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Everything posted by sceptic81

  1. Many here complain about young people and how they don't get it (ie they are too thick to understand basic principles of economics) This is a thread from a young person's forum in Ireland. Some interesting opinions on the situation in the UK and the 'economcially illiterate' media here. http://www.politics.ie/economy/152202-uk-retail-price-index-inflation-hits-5-1-a.html
  2. Frame it. It may be worth some money in years to come.
  3. Can I just check? You actually think that Mervyn King personally replied to your letter?
  4. http://www.journallive.co.uk/north-east-news/todays-news/2011/02/01/banks-are-told-to-make-more-loans-to-house-buyers-61634-28089459/ I live in Newcastle. Conversation at work today about house prices because someone had the journal with them. Everyone else agreed with the 'analysis' in the article. Banks are not lending enough. Why are people so thick? Why do people not see that the problem is that houses are too expensive (or to be more exact, sellers' values of their own houses are too high), rather than deposits or lending? Lately, I truly feel that the whole world has gone insane. Why do I not meet HPCrs in real life??? End. Sceptic81
  5. http://www.mumsnet.com/Talk/property/1134040-Should-we-max-out-our-mortgage/AllOnOnePage Should there be a national ad campaign to educate people on interest rates? I am always astouned how many people don't grasp the simple basics. Mumsy A Question: "Our total take home income is about £2200 a month a £190k mortgage would be about £1000 a month is this affordable with having to pay all the moving debt as well." Mumsy B Answer: "I wouuld go for the forever house now. In 5 years time that payment won't seem do much and you are still leaving yourself a bit of breathing room each month." 5 years time? We test people to make sure they can drive a car, yet we leave these people take out massive mortgages?
  6. Learn to spell and fix your grammar. What ever happened to the citizens of the once 'greatest' country in the world, ruling one quarter of the world's people? Queen Vic is rolling in her grave.
  7. Yes, it is an Irish forum. Their equivalent of moneysavingexpert
  8. I am originally from Ireland, lived there until 2004. The house mania was a bit too much for me and I moved to continental Europe for 3 very happy years (genuinely the obsession with houses was one of the main reasons I left - maybe this sounds odd, I don't know?). I currently live in the UK where, among other things, I convert people to our way of thinking - just converted a colleague today by simply showing him a few sums with an inflation calculator. But I just wonder how bad it is going to get in the UK. Look at this: http://www.askaboutmoney.com/showthread.php?t=150241 This is a very common story in Ireland. Search through that forum for many more like it. I know there are people in the UK in serious debt but surely it is not as crazy as this? Or am I just being naive? Many thanks, Sceptic81
  9. Is it just me, or are we hearing more about the 'housing boom' from official quarters in recent weeks? Contrast this with absolute silence on the topic for the past decade. http://www.bbc.co.uk/news/uk-politics-12287963 Colleagues at my workplace are even talking about it, when I arrived in 2007 they were all suffering from house price delusion.... softly, softly, slowly, slowly, change is on its way
  10. and at least there is no educational segregation in Ireland in the same way it exists in the UK. That being said, it would be nice to have the job places for these people
  11. You would not believe how common this sort of thing is in Ireland now.... http://www.askaboutmoney.com/showthread.php?t=149738
  12. As an Irishman living in the UK (since before the crash by the way), I have long understood that a little bit of anti-Irish bigotry disguised as banter is socially acceptable in some circles. As for Irishmen giving up 'their beer' to research why their 'race' is so 'special', I would invite you to come to my little corner of the North of England to see what real alcohol dependency looks like. But, to address your serious point, it is clear that elites have played their part in devastating the country, but it is also clear that the non-elites are to blame, all those people, many of whom I personally know, who thought it was acceptable to take out massive mortgages as if they were going into a shop to buy some sweets. Moreover, teachers in Ireland still earn more than university lecturers and professors in the UK, the police earn far more than the police here (you can not blame the government alone for this, you must also blame the ordinary people and the unions). The ordinary people of Ireland are as much to blame for this as the corrupt politicians and the banks and they know it, just don't want to admit it. As for masses of Irish going to the UK, actually, for the most part, young educated graduates, engineers, doctors and the like, who are in demand in certain parts of the UK are coming here - the tradespeople are going to Australia for the most part. The uneducated, unskilled, jobless are not going to bother leaving Ireland because social welfare provision in Ireland, despite the cuts, is still far in excess of what it is in the UK and elsewhere (perhaps that is still part of the problem). I think, we should not forget that there are countless complex historical, economic and social reasons why Ireland is as it is, just like why the North of England is as it is. In my view, the standard of living in even the worst part of Ireland is still far higher than vast areas of England. Just remember that what happened in Ireland over the past 10 years is simply, as Robert Peston says, a more extreme version of a British disease: http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/11/hl_ireland_an_extreme_version.html
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