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  1. - Sell the NHS, motorways, land and any other assets that can be run privately for a return to the investor - Put the proceeds in a Sovereign Wealth Fund ring-fenced to subsidise state pensions - The Sovereign Wealth Fund is mandated to invest in UK infrastructure projects that can provide long-term returns (admittedly risky!) - Cut all welfare on a continual basis at 5% per annum - Provide means-tested healthcare insurance for those who can't afford their own (families on less than £40k income?) - Encourage fracking - Release 2-3% of green belt land for development - Nationalise all l
  2. Isn't RPI ignored when the BOE sets interest rates? It's CPI that will cause interest rates to rise?
  3. One of the imbalances in the economy, which I'm hoping will help cause a severe HPC, is that interest rates will go back up to the long-term average of 4-5% (IIRC). However, I wonder if interest rates really won't go back to those levels in the medium to long-term as the fallout will be too much to bear. Hasn't Japan kept rates this low for about 10 or so years now? Are there any economic forces that will inevitibly push interest rates up in the medium to long-term?
  4. If you can't be bothered to write properly then how could we trust you to take care in your job and deal with clients professioally. Anyway, I guess you're just trolling since you did say lol.
  5. We've just advertised for graduates and we've had 31 applicants for a £20-25k job. It was incredible but we've rejected over 60% of them based purely on their inability to write a professional cover letter or email. For example, we received the following from 'Yog Man': dear sir/madam i would liek to apply for vacancy "Junior Business Intelligence Analyst" you have posted on prospectus.co.uk pleas find my Cv and Covering letter attached. thank you
  6. It's been a great debate but It's a shame EDM doesn't answer Injin directly as both sides seem to have merit and I can't figure out which makes more sense. I guess if I try to put it in housing terms to try and draw a very simple parallel (albeit contrived I'm just trying to simplify it to see which one I buy). House owners are not lowering their prices enough to get the sales happening - the reason being they're fearful the price they realise is too low to what they think the house is worth long-term. This seems to be the very basic crux of EDM's point - albeit I appreciate they're more co
  7. In my naive laymens terms - I think EDM's point is simply that banks have no incentive to sell on those terms even if they have to write-down the asset value. They'd rather hold on to the asset and this along with several other reasons is why the market for credit is gummed up.
  8. I suspect that Brown's talk about fiscal stimulus (£10-20bln extra) to avoid or lessen recession is just spin to cover the significant amounts of forecasted borrowing required to cover previous spending plans taken into account the impact of lost tax receipts and increase in welfare. Any ideas where I could find the numbers to support such a theory?
  9. Too many times a fair amount of people on this site criticise people who put more than £50k in any one bank...OK, so if you're a STR and have several times more than that, what should you do? Go and open 6 or 7 accounts with different wholly owned institutions, if there are that many out there in fact. That's just really not practical is it? For example, the couple who lost £1.2m - where should they have put their money then to avoid most people thinking they were ****ing idiots and somehow deserved it? The fact is it really is a sorry affair that you can't seem to put any substantial sum any
  10. I can't believe ICICI will suffer, it is too big and important for India. However, I'm embarrassed to say I took out nearly all my cash from it at the weekend and am placing it in the Nationwide. I was spooked. I thought that given the ICICI UK arm is only a subsidary it could fail without either the Indian or UK goverments really intervening (apart from the 50k limit of course)...I mean why would India would want to save the Brits and how could the British govt. justify saving an Indian bank? Anyway, it's an unlikely scenario but just wasn't worth the worry plus Nationwide gives 6.5% in a
  11. OK - this is a schoolboy question I know, but money supply's been growing at double-digit for many years now but I just don't understand where it has gone? If a bank gave a dodgy loan to someone else to buy a house, that money got credited into an account somewhere, so it's still in the system, right...no money has actually been destroyed? So where is it? I suppose one answer is a lot has shifted over to the East and it's just sitting there in SWF's and the like, also inflation has eroded the value slightly but I still don't understand where the majority of it has ended up? Is it the case th
  12. Yes - I think 50% drop means it comes into line with affordability for sure...but I guess where I'm mystified is that the interventions and commentary are reacting to the current write-off's predicated on the current falls of house prices...so where's the planning and discussions about the certain future scenarios of a sustained period of house price falls? I genuinely am surprised that I'm not witnessing this discussion, but I also may well be missing it and it's in-hand within the current bailouts?
  13. What I currently don't see being discussed in the media or by the experts is what is going to happen to the global financial system if house prices halve from the peak? It seems that all the discussion is centered around the fallout happening from just the current situation in house prices which are estimated to be 16% and 13% down in the US and UK respectively. If a 16% fall causes $500bln of write-offs and a $700bln bailout - what happens when the houses fall by 50% (which is a reasonably realistic scenario)? This discussion may of course already be catered for by the various Govt. actions a
  14. What's changed for me is the lack of bulls. I actually used to enjoy the misguded logic of folks like Time to Raise the Rents.
  15. I agree. Clearly people have not made purchasing decisions based on price or yield. They've made it based on the supply of cheap and freely available credit. The point is that those days are gone for a long time. So yes, no doubt, there will be another price boom one day because of the proven irrationality people have in buying houses - however, I expect this to be in a generation or so once the credit excesses of this generation have been laid to rest.
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