A large portion of mortgages are adjustable rates. They start adjusting to the new higher rates in January 2023.
— Wall Street Silver (@WallStreetSilv) October 6, 2022
We will see mortgage payments exceeding 50% of income for many UK home owners in 2023. Adding in high energy bills, this soon equals a huge wave of mortgage defaults. pic.twitter.com/luKkHu3wWe
Yes, this is BS fear mongering.twk said:
My understanding is that there are very few fixed rate mortgages in the UK.
It won't be worth much at all if it's over-run by islamic/african hordes. Charles Martell ain't walking across those beaches.The Green Dragon said:
Wonder how much silver a place on the French Coast will cost in 2024 after Europe's economic collapse.
Hubris is a mother ****er
Around 74% of them are fixed rate. However many of those are 5 and 2 year notes which are coming due, so the effect will still be felt.twk said:
My understanding is that there are very few fixed rate mortgages in the UK.
9/27/22Quote:
. . .
UK Finance said that about 74% of homeowner mortgages were currently on a fixed rate. However, there are reportedly 1.5 million fixed-rate mortgage deals which are due to expire this year, with another 1.5 million due to do so in 2023.
. . .
Quote:
. . .
About a fifth of households are on a variable rate either a tracker mortgage, where the rate you pay is explicitly linked to the Bank base rate, or their lender's standard variable rate (SVR).
. . .
This is wild to me. I had no idea that's how they ran mortgages in the UK. It's all the more weird to me because people there don't move around like they do in the USA. You would think people who actually own a home would be pretty locked in on long-term mortgages, but I guess if the lenders haven't offered that type of product....Faustus said:Around 74% of them are fixed rate. However many of those are 5 and 2 year notes which are coming due, so the effect will still be felt.twk said:
My understanding is that there are very few fixed rate mortgages in the UK.
5/12/22
https://www.mpamag.com/uk/mortgage-industry/market-trends/uk-housing-crisis-whats-fuelling-the-issue/4056889/27/22Quote:
. . .
UK Finance said that about 74% of homeowner mortgages were currently on a fixed rate. However, there are reportedly 1.5 million fixed-rate mortgage deals which are due to expire this year, with another 1.5 million due to do so in 2023.
. . .
https://www.theguardian.com/money/2022/sep/27/uk-mortgage-deal-banks-building-societies-interest-rate-risesQuote:
. . .
About a fifth of households are on a variable rate either a tracker mortgage, where the rate you pay is explicitly linked to the Bank base rate, or their lender's standard variable rate (SVR).
. . .
Police in France are now checking your fuel tank before they allow you access to petrol stations… if you have too much in your tank, you are turned away.
— Wall Street Silver (@WallStreetSilv) October 10, 2022
Shortages in France are forcing people to wait in lines for hours to get only a partial refill of fuel.
🔊sound 🚨#France pic.twitter.com/hPDu2w1fXe
Note: These shortages are due to strikes at refineries in France.will25u said:Police in France are now checking your fuel tank before they allow you access to petrol stations… if you have too much in your tank, you are turned away.
— Wall Street Silver (@WallStreetSilv) October 10, 2022
Shortages in France are forcing people to wait in lines for hours to get only a partial refill of fuel.
🔊sound 🚨#France pic.twitter.com/hPDu2w1fXe
Que Te Gusta Mas said:
OofA large portion of mortgages are adjustable rates. They start adjusting to the new higher rates in January 2023.
— Wall Street Silver (@WallStreetSilv) October 6, 2022
We will see mortgage payments exceeding 50% of income for many UK home owners in 2023. Adding in high energy bills, this soon equals a huge wave of mortgage defaults. pic.twitter.com/luKkHu3wWe
Look at Australia. Goodness. No wonder they so easily succumbed to being oppressed slaves during COVID.BAP Enthusiast said:Que Te Gusta Mas said:
OofA large portion of mortgages are adjustable rates. They start adjusting to the new higher rates in January 2023.
— Wall Street Silver (@WallStreetSilv) October 6, 2022
We will see mortgage payments exceeding 50% of income for many UK home owners in 2023. Adding in high energy bills, this soon equals a huge wave of mortgage defaults. pic.twitter.com/luKkHu3wWe
Holy hell no wonder why the rest of the world is in the gutter. I am increasingly convinced the US is the only country on the planet that actually tries to follow private property laws despite us having to pay property taxes where we essentially lease the land from the government.
Tensions are increasing in France as the fuel crisis continues… fights are breaking out at petrol stations… police cars running out of petrol… huge lines…
— Wall Street Silver (@WallStreetSilv) October 11, 2022
Cars in some districts now limited to fill max 30 liters (8 gallons) and trucks 120 (32 gallons)…
🔊sound😰#France pic.twitter.com/CFUKpbhhBt
Quote:
Funding Panic Imminent? Fed Quietly Sends $3.1 Billion To Switzerland Via Swap Line
BofA Chief Investment Strategist Michael Hartnett has a favorite markets phrase that may be the only one a trader in this day and age needs: "Markets stop panicking when central banks start panicking."
Well, in what may be the best news to shellshocked bulls after the worst September and worst Q3 in generations, in a harrowing year for markets, central banks are starting to panic. First it was the BOJ, then the BOE and now, it's Switzerland's turn.
Two weeks ago after the (first) panicked pivot by the BOE, when global markets were in freefall, we said that markets desperately needed some words of encouragement from the Fed, or failing that - and with the dollar soaring to new all time highs every day - the Fed had to make some pre-emptive announcement on USD Fx swap lines, if only to reassure global markets that amid this historic, US dollar short squeeze, at least someone can and will print as many as are needed to avoid systemic collapse.
https://www.zerohedge.com/markets/funding-panic-imminent-fed-quietly-sends-31-billion-switzerland-swap-line
Quote:
Bank Of England To Global Markets: 'You Have 3 Days To Sell All The Things'
Things were all holding together in an 'orderly' fashion however until BoE's Gov Andrew Bailey started speaking in Washington late in the day and went full "Leeroy Jenkins'...
After doubling-down on its pension fund bailout scheme, BoE's Bailey spoke in Washington this afternoon, initially warning that "market volatility went beyond bank stress tests" (which is scary), then reinforcing that there is a "serious risk to UK financial system stability," noting that the buying program is "temporary".
But the piece de resistance was his reminding the market that BoE will be out by the end of the week, adding a simple threat...Or what Andy?Quote:
"My message to the funds involved and all the firms is you've got three days left now," Bailey said at an event in Washington on Tuesday.
"You've got to get this done. The essence of financial stability, is that it (intervention) is temporary. It's not prolonged."
What does the BoE Governor expect global markets to do now? Knowing that this is a "serious risk to financial system stability" and more stressful than bank stress tests, what would you do with your investments?
Our tweet says it all...(Roughly translated: 'you have 3 days to sell everything')...
https://www.zerohedge.com/markets/bank-england-global-markets-you-have-3-days-sell-all-things[url=https://gettr.com/share?&text=Nobody%20Has%20Traded%2010Y%20Japanese%20Govt%20Bonds%20For%203%20Days!&url=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fnobody-has-traded-10y-japanese-govt-bonds-3-days][/url]
Quote:
Nobody Has Traded 10Y Japanese Govt Bonds For 3 Days
[url=https://gettr.com/share?&text=Nobody%20Has%20Traded%2010Y%20Japanese%20Govt%20Bonds%20For%203%20Days!&url=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fnobody-has-traded-10y-japanese-govt-bonds-3-days][/url]
No trades (none!) were reported overnight in the benchmark 10Y Japanese Government Bond (JGB) for the third straight day.
Trading volumes in JGBs have dried up over the years as the BOJ scooped up sizable chunks of the debt to keep a cap on yields, now holding just shy of 50% of all JGBs.
Simply put, as one veteran JGB trader remarked privately to us, "there is no [cash] market anymore."
https://www.zerohedge.com/markets/nobody-has-traded-10y-japanese-govt-bonds-3-days
Wait a minute... am I reading this right? Does this sound like a good idea to anybody else? Do I actually agree with her?Quote:
"If they're already running, I think it would be a mistake to switch them off and turn to coal," the national newspaper Die Welt reports the teenager as saying.
NEW - German government calls on citizens to save energy so the country can get through the winter.pic.twitter.com/8dlA2Ce0bI
— Disclose.tv (@disclosetv) October 13, 2022
Broken clock is right twice a day.agent-maroon said:Wait a minute... am I reading this right? Does this sound like a good idea to anybody else? Do I actually agree with her?Quote:
"If they're already running, I think it would be a mistake to switch them off and turn to coal," the national newspaper Die Welt reports the teenager as saying.
Is this real life?
Quote:
France joins Germany in accusing US of using Ukraine war to overcharge for gas
Senior officials of the EU's two biggest powers, France and Germany, have accused the US of overcharging for liquefied natural gas (LNG) and using the war in Ukraine and the energy crisis to turn a profit and make Europe dependent on its gas.
Before the war in Ukraine, Russia was Europe's biggest natural gas supplier, with a share of 55%, mainly due to lower prices compared to LNG deliveries. However, after the war broke out Europe began to introduce sanctions against Russia, reducing purchases from Gazprom, while the Russian state-owned energy giant responded by decreasing its gas deliveries to EU countries.
The EU was forced to start importing LNG, from the US as well as other countries, but the US' share has increased sharply, from 28% to 45%. On the other hand, deliveries from Russia have dropped by 75%.
https://balkangreenenergynews.com/france-joins-germany-in-accusing-us-of-using-ukraine-war-to-overcharge-for-gas/
This. The Europeans are having to outbid Asia and other customers for LNG. The amount that can be exported is limited by the number of ships that can move this product. I read somewhere that one ship can carry about $250 million in LNG at current prices. Think about that.Zobel said:
...the Russians. LNG is market price. Bolded portion of the article is stupid.
agent-maroon said:Wait a minute... am I reading this right? Does this sound like a good idea to anybody else? Do I actually agree with her?Quote:
"If they're already running, I think it would be a mistake to switch them off and turn to coal," the national newspaper Die Welt reports the teenager as saying.
Is this real life?
There was also some dishonest going on with Kuwait vs Iraq, that State Department botched and led Baghdad astray.AggieDruggist89 said:
Germany is not our friend.
Iraq war was a proxy war between Germany and the US.
Germany coerced Saddam to sell his oil to them in Euros - oil for food program. Saddams mistake is trusting Germany will back him. They didn't. He got hunged.
Germany deserves everything they get.
