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Fairies Wear Boots

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Everything posted by Fairies Wear Boots

  1. Rate rises. The Wilsons are utterly stuffed when rates rise as will be a lot of people with a highly leveraged portfolio. I'm bored of the crash. Be better if I had front row seats i.e. Be up North.
  2. A friend of mine told me Nike doesn't own any factories either. They just design it and tender it out to the cheapest sweat shop.
  3. I don't understand it either. We had the second worst deficit at the start of the crisis, numero uno being Greece. And just because we started from a lower debt to GDP ratio than Italy and Spain and have a tory government promising cuts our gilts are a safe haven . We have used the helicopter option, one lot of QE and haven't ruled out another drop. Bonkers. If they quease more, the french and dutch will start to come over here to buy our fags and liquor and take em back home with em.
  4. I don't see how that can be anything other than a typo. Unless they borrowed 40 billion last month and have only spent half of it!
  5. Aren't we having a slow run on the pound? The Euro has been strengthening even more against the pound. I see that prices are falling in some places. It's hardly quick though is it? In parts of the country, you'd be better off buying a house and taking advantage of the cheap money if you have a decent deposit. Though, I think it can possibly pick up pace as realism sets in and the pool of willing and able buyers dries up. A rate rise will be a blood bath, with the overleveraged, BTLers, and the Wilson's all getting it.
  6. Posted this in Anecdotals yesterday... London... A guy at work was a bit upset 6 to 8 months ago. He was renting a 2 bed place he called 'cheap' having been in there for eight or so years and reckoned when they (him and girlfriend) moved out they would have to pay substantially more rent and his landlord had just informed him he was going to sell the place. Anyway, the Landlord put it on the market for 250K. I thought that was amazingly cheap for London, but he reckons it needs a shed load of work done on it and is in crappy location. Workmate plucked up the balls and made an offer of 200K. Which was rejected because the landlord was wanting 250K. I've just found it on Rightmove, now currently advertised for 240K. They rang him up today and told him he could have it for 210K! Sounds like workmate was dreaming, because he said he wasn't even sure he could get 200K.
  7. A guy at work was a bit upset 6 to 8 months ago. He was renting a 2 bed place he called 'cheap' having been in there for eight or so years and reckoned when they (him and girlfriend) moved out they would have to pay substantially more rent and his landlord had just informed him he was going to sell the place. Anyway, the Landlord put it on the market for 250K. I thought that was amazingly cheap, but he reckons it needs a shed load of work done on it and is in crappy location. Workmate plucked up the balls and made an offer of 200K. Which was rejected because the landlord was wanting 250K. I've just found it on Rightmove, now currently advertised for 240K. Someone rang him up today and told him he could have it for 210K! Sounds like workmate was dreaming, because he said he wasn't even sure he could get 200K. I've suggested to him before that property prices could possibly come down. He doesn't believe he will be that lucky.
  8. Yeah but we want GDP and tax take to increase, even though we are now going to borrow less. Maybe we should ring up Gordon Brown and ask him what the answer to that one is.
  9. With regards to interest rates staying low, our pound has dropped, therefore inflation on imported stuff has gone up. Mervyn King keeps on saying we can't do much about that. He's wrong of course they could defend our currency. What he meant to say is we can't do anything about that apart from raising rates that will destroy our housing market. There might come a time where they have to defend the pound.
  10. On people thinking the housing market will go back to 15 - 25 percent rises each year. It's the media too. When house prices slumped and then got back to rising at a couple of percent per year, it was looked at as a good start but when do they get back to "normal" rises. As for Bernanke, not really sure why we are discussing him. America is having a very nice housing crash with Zirp. It's our currencies value, our inflation and interest rate that are interesting. Inflation way above target, they can't raise the base rate because it'll crash the housing market. Will it blow up in their faces? Probably, but how long will that take? The rate on a five year fix going down didn't fill me with confidence. Even thought about getting one. Though if the base rate is going to stay low, might as well get a cheaper floating mortgage and have more of it paid off in five years time.
  11. How can bears react when indices sometimes edge upwards? The whole thing is a joke. Governments the world over are having to cut back on their spending. Reckless lending has gone and isn't returning. The housing market here won't become functional until FTB's can afford houses again. Prices will have to come down. Yet prices stagnate because of ZIRP and government borrowing running at 156 billion a year, some of which goes to landlords to supply what looks like cheap shitty accomodation, at eye watering prices. I look at all the economic data, and it's frickin obvious that HPI can't go back to 15 - 25 percent a year again. Though there are some out there that think it will. I still can't believe we can sell our gilts so low when our deficit is so high. I see one of two things happening. They hold interest rates where they are and we have long, slow mainly real terms house price deflation, but some nominal falls as well, or they can't hold rates where they are, and then the SHTF.
  12. Developments for new housing stopping is bad news. They should slash housing benefit and pour the money into construction. More houses, cheaper rents they have to pay out on housing benefits. Simples.
  13. The spokesman for the oil companys said the dollar had become more expensive in an article I read. And it hadn't.
  14. I just don't understand. It's like prices for the rest of the country were unchanged for ten years, and here are these places which have doubled or trebbled in value.
  15. What's begun? Seems to me this is evidence that the base rate can stay down low for ages. We had the second highest deficit to GDP ratio, eclipsed only by Greece. And yet our bonds pay piddly amounts of interest and they are getting snapped up. Someone explain to me again why Quantitative Easing makes gilts look more attractive?
  16. No, robots get too smart for their own good and start telling humans where to go.
  17. Well if it's managing to overtake CPI then I would say our economy is booming. After all prices are going up and wages aren't.
  18. My wife is off to Edinburgh. She's going to see an Irish comedian, so I Google imaged "Irish Comedians" and the results were really good. All it showed was Irish comedians ... and Jedward. The FTSEies been rising. Riots mainly over. I give it a week until we have some more panic selling.
  19. Is that because if they get caught using excessive force they get into trouble?
  20. I heard that an AAA rating was for a country that had no chance of defaulting. They were a day and a half away from defaulting and S&P downgrades them. Sounds fair enough to me!
  21. Is oil going to come down in price? Seems like it keeps on going up. It dropped three pence recently, and then went back up four. If petrol is less than 1.30 a litre in six months time I'd be surprised.
  22. My friend is getting a job in the states. He already works for the american company, in london, so they are currently getting the paper work and certification needed to sponsor overseas people. He isn't that talented, and they could definitely find an american to do the job. Don't they have that rule in the U.K. it's just ignored? My wife was recently offered a job over there, by someone who works over there after he found out they were having a wave of redundancies at her work. So it can't be that hard. Fortunately, she didn't get made redundant.
  23. I think those who think they should just allow an orderly crash with hardly any problems are in la la land. I very much which the over indebted got their just deserts, however I think it'd be a major shock to our economy. I'm not saying the medicine they have been doling out isn't going to kill us. Just that not queasing and not introducing ZIRP would have meant our crash would have been sudden, and our banks stuffed, and our economy even more down the toilet. Aren't the banks in Northern Ireland so stuffed they make our banks look solvent well run affairs? Irish bailout, Celtic tiger dead etc? Just asking.
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