Lloyds Banking Share Discussion Threads

[patientcapital] 25/11/2020 09:16

Only seems fair. Frankfurters are pretty revolting anyway.

[scruff1] 25/11/2020 09:07

graham
read it at the time. Sumption is one ofthe country's most astute brains ( I have a barrister friend who knows him and admires him greatly). People would do well to read his words

[scruff1] 25/11/2020 09:07

graham
read it at the time. Sumption is one ofthe country's most astute brains ( I have a barrister friend who knows him and admires him greatly). People would do well to read his words

[geckotheglorious] 25/11/2020 09:06

Ivan Pentchoukov.
“DEMOCRAT Affidavits Detailing Significant Problems In Georgia Recount
Even Democrat poll watchers dislike the fraud they have seen taking place!

Courtlistener.com/docket/1863278

100's of mailed ballots with no creases, no folds,and all pe4rfectly marked..

Nope,no fraud here.

All for Biden!!!!

Nope no fraud here at all!

[geckotheglorious] 25/11/2020 09:06

Quite remarkable indeed.


Five Ways Joe Biden "Blew Our Minds" On Election Night

[gaffer73] 25/11/2020 09:01

Managed to sell a few this morning and buy back for a few extra. A return above 40p now please.

[scruff1] 25/11/2020 08:54

Always had my doubts about that widespread theory

[pinemartin9] 25/11/2020 08:44

MMs could be trying to spook people into selling a few. A small drop off to flush a few sellers out to allow them to sell them to the large institutions topping up.

[xxxxxy] 25/11/2020 08:42

State debt and money printing
By JOHNREDWOOD | Published: NOVEMBER 25, 2020
Time was when I and many other economic commentators would have rightly warned that a country cannot take on too much debt as it has to pay the interest and pay it back one day. It needs to live within its means. I would also have confirmed that any attempt to simply print more money to spend in the public sector or to use to buy up the debt would lead to high inflation, and would come to create a deep recession as hyper inflation undermines normal activity.

There are plenty of examples from history and current economies to show what goes wrong if a government tries to borrow and print its way out of economic troubles. Call it the Weimar model, from 1920s Germany, or the Zimbabwe model from that country in the first decade of this century. Or call it the Venezuela model, still living through the disastrous consequences of borrowing and spending too much in the public sector and trying to print its way out of the debts. A government that prided itself on generous handouts to the poor ended up leaving the poor hungry and roaming supermarkets with little food. Hyperinflation set in. That clears the shelves of goods, drives imports sky high in price as the currency plunges, and undermines investment and business. Venezuela, the country with the world’s largest oil reserves has been unable to pump much oil, as the oil wells go without maintenance and the transport fails.

But today I need to report that the Euro area, the USA and the UK have embarked this year on a major programme of expanding state debt, and their Central banks have printed a large amount of new money, politely called Quantitative easing. Indeed, to save the world economy the Fed created an extra $3trillion this spring. We should be grateful, as it was needed.

I will call this the Japanese model. For 30 years now since her huge credit crunch and asset price crash, Japan has followed a policy of greatly expanding its public debt, and buying in large quantities of it with money created by its Central Bank. State debt in Japan is now around a remarkable 250% of GDP. It stands at 1,328,000,000,000,000 yen. Despite this Japan suffers from practically no inflation, output is fairly stable, investment continues and the currency is behaving well against others.

So far the actions taken by the USA, UK and the Euro area during the pandemic have shown that we can at least temporarily follow the Japanese model. We should not ,however, assume we will be able to do this indefinitely or will need to do what Japan has done for some 30 years. We cannot assume our economies will remain immune to inflation, that our currencies will remain relatively stable against others, were we to persevere with too much debt and too much money printing.

It has been possible to do it so far because the anti CV19 measures were such a big hit to demand and incomes, that it needed an equally large offset from borrowing more and creating more money. There was no shortage of goods for the money to buy, apart from a few specials like PPE which duly shot up in price. The UK has decided it can afford to expand state debt above 100% of GDP, and has set out on a course of creating an additional £450 billion of new money, on top of the £445bn of QE money inherited from previous governments and the banking crisis. This should be fine, and gives the UK a crucial breathing space to make the unusual and large expenditures caused by the CV 19 response.In effect this newly created money will pay for the excessive one off costs of the pandemic policies. It would be best to assume that as we recover we need to bring the special measures to a well timed end. Too fast and we are back to recession. Too slow and we are on to inflation.

The UK state through the Bank of England will own well over 40% of the large state debt it is building up. The Treasury pays interest to the Bank and the Bank sends it back as a dividend to its government owner. This is why I am less concerned than many about the level of debt. This view is reinforced by the way so far the UK can borrow large sums at near zero interest, removing the normal pressures and constraints on borrowing more.

Confidence remains a precious flower. The government must seek value in all this extra spending, and have plans to get back to something more normal in good time. The Japan model works for Japan, but Japan usually has a balance of payments surplus, an ageing population with a savings habit and years of experience of no price rises. The US and UK with large trade deficits and a history of more inflation are only temporarily able to follow the Japanese model.

[scruff1] 25/11/2020 08:31

Thats my comment for the day to keep crazi happy

[scruff1] 25/11/2020 08:28

Most of mine have just turned red after a promising start. The algos after hours I think tend to give the pattern at the start but I guess maybe the expected sell off has started - either that or something has turned the optimism.

[pinemartin9] 25/11/2020 08:14

Yes, Best not too look. Honestly don't know what's going to happen with the markets? At some point something will spook them and we will see a sell off. Got to happen after big recent gains in banking, energy stocks and tech. But when/what will happen?

[mikemichael2] 25/11/2020 08:12

Not for long!! about to go red.

[pinemartin9] 25/11/2020 08:12

Yes, nice to see a 4 in front.

[netcurtains] 25/11/2020 08:05

Surely not as interesting as "Game of Thornes"?

[our haven] 25/11/2020 08:04

If it holds over 40p could get very interesting

[maxk] 25/11/2020 08:01

From brat to wurst: Britain in EU sausage war


Oliver Wright, Policy Editor
Wednesday November 25 2020, 12.01am, The Times



There have been cod wars and scallop wars but never a sausage war — until now. Brexit negotiators are engaged in a stand-off over the future of the banger as the prospect grows of a trade ban at the end of the year.

The dispute could result in Irish sausages being taken off British supermarket shelves and German bratwurst being turned back at Calais.

It has also led to the delicious irony of British trade negotiators telling Brussels that they intend to use the EU’s own rules to exact revenge on European producers.

[portside1] 25/11/2020 08:01

There she goes over 40

[berber1] 25/11/2020 00:19

the housing market is the only thing keeping the UK economy afloat. So I think you may have to wait longer than you think. may be a small healthy correction (a blip). Builders and entrepreneurs buying houses modernizing them and selling them for a profit. This process is really on fire this past few years. Builders were to some extent were allowed to go on with minimal covid 19 restrictions. Just look around your neighborhood.
I am afraid housing market will go on for a bit longer for now.

[tradejunkie2] 24/11/2020 23:21

K38, i would tax you 90%

[grahamite2] 24/11/2020 22:39

This is what Lord Sumption was talking about:



It's long, 14 pages, but gives chapter and verse on how the government is abusing its powers and falling into absolutism.

To judge from some of the weird posts here tonight, there's a few of us who would do well to read it.

[k38] 24/11/2020 22:33

I agree, anything above 100 million personal fortune must be taxed 75%The world would be a better place. ...but again, setting max and limits are very difficult to agree..

[alphorn] 24/11/2020 22:28

#384. We should get some tomorrow. Serious stuff if we don't.