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About jago

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  1. Best thread on HPC. It makes sense to look abroad to get some perspective. A lot of people in the UK think we have it bad. We do. But you only have to look abroad to see that the situation is widespread. Thank you everyone for posting income to price ratios; this makes comparisions a lot simpler. I can't comment since for the past 5 years I have not had my own home as such - too expensive! Of the places I've lived: Buenos Aires, Argentina: It's a very difficult one to calculate. All I can do is quote what I think my girlfriend, (a doctor) earnt: ~$1000/month. House price, maybe $
  2. Good point! Those Germans aren't dumb. And they aren't poor either. But were they more wealthy before the ban?
  3. Trying to stop a market is rarely a good idea. If there's a problem it's generally better to improve, grow and enable the market in other areas to counter-act the problem. Trying to stop a market is like trying to dam a river. It can hold back a little of the problem but the rain keeps coming and the rats keep finding a way through. In the case of banning short selling, we can all still short sell. To do this, we just have to do it manually, approach someone who owns shares and borrow to sell. It's similar to pawning a wedding ring. All 'banning' does is raise the bar so that the elite are
  4. jago

    Fixing Marxism

    Great link. I'm sorry it took so long to reply! The link to land monopoly needs to be clearer for the lay person. I don't understand why Winston Church wasn't able to enact the land tax from Georgism that would fix the problem in his speech:http://www.progress.org/banneker/chur.html Consider these experiences:- When my grandmother fell pregnant with my father the landlord didn't want a baby in their house so they had to find somewhere new to live. - When renting I meet friends and of course women. But then I find I cannot have them at home because the contract is not designed with flexibilit
  5. My gut feeling is that this isn't enough to help kick off a crash in London but could help along price movements already in motion. Thoughts?
  6. The recent price bubble has been due to China discovering Bitcoin. Go to a casino sometime and you'll learn a lot about the Chinese. Crashing back down today but it'll probably go down to $350 and then up to $2000... or maybe not... no, wait! All on black, double down! Slightly more difficult to buy in the UK. Bittylicious, Bitbargain and local bitcoins for <£1000 purchases.
  7. On the one hand the higher end of the market is a better bet I suppose. Well said. They are taxing solar panels and recently banned rents shorter than 3 months under pressure from hotels. So "that you rent out maximum 5-8 weeks a year" doesn't work any more. With studies showing how NY has boosted it's own economy through increased competition in the hotels sector (http://www.businessinsider.com/airbnb-632-million-economic-activity-new-york-2013-10) this is a good example of how when things go bad a self fulfilling cycle generates, increasing economic problems. Take note because this i
  8. jago

    Fixing Marxism

    The problem with communism is that it just doesn't work. Often quoted by capitalist pigs. Other than the laziness of the statement there are 2 annoying things about this statement. 1) There is no reasoning as to why 2) There is an underlying unsaid insinuation that unfairness is a fact of life. Here's the reason why. Let me state it: Communism is highly inefficient. Turning your back on the market is like turning your back on speech because speech often results in problems. For all it's faults the market is an efficient tool, balancing problems, aiding group decisions. You can't
  9. I think it's important to note that the system isn't a concious conspiracy in one go. It is important to avoid this kind of paranoia. It can lead to illusions that aren't there. The closest we had to conspiracy was the tragedy of the commons. Mostly it's been a slow ratchet effect eroding the individual ever since. "An Englishmen's home is his castle" There are times when things appear like they are manipulated by a single entity. In times past that was called the devil? Are we that paranoid? Better to dodge the debate and start to act united accordingly. The home is the cornerstone of
  10. Yes that's a good idea. It doesn't sound as long term as owning a storage area would be though. And I don't know if I can trust a setup like this anymore than what I currently do, which is leaving things with friends. I've also tried buying and selling things everytime I visit but it's a real PITA. Last time I ended up just giving away a £100 surfboard because I couldn't get rid of it in time.
  11. Lifetime rental. While I still don't want to sink money into a full property per-sec I'm spending quite a bit of time in the Canaries and I need somewhere to store things. I'd like to buy some small storage area because the thought of constantly paying rental for this I don't like. I don't want to get an NIE and go on the radar with the Spanish tax system & government. Can I lease / rent a space for 99+ years instead to avoid the ownership and therefore the NIE? Alternatively can I do some kind of loan setup? Where or who would be the exact people to ask about this when I go ba
  12. Although this thread is (very) old, I think it's OK to bump because it only has one post that was never answered, especially as I can't PM the OP. The NAB has some shady history. I also heard about customers not being to access funds in a "technical problem" (run on the bank?) but I couldn't find much info on this. The NAB has aquired the bank I use too. I'm not sure what this means. If the NAB goes bankrupt I suppose the banks it has bought go bankrupt too? It's basically the same question.
  13. I lost my life savings supposedly to a ponzi scheme a couple of years ago. That is the official explanation from the FSA (FCA) who quote that funds were lost due to conspiquous consumption of the company owner. The 15 other employees have been unaffected while the main guy is expected to go to jail next year. However: - the lavish lifestyle of the company owner was £100,000's and the missing funds are £millions. - the trading history of the investment accounts has been censored from the liquidator who has been unable to check activity on the brokerage accounts. Is it possible that funds
  14. Silver coins: That would be great! But how do I get my company contributions to pay for such a thing? And how do we prevent me from selling them on before retirement? SIPP: So I can transfer what I have already paid in to a SIPP and then continue to have both employers contributions and my own contribute further to this "If the fund value exceeds the 'Lifetime Allowance' of £1.25 million at retirement, then the amount above £1.8 million will be taxed at 55%" ^ hmm... another risk... that the lifetime allowance of £1.25mil becomes worth what £5,000 is worth now via inflation and is barel
  15. I was offered a pension at work a couple of years ago. Even though I am one of the tinfoil hat brigade who can envisiage government pilfering of pension pots (like in Australia via double taxation)... I said yes and started making the mimimum payments. What interested me was screwing my employer out of a little bit more cash. Er, I mean, making most of the kindly provided benefit. However, in flicking through the myiad of investment funds available (Aviva) I noticed that every single fund is strongly linked to the economy where I earn my wages; the UK. The Asian Pacific fund was a
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