBP was introduced under Anthony Barber, 'as a temporary measure': https://en.wikipedia.org/wiki/Anthony_Barber who also holds the record for the biggest tax cutting budget in 1972. It didn't end well. EDIT: typo

Surely the emergency trigger would be dollar parity. Massive psychological barrier.

The old raise, re-raise, all-in move. I'll be chuckling if I see that. I need some humour because this has been a very bad day for my share holdings. Thanks Kwasi.

So this non-budget is being called a 'fiscal event', a term that brings to mind an extinction level event given how bad it is. Easily worse than any budget I can remember - Impressively bad on all levels. Also a massive two fingers to levelling up. That was so last year.

So this non-budget is being called a 'fiscal event', a term that brings to mind an extinction level event given how bad it is. Easily worse than any budget I can remember - Impressively bad on all levels. Also a massive two fingers to levelling up. That was so last year.

This is the new 'Whatever it takes' era, but this time with inflation. Interesting times.