Everything’s devalued by 30%

[oakleaf]

This situation won’t ever end until there’s both a vaccine and antidote. Even then getting things moving again will take years.

Unreported yet the property market is knackered. No buyers. No credit and as yet nothing reported.

Car trade ruined pretty much overnight. Lease companies can’t pick up end of lease vehicles because there’s nowhere to send them for sale.

I don’t care what anybody says there will be a food shortage due to the supply chain. We are going to see gassing of chicken and pork sheds even though there is people to feed. The middle man industry in the food chain is knackered. We are already seeing root crop planting down by 20%. Milk job is finished without intervention. Soft fruit? What soft fruit as the imported stuff will fade away soon enough.

When hundreds of thousands of people start defaulting on their mortgages, the banks could recall debt on farms and business to prop their domestic property loans up resulting in lots of farms on the market devaluing land by as much as 50%.

This country is a supply logistics setup in the main and the setup is now failing us. The government are talking about manufacturing in the uk again but they are going to have to financially support it to get it going. Then ultimately it’ll fail in years to come when China can supply at half the price because their standard of living is poor compared to ours.

The problem is in the UK and many other 1st world countries our standard of living has exceeded our ability to maintain it in a time of need like now.

devils advocate - discuss ........

It may well all come to pass as you describe. Or perhaps not, no one can really know. But with no disrespect intended that is the most depressing post that l have ever read on here.
Later today l will take my 4 dogs down through the fields to the river and throw in sticks for them to fetch then coming back home through an ancient beechwood at dusk to sit in front of the fire with a glass of Jameson.
( Always finish on a positive note).

 

[upnortheast]

A brighter thought, i wonder if there will be a huge retail spending spree later this year.
Lots of people who earned (say ) £ 1000 a month & used to spent £1010 a month.
They have found that with no meals out, nights in the pub, spending money at the shopping centre on crap. they can actualy live on £600 a month.
Result in 6 months time they will be in a much better financial situation

 

[Lincoln75]

In other news, I was speaking with a guy that does a lot of machinery & ag finance the other day and he reckoned they were busier than ever, just working from home obviously. I'm sure I read a bit in an ag paper the other day, written by a shiny suited land agent, that there was tremendous demand for ag land.....

Hype , BS what ever you want to call it , scared people spout it hoping others will believe it and carry on spending as normal , people who who have money are generally not stupid , now is not the time to spend , its a falling market for all trades ,

 

[Lincoln75]

This situation won’t ever end until there’s both a vaccine and antidote. Even then getting things moving again will take years.

Unreported yet the property market is knackered. No buyers. No credit and as yet nothing reported.

Car trade ruined pretty much overnight. Lease companies can’t pick up end of lease vehicles because there’s nowhere to send them for sale.

I don’t care what anybody says there will be a food shortage due to the supply chain. We are going to see gassing of chicken and pork sheds even though there is people to feed. The middle man industry in the food chain is knackered. We are already seeing root crop planting down by 20%. Milk job is finished without intervention. Soft fruit? What soft fruit as the imported stuff will fade away soon enough.

When hundreds of thousands of people start defaulting on their mortgages, the banks could recall debt on farms and business to prop their domestic property loans up resulting in lots of farms on the market devaluing land by as much as 50%.

This country is a supply logistics setup in the main and the setup is now failing us. The government are talking about manufacturing in the uk again but they are going to have to financially support it to get it going. Then ultimately it’ll fail in years to come when China can supply at half the price because their standard of living is poor compared to ours.

The problem is in the UK and many other 1st world countries our standard of living has exceeded our ability to maintain it in a time of need like now.

devils advocate - discuss ........

I hope you are wrong but deep down I know it could go that way , Hope for the Best and prepare for the worst is all we can do.

 

[glasshouse]

A brighter thought, i wonder if there will be a huge retail spending spree later this year.
Lots of people who earned (say ) £ 1000 a month & used to spent £1010 a month.
They have found that with no meals out, nights in the pub, spending money at the shopping centre on crap. they can actualy live on £600 a month.
Result in 6 months time they will be in a much better financial situation

If they are getting paid

 

[jondear]

Another doom-mongering thread, I'm out of here!

Yes I agree I read it and already spread it's doom to 2 other people!

 

[bovrill]

God what a depressing read.

Life in the west has been too good for too long and we now have two generations who have never had any real collective hardship to contend with but this isn't the end of the world.

It's only depressing if you thought the system was all rainbows and unicorns before.
If you thought modern life is awful, then you would be excited that this could be a reset where hard work and making actual physical things for people to use will be valued again, and people in shiny suits polishing office chairs every day are about to get shafted for a change.

I'm in the latter group, but also realistic enough to know that the flat arsed masses will be fighting like crazy to get things back to how they were.

 

[Paddington]

On line shopping has had a huge boost, certainly on the sites I use, a few have to close their websites down as they have been inundated with orders with several days of backlogs to clear. We have probably ordered more stuff from Amazon, including food items that we can't get locally in the last month, than we normally do in a year.

 

[glasshouse]

Jus hoping that vocational occupations, ie nursing, doctors teachers and farmers might get a bit more respect

 

[neilo]

Can see the 1930s happening all over again. Farmers in the south east of England will desert their farms and the canny Scots will descend in droves and take over most of Essex and Cambridgeshire!!!

Don't the marauding barbarians hark from a few centuries before that?

 

[glasshouse]

There is a half built golf course just gone on the market

 

[Yale]

It may well all come to pass as you describe. Or perhaps not, no one can really know. But with no disrespect intended that is the most depressing thread that l have ever read on here.
Later today l will take my 4 dogs down through the fields to the river and throw in sticks for them to fetch then coming back home through an ancient beechwood at dusk to sit in front of the fire with a glass of Jameson.
( Always finish on a positive note).

You don’t have to be a rocket scientist to work out that all the jobs that will be lost will be a consumer who finds themselves on Universal credit,I.e. dole.

They will no longer be a consumer with clout,no Starbucks mid morning,no car on PCP,defaulting on mortgage payments,no foreign holiday,no nothing apart from basic survival.

With a lot less ‘consumers’ how will the economy function?

 

[GeorgeK]

A brighter thought, i wonder if there will be a huge retail spending spree later this year.
Lots of people who earned (say ) £ 1000 a month & used to spent £1010 a month.
They have found that with no meals out, nights in the pub, spending money at the shopping centre on crap. they can actualy live on £600 a month.
Result in 6 months time they will be in a much better financial situation

I reckon people will have had rent and finance holidays but spent the cash freed up shopping online, leaving even more unmanageable repayments for later.
However I'm starting to believe this is actually a sensible course of action seeing how well protected borrowers are to the point if you can't make payments it's someone else's fault. Some legal firm will argue it was irresponsible of lenders to give customers a payment holiday when they should have known they would waste what they saved and never be able to make the extra repayments, thus are liable for compensation

 

[neilo]

Yes.Particularly if you have an overdraft aswell(doesnt have to be large either). They know that all they have to do is pull your overdraft and if you have not defaulted on your long term loan,you soon will.

If the banks were to start playing those games, then the price of land would go into freefall as there would be huge areas on the market and few buyers. They wouldn't stand a hope of recovering their debt in that scenario. The reduced valuation on all that land, that has been put up as 'safe' collateral, would trigger a lot more being in default. That's just another tower of cards waiting to tumble IMO.

 

[David.]

There is a half built golf course just gone on the market

Good

 

[essexpete]

I have said that before

Do you reckon its all a massive game of musical chairs world wide?

 

[Derrick Hughes]

Straw 30% cheaper !!!

 

[glasshouse]

Straw 30% cheaper !!! View attachment 873143

Its going to be 100% dearer

 

[Derrick Hughes]

I see , so he wants everythin he buys 30% cheaper but sell 100% dearer, how does that work @

 

[roscoe erf]