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Coronavirus

JerusalemMan said:
Crazy to think that people would 'struggle' to live on £2500/month.
They easily could, but perhaps a re-evaluation of lifestyle would be in order.
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A large part of the world is leveraged up mate, incredible level of want rather than need, all in the name of making your life 'better', just pile it on, on the never never, gotta keep on working, to keep on having, and keep that economic ideology rolling.
 
ricky2tricky4city said:
A large part of the world is leveraged up mate, incredible level of want rather than need, all in the name of making your life 'better', just pile it on, on the never never, gotta keep on working, to keep on having, and keep that economic ideology rolling.
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Alternatively, in some parts of the country a mortgage on a modest family home would take up most of that £2.5k after tax
 
JerusalemMan said:
Crazy to think that people would 'struggle' to live on £2500/month.
They easily could, but perhaps a re-evaluation of lifestyle would be in order.
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If your cloth is already cut to living on more than that, then it's not so easy.
The £2500 furlough payment is taxable. So it's actually c. £2000. Live in or around London/home counties and rent/mortgage could take a significant chunk of that. Add council tax, household bills, feeding yourself and family, and it soon whittles away.
Yes of course people do manage to live on less, but to do so isn't necessarily easy.
 
So a 14 down lock down for incoming arrivals Into the UK

So depending on what happens with out borders and others this is potentially bad news for customers if they have flights booked as they would no longer be able to claim a refund as if the flight is going the airline can simply say tough, it’s your choice.

Need to see more details of course.
 
Robspur12 said:
I am still struggling to understand why there isn't enough resilience in the British economy to survive 12 weeks of slowdown. I get it is hard to sustain for many months but it's not even been 12 weeks and it's like we are on the brink of collapse? Especially with the government propping up many business sectors and other businesses changing their operations to adapt to the change. Is it because there is so much debt in the economy?
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I'm sure that's a significant part of it. Brought about by the familiar story of piling it up when times were (relatively) good, rather than doing the opposite.
 
ricky2tricky4city said:
Yep and that's part of the problem.

Unlimited leverage....stupidly.inflated asset prices equals

'how am I meant to live on that':rolleyes:
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ricky2tricky4city said:
Yep and that's part of the problem.

Unlimited leverage....stupidly.inflated asset prices equals

'how am I meant to live on that':rolleyes:
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I'm not sure the issue is how leveraged we are when it comes to asset backed instruments like mortgages. The inflation there is more down to low interest rates than leverage.
 
Legohamster said:
So a 14 down lock down for incoming arrivals Into the UK

So depending on what happens with out borders and others this is potentially bad news for customers if they have flights booked as they would no longer be able to claim a refund as if the flight is going the airline can simply say tough, it’s your choice.

Need to see more details of course.
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Seems madness doesn't it? Other countries introduced this back when they started their lockdowns and are now relaxing the border checks and quarantine requirements, while the UK allows a billion flights and cars into the country unchecked for 6+ weeks then introduces it!
 
thfcsteff said:
There are so many potential factors. Let's broaden the "vulnerable" to embrace anyone who smokes and anyone who drinks more than four units a week.
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There would be more deaths shown in the "no underlining conditions" column if that was true because they don't include smoking as a condition or drinking 4 units on their current list.
 
dingdongo said:
Seems madness doesn't it? Other countries introduced this back when they started their lockdowns and are now relaxing the border checks and quarantine requirements, while the UK allows a billion flights and cars into the country unchecked for 6+ weeks then introduces it!
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Where's doing that? I've seen specific news reports on Italy, Australia and New Zealand that all suggested these sorts of measures would be fundamental to their efforts going forward.
 
I know from family that Poland had a strict quarantine for a long while but is now letting some groups in and out that meet certain criteria, like coming for work, having a valid reason etc. Not a free for all just yet but I know it's starting to make it easier, and the queues have gone at the borders.
 
scaramanga said:
I'm not sure the issue is how leveraged we are when it comes to asset backed instruments like mortgages. The inflation there is more down to low interest rates than leverage.
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The inflation comes initially from leveraged capital loans with little regard to the loanee income profile (could leveraged up 10/15/20 X if you wanted) and then supplemented by life support (artificially) low interest rates, that others in better positions have taken advantage of to keep that inflation ticking along.

All to give people what they 'want' , when even interest rates at 5% will give a sea of people what they don't want.
 
scaramanga said:
I'm not sure the issue is how leveraged we are when it comes to asset backed instruments like mortgages. The inflation there is more down to low interest rates than leverage.
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I think both played a significant part, though I have no idea in what proportions. But certainly, LTV and income multiple increases ran alongside a lot of the house price inflation pre-financial crisis. I don't know what the current situations are, but I'd be surprised if either of those things got checked to any major extent.
 
dingdongo said:
Seems madness doesn't it? Other countries introduced this back when they started their lockdowns and are now relaxing the border checks and quarantine requirements, while the UK allows a billion flights and cars into the country unchecked for 6+ weeks then introduces it!
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Airfrance/KLM are doing temp checks and mask wearings.

If we wanted to lockdown, as you said should have been 6 weeks ago- not now.

We should be opening up, not cracking down.
 
ricky2tricky4city said:
The inflation comes initially from leveraged capital loans with little regard to the loanee income profile (could leveraged up 10/15/20 X if you wanted) and then supplemented by life support (artificially) low interest rates, that others in better positions have taken advantage of to keep that inflation ticking along.

All to give people what they 'want' , when even interest rates at 5% will give a sea of people what they don't want.
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I think we're talking about different things entirely.

I was talking about mortgages, where living in or around London requires a mortgage too expensive for the CJRS. In terms of debt to own things like watches, handbags, etc I agree.
 
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