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Recession Unavoidable, Trying To Avoid Depression, Qe In Next 6 Weeks

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Sky News is headling with Economic Crisis. Their main story just involved their business guy saying that the global economy is now on the brink, that we are in the same situation as we were in re Lehmans BUT worse, and that a recession is now inevitable.

Said that it is no longer a question of trying to avoid a recession but trying to avoid a depression. QE will happen in the next 6 weeks.

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Sky News is headling with Economic Crisis. Their main story just involved their business guy saying that the global economy is now on the brink, that we are in the same situation as we were in re Lehmans BUT worse, and that a recession is now inevitable.

Said that it is no longer a question of trying to avoid a recession but trying to avoid a depression. QE will happen in the next 6 weeks.

Translation: "Our paymasters in the banks are looking really shaky again and we've borrowed up to and over the hilt so rather than force the banks to take their losses and for us to cut back on spending beyond out means, we're just going to print up some more money like we did last time.

Ignore the fact that the last lot of money printing caused inflation to shoot to circa 5% so God knows what this lot will do, because if we don't do it we are all DOOMED. Therefore please don't complain that your finances are squeezed even harder as the cost of living shoots further through the roof, rest safe knowing that the bankers shall have their bonuses this Christmas.

Thank you."

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Translation: "Our paymasters in the banks are looking really shaky again and we've borrowed up to and over the hilt so rather than force the banks to take their losses and for us to cut back on spending beyond out means, we're just going to print up some more money like we did last time.

Ignore the fact that the last lot of money printing caused inflation to shoot to circa 5% so God knows what this lot will do, because if we don't do it we are all DOOMED. Therefore please don't complain that your finances are squeezed even harder as the cost of living shoots further through the roof, rest safe knowing that the bankers shall have their bonuses this Christmas.

Thank you."

Don't forget the VAT hike drops out in Feb, so it will look like inflation is coming down.

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Three months!

Don't remind me. :o

Still this year's annual HPC Christmas retail thread should have some real spice to it. If ever there was a year when people were actually likely to cut back on their Xmas spending, this is it.

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Sky News is headling with Economic Crisis. Their main story just involved their business guy saying that the global economy is now on the brink, that we are in the same situation as we were in re Lehmans BUT worse, and that a recession is now inevitable.

Said that it is no longer a question of trying to avoid a recession but trying to avoid a depression. QE will happen in the next 6 weeks.

Someone should ask him, if he thinks our current situation is worse than the one that took Lehman... and we used QE then... if he thinks using QE again will make the next crisis even bigger than this one.

It's always been about avoiding depression... the (US) laws that defended the world against depressions were repealed in 1999... it's a bit too late now to go about trying to shut that barn door... the horse has bolted.

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Don't remind me. :o

Still this year's annual HPC Christmas retail thread should have some real spice to it. If ever there was a year when people were actually likely to cut back on their Xmas spending, this is it.

Yes.

We really don't do it and the wife will be working on Christmas day/ boxing day this year.

I bought a small tree last year for 8 quid, it's grown pretty well outside and will be brought back in to be drapped with lights (3 quid from Sally Anne's!) Christmas recycled it is....

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Yes.

We really don't do it and the wife will be working on Christmas day/ boxing day this year.

I bought a small tree last year for 8 quid, it's grown pretty well outside and will be brought back in to be drapped with lights (3 quid from Sally Anne's!) Christmas recycled it is....

+1. Last year's tree is thriving in a pot outside, ready for re-use.

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+1. Last year's tree is thriving in a pot outside, ready for re-use.

Great idea. I always struggle to find a decent tree near us for less than £45. Most that I picked up (and put down again immediately) last year had £60 written on the label.

Having said that, other punters couldn't get enough of them... there was a traffic jam to get into the Delamere Forest shop...

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+1. Last year's tree is thriving in a pot outside, ready for re-use.

Christmas Tree?!?!?! ...so last decade. you know with all those BTL'ers discarding their twigs and vases i'm going for the much cheaper alternativity ;)

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all they have really done is passed the massive banking debts over from the banks to the governments.

its not banks in trouble now but entire countries.

the debt is still there and has got bigger not smaller, so nothing has really happened in the last 3 years since the lehman crisis, except the fact that the debts are bigger than ever.

in 3 years they will be even bigger than they are today.

thats the reality.

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But, but the new chief of the IMF was wheeled out yesterday and said there won't be a global double dip recession!

that's because we're still on the first dip

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But, but the new chief of the IMF was wheeled out yesterday and said there won't be a global double dip recession!

<for him>, as he sipped some more Chateau Rothschild.

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The markets have been bouncing around in precisely the same pattern as they did in August/Sept 2008 - between 11500 and 10700 (ish). USD is strengthening, and gold and AUD are weakening.

I wonder who is going to blow up this time?

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lol, "trying to avoid depression".........too late......... :blink:

Oh yes, it's that time of year when Merv tries "the only tool left in the box".

Unfortunately it's about as much use as a chocolate teapot.

This is getting beyond pathetic now. Try raising interest rates you bunch of limp wrists. :rolleyes:

Edited by Wait & See

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Great idea. I always struggle to find a decent tree near us for less than £45. Most that I picked up (and put down again immediately) last year had £60 written on the label.

Having said that, other punters couldn't get enough of them... there was a traffic jam to get into the Delamere Forest shop...

Tesco? Got mine there a few days before Christmas...12 quid down to 8 for some reason.

Buried pot in the ground, helps to keep them moist.

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And the UK has Sir Mervyn at the financial helm and he hasn't found the route out for the UK in getting on for 4 years and now it'll be sorted in 6 weeks. Yeah right.

All the financial "brains" in the world have been working on it for years and years and getting it wrong and now they'll have it sorted in 6 weeks. End of October it is then :lol:

At least during the last recession there were some alternative opinions about the best way out of the problem, even in the mainstream media and even within political parties. These days it's nearly all acolytes and creeps everywhere in the mainstream etc and just looking not to rock the boat.

Edited by billybong

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I heard two phrase on Skynew today that I havent heard in 3 years. "Systemic Failure" and "Credit Crunch".

Perhaps the first phrase has merit. The markets are not behaving as they should. Bad new use to mean the share prices would go down, while goods new meant share prices would go up. Unfortunatly this is not entirely true. Now bad news can cause the market to decrease and then rally back, while bad new can cause a massive increase and then decrease in the indices.

One of the main reasons for this is volatility, it makes it heard for fund managers to make any money and so they short the market trying to make a few quid from the indices, sometimes this pays off massively mostly they just lose their money.

A credit crunch is where banks stop lending out the capital they have. Since 2008 most UK banks have been recapitised and some of them notable the largest bank in the world, the Royal Bank of Scotland currently has a share price of around 22p a share. Pre-2008 it was around 700p (£7.00 a share). It is 86% owned by the tax payer who bought the shares at 50p a share is is currently being sued by the US for its participation in the US housing collapse, it has weak lending figures in the UK and I personally dont think it could take any more shocks.

I would say RBS is at risk, not just in that it could run out of money . . . again but could go bankrupt with taxpayers losing billions because of it. No more Natwest, RBS, Coutts and what about the customers, well they are protect up to 50k each but the problem is, theres not enough taxpayer money to pay the liabilities.

Its a damn mess and one of the main things this has to do with housing, is there will be a continued period, perhaps 15-20 years of stagnant house prices as people struggle to get mortgages,

What about first time buyers ? There wont be any, I suspect the first chance people get to home ownership is inherited property from their folks.

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  • 331 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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