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Everything posted by 24gray24

  1. Laurejon, The reason I tell the youngsters boomers are talking tosh about having it hard, is because I know, I was there. The boomers are lying. Sure, they went to work at 16. But then they spent half the day sitting on the toilet reading the newspaper instead of working, because they were on strike half the time. They pretended to work and the management pretended to pay them. Boomers then lie and pretend it was all hard work. They were richer than any previous generation by the mid 50's and it's a lie to pretend otherwise. They had cradle to grave welfare state, so it's a lie to pretend they didn't (OP above didn't read my post carefully and failed to understand that his corrections were precisely my point---they didn't have national service, and are lying if they claim they defended us in war etc) They cheated their parents by inflating away their debts, but now want to change the rules to stop their children doing the same to them. They got tax subsidies to help further erode the small mortgages they did have. They paid 3x one salary for a house. They made rules about tenants never having to pay any increased rent, and so sat around paying tuppence ha'penny for rent (after a few years of inflation). They inherited houses from their parents, but have no intention of paying their own children anything; instead they lie about what they inherited and pretend it was nothing. etc.etc etc. It's all boomer lies. They had it soft, and made it even softer by cheating the generation before them (through inflation) and have every intention of cheating the generation after them (by spending the grandparents' inheritance on themselves) Of course I'm proud of my ancestors who fought for free speech (in 1215 with Magna Carta); my victorian grandmother who was a suffragette, my roundhead ancestors (in 1630's) who fought oligarchy. But what did these boastful boomers contribute --contraception? They just keep lying to the youth and pretending it was boomers who secured our freedoms. And then they start calling everyone "sonny" and trying to intimidate young people for being young. I don't just despise boomers for being selfish parents: I despise them for persistently lying to the young. They squandered a great country.
  2. Okay: Alexander the Great, commander in chief of Macedonian army at age 18. Caesar, a general at a very early age. Pitt the younger, prime minister at age about 30. etc etc. Any oligarchy basically excludes 90% of the population so the 10% get all the good jobs, so it's not hard to find examples of people in charge very young. Henry V, Edward III, Queen Elizabeth II, in fact practically half of all our monarchs were successful and built up their careers very young (in fact, just by being born). In a rigged society, it's very rarely talent that gets you to the top; it's being an insider in a racket. JFK. Winston Churchill (MP at 25). etc etc etc.
  3. And I think you need to up the dose on the Alzheimer pills!. Welfare state came in with Beveridge report in 1944. People were perfectly adequately fed from a nutritional point of view (thanks to rationing). Sitting tenants paid 10 shillings rent in 1950, and still paid 10 shillings in 1970; and if they're sitting tenants they're still paying 10 shillings now. (one rule for Boomers, a different rule for everyone else: that's normal boomer behaviour). To buy a house: 3x one income. Boomers when young did not know how to wipe their own backsides until they were 18 either; at least not according to their own parents (you could even be quoting their very words about you), which was why parents used to rattle on about National Service being good for them. In fact, their own parents used to despise them for whining they were hard done by, when they'd never had to fight in a war and had had everything handed to them on a plate. You were lucky to get an orange for Christmas. Most people had to make do with a pair of socks. That's not deprivation, it's just lack of commercialism/consumer society. People had no less fun at Christmas, despite your attempt to make out you were hard done by. Boomers were not hard done by; you had it soft all the way through. Stop pretending.
  4. At minimum: 1. Balance the budget. 2. Raise interest rates. 3. Stop QE/let the banks go bust. 4. Raise taxes which don't affect production. wait and see how that goes before doing anything else.
  5. The boomers got everything cheap, compared with those who came later. Any other story is a lie. Several things are different about today's world, just to name 2 which haven't been mentioned much: far less inflation these days to erode debts and 2. Freedom of labour mobility. As for history, in the days before the boomers and inflation, people used to say "a property is like a millstone round your neck". That was the Victorian view. It's only inflation and growing population that's made bricks and mortar a winner; an entire generation has been prejudiced and will take time to re-learn (through financial suffering). Europe is there for the making: a real blending of peoples could take place, if people move between countries chasing jobs. If they can all be found work in one of the countries, something extraordinary will have happened; a psychologically united Europe. And a very different Europe would be the end result: some areas depopulated, some areas with huge polyglot populations. The big question is whether it can be held together in the upheaval; language problems, finding the jobs, keeping everyone fed, avoiding the blame game and biggest hurdle of all: people feeling willing to move to a different country. If they fail, the future is more like EFTA, which lots of little countries' politicians all defending their inward looking fiefdoms.
  6. IANAL, but I think the estate agents protest too much. Throughout the boom, estate agents were charging about 1.5% to 3%. In London, on a typical £400,000 price (outrageous I know), they'd get a cheque for £6,000 - £12,000. For that, they'd do an average of 10 viewings, taking say one hour each. Houses were going as soon as the went on the market remember. So they were making about £600 - 1200 per HOUR. Hence, the flash cars, the flash suits, the repaint jobs every year. Now take a look at your local solicitors and their office: hasn't been painted since 1982, solicitor (underneath all that pomp) wearing a threadbare suit, driving a 10 year old renault etc. That should tell you something, but most people are too blinded by their own prejudices to see the truth: solicitors weren't making any money. They were getting paid about £600 and having to read carefully every single page in a pile of papers about a foot high. The average conveyancing was taking about 20 hours on a new build in lawyers' time, if done properly. They simply weren't making any money on conveyancing.
  7. "Our main aim is to celebrate those people who drive this great British industry, ensuring it sits at the heart of financial services, while demanding full interest and respect from Government." Right, got that in the diary: 7th July 2009, Park Lane Hilton.
  8. yes, just wait and see. There'll be other bits of land; a lot of small farmers are broke too.
  9. why not transfer it to London as $US, then take it out of the bank as dollars cash? You can always convert it into something else then pdq.
  10. Do the management ever apply those principles to themselves?
  11. One of the major problems is that none of the official figures are honest. Once again, it was the Tories who started fiddling the unemployed figures, and Brown carried it on and made it worse. How many people are now unemployed, but not claiming benefit? We don't know, because the Government (of both parties) stopped counting them. So, 2m claiming benefit, another x on disability (another trick to massage the true figures), another y unemployed but not claiming because they have too many assets (again not counted), another z illegals, but still chasing after the jobs (and not counted)... We could be at 3 1/2 million unemployed already. Meanwhile, the BBC parrots every fiddled figure as fact.
  12. Okay, now it all begins to make sense. I agree with the OP: have parents go and see an accountant about the tax. and go and see a lawyer about whether it's better to leave it vague, no rent, leave on reasonable notice if they want to sell etc. Something should probably be in writing at least to cover DIY; if you re-do the kitchen and wiring at your own expense, you don't want parents to be able just to sell it and keep all the money without re-imbursing you.
  13. I'd avoid East London if I were you. The 2 cheapest places are probably Hackney/Bethnal Green and Brixton. If you want guaranteed safe, forget it: even Chelsea isn't guaranteed safe.
  14. He seems to be saying that if the bubble of credit is prevented from contracting, many of the loans will be repaid in full...in 3 years. How can that be true? The banks owe 14 trillion, and the assets underlying them are worth zilch. How is keeping the banks alive, going to turn zero into 14 trillion?
  15. Don't you like your gf's parents??? As a HPC person, it's your DUTY to tell aforesaid parents not to be so silly. Buy an investment property in this climate? Are they mad? And you're just letting them do it???
  16. I don't see how anyone can argue Fred's pension is a distraction. It's a clear test, a wake up call if you like, of whether the government is in the pockets of the bankers or not. The fact they gave him a dirty big pension when legally they didn't have to, proves the point: the government is only acting for bankers, while pretending not to be. They got caught, so they're pretending harder, that's all. Not a distraction from what's really going on, but a symptom of it.
  17. Well, if you don't like the word "dolts", let's use the word "mediocrities" I don't see how a country run by mediocrities, and where the only people allowed an education all have to be their children, can possibly have a bright future. It's going to get out competed. Its citizens are going to spend their time reading in the papers that Throgmorton Somerset made a right mess of something (costing billions), but hey it's all right because Milquetoast Brougham is now taking over instead.
  18. Tories prefer a market based system. The automatic effect of this is to subvert any notion of meritocracy in favour of the inherited wealth brigade. The problem with this system is you end up with a country run by dolts. But since the dolts in question are their own children, this always suits the Tories. If you're going to have a market based system, perhaps with students of history paying £2000 and medical students £50,000, then you have to find a way to bolt a meritocracy on top or alternatively accept that your country is going to be run by dolts. In the US they have 100% scholarships and well endowed universities (which the rich endowed). In England, the rich don't endow anything, so how is meritocracy to be introduced and paid for? If there's no meritocracy and it's just a market based scheme for preferring inherited wealth, then I don't see the point of Universities all. You can't find much genius in inherited wealth; it ends up as 1% genius and 99% dolts. This is pretty well the Tory system. Now look at the US system: Suppose the history costs are £2000 a year. They want Half Hooray Henries, half meritocracy. Each poor student needs about £10,000 a year to live on in addition to his/her fees, which would have to come out of the fees as a scholarship. This is going to make the fees about £14,000 a year, even when the costs are only £2000. Hooray's parents are paying out £24,000 a year for Hooray (£14,000 fees and £10,000 living costs); about the same cost as Hooray's public school. . Hooray's parents pay for Hooray's courses (£2000), for Hooray's living costs, and also for the poor student's course costs and living costs through a scholarship. The problem is the medical fees will be about £130,000 a year... The end result is 50 1/2 % genius' and 49 1/2% dolts: a much better percentage than the Tory system. The conclusion immediately follows: the university fees are far too low and should be raised much higher!
  19. A bad estate agent in this market is going to carry on doing what they did in the bull market: talk prices up, set too high a value and let it sit for a few months until prices catch upwards (especially if they are competing with other estate agents to get the sale), tell buyers they'd better hurry there's only one left etc. Sibley in other words. A good estate agent, ie one that actually wants to make money, is presumably going to do the opposite: talk the sellers down not up, put in the lowest prices when bidding for the seller's custom rather than the highest (and make it clear that otherwise it will just sit), tell the sellers rather than the buyers to hurry etc. Sounds like the older estate agents are already making this switch and ramping down the sellers, and the young ones are making no money because they're still trying to ramp up the buyers. Once they hear their own estate agent switch to ramping prices down, those BTLers fragile self-confidence is going to crumble overnight...
  20. Is it one of those lovely developer new builds where the door knobs fall off, and you can put your hand through the wall? Chip board plastic worktops, highly inflammable plastic flooring, that sort of thing? Wouldn't surprise me if the whole thing mysteriously burns down in a month, just before the fire insurance runs out!
  21. It's probably a gigantic bluff, with no real buyers at all. Expect to be called up and told there's one and one only that's still available as it's fallen through or some such nonsense. It's a scam, a last desperate throw of the dice to make people feel they'd better rush in and buy. Don't be suckered.
  22. I'm not a lawyer, but I've seen a bit. Imagine the scene in front of the judge: well your honour, I didn't know he was still working on the site. It's not my fault if he carries on working for nothing, more fool him hahaha. Judge: I don't believe you. You're just refusing to pay for the work that was done, and coming up with an excuse why you shouldn't pay it. I see this kind of routine every single day of the week. As far as excuses go, it's completely unbelievable. Didn't you know a judge has to decide who to believe and who not to believe? Did you think you could come up with any old story and a judge has to believe it ? Wakey wakey, your story is un-bel-iev-able.
  23. I read the case. IMO it doesn't say a single word against letting an auctioneer sell a property and charge a fee. IANAL and all that, but it's written in pretty plain english and it's quite clearly completely in favour of the banks. Think about it logically for a minute: mortgage companies foreclose and sell at auction all the time. The auctioneers charge a fee all the time. It's never been illegal before. But now an American company is coming in to do it, suddenly you think it's illegal? What do you think a judge is going to say? "It's okay for british auction houses to sell foreclosures, but nasty big american ones never get a reasonable price". No way, won't happen.
  24. Brown is not an idiot. He is merely feathering his own nest and thinking about his own family's future, like any good Tory would. He's already arranged a nice fat job somewhere abroad that isn't going bust, and his part of the deal is to sell the £ down the river before he goes. Mervyn King is a pal of the bankers. Of course they know what they're doing, everyone does: they're selling the £ down the river. On purpose. And then they're moving abroad with their ill gotten gains, just like the Tory bankers. Why does everyone keep thinking it must be stupidity, it's impossible, could it be, surely not. It could be, it is, it will be exactly what we all think. Debt slavery for all. (Except for those lucky few Tory bankers, retired boomers and Labour politicians sunning themselves on the cote d'azur). No they're not sorry, they did it on purpose. Now put those chains on and get down the mines.
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