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Monopoly

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Been two weeks on holiday without internet and just came home...dont really want to read back 14 day..can some body bring me up to date in a nutshell ;) ?

Edited by Monopoly

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Been two weeks on holiday without internet and just came home...dont really want to read back 14 day..can some body bring me up to date in a nutshell ;) ?

Boom!

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Credit derivative blowup. Global financial holocaust.

Well not yet to be honest.

Probably just a realisation that a number of investors have been taking on higher risks than they thought in the fixed interest markets meaning that a bit of repricing needs to take place. There will be some heavy losses taken by some parties but little real economy impact once it has been identified where the losses have actually fallen.

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Been two weeks on holiday without internet and just came home...dont really want to read back 14 day..can some body bring me up to date in a nutshell ;) ?

Saddam Hussein is going to destroy the UK in 45 minutes. Quick, duck.

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Brian, Carole, Gerry, Jonty, Kara-Louise and Liam face eviction this week on Big Brother.

Amy Winehouse ended up in hospital after a three day drug & drink binge exhaustion.

Mike Reid died.

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D'you think?

There will be no meltdown but obviously, it'll slow down economic growth slightly next year, which will be dealt with by interest rate cuts .....

No easy solution for those needing a 40% fall in the market.

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Been two weeks on holiday without internet and just came home...dont really want to read back 14 day..can some body bring me up to date in a nutshell ;) ?

Tottenham have got off to their usual crap start to the season.

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Brian, Carole, Gerry, Jonty, Kara-Louise and Liam face eviction this week on Big Brother.

Amy Winehouse ended up in hospital after a three day drug & drink binge exhaustion.

Mike Reid died.

:lol: and rooney injured in first game of the season and will miss england qualifiers don't forget...

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Guest DissipatedYouthIsValuable
There will be no meltdown but obviously, it'll slow down economic growth slightly next year, which will be dealt with by interest rate cuts .....

No easy solution for those needing a 40% fall in the market.

Awww, what a shame. And there's me still wondering how I might be able to afford that 180k flat to spend the rest of my life in with a family.

Shucks. Guess I'll have to take my medical degree elsewhere.

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Brian, Carole, Gerry, Jonty, Kara-Louise and Liam face eviction this week on Big Brother.

Amy Winehouse ended up in hospital after a three day drug & drink binge exhaustion.

Mike Reid died.

I know Big Brother this year is totally crap

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There will be no meltdown but obviously, it'll slow down economic growth slightly next year, which will be dealt with by interest rate cuts .....

No easy solution for those needing a 40% fall in the market.

At last, the voice of reason; if it were last year. Of course cgnao is bonkers but this is real. 40% sounds crazy now because house owners* are a stubborn, ignorant lot; and that's why it will hold and hold and hold, then fall like a big property jobbie going plop in our economic outlook.

They can manage to put up a smokescreen; but not for long. This is real. Maybe they can prop it all up for a couple or three months until all the market wags get their personal finances sorted, then it's a big slide downhill.

By the way, nobody can know how far it will fall and the market is not homogeneous but 40%, however unlikely it seems today, is a conservative estimate.

*This is how we act when we wear this particular hat. Just as we act a certain way when drivers or pedestrians or patients or parents...

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nutshell..

lots of poor people in the states took out big mortgages, interest rates rose, house prices in these areas fell the most, people being reppossed houses in the states not worth as much. The US had been selling this debt onto europe, but they said was AAA top quality debt from the best quality people The european banks find out its really bad debt and people are getting reposessed and the cost of the property doesnt cover the debt anymore.

ARGH, all the banks gets worried, especially about each other, they stop lending and borrow money from each other, because its they know its pass the parcel with a time bomb. Interbank rates start rising, banks that have the most debt, property companies and funds that deal with repackaging debt suffer the most. Most of the central banks see the problem, and attempt to stop falls buy loaning out extra money all at the same time (apart from the BOE).

Whats will be outcome:

Noone is sure, what will happen, noone knows who holds the worst debt, lack of trust between banks and countries, markets all over the place, falling and somtimes rising.

I think its fair to say HPC members have differing views but mine are:

Higher lending criteria, it will harder to get a mortgage

Increased inflation and Interest rates

Volatile markets

Volatile currencies

IMF and central banks intervening

BUT.... i think we will make it through this one if the central banks continue to bail people out, i think there is another couple of years left

or... we could have a depression, falling prices, massive unemployment and falling wages

Edited by moosetea

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There will be no meltdown but obviously, it'll slow down economic growth slightly next year, which will be dealt with by interest rate cuts .....

No easy solution for those needing a 40% fall in the market.

your not a very good bear harris

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