Member Info for snige

Can't see the rush to get into banking as it will be one of the last industries to know the full cost of this pandemic and what level of dividend it can afford.
Oil market supply side will balance and demand will rise fast after lock down removed - that's from a person who believes in renewables.

And another question from the general public,this one from an Oxo.
"when am I going to get my Lloyds final dividend for 2019"
reply "go swivel on it"
Why do i bother watching.

Gateboy, I thought we were talking about the global financial crisis which effected all countries - what would you have done to save the UK banking system?
Germany also had a record deficit of £97bn and according to UK government figures for Jan 2020 borrowing stood at £44.8bn,£5.8bn ahead of previous year.
"Borrowing in the current financial year-to-date (April 2019 to January 2020) was £44.8 billion, £5.8 billion more than in the same period the previous year."
https://uk.reuters.com/article/uk-germany-deficit-idUKTRE62U3LW20100331

Gateboy,
"When the Tories took over in 2010, they were left a horrific mess by your beloved Labour Party. Austerity to balance the budget was necessary."
The wealthy got the tax breaks and the less well off paid the highest taxes ever and all that hard work,sacrifice for what.
I don't see us as better off now than 10 years ago.

Rebooking your holiday 3 times and finally on the fourth occasion in 2021 finding the company,airline and hotel have gone bust.

Sector specific i agree but hospitality does account for 11% of the economy. Those low paid workers many of whom are EU nationals won't be renting and many will probably return to their nation of origin-empty property does become a Lloyds problem.
Reference OAP's, can you see them spending and can you see public sector workers spending more to make up the shortfall?

Bank of England stress test failed to account for having the longest bank holiday in history and will report in early May.
I bet it crosses most peoples mind every day - can we get away with it?
In a normal year we have 8 bank holidays at employers expense but possibly by end of May 69 days (full on) in a row at government expense.
With little chance of further fiscal stimulus and a population more likely to save for a second spike in this pandemic,banks will be writing off more than PPI in a much shorter period.

The latest fake news from government is A & E admissions have halved because people are scared to attend hospital.
Although there is some truth in this statement the main reason people are not attending hospital is there is no requirement to obtain a sick note from a doctor for SSP or an absence from school.
130m working days are lost each year to sickness in the UK and a large proportion are referred to hospital by GP's.
Governments like to get their own way - standby for more pressure on banks to release loans.

when talk here was about following a Singapore style economy, well Corona has exposed the truth.
"The crisis has laid bare the dizzyingly unequal conditions endured by Singapore’s army of 1 million imported, low-wage laborers who make up a largely invisible underclass in this wealthy nation of 5.6 million".
UK would need approx. 11-12m to make it work for us.

So far £2.8bn is a complete failure for the government and a gain for the banks.
The £330bn was probably plucked out the sky to look politically good and were probably looking for half that figure.
If they can't get the mugs of viable business to borrow more from the banks then they'll have to actually have to borrow more themselves and pump it in.
A 100% guarantee would help but why not also pay them via negative interest for the first year.

W/E 10th April death figures 8,000 higher than 5 year average with sunny,warm weather.
5,400 accounted for by covid deaths in hospital which leaves 2,600 unexplained.
https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths/datasets/weeklyprovisionalfiguresondeathsregisteredinenglandandwales

Would have been a cheaper way to finance furlough.

It's a very bad time to lend,apart from close family and also a bad time to borrow unless they can make it as attractive as buying oil yesterday - pay me to have a loan?

The oil production cut of 10mbd doesn't take effect for another 10 days and demand has fallen by 30mbd.
The US with the oil shaler's is in the best position to turn the tap off with a production style of extraction but Trump has made some promises.
Could create additional demand by putting the corona testing stations in remote places?

If the GDP figure drops by 35% and government spending remained constant, wouldn't the current deficit of 2.6% rise by a similar amount.
Was Gordon Brown that bad after all?

Max Hastings isn't daft and said of Boris last year
"I have known Johnson since the 1980s, when I edited the Daily Telegraph and he was our flamboyant Brussels correspondent. I have argued for a decade that, while he is a brilliant entertainer who made a popular maître d’ for London as its mayor, he is unfit for national office, because it seems he cares for no interest save his own fame and gratification"
Useless apart from a good laugh.

jl, Do you remember when you were young?
A car out the front you are hoping to do up one day and dog chit in the backyard - best place for it.
How do you get to such a senior age and so miserable?

Onlyif,
we've had a lot of global warming since the 1970's you wouldn't get ice on the inside these days - go on get a heat pump you won't regret it.

I'm not criticising Love_You.
After you've burnt up your 10 litres in the Ferrari try riding a bike the next day and I assure you you'll enjoy the Ferrari even more.
Get a bike rack for it and you have the best of both worlds!

I also think people may have realised half the journeys they do are really not essential.
What price can you put on a peaceful and clean environment, i'm sticking to my 10 litres of petrol a week but not much space left in the tank now.