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spyguy

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Everything posted by spyguy

  1. Buttonwood's been banging on about this for a few years: http://www.economist.com/blogs/buttonwood I heard Paul Mason say it last night at the start of last night bearfest on Newsnight. That was the first time I'd heard the phrase on main stream media. Admittingly, I doing less main stream news In short, financial repression is ts screwing your savers. Problem is, apart from a short term, how do you do it in the medium to long term when there are no capital controls and very a shrinking number of savers?
  2. The demographic are going against us now - literally. The boomers started retiring thisyear. The big bulge occurs in about 5 years. 2012 onwards is not the best of time to have a an economy overburdened with debt.
  3. I used to go to the Isle of Arran when I was a kid. I enjoyed it although it was pretty primitive in the late 70s. Best memory was the streams full of little trout and seeing some Basking Sharks just off the pier. I did ahe a year in Dundee. I remember a trip to friends in Perth where we had to hand around til the rain stopped then were eaten by midges. I have a future family holiday planned on doing a Rail rover up to the Kyle of Tongue. I promised by mum to visit where my Grandad came from soon. I reckon 7 days of rail travel through the highlands will keep and the boy happy. Not sure about GF and the girl. Might need to leave them in Eburgh.
  4. 80% of people go on holiday to get some sun. And booze. You only of have a 30% chance of that in the UK in August. Combine that with the UK being outrageously expensive, even with the pound devalued. End of the day, Spain will be giving holiday apartments away to get the passing trace and currency into the country. Me + Gf used to go to Barcelona, self catering during the day, eat out at night and it was really good value.
  5. Easy answer never buy somewhere where an independent household live above your property. Or, in the case of the bank, never lend money to the previously mentioned.
  6. Hebden has some very strange house building styles. Can't remember hat they are called -the houses that have a flat above them. A lot of places were unmortgable until the mid 90s. Not sure if ive got the name right but the Pennine Society lobbied Bradford and Bingley to get them to allow mortgages on them. I think my sister got her place for under 30K in the early 90s. She's trying to flog in for 140K. Just as well B+B was not sold to some scammy Spanish bank who are probably bust. Personally, I don't like Hebden. Its nice on a warm summers day but cold and miserable in from Oct thru to April. And the constant right-on wimmin get me down.
  7. And Bradford and Bingley. Are they doing OK?
  8. Doley - well 16hrs + works in the shop. Aspirations to become some sort of public sector paid wimmin.
  9. Sister's selling her house in Hebden. Bought for pennies,selling for millions. Not quite, but you get the idea. The main occupation of Hebden's population is doleys or lesbian social worker. Anyhow, I've been using rightmove for comparing sister's overpriced house with the competition. The initial conclusion is that the she's grossly overpriced - much better, bigger places for 50K less. The next observation is that the towns full of empty houses. There's no tape over the bog -classic repo sign. But a lot of the places are ****** empty. Some look like the occupants have just disappeared. I cannot work out is they are repos, ex-rentals, or development properdees gone wrong.
  10. Fail to see how. At the macro level, it would be interesting to see if what UK gov's deficit is like at the end of parliament. I'd be suprised if they've got it to 0. Then they have to start the process of paying it all back. Basically, that means unravelling GB's 'get everyone working for the state or on benefit'. Seriously, do a count of the number of people either on benefits or working in a public funded org, or the new one - 16 hours tax credit jobs. I have - it reaches about 70% in a nominally prosperous town. All at the same time you get a large number of boomers transferring from working to retiring. A large number ofwhich are unfunded public sector jobs. Greece is the word!
  11. http://www.ft.com/cms/s/0/3e46ac04-67fd-11e1-978e-00144feabdc0.html#axzz1oJrrQbvD Ultimately, the creditor calls the tunes. What people fail to realise is that the US was a net creditor til the mid-80s. The past 25 years have been about slight off hand and central bank BS. Its failed. God knows what's going to happen in the UK. The recent series of SVR rate increases fom the bank could reflect that the BoE is getting ready to normalise rates. It costs UK banks a !lot! to raise money for mortgage. The SVR are starting to reflect that.
  12. Got it. Rising Sun. Its a gay bar now apparently. God. I spent an afternoon letching at a barmaid with the most fantastic ar5e on Saturday. How times change.
  13. Sloughs not a towns. Its a disease. WIth round-abouts.
  14. Can't remember going to it. There did used to be the rock pub in that area. It had arhono's head in it - i've never been in there sober - or any in any level of consiousness.
  15. Have you noticed that everyone's anecdotes about Reading are about drinking, doing drugs, getting stabbed or leaving? Pipers Island! That place on the river on the way Caversham. Fell in the river there. P1ssed.
  16. Is the the Barrel one on Broad Street (?) Or the Purple Turtle? I used to go to the turtle in the early 90s. Fall of nurses. God the nurses hall of residence by the royl berks was like a prison.
  17. Oh my housemate worked there. Derek the manager used to let us in for free. He thought he was doing us a favour. He wasn't.
  18. It only works once these days. SSTC - legally? Nothing. Might as well say Flibble.
  19. I've always liked Smelly Alley. I liked looking at the fish. I still have fond memories of going **** over t1t on the trippy tree. Ooh, I remember a dead hermoprodite washing up in the lock near the IDR//Rod and Tackle.
  20. I worked in Bracknell. I lasted 1 year in Wokingham -nice but very very dull for a 22 YO Then did 2 years in Reading. That's the closest I'e become to being an alcoholic. Reading just sucks the life out of you. It was not a very fun place in the early 90s. Best thing was the fast train to Paddington. Nope - best thing is that it was not Bracknell. Not a single person I worked with - in the range of 50, or knew - probably 30 odd - still lives in the area. Unusal, as some got shacked up with local girlies. The girlie was always the most keen on leaving mind. It does appear to be on the rapid downspiral again. The feel-good tide reached when Worldcom did it's building. The compnay was bust = the CEO in jail for ever before they moved in. The fiasco with John Madjeski/staion redevelopment is just another nail. This was built on the premise that people can travel from Paddington and work in Reading - much cheaper office etc. Problem is - people in London have got to get to Paddington - not the best commute. Then they have to travel to Reading - not cheap. Reading has a terrible reputation for knife crime. The irony of calling the new white elephant The Blade appears to have escaped them. When I first came into Reading, the big pinky building around the station had loads of banners saying - Office available etc. If Iive to be 100 those banners will still be there.
  21. It was theSOuth today bulletin after the news at 10. I cannot find it on iplayer. I pretty sure that the CAB bloke and the RBC woman said 25% of the housing stock - so that's social and private. Bare in mind that Reading has seen a LOT! of small flats built in the last few years. I've not been to Reading for about 5 or 6 years. Even then, the place was stuffed full of pokey, [email protected] places being built right up the road or pavement.
  22. A piece on Reading rentals - basically slumlords doing the normal collecion of scams etc. Council person made a statement along lines of blah blah now that 25% of the housing stock is in the rental sector! It's been a long time since I lived in Reading. I lasted 2 years. The problem I see is that Reading is basically a cr*p hole - If you do not have a reasonably well paying job you are not going to live there. If you lose your job - your off. Nobody I knew from my time in Reading still lives there.
  23. So, he's got 15 BTLs.none of which throw off enough cash to pay down the loan. Cretin. His problem is not in 15 years time. Its now. Seen this before - the rentals go from worn to a dump. His choice of tenants plummit. I monitor rentals in an number of places -not Lodon. Tehre really does seem to be a large over-supply.
  24. I've a friend who's one of the Ugandan asians. His family lend each other money between, sometime quite substantial amounts - several 10ks I asked if they ever worry if they'll ever have someone not pay it back. He says No. They do do some credit check, check for fecklessness. But it works out - they lend at rates higher than they can get for cash. The borrower gets cash at a lot less thanthe banks will lend. Cutting out the middleman. My youger sister is after borrowing money. Not approached me directly, but implying it. Of all my siblings, there is no way on earth Id lendto her - ffing lazy. But I work two jobs she says. Yeah - 4 hours in one, 10 hours int he other. In an ideal world there should be no problems - she borrows cheap, I earn better than cash.
  25. Its hard to say whether the UK is worse or better than it is ever was. The UK is one of the poorest skilled places in Europe. If you've been to uni and work in a skilled (or semi skilled) job you probably arent aware of how poorly skilled a lot of the population is. Not really possible now, but when I worked crap jobs in the summer holiday - hotel grunt work, building site grunt work - I came to the conclusion that if you wanted someone to follow and write simple instructions - say instructions on how to use a bit of kits that needs more than pressing an on and off button - then 30% of the working population would be useless. If you wanted simple maths - percentages, working out areas tec - then 50% of the population is useless. I know when I talked to my mum about my brothers unsuitable mortgage 170K @ 7.5%. I said 'He can't afford that'. My mum said ' I don't really know percentages but Im sure the bank would not give them something they could not pay back'. This was last year!!!
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