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Madhouse

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About Madhouse

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  1. I am a happy renter. The house I currently live in with my long term partner is in an affluent area in the north east of england and ideal for our current situation. - I have absolutly no worries about loosing my job. Should the worst come and I was shown the door - I can always fall back on savings and/or claim housing benefit. We live in a detached cottage for rent much less than mortgage interest would be and are able to put away savings etc. For us, the down side of renting is getting permission to do DIY/decorating and having 'full control' of the property. This is more down to landlord perceptions and the law of the land. On the plus side, we can always moan about broken boilers and windows to the landlord without fearing a hefty bill. Renting has always been the better option for me. No responsibilities of owning a house and the flexibility of moving elsewhere at the drop of a hat. Plus if we get 'bored' of the neighbourhoood, we can just lift sticks and move on. From a finding work POV, renting is the ideal situation. Most of Europe rent, only we in Blighty bother buying a house. In fact, the crown own all the land and property in this country - any property owner can be subject to a compulsory purchase order. As for investing in property, I would be better off spending it and enjoying myself rather than tying myself up to some foreign bank and having to cough up extra when some guy in london decides I have to. :angry: if I bought a house, I would have to pay extra to live somewhere plus always be worried the bank could snatch my 'investment' away if I lost my job. If my boiler/roof/walls broke, I would have to take a loan out to fix it. I would be S&%^&in myself now that if I lost my job I would be out on my AR5E. If I loose my job, it's a nice break from the rat race. So Why should I bother buying a house?
  2. I am a happy renter. The house I currently live in with my long term partner is in an affluent area in the north east of england and ideal for our current situation. - I have absolutly no worries about loosing my job. Should the worst come and I was shown the door - I can always fall back on savings and/or claim housing benefit. We live in a detached cottage for rent much less than mortgage interest would be and are able to put away savings etc. For us, the down side of renting is getting permission to do DIY/decorating and having 'full control' of the property. This is more down to landlord perceptions and the law of the land. On the plus side, we can always moan about broken boilers and windows to the landlord without fearing a hefty bill. Renting has always been the better option for me. No responsibilities of owning a house and the flexibility of moving elsewhere at the drop of a hat. Plus if we get 'bored' of the neighbourhoood, we can just lift sticks and move on. From a finding work POV, renting is the ideal situation. Most of Europe rent, only we in Blighty bother buying a house. In fact, the crown own all the land and property in this country - any property owner can be subject to a compulsory purchase order. As for investing in property, I would be better off spending it and enjoying myself rather than tying myself up to some foreign bank and having to cough up extra when some guy in london decides I have to. :angry: if I bought a house, I would have to pay extra to live somewhere plus always be worried the bank could snatch my 'investment' away if I lost my job. If my boiler/roof/walls broke, I would have to take a loan out to fix it. I would be S&%^&in myself now that if I lost my job I would be out on my AR5E. If I loose my job, it's a nice break from the rat race. So Why should I bother buying a house?
  3. Just watched this vid posted on another thread: http://www.youtube.com/watch?v=HDBbHufPoTM So if you follow what is said in this video, someone who has debt (credit cards, etc) has created money in the financial system. If everyone paid off their debts there would be no money. So with lots of people unable to pay their debts and defaulting on loans, money is being destroyed. One fix could be to enable ordinary folk to be able to service their debts. Enable them to have enougth money to not default on loans, mortgages etc (It's not too late in the UK yet) A dose of wage inflation would do this (give the £500 billion to the general population e.g. lower taxes, one off payment) The fix Gordon and Co is attempting is to recreate the money that has been destroyed by people defaulting on their debts. This in my view will only slow down the debt destruction that is occuring (the 'new' money will only replace money that has been destroyed) Therefore are we on a path to deflation of the money supply in the long term (until ordinary folk begin to borrow more money again)?
  4. The truth is that the whole financial system is based on debt. The original reason money was invented was to allow simple trade of goods and services with something that represented the value of those services. The money itself represents debt in that something is owed for the service done or goods traded. How have we got to the state where a financial industry swap money about all day against a set of made up rules that are percieved as being part of the physical world is insane. Money is simpy a abstract concept and the banks are simply playing a game. Why not restart the game or change the rules?
  5. I remember having to defrost my bed before getting into it on cold winter nights.
  6. And it will be worse than the 70's the way things are going
  7. Surely billions have already been given to the banks via behind the scenes Bank Of England loans. What with UK debt in trillions of pounds, how is another £50 billion going to solve everything when previous attempts have basically failed?
  8. It seems plain to me that there is plenty of secret stuff going on behind the scenes what with all the recent take overs of banks where there is no financial benefit to do so. The big guys at the top just want to keep their big houses and lavish lifestyles going.
  9. if HSBC went under, being a foreign bank, would the FSA cover the full 50k or is there a similar situation as with ICESAVE?
  10. Just checked the 6 I have in my change jar - 2 look somewhat dodgy , the other 4 well are probably high quality fakes . Now that the BBC has reported it, are shop keepers and the like going to be more vigilant? Best get them spent quick then on erm...... (scratches head)....what can you buy for a quid these days ?
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