Someone who lies about the little things will lie about the big things too.
I think Raffe was trying to highlight the absurdity/stupidity of what's being spun as official narrative cf reality...just a guess...It's really not looking rosy, another thing we could have in common with Russia in addition to the world losing economic performance, this business of potentially quitting the ECHR..I'll say no more out of respect for place but by god we're practically in freefall across the board it seems like.
Last edited by Passenger; 16th June 2022 at 09:30.
Someone who lies about the little things will lie about the big things too.
I'm sure the global economic crisis, inflation, production, fuel, food, transportation, logistics, energy etc has nothing to do with past 2 years of global Lockdowns!
Must just be coincidence, but whatever it is, it ain't looking rosey.
AMC MOASS - who knows? but £50 to the fundraiser is always worth it.
We printed free money for 12 years. Someone has to pay it back
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Someone who lies about the little things will lie about the big things too.
This from the BOE website
It would sound great presented by "Johnny Ball" for those old enough to remember him
Why do we use quantitative easing?
It’s our job to keep the prices of things you buy low and stable, as this helps to support people’s jobs and incomes.
Rising prices is called inflation and the UK government has set us an inflation target.
To keep inflation on target we usually change a key interest rate in the economy (called Bank Rate). Changes in Bank Rate feed through to how much interest you get on savings, and how much interest you pay on a loan. That affects the amount of spending in the economy and so helps inflation to either fall or rise.
But things changed during the Global Financial Crisis that began in 2008. At that time, we quickly reduced Bank Rate from 5% to 0.5% to help the UK economy recover.
========================
How much quantitative easing have we done in the UK?
We began buying bonds through QE in March 2009 as a response to the Global Financial Crisis. Between 2009 and 2021, we bought £895 billion worth of bonds through QE. We used most of that sum (£875 billion) to buy UK government bonds.
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2.8 Trillion in debt 3 trillion in sight and 82 billion PA interest #Winning !
Last edited by TKH; 16th June 2022 at 12:37.
What spooked the FTSE today? I thought with only a 0.25% rate increase it would take off.
I know today is the ex-dividend date for FTSE ETF, so could imagine a little selling pressure, but not that much.
Doing a bit of a Raffe.
£20k of FTSE ETF sold at 7450 three weeks ago, just bought back at 7095.
Will sell if it bounces again as still think things will get worse before they get better.
I think they are following the line of MMT. Modern Monetary Theory. So no one pays it back.
I believe they think they can control the inflation that’s it creates by taxation.
They pump the money in to create full employment then tax it out to manage inflation.
I think that’s the general gist of it.
Bought some smallish positions in AMZN, GOOG and MSFT. Already own some TWTR, that'll do on the long side for time being.
Short I got plenty of TSLA, cash and options. Keep selling into rallies.
Someone who lies about the little things will lie about the big things too.
More on mining naked whilst the seam dries up - https://blockworks.co/crashing-price...n-to-leverage/
They can't say you didn't try and warn them.
I'm reading more and more investors talking about disinflation (deflation) coming soon which will cause the FED to reverse its current rate hiking trajectory. Apparently US CPI data released on the 13th July will see inflation markedly below the 8.6% it was in June. Michael Burry is once such exponent of this theory - talking about imminent deflationary pulses from what is known as the 'Bullwhip' effect and that a lot of retailers will be sitting on far too much stock given the fact that economic data is going to be pretty miserable and consequently they will need to discount heavily in order to sell this stock.
P.S. I didn't learn this from Reddit in case anyone deigns to ask ;)
Does anyone have a link to the bets made with Raffe. Pretty sure I've lost by miles and need to stick £50 into the FR but wanted to check what the bet was (S&P I think).
One day Raffe we will all be winners, but always a pleasure to give to a worthy cause.
Post your biggest stock pick failure.
Cineworld is down a juicy -48.96% since I bought it 4 months ago. Is nobody going back to the cinema after the great reopening?
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Ouch.
Someone who lies about the little things will lie about the big things too.
Someone who lies about the little things will lie about the big things too.
I was just a smudge shy of winning my bet.
Argo is about 30p today, so only needs a 10X to win.
Near miss.
Just sent my £50 Argo bet to the FR.
Congratulations Raffe.
We could do another bet if you like? That my SIPP goes to zero before Argo or MSTR do.
I think there’s a high likelihood that I’ll win that bet. I’m already a good way into turning my big fortune into a very small one.
Honestly, my 2 years of stock picking really has reenforced how the average retail ‘investor’ like me is far far better off taking the slow and steady passive investing route.
I did that for 26 years and built up a very nice retirement pot, then destroyed it in 12-18 months when covid hit.
I thought I’d nailed it when I sold it all out to cash in mid March 2020 after a 10% drop and watched it all drop a further 10%. But then I sat in cash and watched the V shaped recovery happen and then bought into some highly volatile stocks and funds near the top.
I’ve learned a lot about investing, I didn’t know a candle chart from a Fib retracement back then…..it’s just a shame I learned these lessons with my entire pension and savings funds rather than with a little bit of play cash.
Oh well. There are more important things in life than money. Like Bitcoin!
Sorry for your losses. My tinkering has had variable success but since that has mostly been between passive funds and trusts with the odd active fund things are ok overall.
I am sorry to read that mr noble. Not that it helps, you are one of a considerable number. Now please don’t chase your losses.
Mine is genuinely miniscule as I started my pension fairly late and I'm still waiting for a transfer from an old work pension.
I chose mine at random based on zero logic or intelligence, just what sounded good on the list at the time, but they seem to be doing ok. I think I opened it about 18 months ago.
I do not see how it is possible to not make money in this market, but I suppose it depends on how you trade. I actively trade and don't long term hold anything. Just like Rafflepuffs above.
EasyJet share price now 10% below the absolute lowest price during the Covid, when not a single plane was flying.
IAG at ATLs, and the same price as Oct 2020 when Covid was rampant. About 75% down since pre-Covid.
Maybe worth a punt if you believe the falling knife has hit the floor.
You know what they say; when there is blood on the streets………
But seriously, if you are holding for 10 years, gotta be of interest