In custody, he told a psychiatrist he had been hearing voices and was carrying a knife out of 'habit'.
Loveridge had been cared for in the community since 2015 even though he had a history of violence and drug abuse which made his mental health worse.
The defendant pleaded guilty to the manslaughter of Mr Young by diminished responsibility and to wounding Mr Bulat with intent to cause him grievous bodily harm.
The man later died 'as a result of having no spleen', the court heard.
In 2005 Loveridge was convicted of criminal damage after kicking a door off its hinges.
The same day, police recovered the knife from the park and 'cutting-edge' tests revealed it had DNA on it belonging to both victims and their attacker.
Loveridge was detained following a struggle with police officers after a week on the run.
In between the attacks, the part-time gardening assistant had phoned his boss to say he was going to be late.