Simhadri

https://www.theguardian.com/business/2020/may/26/uk-recession-bank-of-england-economist-andy-haldane

I pray negative interest rates won't become a reality in UK. If it becomes reality, nobody will save. Not good for economy in long term. Banksters will be rubbing their hands in glee.

Got the bounce back loan for £20k. Definitely a great help to my business. Thanks to government.

Its getting mental. They are spending all their energy on propping up housing market while not reopening the economy. We may see shared ownership for banks in future in houses. A typical worker owning 100% of his home will become thing of past. We may see more punters and banks trading on shared ownership.

https://www.moneywise.co.uk/news/2020-05-21/interest-rates-could-go-sub-zero-how-would-affect-mortgages-savings How could negative interest rates affect mortgages? In theory, negative interest rates are good news for mortgage borrowers as they will likely result in lower rates. With negative interest rates the bank effectively pays the customer to borrow money, so it would mean paying back less than you have been loaned. For example, if you have a 25-year mortgage and paid negative interest rates, at the end of the term you will have repaid less than the original amount you borrowed. Last year in Denmark, Jyske Bank became the first bank in the world to offer a mortgage with a negative interest rate of -0.5%. Under the deal, borrowers make monthly payments but the outstanding amount is reduced each month by more than what the homeowner has paid. However, in practice the small interest borrowers make could easily be wiped out by loan fees and closing costs. David Hollingworth, associate director at L&C Mortgages, says that while it is unlikely mortgage rates will become negative if the base rate falls below zero, this could put pressure on lenders to cut rates further. He says: “Tracker mortgages have a 'floor' or 'collar' on the rate, which places a minimum pay rate on the mortgage and stops it going below 0%. “Standard variable rates and fixed rates are determined by the lender, so if the base rate falls we could see these rates drop.”

Applied for bounce back loan for £25k with HSBC as lender. Lets see how it goes.

Will world ever return to Gold backed currencies ? Or allow BitCoin as official inflation beating currency ? Seems some governments are dead against the idea of crypto currency.

https://news.sky.com/story/coronavirus-and-the-animal-markets-risk-why-stalls-selling-barbecued-bat-are-dubbed-the-pathogen-cafes-11991691

Wouldn't be surprised if English swallow their pride and vote SNP in England if SNP contests GE in England also. We've run out of options. Tory, Labour, New Labour, Heir To Blair.

Comrade Corbyn would have hanged every tax payer until they die. If Labour losing air's seat didn't convince Corbyn that he is useless, Tories will have their honeymoon for another 10 years.

Jobs site for British fruit pickers 'unavailable' immediately after minister urged public to visit it George Eustice (R) wants Britons to join the fruit picking effort this summer. Credit: PA/10 Downing Street A government website advertising seasonal fruit picking jobs for British workers was "unavailable", just moments after the environment secretary urged people to visit it. The website "Pick for Britain" - which George Eustice said contained fruit picking job adverts, showed the message "the service is unavailable".

Wait. Once Labour gets in, these numbers will double. Govt should reduce the benefits amount paid per person otherwise it gets messy. But with those numbers on dole, how did this happen ? https://www.itv.com/news/2020-05-19/george-eustice-leads-government-s-daily-coronavirus-press-conference/

https://www.aljazeera.com/ajimpact/bank-england-paying-borrow-money-200518195424328.html UK banks might start charging negative interest rates from next year, top economists are hinting.

So much illusion on this people waiting since 2000 for a magical crash. Hope is buying a property to save not paying rent instead of waiting all life renting into 60s and 70s.

Comparing UK with Spain today ???

British economy is much stronger than Spain. The capability of UK on global stage is more than Spain which is just another EU country. During WW2, everybody was predicting Britain will be under German rule as most of EU countries have surrendered to Germany. But we all know how UK fought back. Never underestimate UK.

https://www.dailymail.co.uk/news/article-8327221/Fears-Australian-housing-prices-surge-foreign-investors-look-snap-cheap-properties.html

https://www.reuters.com/article/us-health-coronavirus-britain-boe/bank-of-england-looking-more-urgently-at-negative-rates-riskier-assets-haldane-idUSKBN22S0VY LONDON (Reuters) - The Bank of England is looking more urgently at options such as negative interest rates and buying riskier assets to prop up the country’s economy as it slides into a deep coronavirus slump, the BoE’s chief economist was quoted as saying.

https://www.thetimes.co.uk/article/first-time-buyers-in-rush-to-find-homes-5rkjfkldx

Friend bought a house in Dartford for £305k 4 years ago. Got his valuation as £358k yesterday. Not sure if the crash is happening in England.

Difficult to swallow the shit mental gymnastics of this govt.

? spot on

Labour will be in next GE.

+1 Debt is money. Once inflation starts jumping, we'll see more and more QE. It's getting mad.

+1