drrayjo Posted January 16, 2008 Share Posted January 16, 2008 It seems like there has been some sort of invisible, irrevocable line crossed today in terms of mass awareness/meme establishment of where houses are really gonna go... The talk on the street, the RICS report, the FTSE response, the banking woes, my father in law telling someone not to buy in a falling market!! Anyway, rejoice, I suppose. (I knew it wouldn't feel quite as good as expected, nothing ever does!) A red letter day (sometimes hyphenated as red-letter day) is any day of special significance.The term originates from Medieval church calendars. Illuminated manuscripts often marked initial capitals and highlighted words in red ink, known as rubrics. The First Council of Nicaea in 325 decreed the saint's days, feasts and other holy days, which came to be printed on church calendars in red. The term came into wider usage with the appearance in 1549 of the first Book of Common Prayer in which the calendar showed special holy days in red ink. Many current calendars have special dates and holidays such as Sundays, Christmas Day and Midsummer Day rendered in red colour instead of black. On red letter days, judges of the English High Court (Queen's Bench Division) wear, at sittings of the Court of Law, their scarlet robes (See court dress). Also in the United Kingdom, other civil dates have been added to the original religious dates. These include anniversaries of the Monarch's birthday, official birthday, accession and coronation. The term "red letter day" is colloquially used to indicate any date of personal significance. Quote Link to comment Share on other sites More sharing options...
57percent Posted January 16, 2008 Share Posted January 16, 2008 Agreed. Something happened today. Even the most simple of sheeple seem to have changed sentiment this morning. Quote Link to comment Share on other sites More sharing options...
ruggedtoast Posted January 16, 2008 Share Posted January 16, 2008 The talk on the street, the RICS report, the FTSE response, the banking woes, my father in law telling someone not to buy in a falling market!! I cant imagine what it would take to make my father in law pipe down about property. He was giving my missus an ear bashing about it again over the weekend. He has finally conceded that prices may stay flat or drop "but only in the north". Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 16, 2008 Share Posted January 16, 2008 Indeed. I sensed it first thing this morning as I turned on Bloomberg and some big money fellows were talkking about going to cash as everything looked bad. Glad I went 100% cash in my current investment account months ago and almost 70% cash in my retirement stuff. If Gold takes a hit today--I mean a real hit--the whole lot could come tumbling down in a matter of days. Why gold? If money is moving out of gold it means fear has taken grip and when fear takes hold people go to the mattresses (cash). Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted January 16, 2008 Share Posted January 16, 2008 I keep using the phrase the meak will inherit the earth, or a 2 bed terrace for 3.5 times ave. salary.. this from a lapsed Catholic/confirmed agnostic...damn just spelt catholic with a capital "C"...bless me father... Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 16, 2008 Share Posted January 16, 2008 (edited) Indeed. I sensed it first thing this morning as I turned on Bloomberg and some big money fellows were talkking about going to cash as everything looked bad.Glad I went 100% cash in my current investment account months ago and almost 70% cash in my retirement stuff. If Gold takes a hit today--I mean a real hit--the whole lot could come tumbling down in a matter of days. Why gold? If money is moving out of gold it means fear has taken grip and when fear takes hold people go to the mattresses (cash). Cash under the mattress is okay in a deflationary environment, but as soon as the herd catches on to the inflationary stunts that are being pulled by governments and central banks, gold will resume its safe-haven status - at least, that's the way I read it. Edited for typo. Edited January 16, 2008 by Methinkshe Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted January 16, 2008 Share Posted January 16, 2008 It seems like there has been some sort of invisible, irrevocable line crossed today in terms of mass awareness/meme establishment of where houses are really gonna go...The talk on the street, the RICS report, the FTSE response, the banking woes, my father in law telling someone not to buy in a falling market!! Anyway, rejoice, I suppose. (I knew it wouldn't feel quite as good as expected, nothing ever does!) Don't worry I am sure the FTSE and Dow will have a bit of a bounce and we will be back to fretting. Incidentally, it was my father in law back in July who managed to tip the balance with mrs bob and got her to agree to rent for a while. So I am grateful to him in more than 1 way now. RB, I thought fear was the reason to go into gold. Are you saying it is both now? Quote Link to comment Share on other sites More sharing options...
It is different this time Posted January 16, 2008 Share Posted January 16, 2008 I cant imagine what it would take to make my father in law pipe down about property. He was giving my missus an ear bashing about it again over the weekend. He has finally conceded that prices may stay flat or drop "but only in the north". I am glad I didn't take the advice of my father in law last year, he had some print out for us from BBC about the "shared ownership". I binned it after they left Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted January 16, 2008 Share Posted January 16, 2008 I am glad I didn't take the advice of my father in law last year, he had some print out for us from BBC about the "shared ownership". I binned it after they left There is only one way to rejoice..... GET OVER TO SINGING PIG AND TAKE THE P*SS!!!! Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted January 16, 2008 Share Posted January 16, 2008 Glad I went 100% cash Still sticking with dollars RB? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 16, 2008 Share Posted January 16, 2008 Don't worry I am sure the FTSE and Dow will have a bit of a bounce and we will be back to fretting. Incidentally, it was my father in law back in July who managed to tip the balance with mrs bob and got her to agree to rent for a while. So I am grateful to him in more than 1 way now. RB, I thought fear was the reason to go into gold. Are you saying it is both now? IMO fear of deflation may be driving the markets (at least in the short-medium term). I know inflation is still rising but I think it may be a lagging indicator--the last dying breaths of the Gordon style miracles worldwide. Now that the bubbles are deflating it follows that deflation will be the new game in town. Huge crashes accross the board will dry up spending and cut oil prices way down. The drivers for inflation are simply not going to be around much longer, IMO. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 16, 2008 Share Posted January 16, 2008 Still sticking with dollars RB? oooh yeah. Sterling is the new fall guy now. The Euro will follow on later this year IMO. Had I been a currency speculator I would have gone three ways into Swissies, Yen and US$. 1.94 today? GBPUSD=X 1 16 Jan 1.9563 Quote Link to comment Share on other sites More sharing options...
Dada Posted January 16, 2008 Share Posted January 16, 2008 (edited) Heavy Profit booking in Gold and Gilts There seems to be a serious move towards profit booking. 881.00 as compared to yerstadays London AM fix of 904.75 a Drop in 2.62% Gold might see modest falls. Also Gold Futures seem to be a bit more realistic now. Today is a red letter day. Now with Bush Begging OPEC to increase production which will drive Oil prices down which will reduce pressure on Gold and Gilts. FTSE will take a tanking today. Dada Edited January 16, 2008 by Dada Quote Link to comment Share on other sites More sharing options...
Variously Posted January 16, 2008 Share Posted January 16, 2008 For me it was seeing an entire tube carriage full of Londoners reading the Metro with the front page headline 'House prices on the brink'. It's not news to me, but it was still a shock to see it in big black typeface. Quote Link to comment Share on other sites More sharing options...
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