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One percent

The next financial crisis has already begun

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I don’t think we have this one

https://news.sky.com/story/next-financial-crisis-has-begun-and-will-be-worse-than-2008-crash-economists-warn-11497433

The beginnings of another financial crisis are already in motion - and it will be worse than the global meltdown of 2008.

That's the opinion of one of the select band of economists who predicted the 2008 economic collapse, which started with the bankruptcy of Lehman Brothers bank a decade ago and ended up affecting every country in the world.

Ann Pettifor predicted that crisis in 2006, more than two years before it actually struck.

Now she thinks the global economy is in danger once more thanks to huge corporate debt, and the prospect of rising interest rates in the United States.

She told Sky News that global debt was now more than three times the level of global GDP.

 

they even managed to get a blame brexit into the article near the end 

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Just now, Green Devil said:

I thought we were still in the last, and had never left, the last financial crisis ...

I think you may be correct. Historically low interest rates  and printy, prints has kept the plates spinning a little longer. 

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Its patsy time.

Who are the patsies of the last 10 yeaes?

Chinese top.

Uk and Us really have scaled back their banks and increased capital,,refuced debt.

In the uk patsies are the people whove increased their exposure debt in housing. Btlers and the banks that lends to them. BSs like nationwide and coventry and leeds are fucked.

Uk is coming back really strong its goimg to raise irs 10y treasuries up to 5%. Rest of world inc. Uk have to follow.

Europes fucked. Pissed around did not change stuff.

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45 minutes ago, spygirl said:

Its patsy time.

Who are the patsies of the last 10 yeaes?

Chinese top.

Uk and Us really have scaled back their banks and increased capital,,refuced debt.

In the uk patsies are the people whove increased their exposure debt in housing. Btlers and the banks that lends to them. BSs like nationwide and coventry and leeds are fucked.

Uk is coming back really strong its goimg to raise irs 10y treasuries up to 5%. Rest of world inc. Uk have to follow.

Europes fucked. Pissed around did not change stuff.

chinas fked and most of the west is,germanys loaded but its on the hook for the eec

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Financial CRASHES come out of the blue, and when ya start seeing REGULAR media stories spouting financial crisis around the corner ...it AIN'T gonna happen for some time, HECK even that revolting criminal C**T Brown is at it!
 
This is the C**T that stated that new-labour have ended BOOM & BUST!    ...Strewth ...ya just couldn't make it up!
 

"Gordon Brown says world could be 'sleepwalking' into financial crisis, 10 years on from Lehman Bro"

https://www.telegraph.co.uk/business/2018/09/13/gordon-brown-says-world-could-sleepwalking-financial-crisis/

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On 14/09/2018 at 23:02, Green Devil said:

I thought we were still in the last, and had never left, the last financial crisis ...

We are.Western Govts are hiding behind headline numbers like GDP, mean average household incomes which hide a plethora of bad news stats(aside from the obvious distortions such as imputed rents being 12% of UK GDP)

Some bad news stats they've suceeded in suppressing from the wider publci sonciousness would be

GDP per capita

working age household average income

tax credit claimant count

median average wage

median average household to income non mortgage debt

all of which would likely tell us that the geniuses at the BoE have steered us into a bigger hole than the one we originally tried to drive around.

 

On 15/09/2018 at 16:33, spygirl said:

Its patsy time.

Who are the patsies of the last 10 yeaes?

Chinese top.

Uk and Us really have scaled back their banks and increased capital,,refuced debt.

In the uk patsies are the people whove increased their exposure debt in housing. Btlers and the banks that lends to them. BSs like nationwide and coventry and leeds are fucked.

Uk is coming back really strong its goimg to raise irs 10y treasuries up to 5%. Rest of world inc. Uk have to follow.

Europes fucked. Pissed around did not change stuff.

Spy,you always ofer some of the most compelling/honest/accurate commentary on the situaion.Your speling is worse thn mne

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Everything has been suppressed since the dropped GNP and the Balance of Trade Deficit figures from the news.

The seeds of cuckoo land were sown in 1968 by the Kennedys.

"Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play.  It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. "

https://www.theguardian.com/news/datablog/2012/may/24/robert-kennedy-gdp

Trouble is politicians don't like numbers that don't look good or cannot be manipulated hence you never see GNP or GDP per capita quoted.

But then again 3/4 of the population are down dumbed so much that most university grads don't even know what it means.

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7 hours ago, sancho panza said:

We are.Western Govts are hiding behind headline numbers like GDP, mean average household incomes which hide a plethora of bad news stats(aside from the obvious distortions such as imputed rents being 12% of UK GDP)

Some bad news stats they've suceeded in suppressing from the wider publci sonciousness would be

GDP per capita

working age household average income

tax credit claimant count

median average wage

median average household to income non mortgage debt

all of which would likely tell us that the geniuses at the BoE have steered us into a bigger hole than the one we originally tried to drive around.

 

Spy,you always ofer some of the most compelling/honest/accurate commentary on the situaion.Your speling is worse thn mne

I identify as a teenage girl on this forum. My pen gets caught in my petticoats....

I normally post on a tablet - proper computer is lost to roblox. Im an almost touchtypist - my tablet tapping is too fast for the tablet.

On the banks, as Bland/whatever says - the UK bank shareholders got wiped  That is a shame. It was not the really the shareholders who ware the major player in the fuckup 2000-2007. Any banking regulation that allows Fed Godwin to retire on a 2m/y pension whilst investors are wiped out is wrong. Again, this is down that to cunt Brown and his Scots cabal.

The banks pension fund should have been chucked into the capital. The banks should have been forced into insolvency so the UKGOV could have took extraordinary control of the pension assets - a swift cut to max pension of 15k would have sorted the scum out.

As Brown said - people would have gone to jail. They should but he let them off. He should have gone to jail too. He still might - Id guess the 2007 deal is not legally tight - or legal.

The issue with the BoE is they saved themselves but screwed a generation over. All for unproductive asset - real estate.

AS the further collapse of high street retail shows - they bet on the wrong horse.

What would iI have done.

Gdiot should have let Browns bust continue. The historical figures is earnings to house prices. Way too high. Obvious wlak away. But they fucking around with house builders buy out and whatnot were the *worse* policy the COns could have done. Like Brown he thought he was being smart but its blown up on him. Idiot.

Remove all tax reliefs on non OOO housing,. This is happening but way too late. Holiday lets needs sorting - and that appears to be in the process.

IO BTLers needs reaming. That is happening with S24. It needs taking further - remove all relief. Tax all rent income at current maginal rent. Theres no votes in supporting LL, never were.

The only good thing Gidiot did was flip a huge amount of London flats to asian investors. UKGOV now needs to charge non resident/tax paying foreigners 5% of a recent valuation of a property tax a year.

Ban all benefits to non UK nationals. You can kepe EU FOM with that. Itll be no problem.

Set proper wage limits for foreign workers - single under 30? Set it to 30k.

Over 50? - 50k.

Family - 40k + 10k for spouse. NHS chage of 10k and charge for any kids education.

Normal set of health checks apply - AIDs (60% of UK based AIDs sufferers are black Africans ffs), TB etc etc.

Not shaking down foreigners is stupid. They dont fucking vote.

 

 

 

 

 

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10 minutes ago, spygirl said:

I identify as a teenage girl on this forum. My pen gets caught in my petticoats....

I normally post on a tablet - proper computer is lost to roblox. Im an almost touchtypist - my tablet tapping is too fast for the tablet.

On the banks, as Bland/whatever says - the UK bank shareholders got wiped  That is a shame. It was not the really the shareholders who ware the major player in the fuckup 2000-2007. Any banking regulation that allows Fed Godwin to retire on a 2m/y pension whilst investors are wiped out is wrong. Again, this is down that to cunt Brown and his Scots cabal.

The banks pension fund should have been chucked into the capital. The banks should have been forced into insolvency so the UKGOV could have took extraordinary control of the pension assets - a swift cut to max pension of 15k would have sorted the scum out.

As Brown said - people would have gone to jail. They should but he let them off. He should have gone to jail too. He still might - Id guess the 2007 deal is not legally tight - or legal.

The issue with the BoE is they saved themselves but screwed a generation over. All for unproductive asset - real estate.

AS the further collapse of high street retail shows - they bet on the wrong horse.

What would iI have done.

Gdiot should have let Browns bust continue. The historical figures is earnings to house prices. Way too high. Obvious wlak away. But they fucking around with house builders buy out and whatnot were the *worse* policy the COns could have done. Like Brown he thought he was being smart but its blown up on him. Idiot.

Remove all tax reliefs on non OOO housing,. This is happening but way too late. Holiday lets needs sorting - and that appears to be in the process.

IO BTLers needs reaming. That is happening with S24. It needs taking further - remove all relief. Tax all rent income at current maginal rent. Theres no votes in supporting LL, never were.

The only good thing Gidiot did was flip a huge amount of London flats to asian investors. UKGOV now needs to charge non resident/tax paying foreigners 5% of a recent valuation of a property tax a year.

Ban all benefits to non UK nationals. You can kepe EU FOM with that. Itll be no problem.

Set proper wage limits for foreign workers - single under 30? Set it to 30k.

Over 50? - 50k.

Family - 40k + 10k for spouse. NHS chage of 10k and charge for any kids education.

Normal set of health checks apply - AIDs (60% of UK based AIDs sufferers are black Africans ffs), TB etc etc.

Not shaking down foreigners is stupid. They dont fucking vote.

 

 

 

 

 

👍 top post. Eminently sensible. 

Btw, who are you and what have you done with spy?  Hardly a typo in all of that 

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5 minutes ago, One percent said:

👍 top post. Eminently sensible. 

Btw, who are you and what have you done with spy?  Hardly a typo in all of that 

On proper computer...

Madams doing her homework, which she just 'found' at 645.

 

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1 hour ago, spygirl said:

 

IO BTLers needs reaming. That is happening with S24. It needs taking further - remove all relief. Tax all rent income at current maginal rent. Theres no votes in supporting LL, never were

Also banning IO for anyone. Can't fathom that they think it's not suitable for OO but say it's fine for parasite investors 

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1 hour ago, UnconventionalWisdom said:

Also banning IO for anyone. Can't fathom that they think it's not suitable for OO but say it's fine for parasite investors 

That happened for OO 2-3 years ago.

Its happened for new BTL now - no new IO.

What needs to happen - and this is Basel driving the change - is regulated banks need to get rid of their IO loan book. There's some new capital rules coming in which means a bank will have to retain~80% of the loan as capital. Its that brutal.

Most IO BTL is being shifted over to smaller i.e. can go bust banks, and non banks - fincos who raise capital rather than draw down from BoE.

Theres the big fuss at the mo - youll have seen the ads - on lifetime mortgages and RIO mortgages. This is a fudge for older IO borrowers.

Younger IOers are being harried about their capital repayment plans. This will soon evolve to calling mortgages when they are not happy.

All IO mortgages are going to see APR rise a lot - 3-4% more than repayment.

The changes for IO BTL are going to be brutal and, as its commercial lending, there's no come back or protection.

Even if you have a single IO BTL  so are not too affected by S24, you are goign to want to sell up ASAP to avoid whats coming.

 

2 hours ago, One percent said:

👍

Been in her bag all weekend ....

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19 minutes ago, spygirl said:

That happened for OO 2-3 years ago.

Its happened for new BTL now - no new IO.

What needs to happen - and this is Basel driving the change - is regulated banks need to get rid of their IO loan book. There's some new capital rules coming in which means a bank will have to retain~80% of the loan as capital. Its that brutal.

Most IO BTL is being shifted over to smaller i.e. can go bust banks, and non banks - fincos who raise capital rather than draw down from BoE.

Theres the big fuss at the mo - youll have seen the ads - on lifetime mortgages and RIO mortgages. This is a fudge for older IO borrowers.

Younger IOers are being harried about their capital repayment plans. This will soon evolve to calling mortgages when they are not happy.

All IO mortgages are going to see APR rise a lot - 3-4% more than repayment.

The changes for IO BTL are going to be brutal and, as its commercial lending, there's no come back or protection.

Even if you have a single IO BTL  so are not too affected by S24, you are goign to want to sell up ASAP to avoid whats coming.

 

Been in her bag all weekend ....

Kids eh?  

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26 minutes ago, spygirl said:

That happened for OO 2-3 years ago.

Its happened for new BTL now - no new IO.

What needs to happen - and this is Basel driving the change - is regulated banks need to get rid of their IO loan book. There's some new capital rules coming in which means a bank will have to retain~80% of the loan as capital. Its that brutal.

Most IO BTL is being shifted over to smaller i.e. can go bust banks, and non banks - fincos who raise capital rather than draw down from BoE.

Theres the big fuss at the mo - youll have seen the ads - on lifetime mortgages and RIO mortgages. This is a fudge for older IO borrowers.

Younger IOers are being harried about their capital repayment plans. This will soon evolve to calling mortgages when they are not happy.

All IO mortgages are going to see APR rise a lot - 3-4% more than repayment.

The changes for IO BTL are going to be brutal and, as its commercial lending, there's no come back or protection.

Even if you have a single IO BTL  so are not too affected by S24, you are goign to want to sell up ASAP to avoid whats coming.

 

Been in her bag all weekend ....

Very interesting spygirl.

I've been looking for some savings accounts recently and i notice most of the best rates at the moment are with the capital raising fincos, such as Paragon and Coventry BS.

Interesting times ahead.

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15 minutes ago, spunko said:

Let's have some house price predictions for posterity. I'm going to go with -60% drops across the UK on average between now and 2021.

I have crunched my numbers and on the assumption that base rates go up 2.5% then by 2021 the price drops will be 22% UK average.

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Would love to see 60%, but the £ has lost so much value and will continue to do so, that I think we will see something closer to 30% drops on average across the country.

21 minutes ago, Bobthebuilder said:

Very interesting spygirl.

I've been looking for some savings accounts recently and i notice most of the best rates at the moment are with the capital raising fincos, such as Paragon and Coventry BS.

Interesting times ahead.

I read last month the Goldman are coming to town. Potentially launching a market beating rate. Not sure I would want to put my money with them though. Having read what they've done in the US on the personal market, will be interesting to see their loan rates here.

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