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House Price Crash Forum

Lucky Larry

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Posts posted by Lucky Larry

  1. Boom and bust is policy ,it happens by design not by accident . This bust is long overdue, all that's missing has been a convenient scapegoat and Covid is perfect for this purpose. Between Covid and those nasty people in the EU not playing ball any more a lot of the blame that should of headed towards bankers and politicians will be re-directed in that direction. During a boom (almost) everyone makes a little , during a bust a few vultures at the top strip the carcass bare . Won't be long til they issue ration cards and we're all hanging out the washing on the Siegfried line.

  2. Without going down the plandemic conspiracy road there are some things that have me scratching my head. The Queen (elderly and vulnerable) Charles, Camilla , William and a host of World leaders and dignitaries are happy to meet up without masks and not observing any social distancing . We are told that even if you are vaccinated you can still catch it and spread it to others . Ascot is full of top hatters , maskless and wealthy Hooray Henry's . The Prime Ministers own father didn't take lockdown seriously . Johnson himself  caught a mild version , wasn't on a ventilator but was isolated in IT but regained his health quickly. Charles was another mildly affected statistic. None of them seem unduly concerned for their own well being . We even had Govt proposing that high wealth individuals shouldn't have to  self isolate. The old saying of don't listen to what they say , watch what they do is quite prescient .

    What I do know with 100% certainty is that Covid 19 will be the scapegoat for all the problems that will now beset us. If we do have global financial collapse , hyperinflation and the necessity to privatise the NHS then it wasn't the greed of banks and politicians that are the cause of it. They acted in the public interest at all times . 

  3. 3 hours ago, scottbeard said:

    Let's apply your words to a £50 note:

    A £50 note is created when someone in an office in London rings up the printers and says "we need a few more".  It is made of less plastic than a 5p shopping bag, and exists only as a flimsy piece of paper which will be worn out and burned within 5 years.  It has value only because the government says "you must pay your taxes with these, and not other flimsy plastic/cotton strips that say €50 or $50 on them".

    Of course they have value - because enough people believe that they do.  For what happens when they stop believing, Google "Weimar".

    They have value as long as those people have faith and trust in the institutions that are issuing them , however it's very rare that these pieces of paper ever increase in value or purchasing power . Pointing out some flaws in crypto doesn't equal supporting fiat .

  4. As of today there are 10507 different crypto currencies listed on coinmarketcap plus others listed elsewhere.

    It's all a bit dot.com and I would be surprised if the vast majority don't end up in the digi trash can sooner rather than later.

    I do have a small punt on one (not btc) so am not 100% anti crypto but I am extremely sceptical of their value. Bitcoin for example was created by a man nobody has ever met , where coins come into existence by solving a sum nobody needs the answer to and these "coins" exist only in cyberspace as a piece of computer code. I don't see where the value is only that if enough people believe it has value then it does. It reminds me of the story of the Emperors new clothes where only clever people could see the material. The other red flag for me is a digital currency is a bankers wet dream and BTC and the others are paving the way for public acceptance. 

    Buyer beware.

  5. 13 minutes ago, wsn03 said:

    Today i went in a modern motorhome, fantastic.  I'll buy one in a year or so when everyone starts getting rid as holidays in Europe return. I'll be able to park on the coast wherever I fancy, no hassle or mail to deal with, and I can use it for weekends away etc in England too. The cost will be the same as the deposit on a flat, and the hassle and depreciation will be less without the rates and bills. 

    If I was buying a home to live in it wouldn't be such an issue, but for 2 weeks a year I don't really want to be a mortgage slave for something that will probably  end up being worth less than I paid for it over the next 20 years or so

    I bought an old Fiat Ducato about 15 years ago when I lived in Germany , went away most weekends with my wife and 2 kids and was definitely one of the best buys ever. Worth fitting a few solar panels to the roof and get more off grid independence.

     

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