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downandout

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Everything posted by downandout

  1. The Euro features prominently in China's plan for a new reserve currency to replace the dollar so they would say that wouldn't they? Even the 'markets' aren't daft enough to buy into this one are they?
  2. I'm surprised this article received so much attention on this site considering it's conclusions are patently wrong. The supply side explanation was spanked into touch 3 years ago. The writer of the article ultimately disproves his own analysis with the comparison with the Australian housing market. Our housing situation (and therefore to a large extent our economic situation) is a product of our culture and attitude to housing. Planning constraints and tenancy agreements have **** all to do with it, they are merely a consequence. Whilst the Germans were investing their own money in useful e
  3. Hmmm....Greek bailout or vajazzling, vajazzling or Greek bailout. After much consideration, on balance, I think they went with the right choice.
  4. Free market? I seem to remember reading about those in history.
  5. I find your animated avatar quite mesmerising. That is all I have to say.
  6. I seem to recall that a few years ago all the major lenders signed up to an agreement (albeit non-binding) that their standard variable rate would not exceed the BOE base rate by more than 2%. Of course when times got tough, they all reneged like crack adicts. However, I'm sure they will all be desperate to redeem themselves, so, if you believe interest rates are likely to increase significantly, taking the SVR might not be a bad idea compared to the rubish deals available at the moment. This doesn't apply to the 'less reputable' lenders out there who collectively traded under various guise
  7. The ultimate irony is that the investment bankers were paid huge bonuses to create a situation that ultimately resulted in a massive crash in the value of pretty much everything. This provided the same (or similar) investment bankers with an opportunity to create a whole new bubble by ramping back up the value of these assets, which has of course created massive profits for the banks and therefore bonuses for the investment bankers. We can conclude that nothing has changed, the bankers will be well remunerated for medium term failure disguised by short term paper gains and you can guarantee
  8. I know someone who bought a 'holiday appartment/investment' in Bulgaria (Banko?). Paid 50k GBP 4 or 5 years ago, had nothing but problems with the management company of the apartment block and ended up selling for about 20k GBP as needed the money urgently. Investors in the Eurozone have largely been cushioned from falls in prices due to the weakness of sterling. I don't know what Bulgaria's currency has done but will probably be linked to Euro. The fool I know had to sell in GBP though so got completely shafted.
  9. Whilst on the subject of insanity. Anyone know what happened to Bruno? Gone but not forgotten. A little reminder:
  10. Jobless AND ship-less recovery apparently: http://www.dailymail.co.uk/home/moslive/ar...-recession.html
  11. According to the times article on 13 September ...borrowing of "only" £45 million... according to the Mail on Sunday article on 8 September: "Fergus says his properties are worth £180million and that once he has paid off his mortgages he and his wife will be left with a retirement pot of £120million." suggesting borrowing of £60 million a week ago. Why don't they just wait another two weeks and they'll owe nothing at that rate!!
  12. Rightmove was the most shorted share listed on the LSE at one point. It was inevitable the share price would rocket when those short positions started to be closed. I'd be very surprised if it doesn't start to fall again in the not to distant.
  13. To quote Sheikh Mohammed Bin Rashid Al Maktoum: "....But people only throw stones when a tree has fruit." Very profound. Reminds me of Cantona babbling on about seagulls and trawlers.
  14. I can't argue with that. Although the loans that people took out when I was at uni are actually reducing in line with the negative RPI. Unfortunately, I paid all mine off a few years ago.
  15. I think cars, both new and second hand, will get cheaper after the scrappage scheme ends. All it has done is brought forward demand for cars from next year. After it ends prices will drop. My main advice though is DO NOT BUY A RENAULT.
  16. I'm more concerned that a quarter are going to recieve a pay increase!!! What for? Shame I can't go on strike with my council tax payments. If the ones receiving a pay cut don't like it, they can quit and get one of those highly paid jobs in the private sector with the fantastic pension, generous sickness and holiday benefits that seem to be everywhere at the moment.
  17. The comments from all the f**kwits who actually believed this crock o'shite are hilarious though. http://www.infowars.com/twenty-minutes-with-the-president Towards the end, reality starts to dawn as the whoopin' and a hollerin' for Charlie the all American hero starts to subside. I truly despair.
  18. According to Fergus, they owe £60m: "Fergus says his properties are worth £180million and that once he has paid off his mortgages he and his wife will be left with a retirement pot of £120million."
  19. In extreme conditions they can use the "Plunge Protection Team" who support the market through buying (or manipulating) futures contracts on stock indices etc. They sprang into action after 911 with spectacular effect and were probably at work last week. The more they use them, the less it will work. A bit like UKs gov trying to support the pound during the ERM debacle. (Beat me to it methinkshe)
  20. It's a case of two evils, both cause a lot of pain, but the lesser of which is inflation. The effects on the US will be far less than on a country such as the UK. A devalued US$ would boost their exports, the only two countries who export more are China and Germany (I think) who are both heavily dependant on exporting to the US, significantly reducing the trade deficit. If my logic is correct, then the value of the US's debt (both personal and Government) would drop significantly. This is the only route that I can see available to them.
  21. I'm not sure how good gold will actually be as a future store of wealth in the medium to long-term. It's possible that big investors will continue to unwind positions to cover losses in other areas. Given recent developments, the best investments to hedge against inflation are paper and manufacturers of printing presses, which will soon be in great demand both sides of the Atlantic.
  22. Definitely a strong argument for that scenario. Rampant inflation will put a stop to nominal falls and everyone will feel a whole lot better until the effects of a worthless pound really start to take effect. The LloydsTSBHBOS 'Bank of Britain' are already talking about ramping up 95% mortgages.
  23. This appears to make a very compelling argument for inflation rather than deflation. Could the US effectively inflate it's way out of debt at the expense of the US dollar?
  24. Do these figures take account of the fact that there are far more owner occupiers now than in 1978 and that the trend has been towards more frequent property transactions? If not, surely the comparison with 1978 is meaningless and they just need to come out and say property sales are the lowest they have ever been in the known universe.
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