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Blanchflower joins 70% club
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Nice riposte, it made me smile (but not laugh).
That said, it must be recognised that the 70% club is about perceptions, not numbers. The market correction could be 60% or it could be 80%. Only someone with a time machine can predict the turning point in a bear market. David Blanchflower has been granted membership of the 70% club for 'good articulation of Macaques opinions'. He may well have picked up some of these up from reading my posts (I have no problem with that).
Or it could have been 16% to 22%
depending on index. 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Why don't we just call it the "I don't have a fricking idea like the rest of you" club?0
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just because Macaque is a closet romantic and believes in 185% house price drops please stop bullying and making fun of him!!
isn't that what you call it now when bearish/negative posters are clutching at straws?
he is a very intelligent species!
below is a pig tailed macaque if anyone is interested:A
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You edited your post chucky, but still left all that?
When can we stop these personal remarks?? Seriously.0 -
231.25 cents per kg of tea in September 2007What % would it be measured in tea leaves
344.77 cents per kg of tea in October 2009
£ worth $2.0085 at time of NR collapse (September 14 2007) so £1.1513 per kg of tea
£ worth $1.6445 at end of October 2009 so £2.0965 per kg of tea now
Av. house price £184,723 in Sept 07, ergo you needed 160,447.32kg of tea to buy the average house (184,723 / 1.1513)
Av. house price £161,816 in Oct 09, ergo you needed 77183.88kg of tea to buy the average house (161,816 / 2.0965)
So, UK house prices have collapsed by 51.9% in the currency of tea leaves over the past two years (160,447.32 - 77183.88 = 83263.44 / 160,447.32)
To drop 70% a house would have to be worth 48,134kg of tea (160,447.32 - 112313.124 (160,447.32 * 0.7))
:cool:
data used:
http://www.indexmundi.com/commodities/?commodity=tea&months=60
http://www.google.co.uk/finance?q=GBPUSD
http://www.housepricecrash.co.uk/indices-nationwide-national.php"The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
231.25 cents per kg of tea in September 2007
344.77 cents per kg of tea in October 2009
£ worth $2.0085 at time of NR collapse (September 14 2007) so £1.1513 per kg of tea
£ worth $1.6445 at end of October 2009 so £2.0965 per kg of tea now
Av. house price £184,723 in Sept 07, ergo you needed 160,447.32kg of tea to buy the average house (184,723 / 1.1513)
Av. house price £161,816 in Oct 09, ergo you needed 77183.88kg of tea to buy the average house (161,816 / 2.0965)
So, UK house prices have collapsed by 51.9% in the currency of tea leaves over the past two years (160,447.32 - 77183.88 = 83263.44 / 160,447.32)
To drop 70% a house would have to be worth 48,134kg of tea (160,447.32 - 112313.124 (160,447.32 * 0.7))
:cool:
data used:
http://www.indexmundi.com/commodities/?commodity=tea&months=60
http://www.google.co.uk/finance?q=GBPUSD
http://www.housepricecrash.co.uk/indices-nationwide-national.php
:T Great post.
Now all we need is someone to point out such a large demand for tea would affect it's price.0 -
Graham_Devon wrote: »You edited your post chucky, but still left all that?
When can we stop these personal remarks?? Seriously.
i edited because i had made a mistake in the spelling of a word!?
but seeing that i made the edit at 1:57pm and you wrote your post at 2:22pm it's obvious you're looking for someone to argue with by trying to make it the Graham_Devon show... pfffffff
edit - macaque Thanked it which i expected him to.
he has a sense of humour unlike you. he's a cool guy.0 -
Graham_Devon wrote: »Why don't we just call it the "I don't have a fricking idea like the rest of you" club?
That's called the Liberal Democrats.0 -
You may have to wait a bit. It seems a lot of people are trying to access this webpage (panicking bulls by any chance?).
http://www.citywire.co.uk/personal/-/video/money-property-and-tax/content.aspx?ID=366921&re=7472&ea=174368
Watched that video, didn't seem very impressive to me, he mentions all the variables except the fact that current medium term interest rates are a lot lower than the average rates in the past i.e. he is trying to work out how people can afford houses at the moment but ignores the obvious.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
Today, 2:22 PM #
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