The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Just re-read your post, and there are some properly good ideas in there. That is to say, good ideas if you want to expand home ownership, but bad ideas if you just want to increase corporate and individual greed.
Guess which one will be the winner?
"todays ridiculous housing market".
Ridiculous doesn't even get close. The whole thing is a giant, corrupt ponzi scheme, designed purely to reallocate money from those who already don't have much, to those who already have too much. Except you can never have too much, can you?
20/25 years ago, you could buy a house for roughly 3 to 3.5 times average salary. So even your average earner could spend maybe a year or so cutting back on nights out/holidays, etc. and have enough for a deposit, and get a mortgage for the balance. No more. I think your average house price is now roughly 9 times average salary. Bonkers.
Is this an accident? Don't make me laugh. As a financial institution/ investor,, are you better off lending £100,000, or £300,00? Not rocket science, is it? Or better still, buy up all the houses, rent them out at extortionate prices, while still owning them - huge financial gain (Lloyds Bank have clearly set out their intention in this regard).
Basically, vested interest has realised that depriving your average person of home ownership can be hugely beneficial to them. The hopes and aspirations of millions are merely collateral damage. As are the social consequences of this (covert) policy. Forcing people into (extortionate) rental, as opposed to ownership, has huge socio-economic consequences. People renting are less likely to (financially or emotionally) be invested in their community. Crime is higher where there is a higher proportion of rental properties (fact). I hate to repeat myself, but as I mentioned the other day, if you restrict supply, but increase demand (as has been the case in this country over the last decade or so), then the price will soar. Where has house building gone in the last few years? Where has immigration gone in the last few years? Nuff said.
And now you wonder why we are on the edge of complete social breakdown? Not saying it's the only factor, but it's certainly a huge factor.
PS. Tony Blair was one of the main instigators of unlimited immigration. How many houses does he own? I think it's about 40. Coincidence? ha ha ha. HA HA HA.
Rant over.
Only just checked in today, and seeing a rise of over 4 pence, became instantly semi-tumescent . Then I realised that this had not even got us back to the pitiful level of £1.50, and deflation immediately set in. Hence the status quo currently prevails. Disappointing.
Even as I typed that earlier, I thought it might be problematic. Then I thought - "**k it. If certain people can't see it for the ironic/comedic statement that it is, then that's their problem, Unfortunately, in the current environment, it means that a certain group of people will will zoom in on something like that, as opposed to tackling the real, deep-seated issues that exist. It's an easy option.
The "culture war" is real, and it's here. Free speech is at stake. Unfortunately, a lot of people don't seem to realise that free speech means hearing things you don't like/agree with. (Un) Social media has been catastrophic here, where people just get trapped in echo chambers. We used to go to the pub, and if you disagreed with someone, you would just say "you're talking bpll***s", and then buy them a pint. Sadly, no more.
Anyway, I've no idea what the share price is right now.
Come and have a go if you think you're woke enough!
Thanks stoodio - I gratefully, and humbly, accept the POTY award for 2023. My second consecutive win (just saying) - having been awarded it by Skindle last year . I don't do it for the glory and adulation, merely for the respect of my peers. That said, a (modest) cash prize wouldn't go amiss. Five grand would do it. After all, we all have living expenses, and a steady diet of Smirnoff, Dom Perignon (special occasions only) and Greggs sausage rolls doesn't come cheap. If you could arrange for a dolly-bird in a swimsuit to present me with the trophy (and cheque) at this years ceremony, that would be smashing. Thanks again.
PS - did I mention that's 2 years in a row?
PPS - looks like we might be about to bounce back to the dizzying heights of £1.50! I think I've just had an involuntary emission.
Fordm -congrats on your profitable day trade. Wish I could simulate, but unfortunately I seem to have perfected the art of " buy high, sell low". Next time you anticipate a turnaround of 4/5 pence in 24 hours, please let me know in advance. Thanks.
That said, I may well have jumped in here (or in EZJ) yesterday, but unfortunately am skint, having blown my last few shekels on buying here at the "low" price of £1.63 (IAG) and £4.50 (EZJ) a few weeks back. C'est la vie.
What little I had left has been nicked by by my dentist. Now that NHS dentistry has been (unofficially) abolished, private dentists can now charge what they like - basic supply and demand. Economics for a 3 year old. A bit like housing - if you increase demand, but reduce supply, then the price inevitably rises. Simples. Still - as long as some people are getting rich, f**k everyone else, right?
If only I was rich.....
Apologies for (yet another) slightly drunken rant.
PS - really looking forward to next year - another election. Can't see thee markets liking the uncertainty, or the likelihood of a labour govt. So looks like yet another year of fragility and decay -a bit like my teeth really.
Still - things must improve at some point, right? Wrong. We appear to be in some kind of terminal decline, and I can't see things improving this side of my mortality.
Everything ends - I'm sure the Romans thought they had life by the balls, and look how that turned out.
On the bright side. at least I can walk into my local Co-op, pick up 3 bottles of vodka and 2 Ginsters pasties, and leave without paying, or fear of repercussion. What a great country.
Anyway - it has been my pleasure to bring joy to all of you.
Merry Xmas.
Ha ha ha. I use Google current time share price, and it's normally pretty good, so when I stumbled in from the pub, I thought - whey hey! Must be some incredible RNS that has led to a rerate. Sadly not.
Still more chance of me sleeping with Kyles, or winning the lottery (and I've never bought a ticket) than this mongrel abortion coming good.
fordm - you are so right about the "analysis" of rags like "The Motley Fool". Beyond parody.
Been a while since you mentioned your koi pond - hope it is now a heated Olympic sized pool.
PS - when I said I've never bought a ticket, I meant for the lottery, not for the chance to sleep with Kylie.
I should be so lucky....
I did say just a few days ago that we may see a slow incremental rise back to 160'ish, before losing it all in a couple of sessions. Turns out we didn't even make 160 this time, and then lost it all (and more) in an hour or so. FFS.
Gaffers - LOL.
Your assessment of the UK economy, and the country as a whole, is somewhat downbeat and depressing. I agree 100%. Very difficult to be upbeat at the moment.
As for the share price here - there may well be an incremental rise over the next week or so, dragging us back into the low 160's. This will then be wiped out in 2 sessions, taking us to a new low. Rinse and repeat.
PS- St Petersburg Florida - much better weather, and more chicks in bikinis. St Petersburg Russia - more culture, and no shortage of beautiful women. They're just wearing more clothes.
PPS - Grezzz. yes JB is 78, but she's still hot. And in my mind, she will will always look the way she did in "Bullitt" or "The Deep" Smoking hot.
Hi fordm - you should deffo visit Russia (current situation excepted). I was lucky enough to visit St Petersburg and the surrounding area several times, and it's fab. The people are fascinating, and mostly great. It's just that they have been monumentally let down by their "leaders" - even more than the UK. I see a theme developing there.
Anyway, I seem to have developed a habit lately of having a late night (alcohol-fuelled) rant. I check in the next day, expecting a large dose of opprobrium, but have been pleasantly surprised to see just how many people actually agree with me. I think that the realisation of how much the average person (that's me) has been betrayed by their "leaders", is gaining traction quite rapidly.
Anyway, no ranting tonight, just a sincere hope that the share price rises, and that I get laid. Ha ha ha. Not sure which is less likely, but if I'm being brutally honest, I think they are both pretty unlikely.
Let's hope I'm wrong (twice).
What next? Go into a restaurant, see the meal price, and when the bill comes, see that you have been charged extra for the plate. And the salt. And the pepper.
Go to the pub, and see the already extortionate price of a pint. And then pay extra for the glass.
Welcome to modern-day capitalism ( rampant in Britain). You are missing the point - none of these things are there to provide me or you with any kind of decent service or product, they are there to extract every possible penny that they can from me or you. Welcome to 21st century capitalist society.
Of course, this will come thinly disguised under the general heading of "competition". Except that's boll***s. Can you choose to have another water pipeline into your house? No. Can you choose to get on a different trainline to your destination? No. Can you choose whether to have sewage pumped into your river? No.
But as long as a few people get to fill their pockets with (our) cash, it's ok. All these things are not some kind of accident, as certain people would have you believe, No- it's a policy. And where there is a gossamer thick veneer of competition, if you scrape the surface you will find the lesser-spotted cartel.
So what's gone wrong? Well nothing really. The last few years have not really been a disaster (although they may have for me and you) - but they have actually been very successful, and done exactly what they were meant to do - ie. a reverse Robin Hood, and take as much as possible from people who were already struggling, and give it to those who already had more than they could possibly need. But of course, you can never have enough, can you? Just ask Roman Abramovich. Every time he bought a yacht, he wanted another a little bit longer. You don't need a degree n psychology to work that one out.
Anyway, apologies for (yet another) rant.
Yours sincerely, a man on the edge.
Hi Skindle - thanks for that link - very interesting, and very accurate. Yes, I am still with you, but I must admit it's a struggle lately. Being in rural Sussex brings out mixed emotions for me. It's a reminder of just how great, and beautiful, this country can be. Unfortunately it is now only "Great" Britain for those with piles of money (unfortunately that doesn't include me). For most (working) people, it has now become a horror story. Apparently the UK is the fifth or sixth richest country in the world. Really? As someone smarter than me pointed out - you can't eat GDP. If most of the wealth is owned (stolen) by a small minority of people, then living in a "wealthy" country becomes meaningless. You could have a much better life in a "poor" country. I've been to Rwanda, and trust me - it's not so bad.
Of course, if you judge your life by the size of you wallet, and the car you drive, then certain countries are better for you. If, however, you prefer to judge your life by health/personal happiness/relationships/social stability and equality etc. then you need to look elsewhere. (the Scandinavian countries being a good example).
I (senselessly) keep expecting that things can only get better - but they're not.
I'm stuck here for now, but if I get the chance, I'm off to Norway. Been there many times, and it's superior to us in numerous ways.
Anyway. thanks for staying in touch, and all the best.
PS - fordm - hello, and thanks for your input.
PPS - returning to the share price here, I can't believe we have slipped back into the 150's. All together now.... For F***s sake!
"I get knocked down , but I get up again..."
Not if you're an IAG shareholder.
"I get knocked down, and I stay down - you ain't never gonna keep me up...".
Apologies for the somewhat erratic posts, but I fear the last few years have taken their toll.
My brother-in-law used to work for Rolls Royce, and even though he has left, he still gets their correspondence. So they contacted him with a share offer about 7 or 8 months ago, and he bought a few grands worth. He's just sold them for a 160% profit. FFS.
Off to Sussex this weekend, so it's about 50/50 whether I return from Beachy Head. If I don't, respect to all those I have conversed with - fordm/skindle/ QRQ/Casiokid etc. etc.
PS just been charged £6.80 for a pint of Moretti. FFS (again). Beachy Head, here I come.