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Gideon Gono

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Everything posted by Gideon Gono

  1. Proves my point - you can pay down mortgages a lot faster than 25 years if you dont put 20k on a credit card, buy an expensive car etc.
  2. Ive nailed 80% of mine on 5 years, most of my mates are over paying theirs too.
  3. Some people just dont get it. Why pay interest on credit card debt when you have the money to pay it off?
  4. Read the article - no council housing availiable. All this adds up to demand to the private sector. Demand will push rents up. You don't know what my name means? Are you that financially illiterate? As I've said before bubby if you were so clever you - a) Wouldn't be on here ramping your signature Would of sold those 8 rentals in HK in August last year c) Wouldn't post chart after chart or rubbish on here - I dont see any charts from bloomberg, what sort of a big shot hero investor doesnt have that? If you are such a hero investor as you claim to be why are you wasting your time on here 30 mins before the Hang Seng opens? Easy targets? Yeah, Im talking to one. P.S Is that "7 figure portfolio" HK dollars or US?
  5. Whats the upside? You sell and see your hard earned money inflated away? Id wait 2 years. Prices are stabilising.
  6. Of course they will rise. As you say they cant go down. BUT I think it wont be for 12 months yet.
  7. I dont see central bank base rates moving around much - do you?
  8. Yawn - another Detroit story. Why doesn't this happen to NY, LA, Chicago or any other big US towns? I'll tell you why. Because every car manufacturer thats started up shop in the US have opened a plant ANYWHERE but Detroit. Why? Because UAW (union) think a guy installing seats into a car should get 90kUSD a year. It killed itself.
  9. http://news.bbc.co.uk/2/hi/business/8098886.stm The world's largest economies are beginning to stabilise but still face major risks amid an ongoing global recession, G8 finance ministers say. At a meeting in Italy of G8 nations, the ministers said stock markets were rising, interest rates more stable, and consumer confidence was returning. However, US Treasury chief Tim Geithner led warnings that it was too early to wind down economic stimulus packages. He said they should remain in place until a global recovery was under way. At the meeting in Lecce, which aimed to lay the groundwork for a full G8 heads of government conference next month in the earthquake-hit town of L'Aquila, the finance ministers conceded that the global situation "remains uncertain". "Significant risks remain to economic and financial stability," the ministers said in a statement released at the end of their meeting. It highlighted the possibility that unemployment could continue to rise even after output growth resumes. Joint problems But they agreed a joint statement which offered signs of hope after nine months of gloomy economic news. "We have taken forceful and co-ordinated action to stabilise the financial sector and provide stimulus to restore economic growth and there are signs of stabilisation in our economies," the statement said. Mr Geithner said the "early signs" were encouraging, but injected a note of caution. "The global economy is still operating well below potential and we still face acute challenges," he said. "I don't think we're at the point yet where we can say we have a recovery in place," Mr Geithner warned, saying it was "too early" to move away from the interventionist economic policies put in place around the world since the banking crisis of September 2008. UK Chancellor Alastair Darling said Britain's economic prospects remained linked to those of other G8 nations. "A lot will depend on other countries making progress: on cleaning up their bank balance sheets; volatility in commodity prices, oil for example. So I think there are reasons to be cautious," he told Reuters news agency. The meeting comes two months after a full G8 heads of government meeting in London agreed to inject billions of dollars into the global economy. While the finance ministers agreed to begin considering exit strategies from those extraordinary measures, Mr Darling said they were unlikely to come into play any time soon. "One thing we are absolutely clear about is we are not there yet. No-one's talking about exiting now, this is some way down the track. We've still got to work this through," he said.
  10. http://www.londonecho.com/20090612470/land...ing-crisis.html Private landlords are taking advantage of London's housing shortage to charge taxpayers of billions of pounds for sub-standard homes, an MP has claimed. Councils with long housing waiting lists are forced to place tenants in private accommodation - and to pay "astronomical" rents, said MP Jeremy Corbyn (Lab Islington North). But he said he was "shocked and appalled" by the low quality of the homes offered by some landlords. The MP called for rent controls, to set a legal maximum for the amount landlords are allowed to charge. He was speaking in the House of Commons as MPs from all parties warned that London faced a housing crisis. Mr Corbyn said: "In my constituency, as in most in London, the fastest growing sector is the private rented sector. "My local authority, like many others, now routinely nominates people to the private rented sector because there are no council or housing association places for those in desperate housing need. "The rent deposit is paid by the local authority, and housing benefit pays for the rent; and the rent levels are astronomical. "I could give many examples of flats in the same council block where, for example, one is council-owned and is paid for by housing benefit of £100 a week and the other has been bought under the right to buy and then rented out on the private market at £300 a week, which is also paid for by housing benefit. "The amount of public money we are pouring into the pockets of private landlords is ludicrous; the total is several billions per year in London." The total housing benefit bill in London is £4 billion, he said. "In the short term, there is not a lot we can do about that, as the private rented sector is providing housing for people, but rent controls in the private sector would prevent profiteering. "Above all, we should provide far more places built to a decent standard, because I am shocked and appalled by the conditions of the private rented accommodation in which many people are placed at present." Sarah Teather, the MP for Brent East and Liberal Democrat Local Government spokesperson, said one in ten households in London was currently on a waiting list. She said: "Housing is a powder-keg issue. It ignites rows about race and immigration, and it provokes people to lose faith in the system. "It is the very issue that fascist parties rely on to breed resentment and hate." She called on the Government to invest more in building housing for rent. Local Government Minister Ian Austin said more new homes were built in 2007-8 than at any time in the past 30 years. The Government had spent £29 billion since 1997 to bring more than one million social rented homes up to scratch, he added.
  11. Detriot is a one trick pony. Every car manufacter thats started up shop has opened up plants ANYWHERE but Detroit. Why? Because unions have killed it. Whats so critical about Detroit? Chicago or any other large city could fill those shoes. Its not a port.
  12. Its 2000 years old- "Londinium" wont shrink over the long term.
  13. I have to admit I find this entertaining. I've stepped out 5 junior female lawyers and found them to be the greediest, devious, money grabbing uses I've ever met. That sounds bitter and twisted - but its true.
  14. The US banks have already started paying their TARP money back. The UK banks are 6-12 months behind. It wont be long......
  15. Thats the way they have engineered this. More and more people are realising it pointless to hold cash. They know it will either go into property or the stock market. Both will stimulate the economy.
  16. Ealing Council put fliers in maiboxes asking if you are private landlord and have a property to rent...... to them! Councils arent building properties and if they are its crappy new builds with paper thin walls designed to last 50 years.
  17. Thanks johnny. Some people think that because they have been on here for 3 or 4 years they are superior? needle is a t0sser of note.....
  18. Did the govt help the unemployed with mortgage payments last time round?
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