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Civil Servant

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About Civil Servant

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    HPC Poster

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    London bound no more I hope!
  1. Guys/Girls, This is great stuff. Thanks. Don't worry, I'm not storing just pans. Furniture too. And all at very reasonable rates. I'm a slight cooking freak and these pans almost needed a mortgage on their own . But then I don't have a mortgage , or come to think of it a house for that matter but hopefully when I come back in four years time I'll be able to afford a house without selling my pans first Captain Scott, I'm off to wash my pans. I may be gone for some time. CS
  2. OK chaps and chapesses, I'm moving house and putting much stuff into storage for four years (job provides a lot of kit in my new location). Amongst these things are stainless steel/silver alloy coated saucepans. They were pretty expensive and I want to keep them in good nick. Should I: a) just wash clean and dry them and then put them into store? B. wash clean and dry them and smear on a little edible oil e.g. olive. Over a short period of storage/non-use you are supposed to do this but I fear the oil might degrade over four years. c) wash clean and dry them and smear on a little sewing machine oil - not edible, but perhaps a more durable oil? Answers on a postcard quick as you can please - the movers come tomorrow morning. Slightly surreal I know. CS
  3. The point about transfer of wealth between generations is the most telling one and the one I find most galling. All those baby-boomers retiring to the Dordogne and a swimming pool are doing so at the expense of young folk today who are working just as hard as the baby boomers ever did. Alas, if I start thinking too much about this I get all un-Civil Servant like :angry: . Better think about Wales' win over England yesterday. As a Welsh Civil Servant this makes me feel much happier . OOps, potential thread hijack....
  4. I'm concerned that even if the fees are high and the APR therefore higher than it appears, most people will be all to happy to stick the fees onto the outstanding sum and so keep a low-ish monthly payment as a result of the lower headline interest rate. Its going to take credit tightening more than this to cause a crash I fear - it risks a long slow expiration of air at present, rather than an abrupt death rattle...
  5. Independent Article The attached link from the independent is slightly worrying. It seems to suggest fixed rate mortgages are coming back down again as the banks can obviously find willing buyers for the mortgages they package up and sell onwards at interest rates lower than a while ago. This is worrying, as it seems to imply that the markets aren't taking too much notice of the BOE's increases and almost that the appetite for debt out there (i.e. buying up debt for the income stream it produces) is such that interest rates to borrowers are beginning to de-hitch from the BOE rate. As long as fixed rates like these are out there and available widely, I think a HPC is increasingly unlikely. Don't rule out the banks coming to their senses sooner or later though and precipitating a HPC after all. BTW, does anyone else share, with me, a concern that the Independent seems just as much a cheerleader of HPI as the rest of the press. It doesn't seem to occur to them to cover the damage HPI is doing to the economy in the longer term and to people's lives right now. Civil Servant.
  6. What is interesting is that many of these salaries are completely out of whack with genuine Civil Service salaries. A lot of these jobs used to be functions that were carried out in the actual Civil Service. Progressive Governments have sought to 'agency-fy' lots of such functions so they can be seen to cut the number of Civil Servants and Government 'waste'. In the process, you see these salaries emerging because the leadership in these Quangos aren't bound by the same public sector pay bargaining as the Civil Service itself. The Head of the Civil Service itself only earns a little over 200K and the average Head of a Dept (e.g. Treasury, FCO, MoD) would earn just a little less. Good money, but considering the budgets and responsibilities not excessive. It certainly seems strange that these Quango Heads earn more.
  7. The Navy and all the other bits of the armed forces are basically undergoing transformation at the moment to make them the sort of armed forces we need for the sort of wars we've been fighting recently - lighter, more networked, more agile and deployable, sustainable in the field. This costs lots of money. The Airforce is busy buying C-17s (heavy lift aircraft to get folk in and out of Iraq and Afghanistan straight from Brize Norton) which it needs but can't really afford because it is paying for Eurofighters (designed to dogfight Soviet Migs - takes you back a bit!) it doesn't really need. The same is true for the Army and the Navy. Transformation costs money. Operations cost money (and the Treasury isn't meeting the whole cost). And keeping ourselves able to work on the battlefield alongside the US costs money (we're the only ones in Europe that can just about do it). And of course there is a large and increasing wage bill required to keep staff in dangerous jobs demanding marketable skills. The US machine is struggling even though their military budget is rocketing. We're bound to find it hard.
  8. I'll never forget the lecturer at University who expounded this to us all. He convinced us, and I remain convinced that he is right, that the whole system rests upon the continuing faith of people in the system. This of itself creates a restraint upon the system - create money too fast and devalue the currency and suddenly people will have a loss of faith in the system and a run on the banks will ensue, which can only be resolved by printing more money and inflating further. Its not a conspiracy, its merely something that gradually developed for numerous reasons (including the inability to cart lots of gold around the place) and which it is no longer in the interest of the majority of people to dismantle. The revsese of inflation is also true. The Japanese example shows the dangers when people suddenly decide they don't want to be in debt so much anymore. Velocity decreases and the economy deflates. The Government puts more money in but as people's propensity to save increases then they just save more. The banks need to up their reserve ratios and the whole system has a sclerotic spasm until it regains some form of equilibrium again.
  9. Good spot, - I couldn't help (worryingly) noticing the same thing... CS
  10. Dog, Look past the silly titles and try and think what most of these jobs do. Chief Executive of a Council involves managing budgets of many millions of pounds. Do you really want Muppets to do this? Public Sector salaries are generally set on the basis of what is required to recruit and retain. Local Government always attracts higher salaries because it is less attractive (in many ways because so many people denigrate it) than central Government related public service. Similarly, within Whitehall, DEFRA have to pay higher salaries than the FCO to recruit and retain. Also think carefully if you really want the police managing the police. Might not produce the efficiency everyone imagines it would. One occasionally hears arguments that its all a big cosy club in the uniformed services.... CS
  11. Mortgage lending still booming say CML. Up 7% from July to August and up 21% YOY. Strongest month of the year to date. Why aren't people discussing this? I'm concerned this site is in danger of showing groupthink and every thing that doesn't correspond with the herd mentality is conveniently ignored. I would desperately like to see HPC, and I'm sure it will happen. But I'm increasingly thinking it isn't going to happen on the sort of timescales most people here expect. Link to Mortgage Lending Story Oh, the same story notes net REPAYMENTS on credit cards. So obviously not that many people using the plastic to pay for the bricks and mortar....
  12. For various reasons including good fortune, a helping hand onto the property ladder in my 20s and a long time overseas I've 'escaped' being a member of the i-POD generation. But reading the article struck many chords and I feel a great deal of sympathy for others my age who haven't had my own good fortune. The final kick in the teeth is no doubt that their parents tell them how lucky their generation is and how hard it was growing up in the 60s....
  13. At a friends house for Lunch on Sunday. One of the guests, in reference to some comment in the discussion, said "of course house prices are about to crash...." Not only was I surprised that she said it. I was also surprised when no-one disagreed.
  14. Lets hope the model is wrong. The two conclusions from the graph are quite alarming and undermine much received wisdom on this site. Another 4-5 years of HPI doesn't bear thinking about. And 30 years of falling prices would do for many people on this site like me who are hoping to buy a few years after the crash in the belief it would be a good time to do so.
  15. In the cold light of morning, the tone of my post last night, especially the title, was a bit harsh. I apologise RB. Sorry. The 'take a holiday' was in the sense of you've been doing lots of hard work and you could take a breather sense rather than in the 'take a hike' sense. Still think the forum would benefit from fewer news threads though - these can be pinned on the News Blog - and more considered pieces bringing together all of the snippets of evidence.
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