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Crunch


TheCountOfNowhere

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Banks are reining in lending at the fastest rate since the global crash as fears rise of an economic slowdown which could  spell chaos for high-risk borrowers following a years-long debt binge.

Business loans suffered their toughest squeeze on availability since the 2008 financial crisis in the final three months of 2019, amid a slump in appetite from lenders.

At the same time a crackdown on access to credit cards intensified, according to Bank of England data, with availability falling for three straight years following warnings from regulators that a risky bubble has blown up.

The figures will intensify speculation that an interest rate cut is needed to boost the flagging economy.'

 

 

Banks squeling for a cut,whooda thunk it?

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4 minutes ago, TheCountOfNowhere said:

... as in credit. 

 

https://www.telegraph.co.uk/business/2020/01/16/banks-crack-lending-fears-dangerous-debt-bubble/?WT.mc_id=tmg_share_tw

 

Banks crack down on lending over fears of a dangerous debt bubble

 

Are the taking the piss? 

 

Maybe the deflation thread should have this. 

'....The figures will intensify speculation that an interest rate cut is needed to boost the flagging economy....'

Good job we left all that wiggle room then. Reducing interest rates from fook all to less than fook all will do.... fook all.

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TheCountOfNowhere
Just now, maynardgravy said:

'....The figures will intensify speculation that an interest rate cut is needed to boost the flagging economy....'

Good job we left all that wiggle room then. Reducing interest rates from fook all to less than fook all will do.... fook all.

They've been lending magiced up cash to anyone who'd have it. Its run out I'd wager. 

The interest rates haven't caused this insane bubble.... The easy money lent at silly rates has. 

 

Britain's subprime. 

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1 minute ago, TheCountOfNowhere said:

They've been lending magiced up cash to anyone who'd have it. Its run out I'd wager. 

The interest rates haven't caused this insane bubble.... The easy money lent at silly rates has. 

 

Britain's subprime. 

Well, there was always going to be a lag. Let's see how itchy the finger of the new printing press master governor is.

Does smell like end game for HPI to me. Just everything else will burn with it.

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TheCountOfNowhere
2 minutes ago, maynardgravy said:

Well, there was always going to be a lag. Let's see how itchy the finger of the new printing press master governor is.

Does smell like end game for HPI to me. Just everything else will burn with it.

Ironically... Over on tos... They now think its going to just keep going up now. 

🤣🤣🤣🤣

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Chewing Grass

Noticed the adverts on the telly about being careful with your money, Cowell is even on one.

Noticed the changes in the T&Cs on your credit card, they are looking to see if you are paying any outstanding debt fast enough, if you are not you will be getting a plan from them to see you do.

All these little cues are out there and for some bizarre reason somebody is spending money to make sure you don't.

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On 16/01/2020 at 22:20, TheCountOfNowhere said:

Ironically... Over on tos... They now think its going to just keep going up now. 

🤣🤣🤣🤣

Comedy writes itself 

On 16/01/2020 at 22:25, Chewing Grass said:

Noticed the adverts on the telly about being careful with your money, Cowell is even on one.

Noticed the changes in the T&Cs on your credit card, they are looking to see if you are paying any outstanding debt fast enough, if you are not you will be getting a plan from them to see you do.

All these little cues are out there and for some bizarre reason somebody is spending money to make sure you don't.

I literally got one today. It all seems like mumbo jumbo but I’ll have to read it later carefully 

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On 16/01/2020 at 22:20, TheCountOfNowhere said:

Ironically... Over on tos... They now think its going to just keep going up now. 

🤣🤣🤣🤣

Ffs lol

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On 16/01/2020 at 22:20, TheCountOfNowhere said:

Ironically... Over on tos... They now think its going to just keep going up now. 

🤣🤣🤣🤣

Please let this be a Gartman standard contra- indicator 

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Bobthebuilder
On 16/01/2020 at 22:25, Chewing Grass said:

Noticed the adverts on the telly about being careful with your money, Cowell is even on one.

Noticed the changes in the T&Cs on your credit card, they are looking to see if you are paying any outstanding debt fast enough, if you are not you will be getting a plan from them to see you do.

All these little cues are out there and for some bizarre reason somebody is spending money to make sure you don't.

And as i keep saying, overdrafts, they do not want anyone to have one anymore.

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47 minutes ago, Bobthebuilder said:

And as i keep saying, overdrafts, they do not want anyone to have one anymore.

Borrowing is for rich people only now.

Seriously.

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Bobthebuilder
19 minutes ago, spygirl said:

Borrowing is for rich people only now.

Seriously.

It is starting to look that way.

I see Martin money saver is advising people to cut down credit card payments etc to get rid of overdrafts. Once all the banks are charging 40% on ODs its gonna be big news and a lot of cash out of the system in the next year or two.

edit to add, or put on the mortgage or personal loan.

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2 minutes ago, Bobthebuilder said:

It is starting to look that way.

I see Martin money saver is advising people to cut down credit card payments etc to get rid of overdrafts. Once all the banks are charging 40% on ODs its gonna be big news and a lot of cash out of the system in the next year or two.

edit to add, or put on the mortgage or personal loan.

Mortgages are only for rich people.

The regulation n oversight on mortgages is very high.

MMR rules mean you need an earned household income of ~30k to get a mortgage.

I doubt any bank wants to write a mortgage less than 50k .

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Chewing Grass

Perhaps its time to fuck-off to the outer-hebrides and become a crofter with 3.5 acres, plus you can leach off Sturgeon via the English.

All yours freehold for 35K and it isn't derelict yet.

https://www.rightmove.co.uk/property-for-sale/property-67448616.html

Here it is in 2009.

https://www.google.com/maps/@58.1968081,-6.2238008,3a,75y,92.61h,68.89t/data=!3m6!1e1!3m4!1s4Mz2ceYKKfU-a8E0vNIkFw!2e0!7i13312!8i6656

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5 hours ago, Chewing Grass said:

Perhaps its time to fuck-off to the outer-hebrides and become a crofter with 3.5 acres, plus you can leach off Sturgeon via the English.

All yours freehold for 35K and it isn't derelict yet.

https://www.rightmove.co.uk/property-for-sale/property-67448616.html

Here it is in 2009.

https://www.google.com/maps/@58.1968081,-6.2238008,3a,75y,92.61h,68.89t/data=!3m6!1e1!3m4!1s4Mz2ceYKKfU-a8E0vNIkFw!2e0!7i13312!8i6656

Wondering what the climate is like there?...just look at the grass in pic 7, and the lens in pic 10! :-) :-) :-)

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