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TalkingSense

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About TalkingSense

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  1. So, I guess we're all agreed on this forum that house price inflation began in late '90s and continued onwards due to deregulation of money creation by private banks. This includes Building Society de-mutualisation, and allowing banks into the residential mortgage market. I have since been following Prof Richard Werner, Prof Steve Keen and read Treasure Islands by Nicholas Shaxson. Also 'Debt: The First 500 Years' by David Graeber and 'Austerity, The History of a Really Bad Idea' is a great book too. There are 3 sources of creation of money: a) BOMD (Bank Originated Money and De
  2. Ruffles, yes I have been to many pre-start up meetings with loads of people bouncing of the walls about how wonderful their product concept is. Then they think they are doing us techies a favour by allowing us to implement (oh yes and do the fixed price estimate). The Channel 4 Fresh Meat sitcom had a lovely scene in which JP "invented" a new idea for a smart phone / shaver. He then toddled off to the resident geek and gave him £100 to build it. Classic line "what are you doing in the bar, go home and get to work, I own you ". Ho ho ! Apart from that, yes selling the product is key. I tot
  3. http://www.pearsonsauctions.com/results-from-auctions-in-hampshire A much lower percentage sold than previous auctions....
  4. One I have read (and it is a LOOONG read: Ayn Rand "Atlas Shrugged". http://en.wikipedia.org/wiki/Atlas_Shrugged "The book explores a dogmatic dystopian United States where many of society's most productive citizens refuse to be exploited by increasing taxation and government regulations and go on strike." Ayn was even rumoured to have had an affair with Alan Greenspan. This book was said to have inspired a lot of the silicon valley entrepreneurs like Steve Jobs. One I haven't read yet: The New Few by Ferdinand Mount http://www.amazon.co.uk/The-New-Few-British-Oligarchy/dp/1847378005
  5. Reading the Sunday Times today, I see some definite trends of finance bypassing banks. Lots of crowd funding like Funding Circle, Seedr and loads more. Encouraging people fed up with no interest to invest small amounts in startups. Also in the ST is the Fast Track 100, where a load of new businesses seem to be consuming mountains of investor cash. E.g. AlertMe who have burned £23m since 2005. So, is QE creating a bubble in early stage financing? And if yes will I be able to stitch together a pitch and jump on the gravy train? At least until IRs get back to normal in er....
  6. +1 Does this mean that the banks are finally starting to ramp up repo's?
  7. And Stacey ended with "... looking at the plight of these guys, it makes me think I should find out a bit more about economics and politics and get a bit more involved or we could end up like it in the UK". Admitedly, she came to fame in that reality prog "Blood Sweat and Tears" or something, looking into the human cost of our consumer society. Next week ... Japan, last week, Greece.
  8. Koala I love it. Also, my 14 yr old daughter and friends love Stacey Dooley and her Coming Here Soon progs. She is appealing to the next generation, and pointing out the stupidity of the housing boom. There is certainly hope.
  9. Conversation in the sailing club last night ... pensions are not returning anything, so BTL is still the only way to save for the future. Followed by lots of examples of acquantances with 3 or so BTLs. Then a Yank chipped in about a college mate who doesn't have to work any more with his 4 BTLs. I just kept quiet. Its like a religion amongst the 20 somethings, they do not have the time or inclination to understand the system.
  10. Posen in the opening speech addresses exactly housing bubbles and how they can be stopped and more importantly why the need to be stopped. About 30 mins in to his speech. It is just so refreshing to see a bunch of people who are actually pretty well connected talking about all the things we have been discussing here on HPC for 5 years or so. OK, check out the original videos on the JustBanking.org.uk website here. No distractions there... just plain speaking economics. Here's the list of speakers: Adam Posen Member of the Bank of England’s Monetary Policy Committee Keynote speech at t
  11. Fisman, that is exactly the type of ploy the establishment put in place to keep us from (being arsed to) learn the truth. Entirely understandable
  12. Now, if the politicians haven't got it yet I wonder why not ? Check out this video from Professor Richard Werner .He explains how banks create money and all the very obvious (to us anyway) reasons why modern economics is so flawed. The summary presentations from the JustBanking.or.uk conference in Edinburgh in April are very informative too: Complete with suggested solutions. E.g. put QE to social uses like a Green Investment Bank. Socially useful QE Spread the word - we can get through this to a better system : Meanwhile, some good arguments over on Newsblog about the absurdity of h
  13. I was thinking about this and how unfair it could be. Yes, people with debt vs no debt are in theory treated fairly. It would be very hard to make a debt jubilee that is fair across all circumstances when items other than debt and savings are incorporated, such as fixed incomes (investments/pensions), assets, wages etc
  14. Most interesting to see Japan with the cheapest housing. There is hope for us all, provided the appetite for debt from borrowers keeps low and banks remain zombie like.
  15. Profit comes from the interest charged on the loans (that are money created from thin air). So more loans = more profit for banks. As also described by the economist Steve Keen, see Figure 10 "Perverse Incentives". Profit is the difference between what the banks spend on running their business (salaries, buildings, legal fees etc) and what they charge to customers (fees, interest etc).
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