Dr Hu

Just wondered?

zip106

Give it time....

I can hear the Four Horsemen approaching...

Trout

iTrader: (1)

They are currently being re-capitalised to the tune of 200bn euros by various central government mechanisms*












* for central government mechanism read taxpayer!!

TelBoy

Forget Lewis and his worthless "contributions", what about all these demonstrators? What the hell is the point of that? So all these "occupiers" don't have either jobs or bank accounts into which their dole is paid??

Pathetic.

pslewis

You come telling me I'm wrong after just 2 weeks?

Do me a favour ..... it is unfolding as we type ..... give it a little time.

There is a sea change in Capitalism .... the tipping point is going to be reached very soon in Greece, then Spain and Portugal and Ireland ..... it will be like an avalanche once it starts!!

Trout

iTrader: (1)

Some of the investors I know are predicted a massive stock market correction soon - who can tell!

GlesgaKiss

Pesky capitalism, much better off without it. We might have to get back to basics, working the land by hand and suchlike, but the govt will still provide iPhones, laptops, etc, and fund even better education with more provisions than you could possibly imagine. Work is just there to give us a purpose, to bring society together. Everyone will have everything they want, and all that's necessary is to stop corporate greed from keeping it for itself. If you have anything against that, then you must be one of the criminal capitalists responsible for the oppression of your fellow man.

pslewis

All joking aside - the riots of August will seem a very small incident if the general public are squeezed whilst the rich reward themselves still further.

I wouldn't like to be a Banker if it does flair up ...... their Porsche and Mansion may be sat alongside Guy Fawkes ...

I've been around a long, long, time and I haven't quite felt the feeling of resentment which is bubbling under the surface as now. You can squeeze the very poor and even those on benefits - you will get away with that. But, when the average man in the street starts suffering and see's the wealthy laughing it is a cocktail for trouble.

"We are all in it together" Camerons words will come to haunt him, as, quite clearly, the millionaires sat around the Cabinet table today haven't a clue about hardship. They weren't even hard-up in the past!! It's all Mummy and Daddys money ........

dpb

Bring back the gang of four

How many protest against capitalism/ banks do you see on the streets of china/india /other emerging countries

JTaylor

This post is meaningless, difficult to read and lacking in, well, everything.

Cannon Fodder

iTrader: (100)

dpb

Heard some women interviewed on the radio yesterday , one of these protesters in London i believe , she came up with a load of hyperbole - but at the end of the conversation she basically admitted she didnt really know what she was protesting about

Itll be a lot colder next week - i spect them to trot off home to their central heating

JTaylor

See #10.

dpb

Shouldnt you be ripping off unsuspecting hire purchasers

TelBoy

I have so much against that, we don't have enough hours in the day to even begin


Socialism, for the man who has nothing who goes to the man with something and says let's go halves.

TelBoy

I agree. If you asked them all for their reasons, i think you'd get as many different answers. At the crux of it though is that bankers should still be hanged from Tower Bridge and the word bonus consigned to the dustbin. Because all bankers are guilty and who needs what they provide anyway. And we're definitely not jealous. No.

JTaylor

#10

mamoon2

How can banks not be making a mint at the moment.... i've just got a 75% buy to let mortgage and the best rate was 4.99% - the bank will make 4.5% from me. They have never had it so good (apart from the obvious default stuff from the likes of Greece)

TelBoy

^^^ And that's exactly what i mean. Public perception bearing just about no relation to reality. The bank will make 4.5% from you, will it? Just because the base rate is 0.5%, right? Unbelievable.

mamoon2

Please correct me if i'm wrong Tel but I thought the bank could borrow at 0.5%? Is this not the case

mamoon2

and if you are talking about the libor rate, that is still less than 1%, so the bank would still make nearly 4% gross?

Or have i got it wrong?

TelBoy

It's not the case, no. 3 month money changing hands at 1.25%+ *if* you can find it.

For the man on the street to get a long term loan at something like 5% still is almost unbelievably good.

mamoon2

I see. Still, 5% seems a lot to pay when my residential mortgage is 2.99% at 75% LTV, although there is understandably more risk for the bank on a BTL.

Leslie

You had better prepare yourself for a nasty shock. You can only print so much more money than the nation is earning and for so long before it all comes to a head and inflation takes off!

We are borrowing to pay off the interest on what we are and have been borrowing!

A nation's wealth is based on the amount of money which is being earned and the work which is being done by the populace. Trade is down because other countries are also in a financial hole and our manufacturing industry has been decimated. This country is just not earning enough.

The austerity which is coming takes a while to reach us, but when it does, it will take a long time to get over it.

Les

TelBoy

Sorry missed this. Which Libor rate are you quoting at under 1%?

Put it this way, inter-bank lending is virtually non-existent now. Not bankers in wine bars with great big Stogies on four hour lunches. There's no money. Even between banks who have ratings. The public perception that the banks are making gazillions is just wrong. I'm not saying they haven't had times in the past where margins were good. Like any industry, make hay while the sun shines. But times really have changed i'm afraid (to the delight of the bank-hating peanut gallery obviously). And i'm not looking for sympathy, just a better understanding of the situation as it really is, not how the Daily Mail reports it.

markb_s1

very well said... although i work for a money broker not a bank.

pslewis

Very good post, Les ..... have a sit down now

GlesgaKiss

That's what worries me. It takes about ten times as long to explain why that's a load of bollocks as it does to just say it, which is why it spreads so easily.

finalzero

It's happening around the world now mate.

It's not so much about Tea Party's and revolutions as much as people are simply pisedoff at the establishment, especially when these same two faced snakes have the cheek to steal the money from you in broad daylight.

The system is designed to serve those within in it, not anyone on the outside like us folks.

Leslie

Any significant sign of the politicians actually doing anything for the people any more seems to have gone by the board a long time ago.

They are good at making the right kind of noises and then any semi promise will get forgotten after time goes by. The worst thing is to make a promise to get elected and then binning it afterwards.

To my mind, most of them are the bitter end and they all want stuffing...painfully!

Les