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About NeedSpace

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  1. Boom and bust is a fundamental part of the capitalist system. All these clever bods in the treasury/BoE trying to end the busts...is like trying to cheat the grim reaper. We needs busts to aid creative destruction, to kill off the ailing businesses. QE and ZIRP is similar to trying to stop all forest fires, you store up an enormous forest fire for future with all the unburnt kindling. What we have now are a large number of corporate/individual zombies. Leveraged up to the eyeballs. No idea how we fix this, without serious pain.
  2. First Direct (and others) are offering offset mortgages... wouldn’t they be considered OO IO mortgages if you just pay the interest?
  3. unfort - these rates are USD LIBOR. GBP LIBOR is as follows: 1m 0.22% 2m 0.26% 3m 0.289% 6m 0.42% 12m 0.607% Even looking further out along the interest rate curve, interest rate swaps (which fix against LIBOR) are showing 5y 0.745% & 10y 1.09%. I am not saying these are right, but just shows a market and where people are putting money where their mouth is.
  4. On the one hand I agree that politicians will start paying attention to the young. On the other, I think May showed that messing with peoples houses (the Social Care policy), can hit their vote.
  5. The standardised price per Halifax in April 2016 was 211,821. Followed by 214,115 in May 2016 (a +1.1% uptick). The 211,821 will fall out of the YoY calculation, so even without falls in the real world right now, I'm expecting a downward trend.
  6. Agree re the unfairness of a nominal arbitrary cap. If the consultation recommends a cap in % terms, this should be more progressive.
  7. Did prices actually fall though, did they in fact rise - but were seasonally adjusted to a fall?
  8. Because of currency basis. The forward FX rates take implied interest rates into account. I.e., whatever you make on the differential of interest rates, you will lose as FX rates move against you (assuming all other things are equal).
  9. i read quite often, the narrative that QE gifts money to the city.. As much as I hate QE as much as others, I actually think this is as much a curse to bankers as to the man on the street.. QEs purpose is to flatten the yield curve. lets assume it works (there are arguments about this that we should put to one side, also the diminishing returns of doing this)..but anyway... Bankers, in general (apart from fee charging), make money by borrowing short and lending long. A flatter yield curve directly hits their profits....
  10. Its the hedge fund management company, usually a limited liability partnership that goes 'bust', not the hedge fund itself. The hedge fund is usually an offshore entity controlled by the management LLP. If the fund suffers enough redeptions (due to poor performance), the LLP is no longer viable - and goes bust. The investors themselves dont suffer from this, apart from the poor returns.
  11. What if the rich being referred to in that link - are also the boomers...
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