Outlook for the O&G industry., page-24

At this stage, though I do not like it, I would have to say I feel the market still has some way to go in this downward trend and so does BPT. The closing sentiment in the US and elsewhere overnight, despite all of the money being printed and handed out, is not positive. When the body bags start filling in New York, and they will, then shit is gonna get real.

Invertedva, In relation to your views though, I have to disagree with some aspects but agree with others.

The downside of the markets ever shutting by choice of the Government is simple.
The owner of the capital can not get it back if they want it (Or need it).... What's to then stop the Government saying we were wrong it will now need 6 months or a year or longer ?. Shutting the market destroys trust in the system and will likely only cause an all out run on the markets when it reopens anyway.

Now for the banks generosity.
I would hardly call what the banks did as generous. They will continue to accumulate interest at the highest rate on the principle and the interest each and every month whilst the value of the asset goes down as a result of the impending recession knowing full well that at the end of six months, (or 12 months when they extend their generosity), the business or the house will now be worth much less than what it was before whilst the owner (I use the term sucker) will now have to pay much more over a longer period. Hardly generous and the small business will still need to let staff go anyway and reduce their business size as a result of the changing market because their income has literally dropped off of a cliff as their customers disappear.

The Government once again has given taxpayers money to the wrong people and for me this raises a bigger question.
When the Government uses the term "Herd Immunity" do the people (Tax Payers) realise that what they really mean ?. You see, what I think they mean is the the Tax Payers are the herd and the Government and the Banks want to keep milking us dry because that is what they see the heard as being useful for. They like the herd to be fat, dumb and placid so they can easily convince us to keep getting milked as the only option. That is why they use marketing and slight of hand to convince you they are generous

The one thing you said which I totally agree with is "The highest paid professions in finance are next to useless , whilst the lowest paid professions are the most essential. At the end of this , I think we will see a reframing of the relationship between the finance sector and the rest of society. The banks know this." Lets not wait till the end.. Now is the time for reframing the relationship.

Cash is the only place to be at this time.

GLTAH, DYOR and HTFO