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House Price Crash Forum

dr ray

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Everything posted by dr ray

  1. The joker in the pack is what they do to taxation. No doubt taxation will be increasing. If they put additional taxation on investment income it could make the return on these bonds worthless. As it is many higher rate taxpayers will be taxed at over 60% on the return of even the I year bond. Applies to all investments of course but essentially acts as retrospective taxation on locked in investments. Perhaps the Treasury know something we don't and can afford to appear generous since the interest on any money they pay out will be coming back to them sooner rather than later. It was Lawson who discontinued the investment income surcharge of, I think 15% on top of your highest tax rate, in the 1980s An additional 15% investment surcharge on someone earning £100 - 113K from employment would make the tax rate on these bonds 80% !!! (40% plus loss of personal allowance at 50p for every £1 earned plus 15%)
  2. Legislators is what the American press call them and it seems to be catching on here. I suppose they do pass laws and they have been telling the Judges how to judge and sentence but this is not something which should be accepted. It is an example of our transformation into a totalitarian dictatorship over the last decade.
  3. I would message you if I could but you need to enable PM on your profile page and I think you might need to have your account ungraded to receive messages (not sure about this)
  4. Can you imagine the outrage had a man said this?
  5. Thats what government ecomomic policy is intended to achieve. Immediate VAT boost to the shinking tax base and a nice revenue stream for the future. If you feel the need to spend it buy some gold or stocks with earnings abroad or lend it out on ZOPA
  6. Clearly untrue, as subsequent events show. I don't necessarily think bringing down a bank in the UK would be helpful but it is important that as little money as possible is left in no interestr accounts. Think of it as a civic duty to chase the highest rate available and to move money around. It is because of saver apathy that they can offer savers such low rates while awarding themselves bonuses.
  7. Thought it might be worth bumping the ZOPA thread Putting some savings in PMs and lending out through ZOPA seems a way of telling the financial sector to spin on it and has the advantage that the banks and the government can't use our deposits to support house prices by offering mortgages. There aren't many ways to tell the banks to keep their poxy savings rates. I have started putting some money into ZOPAand anticipating a return of 6.5% gross after estimated bad debts. Done it in the wifes name so that only basic rate tax will be payable. Any thoughts on this. Is ZOPAs estimate of bad debts credible? What happens if ZOPA goes bust. Is the money in a nominee account or is it part of ZOPAs assets? Is their any way to recover money before the 36 or 60 month periods if personal circumstances change?
  8. But surely, if you've done nothing wrong you have nothing to fear.
  9. I buy such coins off ebay and privately and I pay well below the issue price even for coins issued 3 years ago despite the rise in gold. I'm afraid you have discovered the Mint are running a bit of a scam since the collector value of these coins is nowhere near the premium they charge. Ebay is still your best bet and the premium is a bit higher than you say with a 1995 or 1996 sov selling for around 190-200 but you take a bit of a chance. If you want to pm me we might be able to do something to mutual advantage if you live near.
  10. Who said the "we buy gold" adverts increases prices? It clearly doesn't and the flow of scrap onto the market is one reason cited for gold not going higher in the months following Leemans. However the amount of scrap is not infinate and once the broken and ugly stuff is scrapped people will not be so keen to part with the nicer stuff unless the price goes higher so the adverts exist because the price is higher not the other way around. Incidently, anyone thinking of selling gold by mail should read up about the cash4gold scamswhich are robbing punters of their gold. HPC still hosting their banner?
  11. The media are confused (or uncritical) by the term jewellery trade. The so-called jewellery trade in India isn't really jewellery trade at all. Gold is bought as a means of saving. To the rural Indian a gold object is as much a decorative object as a bank statement is a work of art to the Westerner. To a lesser degree the same applies to Turkey and many other countries with a less sophisticated or corrupt financial system. As our own financial system has been shown to be corrupt interest in buying gold as a means of saving in the west has increased. The cost of gold in retail jewellery is a relatively small proportion of the retail price so a $50 or $100 rise is not going to make a lot of difference to a $10000 engagement ring or Rolex.
  12. Yes but the point is that these jobs are replicated in every primary and secondary care Trust in the country and then there are more people employed to oversee these organisations and then the whole lot is overseen by the Dept of Health. Then there are various bodies set up to inspect and monitor that the organisations are doing their jobs properly. I have been a doctor for almost 30 years and dispite all the changes and increased costs of the NHS in that time my job and the hours I work are almost unchanged since 1985. Everything that has changed in the NHS has barely touched the basic interaction between the doctor and the patient apart from attempting to place barriers between the two. But then again I refuse to use email at work and insist that people come to see me or my secretary personally if they want something from me so that stops a lot of interferance with my work.
  13. +1 I have been listening to the condemnation of the BNP and BBC and not one person has stood up and said "why not the voters decide" I think the problem Hain has is that having elected NuLabour three times he knows the UK voter is basically stupid and cannot be trusted to vote.
  14. As annoying as it must be, I don't think it affects house prices or the economy. Should have been posted in the thread about the forum update.
  15. The logical thing to do when it's no longer worth saving for retirement is to run up the biggest debt the fools in the financial sector will let you have, max out all you credit cards, get yourself a nice comfortable house with a massive mortgage and die in debt. The new mantra is any money you haven't spent (even if its someone elses), by the time you die, is money wasted.
  16. Its been funny watching Gordon Browns boasts being revealed as hollow, one by one. After he had banished inflation and boom-and-bust and put the UK on a path of endogenous growth more able to withstand the downturn, and reduced inequality in the UK, he continued to boast that however bad it was at least house repossessions and unemployment were not as bad as under the Torys and that he had presided over the longest period of economic growth in UK history (which actually started some time before Labour even came to power such was the anticipation of Nulabours economic genius) Now he has a new boast as the Prime Minister who presided over the UKs longest recession but, somehow, I don't expect to hear it from him.
  17. Can the mechanic who rescues an old wreck from the scrap yard, fixes up the engine and gets it running be blamed when some joyriders drive it recklessly and crash it some years later?
  18. I shall explain: The reason house prices are rising is that some fvckwit economists have thrashed sterling and put the UK on the path of inflation and the ungrateful proles are trying to preserve the value of their savings even if it means risking a loss on property.
  19. He presided over it but wasn't responsible. Remember he followed Brown who had 10 years of directing malinvestment in the UK. The only choice Darling has faced was on that Friday evening last October when he had the decide whether the UK would still be open for business on the Monday or whether it was every man for himself.
  20. I don't know if you mean to be sarcastic but IMHO Darling has the highest credibility of all the Labour cabinet and even of most of the shadow cabinet. He has told the truth in the face of a bullying and lying Brown and quite often openly contradicted him over the economy. The only doubt about him is how much he is willing to bite his lip and keep quiet for the good of the Labour Party.
  21. Merv is clearly saying "I told you so" for the way Brown cocked up the supervisory structure of UK banks. Brown seems to be saying that the supervision of UK banks should have been undertaken by some other global institution, which I find extraordinary. The blame for the collapse of much of the worlds financial system can be fairly equally shared between Clinton and Brown's lax regulation of the financial systems in their respective counties. Don't forget Browns hubris when he was lecturing the more conservative Europeans to throw caution to the wind and join the fun
  22. I had a similar experience with a half sov ring. I asked the seller to confirm it was a full sov and he said it was and had an insurance valuation from a local jeweller stating it was (and valued at £280) When it arrived, with the original valuation, it was a half sovereign. The seller refunded part of my money without too much hassle so I suspect he knew but I still don't know whether the jeweller was in on the attempted scam.
  23. Add confiscation of all individuals savings in UK institutions (£44 billion in 2007 apparently - almost a quarter of the total sum)
  24. You are a genius! Thanks, that works a treat. . PS - if you look at my posts the last 2 weeks you will see I have only been able to log in at work.
  25. Same problem here. I work on three PCs. On one I am still logged in and can post. On the other two I have not been able to log in since update. May explain why some posters have left. Other problem I have is the very slow word processing when you try and write a post. Can take minutes to edit a line of text..
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