Lots of angry people today.
Discussion
gooner1 said:
Remind me not to shop there!Mr Whippy said:
gooner1 said:
Whoozit said:
Sorry, I can't let that one slide. I spent chunks of the past 3 years raising capital for the Greek banks. The problems of Greece were caused by the Greeks economical with the truth on their national statistics in order to squeak over the bar for EU membership. Taxation didn't keep up with spending promises, especially in the state/pensions sectors let alone economic development, due to Greeks treating underreporting their income as a national sport. The moment a crisis hits and incomes naturally reduce, non-performing loans across the banks ramped up massively simultaneous with the govt having its cheque book taken away by Europe and no meaningful political will to increase taxes and reduce public spending.
Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
I knew that, you know that, so why the hell did the E.U auditors, who presumably ran a cursory eye over Greek accounts, not know that. Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
So now I have to ask, if Greece were really naughty, why are Italy and Spain in the same boat?
Don't tell me they were cooking their books too, but no one noticed? Especially not Italy which Draghi should know well?
However you cut it a line has to be drawn somewhere, where the few lose out for the benefit of the many. Where will that line be?
It's Italy's turn next so lets sit back and watch the fireworks... I think the EZ can is starting to get too heavy to keep on being kicked!
Dave
blueg33 said:
Soov535 said:
I suspect that's because people realise that we haven't left yet, or even started to leave (probably drop after article 50 is invoked). Weak pound also allows American investors to buy shares in UK companies at a cheap pricegooner1 said:
looks like another one that went to the gerald ratner school of public relations . what a w
ker.gooner1 said:
Can't imagine this fellow pops into the Red Lion to discuss 'bar politics' 
Soov535 said:
Do you post that on every thread?There is more than one FTSE, so you're being inaccurate. If you mean the FTSE 100, it's a terrible indicator of the UK economy for the reasons given on the other threads where you posted the same thing, namely the preponderance of companies in the FTSE100 that have not much to do with the UK (it contains German and US companies) and/or those with significant revenues generated outside of the UK, or whose revenues are mostly in USD and therefore buoyed by the drop in GBP, and those whose profits are much more determined by global commodity prices than anything going on in the UK.
You should be looking at the FTSE 250 or better still, credit markets. Even then, looking at market moves in a very volatile period and trying to glean any kind of message from it is, well, about half about as accurate as reading the tea leaves. Uncertainty causes volatility, and guess what, volatility means stuff goes up and down. And we're still in the EU, remember...
Many forecasters predicted that the net Brexit effect on the FTSE 100 (not a one day period, which would be daft) was 0%, and so far it's pretty spot on although the period has some time to run yet.
gooner1 said:
How much of an indicator are Government Bonds?
'Flight to Quality' - they're a good indicator of fear. When there's uncertainty, panic or disaster, investors flock into government bonds, including of the country most affected. This pushes up prices which pushes down yields. The UK 30 year gov't yield hit a record low of 1.771% yesterday.
don4l said:
Meanwhile, the BBC carries on doom mongering.
Apparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
Apparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
What?
Sump said:
don4l said:
Meanwhile, the BBC carries on doom mongering.
Apparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
Apparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
What?
don4l said:
Meanwhile, the BBC carries on doom mongering.
Apparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
Away and educate yourself, you insular idiotApparently, a bank that nobody ever heard of is not going to lend money to foreigners to buy London property.
http://www.bbc.co.uk/news/business-36670075
Boo, bloody hoo.
http://www.straitstimes.com/business/banking/ocbc-...
crankedup said:
Mr Whippy said:
gooner1 said:
Whoozit said:
Sorry, I can't let that one slide. I spent chunks of the past 3 years raising capital for the Greek banks. The problems of Greece were caused by the Greeks economical with the truth on their national statistics in order to squeak over the bar for EU membership. Taxation didn't keep up with spending promises, especially in the state/pensions sectors let alone economic development, due to Greeks treating underreporting their income as a national sport. The moment a crisis hits and incomes naturally reduce, non-performing loans across the banks ramped up massively simultaneous with the govt having its cheque book taken away by Europe and no meaningful political will to increase taxes and reduce public spending.
Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
I knew that, you know that, so why the hell did the E.U auditors, who presumably ran a cursory eye over Greek accounts, not know that. Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
So now I have to ask, if Greece were really naughty, why are Italy and Spain in the same boat?
Don't tell me they were cooking their books too, but no one noticed? Especially not Italy which Draghi should know well?
However you cut it a line has to be drawn somewhere, where the few lose out for the benefit of the many. Where will that line be?
It's Italy's turn next so lets sit back and watch the fireworks... I think the EZ can is starting to get too heavy to keep on being kicked!
Dave
blueg33 said:
wc98 said:
blueg33 said:
I like building homes...........
could you get your finger out and start building them a bit quicker then 
Going back to the thread title, yes I am angry, I f
king livid, that investor represents 8 months work. Mr Whippy said:
crankedup said:
Mr Whippy said:
gooner1 said:
Whoozit said:
Sorry, I can't let that one slide. I spent chunks of the past 3 years raising capital for the Greek banks. The problems of Greece were caused by the Greeks economical with the truth on their national statistics in order to squeak over the bar for EU membership. Taxation didn't keep up with spending promises, especially in the state/pensions sectors let alone economic development, due to Greeks treating underreporting their income as a national sport. The moment a crisis hits and incomes naturally reduce, non-performing loans across the banks ramped up massively simultaneous with the govt having its cheque book taken away by Europe and no meaningful political will to increase taxes and reduce public spending.
Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
I knew that, you know that, so why the hell did the E.U auditors, who presumably ran a cursory eye over Greek accounts, not know that. Yes, it's a horrible scenario and yes, ordinary people are suffering. That's what happens in mismanaged economies.
In none of this were the bankers primarily to blame. Possibly too eager to extend loans for expensive property in a low interest rate environment. That was never a Greek-specific failing. And the moment banks try to be more credit conscious, the politicians scream and shout.
So now I have to ask, if Greece were really naughty, why are Italy and Spain in the same boat?
Don't tell me they were cooking their books too, but no one noticed? Especially not Italy which Draghi should know well?
However you cut it a line has to be drawn somewhere, where the few lose out for the benefit of the many. Where will that line be?
It's Italy's turn next so lets sit back and watch the fireworks... I think the EZ can is starting to get too heavy to keep on being kicked!
Dave
https://fullfact.org/europe/did-auditors-sign-eu-b...
Soov535 said:
So what? the real markets under the cosh are the currencies!!! FTSE 100 is irrelevant as a barometer what's going on or about to go on in the UK!! oh me oh my.bmw535i said:
kurt535 said:
So what? the real markets under the cosh are the currencies!!! FTSE 100 is irrelevant as a barometer what's going on or about to go on in the UK!! oh me oh my.
It was good enough for the remainers to use as a barometer of the economy when it "crashed" though, wasn't it?i concluded FTSE250 was more exposed than the 100 and took my pension money out of it a few months ago. currently in jap bonds and it will stay there.
kurt535 said:
no idea. i did my own financial research leading up to the vote. i concluded remain win meant id lose out on a 500 point rally, can handle that; double b*m f**k if leave vote won via devaluing currency and ftse 250 crapping out.
i concluded FTSE250 was more exposed than the 100 and took my pension money out of it a few months ago. currently in jap bonds and it will stay there.
I think you know full well that I am talking about post referendum scaremongering headlines. You know, ones going on about the FTSE 100 falling etc and saying the economy had crashed as a result.i concluded FTSE250 was more exposed than the 100 and took my pension money out of it a few months ago. currently in jap bonds and it will stay there.
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