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Is the Stockmarket in a bubble?
Comments
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NPowerUser wrote: »They are talking about the £ falling 20% against the $ this year, is this good for us and should we be celebrating?
No, everything will be more expensive. If you remember the Wilson devaluation in the late 60's this was seen as a national disgrace worthy of losing elections.
Today debasing the currency is seen as a valid economic tool, albeit one that is a last resort of a failed system that should have swept out the bankrupts without affecting the clearing system, and built again from scratch with more responsible banks. Time will tell whether the Iceland route is better than the long drawn out Japan one.0 -
sabretoothtigger wrote: »That might be true but many people own a house so it could be a few more people 'gain' then otherwise
So my house may be worth £400k instead of £200k because of QE. How does that make me better off? I can't realise any wealth from it because I need to live in it. It just costs me more to insure, and more to move house - (increased Estate Agents Commission.) The only people to benefit are Estate Agents and those who own multiple properties (like MPs) - and they are not the poor are they?
I would be better off if my £400k house was only worth £50k“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
doughnutmachine wrote: »i have a US 20$ coin from 1910, it contains an ounce of gold, so it has a gold value of $1600. money printing has always happened...
Lets remember British Gold Sovereigns, now worth about £260, are only old pound coins!
That shows how much the money printers have been ripping us off.“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
sabretoothtigger wrote: »That might be true but many people own a house so it could be a few more people 'gain' then otherwise
PS: I should add that we are all paying more in benefits because of inflated house prices. Benefits have to keep up with housing costs, wages don't, so we have people getting pregnant and popping sprogs because its the only way they can get their own place - at our expense!“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
Glen_Clark wrote: »Lets remember British Gold Sovereigns, now worth about £260, are only old pound coins!
That shows how much the money printers have been ripping us off.
how does the price of gold affect your life?0 -
Glen_Clark wrote: »PS: I should add that we are all paying more in benefits because of inflated house prices. Benefits have to keep up with housing costs, wages don't, so we have people getting pregnant and popping sprogs because its the only way they can get their own place - at our expense!
some-one is gaining and some-one is losing; that is life0 -
Glen_Clark wrote: »So my house may be worth £400k instead of £200k because of QE. How does that make me better off? I can't realise any wealth from it because I need to live in it. It just costs me more to insure, and more to move house - (increased Estate Agents Commission.) The only people to benefit are Estate Agents and those who own multiple properties (like MPs) - and they are not the poor are they?
I would be better off if my £400k house was only worth £50k
if you wanted to down size then you would, of course, hold the opposite view0 -
Glen_Clark wrote: »So my house may be worth £400k instead of £200k because of QE. How does that make me better off? I can't realise any wealth from it because I need to live in it. It just costs me more to insure, and more to move house - (increased Estate Agents Commission.) The only people to benefit are Estate Agents and those who own multiple properties (like MPs) - and they are not the poor are they?
I would be better off if my £400k house was only worth £50k
A very profound observation. In fact we would be richer if property were worth virtually nothing, since real wealth has to be measured in real assets and the more you can buy per £ the richer we are!
Higher incomes push the prices of many items up by the same or even a greater amount. When this happens we get poorer not wealthier. In fact since the majority of us upgrade to more expensive houses as we get older, and due to the migration to the more expensive SE of the country, it would have been beneficial for houses to be cheaper not more expensive!
Our obsession with house prices is fuelled by estate agents, the media and the fact that we often own a stake in property. It is incredible if you think about it, we actually applaud the price of something increasing! We don't do that with fuel, even though we may own a stake in BP and Shell in our pensions! It's one of the great invisible scams.0 -
we actually applaud the price of something increasing!
I don't, never have, and like you have to shake my head in disbelief when people do it.
Cheaper housing would greatly improve the standard of living for close to 100% of the UK population. What's not to like?I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »Cheaper housing would greatly improve the standard of living for close to 100% of the UK population. What's not to like?
It is a bit like if alchemy had worked and you could convert water to gold. It would be disruptive.
The value of housing supports the banking and credit. It also supports existing socio-economic structures as well as acting as a store of value.0
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