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Willy Wonka

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Everything posted by Willy Wonka

  1. Right Fred Dead,,,,,, I understand your annoyance at these huge house prices fuelled by low credit costs and the destruction of Pensions BUT, I am sure that if you think about it you do not want BTLer's who bought in 2001 to loose everything....... WHY Because if these first, early risk takers (almost in 2001), in BTL get a hit from 2001 purchases then the prices must fall 60-70% and if that happens then we are all well and truely screwed. Recession with possible Inflation (the hell of stagflation) Even those who did not buy and have meagre savings may find those eroded by inflation or eaten by lack of jobs etc..... Hovever, if 'the parents' bought in 2007 2006 or 2005. then they were not one of the firsts in the market and could easily loose the lot.. and good ridddddance..... (well all of their gains then have problems with mortgage servicing etc etc) A true anecdotal of someone who should loose their investment..... Friend told me of one of his friends who had about 500,000 equityin their place in SW11. (Nappy Valley) Thought he was 'undergeared' (FFsake. he said 'I was undergeared') so bought a place off plan neaqr crawley .... Small Block completed Dec 06. One guy in the block had to sell Feb 2007 at a 20K (10%) loss.. They are subsidising the rent by 200 a month.!??!?!/ and. when quesionted is 'in it for the long term' and thinks should buy another.!?!?!?aaarrrrgggghhhhh Not thats the good riddance story. (
  2. Right Fred Dead:- U must have a serious chip on your shoulder. Nothing wrong being a Bear, but a bear with a sore head such as yours must be terrible to walk around with. I am surprised you haven't topped yourself. The guys Dad bought in 2001:- your response is that his Dad is screwed as he bought at a peak.!?!?! Look at the graph on the Home Page which everyone raves about to bulls. (me included) How can 2001 be a peak. If prices fall to 2001 levels we are all stuck in the sticky stuff for a long time to come. (RB's frequent posts of Crash armageddon) Prices would fall 60 - 70%..... Possible; but please no one should ever wish it, not if their head is screwed on the right way. Your incoherent rant included asking whether his Dad has ever had a proper job. Note that the initial investment capital came from a lump sum pension entitlement, so he must have had a job. Unless the government give out lump sums on retirement to Jobseekers?!?! Hi Dad quite rightly invested his Pension Lump sum in the best possible investment. If he gets out now nothing can have beaten it, even if he takes a fall of 10/15% to sell right now the same applies.... If you want to Chav Rant at someone then BLAME the government for taking 5 BIllion a year from pensions since 1997, (driving alternative investments) relaxing credit etc etc... and remember in 2001 BTL was minor minor stuff and he took a risk at that time whihc has paid off.........The Jonny Come Lately brigade are a different matter.
  3. ABN Amro have announced, internally, this afternoon to employees that there are going to be large scale redundancies with 'only traders' being kept on. Sure it will hit the press soon. Is it due to the takeover (though a bit soon for this to be a completely credible reason) or a combination of takeover and downturn..... Intersting news to watch
  4. I have a tenant living in a flat I bought 5 years ago. She has just got a new Job in the City which has taken her from Air Brushing Photos and the arts (which I think she really enjoyed) to a job agency and a placement in the city at £35,000 for being an assistant to an 'executive'. (Yes and 'Executive Assistant'). I asked what she actually does and of course she replied 'not alot' good on her I told her not to even consider moving but to try to climb the greasy pole where she is. (Or find a nice rich bloke) Another friend who used to work in City, not a super high flyer 'Goldman Boy' but head hunted to take his team with him to another Bank, ,,,, his secretary was on £50,000... (a couple of years ago!!) So although being a bear myself, and boring my friends to death at most opportunities, one has to temper the bearish'ness till there is a natural tightening of the belts......... which should be coming soon... a recession is capitalism's way of tightening the belt and cutting the driftwood away..... which is worse...... wanting a house price fall or the accompanying nasty recession........
  5. Thanks froum.... was so angry that no one was saying that this was not a 100% guarantee I just was live on Radio 2.... 5million listeners.....??? saying taht the guarantee is not 100% as the government have wriggle room in that the 'guarantee' is only during the current financial crisis... They can and will declare the cirsis over and the Rock safe.. in a week or so.... and then The Rock will sink as a result of the bad publicity (THink Ratners and the prawn sandwich lasting longer then his earings)... and the 100% guarantee has already flown.... Did anyone hear..?
  6. Darling's resuce package is 'a guarantee for depositors DURING THE CURRENT CRISIS'...... this is the wriggle room for the government. In a few weeks the 'current crisis' is offically over and Northern Rock is saved. But NR is holed below the waterline, a bank just cannot survive such a name tarnish (think Ratner's) and will sink after the current crisis when the Gurantee Runs out.....
  7. £ 32,800 average Gross £26,700 After TAX ...?!?!?!? Its more like £ 23/24000 after tax NI etc....
  8. Prior to the inflation figures of 3.1% I posted some details about Fat prices and the possible effects on food prices / general inflation. Of course though not as exciting as Oil, Energy prices etc etc Fat (oil's) is where its at!?!?!?! At the start of the year Palm prices were roughly 400 a ton at the time of my last post, in March think, the price had risen to 620 ish. The price yesterday was 820 a ton!!!!! Soya Oil was about 550 Eruo at the time of my last post and it is now 600 Euro. Now of course large manufacturing companies have forward positions for several months, but as I said in March, they are having to bite the bullet and buy and push the prices upl. Palm oil is used in everything from Candles to Shampoo to fillings for those little chocolate delights etc etc. chip oil, I think that the last inflation report did mention that food prices were one of the areas that had increased in value in the last month, I think said for the April figures. (I am sure someone here will confirm)
  9. Skanked, Exactly right. its BioDiesel that is sweeping or rather sucking up the prices for these Oils and also sugar which is being increasingly turned into Ethanol in Brasil. So in order to 'go green' basic foodstuffs are being priced upwards which is a real pisser for the poor
  10. I was lucky enough to be pressured into buying a flat in Wandsworth by my 32D-22-32 blonde girlfirend who wanted a 'place called home' in 1999. It cost £190 and at the time I thought I was mad because prices were 'sure to fall'. I was even luckier to buy her out of her share of the profit a year later when we split up. Ok the profit was £22K so i had to pay her £11.. Its now worth about £380K / £400K. I really wish a 2 bed 'garden' flat was not 'worth' that much as then I may have a chance of moving up to a house!! I was even luckier to buy a 2 bed flat in Wapping, again for £190K four years ago. Its now 'worth' £280 and the renteeeeees pay £1200 a month covering by £400 the cost of the repayment mortgage and service charge. But I am considering selling up and renting because inflation is rearing its ugly head... Yes we all know about Oil prices, Wages for Teachers etc, Pensions crisis, Palm Oil has risen by over 40% since mid 2006 Soya Oil has risen by over 30% since sept 2006 Of course Manufactureres cover themselves but many are now having to pay higher prices. These fats are used in Soap, Candles, Shampoo, Fillings in chocolate bars! In fact many foodstuffs have fractions of these fats in them. These small items on their own make no difference but together will push into the inflation figures - even the CPI - Crappy Price In'dick'ator As an aside - Bread has risen!?!? yes it always does if cooked correctly, but its now about 90p - £1 for a standard hovis loaf.......
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