Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
Mick / James ,
One of Eisenhowers , versatile in analogy .
"Well, it is very important, and the great idea of setting up an organism is so as to defeat the domino result. When, each standing alone, one falls, it has the effect on the next, and finally the whole row is down. You are trying, through a unifying influence, to build that row of dominoes so they can stand the fall of one, if necessary."
The President's News Conference of 5/12/54 Audio clip
https://www.eisenhowerlibrary.gov/eisenhowers/quotes
None of us should have been surprised at crude @ these prices .
https://www.bbc.co.uk/news/business-50681159
Saudi Aramco 1.5% sale , purely taken up by locals . The West should perceive it as a 1 month bridging loan . The war with Yemen will become unfinanceable , hence peace . Countless burnt fingers in ME . Hopefully a long term status quo in that God forsaken land . Hard to believe c 100 yrs since TE Lawrence wrote his 7 pillars of wisdom and told us all "this land isn't worth the life of a single Englishman ", lack of Finances will finally bring peace .
Roll on renewables !
Earth,
"Banks are expected to use their liquidity buffers in doing so, even if it means liquidity coverage ratios (LCR) go significantly below 100%,” the PRA said in guidance to lenders."
Exactly , Divs will be used to replenish bank liquidity when this mess is over , now is not the time to buy lloy .Dow still has 33% to fall .
Darth,
I don't know what age you are , but as a young teenager I recall everything being made in Japan , they even made a song about it . The Japanese took out 75 yr mortgages over 3 generations thinking the good times would last forever . Their debt to GDP approaching ~280% and no value appreciation in those property valuations .
The same is occurring in China now , mega inflated property prices , worse than ours , financed on debt . Asset price correction occurring as we speak , Chinese bank liquidity coming to the fore , so who is going to finance foreign purchases ? Specially when sound businesses suddenly become high risk in the West .
History has a habit of repeating itself
Darth,
"hmmm, it's thinks to China that we the Markets had a 11yr Bull run..."
Assume the above was addressed to me . Judging by the above statement , wealth wasn't created in the West , hence the distortion in Financial gauges with knockon distress consequences .
Theo,
Wrong bud ,
"Thanks for the link.. They don't miss a trick... Next thing buying up cheap UK businesses"
China debt to GDP ~270% , capital preservation will be their #1 priority , specially if we all start boycotting their goods . They will have a Dollar liquidity crisis . It will be interesting to see what Apple do with their Chinese production , that should be a gauge .
Motbuck,
As I have been pointing out over the last 2 yrs , our housing market is well overvalued . If Barc underwrites my portfolio @ 8% yield and houses sell for 5% yield there is a big disparity , logic dictates a correction has to occur somewhere in time . Our Gov created this anomaly with help to buy , they distorted free market forces and hence inflated property prices . We are now told house prices have dropped 3.5% in the last 2 months , how much further to drop during this mess ? Lloy has the most exposure to this market , a drop of 10% and countless youngsters starting off don't have any equity , we've been here before , CET will be compromised and lloy plus other FI will be forced to conserve liquidity , postponing Div . How long is a guessing game .
Permian Basin sat on $1.3 Tn of junk bonds at present WTI price , will cause a domino effect across US . It will be interesting to see if FED takes them under their umbrella , if they do , we then know they've lost the plot , they're distorting the market again , more debt , further taxpayer problems .
ERV , OXO , some great posts this morning , no child should pass away before their parents . God bless you both !!
Console yourselves , Globally we have QE to infinity , for 2 generations they might manage to keep financial system afloat , and when law of diminishing returns becomes non existent , our offsprings are knackered .
Teach them to hold on to physical assets , property and PM .
Lloy CET is going to be affected by cv19 , by how much will dictate how long Div postponed .
Keep well all !!
Very interesting read.
"It was to be thousands of years before medical immunity was properly understood, but the historian implies that historical hindsight can itself be a kind of vaccine. History need not simply recall the horrors of the past. It can guide us towards adopting precautions, remind us that accurate observation is vital to ensure a better response in future, and reassure us that normal life will one day return."
https://www.bbc.co.uk/news/uk-52236388
NIRP will ensure the days of 63p are a generation away . HTF G Osborne sold Billions of pounds worth of lloy to pension funds in 60's , when on a peak , we'll find out in due course , similar to Browns sale of our Gold . Some folk should know better !!
It's beyond humorous what they've done to the populace .
Why MPC only dropped base to .1% .
"A negative interest rate means banks would pay a small amount of money each month to park some of their money at the Fed – a reversal of how a bank typically works. ... Currently, banks earn a small amount in interest by leaving cash at the Fed.12 Sep 2019"
https://www.usatoday.com/story/money/2019/09/12/interest-rates-what-zero-negative-rates-would-mean-you/2293676001/
There is no need for stagflation in U.K. If we acknowledge CB will now buy Sovereign debt , the interest payments will go to CB rather than pension funds etc . The burden on taxpayers is still there .
Correct my observations please , Gilts yielding .5% are costing us ~£40 BN pa . Gilts yielding -1% will cost our Exchequer ~£80 BN , differential is a further burden on our Exchequer and hence on us taxpayers .
With all the strife in the EU , disunity , leading to possible dissolvancy , our leaders should remain on the ball with a willingness to write off a proportion of our ND to maintain a competitive edge where 47% of our exports go to . It is acknowledged currency manipulation is acceptable , yet unethical . About time we started playing dirty .
Frederick Forsyth puts a case forward , despite being +80 yrs , on an option for the way forward out of our predicament .
https://www.express.co.uk/comment/columnists/frederick-forsyth/1264336/coronavirus-latest-UK-death-toll-boris-johnson
James,
A business that doesn't grow is classed as dead . But to buy mbna for c£1.9 BN , 9% of lloy present value in exchange for an extra £650m of income is foolhardy in the extreme . My point standing , you don't buy on a peak . BOD must have been oblivious to Economic cycles again !