[Archived] 2 Million Unemployed By Christmas

[Billy Castell]

Nice to know how you met your new wife Abbey!

[Flopsy]

bloody hell, Abbey now has standards

[ABBEY]

im going to show her these last comments haha....ah well work time again.1pm -6.30am after finishing at five , 2m uneployed by christmas ?looks like im on stupid nights until then ,ah well not complaing.

[jim mk2]

You know the world economy is in trouble when major banks start collapsing which is happening in the US with the demise of Lehman Brothers and 25,000 thrown out of work following on from the trouble at Bear Stearns only a few weeks ago.

Although Northern Rock has been nationalised and the Derbyshire and Cheshire building societies taken over by the Natiowide because they were effectively bust, all we need now is similar blood-letting in London with the collapse of a major bank (RBS is my favourite) and the bottom of this financial bear market might be near.

Not the collapse in house prices however - that has 2 more years at least to go.

No one interested in the credit crunch, major banks going bust, your savings and pensions at risk and the the value of your house going down every day ?

[broadsword]

I bank with Lloyds, don't have much of a pension and don't own a house at the minute, so not really.

I thought you always maintained that pensions were a good investment? Or am I thinking of the stock market? Neither seems like a good place to put your money at the moment.

I might just as well put my money down the casino.

[Bazzanotsogreat]

No one interested in the credit crunch, major banks going bust, your savings and pensions at risk and the the value of your house going down every day ?

No Jim people on here tend to post on threads regarding rabbits or the comparative hardness of geese and foxes ( yet I’m told I am strange for wishing to discuss current affairs) rather than the fundamental issues at hand. Mind you ,weren’t you one of those that lobbied the mods for the closure of the most stimulating debates?

No wonder you can't get anyone to response to your posts; when you have helped develop a culture where people are frightened of expressing there true opinions for fear of censure or bans.

[Billy Castell]

No one interested in the credit crunch, major banks going bust, your savings and pensions at risk and the the value of your house going down every day ?

I have a somewhat morbid interest. Seeing banks go under and stockbrokers and capitalists in a mood, it is all strangely compolsive to me. HBOS, who own Royal bank of Scotland and Halifax are the latest to poo themselves. I have no mortgage and sadly not in the position to have a pension, so things are not going to affect me quite as much as some.

And if some of the people who got us into this position and lose everything, that will be sweet. I mean the merchant bankers who were sitting around in the city flogging dodgy loans to each other. Taking risks with other people's money and selling the general population down the river is one aspect of capitalism I find disgusting. We are all victims of this chaos, and I bet there are some fat cats taking all the money somewhere.

[Ozz]

Jim is right-the economy is heading for melt down, batton down the hatches, it is going to be a rough ride. In my business I am hearing about a lot of people going tats up nearly every day now. I blame WalMart.

[Billy Castell]

I blame the capitalists who legally perform scams in the markets for personal profit. Don't worry, the super-rich will be OK. They'll be able to hide their money away in the Bahamas, Jersey and other such places.

[Neil Weaver]

I thought you always maintained that pensions were a good investment? Or am I thinking of the stock market? Neither seems like a good place to put your money at the moment.

Depends if you're feeling brave (or daft, take your pick ). It could be argued it's a terrific time to invest cos it's not too often lots of shares will be this cheap. Sure I read somewhere recently that in the past 20 years or so, the stock market is up something like 500% - if you'd not been invested on about the 'best' 30 days in that 20 years, you'd only be up about 50%. Moral is if you can afford to leave your brass tied up for 5 years +, be brave and put it into shares.

[Hughesy]

Im thinking of buying shares in banks, maybe Barclays or maybe HBOS - Does anyone on here have any sound financial knowledge? Seems like a great time for me to invest while the price is so low.

[thenodrog]

be brave and put it into shares.

Or better still be brave and be clever by only putting what you can afford to lose into shares.

[Hughesy]

Not the time to buy bank shares - It will be next year but not quite yet.

Money advice

[dave birch]

Or better still be brave and be clever by only putting what you can afford to lose into shares.

Didn't think I'd be agreeing with gord, but this is the best advice. Things are low, may get lower, but eventually things will rise, confidence will come back and sell on the way up.

Having said that, there is good money to be made on a falling market, it's knowing when to buy, and when to sell.

[broadsword]

You never count your money, when you're sitting at the table

There'll be plenty of time for counting, when the dealing's done ...

[jim mk2]

I wouldn't buy bank shares just yet - there's still too much uncertainty and there is still the possibility that more banks could go under. Definitely a sector to watch for a buying opportunity though.

If you really want to invest against the herd (always a good way of making money) look at oil, mining and commodity stocks which have fallen dramatically since early summer owing to the worldwide economic slowdown

Investment trusts are a good way in - both the Blackrock World Mining Trust and Blackrock Commodities Trust can be bought at significant discounts to net asset value having fallen more than 45 per cent from their peaks in a few months.

Remember that the present economic difficulties will pass eventually and the long term story of soaring demand for resources from the expanding economies of China and India remains intact for the next 20 to 30 years at least.

[Hughesy]

Has anyone on here got any good knowledge on shares? If im right in thinking - you can buy and sell shares as and when you want yeah? There is no time limit on how long you have to keep the shares for once bought?

Also found a site that charges £7.50 per trade to sell. Do you pay anything else on the differences??

If I had gone with my instincts yesterday, I would of made over £150 today already!! Seriously need to look into this!

Help please

[Jimbo]

http://www.hoodlessbrennan.com/ are possibly the cheapest option for day traders at £6.50 per trade, but to be honest you aren't going to make your fortune, and quite possibly lose your investment if you start to mess about as a day trader. The markets are very volatile at the moment and if you jump in or out at the wrong time you will lose a lot of money.

With shares you really need to be taking a long term view, unless you have the tools that the big boys have availble to you - Reuters or Bloomberg.

[Rovermatt]

No Jim people on here tend to post on threads regarding rabbits or the comparative hardness of geese and foxes ( yet I’m told I am strange for wishing to discuss current affairs) rather than the fundamental issues at hand. Mind you ,weren’t you one of those that lobbied the mods for the closure of the most stimulating debates?

No wonder you can't get anyone to response to your posts; when you have helped develop a culture where people are frightened of expressing there true opinions for fear of censure or bans.

The topics banned were those relating to religion, race and immigration. This was explained clearly at the time, yet STILL you are trotting out this line. These were hugely divisive threads that caused no little friction on the board. Things are a lot more civilised now that such things have been taken off the agenda. These are not the only topics constituting 'current affairs' though you continue, by design or not, to miss this point. I don't recall anyone 'lobbying' for such threads to be closed, rather the mods took the initiative and even explained the reasoning again and again and again.

[Rovermatt]

The firm I work for had to lay off 5 people recently, including two solicitors (both of whom were conveyancers). The downturn in the conveyancing market - bread and butter, and cashflow, for any high street law firm - got the partners very twitcy and they took immediate action to protect the payments on their Porsche's, race horses and holiday villas. The banks were simply not lending (though they are loosening their purse strings a bit now) and thus people were unable to buy property, slowing the work flowing into the legal profession. This isn't something you hear much about on the news but I can assure it's a real problem.

[Hughesy]

http://www.hoodlessbrennan.com/ are possibly the cheapest option for day traders at £6.50 per trade, but to be honest you aren't going to make your fortune, and quite possibly lose your investment if you start to mess about as a day trader. The markets are very volatile at the moment and if you jump in or out at the wrong time you will lose a lot of money.

With shares you really need to be taking a long term view, unless you have the tools that the big boys have availble to you - Reuters or Bloomberg.

Thanks for that mate. I found a few that do trades from £6.50 - £11.00.

When you say tools, do you mean the finance news channels? Im thinking banking shares are quite safe investments at the moment, they are very low and surely the only way soon is up! Maybe not quite yet, but soon! Im thinkning more around Feb/ Mar time.

If id of gone with my hunch yesterday then id of made myself £150 today on an investment of just £1000. Kicking myself now! Iv picked a few that im going to start analysing and monitoring performance.

[broadsword]

Be careful.

Does writing SQL queries pay that much these days that you can afford to spunk a grand away on shares?

[Hughesy]

It doesnt pay bad mate, but that isnt my only source of income. I dont obviously want to waste a grand, i want to invest it and make it grow. Its sat there in a bank doing nothing so why not!

[American]

Thanks for that mate. I found a few that do trades from £6.50 - £11.00.

When you say tools, do you mean the finance news channels? Im thinking banking shares are quite safe investments at the moment, they are very low and surely the only way soon is up! Maybe not quite yet, but soon! Im thinkning more around Feb/ Mar time.

If id of gone with my hunch yesterday then id of made myself £150 today on an investment of just £1000. Kicking myself now! Iv picked a few that im going to start analysing and monitoring performance.

No different than going to the bookies. We all have streaks where things go well and others where they don't. The key is keeping an eye on several stocks and buying when you think they are at a low and bound to go up. Short-term gains are fun, but people who sell for the quick gain tend to hold on too long hoping for a bounceback when things start to go down.

[Hughesy]

Anyone on here trade in shares alot?