Global financial system implosion begins
- Thread starter Falcon
- Start date
CH1
"Red Guard"(NLYL)
charming music - rather retro in the manner of Hindemith with added repetition and tonality.
WTF Ruddy Yurts - 414 error - does not compute.
Flavour
hang the bankers
about bloody time we saw some swiss scalps
www.cnbc.com
Credit Suisse shares tank 10% on restructuring, capital concerns
Credit Suisse executives are in talks with investors to reassure them amid rising concerns over the bank's financial health, the Financial Times reported.
CH1
"Red Guard"(NLYL)
Liability-driven investment (LDI) is a process in which future pension commitments (liabilities) are hedged via long-dated bonds. This is sensible in concept, because liabilities (future pension payments) are discounted by the prevailing yield on long-dated bonds.
charming article here describing all this (which I hadn't heard of-though I concede that many Brain of Morbius types of here may eat drink and sleep LDIs)
The FT are interested in the issue too - but who could resist this CityWire article starting like this:?
"My fellow Northern Irishman George Best used to tell a story of how a waiter delivering more champagne to his hotel room one night found him on the bed with Miss World, both covered in £50 notes. Shaking his head, the waiter looked at the legendary former footballer and said: ‘George, where did it all go wrong?’"
charming article here describing all this (which I hadn't heard of-though I concede that many Brain of Morbius types of here may eat drink and sleep LDIs)
The FT are interested in the issue too - but who could resist this CityWire article starting like this:?
"My fellow Northern Irishman George Best used to tell a story of how a waiter delivering more champagne to his hotel room one night found him on the bed with Miss World, both covered in £50 notes. Shaking his head, the waiter looked at the legendary former footballer and said: ‘George, where did it all go wrong?’"
CH1
"Red Guard"(NLYL)
I spent 1¼ hours in the Halifax yesterday getting my ISA upgraded from 0.45% to 3.4%
I thought it was me - but these banks are almost immune to paying decent rates on legacy accounts.
Having tracked Kwasi Kwarteng though Heathrow on Sky I'm thinking I should have delayed till next week.
Or maybe not. I don't remember such volatility since Black Monday in 1987.
That was accompanied by a hurricane though. PACE Michael Fish.
I thought it was me - but these banks are almost immune to paying decent rates on legacy accounts.
Having tracked Kwasi Kwarteng though Heathrow on Sky I'm thinking I should have delayed till next week.
Or maybe not. I don't remember such volatility since Black Monday in 1987.
That was accompanied by a hurricane though. PACE Michael Fish.
Artaxerxes
Look out, he's got a gnu!
ska invita
back on the other side
What do they invest in?
Artaxerxes
Look out, he's got a gnu!
ska invita
back on the other side
this was an excellent watch, possibly the most interesting thing ive seen this year
platinumsage
HaveMyPassword123
I'm not watching one and a half hours of someone I've never heard of before, could you summarise it in like two sentences or something?
ska invita
back on the other side
ska invita
back on the other side
what makes him additionally interesting and having a unique perspective is that he comes from a poor family - Barking? Romford? East London somewhere. I forget now, and has a perpetual outsiders view of the whole shitshow of the banking world...and he says its that perspective that makes him a top trader often making correct predictions where the rich insulated insiders get it wrong
lots of topics covered in the video, all very interesting and unlike most economists came across as accurate to me
lots of topics covered in the video, all very interesting and unlike most economists came across as accurate to me
platinumsage
HaveMyPassword123
Loads of traders are working class and from Essex.
This is the LME, which is the last open outcry floor. Basically everyone in this pic is from Romford or Billericay etc. Not sure it gives that YouTuber the edge he claims:
This is the LME, which is the last open outcry floor. Basically everyone in this pic is from Romford or Billericay etc. Not sure it gives that YouTuber the edge he claims:
ska invita
back on the other side
He talks about that a bit. He says the notion of the east end barrow boy trader, if it was true at some point in the 80s has fully reversed in recent years and in his experience is the usual rich boys club other parts of the establishment are - at least within the floors he was on
Brainaddict
slight system overdrive
That would be my reaction usually as well, but as someone who pretty much never listens to a 1.5hr video or podcast (this is also available on spotify), and usually gives up in the first 10 mins when I do, I'm going to say that this one was worth every minute. It has an interesting personal story, amusing take-downs of top economists, savage attacks on long term government policy, clearer descriptions of how the economy works than you'll hear almost anywhere, and good politics as well.
Ming
I shot a man in Reno...
I subscribed to his channel! Novara Media are really good I find also. The experts they get on really know their stuff.
platinumsage
HaveMyPassword123
I watched it, it’s quite understandable on 1.5x speed which chops half an hour off. In summary “capitalism is finished” = home-ownership is finished for working class people without inheritance etc who save a deposit from from their earnings. This is due to QE and low interest rates which has caused asset price inflation. This needs to be unwound by taxing wealth.
CH1
"Red Guard"(NLYL)
In the US I believe this is less of an issue as house prices seem to move down as well as up,
I was intrigued to check out Evanston - a mixed but quite posh university suburb NW of Chicago (home NW University of Illinois) - but also easily and cheaoly commutable to downtown Chicago. Flats from $110,000, houses from $360,000/
Why is rip-off Britain such a rip-off? Same as London ooop north eg Manchester or York
Evanston Real Estate - Evanston IL Homes for Sale
Real Estate for Sale in Evanston IL.
Numbers
an ting!
Do people actually believe this?
CH1
"Red Guard"(NLYL)
Why not?
platinumsage
HaveMyPassword123
It certainly was after the big bang, and there are still plenty left if declining.
Artaxerxes
Look out, he's got a gnu!
Essex resident*, it's got a lot of moderately well off sons of working class traders cosplaying as cheeky barrow boys (with flat caps, thanks to peaky blinders I think), acting as if they are the next big recruitment agent or recruitment consultant, I have my doubts many of them are any good.
Mostly it's cab drivers and builders who seem to work on each others houses.
*Fringes anyway
gosub
~#
UK is better if you count cards...US are all on 20 year mortgage deals...UK mortgage deals make it a much shorter stackIn the US I believe this is less of an issue as house prices seem to move down as well as up,
I was intrigued to check out Evanston - a mixed but quite posh university suburb NW of Chicago (home NW University of Illinois) - but also easily and cheaoly commutable to downtown Chicago. Flats from $110,000, houses from $360,000/
Why is rip-off Britain such a rip-off? Same as London ooop north eg Manchester or York
Evanston Real Estate - Evanston IL Homes for Sale
Real Estate for Sale in Evanston IL.search.vestapreferred.com
CH1
"Red Guard"(NLYL)
Can you say that in plain English?
Another difference is the American practice of "foreclosure" which seems to create a property bargain basement.
Which used to be the case in London until the 1980s when property developers and builders inserted themselves between the bargains and the buyers.
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