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Tiger Woods?

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Everything posted by Tiger Woods?

  1. Reality hasn't hit in Australia yet, but it is beginning to. The commodities markets are still booming, so Oz is lagging the US and the UK.
  2. Can't quite work out what settings are required to allow me to receive personal messages - on the face of it I should be able to. Anyhow, thanks for the information. I haven't been around the nice part of that area for a long time and had more or less forgotten about it. Having said that, I can remember visiting a college porter who lived up that way 15 years ago, and thought it was quite okay. House was quite small though iirc. Should refamiliarize myself with the area. My recollection of other parts nearby is that they were pretty dire though. Still no intention of buying as I'm Australian and planning on heading home within the next 2 years (been saying that for the past 15...)
  3. I refer you to Rule Number 1: never, ever, ever, believe a word of what Goldman Sachs say in public. It is, in my opinion, always disinformation, else how can they always be doing so well, whilst being wrong publicly so many times.
  4. Interesting. Could you give me a couple of street names so I can cruise by and have a look. I'm sure they exist, but they must be wonderfully hidden. Good luck with finding somewhere to live btw. I'm amazed you can find somewhere nice where the interest on the mortgage would be less than the rent.
  5. Abingdon and local areas - rents appear to be up circa 10% from 2 years ago for 3 bed houses or equivalent.
  6. Bear huh?! Right...please Mr. VI go and peddle your life destroying dope somewhere else.
  7. Ample street parking for visitors anywhere within the ring road?! Do we live in the same Oxford? Actually, I no longer live in Oxford - moved to one of the small towns within walking distance of a train station. Much better quality of life...at least when the trains are working! You should consider it. Seriously though, the problem with Oxford is that the housing market has been screwed up over the past couple of decades by London workers wanting to live out of London and send their kids to one of the many good schools in the area. I remember quite a few years ago now, circa 2002, my D.Phil supervisor was living in a college house in North Oxford in a nice area (still no parking). The house on his left was bought by a guy who owned a junk shop for £5000 in the 70s. The house on his right was bought by 2 London lawyers around 2001 for over £1000,000. Another friend's mother lived in a similar house which she had bought 30 years previously for under £10000, but was now valued in the millions. Anyhow, one day the mother was cleaning the windows and was approached by a rich arab and his entourage who asked who owned the house she was cleaning...they couldn't quite believe it was her.
  8. Could you direct me to a source for the requirement of both parties being informed of the recording for it to be legally admissible? I do know that in this country (UK) taping a telephone conversation is perfectly legal provided at least one of the parties knows about the recording.
  9. Supply does not have to drop 20% for a 20% increase in price...the interrelationship between price and availability is not linear...all that is required is that we reach a point where demand outstrips maintainable supply. At that point we find the true value of oil, which may be many multiples of the price when supply can outstrip demand.
  10. You are joking right? Inflation punishes savers because they are taxed on investment capital appreciation and the interest they earn on their savings. Wages also tend not to keep up with the increased cost of living. The winners tend to be those in debt and the government who gets a nice stealth tax. Think about it for a minute - if you win by being able to pay off your mortgage so quickly because the cash you bought it for has devalued, the person who sold you that house has had to lose as the cash has devalued (unless they bought another house).
  11. What it says in the title really. The agency got in touch. Landlord wants a 6 month agreement whilst they see where the housing market is going instead of the usual 12 months. (I could tell them where it is going, but that isn't likely to be in my interest.) They bought the house we are renting for 155k some time ago. Recent valuations are 240k+. (Personally, I wouldn't pay 155k...but...) I suspect that they will want to sell in 6 months. Will probably propose a "we will stay in at reduced rent until you sell" deal when this next agreement ends.
  12. Someone, elsewhere on the forums, provided an anecdote about DWH being willing to knock another 40k off an already discounted home, bringing a list price of 375k down to 280k all because the buyers had managed to sell only one of their two homes. If these 2 anecdotes are true, then DWH is in trouble.
  13. Very interesting anecdote...that is a significant reduction.
  14. Hmm, I know some same sex people who live together (but aren't gay and hence not f*cking each other) who decided to get a civil partnership to avoid inheritance tax issues on their residence if one of them should die. Basically, the only people who have to get hit by this are the relatives living with each other who aren't allowed to pretend they are getting it on...typical. Another good reason to do away with inheritance tax.
  15. Could you supply some of those words so I can understand what the picture means?
  16. Sounds like the typical numpty you often meet as the head of one of these organisations...
  17. He will be paying for his impatience for many years to come...really quite sad.
  18. Without some careful defining, this is utter rubbish...crude pseudo economics. Whilst it is true that if people didn't want to buy houses there would be a fall in prices, the converse does not necessarily pertain. Houses cost significant portion of an individual's lifetime earnings. The average person cannot buy a house with cash at the beginning of their adult life and so therefore house prices are intimately related to the availability of credit. For house prices to rise, on average, individuals must spend a higher proportion of their life time earning (unsustainable in the long run...cf Fred Harrison individuals working lifetime etc., historical reversion to the mean of ratio of house prices to earnings), the average persons wage must increase (higher productivity, inflation) or, as has been the case of late, credit must become easier to obtain. Of these possibilities, only the last one can explain what we have seen in the past 10 years. Whilst everyone wants to buy a house, there are other options buffering a restriction in supply (e.g. more people living in one house...which, without other factors, would prevent a 300% increase in house prices). Wage inflation has not been 300% since 1995. Demand is not just about wanting (I and most other males I know want a Ferrari, but I can assure you that our financial circumstances means that we don't count as part of the demand in the economic sense.) For desire to turn into demand, there has to be the ability to pay, and in the case of items of high value, this translates into the availability of credit. in the last 10 years we have seen an increase in the availability of credit, which has turned desires into demand. When that credit dries up, the demand will dry up. (You could of course counter that supply of Ferraris is somewhat elastic and that at some point Ferrari would not be able to keep up with demand...this is true, but if prices rose too much there would be substitution...people would buy Lamborghinis etc....in the same way, in housing there is room for substitution by changing living arrangements.) No one doubts that restriction in supply of land or planning permission etc. affects house prices...what does not make sense is for house prices to triple or quadruple, when there hasn't been a radical change in the balance between the number of houses and the population, WITHOUT some enabling factor. (i.e. increased access to credit) Really, these bull supply/demand arguments as an explanation for what has obviously been a credit bubble are so simplistic it scares me that anyone could believe them.
  19. This is just pathetic. I really hope this guy's manager is laid off at 48. I've often had dealings with software consultancies...and one of the best indications of quality in my experience has been a smattering of sharp alert looking "grey beards", often wearing sandals over socks. When I see an office filled with everyone under the age of 35, I start to worry that they are a chop house. Best developers I have ever hired have all been in their late 40s. They've seen it all, seen all the mistakes and have a huge historical knowledge of technology. Much better than 26 year olds who think Spring is anything other than an effing mess.
  20. Rubbish. I do know what many of them do. I've taught tertiary mathematics to some of them. I nearly became one myself. It is gambling. Very few of the financial wizzes actually increase alpha...(Buffet is an example of someone who increases alpha)...all they do is restructure variance so that things look good whilst they are getting their salary/bonus and leave the mess for someone else. Ambac and Mbia's business models are a perfect example.
  21. No, in much of the world, most people don't retire. But what counts as work is perhaps different too. What is maintaining an large vegetable patch to us in retirement is part of what would be considered necessary work to survive elsewhere. A large part of the world's working time is spent producing useless "soon to be landfill" together with monitoring the efficiency or lack of efficiency of this production and selling it too us. The proportion of time spent working has been steadily increasing since the middle ages. Was speaking to an historian a few weeks ago who was making the point that in the middle ages the average peasant worked much less than people do today. In fact, given that now two people work in each family, since the 70s the amount of time spent at work by the average human in western society has probably doubled. There is no need for people to be working 50 hour weeks and well into their dotage, we have the technology to have an awful amount of leisure time...the economic system we work in prevents it. Your claim about the average age is the 13th strike of the clock. Average life expectancy of British males at birth is 77.2 years at the moment...are you suggesting that most pensioners who curl up their toes don't pass through funeral parlours? Or are you suggesting that we are lied to about life expectancy by f 20 years? Are you suggesting that even a basic survey of the age of my grandparents and my friends grandparents (dead and alive) is out of touch with funeral parlour reality. What utter tosh!
  22. and the great thing is that the guests would have to be polite and listen...aof course you may end up divorced the next day.
  23. I would like to be there to see that. What a great groom's speech that would be...suspect a few of the happy couple's wedding presents might get smashed by ungrateful BTLers in the audience though.
  24. Directly no, indirectly yes. (1) The money you deposit in the bank is used to make loans at multiples of the amount you have deposited with them - hence they earn much more on your capital than they pay you in interest. (2) Every time you use your debit card the vendor is charged a fee...for small transactions this can be a substantial portion of the vendor's margin. This cost eventually has to be passed back to the consumer. Why are you happy being charged twice for transferring ownership of your money to the bank?
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