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  1. Unfortunately there isn't enough money in the economy to give a enough for people to live on - even in a cheap part of the country, hence Option 2 would turn into Option 1. How can disabled people or the elderly be expected to earn their own additional money, and hence benefit from a negative income tax? A UBI cannot realistically replace all benefits, which defeats the point of it. Interesting idea. Instead of free education, give parents an educational voucher worth £6000 (source) each year. They can exchange it for a place at a government school, or use it to partially cover fe
  2. Back to the original news article, it seems to be entirely speculation that the vandalism was caused by second home owners. It's hard to imagine the Guardian printing a similar story about crime where somebody was blaming foreigners outright without any evidence.
  3. Yes, but the vandalism tends to get left behind once you get past the university rugby team social events. Do you really think that the sort of person who puts on a suit and tie every day and goes to work in an office, and has presumably done so for several years in order to reach the stage in their financial life and personal life to buy a second home in a Cornwall fishing village, will creep out at night to vandalize fishing boats?
  4. I doubt London banking types are smashing up locals boats in Cornwall. And the thugs don't want to buy holiday homes there (Dubai, Spain or Florida more likely).
  5. Something doesn't make sense about this story. I know there is the cliche of the rich person moving to the idyllic country village and complaining about the 800 year old church bells and the smell of cow dung, but vandalizing fishing boats seems like way beyond what anybody would do.
  6. Exactly. Nowadays it is not unusual to have a parent still living when you are in your 60s, and even your 70s isn't unfeasible. For me the downwardly mobile middle class is exemplified by people relying on parental handouts as adults to give their children the lifestyle that they experienced as a child. Grandparents paying the school fees for the grandchildren (as the middle generation can't afford it), grandparents paying for the holidays at Disneyland. I don't know what will happen when it moves onto the next generation, but it won't be pretty.
  7. When it's your own earned money (as opposed to gifts, benefit payments, inheritance, partners income) you are far less likely to piss it away on crap.
  8. It's depressing. I know people in their 30s in reasonably well paid professional jobs whose whole financial plan seems to be wait for their parents to die. Their expectation is to get the equivalent of a 10 year salary lump sum inheritance*. The argument is why bother to earn or save when there is an inheritance coming that will dwarf anything you can reasonably do yourself? *Conveniently ignoring care fees, parents living until they are 100, secretly leaving it to the cat's home etc.
  9. https://www.theguardian.com/money/2021/may/01/mortgage-prisoners-distressed-and-betrayed-as-mps-reject-interest-cap People who are stuck on legacy mortgages at high interest rates from collapsed banks will not have their interest rates capped. The question is never asked in detail as why they cannot move mortgage providers to one with a more competitive rate. The Guardian glosses it over with "Issues, such as negative equity, having an interest-only mortgage, missed payments or changes in circumstances, have prevented them from switching to a new lender.". Northern Rock and Bradford
  10. That's the exact point - stimulus infrastructure spend would be spent on vanity projects that take years to complete, with most of the money being siphoned off. The word "stimulus" implies that it would be a quick shot.
  11. Borrowing to invest? This isn't the 1930s when the government can tell all unemployed men who want a job to turn up Monday at the new autobahn route or at the dam site in the Colorado River. To organise any major infrastructure project will take years and years of planning - look at Crossrail and the Heathrow third runway. If the government borrowed to invest the money would flow straight into the pockets of consultants and companies like Carillion, and would be used to dig up perfectly good roads before actually flowing into the regular economy.
  12. Like most things, it is very poorly thought out by the government due to their inability to look any deeper than the superficial surface, apart from "will it raise house prices?, and believing whatever story they want to believe. My understanding that British National Overseas status could only be obtained by those living in Hong Kong before 1997, so the youngest people who could come to the UK would turn 24 this year. This stops most of the younger population from arriving. The wealthy in Hong Kong already have their money spread around the world, and so there is unlikely to be
  13. The expenses scandal was before that - 2009. Look at a house price graph and it shows prices steady from 2010 to 2012.
  14. My impression was that from 2010 to 2012 house prices were generally stable in nominal terms. If they could have kept this up it would have allowed (wage) inflation to gradually shrink house prices in real terms, but without the stigma of sticker prices falling and negative equity.
  15. It can signify the end if you are on the left or the right. The left say that with the threat of future communist revolution removed, the capitalist leaders in the west no longer felt the need to share the wealth around. The Soviet Union acted as a constant reminder of what happens if you push too far and don't keep the proles happy, and offered a ready alternative. The right say that with Soviet communism removed, people in the west lost their fear of communism. Political ideas that pre 1989 would be unthinkable as "communism" gradually became allowed to infiltrate. This allowed for
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