AVB

Sorry I don't have the time to try to debate with somebody who throws words around like CDO without really understanding what they are and how 2018 is different to 2008. If you do please enlighten me. I am going to bed as I need to be up early as I am finishing restructuring a CDO desk and a Stock Lending/borrowing business and then fly back to the UK on Saturday so time is short!

Do you know how the CDO market is different today to what it was 10 years ago? By quoting what you are quoting I suspect not. “Where has all that money in the market come from...they have no assets”. That doesn’t even make sense. What market? Who are they? What assets are you referring to? “Public borrowing huge sums to bet on the stock market”. Where is your data to back that up? The stock market is dominated by institutional investors not Jo Soap. More of the public people bet on horses and fruit machines than the stock market.

And can you read? I also said within reason. 2-5% is what central banks aim for. A couple of reasons 1) Assuming that wages keep pace with inflation, and they generally do, the mortgage (or any debt) you took out 10 years ago is smaller as a percentage of your income now than it was then. 2) if you knew that the car you were going to buy would cheaper next year then you wouldn’t buy it today you would buy it next year. Deflation causes people to save money not to spend it. That causes the economy to stagnate. Yes cash is eroded by inflation which is why it is important for your investments to outstrip inflation. Just leaving it doing nothing is stupid. If you are then you are the mad one

I got a mortgage two years ago. My salary was £Y with bonus of 3x£Y I had a previous mortgage with the same bank of £Y (1 times annual salary excluding bonus) and was looking for a replacement mortgage of 80% of £Y. A no brainier in my mind but it was a struggle due to my relatively high outgoings. I would genuinely like to know the lenders (and dates) involved in the two cases you mention and I’ll pass it on to contacts at the FCA. Sounds dodgy to me. On your other points. The CDO market is very small compared to pre-2008 and structured differently (short tenureband Corporate Debt rather than long tenure residential). Yes there is some risk but nowhere near as much risk in the system as before. What worries you in particular about CDO’s? Derivatives? Any particular concers other than CDO’s? and I have no idea what you mean by ‘betting on futures market with borrowed money’? Well I know the practise but not in respect of Banking.

The MMR regulations that came in force in 2014 significantly changed the criteria from earnings to affordability. You can no longer get a mortgage just on n x earnings alone. Anybody who has got a mortgage since can testify it being a pita with the amount of documentation you have to provide. So why should the banks be blamed? It is clearly down to the individuals.

Buying things isn’t bad as it stimulates growth. Without it you get stagnation or recession. What needs to be controlled is inflation and debt. Both of which are good things but within reason. I feel we are in for a period of correction but I don’t think it will be a full blown recession.

I hadn’t noticed the filter and use softened water so perhaps mine hasn’t got blocked. Agree I am not sure of the benefit of these things. I bought it as a gadget and it doesn’t get used much nowadays.

I don’t think we were. A recession is when GDP growth is negative for two successive quarters. This didn’t occur in 2017.

What filters? It’s a steam mop so no filters as far as I can see.

I have a vax one. The mop gets dirty so shows that it is picking up muck but to be honest I can’t say I see any difference in the floor.

In this thread we have had reference to chicken, horse, duck and orange juice. I think turkey as well

It’s only a name. I worked once with a guy who hated his dad so much that he got rid of his surname complete. Not changed it to something else just removed it. Officially his name was ‘Wyn’. Caused all sorts of havoc with computers that insisted on everybody having a first and last name!

This topic has got far too emotional and likely to cause a falling out amongst PW ‘friends’. And as somebody who nowadays avoids confrontation I won’t be commenting on this anymore. Probably explains why I would more than likely legged it if faced with a madman with a large knife!

No he didn’t get in and lock the car. He was already in the car being driven out and he wasn’t driving. So what if he gets out and the terrorist opens the drivers door and attack’s the two other non-policemen in the car and kills them. Then we have another two dead. All of this hindsight is wonderful when it took place over a few seconds. I’ll agree to disagree with the heroes on here.

Sorry I don’t buy that. So he has to commit suicide for what purpose? He gets out, gets murdered and then you have two dead for no purpose. If he had something to use then fair enough but are you saying that he has to commit suicide just to satisfy everybody’s urge for him to be a hero? Would his wife and kids have wanted him to have done that? Mine wouldn’t have. And how long did he have to consider what was happening before the bad guy was neutralised? It was 82 seconds form first attack on pedestrians to him being killed. So 10 seconds perhaps?