Toto deVeer
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Posts posted by Toto deVeer
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Banks won't take milk and chicken as security.
They will take Parmisan cheese.
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I read it as "buy now and make money, house prices always go up".
Yup. I think they are saying that investing in property 30 years ago would today have much better returns than would investing in a chicken that was slaughtered and plucked 30 years ago. I just hope they had the sense to freeze the chicken.
Hindsight is always 20-20.
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I thought he came off as quite and intelligent and confident guy - at least the small segment that I watched.
Unfortunately his job is to convince the public that BOE policies (that are decided elsewhere) are in their best interests. His being here has no other purpose that I can envision. A confidence game.
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It's a start...
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Nick Clegg has been proven to be totally irrelevant politically . He and his party will be wiped off the face of the land at the next election.
Nothing to see here .. move along ..
In that event he will join the Tory party. Job done.
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Nice to see they carried on when the taxpayers bailed them out.
George Osborne said on BBC yesterday that he has insisted that these are not paid by the taxpayer!
No these will be paid by the bank. I believe him
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Not sure that's true. http://www.guardian.co.uk/education/2013/feb/07/rising-number-postgraduates-social-mobility
Snip from article
"While good careers were formerly open to those with only A-levels, the bulk were currently only accessible if you had a degree, the Sutton Trust said, something which might soon become the case for postgraduate qualifications."
Report is here http://www.suttontrust.com/research/the-postgraduate-premium/
As a father with children recently in the workforce and others coming up to working age there has been a sea change in attitudes towards University and work.
For the first time in years, several children are proudly going into apprenticeships rather than University. Some of these children are from very well heeled, well educated families - Surgeons, for example.
My own personal view is that education is still the key for those who have ambitions to better themselves in life. But it is rapidly becoming a playground for the rich.
I read that there were 57,000 places unfilled during the last University uptake. You combine this with the fact that some of the existing students will drop out, and there will be dire consequences for the University system.
I believe that London Metropolitan is unlikely to make it, and that there are 8 or 9 other Universities that are on the watch list. Also I read that major US universities (such as Stanford) are introducing low cost or free online courses and this has the UK university system rattled.
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Ridley ... fought off competition from 26 other hereditaries, including former Tory MP Douglas Hogg, who quit after claiming for moat repairs on his expenses.
Very expressive language. I'm sure he did this in a gentlemanly sort of way
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So unexpected!
(btw - to do this thing voluntarily as Von Mises advises would require changing the entire monetary system - no one will do that)
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Yes, but empty properties would cost a fortune to keep - hence the rent would fall to attract paying tenants. A rental/value equilibrium would ensue.
This is effectively the way land is taxed in America - of course all the other taxes are still in place - so it is far from a Georgian paradise.
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i always fancied having a good look at a triple D bust.
C'mon S&P! Make my day...
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I think we could see 8000 first as this 4 to 4.5 year consolidation has one more leg down IMO to complete a large wave C. Negative divergence in Nikkei RSI and positive divergence in Yen RSI so a big bounce looks like it's coming in the Yen along with new highs in the dollar as the markets go risk-off over the next few months.
Especially if the Chinese decide to do more than just lock on to a Japanese destroyer.
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Black hole! Unexpected!
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it's only sensible either. When I started my business I wanted 20k. Went to the bank with a plan (wish I hadn't bothered) and they said that looks good, we'll lend you the 20 grand but you have to guarantee it with your own money. I said, why not use my own money then and cut out the middle man ?
In the end I just did consultancy until I built up a big enough cash pile to start buying kit.
Business plans are useful for management purposes, but for a bank loan and a start up they are a waste of time - unless there are a number of investors and big bucks are involved.
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Small business lending doesn't work like this at all and hasn't for some time. Because of the very scam you identify.
If you go to a bank and ask for money to start a business, they won't be so interested in your plan. What they will be interested in is whether you will personally guarantee the loan with your own assets, thus negating one of the significant points of being a limited company.
The only way small business will take on debt in a falling economy is if this constraint is removed. As the banks would not do it, then the money would have to be backed by the taxpayer. Then we would be back to square one. So making more money available for start ups is the pushing on a piece of string scenario. You can't force debt on people if they are held liable for the consequences of default, and if you remove the consequences then people will just borrow as much as they can because they have nothing to lose by doing so, either through the business taking off or by scamming the money.
Business loans for established set ups and the M of the SMEs is a bit more complex.
I thought about this too - but for an established, small, profitable and audited business with a turnover in the 2 or 3 million plus range - it could happen.
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One of the weirdest things I've ever seen was that Herman Van Rompuy guy collecting the Nobel peace prize.
Obama got one. Since then he's done away with Habeas Corpus - and signs secret assassination orders weekly. Why not EU/Van Rompuy?
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Inflating the stock market is a piece of cake. Print enough money, distribute it through the usual channels, boom!
Shares are 'underowned' and there's 'piles of cash on the sidelines'...
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^^
This, plus I think an economic recovery would endanger the finance sector, which is where the money for the MPs come from.
Finance is the economy in modern Britain. No hope there. Gilts are our primary export.
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Can't they file an uncivil lawsuit?
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Why shouldn't banks be allowed to lend 100, 200, or 300 % mortgages if they want to and as long as they are transparent and free to fail then they would be the sufferers of such a policy very quickly.
I would disagree.
Unfortunately history shows that you need to beat Usury out of the system by law and force to maintain a civil society. So I don't agree that the way should be open for the money lenders. There has to be laws and enforcement or we will again end up in the situation we are in today.
Who's the expert in this transaction, the drug pusher or the drug addict?
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I am a "fanatic Europhile" but I don't like how the EU is set up right now. I would have wanted an executive elected by the people, not some old Flemish man put there but some other "have beens".
However I won't take lesson from so called "Eurosceptics" who scrounge on the European taxpayer. If you want to fight for your cause you have to give up your seats in the European parliament or shut up.
Danger danger!
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That was true a few years ago, it's around 30% now. In absolute terms the quantity has doubled since 2009, from £200bn to £400bn!
China again?
BOE cutouts in the Caymans?
The Cup Trust?
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Some SMEs operate with the sole purpose of piling on the debt and then going bankrupt. Strategy is salaries, dividends, management fees. Keep the plates spinning for as long as possible then hit the wall. I know at least one SME intimately that operates along these principles. The guy has no chance of paying back his debt and he knows it...
You are a bank manager and I claim my $5..
(I'll send you my loan application later)
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If Mukesh Ambani can build this billion dollar monstrosity home in Mubai - next door to one of the world's largest slums - can London be far behind?
Was I Wrong?
in House prices and the economy
Posted
The theme of this discussion appears to centre around interest rates and Sterling. I came across this yesterday - John Butler of Amphora Capital expresses the UK situation succinctly and eloquently (shift forward to 15:14):