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Everything posted by Methinkshe

  1. I agree. Where is "due diligence" when a bank makes available £10,000 credit to an 18 year old? What is so morally upright about a government that ensares 18yr olds in £10,000+ student debt? To whom you owe money you are a slave. And student debt is the most pernicious of all because governments can at any time move the goalposts, even retrospectively. They can also deduct repayments from wages. If that isn't slavery then I don't know what is.
  2. Why do you think bankruptcy should be available to failed business and not to individuals? Do you then think it is more acceptable for Dodgy Builders Ltd to set up a £100 Limited Company, open accounts with suppliers and get thousands of pounds worth of materials on credit, sub-contract work to other tradesmen - carpenters, electricians, plasterers etc., and then when cash gets tight, declare insolvency, leaving their clients with unfinished work which has usually been part-paid for in advance, and suppliers and sub-contractors unpaid and possibly facing personal bankruptcy? Especially when Dodgy Builders Ltd resumes trading the following day as Dod G. Builders Ltd.? When we ran a small business (three employees) on several occasions we were nearly put out of business by this kind of practice. We'd do thousands of pounds worth of work on a 50% deposit basis that at least covered our materials costs, then the client business would go bankrupt leaving us with three weeks labour costs unfunded so that we had to pay our employees' wages out of our own pockets, forego our own wages and profit, yet still have to pay overheads. The knock-on effect of businesses declaring insolvency is far more widespread within the community than when an individual declares bankruptcy and where the creditors are credit card issuers and/or banks.
  3. Exactly so. If it were really about health then smoking would be banned, or better still, car driving would be banned because the crap that comes out of an exhaust pipe is infinitely more harmful to the human lungs than a puff of fag smoke. It is all about raising revenue and until those who believe that climate change is a guillotine blade on a frayed rope just a micrometre away from dropping onto the neck of humanity recognize this, we'll all be stuck with paying higher taxes, because the gullible, as ever are in the majority.
  4. Are you not just arguing the toss between a multiple pile-up on the M25 caused by a 40 ton HGV travelling at 65 mph or 70mph? The pile-up is going to occur and time is a rather small component in the greater scheme of things.
  5. You are excused! Should have been doing the same thing myself except for a few more but got involved with this thread. That's why I made the post/edit mistake - too many starving kids waiting for their tea to be served. I will follow your good example and go and serve dinner.
  6. Every man to his own speciality. Just as a scientist/mathematician is annoyed by arithmetical mistakes, so is a lover of language annoyed by spelling mistakes. I was going to repost as an edit but your later reply overtook so I thought I wouldn't bother. But now you have resurrected it, I am not ashamed to admit that I find it difficult to take seriously anyone who spells credibility thus: credAbility.
  7. Okay, slap on hand accepted. I should not tar everyone with the same brush. But from my reading and my contacts (husband and brother both engineers - husband retired, bro working in US and very well placed with his Cambridge degree in Mech Eng,working in CAD) I have yet to be convinced that manmade global warming is anything more than the biggest tax-raising scam ever perpetuated on the sheep.
  8. Sorry - posted instead of edited - happens when you get half a dozen other calls.
  9. Ah, well, that accounts for it. You're not naive, just blinkered from being so long on the inside.
  10. You are very naive. Science is more politically controlled these days then it ever has been. A lot of scientific research depends on government grants, and they are only awarded to projects that adhere to the political flavour of the month. Good research is only as good as an unbiased source of funding allows, and to suggest that privately funded research equates to bias, but publically funded research equates to honesty, is about as naive as it is possible to be.
  11. Too right I remember! We were looking at an ice age that would reduce us all to Eskimos! Scares just play into the hands of politicians. They can be utilised to "tax us for our own good". Anyone who believes such scare stories should try doing a little research and attempt to understand how the whole concept of manmade effects on climate came into existence.
  12. I do hope that mods will not remove this thread because it epitomises the herd mentality that has lead to the speculative bubble in house prices. How many of those who have been seduced by the so called global warming crisis are also the Johnny-come-latelys to recognising the housing speculative bubble?
  13. Hear, hear! Not to mention that the science doesn't stack up. Just ask an engineer, not some kind of abstract scientist. Engineers are trained to perceive the world in realistic terms because their decisions gleaned from their mathematical equations and assumptions have to be foolproof because if they are not, the bridge that is built according to their design will collapse and hundreds of people could lose their lives. Engineers should be the prima donnas of science, not dismissed as pseudo-scientists that they are too often made out to be. They are the TRUE scientists because their theories HAVE to be put into action. The rest of them hide behind theories that may never be disproven or proven, and certainly peoples' lives aren't dependent on them. Grumpy Old Woman.
  14. Well, aren't I the clever one! It's all about how the evidence is interpreted......evidence remains the same, interpretations differ. And get a politician on the end of any evidence and you can be damn sure that the interpretation that signals an easy tax-raising route will become the accepted interpretation of the day. Nothing to do with science.....ALL to do with politics. Want a grant to study the nesting instincts of the lesser headed grubel-warbler and its habitat in Islington? Just submit it under the heading: The effect of global warming on the nesting instincts of the lesser-headed grubel-warbler etc etc......
  15. Good question. It seems to me that RPI is on an upward trajectory that requires interest rates to be raised. Counter-balancing that is the need for interest rates to be lowered to offset contracting growth. Governments can afford a little bit of inflation, but too much and they risk debasing the currency and a subsequent flight of capital which is deflationary anyway. But how much inflation is TOO much? For how long can the real inflation rate be disguised? Governments are walking the edge of a volcano as they try to determine the "litlle bit" of inflation that will keep the wheels of the economy turning, and the "big bit" of inflation that will tip the economy into the burning, fiery furnace. At least, that's how I understand the present predicament, but I'm just an interested observer - a financial novice. As always, I'm grateful for your knowledgeable posts, so if what I say is rubbish, I'd be more than pleased to hear where I've got it wrong. I really want to learn.
  16. Get the right bacterium and it will feed on anything. My engineer husband once worked on a project that was using bacteria to eat oil spills.
  17. Mankind is an arrogant race, is it not! They even believe they can change the climate! Never mind the ice age, the little ice age, the warming and cooling cycles that have occurred throughout history....oh, no, it has to be under the control of puny men! Men can make the climate warmer and men can all get together and cool it down again. Yeah! Pull the other one, it's got bells on. FYI, CO 2 is a lagging indicator - it FOLLOWS warming (caused by heightened activity in the sun) it does not PRECEDE warming.
  18. Well, they've done smoking, global warming is doing pretty well as a firghtener to persuade the sheep that handing their cash to rapacious governments is in their own best interest, so what next? Alcohol didn't work - ended up with prohibition which = no tax. Hmmm, what else? Junk food looks like a good candidate for tax raising - it's all in your interest..... Or what about demonising the internet (paedophiles lurk there, dontchaknow) and then taxing broadband? Now that would be an interesting one.....
  19. I wonder whether underwriting NR's debts will be in future times viewed by historians as the stupidest thing done, by the stupidest Chancellor of the Exchequer under the direction of the stupidest Prime Minister, in the history of the UK. I suppose its one way to make sure your name stands out in the history books.
  20. I tend to agree. And credit card debt is unsecured, so sooner or later the banks are going to take another big hit - as if the toxic waste that is CDO's were not enough. There will be no value in the BTLer's properties, his credit cards will be maxed, so bankruptcy will be the only place left to go.
  21. My father bought two building plots C1945 in Godalming Surrey and built two large detached houses - one for his elderly parents (whose business had gone bust in the depression and who'd had to rent thereafter) and one for his wife to be - my mother. Cost him £450 per house including plots. He saved the money (even though he was on a very modest salary and it took him until he was 40yrs of age) and paid cash. I bought my first house in 1972 for £5,500 when my husband and I were on a joint income of c£3,000. I notice that the next door house sold in September 07 for £174,000.
  22. Buy a property for £100K on a 95% mortgage. Wait for inflation to push up value of property to £105K. Withdraw £5K equity and purchse property no 2 on 95% mortgage etc etc. Portfolios are expanded by keeping properties mortgaged to the max and investing withdrawn equity into subsequent properties. Therefore it only takes a 5% fall in house prices to wipe out a portfolio of 200 or 2000 or 2 million properties thus financed.
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