To be honest we have been heading this way for a number of years. The catalyst for panick was the down turn in USA catalyst debt.
Lets start with basics.
We can not trust any bank or company that there earnings are true.
Out of all the car manufactures its only 4 of them who actually a profit, this has been knowledge for years, why the sudden surprise that they need a bail out ?
Yes we are in trouble, big big trouble on a scale never seen before.
What banks have loosed on the subprime is peanuts to what they will loose when there maritages become challanged under new legislation.
it has been estimated that 50% of loan agreements/mortages are un enforceable
Im glad I have suffered 3-4 years with no - little money in the early days in this business, as now through trading income is not a problem and never will be.
But this is not about me, my friend is a fireman and the fire service is making cut backs, closing down stations, some police stations have closed, every morning we here of schools not opening because of some silly reason.
Red tape, drastick cut backs in spending ect.
Tens of thousands have loosed there jobs, some were bringing home just £1500 per month. These people now get council tax and maritage interest paid on there properties, free nhs care, dentist, proscriptions, there kids get free school meals a family with a 100k maritage all that will equate to roughly £500 per month. That family if two children was living there under 16 would receive £225 per week or £950 per month in DHSS benefits, add this to free maritage, council tax and not paying for transport to and from work they are no worse of through not working.
Ok these are the minority.
Will these be looking for work ? after all they have ben through ? you decide.
I have children and are concerned what jobs will be for them when they finish education.
My daughter has considered going in to teaching like her cousin, this weekend I mentioned she will be earning £20k when she qualifies at the age of 21yrs. Then she lashed out and asked me to work some simple maths, the 3 yrs cost of studying/Uno will have amounted to £20k+ of student debt ( she had a part time job too ) so next to no earnings until she is 21. The she has to repay the student loan, this will take until she is 25 yrs if she repays £100 pi. |Given that 50% of new teachers leave the profession in the first 5 yrs things are not looking good there either.
So what am I going on about / what has this got to do with the goverment ?
This is lawless britain, where hoodies and thieves rule the streets, when they are not ripping us of its out banks then its the utility companies and if we have got any cash left the tax man will then finally take your last penny.
The stock market has had its day for long term investments, short term trading is here to stay and this will become more profitable than longer term investment.
500K+ have retired from work over the past 18 months, most of those have persevered and invested in pensions, unfortunately this has not turned out fruitfully. The money they thought they would have has has dwindled, resulting in further cut backs in spending.
We currently see the majority of old age pensioners living well, this is due to the final salary pension scheme they were in,what we are seeing now with that generation will never be seen again in our life time due to the current state of the economy and global economy.
These are still good business out there, trading is one if your lucky enough to make it, Opticians is another good business too, all of the children ahead 5-14 now will require an optation in the next 10 years as vidi gaming has taken of so has computer access and these will access have a negative affect on our eyes.
Well if you workd at a supermerket your job would be safe ehh ? whilest out jogging I bumped into a niebour as I asked why she not working today, she works at ASDA , she informed me that due to lack of custermers they are sending people home, this is shocking news ! Its ever worse that I thought.
May I apologize for any spelling mistakes, ever though i have problems with my spelling I feel other skills and wisdom make up for this.
Please dont remove me from this site due to spelling error's.
Here is some thing on trading ,
We have come through January with no gains, this is 28th of January look out for gains i the Index's in the last days of this month, add to these gains as the start of Febuary should continue to see upside movements.
Max 5% upside......
Good luck with trading everyone, keep thoughs limmit orders open with the stops just behind them.
TOMTOM
