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Converted Lurker

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Everything posted by Converted Lurker

  1. iirc the very top end has doubled in property for sale as prices have fallen 25%, (over the past 12 months) but don't quote me on it, just one of those assimilated, reading thousands of posts/articles, bits of acquired knowledge...
  2. meant to add that the govt owned bank repossessed 60% more properties in 2008 when in govt hands than in 2007 (when it wasn't...for most of the year)
  3. Good points re margin calls, particularly number 3. Motto 5: trade what you see, not what you think.
  4. Northern Rock, the nationalised bank, today revealed an 80 per cent increase in the number of its customers falling behind on their mortgage repayments by more than three months. The bank said that 17,264 mortgage accounts were now in arrears up from 3,492 at the end of 2007. This was equivalent to 2.92 per cent of its total mortgage book, which is well above the industry average of 1.88 per cent. Northern Rock's worse-than-average position is largely due to arrears in its Together mortgage portfolio, which was on sale before the bank's collapse. The Together product allowed customers to take a mortgage out and get a personal loan on top and arrears for this product now stand at 4.5 per cent — nearly three times the national average. The Council of Mortgage Lenders (CML) has estimated that 75,000 homes will be repossessed this year as unemployment rises, up from 25,900 in 2007. http://business.timesonline.co.uk/tol/busi...icle5836791.ece
  5. London town is still falling hard, when you do a search on RM for properties over 3,000,000 (of our not so great British pounds) and 874 come up you realise it has a long, long way to fall... iirc the are currently 3,000 properties above 1,000,000 million currently for sale in Londonium...
  6. Not quite that desperate just needing to have a nice *golden dump* perhaps. IMHO this was always on the cards, no safe havens, if you need to liquidate positions; in order to pay the bearer on demand/paymaster, then everything has to go.... Gold fell for the sixth straight session, the longest slump since October, as some investors sold the precious metal to cover losses in equity markets. http://www.bloomberg.com/apps/news?pid=new...id=ar5rtTDV.m8k Oi Mods, leave this on FFS, worth a debate in relation to no safe havens??
  7. this is a good question, strangely enough I asked the HPC investment gurus this in approx. 2006. I posed the question quite simply, "what if it all goes to shit and there are no safe havens?" The answers at the time were slightly condescending; "Oil ETFs, Gold + other PMs, BTLs in far off lands", and my personal favourite "cash will be king" well no one recommended Yen from 2006-2008, lots of small chatter re. which high interest account to pay your STR fund into, after all 6% goes a long way when your GBP is losing 25% v Dollar and Euro in 12 months ...there are no safe havens...period.
  8. what genuinely troubles me for the Rosies of the UK (of which there are countless hundreds of thousands) is that they use language suggesting/expecting this all to 'blow over' soon, as in the 'summer months'. They use phrases such as "when the market improves" as if they expect things to resume to their bizarre sense of normality, not for one moment considering that the last 7 years have been utterly bizarre and out of step economically with any previous time in history, or 'normality'....
  9. whilst I take on board what you're saying most large companies only pay bills after 2-3 months, they recently started going further out than that, by the time you're into supplying them with a product, or service you're kinda hooked/ensnared into them and their *rules*. Then the rumours start and you hope and pray they don't stiff you. From top to bottom this crisis has only really hit over the past six months and lots of small suppliers have been waiting for payment for about that length of time...
  10. question; if any good why doesn't Philip Green want them? Window dressing that all is well, remove these names from the high st + Woolies and a big hole begins to appear and we can't have that in Mandyland can we?
  11. Desperate tactics induced by the govt to keep the facade/Potemkin view that all is well on the high st, there'll be thousands of small businesses that get shafted by this concept, but Nu Lab don't really give a flying fukc for the small guy who'll go under losing a handful of jobs as a consequence of these pre-packs whilst giving the small guy back 3 pence in the pound of his outstanding £20,000 invoices, disgraceful...
  12. Interesting point that the welfare system in the US only really kicked in during/due to the great depression. We have 25% of our workforce economically inactive now (in the UK) and have done for approx 4-5 years. The real figure/issue to watch develop IMHO is the job seeker count which will grow by approx. 30%; from 2mil - 3mil over the next 10-12 months.
  13. depends how you play it though if you have longer postions in with for example IG then you're a mug IMHO. Make a grand off them? get in transferred back onto the card they have details of/are holding. Leave it a month? get your 5K winnings transferred....anyone leaving lumps of winnings or exposure to having their cash swiped with an SB company is crazy
  14. that it Peter, it's a blokes indelible right to mess up their lists and go off list' particularly when with the kids as you can get loads of brownie points saying "sure why not, it's Ok once in a while" as they point to the choco coco flake thingys. Keeps them in check and reminds them that they're best doing it themselves
  15. yep 100,000 per month is about right IMHO, an extra 1 million in 2009 Let's not forget these are actual job losses in the economy. Those already ingrained into the benefits system for a variety of reasons; incapacity etc, will not rise exponentially, unlike the job seeker count which will explode this year. A rise of a million is somewhere in the region of a 33% rise Year on Year iirc
  16. yep those Asians have got too greedy wanting £5 quid a day for ten hours work, best switch to Nigeria... In best 'phone jacker' style; "Good evening Sir, could I take you through a few security checks, what is your account number, pin and 3 digit code on the back of your credit card..."
  17. and 60% down on this time last year which is stunning, given last year was not *great*
  18. good God forget abuot that type of graph, a while since we've thrown one of those up...
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