stock market crash

[scooterscot]

SS please for your own sake, get out of the permabear mentality and open your mind up to the wider macro-economic environment. Don't focus only on coins, but have them as a small % of your investment portfolio.

I have been badly burned in the past by sticking to permabear views. It was the worst time of my life.

Interest rates WILL NOT get to 5% any time soon, possibly not even within my lifetime (I don't know how old you are). PPI numbers out of the US today in fact indicate a more likely spiral into deflation.

A 0.25% rate hike equates to all of £20/month or so on a repayment mortgage. Hardly going to shake the foundations is it.

Yes, house prices might fall, but so what. Every other asset class is falling. Cash in the bank might be safest to some extent, or physical gold. But beyond that I would rather have a property asset that will still be around long after I'm gone. Shares are a risk and yes might be worthless if the companies go bust. Coins on the other hand are a complete 100% gamble, hence why you should only have a small %.

Permabear? We've been permabull for the last 20 years! Almost like it's impossible to lose. Of course I'm bear. Bear for 2-3 years yet.

Many people would rather have a property, unfortunately a great many of them can't afford the property they're living in.

[jamesbrown]

FTSE 100 down 9%

[BlueSharp]

wall street suspended!

[scooterscot]

The government yesterday banked on interest rates not going up anywhere near historical averages for decades now national debt heads way beyond £2 trillion.

The United Kingdom National Debt Clock 2020 Counter >> nationaldebtclock.co.uk

The thing that may cause house prices to collapse in the near future is job losses on the back of companies folding over the global recession the virus is bringing. All those zombie companies surviving on debt with meagre cash-flow are soon going to be let go under. Though with the magic money tree in full bloom don't rule out central bank printing a debt jubilee. They sure ain't going to be putting interest rates up to 5% and beyond and saving the savers. There will be a new national digital currency before then.

That's my prediction.

I told you all the stock market was going to crash 2 year ago. Called it, got it.

I'm telling you the housing market is next. Why? Because you don't pay a mortgage (which you think is cheap today) when down the road ( 2-3 year from now) there is a bigger nicer property for 40% less, and even costs less per month to service. People just don't get it. Been alive long enough to see this happen twice over, and folks are waking into the same situation with a massive amount of hubris.

[jamesbrown]

All asset prices to the inverse of the moon!

[DimPrawn]

My net worth has been hammered, but if I find 50p down the back of the sofa, it won't be so bad.

[scooterscot]

You were warned.

[BlueSharp]

You were warned.

I sold out what I bought for a small profit earlier this week! How's is the Ethereum bet going? I had 10% still in equity that has been absolutely hammered but I'm 30 years off retirement so will hold that for a very long time.

[Platypus]

wall street suspended!

again?

[jamesbrown]

I'm feeling much better about my 50% loss on Woodford now. Went tits up at the perfect time!