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House Price Crash Forum


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Everything posted by Dorkins

  1. Same old neoliberal TINA line we've all been fed for the last 40+ years. Funny how the answer is always to to raise pension ages and cut public services. The productivity problem couldn't possibly be down to far too much investment being allocated to bidding up real estate prices instead of creating new productive capital.
  2. China has better infrastructure than the US and actually bothers to prosecute and punish corrupt business leaders.
  3. Some of us consider it unethical to dump obligations on future taxpayers without at least handing them a pot of capital to help meet those obligations.
  4. There are only so many real resources on the table today, they can either be consumed or invested in capital projects. When somebody pays into their DC pension they are putting some of their share of resources into capital investment instead of consuming it. Nothing is "taken out", it is just a decision by an individual about whether to eat their corn or plant it. The corn still goes somewhere. The creation of capital projects is also economic activity.
  5. Yes, 100% this. If the rest of us have to pile up large quantities of capital to fund our own retirements I don't see why public sector employees should be any different.
  6. Wrong, economic output is a function of both capital and labour. Future output can be increased by investing in productive capital now so that economic output will be higher in future even with the same labour force. With unfunded pensions there is zero attempt to create new productive capital to help meet that future expense.
  7. The 1995 government and 1995 fireman both agreed the fireman's pension would be some future taxpayer's problem and no pot would be set aside to help the future taxpayer make the pension payments when the time came. The future taxpayer was not consulted on this.
  8. I think by its nature HPC.co.uk attracts people who are a bit square peg in a round hole. The rich people who are round pegs in round holes are just off enjoying the system, not questioning it.
  9. The Establishment learned a lot from Corbyn, before him they assumed the plebs could always be convinced to vote against their best interests (which is why from 2015-17 they just laughed at him rather than attacking him) but he got very close to disproving that in 2017. They will surely do a much better job of preventing another Corbyn from now on e.g. by making sure nobody like that ever gets to the top of a major UK political party again and attacking that person relentlessly if they do.
  10. On Twitter I'd love to have an option to mute the verified accounts, they are the ones that really make it toxic. When Twitter accidentally blocked all the blueticks for a day it was great, the plebs were free to chat amongst themselves without the professional propaganda, lies and aggravation pump in full flow via the bluetick accounts.
  11. HAs are a bit of a grey zone but one major difference with fully public sector organisations is that at least some of their employees are on DC pensions. Don't get that in the proper public sector. https://www.tpt.org.uk/schemes/shps-dc-employer
  12. That's the danger of any pension scheme that piles a load of people's fortunes in together, there's always a question of whether the levels of inflows and outflows and the current contents of the pot are actually going to add up. Really the only way not to have that question mark is individual SIPPs where you get whatever's in your pot and that's it.
  13. That's just factually untrue. If the pension scheme holds actual assets (equities, bonds etc) then it is funded. If it's just a list of who is owed what then it's unfunded.
  14. Are you in favour of removing anonymity on forums then? If so why aren't you posting under your real name?
  15. Of course she is, the Tories have figured out that the best way to retain power is turn the UK into a theme park for the over-55s. What anybody else wants or needs is irrelevant.
  16. A bigger gas and electric bill doesn't make it easier to pay the mortgage.
  17. I'm not a fan of this "oh you're not an expert so pipe down chum" intellectual snobbery. I have no problem with laypeople attempting to engage with technical subject matter, fair play to them for making the effort as most people don't. As Robert Heinlein said, specialisation is for insects.
  18. Only unfunded pensions are deferred pay, for funded pensions there is no deferment from the perspective of the employer. Yes, it was the government's choice to operate unfunded pension plans for most of its employees. Perhaps a future government will make a different choice.
  19. Some UK public sector pensions are funded but admittedly it's a minority. Each bit of the UK public sector has its own arrangements, there's not one single 'public sector pension' structure. Other countries do it differently e.g. the Ontario Teachers' Pension Plan is one of the largest institutional investors in Canada i.e. they actually have a pot that is invested in the economy, not just an IOU as the UK teachers have: https://en.wikipedia.org/wiki/Ontario_Teachers'_Pension_Plan
  20. Okay, but the problem is that with houses and pension income so expensive relative to wages "some sort of roof over your head and food on your plate" in retirement is not a trivial achievement, particularly for younger generations on the wrong side of asset price inflation.
  21. Not sure about Portugal but retiring to Spain on a low income is difficult as they have a minimum income requirement for residency for non-EU citizens. Can't see why they would change this in future, what would be the advantage for Spain in hosting a load of impoverished British GenY/Z pensioners crippled by decades of HPI stoked by the UK government? Leave it to the UK government to sort out.
  22. Sounds like you may be in the typical defined contribution scenario of heading for a likely final pension pot at retirement age of £50-100k, perhaps a little more depending on your current age. At a 4% drawdown rate each £100k of pension pot would give you £4k pa of income in retirement.
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