nero120

Time to take the meds grandad.

I live here. It's always f-ing packed RAIN or SHINE. Not today though.

I'm currently out in St Albans, at lunchtime and Starbucks on the high street was DEAD!! Never seen it that quiet before, St Albans is always heaving come rain or shine. For it to have been that quiet on a bank holiday is unheard of!!

Huh?

Not exactly correct. Capital controls restrict the flow of capital, I doubt many Chinese are filling their pockets with bullion and attempting to skip the country! It's probably more because of a lack of trust in the stability of the currency. Besides the Chinese gov actively advertise and encourage citizens to buy gold bullion.

Just to hammer the point home why dumb westerners are f***ed, this school teacher has saved more than $74,000 of gold in 4 years at current prices. Now ask yourself how much you or your friends or family have, let alone in savings (depreciating currency) or financial assets (counter party risk)...

Yes you're right, I'd much rather listen to these guys! 😂

https://archive.org/details/GoingGoingGoldFT

Yes, but the price recovers quickly after the typical futures smack down these days. In the past, the smack down would trigger more selling, but I don't think that's the case now. If anything it's encouraging even more buying!

True dat!

Wouldn't call it crap, but he's a bit early. LTCM/Asian financial crisis/Dotcom bubble bursting all occurred at the end of the 90s and led to greenspan dropping the fed funds rate to 1%, which arguably triggered the everything (housing/credit/stocks/gov bonds) bubble(s). Also outsourcing and globalism was kicked off properly when China became most favoured nation in the mid 90s and ramped up into the early 2000s, lowering inflation costs of imports and allowing western nations to weaken their currencies to support their low/no-(real) growth economies. This finally keeled over and died in 2008 when the financial system couldn't take it anymore, and then the monetary floodgates really opened up, getting us to where we are now.

Finally! Hurry up and crack already!!

I f***ing hate that term. Trickle f***ing down jesus wept! You really have to be a special piece of sh1t to come up with that term, let alone speak it publicly and tell people this is a good thing for them! It's the political equivalent of p1ssing in someones face and telling them it's raining. "Right folks me and my chums are going to enrich ourselves on public dime and if you're lucky we might pay a bit of tax that might go towards fixing a pot hole in your town. What do you mean that's not good enough?! Ungrateful scum!! F*** off and die (after taking an experimental mRNA gene therapy that also enriches me and my chums)!"

Creepy men, how detestable!! Though if a woman dresses like a "lady of the night" that's considered empowered and not at all degenerate or even inappropriate! Yay us!

Tbh judging from the typical behaviour during the "pandemic", most people are willing to swallow far worse than a £5 coffee so... slurp slurp!

Feels like that "come to jesus" moment for debtors is getting closer and closer...

They've also fallen in nominal terms. Just because guff-infested VI "house price" reports with bespoke modelling and seasonal adjustments, etc, etc aren't reporting it doesn't take away from the observable fact that supply is massively outweighing demand. In any market, when this happens PRICES FALL!! It's hardly rocket science! And also, just because idiot sellers stubbornly refuse to drop their asking price to find the clearing price for their property, doesn't change how markets function. Put simply, if you had to sell your property tomorrow and no buyer is willing to offer what you originally paid for it, THEN THE "VALUE" OF YOUR PROPERTY HAS FALLEN! Pretending otherwise by marketing at a far higher price (where there are no buyers) changes nothing.

@Adrian Mole do you have shares in mumsnet or something?!

Christ, you must be reading very different threads to the ones I see!! 😂 It's a running joke that the responses will mention every conceivable detail before *gasp* suggesting the price might be too high. If someone does happen to mention it then very likely they are ignored by the OP. This is logical. People come to HPC because instinctually we are contrairian to the popular HPI narrative. Most people are not like this and have been conditioned to expect HPI so the likelihood of anyone on Mumsnet confronting this is extremely low.

Propaganda like this wouldn't have anything to do with a desperate incumbent (and his acolytes) p1ssing his already urine-stained britches because of an upcoming election would it?! 🤣

Right, thanks for clarifying.

That deserves a 👍. I see. So basically you're saying that DB pension funds want "safe" assets (that are unlikely to default) that will pay a fixed annual yield for the duration that will allow them to meet a fixed annual commitment? So does that mean they will continue to buy gilts that are certainly likely to lose in real terms against inflation?

It will, but that also means the value of your house will likely be much lower.