Credit deflation and the reflation cycle to come (part 2)

[Barnsey]

49 minutes ago, TheCountOfNowhere said:

Spoke to a friend of mine who has listed there house ar 4x what they could realistically afford to pay for it.

 

I thought they would get 0 viewings 

 

8 viewings in 3 weeks, no offers tho as they are really chancing their arm. At the price listed tho you'd be mad to even view it. 

This is in the sw where things were starting to fall apart. 

 

Boris bounce or are they putting something in the water. 

Feeling like jumping off the nearest railway bridge here too, overpriced houses which have sat on the market for 8+ months now selling, one house we liked went sold stc in 2 days (Staffordshire). I’m pretty sure 99% have no feckin clue what’s right ahead of us, but then again this negative perspective has held me back, nevertheless I’m now waiting until Autumn at the earliest before even thinking of viewings again.

[TheCountOfNowhere]

16 minutes ago, Barnsey said:

Feeling like jumping off the nearest railway bridge here too, overpriced houses which have sat on the market for 8+ months now selling, one house we liked went sold stc in 2 days (Staffordshire). I’m pretty sure 99% have no feckin clue what’s right ahead of us, but then again this negative perspective has held me back, nevertheless I’m now waiting until Autumn at the earliest before even thinking of viewings again.

There's no rhyme or trasin for it ss far as i can tell. No new policy or more free cash. 

Must be people buying into the msm pre spring narrative. 

That feel good factor is well and truly gone now. 

[Barnsey]

1 minute ago, TheCountOfNowhere said:

There's no rhyme or trasin for it ss far as i can tell. No new policy or more free cash. 

Must be people buying into the msm pre spring narrative. 

That feel good factor is well and truly gone now. 

I think what I’ve come to realise is that it’ll take an upward swing in unemployment to change sentiment, and although I didn’t think we’d be far off that point, bat flu will most likely act as an accelerant.

[Starsend]

4 hours ago, onlyme said:

Any western government that prioritises the economy above this situation is fucked to oblivion. 

: https://www.instagram.com/p/B9gmYPLJFt_/

I am a nurse and right now I am facing this medical emergency. I'm afraid too, but not of going shopping, I'm afraid to go to work. I am afraid because the mask may not adhere well to the face, or I may have accidentally touched myself with dirty gloves, or maybe the lenses do not completely cover my eyes and something may have passed.

I am physically tired because the protective devices hurt, the lab coat makes me sweat and once dressed I can no longer go to the bathroom or drink for six hours. I am psychologically tired, as are all my colleagues who have been in the same condition for weeks, but this will not prevent us from doing our job as we have always done. I will continue to take care of my patients, because I am proud of and in love with my job. What I ask anyone who is reading this post is not to undo the effort we are making, to be selfless, to stay at home and thus protect those who are most fragile. We young people are not immune to coronavirus, we too can get sick, or worse, we can infect. I can't afford the luxury of going back to my house quarantined, I have to go to work and do my part. You do yours, I ask you please.

Gordon Bennet! Typical woman, moan, moan moan 😂

[Lavalas]

10 hours ago, confused said:

Dude that sort of spending takes YEARS to filter through!!!!

Edit @BadAlchemy beat me to it!!

The infrastructure in the UK is totally shite......they would do well to rip it all up and start again! 

I remember travelling on a TGV in France OVER 30 years ago and it was doing over 250kmh then!!

And I worked for what was British Rail for a while, what a complete load o shite that was too....they should have had more freight on the rail network for decades but that's a complete FUCK UP TOO!!!!" Soz I'm getting depressed again.... 

That’s true, but it’s also kind of the ENTIRE premise for this thread.

[Democorruptcy]

BoE cut rates from 0.75 to 0.25

[CVG]

I'd much rather that rates went up - kill off the zombie debt laden companies - and redistribute their order book to the remaining better quality companies.

[Democorruptcy]

BoE £100bn  special lending scheme to help small and medium businesses. 

[TNS]

Cheap money for all my banker buddies! #sarcasm

EDIT: made sweet F A difference to futures.

[TheCountOfNowhere]

They've gone and donw ut... 0.25% and money for 'business' 

[Calcutta]

Been checking out my work pension, they don't make it simple. Seems like the equity funds are balls deep in Apple, Amazon, Facebook. Fuck. My natural reaction is to get it all moved asap but my employer contributes 12% and I've no idea if they'd pay it into a sipp directly, if they'd have crazy charges to withdraw, if they'd pay the 12% into another fund. It's a fucking minefield and I'm bollocked if I'm owning grands worth of fucking Apple as I watch it collapse. What a time to be alive.

[Majorpain]

23 minutes ago, Democorruptcy said:

BoE cut rates from 0.75 to 0.25

To be expected, but is this going to be effective in the circumstances or a "we tried" moment as it goes off the cliff?

Unfortunately with the damage to company cash flow from Europe and the UK gradually shutting down, im going for "we tried".

Chancellors budget later on should be one to watch, hello epic spending!

[MrXxxx]

19 hours ago, kibuc said:

To be fair, if there ever is a good justification for debt holiday, for me this would be it - an external, once-in-a-blue-moon event impossible to foresee.

 

So let the banks provide such a debt holiday, and if their foresight/business acumen is so limited ( it doesn't appear so when they are making profits) then let them `go  to the wolves`....this is now the real issue, both owners and banks having previously been bailed out/supported have now lost any fear of failure, so make irrational/poor decisions.

[Chewing Grass]

21 minutes ago, Democorruptcy said:

BoE £100bn  special lending scheme to help small and medium businesses. 

So can I 'borrow' money off the fuckers, spunk it all by sitting at home waiting for business that doesn't appear. Then shut the company when its bust so they get non of their printy money back?

[BearyBear]

At 0.25% rate we should no longer be afraid of Coronavirus, good job Mr Carnage!

[BearyBear]

btw. have you seen a 10Y gilts auction yesterday..? It averaged at 0.31%.... that's very low! Are the pension funds buying it..?

[MrXxxx]

19 hours ago, kibuc said:

They might do if they ask for it  When you're in trouble, be upfront about it with your landlord and you might be surprised. After all, allowing a delayed payment is much better business than kicking the tennant out and not receiving any.

Mmmm...you obviously know a lot more logically thinking landlords than I do!...the majority I know are greedy buggers who make their decisions based on this premise, much like the property owners who `Won't give it away` (despite still making massive gains) and stay/suffer their current situation due to greed.

[TheCountOfNowhere]

17 minutes ago, Majorpain said:

To be expected, but is this going to be effective in the circumstances or a "we tried" moment as it goes off the cliff?

Unfortunately with the damage to company cash flow from Europe and the UK gradually shutting down, im going for "we tried".

Chancellors budget later on should be one to watch, hello epic spending!

Spending...what? 

 

They've no money. Trillions in debt 

 

Hello epic taxation and theft via QE 

[TheCountOfNowhere]

5 minutes ago, Tdog said:

I went to Bournemouth the other week for a quick look around and to see what i could get for my money.

I decided i will never live there again.

Traffics a joke and house prices are even worse. ... as they say never go back in life.

They're about to get worse, or is it better. 

[MrXxxx]

18 hours ago, Yellow_Reduced_Sticker said:

called HL today took forever to get through, anyway they tell me they got my email, however they CANNOT always get the price at a time of market volatility!

so i asked how come ALL the other orders went through? was just fobbed off with the same BS, so i said i expect to get my BP order and i will hear from them when its done. he just responded with 'we'll look into it'

@DurhamBorn is there any other action i can take with HL?

Was considering opening a HL vs a AJ Bell account, and this has put me off...any horror stories about the latter before I make the jump?

[Majorpain]

5 minutes ago, TheCountOfNowhere said:

Spending...what? 

 

They've no money. Trillions in debt 

 

Hello epic taxation and theft via QE 

Thats the entire point of this thread, the amount of debt is too big for the economy to support.

The government/CB needs to devalue the debt through QE to allow it to be supported again.

It doesnt matter if its Labour/Conservative/Monster Raving Looney, they would all do it because its that or the economy collapses.

[Lavalas]

Maybe need a thread for interest rates / getting angry at Carney / house prices. So much noise in this one lately.

[TheCountOfNowhere]

2 minutes ago, Majorpain said:

Thats the entire point of this thread, the amount of debt is too big for the economy to support.

The government/CB needs to devalue the debt through QE to allow it to be supported again.

It doesnt matter if its Labour/Conservative/Monster Raving Looney, they would all do it because its that or the economy collapses.

Its collapse of the economy or collapse of the currency and the economy. 

 

Ive said for years now owning is house is the least of peoples worries. 

 

Money, work, life is worthless. 

 

Ftse up... A bit. 

 

Lowering rates is a sign of weakness not strength 

[Alifelessbinary]

18 minutes ago, MrXxxx said:

Was considering opening a HL vs a AJ Bell account, and this has put me off...any horror stories about the latter before I make the jump?

During market events like Brexit and this week all of the retail brokers are generally terrible at placing orders. I have 4 broker accounts to spread the risk and would say AJBell was marginally the best, but I was using it slightly later than HL.

Its so frustrating seeing amazing prices being snapped up by the instituation while retail investors get the scraps. 

[Democorruptcy]

52 minutes ago, TheCountOfNowhere said:

Its collapse of the economy or collapse of the currency and the economy. 

Ive said for years now owning is house is the least of peoples worries. 

Money, work, life is worthless. 

Ftse up... A bit. 

Lowering rates is a sign of weakness not strength 

DTY is having a mare! I cancelled my £4.95 limit order the other day but had to step today at £4. Interim results are that there weren't enough deaths so -19% on the day.... so far!

https://www.hl.co.uk/shares/shares-search-results/d/dignity-plc-ordinary-shares-12-48143p