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House Price Crash Forum


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Everything posted by GregBowman

  1. Agree. Inflation is a funny thing you have your own spending profile and hence your own inflation profile, there is a saying in accountancy that many things aren’t material ie they don’t really change the numbers much. Your profile changes over your life cycle of course. Even gas prices now the kids have gone it could double wouldn’t really change our lives, air fares yes our son lives in the US so part of our basket as it were.
  2. Thanks I am a technologist so never anti new tech. The insurance aspect is around liability if you can't pin it down to a person or company then you can't underwrite it, without insurance the concept is a non starter for now (sooner or later it will be worked out)
  3. Insurance for one , massive debate around liability at the moment. Secondly as others have posted , going up and down a motorway is pretty easy . The classic ‘case study ‘ is a country Lane single track and two vehicles meet without a passing place they would just sit there . Third is the spaces hgv lorries have to negotiate to deliver, can’t see AI being able to do that for a long time I look at it this way, car production lines make a standard product with no random inputs ie other drivers and yet still a long way from not requiring people on the lines
  4. Funny enough I was thinking about AI lorries as I sat on my motorbike eating a very nice hog and apple sausage roll at the bottom of the A1 at a Shell garage yesterday. Watching HGV drivers negotiate the roundabout with their 56 tonne machines. My overriding thought was not in my lifetime, the inputs and decisions are simply too complex.
  5. Nicely put Markyh. I can see that happening in many of our working class families who have done ok. However the upper middle classes and upper classes Marty into their own class so preserving their wealth perhaps that’s what happens after a few generations
  6. You have posted some great stuff on this thanks. If your solution breaks down in only in 2 very small sections of society ( by likely cases ) sad but makes it a great solution I am a big fan of UBI adjusted upwards perhaps so more tax is collected through VAT than income tax which ensures that the black economy contributes and anyone who sets foot in the country.
  7. We don't always agree but that is spot on. I would also add if they are spending money earnt by investing in companies outside the UK its sort of like an export isn't it ? What's also missed they pay tax as well on that pension. Many complaints on here about the gold plated pension mob (less than people think) but if their income is a public sector or defined benefit scheme from a big company might as well be a salary they pay the same tax rates on it
  8. Agree re the light touch regulation bit - Boeing 737 max is another example.
  9. I think its more than money but and I am aware of your comment re everyone has started a business and done really well on here you can have done well and just not want to join the club it doesn't interest you. Being born and bred in North London and into a working class family, all state schools and my father was a semi skilled machine operator. Many of my friends are Greek or Turkish or successful blue collar types who started off using their hands like me with a factory apprenticeship. I think its the middle class who judge people by money whilst pretending not to under the smokescreen of culture or reading the right books. Despite many of us earning amounts that put us firmly in the middle class or higher bracket we just don't think of ourselves as such , perhaps my Dad's words ring around in my head 'If you have to work your working class' forgot all the airs and graces. My public school educated children tell me otherwise but that's just their view. Re the successful people on here, many have been on here for over ten years you can tell there is a lot of authenticity in their posts. I know you were talking in general but there really is a lot more asset millionaires around than you might think and most of us started from scratch. None of us are pushing high house prices as good and I can't remember anyone where their house equity was anywhere near a majority of their asset wealth. This is a great forum for economics discussions in general that's why I chip in
  10. Planet UK. For the man or business in the street we generally play it straight. I am talking about daily interaction with the police, the law, local authorities. I get councils are are like national gov. But having sold in Qatar, India and Italy believe me we play it straight.
  11. Away with you and spelling out the truth. The tolerances change a little but not much. 1st world country, when you are ill you get fixed for free. Strong laws, safe country. Start a company for £100. Very little corruption if at all amongst the key authorities, police, tax and local councils Or just blame the boomers
  12. They really didn’t they aren’t all you banging on the lifetime limit 😉
  13. Its a good point in other countries you get relief against private education and private healthcare
  14. To be it bluntly we are well known as a nasty piece of work - our cohort. We also know we were lucky with free education (for a few most of us didn't go to uni), no globalisation so good job market and HPI. We are fairer than you think but keep banging that drum about how hard you are done by and we will go tone deaf. For my privately educated children it is fine and the help I gave them for their first place was obviously welcome. Millions of these walk amongst you. Of the three working class guys who created our business together all six of our offspring are doing ok. Start some weird intergenerational war and what's going to happen ? we will revert to type we aren't engaged politically and don't actively shield our assets but we could. The basic premise you work on seems to be I work hard I get a nice house, someone else doesn't (within my generation) but I have to liquidate my assets is nonsense. The working populations taxes have always paid for the non workers be they children or OAP's nothing changes.
  15. So what you are saying lets go all dog eat dog. I wouldn't wave that carrot as a strategy in front of us nasty asset rich boomers, it won't end well for younger generations. But from the age of 16 to 60 my Mum and everyone else was paying for everyone else so that figure was reversed by some margin.
  16. About what we pay now with a one off granted as a Director no covid help. I pay personal tax, VAT, Corp tax and employers NI. Tax on Private healthcare My higher income attracts more tax anyway
  17. We should put NI on people working after retirement age of course, but not on pension income which is taxed at a very low threshold, my mum pays tax on her total £15k so for all the younger generations the older ones are paying. Still doesn't get over how fair is it that you contribute nothing all your life and get everything for free ?
  18. I sent my children to private school and have private health care do I get the money I saved the tax payer back then ? Doesn't really stand up that argument does it ? By the way as my other comment there are other ways to do it but just to say I don't use the service currently doesn't stand up as an argument in a broad based tax system.
  19. Because its inequitable if you pay in all your life and when you need help you get nothing yet you have an asset and that is taken from you to pay for your care. Will the extended families of all our new immigrants be paying for their care, despite contributing nothing to the system ? So that is how the tax is justified. In reality it is more complex, there is a case for a one off insurance payment against asset stripping and all workers whatever age paying NI as starters
  20. Very well put. I do think older people should cough up some of their HPI gains. The fairest way is a fixed fee one off insurance which I would set around a sum not a percentage say £30-£50k. There will be quibbles but I think fair in the short term. Then phasing as you suggest
  21. Thats what smart meters are all about I understand will detect the very specific draw profile EV's have
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