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Everything posted by thedude

  1. I love it here, it's refreshing to get counter views than the crap put out by the MSM. I guess there is a certain amount of cyberbalkanization here and I do feel like the increase (personal) cynicism may not be good in the long term. I almost feel like there is some kind of socio-economic radicalisation going on (red pill moment). HPC has been a huge part in opening my eyes to alternative media which has to be a good thing in terms of breaking certain entrenched mindsets typical in the UK. I think with the recent Oborne/HSBC scandal it's slowly starting to get through but I feel we are still in a tiny minority unfortunately, I think weekly wipe is a bit of a lonely light in an ocean of darkness as far as the beeb are concerned! Anyway just thought as a massive lurker (I was here years before I even registered!) I would chip in. I still kind of miss Sibley and McTavish, and to a lesser extent that EA that used to come in with the animated wine drinking emoticon (rinoa?), so annoying! That iraqi information minister jpeg was always pretty priceless whenever it popped up.
  2. I'm sure I heard the Japanese spend 25% of the budget on interest at present rates (probably a Kyle Bass presentation)
  3. Mad Max seems to be concerned that the JP Morgue could have a go at the exchanges under IP laws. Doesn't seem to have bothered the likes of utorrent much http://rt.com/op-edge/patent-lawsuit-bitcoin-exchanges-458/
  4. Apologies if there is a thread on this already, couldn't see it. Might make things a bit wobbly at the top end maybe? http://www.zerohedge.com/news/2013-12-04/its-payback-time-foreign-uk-homebuyers-be-subject-capital-gains-tax Back in September 2012 when we, correctly, suggested that one of the main drivers of demand (and increasingly becoming the only one) for US housing, especially in the mid and high-end, was foreigners - particularly of the oligarch persuasion - who come to the US to park their embezzled and otherwise ill-gotten funds, courtesy of the NAR's anti-money laundering exemptions, which means that they can buy any house, sight unseen, cash upfront (recall that a record 60% of all home purchases are all cash, which explains why mortgage bankers are being fired by the thousands left and right), no questions asked. One thing we made very clear, though, is that since one never actually buys the real estate, but merely rents it from Uncle Sam (or any other Development Market host nation), there is little preventing the host from cranking up the tax system, or outright changing it, when the need to raise funds strikes. After all what rights do criminal foreigners with multi-million homes in New York (or San Fran, or London, or any other major metropolis that is the target of offshore capital) actually have. Which is why, over a year after this prediction, we find that if not the US (yet) then certainly London, where the housing bubble is greater than anything seen in the US thanks to Russian and Asian hot money, is doing just this. Earlier today, the London Assembly passed a motion welcoming a possible move by the government to bring in capital-gains tax on foreign investors selling a home in the city. The motion was passed today with 13 votes in favor and 6 against, according to an e-mailed statement by the 25-member assembly, whose main function is to hold the capital’s mayor to account. The populist angle was naturally present to justify this decision: "Londoners’ right to own a decent home must be put before speculative investors in London’s property market,” assembly member Tom Copley from the Labour Party, in opposition nationally, said in the statement. “London property is becoming a global reserve currency for people to keep their money and to make money out of London property.” That actually is a spot on and very accurate assessment, especially in a world in which the governments of these same nations (recall that the US Mint is the first to propose a gold-backed Bitcoin token) for clear reasons, turn a blind eye to various forms of below the radar money transfers, many involving Bitcoin. After all, what better way to "honeypot" and trap foreign capital than by making inbound cash transfers easy, and then once the real estate "reserve currency" has been acquired, to change taxes and force foreigners to pay up for the privilege of having been allowed to park their illegal capital there in the first place. As Bloomberg reports, the full passage of this tax proposal is likely only a matter of time now: Sky News television reported a month ago that the government is considering extending capital-gains tax to foreign investors. Treasury minister Sajid Javid indicated last month an announcement was likely when Chancellor of the Exchequer George Osborne makes his Autumn Statement to Parliament tomorrow. Frankly, the only question we have is why it took London so long, although "building up a critical mass" of future capital gains taxpayers is probably the answer. And soon, after this has been tested in the UK, where will it go... but to the US. We would not be surprised if the ultra-luxury segment in US housing suddenly becomes just a tad wobbly as foreigners seek to quietly but promptly sell now and avoid capital gains, before, like in London, this becomes the law in the US next. Who knows: lesser things have popped housing bubbles in the past.
  5. I understand most are apathetic to this sort of thing (I certainly am) but there is an e-petition about recalling MPs, needs a few more votes to get discussed and the chances are the turkeys won't vote for christmas but might be worth signing. The chap was on with mad max a few weeks ago, sounded reasonable sensible: http://epetitions.direct.gov.uk/petitions/56449
  6. There was a decent talk on YouTube about all this, quite like the RSA they do some good stuff: (apologies for my inability to embed a video)
  7. Wasn't there a memo recently the JPM were prohibiting all wire transfers over 50K as of November 17th? Probably not related
  8. I saw that, fantastic, if someone could YouTube it that would be good. I like how they just laughed off his complete ignorance saying he just had a degree in chemical engineering or something to that effect. Idiots
  9. I think it does need to be seen by a lot more than the 1000 or so views it has at the moment, educating the sheep is the key. I reckon donations is probably a better way than a fixed 11 quid. This video of the directors speech is also very good and worth a watch:
  10. I watched one of these, it seemed to be property ramping in disguise - I turned off when it started glorifying living in an abandoned toilet under the street, can't remember what the price was, think it was 150K (no kidding, a toilet)
  11. They were in a race with UBS to grass on everyone else on the basis if they come clean now they won't be as harshly punished, like putting criminals in separate rooms basically. It'll be interesting when they find out the government also had an interest in manipulating Libor lower to bring down borrowing costs. (As is my understanding of things) I heard an old FX trader on the radio said they had been doing this since the 80's
  12. You bet, to be hedonically adjusted downwards when the 3 comes out (getting more fore the same price) adding a bit of deflation in there to cool those numbers!
  13. Looks like some EAs are doing a bit of trendy new media advertising, they are so down with the kids. http://www.youtube.com/watch?feature=player_embedded&v=f5ip2YRfu_A Honestly who it their right mind thought this would be a good idea, if only there was some sort of business cycle that cleared out all the dross every few years then perhaps atrocities like this wouldn't happen! Apologies if this has already been posted. If anyone can embed it better please do
  14. Think it was in freakanomics where they had a study of a doughnut or sandwich maker basically giving his stuff away for a donation to the honesty box, basically pay what you like. It turned out that the top brass paid less (and even stole IIRC) for the food based on average price per doughnut/sandwich. Probably a few holes in the study but the thrust was the richer you were, the more likely you were to be dishonest.
  15. Yeah, I noticed that, thought maybe the BBC had changed tack and were trying to subliminally encourage under age drinking, I just laughed and went to pour my 8 year old drinking partner another scotch.
  16. I might be wrong but didn't that A4E woman basically farm people off to Poundland for the 2 weeks 'free' labour and collect a chunk from the government for finding someone a job, probably got a bit of a kick back from Poundland as well. I seem to remember she lived in quite a large mansion/palace in Derbyshire. I'm sure there was a program on it a while back. Apologies if this has been mentioned already, this is quite a lengthy thread.
  17. I read agents diary now and then, it's usually pretty similar, moaning about his life. Anyway thought this post would be of interest, HPC even gets a mention. http://agentsdiary.blogspot.com/2012/01/storm-chaser-tuesday.html
  18. Apparently JPM had given NYPD something like $4.6 million dollars as a 'gift', good of em!
  19. I'll try and condense this a bit. My 90 year old nan, Not in the best of health but still all there decides she wants to take out a few thousand from her account at Santander. She called and arranged so she could get it a week prior (wanted it in cash). So we took her in with bills and other means of ID but her passport has expired and doesn't have a driving licence. All on the screen about her coming in but as she didn't have an up to date passport they said she could only have 500 quid. The manager came out and was most unhelpful. Said there was nothing she could do. So we got home and rang to complain mainly about the lack of common sense at the bank. Up shot of it is she will now take all her money out instead of just a few K. They offered to send her flowers... Just an anecdotal but thought I'd put it out there.
  20. -0.3%, only gets exciting went the falls are over 1%, so in a few months!
  21. Bump the comma at 23,500 although I'd still feel a little robbed, that photo of the pull out bed made me cry just a little at the state of this country.
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