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Angry Rob

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About Angry Rob

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  1. Care to explain why an UK insurance company is responsible for the mess we are in? Queue complaints about with profits endowments shortfalls....
  2. Labour party plants. Every single week. Can someone explain why the Tory plans are receiving more scrutiny that the Labour ones? Will Self was at least right about the scale of the problems we are going to face over the next 5 years and that none of the parties are being honest with us.
  3. I'm not sure where the 20% comes from to be honest - a bit of a finger in the air? As I understand it, Solvency II as it looks currently will mean annuity providers having to have a larger capital buffer if they are holding corporate bonds. I'm no expert on this but in my opinion it means: - A disincentive for insurers to write annuities, leading to less competition, leading to worse annuity rates. - A disincentive for annuity providers to purchase corporate bonds. Now if we consider part of the spread on corporates is the liquidity premium (which UK insurers consider as a risk free premium for annuities since they aren't resold), then you lose this on the annuity rates offered. As I said, I'm no expert on bonds - perhaps someone else may be able to enlighten us on what a typical liquidity premium would be on corporates (if there is a way of separating it from the default risk).
  4. Yes, this has been in the pipeline for a while. It's quite a complicated issue. As I understand it, part of the increased reserves required for annuities is due to the liquidity spread on corporate bonds. The UK's point of view is that for annuities, this isn't an issue as you hold the bonds to maturity anyway, i.e. you don't try to sell them on. Unfortunately, the FSA is a joke in Europe and will be ignored, even though I tend to agree with them on this point.
  5. I've read the thread and you haven't explained how your policy will end the recession.
  6. You are being deliberately obtuse. Who said kicking people out of work would end the recession? Do you even know what a recession is? Please explain to me how your policy ends the recession. Please.
  7. A good reminder to people on this forum that there are people out there who think like this. Lots of people. I encounter this argument everywhere - even from my own Dad. I've said previously on here that Gordon should be completely down and out by now - no where near the 25% - 30% he's showing in the polls. This is down to bloated public service and welware state he has created, both of which are an extension of this ludicrous economic narrative. In fact, economics doesn't even come into it. It is pure politics - anyone who thinks Gordon is capable of making the best long term decisions for the country is a nutter, frankly.
  8. Yes, which is why it's amazing that she stands out for this. She is completely off the scale.
  9. Luckily it cut to Newsnight Scotland whilst she was talking. Thank f**k for that. She the sort of person you can't have a debate with as she knows she is right. No amount of evidence to the contrary will change this.
  10. God, I hate that Mrs Balls so much.
  11. A New Hope, yet it took until Return of the Jedi for them to finally nail that Death Star. Some people will never learn....
  12. I always find it amusing when people talk about the housing market and the economy. It's like there are people moving houses and beyond that there is no economy. Oh no - nobody is moving house, the economy is ruined! I can understand why the media seem to focus on housing stats - it is something the public can just about relate to. But all these news items just serve to underline the fact that this country is ruined. The public needs to wise up. The big mistake the Government is making is trying to give the impression that this is a problem that they can fix. Drop interest rates, print some money, Bob's your uncle! All this does is relieve the individuals of their responsiblity to get themselves out of their own mess - don't worry, Crash Gordon will save the world and away we go again. No, the economy is the sum of individuals each making their own choices. No amount of central planning will alter this fact - it will just place obstacles in the way to recovery. Until the general public start hearing about sound money and freedom from Government interference then we won't have learned anything from this. Yes, you may get a faux recovery but we will keep experiencing these crashes unless we get our house in order.
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