Didn't last long.....

Realy

formulaonefan wrote: »

FTSE down now -7.19%

Soon it is going to go under 4000.

I would give you a tiny bit of credit if you said that this morning.

Soon it is going to be dark.;)

andys15

!!!!!!? wrote: »

Huh? This thread just gets more bizarre.....

(I'm not into rewarding fishing expeditions for personal info)

well i think it is very relevant for someone who makes massive statements about "worst financial decision". Sometimes these "worst financial decision" are taken out of your hands when you have more than 1 person to think about. I could be here now as a bachelor with £100000 sat in the bank, living a fantastic batchelor lifestyle, knowing that I could jump in and out the market at the drop of a hat. Life is easier when you have only yours truly to think about.
Now by his response, i gather !!!!!! is a batchelor, and if he has been working in such a high contract job since 1994, supporting just himself, then he cant make statements about decisions other make which effect others.

We cant all live watching the markets, will they drop,wont they drop, should we rent now, should we take the leap. You cant preach when you have not looked at all the variables, that people with wife/kids have.

and I didn't play golf, it was chucking it down,

Realy

formulaonefan wrote: »

FTSE down now -7.19%

Soon it is going to go under 4000.

Never mind better luck tomorrow only 2% or 84 points out and 8 mins before it closed (based on 15 Min Lag)

I take it you won't be predicting house prices

Dithering_Dad

I think it's the case that the markets rose on the relief that the world governments were finally carrying out a concertive effort to solve the credit crisis. Then the realisation set in that while the determination is there, the money isn't (yet).

The ECB has now pumped $250bn into the financial markets and relaxed its criteria for collateral from banks. No doubt the markets will be back up tomorrow :rolleyes:.

I think we're in for a rollercoaster ride for quite a while yet.

It's a bit like the Premiership - I always have mates ribbing me about Man Utd being in a relegation battle after the first few games of the season. I always retort with "Let's talk about this on New Year's day". It's the same here, it's early days and the promised Billions are only just being pumped into the system - the effect will not be seen for some time, probably not until the New Year.

Dithering_Dad

andys15 wrote: »

I could be here now as a bachelor with £100000 sat in the bank, living a fantastic batchelor lifestyle, knowing that I could jump in and out the market at the drop of a hat. Life is easier when you have only yours truly to think about.

Not sure what this is all about, but I'm married and living a fantastic married lifestyle with £100000+++ equity/pension investments and savings.

Life's easier when you're not in debt and are sensible with money.

Old !!!!!! might be very verbose, self agrandising and negative, but you can't fault his financial acumen. He said he was going to invest in Gold, did do and it boomed. He just needs to make sure he gets out at the right time to lock in those gains, but I don't doubt that he'll do that.

Better than the debt nightmare you've condemned your family to. Just my opinion though, nothing personal.

howler_2

Dithering_Dad wrote: »

Life's easier when you're not in debt and are sensible with money.

My goodness, we're finally in agreement

andys15

Dithering_Dad wrote: »

Not sure what this is all about, but I'm married and living a fantastic married lifestyle with £100000+++ equity/pension investments and savings.

Life's easier when you're not in debt and are sensible with money.

Old !!!!!! might be very verbose, self agrandising and negative, but you can't fault his financial acumen. He said he was going to invest in Gold, did do and it boomed. He just needs to make sure he gets out at the right time to lock in those gains, but I don't doubt that he'll do that.

Better than the debt nightmare you've condemned your family to. Just my opinion though, nothing personal.

I think this has been done to death with you d d. It must be good living your life, and aways being right. Unfortunately us mere mortals will have to bow down and thankyou for all you advice. I am off now to try and get some potato sacks to cloth the children, and flog myself 20 times for being in the dreaded debt word, oh christ I am in negative equity as well. I may as well just slit my wrists now and end it all. Spare some change for a financial leper guvnor.

GDB2222

If it's any help, here is my understanding of what is happening:

The banks have made huge loans for house purchase. The sub-prime loan crisis is behind us, but the prime loan crisis is only just beginning. House prices are extremely high in the UK and some parts of EU, and still a bit high in the USA. There is no sign of any recovery of prices anywhere for many years. Loan defaults will just keep on for years until house prices recover. However, as long as default costs are within 1% or 2% of the loan books, that's sustainable. We are seeing that now, with mortgage rates about 2% above base rate. The extra 2% pays for the defaults, and eventually the banks will trade their way out of trouble. All the authorities have to do is declare the banks solvent, so they can keep on trading. Abolishing mark-to-market was a step in the right direction. OK, it may look like a giant ponzi scheme, but eventually everyone can get paid out.

The problem is, though, that wehereas we had previously credit that was too cheap, we now have credit that is too expensive (to pay for past mistakes). That will put the kibosh on the economy generally, which is why we are headed for a recession.

Any comments?

The stock market is reflecting that plus huge uncertainty about the future - for example, what is going to happen about the Lehman CDSs and will they all net off or will someone get left holding the baby?

mrstinchcombe

Dithering_Dad wrote: »

Not sure what this is all about, but I'm married and living a fantastic married lifestyle with £100000+++ equity/pension investments and savings.

Life's easier when you're not in debt and are sensible with money.

Better than the debt nightmare you've condemned your family to. Just my opinion though, nothing personal.

Im not sure if you were born with the proverbial silver spoon or you got where you are through hard graft, I suspect it is possibly more the former than the latter. Gloating tho isn't really helping anyone.

lynzpower

amcluesent wrote: »

Might be support at 3500 or will we breach 3000? Massive whiplash effect now from the freeze up of banking since Aug 2007.

Investment tip - undertakers. Peeps can stop spending, they can't stop themselves expiring.

Dont forget the benefits agency pays some funeral costs too

Ok, I really did mean the taxpayer.

With an ageing population and chronic fuel poverty Id love to know what the projections are for the funeral fund from DWP.