Freight Dog:
Before you start, you do know where this thread is heading don’t you?
High viz agency to blame?
Goldfinger:
Has everyone bought all their euros for when they go on holiday■■?As I’m guessing, you’ll not get a good exchange rate VERY shortly…
■■■■ Europe, come to Canada for your holiday, £1=$2 at the minute, not so long ago it was £1=$1.35
If China goes into decline, then there will be less containers to pick up from the docks and Poundland and Wilko’s shelves will be looking a bit empty, but am sure life will still go on. One could suggest that some of the stuff coming from China is so ridiculously cheap, it makes you wonder how they manage to produce it for that money in the first place, reduced wage rates or not.
China, if anything, will be pushing their sales as exports all the more - such as is now encouraged by their recent “devaluation” which was nothing more than the same as a regular down day for their currency, had it ever been traded properly on the open market.
They were never buying a lot from us on the other hand. I have to conclude that the economy in this country is going to move back to the days when container ships turn up at places like Felixstowe full to the brim - and all go back empty again. The UK container driver still gets the one-way drop work - but any British yard operating in China (NDs do - they’re not British though) is going to have a bit of a downturn there.
Meanwhile, the stock market is in bounce mode today. If the pattern of 1987 black monday is repeated, then the market should close today around 300 higher (it’s up nearly 600 on the overnight market right now) meaning that it will give back around half of it’s up-front gains. Such a move is known technically as a dead cat bounce or 50% retracement.
If the market manages to close up more than it fell yesterday outright - then the entire crash has been negated. Bad news for anyone who sold yesterday. 
LIBERTY_GUY:
If China goes into decline, then there will be less containers to pick up from the docks and Poundland and Wilko’s shelves will be looking a bit empty, but am sure life will still go on. One could suggest that some of the stuff coming from China is so ridiculously cheap, it makes you wonder how they manage to produce it for that money in the first place, reduced wage rates or not.
Bought a pair of Multi-meter leads from Amazon, they were sent airmail from China and cost me £1.01 including postage.
ezydriver:
Freight Dog:
Before you start, you do know where this thread is heading don’t you?I wouldn’t drive artics for £8p/h and I can’t believe anybody does.
I did.
I got £6.50
plus £50.- a Week Bonus if worked
Sat,Sun and O/Time £9.-
I worked Thursday to Sunday and Mon to Wed off
Most i got out was £944.-/Week before Tax 
Fincham:
LIBERTY_GUY:
If China goes into decline, then there will be less containers to pick up from the docks and Poundland and Wilko’s shelves will be looking a bit empty, but am sure life will still go on. One could suggest that some of the stuff coming from China is so ridiculously cheap, it makes you wonder how they manage to produce it for that money in the first place, reduced wage rates or not.Bought a pair of Multi-meter leads from Amazon, they were sent airmail from China and cost me £1.01 including postage.
Got some sets of ‘PRC’-made headphones @ £1 each. I don’t care if they break at the drop of a hat at that price.
I remember when Headphones were like £10+ back in the late 70’s! 
“Buy buy BUY” and see where we are this time next year!!!
If you don’t need to sell in the near future, you only need to buy at a lower price than before. Anyone who bought yesterday seems to be looking OK today.
The big risks come with buying with borrowed money, or using money you may well need for something else in the very near future.
If you need a profit quickly, then sod’s law says it ain’t gonna happen.
The reverse is the case when you get some idiots who buy something on the offchance, see it double in price practically overnight, and then they DON’T bleedin sell… Only to see the price drop all the way back down again, and eventually go bust - as was common during the dot.com boom and bust of 15 years ago.
My brother bought £800 worth of penny shares, saw them go to £25,000 worth, and held on to the ■■■■ things instead of thinking “Hey, they can’t possibly be worth THAT!” like I would…
The shares went ■■■■ up shortly after, and to this day he thinks he only lost £800…
How does a crash affect the housing market winseer? I don’t want to buy a house then the very next week it plummets into deepest darkest negative equity
merc0447:
How does a crash affect the housing market winseer? I don’t want to buy a house then the very next week it plummets into deepest darkest negative equity
Sorry bud, the bond market rally (flight to quality) means that upward pressure is taken off interest rates.
Without the threat of an imminent interest rate hike or mansion taxes - the only way property prices are going for the remainder of this parliament is up, unfortunately for those unable to get a house already.
After the stock market crash of 1987, Nigel Lawson slashed interest rates - which sparked off the massive boom in house prices that ended in the great housing bust of 1990-94.
He also slyly got rid of mortgage interest tax relief as well, meaning that in the long run we are all worse off.
China have today cut interest rates.
A housing crash cannot happen unless there are millions of people forced to sell because their mortgage payments have gone up to more than their current income.
The best bet for a housing crash therefore - is an overheating economy, and an idiot at the helm in Government. We’ve got the second half of that equation in place already for sure… It could be a long wait for the former to appear at street level however.
To quote warren buffet
“Be greedy when others are fearful,and be fearful when others are greedy”
commonrail:
To quote warren buffet
“Be greedy when others are fearful,and be fearful when others are greedy”
100% on the money 
It always made me laugh that people only think about selling after the crash - and not when the market has just risen for the umpteenth day on the spin without damned good reason for doing so…
The market often goes up for a lot less reason than it goes down - hence why the down moves tend to be quicker and larger…
Warren Buffet didn’t heed his own advice when buying tescos after it had already rallied, and then dumping them at the bottom of the market after some bad results got released… Almost as soon as he dumped them, they rallied back up again. I think that tescos trade was “Trader Fail of the Year 2014”…
Today’s dow jones rallied 600 points on the overnight market, stablelized at 300 up for hours, and then tanked at the end for -204, taking it back near the net -1000 it was at the worst of Monday…
Considering China rallied today and all, - Tomorrow will be the “third time tells for all” I reckons.
He aint done too bad though.
Buffet lost a packet on Gold the previous year. I dunno what the gold loss was exactly, but it’s rumoured to be in the 9 figure range. The Tescos loss was reputed to be £500m - a mid 9-figure amount in itself.
As you say, overall it’s a drop in the bucket for Buffet who’s got around £44bn. It’s no more of a dent to him than leaving your wallet in the pub, and going back for it when missed - only to find the pub has closed down, and the former publican has gone to Ibiza on a one way easyjet ticket…
China this week somewhere next week but due to the size and economy of China and virtually every company deals with China is why it’s being felt more everywhere.as said the financial world goes in cycles but it down to the size of the country as to how hard
Companies have Tier 1 capital which is composed of retained earnings (profit back into the business not to shareholders ) and common stock (shares both common and preferred ) which should show to regulators that they can absorb irregular financial movements but different countries use different instruments to show tier 1 values.
The bounce back has been quite strong in the stock market, with it recovering by this point 80-90% of what it lost.
Gold has gone nowhere, and as of today, Crude is back to the levels of last week as well. “Bouncing along the bottom” rather than dropping further.
Interestingly though, the Bond market which initially rallied on a flight to quality has since slumped itself, suggesting that a “sooner” rise in interest rates is now back on the cards.
This comes as a surprise to someone like me, as the bad news for the near future of the economy hasn’t gone away here. If anything, it’s almost as if the Banks were trying to engineer a one-off interest rate hike before the end of the year (jumping the gun on "is the economy strong enough to take it?) - as a feint to get people to “panic buy” their crappy fixed rate mortgage products, where you pay a commission AND pay over the odds for interest - for the peace of mind that “the rate then can’t rise for five years” is supposed to give you… Eg. fix at 2.25% and come off your current 1.75% (base rate plus 1% tracker)
With people noticing by this point that rates have gone nowhere since 2008, - who’s gonna want to buy a fix at a premium when you could sit pat on a tracker (as I have done) for the interim?
Shift the interest rate from 0.5% to 1.0% around halloween though…?
Well, I won’t be falling for such a bank feint - but millions of others no doubt will. Job done for the banks then. 
We need a decent interest rate rise sooner rather than later.As it stands investors are being mugged to subsidise low wage employment.Maybe the banks are suddenly realising the catch 22 that the same amount of capital can’t be used to supply both its owners having to raid it to make up for the money lost in the non existent interest at the same time as borrowers and their employers are using it as a type of income support benefit.IE what happens when all the capital inevitably runs out.
On that note it’s my guess we’re in a stand off between the banks needing to raise interest rates significantly and the employers saying that they won’t pay the wages to cover it.In which case jittery unstable stock markets are only a small symptom of the under lying erosion in the foundations of the economy.
Those foundations at present just being based on the banks playing for time regarding effectively zero returns on Capital and investors therefore spending the Capital and the banks then printing money to replace the shortfall.
Did someone mention a buffet? Can’t be arsed to read the whole thread. When’s the buffet starting?