Member Info for snige

What we do know 20% or 800,000 SME's are not worth lending to.
The 80% the government is underwriting is for additional debt not the original.
Whatever happens we would have a cull of SME's and by lending it flattens the curve but the effect is the same on the banks over a longer period.
Borrowed money for borrowed time,delay,delay,delay.

UK unemployment figures are massaged.
Our rise should be equal to US but as ever the "get it done" government designed such a complex system millions will fall through the net, on purpose of course.

ERV,
So you are happy with UK data not being able to tell you where reported cases are?
Ignorance is bliss works for you but it doesn't work for the rest of us.

ERV,
I would think China's data is better than our worse than middle ages black cross on door system, at least in the 1600's you knew which towns/streets to avoid.

Redial,Treasury are coming up with plans to ease these loan approvals either tomorrow or Friday, i'm inclined the risk is more likely to end up with the banks.
I personally don't want to hold over a weekend either way,too much hassle.

Based on the last 3 weekends I would think only a mug would buy on a Thursday/Friday and hold for a Monday.
On a different note what a fantastic opportunity for road maintenance. Without messing the motorist around and "getting it done" on a cheaper day shift.

800,000 to 1 million sme's (20% of small businesses) unable to get credit, say an average closing debt of £50,000 ea, £40bn hit within a year.
This doesn't take into account up to 3 million sme's who get a loan some of which might not survive and some possible big business failures.
Divi could be a long time coming however we have been at 80p before without a divi.

If you run a debt economy you require trust.
The government is basically saying to the banks if we go down you are coming with us, now that's a bit of a gamble.

The government want the banks to loosen up, government will take it's 80% hit and charge the tax payer and the banks will take a 20% hit and make the shareholders pay.
Things won't be the same after covid and we still need to sort out our global relationships, whether we concentrate on far distant partnerships or close neighbours.
You win some,you lose some. I lost the Brexit argument, as you say "get over it".

LTI,
only trying to raise morale - it's covid 19 and we're going to make a success out of it and all that stuff etc.
Back to my DIY now. Isn't it amazing how we can improvise with the materials we already have around the home.
In the last couple of days at considerable risk to myself due to gales, I've been able to repair the roof tiles on the back of the house by replacing them with good ones taken from the front- proper job!

The farming industry is urgently seeking 80,000 BREXITEER labourers needed to pick and process fruit and vegetables. The workforce to harvest crops – largely from eastern Europe – is usually recruited at this time of year, but the block on international travel caused by the outbreak has made that impossible.
Get stuck in lads!

Wids you sad trucker.
Complaining, whinging, moaning - you do enough for all of us.

Wids,
"- fair play to them."
For them life hasn't changed that much.A boring life stuck on the road or in a cab on the net - more like good luck to them!

However, the Bank of England warned that the seven lenders – Royal Bank of Scotland, Barclays, HSBC, Lloyds, Standard Chartered, the UK arm of Santander and Nationwide building society – are relying more heavily on their ability to cut dividend payments, banker bonuses, and coupon payments on their corporate debt in order to pass the tests. During the first two years of a severe downturn of this kind, banks would have to make cuts worth a combined £41bn.
“Investors should be aware that banks would make such cuts as necessary if a stress were to materialise,” the central bank said.
The lenders were tested against a crisis scenario involving a 4.7% fall in UK GDP, a rise in unemployment to 9.2%, a 33% drop in house prices, an increase in interest rates to 4% and a near-30% drop in the value of the pound versus the US dollar.

Asp.
Be it on your own conscience, if its not going to change your life why are you claiming it?
£1.9bn in benefits was underpaid in 2017,do something amazing.

Asp.
Prescription drugs cost the NHS £17.4bn in 2017 and therefore you are part of the burden no different from any other benefit claimant.
We need to be less reliant on drugs.

Asp,
" I wouldn't want to become a burden on the state - they have enough on their plate bailing out the workers"
According to Sunak they are standing behind business so they can stand behind the workers, the bailing is to business.
Secondly I cannot believe an intelligent person like yourself wouldn't have sufficient savings for a rainy day or another 10yrs of Conservatism.

Calisto,
" it is gratifying to see Sterling recover ground it has lost over the last few days "
I would say the currency markets have responded positively to the news the UK government is locking itself up.

" If Boris dies, Lloyds will plunge below 10p in days." and 5p if he survives.

Then Syria is what you're looking for, with an incredibly safe 5 cases and no deaths.
I would also add Venezuela with .04 deaths per million and almost free petrol, must be worth peek.