NuBrit

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About NuBrit

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  1. Interest rate rises are coming...

    When the BOE cut the interest rates after Brexit by 0.25%, Nationwide cut their savings products, including the Smart Junior ISA from 3.25% to 3%. Despite having rate increased, they haven't even touched the rate.
  2. Who fancies having their rental record on their credit file? Not me certainly
  3. The SNP lost half a million votes on an absolute basis. I think the realisation has kicked in for Scottish people that Independence is a very, very scary thing. There are deep rooted structural problems in Scotland that cannot be solved internally. They've probably realised that they need the rest of the UK a lot more than the UK needs them.
  4. Are the Conservatives now lost?

    Outside of tax havens in the Carribean and Arab states that have no income/cap gains taxes, through the various ISA offerings, I think the UK already has one of the best/generous systems for allowing ordinary people to build up capital. The real problem is that young people just have no money to save or invest. We have very high rates of participation in higher education, we have some of the best universities in the world. I don't think a lack of education is our problem. Getting people off part-time hours and into higher paid industrial jobs sounds great but the reality is that competition for these sorts of jobs is growing, and the overall pool of the jobs is shrinking as automation kicks in and China continues to expand. People seem to think the situation that the UK is in with regards to young people having no opportunities is unique. It's not. My friends back home in the US are saying the exact same things. From what I read, the same problem afflicts continental Europe and Japan. The grim situation that young people find themselves in is structural, and I just think there is no easy answer, so maybe the tax credit system is the least worse option. I think if you took the tax credit system away, you'd really mobilise the working poor and give Corbyn a real mandate for what he wants to do.
  5. Are the Conservatives now lost?

    When Teresa May, Philip Hammond, Sajid Javid, or anyone else from the Tories talks about sorting out the housing crisis, they mean something different to how we understand it. A housing crisis for the Tories isn't young people not being able to afford a house, it's house prices themselves falling that scares them. The core constituency of the Tories is people who own property, so it's only natural that they want to maintain the status quo and to keep prices high.
  6. Are the Conservatives now lost?

    Tell that to Zimbabwe or Venezuela.
  7. They just wont stop....

    The house prices here stink, but they actually stink in a lot of places. I have one friend who is in Canada and has been for quite some time. He loves the life there and won't be returning to the US, but unless he's going to move away from civilisation, he will never be able to afford a house there. If anything, I hear prices there are worse than here. It's actually laughable. After the last crash in 07, the Canadian bankers were very smug saying such a thing could never happen there as they were traditional, conservative lenders. All lies, all nonsense, the whole thing there is going to come tumbling down there eventually. The situation is the same in Australia, uber bubble there. Same goes for China. Even looking at Europe, Scandinavia is in a bubble, and the wealth capital cities of Europe are too. When you look around the world, I would struggle to think of many built up areas that aren't too expensive.
  8. This exactly. Also, don't forget that the notion of "deposit insurance" (which is a myth, there is no pot of money to pay out savers of failed banks) is also a backstop on stupidity. Remember IceSave? They paid out the highest interest rates in the market and if you ask me, anyone who put their money into such a bank deserved to receive pence on the Pound when they went bank. Instead we abandoned moral hazard and paid out savers in full, thus encouraging the incredibly risky lending that we see today. If you ask me, the EU have this one right.
  9. Turkeys don't vote for Christmas - that is why we are doomed to boom and bust.
  10. I am looking at the same companies and other utilities myself. In an overvalued market, I think these are decent defensive plays which are fine for people who are happy with decent high single digit compounded annual gains...
  11. A large part of the net asset value of housebuilders is in unsold stock and development land. If you think there will be a decline in house prices, then the house builders are going to have to take big write downs. If you want to see how bad things can get for builders, I would suggest that you read an annual report for 2008. Then take a look at the share price of the likes of Barratt Developments, who went from about £10 a share to £1 in 2007. Not for me personally.
  12. The big problem with Carillion is that everyone looked at the bottom line net income and ignored free cash flow. Debt is not necessarily a bad thing, as long as you have the cash flow to back it up. Carillion had huge debt, poor cash flow, and investors that expected regular increasing dividends. This was one time the hedge funds definitely got it right and the retail investors were scalped.
  13. Javid on Sky News right now

    +1 I don't think the government has any intention of making housing cheaper. That would be terrible (for them). What the Tories want is to get people borrowing more money so they can be kept in debt servitude.
  14. It's actually easier than ever to institute capital controls. They just need to tell the banks to suspend all physical and electronic transactions over a certain amount. It happened overnight in Iceland during the Icesave crisis and in Cyprus too when their banks were tottering. I see no reason why it couldn't happen here.
  15. There's two sides to it I think. Yes, young people are being denied affordable housing, but on the other hand there is no reason why they absolutely have to live at home and have their mothers feeding them and ironing their underpants. It's crazy talking to some early 20 something year olds these days. I know several who would not be able to use a washing machine, cook an egg, or cancel the electric. The infuriating thing is, they see no reason why they should even learn such basic life skills!