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Fears For Uk Recovery As Oil Nears $120

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http://uk.finance.yahoo.com/news/Fears-UK-recovery-oil-nears-tele-2279482470.html?x=0

Fears for UK recovery as oil nears $120
Emma Rowley, 19:01, Thursday 24 February 2011
The turmoil in the Middle East pushed the oil price close to the crucial $120 mark at which it may threaten global growth, putting the UK at a growing risk of a dangerous inflationary shock.
Brent crude, London's benchmark oil, jumped $8.59 to hit a 30-month high of $119.79 a barrel early on Thursday, as refiners exposed to Libya stocked up and markets weighed up the risk of the violence engulfing the country spreading to other oil producers.

OIl, beginning of the HPC, austerity, job losses, Elephant still in the room, rising sterling: witches brew.

Oil at $120 will have an impact on the world economy and destroy any hopes of recovery.

Doomed, we're doomed I tell ye........................

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Brent crude, London's benchmark oil, jumped $8.59 to hit a 30-month high of $119.79 a barrel early on Thursday...

It's now late on Thursday and Brent is trading at $110.65.

There's certainly been a dramatic rise over the past few days, and $110 alone is going to add significantly to inflationary pressures, but the $120 was a very short-term trading spike and (for the moment) needs to be kept in perspective.

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http://uk.finance.yahoo.com/news/Fears-UK-recovery-oil-nears-tele-2279482470.html?x=0

Fears for UK recovery as oil nears $120
Emma Rowley, 19:01, Thursday 24 February 2011
The turmoil in the Middle East pushed the oil price close to the crucial $120 mark at which it may threaten global growth, putting the UK at a growing risk of a dangerous inflationary shock.
Brent crude, London's benchmark oil, jumped $8.59 to hit a 30-month high of $119.79 a barrel early on Thursday, as refiners exposed to Libya stocked up and markets weighed up the risk of the violence engulfing the country spreading to other oil producers.

OIl, beginning of the HPC, austerity, job losses, Elephant still in the room, rising sterling: witches brew.

Oil at $120 will have an impact on the world economy and destroy any hopes of recovery.

Doomed, we're doomed I tell ye........................

Ah, but it started in Libya, dontcha know ;)

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I have lurked on this forum for a while and like to read posts speculating on house prices, I want a fall and that is what attracted me to this site.

However, I must say I find some of the "the end is nigh" posts rather silly. I have seen suggestions that the whole thing doesnt add up and we will be screwed when everyone realise the whole thing is built on that non-hard assett "money". What you fail to realise is that civilisation has always worked this way and so alot of your posts seem to display a distinct lack of understanding of how the world economy works.

Just because you dont understand it doesnt mean it is a flawed system.

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Just because you dont understand it doesnt mean it is a flawed system.

...it is flawed because there are too many crooks in the pile ....mix risk and fraud you achieve 'flawed'..... :rolleyes:

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I have lurked on this forum for a while and like to read posts speculating on house prices, I want a fall and that is what attracted me to this site.

However, I must say I find some of the "the end is nigh" posts rather silly. I have seen suggestions that the whole thing doesnt add up and we will be screwed when everyone realise the whole thing is built on that non-hard assett "money". What you fail to realise is that civilisation has always worked this way and so alot of your posts seem to display a distinct lack of understanding of how the world economy works.

Just because you dont understand it doesnt mean it is a flawed system.

Hello Merv! ;)

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...it is flawed because there are too many crooks in the pile ....mix risk and fraud you achieve 'flawed'..... :rolleyes:

There has always been fraud and risk in the world. There has always been corruption, vested interests etc... Right back to roman times and beyond. That is human nature and doesnt mean the whole thing is going to come crashing down. Come on, lets not be ridiculous here.

It is an obsession some on here have. They seem to hunt out all the bad information and point to it as an indication that the end is coming. As a reasonable person I realise that there are always going to be good and bad figures relating to the economy. Sometimes events will pose problems, sometimes figures will disappoint and sometimes they will exceed expectation.

The more I surf this forum the more I think it has become an unhealthy cult of doom merchants. This is no way to live a life by constantly waiting for the sky to fall. Just get on, live your life and be happy. I would consider myself extremely bearish in general (ultra bearish on house prices) but even I am disturbed by the attitude that some have on here.

Waiting and searching for that thing that never comes is not fun. It becomes an obsession and it warps the mind away from regular thought processes. We must avoid getting over-bearish, and instead try and be realistic but optimistic. for that is the only way to be happy.

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There has always been fraud and risk in the world. There has always been corruption, vested interests etc... Right back to roman times and beyond. That is human nature and doesnt mean the whole thing is going to come crashing down. Come on, lets not be ridiculous here.

It is an obsession some on here have. They seem to hunt out all the bad information and point to it as an indication that the end is coming. As a reasonable person I realise that there are always going to be good and bad figures relating to the economy. Sometimes events will pose problems, sometimes figures will disappoint and sometimes they will exceed expectation.

The more I surf this forum the more I think it has become an unhealthy cult of doom merchants. This is no way to live a life by constantly waiting for the sky to fall. Just get on, live your life and be happy. I would consider myself extremely bearish in general (ultra bearish on house prices) but even I am disturbed by the attitude that some have on here.

Waiting and searching for that thing that never comes is not fun. It becomes an obsession and it warps the mind away from regular thought processes. We must avoid getting over-bearish, and instead try and be realistic but optimistic. for that is the only way to be happy.

The other side of the coi is that it sharpens your attention to what is going on, gets you out of reliance on single income streams, and gets you out fo the way of bad debts, debt in general and focuses you on the areas that there may still be reasonble incomes into the future.

Obsession, quite possibly, but better that than stuck with your head in the sand ready for your **** to be kicked.

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The other side of the coi is that it sharpens your attention to what is going on, gets you out of reliance on single income streams, and gets you out fo the way of bad debts, debt in general and focuses you on the areas that there may still be reasonble incomes into the future.

Obsession, quite possibly, but better that than stuck with your head in the sand ready for your **** to be kicked.

True, but when it becomes an eager hunt to find all bearish figures and quotes then the mind is clearly not in a position to rationally sharpen your attention to a BALANCED view of what is going on, and may you miss alot of low risk opportunities which could be great investments.

The sky is going to fall vision that is championed is just self defeating, and it is also bad for the human mind. It simply doesn't led to happiness, it is impossible.

For example, I agree now is a bad time to buy and I can see a sharp correction in house prices coming, but that is a far cry from some of people here who seem to talked up their theories to such an extent that these theories, views and visions have overcome them, and they are married to the thought of impending doom at all times. That isnt a good thing. Be realistic, but dont be an out and out doom merchant waiting for the thing that might never come.

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There has always been fraud and risk in the world. There has always been corruption, vested interests etc... Right back to roman times and beyond. That is human nature and doesnt mean the whole thing is going to come crashing down. Come on, lets not be ridiculous here.

It is an obsession some on here have. They seem to hunt out all the bad information and point to it as an indication that the end is coming. As a reasonable person I realise that there are always going to be good and bad figures relating to the economy. Sometimes events will pose problems, sometimes figures will disappoint and sometimes they will exceed expectation.

The more I surf this forum the more I think it has become an unhealthy cult of doom merchants. This is no way to live a life by constantly waiting for the sky to fall. Just get on, live your life and be happy. I would consider myself extremely bearish in general (ultra bearish on house prices) but even I am disturbed by the attitude that some have on here.

Waiting and searching for that thing that never comes is not fun. It becomes an obsession and it warps the mind away from regular thought processes. We must avoid getting over-bearish, and instead try and be realistic but optimistic. for that is the only way to be happy.

I agree somewhat, but Civilisations do fall, it is inevitable. Much more common is for states to fail, Libya is doing so right now and we were within hours of of it following the collapse of Lehmans.

This forum has borne witness to some outlandish prophecies of doom coming to pass, unfortunately not the headliner , but it is coming.

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I have lurked on this forum for a while and like to read posts speculating on house prices, I want a fall and that is what attracted me to this site.

However, I must say I find some of the "the end is nigh" posts rather silly. I have seen suggestions that the whole thing doesnt add up and we will be screwed when everyone realise the whole thing is built on that non-hard assett "money". What you fail to realise is that civilisation has always worked this way and so alot of your posts seem to display a distinct lack of understanding of how the world economy works.

Just because you dont understand it doesnt mean it is a flawed system.

Ah - hate to pick you up on this Mr King, but civilisation has for the most part not worked with fiat currencies. In fact when fiat currencies are introduced, that civilisation tends to fall pretty soon afterwards.

Honestly, your lot will make us all a lot worse off without that nice Mr Sentence - he might not be able to make a fiat currency work, but he knows how to delay its imminent failure for a bit longer.

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True, but when it becomes an eager hunt to find all bearish figures and quotes then the mind is clearly not in a position to rationally sharpen your attention to a BALANCED view of what is going on, and may you miss alot of low risk opportunities which could be great investments.

The sky is going to fall vision that is championed is just self defeating, and it is also bad for the human mind. It simply doesn't led to happiness, it is impossible.

For example, I agree now is a bad time to buy and I can see a sharp correction in house prices coming, but that is a far cry from some of people here who seem to talked up their theories to such an extent that these theories, views and visions have overcome them, and they are married to the thought of impending doom at all times. That isnt a good thing. Be realistic, but dont be an out and out doom merchant waiting for the thing that might never come.

Throughout history wars have occured, people have starved, civilisations have collapsed.

Some people were sensible and saw what was happening. Others were the "positive" sheeple.

Today the so called "positive" sheeple are so happy that they have to buy tat every day to make themselves feel even more "happier".

You can know the world is going to end and still be happy. I am. It is simply about reconfiguring your mind to a different paradigm of thought. Appreciate each day, the weather, your family, friends etc. keep fit, don't buy tat you don't need, don't eat junk food, connect with nature.

I would choose it any day over a "positive" sheeple way of life.

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I agree somewhat, but Civilisations do fall, it is inevitable. Much more common is for states to fail, Libya is doing so right now and we were within hours of of it following the collapse of Lehmans.

This forum has borne witness to some outlandish prophecies of doom coming to pass, unfortunately not the headliner , but it is coming.

None of the phophecies which have come true were outlandish, although I do respect the forsight to see it happen.

Sure we could get a second financial crash, a second stage of the house price correction will probably occur to, but an end to civilisation??? No, very improbable, and if it did come to pass then I will regret holding off on a house because all my sensible long term financial decisions will leave me with nothing but 10 years of regrets that I didnt live for the moment.

Remember England, and later Britain, is arguably the most stable state of all time. To acheive democratic rights and economic freedoms without bloody revultion is testiment to this.

Things might not look good in the economy today, but lets keep things in perspeective and not become an obsessive cult.

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I have lurked on this forum for a while and like to read posts speculating on house prices, I want a fall and that is what attracted me to this site.

However, I must say I find some of the "the end is nigh" posts rather silly. I have seen suggestions that the whole thing doesnt add up and we will be screwed when everyone realise the whole thing is built on that non-hard assett "money". What you fail to realise is that civilisation has always worked this way and so alot of your posts seem to display a distinct lack of understanding of how the world economy works.

Just because you dont understand it doesnt mean it is a flawed system.

And sometimes things crack up. In fact, inevitably things crack up. I think you need to read some economic history. Things can go very wrong when you have a lot of debt - Weimar Germany being the obvious example, but there are dozens more.

My grandparents and my stepfather both lived through the depression. It was something that shaped their whole perspective on life. Yes, it is highly unlikely we are going back to living in tribes and throwing rocks at each other, but don't discount the possibility of some very miserable times ahead. You are correct in that it is a waste of a life to spend all of it planning for doom, but it is only sensible to take precautions when the writing is on the wall. I started investing based on my gloomy predictions back in 2004/5. It has paid serious dividends allowing me the freedom to do some things I have wanted to do. If I had looked at the world only through rose coloured spectacles, I would be in a much worse financial and hence life position.

Edited by Tiger Woods?

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Throughout history wars have occured, people have starved, civilisations have collapsed.

Some people were sensible and saw what was happening. Others were the "positive" sheeple.

Today the so called "positive" sheeple are so happy that they have to buy tat every day to make themselves feel even more "happier".

You can know the world is going to end and still be happy. I am. It is simply about reconfiguring your mind to a different paradigm of thought. Appreciate each day, the weather, your family, friends etc. keep fit, don't buy tat you don't need, don't eat junk food, connect with nature.

I would choose it any day over a "positive" sheeple way of life.

Fair point, but there is no precedent to the way the world is at the moment. It is just complete guess work to try and predict a fall in civilisation as we know it. EVen the smartest computer around couldnt factor in all the variables and unknowns which will impact how the next 100 years goes for us all.

So why not be positive, optimistic and hopeful?? Sure make balanced long term decisions like holding off on house pruchases because the risk reward is skewed in your favour, but dont go too far and become obsessive about an impending collapse. Like I said, to keep searching for this collapse will lead to a wasted life should it never come.

Dont let fear of the unknown, or of what might come about, adversely effect how you live your life. We only have limited time, I dont want to look back on my life and say "Wow, I was so worried about what could happen that I didnt live my life to the full". I feel like this doom merchant cult will cause this in some people.

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Remember England, and later Britain, is arguably the most stable state of all time. To acheive democratic rights and economic freedoms without bloody revultion is testiment to this.

You really don't know your history do you. Might I suggest you pick up a copy of Carlton, Charles (1993),The Experience of the British Civil Wars,

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There has always been fraud and risk in the world. There has always been corruption, vested interests etc... Right back to roman times and beyond. That is human nature and doesnt mean the whole thing is going to come crashing down. Come on, lets not be ridiculous here.

It is an obsession some on here have. They seem to hunt out all the bad information and point to it as an indication that the end is coming. As a reasonable person I realise that there are always going to be good and bad figures relating to the economy. Sometimes events will pose problems, sometimes figures will disappoint and sometimes they will exceed expectation.

The more I surf this forum the more I think it has become an unhealthy cult of doom merchants. This is no way to live a life by constantly waiting for the sky to fall. Just get on, live your life and be happy. I would consider myself extremely bearish in general (ultra bearish on house prices) but even I am disturbed by the attitude that some have on here.

Waiting and searching for that thing that never comes is not fun. It becomes an obsession and it warps the mind away from regular thought processes. We must avoid getting over-bearish, and instead try and be realistic but optimistic. for that is the only way to be happy.

...you sound a bit like: ..... :rolleyes:

...."There is no human problem which could not be solved if people would simply do as I advise."

Gore Vidal

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You really don't know your history do you. Might I suggest you pick up a copy of Carlton, Charles (1993),The Experience of the British Civil Wars,

Well I will agree to disagree with you on this. I think if you compare our british civil wars and "revolution" with that of almost any other nation in the world then you will see that we avoided the worst by making gradual change.

But that is diverging from the discussion I think.

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None of the phophecies which have come true were outlandish, although I do respect the forsight to see it happen.

Sure we could get a second financial crash, a second stage of the house price correction will probably occur to, but an end to civilisation??? No, very improbable, and if it did come to pass then I will regret holding off on a house because all my sensible long term financial decisions will leave me with nothing but 10 years of regrets that I didnt live for the moment.

Remember England, and later Britain, is arguably the most stable state of all time. To acheive democratic rights and economic freedoms without bloody revultion is testiment to this.

Things might not look good in the economy today, but lets keep things in perspeective and not become an obsessive cult.

Britain was stable because its economy was always expanding, and there were enough jobs and resources for its inhabitants.

There are not enough jobs or enough resources now. The only thing holding off riots and breakdown has been the benefits system, which basically borrows money from future generations to pay people to watch Jeremy Kyle.

Question is, how long can we borrow that money? And how in Gods green Earth is that money going to maintain its value?

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Fair point, but there is no precedent to the way the world is at the moment. It is just complete guess work to try and predict a fall in civilisation as we know it. EVen the smartest computer around couldnt factor in all the variables and unknowns which will impact how the next 100 years goes for us all.

So why not be positive, optimistic and hopeful?? Sure make balanced long term decisions like holding off on house pruchases because the risk reward is skewed in your favour, but dont go too far and become obsessive about an impending collapse. Like I said, to keep searching for this collapse will lead to a wasted life should it never come.

Dont let fear of the unknown, or of what might come about, adversely effect how you live your life. We only have limited time, I dont want to look back on my life and say "Wow, I was so worried about what could happen that I didnt live my life to the full". I feel like this doom merchant cult will cause this in some people.

Optimistic? bah! what that our way of life continues?

Our way of life is making us all miserable. We have lost touch with nature, where we come from, our families and our culture. And replaced the whole thing with "cos I'm worth it" existence.

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Britain was stable because its economy was always expanding, and there were enough jobs and resources for its inhabitants.

There are not enough jobs or enough resources now. The only thing holding off riots and breakdown has been the benefits system, which basically borrows money from future generations to pay people to watch Jeremy Kyle.

Question is, how long can we borrow that money? And how in Gods green Earth is that money going to maintain its value?

Evidence? Thought not.

This is exactly the sort of comment which doesnt do any good, espicially to the person who wrote it.

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I have lurked on this forum for a while and like to read posts speculating on house prices, I want a fall and that is what attracted me to this site.

However, I must say I find some of the "the end is nigh" posts rather silly. I have seen suggestions that the whole thing doesnt add up and we will be screwed when everyone realise the whole thing is built on that non-hard assett "money". What you fail to realise is that civilisation has always worked this way and so alot of your posts seem to display a distinct lack of understanding of how the world economy works.

Just because you dont understand it doesnt mean it is a flawed system.

well said. you'll get flamed but you're still right ;)

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I don't think anyone does tbf, it's just that there are a lot of pissed off people on this site who want to buy property but only at the usual and correct (affordable) ratios, so they can have a life and a house.

Edit: Typo.

And I agree with them. It is my biggest gripe with the UK today - high house prices. That is why I am here

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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