Lockdown = Savings?

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IanMcL
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Lockdown = Savings?

Post by IanMcL » Tue Apr 07, 2020 4:36 pm

Could there be a bonus, in that the general life spending being cut down, leads to greater saving?

For some, with little guarantee of earning, that could be a catastrophic opposite.

Jakubclaret
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Re: Lockdown = Savings?

Post by Jakubclaret » Tue Apr 07, 2020 4:39 pm

It's a red herring offset with less coming in for some people, guess it'll even itself out for some.

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Re: Lockdown = Savings?

Post by TheFamilyCat » Tue Apr 07, 2020 4:45 pm

Depends what you spend on. For those who are out every weekend spending £100 on a night out, I guess they'll be saving plenty.

Most people's travel costs will have reduced significantly.

How many people are sat at home, bored buying loads of **** they don't really need online though?

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Re: Lockdown = Savings?

Post by FactualFrank » Tue Apr 07, 2020 4:47 pm

Because it's now an impossibility to get a Tesco delivery, or any other supermarket, and I don't currently have a car, I'm finding myself going to the local shops and spending a lot more than I normally would. Often £10+ per day as I'll pick up stuff I wouldn't normally.

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Re: Lockdown = Savings?

Post by conyoviejo » Tue Apr 07, 2020 4:50 pm

Savings,I think it's more about survival at the moment..
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Re: Lockdown = Savings?

Post by ElectroClaret » Tue Apr 07, 2020 4:50 pm

Since the pubs shut, I've saved a small fortune.
Not really spending it on owt else.

Same with petrol, can't remember the last time I filled up.

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Re: Lockdown = Savings?

Post by Zlatan » Tue Apr 07, 2020 4:53 pm

as a household, we're about a grand a month up in lockdown (both still working full time, me from home partner a key worker), me personally I think it's about £600 better off.

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Re: Lockdown = Savings?

Post by Chester Perry » Tue Apr 07, 2020 4:55 pm

IanMcL wrote:
Tue Apr 07, 2020 4:36 pm
Could there be a bonus, in that the general life spending being cut down, leads to greater saving?

For some, with little guarantee of earning, that could be a catastrophic opposite.
we have used our cost savings, particularly, the cost of travel to and from work, to donate to local charities in need, for the small businesses we have used regularly we have paid forward for the rest of the year in the hope that some may survive to the other side of this (no guarantee but we hope) - realise not possible for all, and that some will be really struggling, but if you can there is a urgent need for such actions out there at the moment
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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 4:56 pm

think our household has done some saving, even with the upturn on Amazon spending, the grandchildren are benefiting and at the age they don't really understand why things have changed plus why daddy is home every day. Our son was furloughed yesterday but thinks they, as a family, will be ok but definitely not saving.

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Re: Lockdown = Savings?

Post by Burypaddy » Tue Apr 07, 2020 5:03 pm

As a private pensioner i am saving quite a lot not going to pub every teatime to talk to someone but i must admit i have reinvested in the stock market whilst its on its knees to boost my pension in the future but must admit i would change it back to normality tomorrow.
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Re: Lockdown = Savings?

Post by Marney&Mee » Tue Apr 07, 2020 5:21 pm

FactualFrank wrote:
Tue Apr 07, 2020 4:47 pm
Because it's now an impossibility to get a Tesco delivery, or any other supermarket, and I don't currently have a car, I'm finding myself going to the local shops and spending a lot more than I normally would. Often £10+ per day as I'll pick up stuff I wouldn't normally.
They release new delivery slots at midnight every day FF...

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Re: Lockdown = Savings?

Post by Darthlaw » Tue Apr 07, 2020 5:34 pm

I've noticed a few supermarkets have pulled their offers back and the farm shop we usually source our meat has increased their prices (by changing offers) by around 30%.

We'll still be saving as a result of no fuel costs and no childcare costs but I can't help thinking some are being quite opportunistic with the situation.

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Re: Lockdown = Savings?

Post by Rowls » Tue Apr 07, 2020 5:46 pm

I think inflation will be back with a bite after this.

Costs will have risen for suppliers, people will have more ready cash, the government has been printing money, the economy will be in a state.

For the first time in over a generation, we could see tough inflation rates affecting our daily lives.

Be prepared, folks.
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Re: Lockdown = Savings?

Post by FactualFrank » Tue Apr 07, 2020 5:56 pm

I'd sooner get this over first before I start preparing for something that may or may not happen.

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Re: Lockdown = Savings?

Post by randomclaret2 » Tue Apr 07, 2020 6:03 pm

Petrol is at its cheapest for years ironically

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Re: Lockdown = Savings?

Post by Jakubclaret » Tue Apr 07, 2020 6:04 pm

FactualFrank wrote:
Tue Apr 07, 2020 5:56 pm
I'd sooner get this over first before I start preparing for something that may or may not happen.
That's it, it's almost like in some ways your life is completely on hold until this is over, it's a uncertain future for people especially when it comes to spending money, it's sensible to hold back & see where you are at, when all this blows over.

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Re: Lockdown = Savings?

Post by Rowls » Tue Apr 07, 2020 6:07 pm

Rowls wrote:
Tue Apr 07, 2020 5:46 pm
I think inflation will be back with a bite after this.

Costs will have risen for suppliers, people will have more ready cash, the government has been printing money, the economy will be in a state.

For the first time in over a generation, we could see tough inflation rates affecting our daily lives.

Be prepared, folks.
I'm just thinking aloud.

Got nothing else to do.
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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 6:07 pm

think we should all be planning for the future while continuing to stay healthy and monitor every day. Yet it's completely up to the individual whether they look at the economics now versus past and what might be the future, we all have different drivers in one and all have the same driver in the other but both are interlinked .
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Re: Lockdown = Savings?

Post by Rowls » Tue Apr 07, 2020 6:12 pm

KateR wrote:
Tue Apr 07, 2020 6:07 pm
think we should all be planning for the future while continuing to stay healthy and monitor every day. Yet it's completely up to the individual whether they look at the economics now versus past and what might be the future, we all have different drivers in one and all have the same driver in the other but both are interlinked .
Speak for yourself, m'lady.

Image

:lol:

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Re: Lockdown = Savings?

Post by Jakubclaret » Tue Apr 07, 2020 6:14 pm

KateR wrote:
Tue Apr 07, 2020 6:07 pm
think we should all be planning for the future while continuing to stay healthy and monitor every day. Yet it's completely up to the individual whether they look at the economics now versus past and what might be the future, we all have different drivers in one and all have the same driver in the other but both are interlinked .
It's difficult to plan ahead though for some people, some people are unsure about employment & maybe debt/obligations & the stress that comes with them problems, each individual person will be completely different in terms of circumstances & how they deal with them circumstances in every shape & form & every perspective.

Burnley1989
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Re: Lockdown = Savings?

Post by Burnley1989 » Tue Apr 07, 2020 6:32 pm

What I’ve lost in wages I’ve saved by not going out boozing and eating in restaurants all weekend, was surprised at how much I wasted

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Re: Lockdown = Savings?

Post by Tribesmen » Tue Apr 07, 2020 7:21 pm

Yep saving cash without doubt , i had a few trips planned and flights have been cancelled hotels rooms have gone and that has all gone back into my account .

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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 7:44 pm

Jakubclaret wrote:
Tue Apr 07, 2020 6:14 pm
It's difficult to plan ahead though for some people, some people are unsure about employment & maybe debt/obligations & the stress that comes with them problems, each individual person will be completely different in terms of circumstances & how they deal with them circumstances in every shape & form & every perspective.
Jakub,
surely planning ahead is the same in all circumstances, if you don't have a job you would be thinking/planning to get one if you want to go back to work, things like CV update, LinkedIn, contacting contacts etc. It's not just about investing, that's for some for others it tightening the belt so I don't think it's that difficult to plan. Agree we will all have different circumstances which is what I think I was saying, it could be to do with selling shares etc. at some point in the near future or what to do with other assets, second home, Timeshare etc. Point I agree with Rowls on was you need to be thinking now, will we go deep into recession, will it be a V, U or L recession, inflation, home prices etc all big factors for most, but main point is don't expect to be back to the normality of pre C-19 anytime soon.

Rowls,
unfortunately could not see the picture you posted.

I usually speak alone like a voice in the wilderness and nick named myself as Cassandra quite a while back.
Last edited by KateR on Tue Apr 07, 2020 7:47 pm, edited 1 time in total.

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Re: Lockdown = Savings?

Post by Rowls » Tue Apr 07, 2020 7:46 pm

KateR wrote:
Tue Apr 07, 2020 7:44 pm
Rowls,
unfortunately could not see the picture you posted.
It's Parker from Thunderbirds. Just a lame joke because you mentioned "drivers"
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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 7:48 pm

Rowls wrote:
Tue Apr 07, 2020 7:46 pm
It's Parker from Thunderbirds. Just a lame joke because you mentioned "drivers"
understand the M'lady bit now lol

:D

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Re: Lockdown = Savings?

Post by Bosscat » Tue Apr 07, 2020 7:51 pm

KateR wrote:
Tue Apr 07, 2020 7:48 pm
understand the M'lady bit now lol

:D
From the latest Cgi version
uktv-thunderbirds-are-go-lady-penelope-parker.jpg
uktv-thunderbirds-are-go-lady-penelope-parker.jpg (727.78 KiB) Viewed 2977 times
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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 7:56 pm

:lol: actually quite a likeness even if I do say so myself :)






I think my little blue crop top is so fetching and brings out the colour of my eyes nicely
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Re: Lockdown = Savings?

Post by Bosscat » Tue Apr 07, 2020 8:06 pm

KateR wrote:
Tue Apr 07, 2020 7:56 pm
:lol: actually quite a likeness even if I do say so myself :)






I think my little blue crop top is so fetching and brings out the colour of my eyes nicely
🤣🤣🤣 yeah alright Kate 🙄

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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 8:09 pm

Bosscat wrote:
Tue Apr 07, 2020 8:06 pm
🤣🤣🤣 yeah alright Kate 🙄
hopefully you did realize the only one wearing blue and are not colour blind ;)

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Re: Lockdown = Savings?

Post by Bosscat » Tue Apr 07, 2020 8:16 pm

KateR wrote:
Tue Apr 07, 2020 8:09 pm
hopefully you did realize the only one wearing blue and are not colour blind ;)
No way you are like Sherbert... (Thats Lady P's little Pug puppy)... mind you he is extremely intelligent 😉....
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Re: Lockdown = Savings?

Post by IanMcL » Tue Apr 07, 2020 8:17 pm

Parker seems younger and taller than before.
Also, he has lost his strings!

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Re: Lockdown = Savings?

Post by KateR » Tue Apr 07, 2020 8:31 pm

Bosscat wrote:
Tue Apr 07, 2020 8:16 pm
No way you are like Sherbert... (Thats Lady P's little Pug puppy)... mind you he is extremely intelligent 😉....
well you learn something new everyday, well I do :)

I would never have been able to have answered that, even if on my final question of who wants to be a millionaire, might just remember it now though

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Re: Lockdown = Savings?

Post by Steve1956 » Tue Apr 07, 2020 8:43 pm

IanMcL wrote:
Tue Apr 07, 2020 4:36 pm
Could there be a bonus, in that the general life spending being cut down, leads to greater saving?

For some, with little guarantee of earning, that could be a catastrophic opposite.
A bonus Ian...? No chance me and the wife are climbing the walls here..online shopping is getting hammered,i even told her the parcels would be infected...all to no avail :(
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Re: Lockdown = Savings?

Post by tim_noone » Tue Apr 07, 2020 8:48 pm

Lockdown = £££ = :D

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Re: Lockdown = Savings?

Post by No Ney Never » Tue Apr 07, 2020 9:00 pm

Rowls wrote:
Tue Apr 07, 2020 5:46 pm
I think inflation will be back with a bite after this.

Costs will have risen for suppliers, people will have more ready cash, the government has been printing money, the economy will be in a state.

For the first time in over a generation, we could see tough inflation rates affecting our daily lives.

Be prepared, folks.
Along with relatively high unemployment, increasing oil price and interest rates.

Grumps
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Re: Lockdown = Savings?

Post by Grumps » Tue Apr 07, 2020 9:03 pm

Certainly better off, hardly any of our 4 pensions are getting touched, not going out so weekly fill up of petrol isn't happening, no holidays for a few months etc, but I'd swap it to be able to spend it again.
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Re: Lockdown = Savings?

Post by paulatky » Tue Apr 07, 2020 9:05 pm

A lot of people will be in negative equity very soon,

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Re: Lockdown = Savings?

Post by Grumps » Tue Apr 07, 2020 9:18 pm

paulatky wrote:
Tue Apr 07, 2020 9:05 pm
A lot of people will be in negative equity very soon,
History shows things recover, might take time, but they will
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Re: Lockdown = Savings?

Post by clarethomer » Tue Apr 07, 2020 9:32 pm

paulatky wrote:
Tue Apr 07, 2020 9:05 pm
A lot of people will be in negative equity very soon,
It's only a loss though if you need to sell.

People that don't need to sell, wont sell and therefore it becomes supply v demand which keeps prices under control to a degree and is less about sentiment.

A bit like the stock market - when the FTSE was 7000, they wish they had bought at 5300. When it got to 5300, people thought it was a bad time to invest, or thought they would wait until it went lower. Today it closed at 5700 ish.

If house prices drop by 10% or 20% even, you will get people waiting for 30-40% as they hold the mindset similar to those who want to time the market to invest.

What you need to realise is that even if you are in negative equity with a 20% drop, you wont be selling unless you have to.

Unlike a stock, it's not that easy to get rid of a house as an asset when you don't fully own it and take a hit - you will still owe the money therefore it can force you to keep hold of the asset. This will force the behaviour of 3 camps

camp 1 - we dont need to sell so will carry on as normal
camp 2 - we can take a drop in value, as long as I can move up for a lower cost too.
camp 3 - we are in financial distress and we need to sell/being repossessed.

Only if camp 3 creates enough supply to outweigh demand, will we see drop in market prices being an issue for homeowners.
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Re: Lockdown = Savings?

Post by IanMcL » Tue Apr 07, 2020 9:36 pm

Steve1956 wrote:
Tue Apr 07, 2020 8:43 pm
A bonus Ian...? No chance me and the wife are climbing the walls here..online shopping is getting hammered,i even told her the parcels would be infected...all to no avail :(
I have a partner showing those signs, too Steve!
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Re: Lockdown = Savings?

Post by Blackrod » Tue Apr 07, 2020 10:15 pm

I think more people are worried about their livelihood, keeping their businesses afloat and making ends meet for their families. Instead of people stating how great it is they are not spending or how confortable they are with their pensions think about these other people. Meanwhile people are dying, selfless people are volunteering and the NHS staff are working long hard shifts.

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Re: Lockdown = Savings?

Post by tim_noone » Tue Apr 07, 2020 10:22 pm

Blackrod wrote:
Tue Apr 07, 2020 10:15 pm
I think more people are worried about their livelihood, keeping their businesses afloat and making ends meet for their families. Instead of people stating how great it is they are not spending or how confortable they are with their pensions think about these other people. Meanwhile people are dying, selfless people are volunteering and the NHS staff are working long hard shifts.
But the OP Sums that up perfectly.

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Re: Lockdown = Savings?

Post by Zlatan » Tue Apr 07, 2020 10:29 pm

Blackrod wrote:
Tue Apr 07, 2020 10:15 pm
I think more people are worried about their livelihood, keeping their businesses afloat and making ends meet for their families. Instead of people stating how great it is they are not spending or how confortable they are with their pensions think about these other people. Meanwhile people are dying, selfless people are volunteering and the NHS staff are working long hard shifts.
Please don’t take my response as being glib, I apologise if it comes across like that. I’m still working full time from home, I’m lucky in that respect. However I’m also shielding as I’m in the high risk group so I have lost my liberty for 12 weeks too. If I wasn’t working full time I’d want to volunteer but I wouldn’t be permitted to. There are some fantastic people doing all sorts out there, and I would help if I could.

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Re: Lockdown = Savings?

Post by Burnleyareback2 » Tue Apr 07, 2020 10:29 pm

ElectroClaret wrote:
Tue Apr 07, 2020 4:50 pm
Since the pubs shut, I've saved a small fortune.
Not really spending it on owt else.

Same with petrol, can't remember the last time I filled up.
I’m getting about 3 weeks to the gallon at the moment.

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Re: Lockdown = Savings?

Post by TVC15 » Tue Apr 07, 2020 10:31 pm

Amazon vans seem busier than ever - the irony that the company that contributes so little in taxes seems to be making more money than ever during this crisis is not lost on me.
Even at times of crisis there are some who benefit - in the world we live in today a lot of these are the online retailers or even the big social media platforms with significant increases in traffic / users with so much of the world on lockdown.
I haven’t seen any headlines as yet about how these companies are contributing to the cause - hardly a surprise when you see how they treat their staff and avoid paying their fair share of taxes.

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Re: Lockdown = Savings?

Post by Rileybobs » Tue Apr 07, 2020 10:31 pm

Burnleyareback2 wrote:
Tue Apr 07, 2020 10:29 pm
I’m getting about 3 weeks to the gallon at the moment.
:lol: Electric cars aren’t really paying for themselves at the minute are they.
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Re: Lockdown = Savings?

Post by paulatky » Tue Apr 07, 2020 10:37 pm

clarethomer wrote:
Tue Apr 07, 2020 9:32 pm
It's only a loss though if you need to sell.

People that don't need to sell, wont sell and therefore it becomes supply v demand which keeps prices under control to a degree and is less about sentiment.

A bit like the stock market - when the FTSE was 7000, they wish they had bought at 5300. When it got to 5300, people thought it was a bad time to invest, or thought they would wait until it went lower. Today it closed at 5700 ish.

If house prices drop by 10% or 20% even, you will get people waiting for 30-40% as they hold the mindset similar to those who want to time the market to invest.

What you need to realise is that even if you are in negative equity with a 20% drop, you wont be selling unless you have to.

Unlike a stock, it's not that easy to get rid of a house as an asset when you don't fully own it and take a hit - you will still owe the money therefore it can force you to keep hold of the asset. This will force the behaviour of 3 camps

camp 1 - we dont need to sell so will carry on as normal
camp 2 - we can take a drop in value, as long as I can move up for a lower cost too.
camp 3 - we are in financial distress and we need to sell/being repossessed.

Only if camp 3 creates enough supply to outweigh demand, will we see drop in market prices being an issue for homeowners.
Camp 3 will be the large majority as so many people will be out of work or taken a reduction in wages.

Also mortgages will be harder to come by

You are in cloud cuckoo land if you think house prices arent going to fall significantly.

Only time will tell whose right.

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Re: Lockdown = Savings?

Post by Rileybobs » Tue Apr 07, 2020 10:41 pm

paulatky wrote:
Tue Apr 07, 2020 10:37 pm
Camp 3 will be the large majority as so many people will be out of work or taken a reduction in wages.

Also mortgages will be harder to come by

You are in cloud cuckoo land if you think house prices arent going to fall significantly.

Only time will tell whose right.
So the large majority of people have their homes repossessed or will need to sell them? Really?

Your constant scare-mongering isn’t helping anyone.

Yes, let’s see who’s right.

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Re: Lockdown = Savings?

Post by dsr » Tue Apr 07, 2020 10:44 pm

For pessimists, house prices changes are a boon. There's always something to complain about - prices rising are bad news because young people can't afford houses, prices falling are bad news because of negative equity. It's a lose-lose.

For optimists, of course, it's the other way.

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Re: Lockdown = Savings?

Post by Alanstevensonsgloves » Tue Apr 07, 2020 10:44 pm

IanMcL wrote:
Tue Apr 07, 2020 8:17 pm
Parker seems younger and taller than before.
Also, he has lost his strings!
Because that's not Parker, that's Noel Gallagher!
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