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doahh

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Everything posted by doahh

  1. After thinking about this a bit and finding the figures below I have to conclude that you are probably right. Someone earning an average of £24k a year for 30 years will pay back £17,280 plus maybe an amount to cover the increase due to interest as times moves through those 30 years. At an average of £30K income a year the amount paid back seems to be £33,480 which equates to about 4% of their monthly take home pay. Plan 1: Example student loan payments Annual income (before tax) Monthly income Monthly repayment Up to £17,495 £1,457 None £18,500 £1,541 £7 £21,000 £1,750 £26 £24,000 £2,000 £48 £27,000 £2,250 £71 £30,000 £2,500 £93
  2. The student debt issue came up in a conversation I had with someone recently who throught that the debt was OK as most will never pay it off. She couldn't understand that the monthly payments were still a problem. I used this calculator after reading that article: Annual tuition fee: £9,250 Annual maintenance loan: £8,200 (max non-London) Course length: 3 years Expected salary: £25,000 which would give a total amount borrowed of £51,600, and with the average interest accrued by the end of the course (given by the article) being £5,800 we get the total at £57,400. That figure is the one stated in the article as the amount the poorest will graduate with. The calculator then gave these results: Loan at start: £55,742 Total repayments: £81,286 Repayment term: 30 years Initial loan repaid: 94% Over the 30 year term this amount to an average of £225 a month, every month for most of their working lives. While the loan is not fully repaid, 94% of the capital amount is. The person I had the conversation with receives the maximum incapacity benefits (over £250 per week) and won't be reassessed for 10 years; votes Conservative as her dad benefited from right-to-buy in the 70-80's; and thinks that all British young people are bone idle scroungers, which according to her is why we need immigration. There is nothin' like a bit of ignorance from those who are well looked after by the state! She is to ill to work, but she doesn't exactly have locked-in-syndrome either. She really does show a lot of gratitude to those who are/will be paying for her care. For the student, I assume they would need to forego a house or a pension or both - nice choice(s).
  3. http://www.zerohedge.com/news/2017-06-07/spains-banco-popular-bailed-acquired-santander-€100 also more in the FT: https://www.ft.com/content/4fe8680a-4b53-11e7-a3f4-c742b9791d43 Sounds like a lot of positive spin being put on this. It certainly shows how they intend to pay for the next crisis. Surely that must have an effect on the amount that people hold under any one banking licence. Could that be a trigger for people to move money out of the banks and hence start a run into other assets?
  4. Here is my parade of violins for them: ..........
  5. Any idea the price range of the properties, deposit and/or his salary? 100K less of a mortgage is a lot around the average but not so much around the £1m+ mark.
  6. There is a comment under the article that suggests there is an alternative but it is not yet in place:
  7. https://www.rt.com/shows/renegade-inc/387555-gentrification-alternative-socially-cleansed/ A great piece on RT at 1:30pm today regarding house prices causing gentrification. An estate agent (with a good attitude) having his profession called unethical to his face and a researcher into displacment caused by house prices stating rises in suicide, depression and drug use. Moves onto discussing Community Land Trusts and LVT. I don't think I would ever see something like this outside of RT, the BBC should hang there heads in shame.
  8. I have not played it either. However, but I think it is said that it requires intuition as well as logic due to the huge number of possible outcomes that can occur. I wasn't suggesting that the AlphaGo could be compared to Van Gogh, Beethoven or Dickens - apples and oranges etc. However, if AI is already showing creativity then it would suggest that maybe it won't be so long before it can create artwork that I would be happy to hang on my wall, music that I would be happy to listen to; though for some reason I think that it may be harder for it to write a book I would read. If that situation comes about then most jobs would be redundent which is opposite to the link you provided and Sandwiches33's position. Hence the discussion to see if you can change my POV. This photo is transformed by AI and I would be happy to have it on my wall as one of those chepo canvas prints: A good point. The only reason to learn to paint is as a meditation, most artists could not make a living anymore. Hopefully your Iain Banks world will come about
  9. The link is talking about intelligence destroying jobs while the original proposition was about creativity destroying jobs. We may not have AI that can replicate human (or any other type of) intelligence, but intelligence is not necessary to destroy jobs. You mention emotional projection. If only something with emotion can project emotions, then you are right - a computer may never be able to do that. But if the aim is for an AI to create emotions in a receiver (a human) then AlphaGo appeared to do that. AlphaGo amazed the worlds top players by being different and original, both of those being criteria in your comment. If AlphaGo can beat the best human players by being creative (assuming the definition of creative is to extract an emotional response from a human), then I would postulate that they will eventually also create music, books and artwork that will extract an emotional response from humans. That wouldn't necessarily make them intelligent but it would make them creative and hence a threat to those jobs.
  10. Great posts Sandwiches33, regarding creativity you said: There maybe a difference between music where the rules can evolve and the game Go where the rules are fixed and only the strategy can evolve. However, in the AlphaGo match my understanding is that the AI made an early move that made no sense to even the most expert human players: Later on in the game the AI went on to use that move as a key strategy to enable it to win the match. Your posts suggest that you believe one aspect of creativity to be the ability to create an emotional responce in a human. From the quoted section of the article I would say that the commentators had an emotional response to the AI. Would you consider the AI to be true creativity, and if not what real world example do you think should be considered true creativity from an AI? A friend once said that he would believe that an AI was conscious when it could meditate! Although creativity and consiousness are not the same.
  11. The article did state that she learned to do scale drawings and blueprints herself. I am not sure how that works as surely knowledge of architecture is required to be able to do that. As a Mail story I have my doubts it is the whole truth but for a exceptional person, it could be true.
  12. They are subject to currency controls and can't get their money out as easily any more. Vancouver has recently had a drop of ~50% in sales of 3-bed houses, possibly in part for this reason.
  13. It seems that this time the US debt ceiling suspension order was not renewed: Since 2011 the US has simply been increasing the limit under a clause in the Budget Control Act. That clause has been allowed to lapse and now Trump will need to find a way to get the 218 additional votes he needs to increase borrowing from fiscal conservatives. He seems to be between a rock-and-a-hard-place with the electorate to whom he made promises not to cut Social Security and Medicare, and the House of Representatives who seem to want budget cuts. A deal will almost certainly be made before the 8-12 months of cash that the US has is spent, but it could cost Trump dearly in reputation and the markets may react negativly. Anyone with an opinion on the importance of this?
  14. Just that extra-touch of luxury so that you can really call it home. I am pretty sure the physical control is within reaching distance in many cases; but nope, must use a smart phone because now I'm a home-owner and I've made it to the first (and probably the last) rung of the ladder.
  15. I guess this is where sentient AI would eventually become a tool that would be deployed. However, we would have to ensure that the AI was created in such a way that it wanted to do this job that humans either don't want or can't afford to do. At this point we are creating a race of slaves to do our work for us. I wonder who thinks that is a good idea?
  16. Thanks. It looks like I misunderstood the meaning of commercial, I thought it meant a company renting a premisis to trade from. It sounds like ATED is aimed at foreign investors who don't put a tenent in the property.
  17. A reply to another open letter got my schaffensfreude gland working overtime: This has probably already been dissected but another P118 calamity is the introduction of ATED for landlords with a portfolio of over £500,000. It appears to apply to all residential properties with very few exclusions. I never realised that P118 was so much fun!
  18. It is quite an old article, dated 23rd July 2014. I was wondering what effect the benefit cap has had on them and then found this: https://www.gov.uk/benefit-cap/overview There is of course always going to be at least a small minority who can be singled out as living of the state, a few stories like this is nothing to get to worked up about.
  19. I assume that their low earnings entitle them to claim HB in their own right, not just the childs. I see the term benefits as being being used to spin the idea that people are feckless. Social Security better depicts the idea that it is an insurance policy against a government that has failed to provide sufficient renumeration for work done.
  20. I just ran an aquantainces Social Security payments (I refuse to call it benefits) through the EntitledTo calculator as their youngest is about to go off to university at the end of this year. I was a little surprised to find that they will be losing ~£6,851, and almost certainly the £2,400 the father pays in maintenance. A total of £9,251. This is a huge amount of cash to lose and for the government to be paying out. I am a supporter of UBI, and so while I think the mechanism of TC is very biased I am not totally against some payments out to people; based on the fact that they are born into a country who's primary asset is land, but get no share in that land. Here are the calculations: With 1 child: Tax Credits £8,110.30 Housing Benefit £7,090.94 Child Benefit £1,076.40 Total Entitlements £16,277.64 With 0 children and NOT moved to UC as earning over £80 per week: Tax Credits £2,770.35 Council Tax Reduction £637.12 Housing Benefit £7,034.88 Total Entitlements £10,442.35 With 0 children and moved to UC as earning under £80 per week: Total Entitlements £9,426.35
  21. A further move towards privatisation of the NHS rather than an attempt to recoup the apparent £400m tax that is apparently going unpaid?
  22. That's a interesting point. I would say that: The IO loan is wiped out by the purchaser, which is deflationary; The cash buyer does not replace the IO loan as the money already exists, giving a relatively big deflation effect; The OO using capital repayment does replace the IO loan but slowly pays it down which is deflationary over the mortgage term.
  23. Only £183K left over to buy a place in Newcastle. My brother just bought a 2 bed end of terrace for ~£60 in Sunderland. Here are some nice enough places in Newcastle: £72K http://www.rightmove.co.uk/property-for-sale/property-43821936.html £100K http://www.rightmove.co.uk/property-for-sale/property-51607579.html £100K http://www.rightmove.co.uk/property-for-sale/property-42473802.html These would leave them with a good £50K after moving costs to continue funding their retirement. They will still have cleared a £106K profit from their property when you include the £33K loan. That means they got to live in their current property for £19K + maybe an additional £125K in interest payments, a cost of about £5,760 per year. Currently today they may have to pay ~£10K to rent the a similar property. So they have saved maybe £100K in rent in their lives. I wish someone would give me a £100K to live in a 3 bed detached property.
  24. I haven't got any better links to confirm this so it may be post-truth or aka: bo11ock arsed lies but ... From ZeroHedge: Holy crap! What a list of people to be prosecuted. Ex-president of the IMF; Current head of the BIS Financial Stability Institute; Deloitte. This really does sound like something from an Illumanati conspriacy: "What should we call this load of toxic crap?" "Well, it is made from 7 other peices of crap and it will be a walking zobmie - so why not call it Frankenbank" "Isn't that a little to obvious" "No, hide it in plain site. They are all Tuckin mugs and we are untouchable!" "OK, Frankenbank it is then" ROFLOL all round.
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