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crashologist

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About crashologist

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  1. crashologist

    Only A Quarter Of All Graduates Will Pay Off Loans

    They keep changing the terms etc. It depends on when you took out the loans too - It was a friend of mine who told me that it was 4.4% (he has a pre-98 loan) that he has still not paid off. My loan was taken out before they brought in bursaries and has fluctuated over the past few years (see below) and has steadily increased as I continued studying in higher education. Yes you are correct - It's currently at 1.5% (http://www.slc.co.uk/statistics/facts%20and%20%20figures/index.html). This link shows the previous interest rates that they have applied: http://www.slc.co.uk/statistics/facts%20and%20%20figures/previous_interest_rates.html The terms when I took out my loan were that it was to be struck off at fifty. It will be interesting to find out if they have already had to write off any loans (i.e. for mature students who are now over fifty). The following article about the potential for underplaying student write-offs is worth a read: http://www.timeshighereducation.co.uk/story.asp?sectioncode=26&storycode=414183 There will obviously be regional differences in the ability to repay - linked to the availability of jobs. The government agenda is all about cuts but where is the investment and job creation? Unless you create jobs the debts cannot be repaid. The whole thing is a turning into a right old mess!
  2. crashologist

    Only A Quarter Of All Graduates Will Pay Off Loans

    yep, steady inflation over the next twenty years - keep stackin' the PMs.
  3. crashologist

    Only A Quarter Of All Graduates Will Pay Off Loans

    The interest rate is currently 4.4% (a doubling time of 15.75 years) - Interest rates are artificially low too. The debt is currently written off at fifty. I guess the country needs to find half a million jobs per year for each cohort of undergraduate students just to stand still. As the degree is gradually devalued (in terms of its ability for the holder to find suitable employment) it will have less power in terms of producing a job that pays a salary (over 15k and soon over 21k) to pay off the debt. Embarking on further study should lead to better emloyment prospects for early entrants. However, from the point of view of the taxpayer further study shortens the window of opportunity for repayment and reduces contributions towards the state pension. The debt write-off point at fifty will prove problematic.
  4. crashologist

    In Real Money, British House Prices Are Down By 70%

    To be fair the author has held this position now for a while: http://www.moneyweek.com/investments/precious-metals-and-gems/buy-gold---not-buy-to-let.aspx
  5. "But the Post Office still remains some way off being a genuine people’s bank, as its financial services will continue to be offered through its 50/50 joint venture with the Bank of Ireland, as it does not have its own banking licence." http://www.walesonline.co.uk/business-in-wales/business-news/2010/04/07/post-office-aiming-to-be-a-service-to-bank-on-91466-26186992/
  6. What happens when a tipping point is reached when more tax is generated from the public sector workers than from private sector workers?
  7. crashologist

    Working Tax Credits...can I Claim?

    Yes the self-employed (and the single) can claim working tax credits. My understanding is that it is calculated from your previous tax year though and not your current financial position. It is worthwhile claiming if you have for example been unemployed for a while and have decided to start out on your own.
  8. "The state pension is not a 'ponzi scheme" sounds like a jedi mind trick: Make your own minds up: http://en.wikipedia.org/wiki/Ponzi_scheme http://blogs.telegraph.co.uk/news/emmahartley/5994537/The_Ponzi_scheme_in_which_were_all_involved/
  9. crashologist

    British Town Centres In Crisis

    i'm noticing that quite a few independent local shops are gradually cutting their opening hours - opening at 10am etc or not at all on some mornings. Perhaps it's because they still have to pay wages even though the shop is open with no customers actually buying their goods?
  10. crashologist

    The Dollar, Sterling And The Euro.

    Like a Greek wedding?
  11. crashologist

    Cash Sniffing Dogs At Airports!

    'Money mutts' ? For all you gold bugs - beware of the gold diggers!
  12. crashologist

    The Myth Of Lack Of Supply...

    Looks like only the inflated prices can be included. The data should be available with the outliers included.
  13. crashologist

    The Myth Of Lack Of Supply...

    Yes, the demand for homes and the demand for property (as an investment class) are too different things. We have two customer categories. The UK housing market sits directly in the middle of the economy. Personally, there is just too much economic uncertainty for me so my position has not changed and I will be still sitting this out and waiting to see how things unfold. I recently read this quote from somewhere, think it was Gerard Minack from Morgan Stanley and it stuck in my mind: "leveraged investors owning leveraged companies that depend up on leveraged consumers" This means trouble to me in the short term and indirectly it could have implications for housing prices. Looks like pentup debt as well as pentup demand!
  14. crashologist

    The Myth Of Lack Of Supply...

    The demand for homes is there... but there's not much demand/appetite to buy (at current prices) due to: increased deposit requirements. job insecurity. lack of mortgages.
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