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House Price Crash Forum


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About Dorkins

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    Who's afraid of the 'be careful what you wish for' trolls?

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  1. Just look at the numbers. in 2016 the developed world's total investable capital assets were worth a combined $372tn of which $217tn was real estate i.e. most capital is real estate. Real estate prices have been heavily and deliberately inflated by policymakers. When the majority of capital is not operating in anything even vaguely resembling a free market I think it is fair to say that capitalism has been "largely abandoned". http://pdf.savills.com/documents/breakdowndevelopedrealestate.pdf P.S. the situation is even more extreme in the UK where real estate comprises a larger proportion of total capital than in most developed countries.
  2. Communists and capitalists spent the 20th century predicting the demise of each other's economic systems, ultimately they were both right. The West largely abandoned capitalism in the 2000s and shows no signs of reintroducing it, hence the continued existence of this website.
  3. Where you have humans you get fraud, this is not unique to command economies. Who is the biggest fraudster, some small time commie factory overseer who claims his factory made twice as many shoes as it actually did last month or a bankster packaging up subprime mortgage derivatives in a complicated way to sell to unsuspecting pension funds? At least the factory overseer's efforts produced some actual shoes.
  4. 9/11 didn't cause a recession, the 2001 recession started in March 2001.
  5. This is a silly claim, command economies may not be very efficient but they definitely can produce things in the sense of turning raw materials, labour and capital into useful goods and services. How many factories and how much mechanised agriculture did the USSR inherit from Tsarist Russia? Pretty much none, the USSR did that economic development itself. Ultimately all economic systems are just different ways of digesting the huge free lunch provided by the big bang in the form of chemical elements, light from the sun, plant and animal species to exploit etc.
  6. So 12% employee + 13.8% employer (=25.8%) NI would go to 27.8% national insurance on wages. Before a single penny of income tax. 28% NI. Before a single penny of income tax. With house prices costing 10-20x local wages. With defined contribution pensions costing £45k per £1k of pension income. How is Joe Bloggs with his average job and 2.4 kids supposed to make this all work?
  7. £250k is the average UK house. The median person born after 1980 does not live in the average house. As an age cohort they are disproportionately squashed into the lower end of the housing market e.g. private rentals (mostly consisting of the lower quality housing stock) or small new build flats.
  8. That's because compared to the median person born after 1980, you are.
  9. The loopholes are a feature, not a bug. If the tax code was massively simplified it would be much more difficult to legally/semi-legally avoid tax.
  10. Cummings knows his 15 minutes of fame are running out, the longer it is since he was sacked the staler his inside knowledge becomes. If Boris gets replaced as PM then Cummings' currency goes to zero.
  11. Acknowledge that they have a point and that if old people want the state to give them nice things then maybe they should chip in to help pay for it?
  12. Cummings put/kept Boris in power, it's like a dog complaining that it trod in its own turd.
  13. What's the problem? Just whack another penny or two on NI to give the WASPIs their compo, it's not like younger generations need money for their own lives, they are there to keep older generations in the manner to which they have become accustomed. No point in troubling older people with harsh economic facts like real GDP per capita having gone nowhere in the last 20 years, just keep the fiction of economic growth and rising living standards going until they shuffle off this mortal coil.
  14. You are completely correct that the people who went through bad times in the early 1990s with repos, negative equity etc did not know that the light at the end of the tunnel was only a few years away. But the fact is that it was only a few years away and the suffering was contained to a small portion of their lives. The people on the wrong side of the current housing situation have been in pain for over 20 years already and it will likely be at least another 10 years before things noticeably even start to improve. That is a huge portion of an adult life to suffer economically and I maintain my position that the median Boomer/early GenXer has never known anything like it.
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