WinstonSmith
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Posts posted by WinstonSmith
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1 hour ago, VeryMeanReversion said:
Interesting anecdote. It reminds me that we are all competing for resources but many people will take on any amount of debt for a house or car without considering the risks/consequences. Their behaviour is only limited by available credit. Many people are simply incapable of understanding those consequences and may eventually be ruined by it. Even if there were minimum maths and legal qualifications to enter into debt-contracts, I don't see how this can be avoided.
I don't even try to compete in the new car PCP competition. My daily driver is a 170K mile worthless but reliable VW that I've had since new. Unexpectedly, the older and crappier it gets, the more I seem to enjoy owning it. I have a couple of zero-depreciation sports cars in storage but I seem to be using them less and less.
I think you're exactly right: as long as they are able to buy them then they will, irrespective of the financial consequences for them and their family.
I see no remedy other than very strict access to credit.
I'm with you on driving well maintained older cars, it's great knowing I paid a couple of grand for something that will last me ten years plus.
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23 hours ago, spyguy said:
Partner works at a school.
All the scratters - and I mean scratters - drive the 1 or so in 4 year old Jags.
Big engines jags depreciate like a rocket powered brick.
So they get the 4-5k on a loan/PCP. The petrol guzzling does not bother them as they could walk the 1-2miles to school.
They drive up abut 40 minutes before pick up time, turn the engine off and just sit in the car. This ensures they get a palce close to school. And as neither work there's no rush o ntheir time. Its just used like a 20mpg sofa FFS.
Beggars belief doesn't it?
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I've been to a car dealership today to sell him some oak frames and the owner (local gangster) must have two million quids worth of 2-3 year old ex PCP Audi's, mercs, range rovers, jags on the forecourt.
The people looking at the cars weren't exactly wealthy looking so I asked him how they could afford them:
"They can't. It's all on finance. Ive got families on benefits driving range rovers. F#cking idiots".
It felt like the stripper scene from The Big Short.
This will not end well.
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3 hours ago, Sour Mash said:
I've seen adults just grab sandwiches or bags of crisps and start eating them as they walk around the Tesco (multiple stores), or a can of energy drink. No idea if they pay at the checkout but I would suspect, not (I'm certainly not going to trail them around the supermarket).
Even if they do, WTF is wrong with them - do they have no concept of how to act in public or the tiniest bit of self-control? "Oh, me hungry. Ah, sandwiches! Me eat sandwich now!"
That's precisely why, because they have ZERO idea how to behave in public.
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All of which requires the credulity to buy the b#llocks they come out with.
Or were you expecting them to just come out and say "I pi## all my money up the wall on cider, fags and scratch cards. Then I come here and they give me free food."?
But, hey, you have a new statesman story so i bow before your great insight.
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All factors that apply to the other countries. So p#ss poor excuses......
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8 hours ago, durhamborn said:
Same here Aldi car park stuffed with £25k+ cars.The couple over the road have two on PCP.You can tell because towards the end of the month he stops driving his on a weekend and drives hers.His miles must be up.Never see that couple in daylight from October to the end of Feb,out working,no wonder they look like death and pale..My 10 year old van i paid £800 for past its test last week first time.Most years it costs me around £250 for parts on average so 1 months PCP,but this year i might get a year for the £40 MOT.
I have to ask, what make and model is your van?
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I doubt there are very many people in this country who genuinely require a food bank.
Oats, potatoes, frozen vegetables, all dirt cheap. Too poor? Too bone idle to cook more like.
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Spot on.
If ever there was a PM whose image was utterly divorced from reality then it's Thatcher.
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Conservatism didn't begin with Thatcher. Difficult concept to grasp maybe but true nonetheless.
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Our governing class have imported millions of people who either want us dead, will help those who do, or won't get their hands dirty but think we had it coming.
That is all.
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Anybody can have ideas—the difficulty is to express them without squandering a quire of paper on an idea that ought to be reduced to one glittering paragraph.” –Mark Twain
A lesson one on this thread needs badly......
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He's worth about 300 million and has a stunning Italian girlfriend.
His life is awful apart from that though.....
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I'm self employed so I'd decided I'd be paying myself 100% again this year.
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Amber Rudd's millionaire brother is a huge supporter of immigration and I creasing the number of asylum seekers we take.
From the comfort of his 5 million pound house in the country.......
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1 hour ago, DrBuyToLeech said:
This, a million times over. It's the lying I can't stand.
You think immigration is wonderful, fine, but don't try and rewrite history to fit.
Yes, there have always been immigrants coming to Britain, the same way that there have always been lions.
Superb quote lol
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Whilst there now seems to be overwhelming agreement that something nasty is finally coming down the tracks (sooner rather than later) I've never seen such disagreement on here as to the best course of action to protect ones wealth when it all goes down.
I've seen bonds, shares, gold, cash, classic cars, vintage wine, antiques and even btl recommended as the best way to emerge on the other side in a position of financial strength.
Given the number of people on here who've given this a great deal of in-depth consideration, I thought it might be beneficial for all of us if we shared our ideas on a dedicated thread and debated the strengths and weaknesses of the options.
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15 hours ago, winkie said:
Don't you agree that when some people have a spare few quid left over at the end of the month they very quickly find something new to spend it on.....a car or a holiday, days out.....cheaper lending = more lending.
Which ties in very nicely with the fact that hardly anyone in this country has more than a few hundred quid spare at any given moment.
The number of lads i know who work offshore and drive Q7s and Range Rovers is phenomenal, up to their eyeballs in debt and the minute they get a pay rise theyre desperate to find something to spunk it on.
It's as though money is a ticking bomb to rid oneself of immediately.
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9 hours ago, CunningPlan said:
You clearly have discovered a new definition of moron. Is it 'someone who doesn't agree with my view'?
Well that goes without saying. It's the guiding principle of the left.
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House prices fall, it's brexit.
House prices rise, it's brexit.
???
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Western society is in decline and will collapse within a couple of decades, but it has nothing to do with house prices and economics and everything to do with demographics.
We continue to import people who haven't lost belief in their own culture as we have and so the future belongs to them. Think Mogadishu crossed with 80s Beirut and that's the future.
A country is a promise, not a guarantee.
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1 hour ago, VeryMeanReversion said:
"From Zero to Financial Independence in less than 10 Years: Tools and techniques to escape the rat race quickly"
I got my paperbook from Amazon.
Many thanks
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2 hours ago, VeryMeanReversion said:
I've finally bought some PMs for the first time as an investment. I went for £10K of platinum held in a SIPP after I noticed the price dipped around 5% this week. I'll buy more if it goes down further up to a max of 15% of SIPP. Maybe everyone expects catalytic converter demand to dive in an all-electric car world.
I've grown to hate cash. They just keep creating more and more of it out of nothing. I'll do P2P with the last of my cash when the SIPP supports it (hopefully this year). I'm ~70% equities now and the divi's are spinning off £1k/month.
I actually spent some money on myself this year, bought WICAO's book a few weeks ago. My extravagance knows no bounds
Could you tell me what WICAO'S book is titled please?
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36 minutes ago, TheCountOfNowhere said:
This appeared today..
£2.1M inclduing the 3 bed house they've been tryign to sell fopr 750K for a while now.
http://www.rightmove.co.uk/property-for-sale/property-66133604.html
That's 30% up on last purchase prices.
NMot a bargain after all
Now I'm really confused.
So it has 8 bedrooms instead of 11, it sold, then within a day it's back on for 800k more?
BoE investigates 'terrifying' rise in borrowing to fund new car purchases
in House prices and the economy
Posted
2005 Toyota Hiace LWB for leisure and work. 2.5 D4D diesel engine which, like the whole vehicle is massively over-engineered and they just do not go wrong. Brilliant vans.