The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Definitely a scary day and rather confusing too! ... But all's well in Lalaland :-)
US pre market looks good at open and the banking stocks may have stabilised from the massive falls this morning
Jings ..RusSELL is all yours his a clever bugger I tell you that in advance RusSELL is 100% correct every time.. Problem is you have to take him out for a wine and dine, smokes only the best cigars loves to party all night. When your skint by the end of the night you can ask him any question to do with the future in the banking sector and you can bet you last $£ he will give you right answer it's going to be RUFF RUFF !!!lol I tried a bit of reverse psychology on him and tested him on politics so asked him about the future of Keith Vaz and you know what it's RUFF RUFF .....I think RusSELL is very good or his on poppers is well .....
Mailman mentions 1972 ...Johnny Nash sang " There are more questions than answers " seems nothing's changed . Checkricky ....any chance I could borrow Russell , your mystic mutt ?
I do think it is a combination of spending more on things and things costing more in relation the average income with many not earning the average income..... The guide is regarding house prices over the past 3 decades ... house prices have gone from around 3 times average earnings of 1 persons wage, to 7 times the income of 2 people . But wages have not followed inline ... So a bigger proportion of income is spent on Housing and renting.... Yes many spend a lot on Mobile Phone use and contract, and sky TV subs... But not on the radar of expense 3 decades ago ..but a way of life to so many today. So basically things to me have improved with new technology and a desire for things has been created but the means to pay for many extra things we have today are not met by the ability to pay on many current incomes ..after paying for the increasing basic living and utilities costs... That then means the growth in Bank overdrafts and Credit card debt in the UK. and payday loans or whatever.. The cost of street cred by children to their parents is amazing as many parents well know.... The encouragement to spend far more today is far greater than 30 years ago and access to Debt is ridiculously so easy today... in fact wildly encouraged... Saving up to buy years ago is not some much an option today as credit is a bigger way of life to each new generation it seems.... The days of paying for Gas and Electricity based on what you used has gone, you have to be told to constantly change suppliers for a better deal , which creation frustration and confusion and cost the public more in the end... or why would suppliers bother ...Rail Fares another mine field of prices also creates confusion and creates more profits .. or just a few standard prices would be offered like 30 years ago .. Looking back 30 years is a real eye opener as to how the cost of things has changed in relation to the average income along the way... Remember pre 1972 there were no credit cards and today they are part of so many people lives ...and God knows what the true amount of personal Debt there really is in and what has risen to since 1972 in the UK.... Money is always a challenging point of any persons budget and that is the issue many find hard to deal with... regarding living within your means... sadly many do not have the means to met the basic needs ..that's where increasing government benefit payments comes in ..But that is a well known growing issue and anther story.. Meanwhile life goes on in so many different ways ... no matter if you earn 5K part time or £10 million a year plus.. This is the UK we now live in... Maybe a return to fundamental basics from Theresa May would be a good idea and way forward for some Stability. I wonder if RBS will go sub 170 soon... ATB
Your points have been noted for some times now, if you read any sociological texts. The real rut in terms of productive capacity of people, their willingness to work hard, to learn a trade or skill that adds to the real economy, this was all degraded under Thatcherism (recall her mantra that there is no such thing as society). When debt replaced prudence, and was encouraged by governments, and capitalism became financialization, then everybody simply toed the line, no one effectively resisted the industrial gutting of the economy. We are living with the aftermath of unintended consequences. When money can be printed out of thin air, interest rates crushed, and negative yield increasingly become the norm, what exactly can be said to carry value? Gold? Land? Certainly not financial assets which are become horribly distorted, mispriced and, indeed, changed out of all recognition with the lumbering addition of all the derivatives that use stocks and other assets to price and collateralize more financial assets. If we remained in the EU, there would be a reckoning. Outside, there will be a reckoning. Either way, something will have to give. We have to return to a market based on something more tangible than city crooks, mediocre TV, pop stars, and crass movies. Let's hope the reckoning does not lead to any kind of war, but only a crises where the zombies are shredded and a new viable market emerges. Good trading!
It seems to me that we all spend much more on 'things' than we ever could in times past. eg: how many are paying a monthly mortgage/rental on a smartphone? Young people especially. Then there is the cost of entertainment, we seem happy to find £60-£100 a head to watch a performer/band/show, etc.. Even going to the cinema can reach £20. All these inevitably mean that there isn't enough left to create a deposit for a house. Every individual has to make their own decisions on how they spend their money. How many actually think about it?
Football. Yes, we are all responsible. I, for one, pay Sky £128 a month. I used to watch a lot of footie but over the past year or two that has reduced by, probably, 60%, largely due to there being so few 'local' lads in any of the Premiership teams, so I am having to question the £128. I still watch a lot of golf but, again, I have to question if it is worth £128. Probably not. Maybe the wider tv audience is moving in the same way? As you say, that will change things, change always comes from the customers (voters).
EU banks under pressure it seems.. Talking of Italy banks on CNBC .. Low interest rates are not helping banks or savers.. Every week it is another issue .. Hard to think that RBS was 412p 18 months ago.. And even more harder to remember about 8 years ago the SP was around £6 in old money, being £60 in today's terms after consolidation ... The last 10 years has certainly changed the UK and world banking system. It is strange how the 2008 banking crisis hit so many people back then and has now resulted is such cheap money that is pushing house prices back up beyond the pre crisis level and causing even more damage to first time buyers today what a crazy situation of so much to happen in the past decade ... Lack of affordability is a growing trend for each new generation for housing and renting is not far behind... How banks progress in coming years with low rates and more bad news and fines remains to be seen... And Brexit... One thing is for sure things will be changing all the time.. Any coming rate rise trend will spark a new direction for banks and savers and pushing house buyers under more pressure ... The next 10 years will be very interesting with Brexit, US election, interest rates, Oil prices and any possible EU troubles or break up.. The Labour Party.. And of course terrorism.. A time machine would be interesting to spend a week in 2025 or maybe not... ATB
For tomorrow Deutsche Bank down over -7% in the US ...... Even my dog has been calling the RBS and the banking sector right over the last few years that's how much of a joke it's been just listen to him when I ask him a simple question.... Hay Russell what's trading the financials going to be like tomorrow AAHHH RUFF RUFF ..... That says it all named him after astrologer Russell Grant the clue is in his name should of pressed sell button long time ago lol.......
I think in recent years Politics is on less and less peoples radar of interest ...40% plus not voting is another example ....Each party constantly contradicting each other rather than doing things that needed or right.... 25 years of the NHS problems that never get solved ... like a jig saw that is constantly altered but never gets finished...same as TV news is 80% poor or bad news... so little today to be inspired by as so many issues and problems just become daily national news... that often repeats its self like groundhog day... After the past 10 years of the not getting a GP appointments farce .. creating an easy appointment system is even further away than ever... as a prime example of politics becoming a folly ..Just what are the 650 MPs actually doing apart from it seems creating more problems... It would be nice for MPs to at least have a logical plan that we all go foreword on to the future.. You can never please everyone but a least please the Majority.... Happy Days...
Been all about the money and television for years . You want a global audience , something people will pay to see , you bring in the big stars , mostly foreign , to the detriment of young English talent . England currently has more foreign players in the prem ., than any other major European league . Has to have some effect on the nnational side . No doubt there are other factors involved , lack of facilities for kids , methods of coaching , different oppertunities.and interests than iin the past etc. Can't see it changing any time soon , unless tv audiences die off , lol.
Wasn't suggesting he was the answer , just that your post read like something he could have said . Have to admit can't see him as a future prime minister , ....although stranger things have, and still will , happen.
Where money is concerned , Greed will follow.... Regarding the England team, they do not seem to need a manager because the last 15 managers have made no difference or achieved little or anything regarding trophies..... As far as I know this is the fact of 50 years of documented history of the England Team.... 50 years of excuses win absolutely nothing...The ability of the players is the issue if the results are constantly poor. The same applies to those teams in the lower leagues of the whole UK football league, and 95% do not have the ability to get into the Prem and never will. After the past 15 managers and god knows how many players over 50 years, reaching a final in a tournament seems impossible... The bottom line appears to be that the England teams has ridiculously high paid players that make a GOOD team... But not a GREAT team ... There is the difference....The System, the Desire, The ability, Too overpaid to bother, Frightened of injury to affect their Prem team chances... Or the England team is not that important compared to playing in the Prem teams.. ...All these possibilities have been mentioned time after time.....and the same issues and problems continue to exist over too many Decades not Years...With the actual Billions involved in UK football failure to produce a worthy and strong proud Nation England team .... appears a folly and unanswerable Question..... The other folly appears that the next Manger like many others is paid a crazy amount, currently 3 million £ a year with no need or guarantee of achievement required ...if no good you get the sack after your 4 year term and pocket 12 million quid...or get a nice pay off if sacked earlier. What a great little earner... Win Win Win.. The Game now is far bigger than the fans, who are being conned and are prepared to pay all most anything to watch football and treated as cash cows for those high in the system to benefit. How some fans on 25K a year pay to watch Prem players on a 100K a week win or lose at their expense defies logic...but each unto their own... I like many just watch BBC MOTD and switch it off till next week ..... the real interest is slowly going as football is not what is was for me anymore .... Just my point of view .. ATB..
Sorry Jings but I don't think he has what it will need. Come to think of it, I don't see anyone else but that has me looking for a left of centre 'Donald' and my thoughts are so scrambled that I may need to go and lay down in a dark room! Maybe the FA leaders will sort out soccer and give a lead to the politicians but I doubt it. GL
If only , Jeremy . , lol.
Now that we have the ignominy of Allardyce could it be possible for the whole Country to stop and consider the obscene greed that sours almost every corner of UK life? It really is time for things to change.
Deutsche bank, Wait for the fine they receive i bet the sp will react the same as Deutsche and fall.
Lots of uncertainty, doom and gloom with British Banking currently. Maybe a bit more pain to come this week but sure it will change direction sometime soon.....
The pain! :-(
All very quiet .. Infact the quietest week I have known.. RBS has dropped 30 points since last high .. Not much else of note going on.. See how far it drops ... Could be a buying opportunity .. But the markets are at all time highs and maybe a correction is coming or a move to higher levels on the run up to Xmas ... Who knows .. The banking sector still under a cloud.. Down day for the UK and USA at the moment see what this week brings... Brexit and US Election and The Fed rate rise still unknown... Time like always will tell..
???????
rightly or wrongly i'm holding this because i think the recent news (Deutshe Bank related) is just old news that will hopefully turn out to have been fully provided for or at worst already adequately discounted for by the current price.
The happy days just keep coming.... http://www.dailymail.co.uk/money/markets/article-3793241/Royal-Bank-Scotland-facing-threat-crippling-multi-billion-pound-fine-selling-toxic-mortgage-securities.html ATB...