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Everything posted by Velgud

  1. There was a cover story on this issue recently by Time Magazine. The gist of it was that Biofuel - in particular Ethanol - would damage the environment: Soya Bean farmers in the US are changing their crop to Corn (to sell for Ethanol production) Which in turn pushes up the value of Soya Beans - less supply This increased value encourages South American farmers to grow Soya Bean The rain forests are cut down for Soya Bean production The rain forests hold huge levels of carbon Basically it's a total mess... here's the full story (with a rather disturbing picture) http://www.time.com/time/magazine/article/...25975-1,00.html
  2. OMG that is the funniest new word I have heard in ages! Excellent
  3. Just to play devil's advocate here... Surely if you had bought a house in 2004 for £166k it would have been valued at the end of 2007 higher than £197k, so if you end up waiting until December 09 for such a correction, are you really any better off?!
  4. About 2 years if I tightened the purse strings However I do have an extremely sexy girlfriend I could pimp out if things got really tough (the oldest and thus most reliable profession!)
  5. hehe.. Hi guys, I live in Exeter and am interested in this competition. One of my tricks is to climb up a high diving board and jump off landing into a huge barrel of sh1t. I can then stand up to my neck in it... Sounds like a good fit? Look forward to hearing your reply. Many thanks in advance. Velgud, Exeter
  6. LOL! What the hell is that?! ha! Don't tell me, they are allergic to gold right?
  7. I agree. There is a huge lack of community spirit these days and most people seem to be in the game only for themselves. This attitude is a disgrace and certainly there is huge room for improvement. My earlier response was simply trying to give some balance by saying that things aren't actually that bad. Many people on this forum have such a gloomy outlook on life and seem determined to believe that society is going to collapse in on itself and we are going to end up in some sort of Mad Max world which is frankly ridiculous. I just wanted to explain that not everyone within the subject peer group is completely disillusioned. I also agree with you that prevention is far better than cure but where I believe our views differ is that I believe people should first look further inwards before blaming the government which is always the easy target. Of course our society is not perfect, but has it ever been? Have our people ever been content with those in power? I very much doubt it.
  8. On a side note, Maybe all of the bitter people here can comfort themselves knowing that the baby boomer generation will soon need nursing and health care but will get bare minimum as all the disillusioned tax payers will have left this country for greener pastures...? Nah! they'll still be here, still be bitter, still be moaning and still be doing sod all to better their situation:lol:
  9. I beg to differ, I would say my experiences are absolutely typical of my generation. My parents split up when I was 15 when my father had a mid life crisis and screwed his secretary. I went off the rails and turned to drugs and booze like practically all my peers did - not through self pity, possibly from a lack of discipline but mostly to simply escape boredom and have some fun. My habits were funded by working part time in a soul destroying distribution warehouse for M+S. After that I worked on a YTS scheme for a builders merchant. My mother could hardly afford to pay the bills and certainly didn't have the money to fund my "druggie lifestyle". After choosing to better myself and completing the required Access course, I funded my university degree with a student loan and a part time evening/weekend job working from 5pm-10pm every weekday and on Saturdays. I found this job with relative ease. The student loan was available to me as a mature student as it would have been for any of my peers. I had plenty of sleepless nights where I would find myself in tears worrying about how I was going to keep juggling work with ever increasing study demands. But what doesn't kill you, makes you stronger. 8 years on and my experience is still highly typical of my generation... Last night I had another argument with my girlfriend about her credit card spending. At the weekend I went for some drinks with my best friend who has a 105% interest only mortgage with Northern Rock on a 2 bed terrace he bought at the peak of the market - he used the other 5% to pay off credit cards and buy a 50" plasma tv - he is now sh1tting his pants about his forthcoming mortgage payment revision. 2 months ago I was in hospital visiting my sister who had just tried to kill herself for the second time in three months due to anxiety and eating disorders brought on by the demands and expectations forced upon her by her peers and the media. How more typical do you want?! Yet I am absolutely not going to waste my time and energy playing victim, feeling sorry for myself and blaming the system when both myself, (and using the above references) my girlfriend, my best friend and my sister have all had sufficient opportunity to survive, and better still, to thrive. Contrary to popular belief, the world does not owe our generation a living. Nor is the government completely to blame for our downfalls. We live and die by our decisions, we make our own luck and sh1t often happens. No matter how bad you feel your situation is, and no matter how sorry you want to feel for yourself, the bottom line is that you are still in control are still most likely better off than 98% of the world's population. So be a man about it, quit whining and concentrate on making your life more positive.
  10. Speaking as someone slightly younger than the original poster, I have to disagree with the whole parent envy feeling. The grass is always greener on the other side and everyone (particularly us English) like a good moan. I very much doubt his/her parents had it easier at all, and suspect the biggest difference is simply that the goalposts have moved. My generation of late twenty-somethings generally feel like the world owes us a living. Fueled by the media advertising lifestyle brands, we generally expect alot more than previous generations and also expect it alot faster. I suspect my parents would purchase a sofa second hand from the local classifieds, have one handed down from my grandparents or save for a year to buy one brand new. They certainly wouldn't have popped into DFS and bought a 'designer' one on the same day as they desired it on interest free credit for 4 years with nothing to pay for one year. That's our problem... everything has been too easy and we expect it to continue. And the irony of it all is that those who had it the easiest are those who will suffer the most as those people are shackled the most with personal debt. As sorry as I feel for alot of my peers, I also know that everyone has a choice. They didn't need to sign up for the credit card and use it to finance their booze sessions in Ibiza, they didn't need to purchase a V8 chav-mobile on 8% APR and they didn't need to have everything brand new instantly to keep up with the rest of their friends who also shot themselves in the foot. Just because the honeymoon period is now over and most people my age are now the victims of a credit fueled 'must have now' society, it certainly doesn't mean they have had it harder than their respective parents over the last decade. If anything, they have had it easier. If I compare my situation to that of my parents, I am damn sure I have had it easier than them: I was able to study computer science at university as a 22 year old mature student after spending the age of 16-22 smoking dope, taking pills and binge drinking myself into oblivion for 6 years. Could my parents have done that? Certainly not, back then you got a job and that was that. I was able to move to Rome and live there for three years working as a freelance graphic designer. Could my parents have done that? Highly unlikely as technology back then didn't encourage as much freelance work. I moved back to UK and due to being out of the country and self employed I couldn't qualify for a normal mortgage so purchased a 50% shared ownership flat in the city centre (and fully aware of the general perception of such properties on HPC, I actually love my apartment - it's of a great build quality, good size and absolutely fantastically situated). Would my parents have had that opportunity? No. I live in Exeter but work for a Mayfair based marketing company, working remotely from home and travelling up there once a fortnight. Living in Devon while earning London wages has allowed me to clear all my debts and this time next year I will have paid off the mortgage I took for the 50% of my flat. Once paid off, I will move abroad to a cheaper, warmer location and continue to earn London wages. Did my parents have such an opportunity? No, absolutely not. My mother still has over £30k on her mortgage after a lifetime of earning humble wages and seeing her endowment policy fall short. I will soon begin investing my savings and will have a great chance of achieving a good return due to the knowledge passed on to me through this website and other forums, plus the endless information available to me through other internet resources. Did my parents have that opportunity? No, of course not, the internet didn't even exist. To summarise, I am generally very happy, secure and stabile. While I started life with very little, had minimal support, no financial assistance and spent my teen years (and alot of my early twenties) going in what most would consider to be 'the wrong direction'. Sorry guys, I don't mean to ramble on and I'm certainly not trying to 'big up' my generally positive situation. But what I do want to do is emphasize that not everyone in my generation is a slave to the system with a completely bleak future. There are plenty of opportunities available to most people who have the determination, drive and self belief to survive but a big problem with our society is that most of my peers have grown up watching Paris Hilton and the like and expect the same lifestyle/effort ratios which frankly is completely ridiculous. I don't mean to bash the original poster, but his attitude is a great representation of our problem. Everyone these days is a victim and no-one wants to help themselves. The biggest difference, in my opinion, is that 25-30 year olds of my parents generation were men and the majority in this day and age are still little boys who feel the world owes them a living. I'm not trying to patronise anyone here, I just wanted to offer a different perception from someone of the same generation as the original poster and emphasise that the present, and as equally important, the future, is not as dire a picture as most would like to paint. Certainly I am not envious of my parents and neither am I bitter towards any of the baby boomer generation who have benefited from a 'positive' economy. The quicker people start to look at their own weaknesses rather than look at blaming others, the better we will all be.
  11. Many thanks for your time taken to enter this information, most appreciated. I earlier found this document which I thought may interest you http://www.kitco.com/reports/fortis-vm/for...Silver_Book.pdf Thanks again
  12. Not at all, I'm one of the only people within my peer group who can afford a home and have now almost cleared my mortgage. My income is around 15 times my outgoings. I have a good life and I'm neither bitter nor depressed. What I am though is concerned for the majority of my peers whom generally have tough and instable lifestyles. While I accept their decision making must shoulder alot of the blame, I feel strongly that our current government is a total farce and the laws in place create more than just ill feeling. The attitude shown in your response is a good representation of the problems our society face, you tell me to look at my own priorities as if that should always be placed higher than the concerns I have for my friends, family and community. Maybe it is you who should look at your own priorities.
  13. Not at all, I'm one of the only people within my peer group who can afford a home and have now almost cleared my mortgage. My income is around 15 times my outgoings. I have a good life and I'm neither bitter nor depressed. What I am though is concerned for the majority of my peers whom generally have tough and instable lifestyles While I accept their decision making must shoulder alot of the blame, I feel strongly that our current government is a total farce and the laws in place create more than just ill feeling. The attitude shown in your response is the a good representation of the problems our society face, you tell me to look at my own priorities as if that should always be placed higher than the concerns I have for my friends, family and community. Maybe it is you who should look at your own priorities.
  14. I just read an article on the Wilsons. I absolutely detest the 'ethics' of BTL empires and feel they are a major contributor to alot of the depression that people of my generation are suffering from - many of my friends cannot get on the property ladder and so have no security, they have nothing to build on, and so bury their heads in the sand with increased credit card debt from purchasing low value material items as cannot realistically aim for anything higher. It's a vicious circle. It's a very sad state of affairs but ultimately everyone has a choice and in my opinion there are more idiots and whingers who have created their own problems than there are true victims. So maybe some of you guys should be a little more objective here.. apparently Mr Wilson had £10k in the bank in 1996... maybe you should give a little bit of credit where it's due? (and certainly there will be some credit due soon lol) Instead of arranging some kind of cyber mob hate campaign against one couple, why not focus a little more on the bigger picture? How about arrange a scheduled national strike for ALL UK paying tennants? There is a just cause: house price corrections to allow families to live near each other and rebuild our communities. There are plenty of ways to virally market such a campaign.. Imagine if you were a buy to let landlord holding 30 properties and thinking about getting out of the game. You knew that in the first week of July ALL of your tenants were not going to pay rent for the month... would you sell up quicker and cheaper? Perhaps..
  15. Hi everyone, I'm relatively new to HPC and am quite young and very inexperienced in economics. As almost everyone on this board, I firmly believe there will be a significant house price correction, but also feel that we are going to see a considerable amount of inflation over the next few years. I am an absolute novice in terms of investing, literally, I have never before invested in anything other than myself (learning new skills etc). I have spent the last couple of years trying to clear my mortgage balance and am almost there, but now feel the time is right to slow up on the balance payments and start using some of the saved money to invest in inflation beating investments. Pre Christmas I had hoped to buy gold but had a few slow business payments and by the time I received them gold shot from 784 to around 900 and is now around 960. I dont know enough about gold investment but common sense would suggest I have somewhat missed the boat. The more I read, the more I feel that silver is the way forward and I am considering to soon buy around 15kg. I like the idea that it is a utility as well as a precious metal. Most notably its uses in computers and other techs (China demand), war machines (US demand lol) and medical equipment (European demand). I also believe that demand is increasingly higher in ratio to supply and therefore would presume that regardless of a predicted drop in value of our monetary systems that silver should continually rise. So it would seem the lower geared gamble is a relatively safe bet and the higher geared gamble would be a welcome bonus. My concerns are that during a recession, I can only presume that Western demand for jewelery and electronics would fall considerably. Therefore I think that before I make any firm decisions on what to do I should learn the usage ratios of silver, i.e. what percentages of silver is used in each industry and continent. I have already searched for these answers but am having little joy in finding the answers. I assure you that I would help myself if I could! Sorry to babble on somewhat, I'm a young lad with no experience and simply trying to help myself as best as possible in preparation for what appears to be quite a bleak economic future! Any advice would be warmly welcomed Many thanks in advance
  16. Ha! no, my monthly payments are less than £150 now, I've been reading these forums alot This was to reduce the balance! Yes exactly, I asked them to generate a bankers cheque and waive the fee. I could have sorted it over the phone or online but it was one of those days where I was determined to clear my to do list and just wanted to get it sorted there and then while I was in town. I will presume you have never had the displeasure of Abbey's telephone banking!
  17. Hi everyone, Excuse my stupidity if this is a normal situation. I'm quite young and a newbie lurker in these forums and know little about banking procedures but certainly this seemed rather odd to me. I'm currently trying to clear my mortgage balance asap. I have a mortgage with Abbey and a current account and savings with Lloyds. I was in town for work and decided I may as well make my next mortgage payment. I transferred 11k from my savings to the current account (as didn't have a cheque book on me) and tried to pay my mortgage using my debit card. Abbey advised they couldn't do that, so I returned to Lloyds and asked to draw out the cash - the branches are less than 50 metres apart and frankly I wouldn't fancy the chances of someone trying to mug me anyway. Lloyds didn't have the cash! It was nothing to do with me not having sufficient ID - I have a business account manager there and am in the branch regularly, they simply did not have the money available. Is this normal? We are talking about the main High Street Lloyds branch in Exeter which is probably the biggest bank in a city of around 200,000 people. Maybe I am naive assuming that banks hold considerable amounts of money but I was absolutely shocked to hear they didn't even have that amount!
  18. Tell her to buy asap. In two years time, when her introductory mortgage rates have expired and she is a further £250 per month out of pocket and sitting on negative equity, she'll need all the overtime she can get... and then of course, negative equity won't be the only thing she will be sitting on
  19. I just read the post. Damn, I feel sorry for her (albeit that she created the problem herself with pure stupidity) I wanted to paste this reply to her, what a classic!! We's in a simliah predicurment. We bort a donky market and double yert with 'fresh air spacius toilet with views ovah the tundrer' in Magnoliar last yur. I's been poppin em out like a gud un sinss we got ere. Must be the air, but sum of em have got eyes like the locul boys, which is nice. Dwayne's always busi tryin to rownd up the donkys all day. Anyway, Dazza from Northun Roc sent us a messaj on a pijin last week. Sez our morgij is goin to go up unles we remorgij, an wat was awur new salaris? I ust to be a medicle secratry, but now I'm lookin aftuh the littl'uns, so I aint makin nuffin never no more. Dwayne's not bin so gud with donky sellin, we tried puttin flowers on the donkys and died sum of ems hair, an gave em colored contac lenzis and funki manes, but Dwayne's only sold one so far, in exchanj for sum beans, a jacket an a pipe. We bort our donkys for £25k each, so I reckon we've made 25k so far. Beans an jackets an that are pritty spensiv in Magnoliar, I reckon. Anyway. Dazza reckons we can onli get a morgij for 6k now, so we have to stick with the old one, but the new interest rate is 182%. Dazza sed sumfing about our legs if we cudn't pay, but I dint here it very good on the moby, Orinj ain't got so gud resepshun in Magnoliar. Anyway sori to go on.
  20. Hear hear, I absolutely 100% share your views. It really does upset me, especially when I see this 'disease' in friends and family members. Some of them are so grotesquely submerged within their bland consumer lives I cannot help but feel completely disconnected. An example: a friend of my girlfriend came over last night. She has recently bought a brand new 2 bedroom apartment for £190k with her boyfriend (oh dear). A few of her quotes: "I have no idea how we are going to make these payments, I cannot bare to think about it after 8pm as I cannot sleep all night afterwards, our council tax is £200 a month, we hardly ever have sex these days because we are always both so tired after our long day at work, do you like my new designer shoes, my boyfriend and I are test driving an A5 this weekend...." AAAARRRRRGGGGGHHHH!!!! How can she not see the problem?!?! Not only do I find such conversations utterly boring and tedious to the point I completely switch off, but I feel so sorry for these people. I am genuinely worried about where their lives will end up. There is a beautiful world out there, one which is not based on keeping up with the Jones' and hiding insecurities behind new designer labels. But it is not in a different location, it is simply within a different state of mind. However, as a previous poster already said, when I try to explain and enlighten those I care enough about to offer my advice, they are totally oblivious to the problem, pass me off as a little bit odd and carry on with their binge drinking or computer gaming. But why should they think there is a problem, if according to our media there isn't one? Well, they will hear it soon enough. It is inevitable. Not only are we due a total reform of our personal spending models, I am sure we are also due a total reform of our entire lifestyles and I agree that a recession maybe the catalyst for this change - I can only hope it is. I'm 30 in February and am considering to propose to my girlfriend, prepare for marriage and start a family. But we have a massive conflict of interest in that I am absolutely adamant I will not bring a child into this world while living in the UK. How can I be wrong when the majority of this nation is made up of Idols and the idle while the delusional in-betweens - the latter craving to be the former - fund their ambition with more and more debt and become more and more depressed. If there truly is a place left in England where the majority choose simplicity and morality, please oh please show me the path which leads away from my town of clones.
  21. Yeah agreed, the new car thing is merely just a passing fantasy that lasts for a maximum of one hour. I absolutely detest cars as they are a constant drain - my current one will soon be on Ebay for around 30% less than the Autotrader value just so I can get shot of it. I work from home and live in the city centre so rarely need it anyway - I honestly think it would be cheaper to just use taxis. A further point on what you said earlier about not letting the bar stewards get away with charging me standard variable rate. The predicament I have here is that I'm not sure if the remortgage would be worthwhile. I would be able to drop from the 7.8% down to say 5.9% if I'm lucky. Yet I would most likely be back on overpay charges and would get hit with a setup fee. Assuming I can clear the balance within one year, is there really any point? Sincerely, I absolutely detest lender interest and would minimise it in an instant were there any justification but given my circumstance it would seem that staying on SVR is the best option
  22. Ha! yes this is most certainly part of the 'improving my lifestyle' plan, although less of the chicks part as I already have a very beautiful girlfriend - who would rip my balls off if I said anything other than disagree with that comment Kicking back really does sound like a good plan, and the ironic thing is that all this skrimping and saving is so that ultimately I can do just that. Many thanks for the advice on the inflation beating assets, that in itself was justification to post the thread - I hadn't considered that at all. It's quite hard to comment further on that aspect as I really am clueless about investment but certainly am eager to learn so will read those books you recommend (already ordered on Amazon) and see where that takes me. Also thank you Reaper for your feedback.
  23. Awww, that's a sad story. I would give you my sympathy but you earlier took the p1ss in my other thread so you're getting none at all!!
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