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subsidiser

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  1. So the person leaving the inheritance has a greater incentive to make money (presumably because they like the idea of working for their offspring more than working for themselves). But what about the offspring who inherits? Surely they are brought up in the belief that they will not have to do anything other than safeguard the inheritance? And what about the effect of this on society as a whole? People then get used to the idea that Mr/Ms inheritor has wealth that is unobtainable by working - surely the incentive for them to work hard disappears? I say inheritance tax should be 100%
  2. Indeed. And in fact 1979 onwards, under the Tory Govt was a genuine attempt to make markets work better and improve social mobility. Do you remember that thay clobbered The Duke of Westminster? (edit - I thought the "multiquote" would actually multiquote - but it didn't so we're missing the reference to 1979 that was replied to here)
  3. They unleashed the forces of hell (ie engaged in some mild critisism) because he ANNOUNCED the recession. He did NOT PREDICT it. I think we're entitled to critisise the A-hole.
  4. Absolutely right. In terms of what they did the Major Govt was one of the best! But the party was fighting amongst themselves and the press was trying to sell newspapers so the Great British Public fell for the Nu Danger Party. It took a long time to destroy the economic conditions that the Major Govt handed over but the Labour Party managed it.
  5. You people forget that its a big wide world out there. Places that we in UK have to fly to are places that other people can drive to... and many of those other people are getting gradually better off. ... besides there's always Wizz Air - a much better experience in my opinion that Ryan Air. Ryan Air absolutely sucks - extra queing, extra charges and extra far away from the destinations it supposedly serves.
  6. I was watching a CNN report on Afghanistan the other day and I was dismayed to see that one of the "positive" aspects of what we're doing there was the fact that they had managed to produce their own x-factor-like talent show.
  7. They only did that because seeing another human being once in a while is an EVENT for them. (Only kidding Arran) (to some extent anyway)
  8. So where do you keep your gold? Is your mouth so full of gold fillings that you lose a couple of grand everytime you brush your teeth?
  9. Credit is not designed to make you poorer. You can use credit for whatever you want. If you use it to kickstart a business venture (not BTL OK?) then it COULD make you richer. The West is not poor and is not getting poorer (OK so the numbers are negative just now - so right at this very moment maybe it is getting poorer - but it will be back soon, very soon now). Many other countries are catching up with the West now - but that doesn't make us poorer, it makes them richer. I think your figures above (if true and I don't doubt them) show that INEQUALITY is great in these countries and a few
  10. Instead of taking it to the bank you should take it to a small shopkeeper or pub. They apparantly pay a premium to get hold of small change (though we're talking about neatly packaged up bundles of change here - not a few pence that you pull out of your pocket along with some chewing gum and bits of tissue paper).
  11. Robert Peston has something to say about QE - Let's assume, which isn't necessarily the case, that when the Bank of England buys gilts from investors the cash ends up in the British banking system. Well, if the cash is classified by the banks as a customer deposit, which it might be if the investor that has sold gilts to the Bank of England happens to be a relatively small and unsophisticated institution, then the banks say "yippee". Because that deposit increases the ratio of supposedly stable customer deposits to loans and advances: it reduces the banks' dangerous dependence on flighty,
  12. Well. I'm turning more bullish and I'm quite long in the tooth. I was a bull before, then a bear. Now I'm getting more bullish again (though still a neither at present). Hoping for a big V-sign from the USA.
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