Member Info for skier1

Progi has bottled it! Think, in military circles, they call that a p*ssy.

If Putin goes, this is as big as the fall of the Berlin Wall in 1989.

Already loads of 9% mortgage deals out there, from Aldermore and others. Only a matter of time before someone offers the first 10% mortgage deal and the newspaper headlines go wild.

UK banks are on track to make £35 billion of pure net profit in 2023.

Slamming UK banks with a £20 billion windfall tax, and handing the free cash to people who can't control their mortgage spending, is barely a drop in the bucket to the likes of Lloyds, HSBC, etc.

That drumbeat for a windfall tax is only going to get louder as BoE rates leap up toward the 6% level and some mortgage rates nudge 10%.

..."Look at the author of that article, John McDonnell, tells you everything you need to know. There are loads of reasons why they wont push a windfall tax onto the banks; Two obvious ones is that they want banks to lend money to businesses, another is about ensuring banks have enough provision to offer solutions to struggling mortgage holders"...

This sounds like "wishful thinking".

If the UK state wants to crush an industry to satiate hard-left ideology, it will do so. Just look at the oil and gas industry, which employs ~200k people, and is quietly being dismantled. Nobody cares.

If the hard-Left Tories or Labour ultras want to crush UK banks with a windfall tax in 2023-24, they will do so, regardless of the economic consequences. As those siren calls for a UK bank windfall tax grow louder, it is going to get harder and harder for the UK state to resist.

Simon1367,

The drumbeat of a UK bank windfall tax is growing louder by the day. This is just one example, from yesterday. We are moving into a new pseudo-Marxist era, where the state quietly takes control of our lives, including our finances. Times have changed, mate.

https://www.theguardian.com/commentisfree/2023/jun/21/britain-mortgage-banks-bailout-profits-homeowners

Yes, UK interest rates today are still low, by recent historical standards.

The number of households with variable or soon-to-be-refixed mortgages in 2023 is tiny, less than 5% of total.

Everyone who wants one has a job.

Stay calm...

Lots of chat on ITV Peston tonight about walloping the UK banks with a big Tory or Labour windfall tax, to give free cash to homeowners who have mis-planned their mortgages and taken on too much debt they couldn't afford.

JMAT looks ready again to retest its recent lows around the £16.50-17.00 range.

VOD is falling -- in a rising market. That is a (very) bearish sign.

Down -2% since the deal was announced, down -40% in the past year alone, and down -85% this century.

VOD is one of the worst-performing major shares in the worldwide history of mankind.

Can never understand why the media wheel out Mr Heseltine as some kind of soothsayer.

Heseltine failed to make Prime Minister in the 1980s / 1990s, failed to save Britain's last big military helicopter manufacturer, and failed to win the Brexit vote. He has lost almost every major tussle of his career for the past 40 years!

UK inflation has been caused by the bitter Remainer fanatics at the top table of the Bank of England (BoE), who utterly failed to predict inflation in 2021, completely failed to raise bank rates fast enough in 2022, and now we're all suffering in 2023.

The BoE has 1 main job... control inflation. It failed.

Remainers caused today's inflation.

Hydrogen is like flying cars -- they are always coming "in a few years", but never do.

Hydrogen only really works as a gas if used locally, and for it to be viable as a global export fuel, it has to be transformed into methanol or ammonia. The start-to-finish process remains very difficult and expensive. What's more, a hydrogen fire is invisible! Hydrogen gas is colourless, odourless, has no known odourants, and also tasteless. The stuff is a nightmare, not a dream.

Interesting to see ANIC has this week appointed a new PR agency. Feels like a PR campaign for ANIC is around the corner...

May be due to banknote maker, De La Rue, which prints those UK pound notes. It has seemingly been struggling with supply chain shortages for the past couple years, due to Covid, material logistics, employee hiring, inflation, etc.

Sturgeon is being questioned about the mysterious £600,000.00 and a posh campervan.

Boris is being hounded for eating a slice of cake in a 1950s Stalinist show trial.

The cases are night and day.

Lol.

You can always rely on the Britain-hating self-loathing doomsters to talk down their own country. It never fails :-(

The WE Soda deal failed because the firm was seeking to list at a a huge over-valuation.

The problem is WE Soda. Not London.

Read and learn...

https://www.ft.com/content/29fa2998-186b-4178-a860-6a3cbd3d5059

It's time to stop the housing hysteria.

Monthly mortgage and deposit costs, as a % of UK income, have remained roughly the same for the past half-century. Financial markets remain gigantic and easy to access. Buying a house today in the 2020s is about the same as it's always been. Never easy, never has been, but defo doable with effort and research.

UK habits and culture are changing. Younger folks like to lease their flash car, subscribe to their streaming entertainment, and rent their showy crib. We are Generation Share.

Great to see the UK pound, GDP and FTSE all powering higher. The new Brexit era is quietly gathering a head of steam.

..."IF the huge rental prices, which I agree are crazy etc, are real showstoppers to families around the UK, then WHY haven't millions upon millions already switched to buying a new home?"...

UK culture has changed (dramatically).

Generation Hoard of the 20th century has become Generation Share of the 21st century.

Younger folks prefer to rent everything (not buy), from homes to cars to posh clothes.

Surprised how few people understand this cultural shift, which has been ongoing for a decade or more.

When you can now easily get 5-9% risk-free from a UK high-street savings account, the LLOY 5-6% divi no longer looks particularly attractive.