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Everything posted by Sir Sidney Ruff-Diamond
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Jim Rogers Says We Are Toast
Sir Sidney Ruff-Diamond replied to chelston's topic in House prices and the economy
We don't need to do anything about it - behind your back those Japanese girls are smarter than you think - they'll ask your western friends whether you are popular back home, and when they turn and reply "I don't think so", and then even desperate Japanese girls will know that while you work as an English teacher in Japan, you were a spotty McDonalds burger flipper back home. just like the cartoon says. Oh dear. Why is it that you think you can speak Japanese better than anyone else just because you copied a one-liner from a damp, stained, tentacle-porn manga? "There'll be trouble if you shoot your beans inside me" FYI, I have passed 日本語能力試験1級. Which I can see is a lot more than you have. -
Jim Rogers Says We Are Toast
Sir Sidney Ruff-Diamond replied to chelston's topic in House prices and the economy
Needless to say, Mr Charisma-man, with the prevalence of contraception in Japan you probably don't get any choice. -
A View From The Trading Floor
Sir Sidney Ruff-Diamond replied to Cylons's topic in House prices and the economy
I thought as much - the devil was in the detail of weasel words - making it look like Northern Rock would be used as a credit injection vehicle but actually doing nothing of the sort. Most of the more pertinent questions from jounrlaists went unanswered for good reason - they don't have any answers, so the aim (and you could see this on their faces) was to just "get through" yesterday's press conference retaining an appearance of credibility. The value of the pound and the yield on treasury bonds now say that they did not come out of that conference with any credibility. -
Jim Rogers Says We Are Toast
Sir Sidney Ruff-Diamond replied to chelston's topic in House prices and the economy
Japan is not doing too well either - the country is in slow terminal decline. Do you fancy your prospects of getting any pension in Japan? Don't, because you won't. I know what your signature means too - you dirty beggar. -
Live Announcement
Sir Sidney Ruff-Diamond replied to deadman's topic in House prices and the economy
I wonder what European legislation would have to say about nationalised Northern Rock competing with private sector banks on mortgage lending. Obviously the government is seen as a better credit risk than a private bank, so HSBC and Barlcays and a few others would quickly see their competitive advantage of not having got their paws sticky with subprime poo being eroded away. I know I'd cry foul if I found myself competing with a public entity that can set its own arbitrary lending levels. Also, Northern Rock would effectively become the UK version of Fannie Mae and Freddie Mac. Well, those institutions did so well in the US, why not give them a whirl here too eh? Actually taxpayers money is not the government's. You see, the government can print money against future income ad infinitum (what do you think inflation is?) - and this is not money that they own at all, but money that future taxpayers will owe. If the government spends that money now, it means they'll have no money in future to pay for public services. -
Return Of Deposit When Managing Agents Change
Sir Sidney Ruff-Diamond replied to miriama's topic in All about renting
You should point out that because no hand over inventory was done, there's no reference for the state of the property on checkout. The new agent has therefore mishandled the hand over. You should not pay them any deposit until they have done a new inventory - at their expense. If you also send them a Notice to Quit, they probably won't bother actually doing the inventory. -
Garringtons - Phil Spencer - Bust?
Sir Sidney Ruff-Diamond replied to sutemiwaza's topic in House prices and the economy
Nothing sinister, but very suspect! 2 directors resigned within the same week, in the middle of a property downturn? Oh deary me. Thanks for coming along Phil and Kirsty, you nearly looked like financial geniuses for a moment there! -
How To Make Money During The House Price Crash?
Sir Sidney Ruff-Diamond replied to Britwizard's topic in Anecdotals
Exactly the same here. One way of doing it might be to start quantifying the gains: Every £1000 saved is around £900 not being paid in mortgage interest - people forget this one, but provides an excellent case for renting if you can save too. Houses are currently losing their value at around what - just over £1000 a week? If you have savings they are earning pure profit (agreed, the rate is not great right now but measure that against alternatives) -
When Did You Call The Crash?
Sir Sidney Ruff-Diamond replied to a topic in House prices and the economy
Beginning of 2007. Although I've been here for much longer - the crash should have come about at the end of 2005, but the Bank of England started slashing rates to keep the party going. I knew the crash was in the pipeline when transactions started falling like a stone and mortgage products were being withdrawn by lenders. At that time, all of the VIs and press were talking about a housing market "soft landing" (remember that phrase?), and we all knew here that there was going to be no such thing. -
Ing 5% For New Savers
Sir Sidney Ruff-Diamond replied to Old Eddy's topic in Cash ISA's and Savings Accounts
Well hang on. Firstly, the reason the UK was stung so badly by ICESAVE was because so many people, including our own local councils had put their money there, according to very rational financial advice. Why was that advice rational? Because the UK government was too busy chasing the housing market down the precipitous negative growth curve with interest rate cuts instead of doing their job of watching inflation, so in reality, without a high rate of return from accounts from the likes of ICESAVE, depositors were losing money at the hands of the Bank of England's deriliction of its one and only duty. When the FSCS found itself having to bail out UK despoitors, that was the Bank of England's dereliction of duty coming back to bite them in the ****. Serves them right for putting the cart before the horse. My advice is to take whatever highest rate you can get, and deposit according to FSCS provisions - if FSCS doesn't apply you take your chances but basically if it offers higher interest, go for it because you have a lot to lose by keeping it in UK GBP accounts. :angry: -
Milkman, they will as part of the credit check ask your employer your salary - even if you don't mention it they will still find out you're not employed. If its not too daft a question, why not get a new job then rent?
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No there isn't, to my continual dismay. You should take solace in the fact that if you ask the EA to perform a credit check on the landlord, and they refuse, the EA may later find that they were effectively underwriting the landlord's ability to pay their mortgage for you - I've seen this tested in court following an eviction when the magistrate asked the agent if they performed any credit checks on landlords - when the agent replied in the negative, the agent and landlord were each fined 50% of costs. What you can do is to insist that as part of the shorthold agreement, the landlord MUST pay the mortgage (if there is any mortgage outstanding for the landlord to pay). Most tenancy agreements work on a prima facie assumption that the landlord is doing this - which then gives the tenant no rights under that agreement (you do still have right under the Housing Act and the Protection from Eviction Act 1977 which forms a part of it). However, in your case milkman, with all respect to your circumstances, I'd suggest that the landlord's ability to pay is far less a concern than your own situation might be for the EA and landlord.
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Ten Biggest Credit Crunch Cocks
Sir Sidney Ruff-Diamond replied to Dave Spart's topic in House prices and the economy
The terminally-wayward analysis of the Sunday Times David Smith gets my vote. -
Furnished? But Landlord Says Unfurnished
Sir Sidney Ruff-Diamond replied to scarlets79's topic in All about renting
The Tenancy Deposit Scheme should have put an end to that - effective on all tenancies renewed or created after April 2007. Report the landlord - they can be heavily fined. Or just have a quiet word with your landlord about the fact that he hasn't put the deposit in by enquiring with wondering gaze "Isn't that illegal?" -
Let's be a bit more specific. They have a bad habit of talking property prices up - have a look at the thread here where I show examples of how the BBC's reporting style changes when they talk about house price slumps and gains. Which is exactly what Gordon is trying to do by punishing savers right now. In many ways he is right, but there's a nasty sting in the tail which I've seen at work in Japan. Following a credit boom, people want to store money at the very time the government needs them to spend it of course. Best solution is not to let the problem arise in the first place. For this reason, deflation is unavoidable I think, regardless of what the BBC says.
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Jonathan Davis Was Right
Sir Sidney Ruff-Diamond replied to Little Professor's topic in About housepricecrash.co.uk
Well, I don't think that was a prerequisite for a house price crash. However I think we all see now that as long as the Bank of England underpriced the risk associated with credit - and by that we mean credit for residential property purchases - a crash would never occur, only a gentle sloping decline. I think that is true - for us to get the crash we needed, something has to have gone wrong. And it has. And we have.