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Executive Sadman

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Everything posted by Executive Sadman

  1. I dont know, ive had enough Labour/Redken drones describe to me the wonderful amazingness and sheer brilliance of the games and our fine labour overlords ability to secure them for us with no bribes whatsoever. (while at the same time managing to not go into any detail as to why the games are so important - other than being a condensed debtfest of unparalleled magnitude.) Of course, once the economy is in the sh*tter they will hopefully stop and realise the error of their ways. Ive nothing against these events, just cant we go for one that actually pays for itself like the world cup or euro thingy (or do we have to actually win a game to secure those?)
  2. 1. They probably depend on government for their income anyway. Theyll be rubbing their hands with the olympics. Its a huge undertaking afterall. 2. The government has spent all our cash (and then some). Theyll just add it to the national mortgage/debt. 3. If the workers are anything like the ones in Dubai theyll probably have no problem squashing into some old caravan beneath an underpass. The olympics will go ahead, vastly over budget maybe, but politicians love these little follies.
  3. I read a report in the Sunday Times this weekend about offshore bank accounts (not sure why they have to be offshore!) that rather than paying interest income the interest is paid out as dividend income and so attracts either 10% or 32.5% tax rather than 20/40% tax on conventional accounts. Does anyone know of any companies offering these accounts at competitive interest rates? edit: here is article http://business.timesonline.co.uk/tol/busi...icle3779318.ece
  4. There seem to be a lot of small new developments going up around my way. I guess a lot of small developers and people selling off garden plots are chancing it by leaving it to the last minute in an attempt to milk every last bit off profit out of it (although in doing so may have left it a little too late) Nothing less appealing than these daft larger scale treeless 'mews/townhouse' type developments on weeny plots the large developers seem to love knocking up, i figure resale homes would sell a lot better in any downturn?
  5. Looks nice. Thats the kind of house id aspire to own.
  6. At least if they manage to sell the recent strength of the Euro should mitigate their losses.
  7. I guess it depends what other flats in the building are going for. Im in no rush to buy personally, but im always looking. You can overpay at the bottom of a cycle, and im sure get a bargain at the top. Just look at any large estate or development on rightmove, often the same housetype/flat from two different vendors will be offered at vastly different prices.
  8. How to people like kirsty get appointed? At some half drunk notting hill dinner party/chinwag? I cant see Kirsty engaging dave in deep economic dialogue somehow.
  9. Can i become a bank and 'invent' some dodgy loans? I wouldnt mind some money back from the govt. But seriously how open is it to abuse? Swapping unknown debts for guaranteed debts, surely theres a lot of scope for abuse. This is the government afterall that has just found it was ripped of by over 100 large construction firms (good luck getting the money back)
  10. I love the way the government describes this as 'restoring normality to the credit markets', as if there is anything normal about lending upto 125% of a properties value, at interest rates as low as 4-5% and with little bearing on the debtors ability to pay through earnings or yield. These past 5 or so years have been extraordinary times, and anything but normal. This whole thing will only help the banks imo. It will restore confidence in the banks. I cant see it rescueing houseprices as the government will only become a holder of mortgages, not an issuer. And the housing market needs continual new money injections to keep it afloat. Unless the banks really do hate their shareholders and enjoy going begging to the government they are not going to provide that new money. Of course i may be wrong, its easy to underestimate the BBC/property spin machine. Theyve been able to convince people this long. either way its a gross and obscene waste of taxpayer resources.
  11. My last job the basic wage was £16500, but if you were willing to work lates and weekend you could literally earn 3 times this amount due to high overtime rates. It was call centre work, so i never did overtime to ensure my sanity stayed intact, but many people did. Not much of a life imo, and all of those people working all hours either had debts, mortgages, some hugely expensive wedding to pay for.
  12. 51-55 look like they were once big family houses in a nice street, but being auctioned by the local council. Makes you wonder what else the council owns/ lets out, anything on st. georges hill?
  13. Why dont some banks accept transfers in? Surely they either want our money or they dont?!
  14. I want to know how all these property developers seem to make so much money yet seem so close to collapse. Credit is one thing, although i reckon there is also a lot of bribes/corruption/ off balance sheet expenses. Every now and then developments around here crop up in the middle of nowhere and outside development boundarys. If any self build individual wanted to build themselves a single home theyd be turned flat down. Ironically it seems easier to get permission for 20 or 30 homes.
  15. I have to say im skeptical about all these Range Rover Sports and Porsche Boxers being evidence of MEW. They are expensive, but not as much as they were. I rememeber back in the early 90s my old man spent mid 20k's on a specced up Audi 100. Today a similarly equipped/powered Audi A6 would cost...mid 20k's. More people who would of driven Ford Granadas or Carltons 15 or so years ago are now driving Cayennes or Range Rover Sports because they are in real terms not much more expensive, and companies like ford probably discontinued the Granada to make way for things like the Jag s type and Range sport.
  16. Whats the total of these BOE 'releases' now? Hardly a week seems to go by without £5, 10 15bn being 'released' here or there. Am i right in thinking they are only short term loans measured in weeks or months?
  17. I might also add that theyre not great from a Tax pov either, any growth will be treated as normal savings income, whereas a tracker could be counted under CGT + if you are a higher rate taxpayer some dividend income could be given tax relief in an ISA.
  18. I just had issue 4 of these mature. When i invested in 2003 i was a very financially naive 19 year old, and a tracker would of probably been a better bet, with dividends reinvested and the ability to cash in when you see fit. A year or so ago Citibank or so other big american bank iirc did short term GEBs (3 or 6 month) which i thought would be a great way to spend all those 6 month interest free credit card offers. I guess that could still work out if someone offers this product. I guess it all depends on whether you think the stock market will rise 70% in five years. Back in 2003 when i invested the market was around 3800 and i thought the maximum return of 60% was pretty much a guaranteed increase (actually back then i thought the FTSE 100 would have been up around 8000 or 9000 today, wish id bought a 250 tracker instead) Luckily for me the maximum return was 60% and according to the statement they sent me the index increased by 59.68%, which equates to 9% or so. At times in the past few years ive seen savings returns fall to as little as 4.1% with ING so i guess it worked out ok. I dont think the 100 will be 70% higher in 5 years time though.
  19. I read not long ago that millions of hectares of prime agricultural land in Russia/Ukraine is laying fallow, and there is some sort of political motive behind it, they are using it I fail to believe that so soon after having various 'food mountains' in the EU that we are a world on the brink of starvation. There must be some speculative element somewhere along the line. http://www.theage.com.au/news/in-depth/a-w...456.html?page=3 This article says planted crop area has fallen 12% since soviet times, although doesnt touch on political motivations, it does say production yields are far lower than the US, so im sure theres some slack there. Needless to say, i doubt if western europe was actually starving the russians would care a jot. They dont seem to care if Ukrainians freeze to death anyway.
  20. Why is VAT charged on silver, is there any way to get round it?
  21. I believe South Africa has a lot of energy problems at the moment, that the current government shows little leadership over and will probably continue to get worse. Prices have risen there a lot there, but i wonder how much of it has been speculative, i know some telly shows over here have been pushing it. I personally wouldnt go there, mainly because of AIDS and crime and id imagine that would limit its appeal.
  22. Isnt it a fact that at any given time we're no more than a yard or so from a rat. Needs must i suppose, but anythings got to be better than eating nothing but rabbit food. If it came to it, theres plenty of birds, small animals that could be caught and eaten with nothing more than crossbow and fire. Anecdotally, the price of my weekly BK hamburger meal recently went up from £2.14 to £2.34 (im not really one to push the boat out) although i cant remember it being raised for at least 2 years before that. Pence per calorie BK hamburger meals are pretty much unbeatable.
  23. ta, i "think" i have £10k or so in the account, although the 16 year old behind the till in Lloyds didnt look too convincing when i handed her over the ISA transfer form. So maybe i'll put one in the post too.
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