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House Price Crash Forum

Empire

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About Empire

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  1. White elephant in the room: who is this mysterious Satoshi (inventor of bitcoin) and how many btc does he have. Some estimate it to be about 40%, not bad for a bit of programming. Also, the cynical amongst you might think the US government has a huge stash of btc and they are talking up the value (favourable comments in congressional hearing on the issue). They could make a bit of pocket money and crash bitcoin at the same time.
  2. Yes I know what you mean. People seem to think they 'can afford it' just because they got accepted for a mortgage. Will be funny when the interest rates go up, but I doubt that will happen any time soon. There is a house where I used to live which was for sale for years. Yet the owner never once reduced the price... I think people have an inflated sense of what it's worth.
  3. Sorry, but get your head out of your backside. "Entitlement' causes youth unemployment? How exactly? I guess they're all waiting for that £100 p/h job to come along eh? Even though there are thousands of young people (including graduates) all chasing that one job at Costa Coffee. Going back to the question. I'm not sure, it's not something I've thought about in depth, but I'm tempted to say no. Immigration has pushed up competition for low skilled jobs. Manufacturing industry has been destroyed, again removing low skilled jobs from the economy. Even white collar jobs are increasingly being outsourced to places like India, etc. Young people increasingly have to complete globally. I suppose you could argue that scrapping NMW would decrease youth unemployment. It probably would. However the NMW is not a living wage and in most cases and would probably need to be topped up with benefits. In effect it's a state subsidy to private companies. Surely this can't be right?
  4. Then surely the average would just go up and we would be back to were we started?
  5. Surely low interest rates mean people should spend their money rather than save it for near zero interest rates? Also I would have thought higher interest rates = higher mortgages = higher rents.
  6. Empire

    Democracy?

    This. Also party politics and first past the post system, make it virtually impossible for the 'underdog' to ever win in a general election. Also you need a lot of money to fund campaigns, etc. Oh and you need to make deals with the likes of Rupert Murdoch to get favourable coverage in the press, etc. American politics is even worse, basically just run by the corporations.
  7. Reminds me of a letter that I read in the Economist the other week. This is the response I left in the comments section. I fail to see how this 'chiefly' benefits young people, since the average age of a first time buyer is now higher than it has ever been. Also if you look into the demographics of home ownership you will see that by and large it is still the domain of the older generation, who were able to buy their houses at a fraction of todays prices (even in real terms). Low interest rates keep the housing market afloat, this benefits home owners, not young people who can't afford said houses. Houses have been overvalued for a long time compared to the historical cost relative to income. It would be a good thing for young people if the house prices came down drastically. Of course this is not something the Government is likely to allow, as it is not good political capital. With regards to 'get rich quick schemes' I think you will find many older people who have no savings for retirement. They assumed they would be able to sell their house in retirement for many times its value, downsize or rent, bank the profits and live happily ever after.
  8. The company I worked for has recently outsourced a lot of customer service roles to South Africa and India. Luckily I work on the financial services side, so it doesn't effect me. It is a worrying trend though.
  9. Well if they wanted to be able to move easily they should have just rented.
  10. I did watch this episode and did think she was a bit over the top. So it really doesn't surprise me. Even though the woman in the second vid works for the Daily Fail, I did find myself agreeing with her. In the sense that we shouldn't be vilifying people and calling them 'disgusting' for having a legitimate concern or opinion about an important political subject.
  11. http://bitcoinwatch.com/ Wow bitcoin is now $48. It seems to go up a few dollars every time I check. Is this sustainable? Or are we heading for another massive correction? I think it's a bit of a vicious circle. People who have bitcoins aren't selling, because they see the value rising so quickly. People who don't have them want to get in on the action, increasing the price even further. Who will blink first?
  12. Agreed. I think it's wise to take all news outlets with a pinch of salt and not take what they say at face value. I do watch his show every now and then. He always talks down sterling / usd and talks up gold. Guess which country is buying up gold to add to their reserves? http://www.reuters.com/article/2013/01/24/russia-cbank-idUSL6N0AT41J20130124 Edit: Oh and stuff just makes me unable to take RT seriously. Apparently, North Korea are 'fighting back' and are not the agressors.
  13. Yeah. There really is no excuse not to take photos of every room, unless you are trying to hide something.
  14. Indeed. RT is just an anti-western propaganda station. I take everything they say with a generous pinch of salt. As for Alex Jones, he is just a joke, making money from the gullible and stupid.
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