Credit deflation and the reflation cycle to come (part 3)

[M S E Refugee]

I really don't see things ending well for Boris the power mad cuntstruck eco nutter.

[Agent ZigZag]

3 minutes ago, M S E Refugee said:

I really don't see things ending well for Boris the power mad cuntstruck eco nutter.

Its like watching The Bunker from WW2. Having been in the company of the London Political Class they truly do live in an echo chamber. and are clueless to how the majority of the country think or live their lives. I dont get too depressed as it is a fad and fashion that we have to live through for now until the next fad comes along.

[Yadda yadda yadda]

11 minutes ago, M S E Refugee said:

I really don't see things ending well for Boris the power mad cuntstruck eco nutter.

I'm not sure if he is attempting to destroy the conservative party or if he has his sights on democracy itself.

Never get high on your own supply. Or in this case never believe your own propaganda.

[JREWING]

15 minutes ago, Yadda yadda yadda said:

I'm not sure if he is attempting to destroy the conservative party or if he has his sights on democracy itself.

Never get high on your own supply. Or in this case never believe your own propaganda.

Worrying.

https://www.bbc.co.uk/news/uk-58973185

Keep some cash on hand. The market won't like more uncertainty. He won't need much of an excuse to execute more control over his subjects. 

 

[Froggy2000]

2 hours ago, DurhamBorn said:

Legislation so mortgages only go to certain eco houses is sinister.Young have always bought the do it upper houses.Once again pulling the rug so only those with huge capital can buy those to then sell/rent to said young.

 

I was thinking about this.  If banks are incentivised to lend on new builds instead of older properties (as they are already via HTB), would that make older properties cheaper?  There would be less credit chasing them which seems to be the biggest driver of prices in most of the country.  It would then be a case of does the higher interest rate offset the lower purchase price.  I ask because I much prefer older properties!

[mcdongle]

16 hours ago, wherebee said:

forgive my stupidity, but is graphene dug, made, or grown?

Look at RNU on the ASX

[Hancock]

3 hours ago, DurhamBorn said:

Legislation so mortgages only go to certain eco houses is sinister.Young have always bought the do it upper houses.Once again pulling the rug so only those with huge capital can buy those to then sell/rent to said young.

 

Its also absolute bollocks, just look at the housing stock in Britain, half of it is close to 100 years or more and falling apart, yet Bojo's coming up with a cunning plan to stop lending to it.

But does Boris really think the banks will let his their bought and paid for Tory party not lend on shite houses, when its what their entire business model is based on.

[Hancock]

1 hour ago, JREWING said:

Worrying.

https://www.bbc.co.uk/news/uk-58973185

Keep some cash on hand. The market won't like more uncertainty. He won't need much of an excuse to execute more control over his subjects. 

 

Ive seen a trickle of articles over the last few days about covid of a similar ilk to this one. 

[Loki]

2 minutes ago, Hancock said:

But does Boris really think the banks will let his their bought and paid for Tory party not lend on shite houses, when its what their entire business model is based on.

They will be happy to lend to make them green. Their only product is debt.

I was hoping the decade of infrastructure would be exciting but it's just going to be 10 years of lies about viruses and co2.

[Hancock]

1 minute ago, Loki said:

They will be happy to lend to make them green. Their only product is debt.

I was hoping the decade of infrastructure would be exciting but it's just going to be 10 years of lies about viruses and co2.

Yes its all just bollocks now the PPE cunts, and their offspring have taken over.

[ThoughtCriminal]

Love me a bit of vertical action 

[JREWING]

34 minutes ago, Hancock said:

Ive seen a trickle of articles over the last few days about covid of a similar ilk to this one. 

He'll go down as the worst PM in history. Thought old shit stabber Brown was awful, this twat makes him look like the Messiah.

[JREWING]

35 minutes ago, Loki said:

They will be happy to lend to make them green. Their only product is debt.

I was hoping the decade of infrastructure would be exciting but it's just going to be 10 years of lies about viruses and co2.

Yep, its all bullshit, get the sheep deeper in debt. Enslave the halfwits. Feel sorry for the under 30's. 

 

[Hancock]

I know there are some lads on here who dont mind getting their hands dirty, and have kids who'd be up for it.

To some degree Bojos heat pump bollocks will get off the ground, could be a "career move" with out a boss, as no boss will have a clue how they're meant to be installed!

https://www.telegraph.co.uk/business/2021/10/19/drastic-shortage-heat-pump-installers-threatens-johnsons-green/

[JMD]

2 hours ago, Froggy2000 said:

I was thinking about this.  If banks are incentivised to lend on new builds instead of older properties (as they are already via HTB), would that make older properties cheaper?  There would be less credit chasing them which seems to be the biggest driver of prices in most of the country.  It would then be a case of does the higher interest rate offset the lower purchase price.  I ask because I much prefer older properties!

I agree with your thoughts. I've always thought 'clever' ways would be found, and I think these initiatives are just part of an emerging government plan for supporting the housing sector... New builds will be ramped, benefitting the big house builders. And older properties will perhaps be snapped up at lower prices via (what's the betting?) yet to be announced new commercial/BTL type mortgages, maybe requiring v large deposits and still with energy upgrade strings attached, but really just a sop to the 'little guy' whereas the real agenda will be to attract big money from the institutions/insurance companies. 

[Lightscribe]

4 hours ago, JMD said:

I agree with your thoughts. I've always thought 'clever' ways would be found, and I think these initiatives are just part of an emerging government plan for supporting the housing sector... New builds will be ramped, benefitting the big house builders. And older properties will perhaps be snapped up at lower prices via (what's the betting?) yet to be announced new commercial/BTL type mortgages, maybe requiring v large deposits and still with energy upgrade strings attached, but really just a sop to the 'little guy' whereas the real agenda will be to attract big money from the institutions/insurance companies. 

The UK’s plebs money is only tied up in two areas. Owned outright property and pensions.

All the BTL brigade and the younger generation have is debt. This can easily be called in by the banks, when IR rise, people can no longer afford costs of living through inflation and assets are seized. This is great for the government as it means they’ll be in servitude forever more. (Almost like the stamp duty holiday was intended frothing the housing market into the stratosphere knowing what was coming later down the line)

With the locked up boomer cash, the government will ‘incentivise’ releasing this however possible. Having one/two pensioners rattling around in a 4 bed house is not what they want. Tax, tax, tax. Force the boomers out of their old, carbon pumping, planet killing dwellings with taxes (which will probably replace council tax).

Next comes pensions, remove the £40k tax relief down to minimum, reduce maximum lifetime limit, remove the tax free lump sum on access, and raise taxes on drawdowns or some kind of means tested method.

In regards to the public sector pensions, it’s far more simple. Most public sector pensions now are linked to state pension age (Alpha scheme etc). Raise state pension age to 70+ and beyond, increase contribution %, so that most opt out as they can’t afford the deductions. Make the carrot impossible to reach in other words.

https://www.thetimes.co.uk/article/public-sector-pension-liabilities-bigger-than-national-debt-vwb9rj6xh

Now all this won’t be vote winning stuff, but they’re past the point of caring about such triviality like that. Dictatorial government powers are now in vogue, they can do whatever the fuck they like.

Alternatively they just can go full on fast forward into crashing the economy through the floor, to get it all out of the way. We can then all look forward to our dystopian 1984 UBI utopia.

[SpectrumFX]

Anybody going green?

I think the logic must be that if you live in crushing poverty in your old age then you'll use less energy or something.

Fucking hell.

 

 

[JimmyTheBruce]

16 hours ago, 23rdian said:

The only other thing that annoys me with them is I don't get the free trade credit on the 1st of the month. Don't know if is based on your sign-up date with them? Or it's the same for everyone?

My family have accounts with II, with varying set ups.  The only instances where the free trade credit isn't given is when they're already on some sort of sign up offer.  If you're paying a monthly fee, you should generally get the free trade credit.

[JimmyTheBruce]

15 hours ago, Harley said:

Interactive Investors have improved their service.  You still get crap answers to questions (like several others) but at least the escalation has worked and apologies have been forthcoming which I look on well.  I like the ability to hold multiple currencies in a SIPP (HRMC does not allow this in any ISA) so you could save a load over HL if you like to trade overseas markets.  They also offer proper access to several overseas exchanges HL don't.  They maybe more expensive than HL so it largely comes down to what you trade.  The HL service levels are IME so bad anyone would look better. 

Frank Hovis has also mentioned the Vanguard SIPP as being really cheap but you are limited to Vanguard products.  I like many Vanguard ETFs though.

AJ Bell do well but they do not offer international access and I don't know about multi currency SIPP accounts.  Like several others, they say they offer overseas shares but these are mainly a few LSE based CDIs.  They provide decent research and a competent interface.  Quite cheap too.

Saxobank also offer multi currency accounts and good overseas exchange access but can be a bit expensive and not all exchange stocks are tradeable (you have to ask them to add them to their list!).

The best outside of a tax wrapper for me is Interactive Brokers even if the interface is odd (but the app is good).  The ultimate in functionality, instruments, research, and low fees.  Apparently they offer a SIPP but I know nothing and it sounds like a specialist (read high asset value) job.  I believe someone here has one.

I also rate Degiro as having a good interface and access to the Nordics (IB don't) but cumbersome funding/withdrawals.

Other contenders include IG and TradeView(?) but I know nothing about them as they did not meet my requirements at the outset.

DYOR.  I summarised everything on a spreadsheet to help me decide given my investing requirements.  My partner and I have a few accounts to spread risk, although several provide fee incentives to use them for everything.

Thanks Harley.  Great summary.

I should probably add Freetrade.  I know it has the stigma of fintech, free trades, Robinhood, etc and no real track record and, as such, may fail the most important test of how confident you are of actually getting your funds back.

But, having said that, it offers ISA and SIPP at a competitive rate, low trading and forex fees, and allows access to a lot of stocks (such as Korean telcos) that I just can't get hold of elsewhere.  They've been threatening to offer European shares for months now, if they come through on that I'll probably be using them more.

Perhaps worth a look as an option alongside a main account with one of the big guys.

[23rdian]

10 minutes ago, JimmyTheBruce said:

My family have accounts with II, with varying set ups.  The only instances where the free trade credit isn't given is when they're already on some sort of sign up offer.  If you're paying a monthly fee, you should generally get the free trade credit.

I do get it but it it doesn't seem to until around the 10th of the month. 

[Chewing Grass]

1 hour ago, SpectrumFX said:

Anybody going green?

I think the logic must be that if you live in crushing poverty in your old age then you'll use less energy or something.

Fucking hell.

 

 

Gullible idiots incapable of thinking outside the herd of ruminants.

Been digesting the chief morons BS about £5K grants for air-source heat pumps for houses.

A typical modest house needs a 30,000 BTU gas boiler and that is about 11KW.

You get one of these and stick it somewhere, they are quite big in comparison.

Now roughly 2.5KW of electricity turns itself into 10KW of heat in ideal conditions which is wonderful.

However no curves are shown to show that if the outside temperature drops that sweet spot of 1:4 drops until it goes negative at -15C where you are putting 2.5KW in but getting less than that out.

Unlike cars people also tend to have heating on at the same time and when the air is still, clear and very cold there is no wind. So electricity demand goes through the roof, heating ability drops and so does the electricity supply.

So every house with one will be probably drawing 5KW min and the net demand is huge.

More diesel farms or STOR facilities it is and very expensive electricity.

https://www.ebay.co.uk/itm/353632946253

[JimmyTheBruce]

27 minutes ago, 23rdian said:

I do get it but it it doesn't seem to until around the 10th of the month. 

Yeah, mine is the same.  I think the date you get it is related to the date they take your monthly fee.  Mine usually arrives just after that debit date.

[jamtomorrow]

9 hours ago, ThoughtCriminal said:

Love me a bit of vertical action 

Ah ... LBMA next? (pretty please)

 

[ThoughtCriminal]

I thought virtually everyone on here was "HL till I die"? 

 

So they've gone to rat shit now? 

[DurhamBorn]

1 hour ago, SpectrumFX said:

Anybody going green?

I think the logic must be that if you live in crushing poverty in your old age then you'll use less energy or something.

Fucking hell.

 

 

Shows how clueless she is when she says interest on her pension.I bet ive done 1000x what she has for nature.Iv built several garden ponds,my garden is all for wildlife,iv even got bats in my extension roof so i never close up the little gap they use.Its becoming more clear here that governments want to use suckers capital to fund this investment and its almost certain lose lose money against inflation.

Il be buying all the things nobody wants to invest capital into,because they are nearly always the things that make more and more money.

In sad news one of my cars is going to be going to car graveyard later.Iv decided i dont need two now and i dont want to spend the £600+ id need to on it,far better use that on my newer one when needed.All in,including buying and all repairs including tests its cost me £64 a month in the 11 years iv had it.That is the sort of thing the government want to destroy now with electric cars.