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Gone baby gone

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Everything posted by Gone baby gone

  1. Yes, I did say this earlier I think, I was restating it for Venger's benefit. True number of unemployed = 3 million on JSA + 2.5 million on IB = big problem for the government who dares count them.
  2. And was there widespread youth unemployment from 1995-2007? Did the unemployed in the 90s have to contest with unfettered immigration keeps the jobs out of their hands and their wages low should they get a job? Was the cost of accommodation in the 80s and 90s so high that becoming an owner occupier was a distant dream? Did the class of 1985 have to pay for a huge number of old people who require expensive and ongoing treatment? Did those going to university in 1990 have to pay for it themselves with debt, only to realise when they graduated that a first degree was barely enough to secure a position in a high street coffee shop? The youth today don't have to make it though a "bad patch", only to get to happy days of decent jobs and prospects. Their whole lives are going to be a "bad patch" paying for the mistakes of their predecessors
  3. Disabled parking spaces must be the biggest case of "fraud lite" in the history of the UK. Every public (and these days, private) building I park outside is surrounded by these spaces. But when I see someone getting into or out of a blue badge car, less than a third of them seem to have any physical disability. My mother has been suffering from Parkinson's disease for a number of year and despite needing assistance to walk and enter/leave a vehicle has only recently be persuaded to apply for a blue badge. The doctor wanted to charge her £50 to rubber stamp the form confirming her condition. That's the same doctor at the same surgery that has been getting her treatment for Parkinson's for over 4 years! It's like something you'd read about it Italy (just without the sunshine and good food, obviously).
  4. It costs £5Bn to adminster the new scheme: Are they saving £5Bn? They have to save at least £5Bn (is that per year, I have no idea), to break even. This suggests that the vast majority of the people who were on what was previously called "Incapacity Benefit" were not classed as "seeking work" and would therefore not be in receipt of JSA. This also suggests that will change and those ineligable for ESA, will be claiming JSA and will therefore be added to the unemployment statstics. Watch out for a "special exclusion factor" to reduce the effect of this in unemployment stats from the ONS later this year...
  5. If you have £80K in cash floating around, I'd say you have a big pension (I'm presuming that nobody would be stupid enough to have their entire pension in cash with inflation running at 3-5% and savings rates barely matching that). The vast majority did benefit from the boom, with higher government spending, a booming stock market giving higher returns on their pensions/investments/savings and windfalls like free shares in nationalised industries. No free British Gas shares for your average 25yr old couple starting out today, just f**king high gas bills! Mmmm, what was depositor protection before NR... £35K was it? I'd say the British tax payer provided quite a bit of extra protection. Even so, only £85K is covered now so any depositors would have taken that haircut if banks had been allowed to fail.
  6. No, I don't detest them. But you have to admit they are sitting ducks and it does seem somewhat reasonable that they be expected to contribute when a nation is in a financial crisis. You did say you were "happy renting", did you not?
  7. You show accounts that prove the money in your bank account is committed to wages or raw materials, etc. I'm not arguing my understanding of commerce. I'm talking about the logical difference between inflation and a "haircut" of the type implemented in Cyrpus. There seems very little.
  8. Confused? Just imagine how the people at the Jobcentre or citizens advice bureau feel! IB was paid instead of JSA. They keep changing the names and fine tuning the eligibility criteria because that (i) makes statistical comparisons harder (the police do this with crime figures) and (ii) give the illusion of progress.
  9. What you mean is... we really are all in it together*. Dave was very fair, he did tell you that everyone would be in it together, so it's no good getting upset when it turns out he really might have been telling the truth. * Super-rich friends of political class, excepted, obviously. As for all the "shock! horror, think of the pensions" baloney, why should the fallout from literally decades of financial mismanagement fall largely on the young and those in work? The people with big pensions and savings accrued over the last two or three decades benefited from the boom, now they can chew on a share of the bust. The more you think about it, the more it seems logical. After all, how many people could have lost ALL their savings if the government hadn't back-stopped the UK banks?
  10. Well, make businesses exempt if they can prove it's working capital required for operations and not investment capital.
  11. Well, we are "all in together" are we not You thought they would come for the unemployed and the single mums and just stop there? Bet there aren't many politicians with over €100K savings in cash in Cyrpus...
  12. Very rich is relative... to UK averages of £7K. As I touched on before, only the very naive would have over €100K in cash and no other assets or financial instruments. Cash isn't an investment, it's temporary storage of wealth. And the scenarios you describe would be a minority. Not many first time buyers with £80K deposits sitting around.
  13. Yes. When the average UK savings are £7K as pointed out above, £80K makes you very rich (in cash terms) compared to the average. I presume you want to see the value of houses crash. How is you wishing to see the net worth of individuals who have the majority of their wealth is in houses different to another person not caring that those with over £80K in cash will take a haircut on the amount over £80K? Are people who store their wealth in cash somehow superior beings? The moral case is even more precarious for people who STRed, effectively joining the brigade of the financial gamblers in the CIty, but upset when the gamble doesn't pay off...
  14. Anyone who has been on this board for over a month and still has all their wealth in cash probably deserves to lose a fair chunk. Regardless of whether you diversify into shares, precious metals, foreign currency, you really need to diversify.
  15. Thanks for proving my point. In Cyprus, only those with over €100,000 got a haircut. So, like I said, targeted at the very rich.
  16. Are you sure? The new "regime" for JSA could mean that it actually costs the government more to have another 900,000 on JSA due to the admin and constant chasing required, plus the "sign on" bonus that the private firms administering many of the latest madcap schemes is usually pretty high. It certainly won't help them sell themselves to the electorate at the next GE if unemployment has gone up 20% by then...
  17. It was in some cases, yes. But I've heard more than one friend say they were used as cheap labour and then dropped at the end of the scheme. Corporatism in the UK has developed quite a bit since the mid 80s so it's little surprise to see such blatant misuse of the current scheme.
  18. Thanks, that nicely proves my point. The trouble started in the 80s, and they cooked up various schemes like YTS, etc to massage the unemployment stats. 92/93 was the start of the sickness/disability wheeze and successive governments have been happy to let people claim this, to give a good "headline" unemployment rate. The country has been "sick" since the 70s, but this has been disguised using statistical manipulation, increasingly easy credit, good luck (North Sea oil) and riding the coat-tails of the odd global boom. Getting harder to hide it now...
  19. You could argue that it's "fairer" than inflation, as it targets only the richest people, unlike inflation which has a disproportionate effect among the poor.
  20. In other news, the newly elected Pope is Catholic, and bears are believed to shit in the woods. Sickness benefit was where previous governments (dating back to John Major) put people to massage the unemployment stats.
  21. Capital appreciation, balancing your portfolio, safe haven in an inflationary environment, etc.
  22. In the really desirable rural areas, there is limited room to build without destroying what made them desirable in the first place. Plus, the prices are so far removed from what local salaries will pay, that even if they added 20% more housing stock and prices fell a unlikely linear 20% they would still be totally out of reach for most locals. The same thing is happening to London, but on a much bigger scale.
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