Ftse 100 Back Above 5300

[interestrateripoff]

Last Updated at 10:31

FTSE 100 5327.59 Up 58.93 1.12%

When the FTSE was going down everyone got accused on just focussing on the "bad" news so here's some good news the FTSE is up...

Obviously over the past decade since it's 99 peak it's not great performance but lets not focus on that the FTSE is up, rejoice.

[Lambie]

Last Updated at 10:31

FTSE 100 5327.59 Up 58.93 1.12%

When the FTSE was going down everyone got accused on just focussing on the "bad" news so here's some good news the FTSE is up...

Obviously over the past decade since it's 99 peak it's not great performance but lets not focus on that the FTSE is up, rejoice.

http://secretdiaryofamortgagebroker.blogspot.com/2011/08/were-all-going-on-summer-holidaynot.html

According to the secret diary of a mortgage broker everything is back to normal, great deals at 90% are go, canny buyers get yourself a bargain and get your foot on the housing ladder, we're all saved, hooray!

I am now moving into seriously planning to get the hell out of this country. It's FUBAR and will never, ever be fixed.

[MrFlibble]

I am now moving into seriously planning to get the hell out of this country. It's FUBAR and will never, ever be fixed.

It's getting harder and harder to visualise a future worth living in the UK. Financials aside our fook over the next guy culture is what's driving me away and I only see this getting worse. The desperation of people also pisses me off, trying to achieve the simplest of things usually ends in frustration. Sick and tired of being run off the road too, a 6am commute and everyday some idiot is ready to die and take me with him.

Edited August 31, 2011 by MrFlibble

[rantnrave]

QE3 now priced in and expected to arrive in September. They're going to throw the toys out of the pram if they don't get it...

[rantnrave]

Fib levels.

Are they connected to liar loans?

[Superted187]

I am now moving into seriously planning to get the hell out of this country. It's FUBAR and will never, ever be fixed.

Having just received a £2k payrise, bringing combined household income up to £61000, the gf and I started looking at moving into a bigger, quieter flat (2 bed, nothing fancy). However, it turns out rents are horrific and a "nice" place will cost around £1000 PCM - we're in Reading.

So, today we're both researching which countries we can go to for 1 or 2 years and work while we are both still under 30. Either that or get the hell out of the South East.

Perhaps we could do with a board for discussing emigration? I'm sure somebody drops the "leaving the country" line daily on HPC.

Edited August 31, 2011 by Superted187

[Constable]

The markets just shrugged off the dreadful US consumer confidence numbers yesterday and continued on up.

I agree that it's the prospect of QE3 next month... I think the big traders are taking the view that the worse the economic data the better the chances of more, and bigger, QE.

They've probably been given the nod by insiders and want to be fully invested before it's announced.

[Kurt Barlow]

Having just received a £2k payrise, bringing combined household income up to £61000, the gf and I started looking at moving into a bigger, quieter flat (2 bed, nothing fancy). However, it turns out rents are horrific and a "nice" place will cost around £1000 PCM - we're in Reading.

So, today we're both researching which countries we can go to for 1 or 2 years and work while we are both still under 30. Either that or get the hell out of the South East.

Perhaps we could do with a board for discussing emigration? I'm sure somebody drops the "leaving the country" line daily on HPC.

Blimey - sounds steep. Im just about to put a 4 bed detatched on the rental market for £1000pcm. 7 miles communte into Cambridge.

[Kurt Barlow]

Volume was nothing though, look at the volume, that's the key.

I used the dip to buy up a load of high yielders for my fund which is basically a SIPP. So far so good. Im only 3% down from October 2010 and that includes 2% for SD and commission. As they are high yield shares my average gross dividend is 4.7% so overall slightly up!

[jaspers]

QE2-food price inflation-Arab Spring-overthrown dictators-QE3->food price inflation-counter revolution-Muslim Brotherhood.

(HPC TFH moment #324)

[Constable]

Volume was nothing though, look at the volume, that's the key.

That can be interpreted both ways though.

Edited August 31, 2011 by Constable

[Guest_ringledman_*]

Western indicies are in SECULAR sideways markets.

20 years up.

15-20 years sideways.

Thats how they work.

All to do with P/E regression from overvalued to undervalued.

Stick to defensive high yielders. Switch to cheap index trackers sometime around 2015-2020 when the next SECULAR bull may begin.

The value is in the vodafones of the word that peaked in 2000 not cyclical trash like the banks that only popped 3 years ago.

Half the FTSE is good, half is cyclical trash.

Edited August 31, 2011 by ringledman

[Kurt Barlow]

Good on you.

I'm not sure where this market is going currently so I'm on the side lines, at least I know what I'm losing with cash annually.

At present I have £4500 a month going spare. I need to put it somewhere and bank accounts for anything other than short term leave me feeling ass raped. I cant even use my ISA as Im abroad nor can I take out Index linked post office bonds. Other options include opening ZOPA accounts in my parents names, or premium bonds. Just lent my brother £5000 at 3.5% for a new van for his business!

[Superted187]

£1000 pcm month sounds about right.

What's a £1k a month if you value your belongings and life in Reading?

Here's the thing, I don't. We moved here 2 years ago for work and because it was cheaper than London (my hometown). Gf is more settled here than I am, but wouldn't hesitate to move. I knew things were bad, it just really hit me yesterday when we actually managed to get a viewing done.

The landlady wanted £800 PCM for a tatty Victorian semi that had been partitioned into 3 flats (non purpose built = noise). The garden had been equally butchered in this way.

[abroad]

Perhaps we could do with a board for discussing emigration? I'm sure somebody drops the "leaving the country" line daily on HPC.

Well I'm not sure what the expectatios are regarding moving abroad....I've lived in a few countries for extended periods and everywhere has good and bad points. Just bolting out the door isn't really a sensible reaction unless there is a solid plan behind it regards work/family life and longer term financial planning.

UK is still fairly low for income tax in comparison to most EU countries, rents 'outside of London' look cheap to me(I rent now). House prices are pretty high in most countries. Downsides i see in the UK are weather and very very poor redundancy protection in comparison to other EU countries..

You usually need another language as well as its painful and difficult without it

Edited August 31, 2011 by abroad

[Terribad]

Western indicies are in SECULAR sideways markets.

20 years up.

15-20 years sideways.

Thats how they work.

It seems far fetched, but you can actually zoom out more and say that the 20-sideways 20-up trend is over, and was actually part of a 120 year cycle which is now ending.

Or that the FTSE can actually fall much more yet and still be classified as being in the same sideways channel.

I'm still staying cash until (if) equities rally to either the 200MA, the head and shoulders neckline, or have a technical reversal signal before then ... then short sometime in autumn.

But I tend to get stopped out of my terribad plans a lot

[sympatex]

Here's the thing, I don't. We moved here 2 years ago for work and because it was cheaper than London (my hometown). Gf is more settled here than I am, but wouldn't hesitate to move. I knew things were bad, it just really hit me yesterday when we actually managed to get a viewing done.

The landlady wanted £800 PCM for a tatty Victorian semi that had been partitioned into 3 flats (non purpose built = noise). The garden had been equally butchered in this way.

I'm in a very similar position to you Superted, both location, age and level of pure dispair. I live in Sandhurst which is on the trainline between Reading -> Guildford. Cheapest 2 bed place of any description out of a warzone is 850 per month and then you have the comuting costs of goin gto reading, guildford or farnborough.

I'm going to Australia to see a friend who moved out to Perth 2 years ago and he has been back a few times and he never anticipates returning now. I will go out for a holiday for a month and while i'm out there do some research at some recruiting agencies and see if my skills (database / software developer) are required. If not i've lost nothing, if they are, i'm game for a few years in the sun while this hole tries to sort itself out.

I love my country and i'm proud to be english but everything currently is stacked against a sensible (no liar loans, saved, own everything outright car etc etc), white, middle class degree educated individual. I should have just got some slag pregnant a couple of times and sat down the pub for the rest of my life. i'd feel less worthless and quite likely be worth more.

[Kurt Barlow]

Gold as another alternative perhaps.

Can you get it cheaper in the kingdom?

I suspect if I got into gold now in a big way that would signal the downturn. Buying here - hmmm from this bunch of thieves and shysters, probably end up with a bar of gold coated lead

Overall Im content with adopting the defensive high yielder strategy. Even if the prices go nowhere Im getting a return of about 5%.

[Superted187]

I'm in a very similar position to you Superted, both location, age and level of pure dispair. I live in Sandhurst which is on the trainline between Reading -> Guildford. Cheapest 2 bed place of any description out of a warzone is 850 per month and then you have the comuting costs of goin gto reading, guildford or farnborough.

I'm going to Australia to see a friend who moved out to Perth 2 years ago and he has been back a few times and he never anticipates returning now. I will go out for a holiday for a month and while i'm out there do some research at some recruiting agencies and see if my skills (database / software developer) are required. If not i've lost nothing, if they are, i'm game for a few years in the sun while this hole tries to sort itself out.

I love my country and i'm proud to be english but everything currently is stacked against a sensible (no liar loans, saved, own everything outright car etc etc), white, middle class degree educated individual. I should have just got some slag pregnant a couple of times and sat down the pub for the rest of my life. i'd feel less worthless and quite likely be worth more.

Please PM me with the updates of your fact finding mission - I'm actually in the same trade as you - I'm a Software Developer too (C#) with zero debt (with the exception of the Student Loan). I'm also middle class but you can discount me on the white part - I'm mixed race and can fairly say that it hasn't resulted in me being showered in preferential treatment from the government in some way. Still, I'd really like to hear about how your trip goes. We've toyed with Australia and New Zealand, but never bothered to look deeply at it.

Totally with you on the slag point. It probably sounds awful to say, but one major problem that this country has is that the people we don't want to be having kids, are, where as the ones that we want to and are probably going to raise stable kids, aren't - and we know that the main cause of that is the inability to have a stable "nest" to start with. I.e. I'm sure we'd get served notice if we told our LA that we were having a baby.

Well I'm not sure what the expectatios are regarding moving abroad....I've lived in a few countries for extended periods and everywhere has good and bad points. Just bolting out the door isn't really a sensible reaction unless there is a solid plan behind it regards work/family life and longer term financial planning.

UK is still fairly low for income tax in comparison to most EU countries, rents 'outside of London' look cheap to me(I rent now). House prices are pretty high in most countries. Downsides i see in the UK are weather and very very poor redundancy protection in comparison to other EU countries..

You usually need another language as well as its painful and difficult without it

I get that each place has its pros and cons, and that you might need to learn another language. I was looking at English speaking countries, but I know that they all have their problems and expensive living costs too!

[sympatex]

Please PM me with the updates of your fact finding mission - I'm actually in the same trade as you - I'm a Software Developer too (C#) with zero debt (with the exception of the Student Loan). I'm also middle class but you can discount me on the white part - I'm mixed race and can fairly say that it hasn't resulted in me being showered in preferential treatment from the government in some way. Still, I'd really like to hear about how your trip goes. We've toyed with Australia and New Zealand, but never bothered to look deeply at it.

Totally with you on the slag point. It probably sounds awful to say, but one major problem that this country has is that the people we don't want to be having kids, are, where as the ones that we want to and are probably going to raise stable kids, aren't - and we know that the main cause of that is the inability to have a stable "nest" to start with. I.e. I'm sure we'd get served notice if we told our LA that we were having a baby.

I get that each place has its pros and cons, and that you might need to learn another language. I was looking at English speaking countries, but I know that they all have their problems and expensive living costs too!

I will let you know for sure, i'll send u a blank pm so i have it in my history as a reminder! Sorry i didn't need to even say white my point was i seem to fit into a silent majority which is being shafted from all sides. Parents generation shafting us for their pensions, the generation below (and ours) shafting us by living off the state. Colour certainly isn't on my agenda as an issue, was just meaning to describe myself!

haha i agree however as imply no one can say who can or can't have kids, even though 'we' know they probably will need our help to raise them at a cost of our own. (monies!!)

C#? ouchy far to maths for my liking i prefer words! I work predominently in Sybase (DBMS) with occasional Oracle fun & powerbuilder (sybase's scripting language)

When i mention it to some people about going abroad they always focus on the job aspect, "Why do you think australia will have the job you want/need?". It's not just the job, its life. I cannot see an end to this country getting out of the situation its in and someone has to pay for it and its going to be me AGAIN.

[scottbeard]

http://secretdiaryofamortgagebroker.blogspot.com/2011/08/were-all-going-on-summer-holidaynot.html

According to the secret diary of a mortgage broker everything is back to normal, great deals at 90% are go, canny buyers get yourself a bargain and get your foot on the housing ladder, we're all saved, hooray!

I am now moving into seriously planning to get the hell out of this country. It's FUBAR and will never, ever be fixed.

So one mortgage broker has one good month and now you're planning to emigrate

Other countries work for some people, but you really must spend a lot of time checking out the colour of the grass before deciding it really is greener.

Case in point: someone in my family moved to Spain and lasted less than 6 months before they came back. Their young son just couldn't cope with the heat: not something they had considered.

[Agentimmo]

I will let you know for sure, i'll send u a blank pm so i have it in my history as a reminder! Sorry i didn't need to even say white my point was i seem to fit into a silent majority which is being shafted from all sides. Parents generation shafting us for their pensions, the generation below (and ours) shafting us by living off the state. Colour certainly isn't on my agenda as an issue, was just meaning to describe myself!

haha i agree however as imply no one can say who can or can't have kids, even though 'we' know they probably will need our help to raise them at a cost of our own. (monies!!)

C#? ouchy far to maths for my liking i prefer words! I work predominently in Sybase (DBMS) with occasional Oracle fun & powerbuilder (sybase's scripting language)

When i mention it to some people about going abroad they always focus on the job aspect, "Why do you think australia will have the job you want/need?". It's not just the job, its life. I cannot see an end to this country getting out of the situation its in and someone has to pay for it and its going to be me AGAIN.

Come to France. The govt give decent tax breaks for you to have kids ! Have 2 and it's not bad. Have 3....becomes very interesting financially. You need to be working to get the tax breaks though. Free houses, tv's, washing machines for 18yr old single mums don't really exist.

You're in IT ? Should be OK to find a job where English is spoken. Renting is also much easier than in the UK. I'd advise you to learn the lingo if you plan to stay > 2 yrs though.

[Superted187]

I will let you know for sure, i'll send u a blank pm so i have it in my history as a reminder! Sorry i didn't need to even say white my point was i seem to fit into a silent majority which is being shafted from all sides. Parents generation shafting us for their pensions, the generation below (and ours) shafting us by living off the state. Colour certainly isn't on my agenda as an issue, was just meaning to describe myself!

haha i agree however as imply no one can say who can or can't have kids, even though 'we' know they probably will need our help to raise them at a cost of our own. (monies!!)

C#? ouchy far to maths for my liking i prefer words! I work predominently in Sybase (DBMS) with occasional Oracle fun & powerbuilder (sybase's scripting language)

When i mention it to some people about going abroad they always focus on the job aspect, "Why do you think australia will have the job you want/need?". It's not just the job, its life. I cannot see an end to this country getting out of the situation its in and someone has to pay for it and its going to be me AGAIN.

Don't sweat it, I understand the point that you were making

Again, I feel the same as you. I'm currently a work horse. Of the money I earn, approx 33% goes to the state to dish out however it sees fit. Of the remaining bit, 20% goes to my landlord to help pay off his mortgage.

I'm just being used. So I'm understandably looking at ways that will top me from being used. Have you thought about doing Contract work over here before you go? I'm also looking into this just because it's more lucrative. A former colleague of mine advised me before I left, that I could take risks while I was young and didn't have any commitments. This has really been in my head since. I know a few people on here are IT contractors - I'll be asking them some questions soon

[sympatex]

Come to France. The govt give decent tax breaks for you to have kids ! Have 2 and it's not bad. Have 3....becomes very interesting financially. You need to be working to get the tax breaks though. Free houses, tv's, washing machines for 18yr old single mums don't really exist.

You're in IT ? Should be OK to find a job where English is spoken. Renting is also much easier than in the UK. I'd advise you to learn the lingo if you plan to stay > 2 yrs though.

haha sounds fun but i was awful at languages at school and i think i'm too old and fat now to work it out. I think moving away it will be an 'isolating' experience and the lack of english spoken around me would emphasise that. I may never move i just want to try and see what else is out there while i dont have kids, financial comitments or other dependants.

Skiing season sounds appealing though in France, not so much skiing in Aus afaik.

[sympatex]

Don't sweat it, I understand the point that you were making

Again, I feel the same as you. I'm currently a work horse. Of the money I earn, approx 33% goes to the state to dish out however it sees fit. Of the remaining bit, 20% goes to my landlord to help pay off his mortgage.

I'm just being used. So I'm understandably looking at ways that will top me from being used. Have you thought about doing Contract work over here before you go? I'm also looking into this just because it's more lucrative. A former colleague of mine advised me before I left, that I could take risks while I was young and didn't have any commitments. This has really been in my head since. I know a few people on here are IT contractors - I'll be asking them some questions soon

hah few!

I don't know if i would be any good at contract work, i dont lack confidence i just fail to tell people accurately what i'm capable of doing, i seem to be able to tell them what i can't do. Probably comes from working for BT for too long. I don't have many formal qualifications excluding degree so i am doing the OCA/OCP in oracle currently to get some formal stuff on there.

In a 'perfect' world, my situation would go something like, Go to Australia for the 3 week holiday, find out they can't get enough of DBAs and ask me to come back on a 1year working holiday VISA (while i'm under 31).

I come back from holiday, apply for voluntary redundency which BT is quite keen on encouraging currently. Get my lump sum, invest most, put some in my pension and leave with a few k's in the bank to live in Austrlia for a year working as (a contractor i guess through agency).

Hopefully after the year i have made up my mind whether i want to stay if i haven't decided yet i will apply for a 2nd year working holiday visa and by the end of the 2 years make the decision. 2 years is along time and i don't know how i'll feel by then. Maybe the UK will be a good value place to live by then?! Who knows.