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About Sneaker

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  1. When childcare & housing are so expensive, is it any wonder people aren't having kids? We've outsourced childbearing to that influx of gorgeous, fertile Polish women. And well done them because without them we'd really be sunk. http://www.thenews.pl/1/10/Artykul/161201,Polands-baby-boom-in-UK
  2. There's lots of stuff about this online. We all know about it. Yet debate consistently hinges on if and how to tax the onshore wealthy - even if we all know about the "squeezed middle" (i.e. our middle classes are seriously broke). So taxes are brought in in the name of clobbering the rich but are by the onshore middle classes -- who are already broke. It's not, say, City bankers buying up new-build luxury apartment blocks. It's a whole load of other people. And all the while the offshore super-wealthy simply enjoy the spectacle. Why are we so blind to the elephant in th
  3. And of course things that move at the speed of an internet packet are difficult - and sometimes even impossible - to tax. Many in the Offshore Class got rich because they understood this more quickly than governments did.
  4. US tax changes mean that Offshore Dollars are heading over the USA. The Dollar rules everything. So this risks deflating anything dependent on them, and USD LIBOR (offshore dollar interest rate) is showing exactly the signs of distress one would expect from this...
  5. This stuff rumbling on about Russian oligarchs and Unexplained Wealth Orders is just one component of a much larger topic. Ever since Blair opened the UK's doors to Non Doms, we have had a third class in our midst. Debate on taxation misses it completely: raising the higher rate of income tax to, say, 50% is wide of the target -- because it will be paid only by onshore tax-payers, who aren't the people buying £140m apartments in Knightsbridge. But somehow this is ignored and politicians to-and-fro about the top rate of tax, when any such solution looks nothing like the problem.
  6. Prices weren't completely insane in 2007. The very brief house-price downturn into 2009 has been largely forgotten. Someone recently commented that house prices never went down and I asked them "what about 2009?" They didn't even have any idea that house-prices had taken a clobbering then. This was someone in their forties. And anyway, the government intervened to prop up the market not just with ZIRP but Help To Buy (whilst preaching free markets!). This time around we have a completely different picture. Almost everyone is calling for a solution to the housing crisis. Parties of
  7. How about we re-phrase this to something more accurate? FT Advisor - Property market hampered by 'high prices'
  8. In a gold-rush, you make money selling shovels. Same old same old.
  9. No, no, no, No, NO! The masses are supposed to roll over and let the Offshore Class own everything. How come the NZ government has fallen out of line? It's supposed to be crushing its own people's futures, like every other major government has been happily doing.
  10. That 140 million pound apartment in Knightsbridge is 10,000 square feet. That's 14,000 quid a square foot. London used to be expensive at 500 pounds a square foot. Even today a grand a square foot is considered expensive. So that 140 million quid glass box on a polluted main road could drop 90% to 1,400 a square foot AND STILL BE EXPENSIVE.
  11. A stress-test is not an expectation. Risk management is about checking all possible scenarios and then constructing a plan for each. But that is nothing to do with saying any particular scenario is going to play out.
  12. I want to start a crypto-coin called VASELINE symbol LUBE. Its sole purpose is to short all other cryptos. Because you are going to need to dip your ass in a tub of lube if you are still long any of this nonsense.
  13. Spot on, my friend, spot on. Never-ending growth on its own is a pointless metric. If huge growth is only going into a small number of hands, it's going to create massive social tensions and - eventually - upheaval and maybe revolution. Nobody wants that. Quantity of growth matters, of course. A shrinking world is very dangerous. But growth has extra dimensions: quality and distribution. For example, unemployment statistics are at levels unseen since the 1970s. But this has been achieved by generating millions of low-paid, "gig economy" jobs; leaving the fruits of this achi
  14. Not sure I agree! Just a few minutes on this excellent Forum will show you otherwise. And the internet let's you find out for yourself. So I'd say, sure, people who are intellectually lazy might believe that what we have now has always been the case. But the average person on this forum is far from intellectually lazy. Otherwise they wouldn't be here.
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