Growing Evidence That The Upturn Is Upon Us
Gosh, careful there, you're in danger of making me slightly less bearish and its a strange sensation I'm not sure I like. 
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Join Date: Nov 2004
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WWW I am coming off a very low base 
... I actually withdrew several thousand pounds of hard currency from a bank 2 weeks ago as "emergency funds" in case the whole system ground to a halt.... I never thought I would ever be doing that but it was looking so so bad at that stage.
There is plenty of misery to come but the chance of "life as we know it" changing is subsiding from where I sit. I can stomach a harsh mind numbingly bad recession... in fact I would bet that is what we will get... but as you know it was looking much much worse than that at one stage.
... I actually withdrew several thousand pounds of hard currency from a bank 2 weeks ago as "emergency funds" in case the whole system ground to a halt.... I never thought I would ever be doing that but it was looking so so bad at that stage.There is plenty of misery to come but the chance of "life as we know it" changing is subsiding from where I sit. I can stomach a harsh mind numbingly bad recession... in fact I would bet that is what we will get... but as you know it was looking much much worse than that at one stage.
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The US appears to be considering stepping into line with the UK and following our example 
Video: US could copy British-style bank bailout - Times Online
This is in danger of almost becoming a coordinated rescue.
btw, I put as much as I can away in NS and I certificates in case the sky does fall in...I just wish I could put away more...all I need to do now is buy 3 years worth of beans
(i'm supprised no one mentioned the rumour that the Bank of America ordered 'We are closed for trading today' signs
....although I think that one will probably appear as 'false' on Snopes
Video: US could copy British-style bank bailout - Times Online
This is in danger of almost becoming a coordinated rescue.
btw, I put as much as I can away in NS and I certificates in case the sky does fall in...I just wish I could put away more...all I need to do now is buy 3 years worth of beans
(i'm supprised no one mentioned the rumour that the Bank of America ordered 'We are closed for trading today' signs
....although I think that one will probably appear as 'false' on Snopes
Join Date: Nov 2005
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The result of the above will mean millions of people will not be able to get rid of their homeloans. However, when they default on the loan and possibly give up and hand the keys back to the bank/lender, the result will be that these lenders end up with thousands or millions of properties that they cannot sell (or at least sell at realistic prices). What happens then?
What happens next is that the Government in 12 months time will have to step in a rescue the housing market!! Buy backs, freeze repossesions or reduce interest rates (0% ???) who knows.. The fall out from the last few weeks in the financial markets wont really be fully felt in the housing market until this time next year, so fingers crossed the governement can at least get some sort of a plan together... What the Government can't allow to happen is to let repossesions carry on picking up pace at the rate they are at the moment. If it does the housing market in 6 months will be in free fall, as who wants to buy a house at market value when you can buy a repossesion at 30% lower?! If it carrys on going this way, it will be a buyers market which can only push prices down further..
On a brighter note, at least the likes of property ladder, how to sell house and homes under the hammer might finally be off our screens for the time being!!
What happens next is that the Government in 12 months time will have to step in a rescue the housing market!! Buy backs, freeze repossesions or reduce interest rates (0% ???) who knows.. The fall out from the last few weeks in the financial markets wont really be fully felt in the housing market until this time next year, so fingers crossed the governement can at least get some sort of a plan together... What the Government can't allow to happen is to let repossesions carry on picking up pace at the rate they are at the moment. If it does the housing market in 6 months will be in free fall, as who wants to buy a house at market value when you can buy a repossesion at 30% lower?! If it carrys on going this way, it will be a buyers market which can only push prices down further..
On a brighter note, at least the likes of property ladder, how to sell house and homes under the hammer might finally be off our screens for the time being!!
Join Date: Dec 2005
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Looks like OPEC are getting a little twitchy about their £100 dollar per barrel 'ideal' :-
AFP: Oil prices drop despite news of emergency OPEC meet
$50 per barrel by year end anyone??
AFP: Oil prices drop despite news of emergency OPEC meet
$50 per barrel by year end anyone??
FTSE futures off 4% and starting to kiss 4000. The rescue ain't doing what it was supposed to do..
The Dow closed down a massive 678.9 points or 7.33 per cent at 8,579.19. A year ago today, the Dow closed at a record high above 14,000.
Cancel the caterers.
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The Dow closed down a massive 678.9 points or 7.33 per cent at 8,579.19. A year ago today, the Dow closed at a record high above 14,000.
Cancel the caterers.
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Join Date: May 2008
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Mike who knows where the oil price will end up 
All i know is that it is a function of supply and demand and right now because of the slowing economy the world does not need much oil hence this is reflected in the price. When all this mess is sorted out and we start recovering the oil price will increase.
Meanwhile in a galaxy far far away.....
Airline industry faces 'year of hell' - Times Online
All i know is that it is a function of supply and demand and right now because of the slowing economy the world does not need much oil hence this is reflected in the price. When all this mess is sorted out and we start recovering the oil price will increase.Meanwhile in a galaxy far far away.....
Airline industry faces 'year of hell'
The airline industry is facing a “year of hell” that could be worse than the downturn after the attacks of 9/11, the industry warned.
Mike Ambrose, the director general of the European Regional Airlines (ERA), which represents 79 airlines, said he expected the number of carriers around the world declaring bankruptcy to double to at least 70 this year.
“We are now up to around 35 this year,” Mr Ambrose said. “I see at least that number over the winter.”
Numerous carriers have already been grounded because of a combination of high fuel costs and falling passenger demand. XL, the travel company, was declared bankrupt last month stranding 80,000 passengers and other carriers such as Zoom, Silverjet and Oasis have also been forced to close.
The airline industry is facing a “year of hell” that could be worse than the downturn after the attacks of 9/11, the industry warned.
Mike Ambrose, the director general of the European Regional Airlines (ERA), which represents 79 airlines, said he expected the number of carriers around the world declaring bankruptcy to double to at least 70 this year.
“We are now up to around 35 this year,” Mr Ambrose said. “I see at least that number over the winter.”
Numerous carriers have already been grounded because of a combination of high fuel costs and falling passenger demand. XL, the travel company, was declared bankrupt last month stranding 80,000 passengers and other carriers such as Zoom, Silverjet and Oasis have also been forced to close.
I'm suprised you can be so phlegmatic given your situation on a training course with a large FTO. Good on you for not Ostriching.
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You are welcome.
You'll make it eventually. You seem equipped.
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You'll make it eventually. You seem equipped.
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heli,
Not quite a function of supply and demand....more a function of supply according to how much $ can be screwed out of every last inch of the barrel. The Venezuelan's and the Iranian's have enjoyed the taste of $15O DPB and will do anything to persuade the rest of the Cartel to cling on to high prices. I dont think it will be long before OPEC cuts production again.
Not quite a function of supply and demand....more a function of supply according to how much $ can be screwed out of every last inch of the barrel. The Venezuelan's and the Iranian's have enjoyed the taste of $15O DPB and will do anything to persuade the rest of the Cartel to cling on to high prices. I dont think it will be long before OPEC cuts production again.
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Originally Posted by WWW
FTSE futures off 4% and starting to kiss 4000. The rescue ain't doing what it was supposed to do..
If the banks were rescued the stock market would reflect the fact.
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As Chris says, the rescue is more to keep the banking sector functioning, rather than bolster share prices. The picture I now get is that all sectors are suffering and the drop in commodities indicate a sharp fall in demand. pile on the 20 grand the government has committed for every uk taxpayer just to oil the banking sector. Some say we will get this money back, doubtful in my lifetime and that of many others. In the interim up goes my tax.
Tomorrow I shall cheer my self up and send a fax to tesco detailing the new egg prices. If they dont pay, Morrisons will.
Tomorrow I shall cheer my self up and send a fax to tesco detailing the new egg prices. If they dont pay, Morrisons will.
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The markets are being driven by fear at them moment so they aren't rational.
I believe that Barclays and another bank prefer not to take the capital injection at the moment and instead prefer to take their chances with the money market, the consensus seems to be that sooner or later they will have to go back to the Government with their cap in hand. (there is talk of a sub £2.00 Barclay share price tomorrow)
Barclays is one of todays largest fallers where as HBOS is one of the largest risers. Until the banks sort themselves out and we find out the full details of the governments plan (ie cancellation of divi's etc) I don't think we'll see the full effect of the rescue plan.
I expect having the US follow our example will help things too.
Anthony Bolton has predicted that financials and consumer cyclicals will lead the (long slooooow) recovery, I believe commodities are due for more of a battering before they recover.
There was almost as much blue as there was red in my virtual potfolio today.
I believe that Barclays and another bank prefer not to take the capital injection at the moment and instead prefer to take their chances with the money market, the consensus seems to be that sooner or later they will have to go back to the Government with their cap in hand. (there is talk of a sub £2.00 Barclay share price tomorrow)
Barclays is one of todays largest fallers where as HBOS is one of the largest risers. Until the banks sort themselves out and we find out the full details of the governments plan (ie cancellation of divi's etc) I don't think we'll see the full effect of the rescue plan.
I expect having the US follow our example will help things too.
Anthony Bolton has predicted that financials and consumer cyclicals will lead the (long slooooow) recovery, I believe commodities are due for more of a battering before they recover.
There was almost as much blue as there was red in my virtual potfolio today.
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The Venezuelan's and the Iranian's have enjoyed the taste of $15O DPB and will do anything to persuade the rest of the Cartel to cling on to high prices.
Anyone think we are heading towards a period of deflation?
A command economy, state owned banks, assets decreasing in value, bankrupties and money value falling.
A command economy, state owned banks, assets decreasing in value, bankrupties and money value falling.
Some great buying opportunities at the moment
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Originally Posted by littco
Anyone think we are heading towards a period of deflation?
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Topslide6
"I guess when I refer to the price of oil, it in the hope that there's more chance of some of us pilots still being in a job come 2009."
Perfectly understandable, but alas....I'll not repeat all that's been said before.
Keep your pecker up.
"I guess when I refer to the price of oil, it in the hope that there's more chance of some of us pilots still being in a job come 2009."
Perfectly understandable, but alas....I'll not repeat all that's been said before.
Keep your pecker up.