..according to a news article by Irish times on October 20; re stress tests; tsb is not profitable and they don't expect a profit until 2017; so October 26 stress test results may be in doubts; given the responses by noonan ; I would predict tsb is not a good pass candidate or noonan would have said so already: I have also seen news articles about a possible merger w ulster bank;
It looks as though my long held view is finally realised with this current impasse - the markets have fallen a bit which confirms to me that they are finally getting the message that recovery cannot be achieved when the tide is on the ebb. The governments printed the money (QE) and the banks have soaked it up reducing their loan books and paying these wonderful bonuses still or golden goodbyes 6MLN to the man from Tesco, when the business is shrinking. Wages are pegged at less than the rate of inflation - zero hours contracts have been invented - part time or reduced hours working is offered as proof that more people are working, when they have no choice but to accept a job any job because there benefit will be cut further. It is from this rickety foundation that we are expected to believe that recovery will come - the supermarkets are now engaged in a price war that will require them to increase their turnover to compensate for the reduced margin being earned or further reduce the quality of their product in order that their margin can be supported by the lower cost of input. These Masters of the Universe "know the price of everything and the value of nothing" their solution to everything seems to be cut prices/quality or both, which is defeating the object of growing the economy. All or most of the investment seems to have into the creation of service industries and next to nothing into research and development of new and innovative products which would help in the regeneration of the northern cities that people are now getting so excited about - because just like national socialism the current economic climate will only serve the purposes of UKIP or similar. The manufacturing cities were sacrificed along with their people and many of the pension funds vanished to create Mrs T's marvellous economic miracle - will the country ever recover, Mr Heath's unacceptable face of capitalism is an expression that often comes to mind. There I go again - maybe now some of you understand what I have been saying for ages - no wonder I have been spending so much time on the golf course. Good luck all..
RE: Dark lurkers
I am with you HD. It would have been nice to throw a few more at it. But with the percentage of eggs I initially put into this basket, and the increase that i have already experienced. The responsible thing I should be doing is taking a few eggs out. ... So, rather than getting more I am fine settling for.. Let it ride!
tsb - stress test
Irish 10yr bonds at 1.74% vs 14% in 2011 http://www.bloomberg.com/news/2014-10-14/noonan-says-any-permanent-tsb-capital-needs-won-t-hit-ireland.html
Yeah D/N I actually thought of throwing another few K into the fire when they were at .27c but then I said I'm so exposed to this drama queen of a share re its fluctuations I left well enough alone. Big day is stress test, Business post were fawning over AIB saying its flush with cash and will walk it but not so with BOI. We'll see. There's so many twists and turns with AIB , I believe BOI to be the more stable ship in the long run (deo gratis!!)
I hope somebody heeded mu suggestion last Wednesday to buy when it was at </= 0.27 and I forecasted a 10% rise after the 26th. Delighted for all to see we are already at 10%+ since then.
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