Jump to content
House Price Crash Forum
Sign in to follow this  
0q0

" Calm Down Dears! " Says Auntie Beeb

Recommended Posts

Just seen the News 24 Business Report.

Well-known mortgage co spokesman guest didn't seem to think UK will suffer same extent as US. Fair play, it's a smaller pond here.

But he said that the problem is that UK funds have investments in US sub-prime. Well, we all know that here.

He said UK sub-prime situation is nothing like the US in terms of size, ours being only 9% to quote him.

He suggested that the fan will only be hit by the brown stuff if we go higher with interest rates, like 6.25% plus.

The BBC's own in-house correspondent chuckled reassuringly (or tried to) that 6% has been signalled as the probable peak of IRs.

Breathe in and out, and relaaaaaax, Auntie is here.

Share this post


Link to post
Share on other sites
Guest The_Oldie

I just saw that.

Julia Caesar had Ray Boulger on with Evan Davies.

I liked the raised eyebrow look from Evan Davis when Boulger said "I don't think the UK problem is even remotely as bad in the US", after Davis had voiced his concerns that we will have a home grown subprime problem.

Share this post


Link to post
Share on other sites
I just saw that.

Julia Caesar had Ray Boulger on with Evan Davies.

I liked the raised eyebrow look from Evan Davis when Boulger said "I don't think the UK problem is even remotely as bad in the US", after Davis had voiced his concerns that we will have a home grown subprime problem.

Hi Oldie, I missed any eyebrow flash, I just tend to guess that they rehearse the gist or exchanges to present some sort of take which seemed to me to be (in the words of Bart Simpson) "Don't have a cow!"

Share this post


Link to post
Share on other sites
Guest vicmac64
Just seen the News 24 Business Report.

Well-known mortgage co spokesman guest didn't seem to think UK will suffer same extent as US. Fair play, it's a smaller pond here.

But he said that the problem is that UK funds have investments in US sub-prime. Well, we all know that here.

He said UK sub-prime situation is nothing like the US in terms of size, ours being only 9% to quote him.

He suggested that the fan will only be hit by the brown stuff if we go higher with interest rates, like 6.25% plus.

The BBC's own in-house correspondent chuckled reassuringly (or tried to) that 6% has been signalled as the probable peak of IRs.

Breathe in and out, and relaaaaaax, Auntie is here.

Share this post


Link to post
Share on other sites
Guest vicmac64

Ahaaah!!

Auntie is here - robbing us blind every year - Auntie puts her hands in our pockets and takes our money to waste it on lies and deceits ( I say get rid of the BBC)

Share this post


Link to post
Share on other sites

Can someone tell me why the BBC is so bias on this issue and so bullish in nature? Thought they were supposed to be lefties if anything with the last true bastion of trade-unionism etc, not rampant capitalists!?

I was watching the 10 o'clock news tonight and they had a brief spot on the stock markets. They said the FTSE suffered a large fall of 122 points due to US sub-prime worries and that the dow had also suffered 'substantial' losses. I rushed to check on the internet the extent of the 'losses' and was shocked to see it....

.... was down 3 8 7 points!!

That is a HUGE loss, probably more that any other single day loss in the past few months. It is BIG news and they choose to ignore the figure and give it a brief mention about sixth down the running order somewhere behind some bo**ocks about BAA ownership! :blink:

Share this post


Link to post
Share on other sites
Can someone tell me why the BBC is so bias on this issue and so bullish in nature? Thought they were supposed to be lefties if anything with the last true bastion of trade-unionism etc, not rampant capitalists!?

I was watching the 10 o'clock news tonight and they had a brief spot on the stock markets. They said the FTSE suffered a large fall of 122 points due to US sub-prime worries and that the dow had also suffered 'substantial' losses. I rushed to check on the internet the extent of the 'losses' and was shocked to see it....

.... was down 3 8 7 points!!

That is a HUGE loss, probably more that any other single day loss in the past few months. It is BIG news and they choose to ignore the figure and give it a brief mention about sixth down the running order somewhere behind some bo**ocks about BAA ownership! :blink:

...these lefties are worried about their BTLs.... :lol::lol::lol:

Share this post


Link to post
Share on other sites
I just saw that.

Julia Caesar had Ray Boulger on with Evan Davies.

I liked the raised eyebrow look from Evan Davis when Boulger said "I don't think the UK problem is even remotely as bad in the US", after Davis had voiced his concerns that we will have a home grown subprime problem.

Ray Boulger is a mortgage salesman ... end of.

It's like asking a drug dealer's opinion of how he feels about the side effects of heroin usage.

Share this post


Link to post
Share on other sites
The BBC is a big and varied organisation. Evidence:

http://www.bbc.co.uk/blogs/thereporters/ro...s_poison_1.html

The Dow dropped its last 100 points in the last few moments of trading, and the Ten o'clock News is not the most "agile" of programmes.

Thanks for posting that link, 27R. My favourite bit: "...However there are CDOs made out of other CDOs, called CDOs squared, which are marketed as high quality investments - and they've been bought by the "one-born-every-minute" brigade. What's more, there's accumulating evidence that even the simpler CDOs have been bought by naïve investors, who had no idea what they were buying..."

Share this post


Link to post
Share on other sites
Guest wrongmove
Nothing to see Here, now off to bed.

:unsure:

I've been checking out my second favourite BB, Paulypilot's Pub over on TMF. There are a few pretty hard-nosed city types who have worked the markets for up to 30 years who post on there - I find it a good place for a reality check sometimes - these are not the types to be bounced by a bit a short term volatility.

Well, it was very interesting. The impression I got was that days like today happen from time to time. However many traders are pretty inexperienced - they call it agism in the city - and these guys are "panicing", not a word they would use lightly. The more experienced are not panicing, but they are certainly "interested". Apparently it is not tooooo unusual to see overnight IRs fluctuate around base rates - both higher or lower. However, if it continues for more than a few days, then even the experienced guys will be getting excited.

I am off on holiday for a couple of weeks or so (I am sure I will be sorely missed :lol: ). No internet, no newspapers - bliss! Today's "action" certainly has me wondering what I will return to. We have seen a lot of SM volatility these past weeks and months, but nothing that has got me worried - just the usual "silly season" gyrations. However, this one smells a bit different to me. I'm certainly not calling a SM crash tomorrow, but the probability "feels" higher to me than in the earlier wobbles. If I had any substantial share holdings, I think I would be liquidating them before I went away, just for piece of mind.

Share this post


Link to post
Share on other sites
Guest wrongmove
:unsure:

I've been checking out my second favourite BB, Paulypilot's Pub over on TMF. There are a few pretty hard-nosed city types who have worked the markets for up to 30 years who post on there - I find it a good place for a reality check sometimes - these are not the types to be bounced by a bit a short term volatility.

Well, it was very interesting. The impression I got was that days like today happen from time to time. However many traders are pretty inexperienced - they call it agism in the city - and these guys are "panicing", not a word they would use lightly. The more experienced are not panicing, but they are certainly "interested". Apparently it is not tooooo unusual to see overnight IRs fluctuate around base rates - both higher or lower. However, if it continues for more than a few days, then even the experienced guys will be getting excited.

I am off on holiday for a couple of weeks or so (I am sure I will be sorely missed :lol: ). No internet, no newspapers - bliss! Today's "action" certainly has me wondering what I will return to. We have seen a lot of SM volatility these past weeks and months, but nothing that has got me worried - just the usual "silly season" gyrations. However, this one smells a bit different to me. I'm certainly not calling a SM crash tomorrow, but the probability "feels" higher to me than in the earlier wobbles. If I had any substantial share holdings, I think I would be liquidating them before I went away, just for piece of mind.

ECB Launching 3-Day Refinancing Tender to Provide Liquidity

Link from cgnao. It gets more "interesting".......

Share this post


Link to post
Share on other sites

A good example of how nobody really seems to know how much subprime lending there is in the UK.

Ray says 9% yet earlier in the week the papers were saying 5% thats a big difference, truth is no one knows, although as we are all aware its probably far higher than any "expert" imagines. :lol::lol::lol:

Share this post


Link to post
Share on other sites
Can someone tell me why the BBC is so bias on this issue and so bullish in nature? Thought they were supposed to be lefties if anything with the last true bastion of trade-unionism etc, not rampant capitalists!?

They're university-educated trendy lefties, hybrids of the intellectual left of Michael Foot and the spin obsession of NuLab. More importantly, the Government decides how much they can hike the licence fee by, and so their no. 1 priority is to lick the relevant posteriors. Given that in the event of a full-scale HPC, this Government would be about as likely to get re-elected as Hitler would to win a seat in the Knesset, averting said HPC is effectively a vested interest of the BBC.

But basically you're right: from the middle rungs upwards, your typical BBC 'leftie' is someone who'll worry about underachieving black schoolboys while munching her (and it usually is a her) Fairtrade tofu wrap, while at the same time complaining about her problem tenants and the increasing cost of running her 4x4.

Share this post


Link to post
Share on other sites
A good example of how nobody really seems to know how much subprime lending there is in the UK.

Ray says 9% yet earlier in the week the papers were saying 5% thats a big difference, truth is no one knows, although as we are all aware its probably far higher than any "expert" imagines. :lol::lol::lol:

....they are all guessing ......with sub prime you should add many of the self certs and IO's and many BTLers (investors) who bought at the top of the market even off plan and still to complete..... with property prices falling....

Share this post


Link to post
Share on other sites

Probable peak of interest rates 6%? Pah, that's what they said about rates when they were 4.5% - 4.75% will be peak, then 5, then 5.25 etc...

Share this post


Link to post
Share on other sites
They're university-educated trendy lefties, hybrids of the intellectual left of Michael Foot and the spin obsession of NuLab. More importantly, the Government decides how much they can hike the licence fee by, and so their no. 1 priority is to lick the relevant posteriors. Given that in the event of a full-scale HPC, this Government would be about as likely to get re-elected as Hitler would to win a seat in the Knesset, averting said HPC is effectively a vested interest of the BBC.

But basically you're right: from the middle rungs upwards, your typical BBC 'leftie' is someone who'll worry about underachieving black schoolboys while munching her (and it usually is a her) Fairtrade tofu wrap, while at the same time complaining about her problem tenants and the increasing cost of running her 4x4.

Read the " Its Grim up North (London)" cartoon strip in Private Eye.

A brilliant parody of BBC types.

In their totally metro-centric life, the world is defined as.......

  • Gender Politics

  • NuLabour

  • Property

Even Iraq is a non-issue for them.

Share this post


Link to post
Share on other sites
They're university-educated trendy lefties, hybrids of the intellectual left of Michael Foot and the spin obsession of NuLab. More importantly, the Government decides how much they can hike the licence fee by, and so their no. 1 priority is to lick the relevant posteriors. Given that in the event of a full-scale HPC, this Government would be about as likely to get re-elected as Hitler would to win a seat in the Knesset, averting said HPC is effectively a vested interest of the BBC.

But basically you're right: from the middle rungs upwards, your typical BBC 'leftie' is someone who'll worry about underachieving black schoolboys while munching her (and it usually is a her) Fairtrade tofu wrap, while at the same time complaining about her problem tenants and the increasing cost of running her 4x4.

Couldn't describe those guys better.

I've run into a few of them every now and again: my general impression is that while they occasionally seem to get the right answer, their method of arriving at said answer betrays a lack of understanding of many of the subtleties of the situation. The place appears to be vulnerable to some serious 'groupthink' - BBC guys seem to come across as extremely smug and self-assured, and tend to laugh off dissenting viewpoints. A healthy dose of scepticism, independent thinking and ability to ask difficult questions would do the BBC a world of good.

Presumably, however, those exhibiting such qualities would be somewhat 'off-message', an approach that's undoubtedly unfavourable to the hierarchy. Especially considering, as Bugheri correctly puts it, the hierarchy's proximity to Government, and dependency where funding is concerned.

Of course, this is a very generalised view. No doubt some BBC staff work quite differently - I just haven't come across many of them, either in person or in their broadcasts.

Share this post


Link to post
Share on other sites
Breathe in and out, and relaaaaaax, Auntie is here.

Has anyone else noticed that they only put the market data on the front page of the bbc news website when there's a big fall? The rest of the time you have to go through to the business section to see it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 356 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.