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Posts posted by @contradevian

  1. On 12/10/2017 at 6:16 PM, GreenDevil said:

    I disagree. 

    Locking in 38 years, at 1200 a month, at 0.25% rates.

    What else do you have to do to be more foolish? 

    That's as stupids as it gets.

    Mortgage payments are £450/550 per month?
    I assumed the £1200 a month was total committments
    Most average rents in UK towns can be £600-800 a month. Even here in no hope Huddersfield you can pay that

  2. 7 hours ago, Venger said:


    I do not know.  Seems like an assumption to me.  Don't have the data.   I treat people as individuals.   

    Comfortable soft grey velvety seats and big centre arm-rest?  Maybe a black cover to go over radio, or the radio hidden away slightly, between the seats?  I'm having a wobble for his username on HPC, and maybe he would prefer me not to say it anyway, but I've talked old Citroen with Trader Paul on a couple of occasions on Twitter and have often favourited his classic Citroen pic posts.  He may remember me showing him pics of 3 old Citroen posters I had in my possession.  If he's reading this maybe he could step in and back me up.  There are many classic Citroen cars.

     https://twitter.com/search?l=&q=citroen from%3ATraderPaulFX&src=typd&lang=en

    I am pleased you enjoy a full range of cars and have James May style enthusiasm.  (I'm no car fan at all tbh, but I like seeing others passionate about such things).

    How do you know they were sneering?  Maybe they were admiring?  How can you be so certain by just a passing look?  

    There are individuals of all type.  There are rich people with expensive cars.  There are people who want to project riches with expensive cars on finance.  There are rich people driving old cars.  There are rich people who have old runabout car.   There are normal people with all sorts of cars from financed £25K+ cars, to lower end models.  There are people who run older cars.   There are many individuals who finance Aston Martins etc, who meet the repayments and don't have them repossessed.  Although it absolutely should be the case that action is taken against those who don't meet their contractual agreements.   However they are all individuals.  

    No finance.  There was a personal loan on the Merc but it is all paid off, and it doesn't belong to me but I have a lot of access to it and contributed to the purchase of it.  Don't pay any of the running costs other than fuel.

    Anyway another assumption.   

    It's the dunderheaded insistence of classing other people as 'not knowing what they are doing' that gets my goat.  

    Along with projecting that car finance is the 'preying' on victims who 'see no other option' for acquiring a car!

    Freewill for people to pay whatever they want to pay/qualify for mortgage of, provided they are on the hook for their own decisions.  I'm positioned against future HPI+ in the future, and hope for HPC, in a market that has until recently, been saturated by BTLers and unregulated lending.  Maybe they will have to sell one of the houses they've laid claim to when market turns.

    Been on HPC a long time, including all the many years rates have been floored + £QE Galore for those who overborrowed 2003-2007 and where other HPCers came out calling 'victims of media/ didn't know what they were doing' from 2008 onwards.  Now banks are better capitalised....


    Indeed! Love my old Citroens and Rovers. Currently looking for a Rover 75

  3. We're living in the 'long run' that Keynes didn't care about, because he'd be dead. This depression is a consequence of governments following Keynesian policies for decades, without caring about the long-term consequences.

    And, just to make things worse, it's happening at the same time that technology is wiping out the centralized industrial economy that made Keynesian policies possible in the first place.

    What utter twaddle

  4. Yes. Lots of closed ranks today. The fightback has begun. Tax return details published...honest Dave completely transparent. But what is his balance sheet, what income does not appear on the tax form? The family arrangements for inheritance of assets - what is the actual process he's working through - clearly the £30,000 benefit is related to ensuring they remain under the threshold for taxes....what about the rest? Taxes on incomes is what the rich want....we need taxes on assets.

    "Dave has done nothing illegal, just hasn't handled it well". Of course it's not illegal, that's not the point - he's following the rules the rich have put in place down the years. Trouble is 'honest Dave' forgot to declare it. Secondly 'honest Dave' personally intervened with Van Rompuy to carve out a loophole for offshore trusts for avoiding tax. Where has that gone in the news today?

    It's like watching a one sided argument unwind across the media where Dave is completely exonerated and a little note saying must do better in the future silly boy. Only pathetic dissenters allowed on to attack missing out important pieces of the picture as above.

    And this is just Panama. There are other tax havens.

    Channel 4 News also uncovered further funds bearing the name PMG Eagle in the tax havens of the Cayman Islands and the Bahamas, however the secretive jurisdictions meant the ownership was not immediately available.

    Yes we are distracted from the £90K a year he gets in rent (which is more than an MP's basic salary).

    Also he paid his tax's on dividends from Blairmore knowing full well these funds are setup for very low taxed, if taxed at all capital gains.

    However, a directors’ report by PMG Eagle Fund Limited in Jersey in 1999 said the fund was designed for "long term capital appreciation" and told investors: "The Fund expects that capital appreciation will come almost entirely from increases in the value of the portfolio companies, and investors should not expect any significant benefit from dividends and interest."


  5. He's also a board member of AMI (Association of Mortgage Intermediaries).

    From their web site.

    Promoting and progressing ideas like Help to Buy etc?

    His lobbying role as AMI board member won't have been mentioned by the BBC News. Indeed it'll be "leading tax expert".

    So in the role as lobbyist one imagines that he's pretty much bound to close ranks in support of any incumbent government and Prime Minister - as part of their own interest in lobbying for their own interests.

    No longer it seems


  6. For small to medium farms the correct verb is subsidising, not Farming. They are joke orgs.

    Wevesmall hill farmers. They be better off growing poinreapples than farming sheep. It would be cheaper too.

    Smal sdcale farming is just a vast make-work scheme for EU sub.

    Well said!

    Agricultural version of the cup cakes business, with farm subsidies (rentier tax credits) thrown in for good measure

    make them report to the Jobcentre every few weeks

    I've no doubt many want to buy land. Borrow cheaply, get the State to run infrastructure to it, which is promptly captured as untaxed private wealth.

    Once again homebuyers and tax payers as the mugs

  7. Partly true but excludes rise in living standards for Chinese (for example).

    Also ignores counter factual - what would have happened if China was excluded from global economy. War?

    But one does have to question who UK (& other) governments work for. Apart from global super rich.

    Agree with a lot you say, but can't see sharing the pool of diminishing spoils with home owners, being politically acceptable for much longer.

    Then again I have been wrong before (last 10 years it seems!)

  8. If the tenant doesn't like the fee, go to an agent where s/he does.

    They all charge the same amounts. Once again the market doesn't provide a choice or competition.

    The rentier can pay £60 to photocopy an AST if he wants to and even more for credit referencing which everyone else except a letting agent, can get done for a few quid

    The only real choice you have is to avoid Letting Agents like a plague and look on Gumtree

  9. Yep, looking at it I wonder if it is just a plot to get rid of Putin. Seems to be lots of has-beens or dead in the West. The odd footie player celeb thrown in. Some dead arabs. But mainly Putin.

    If this is just one law firm though imagine what is going on with other law firms based in places like Panama and the Caribbean

    Jackie Chan!

  10. If the vile BBC and Sky are running with this 'expose' for the masses something far bigger is obviously happening in the background.

    Smart money is more revelations of institutional paedophile rings within the vile BEEB. Mainstream media is all bought and paid for by the same few satanic freemasons etc.

    My initial suspicions were 'false flag' as everyone led with Putin and his cronies. Now I'm not so sure the British establishment are getting dragged into it?

    But so what? Nothing will change, X-Factor back on soon

  11. 923 rental properties in my area of West Yorkshire but I've nothing to compare it with, as I've not looked for a while.

    Seems a lot to me also flooded with student properties. I'm hoping the new Unite etc student blocks are burning some fingers. If you live in a University town this might be a factor.

    You can rent studio's or one bed's for not a lot more than 'social rent' levels

  12. The relationships between councils and the PRS hopefully will improve but it will stifle entrepreneurship. Long leases and guaranteed rents and ROI will be introduced for a hassle free investment. Many BTL`ers will be attracted to this new style investment. A lower rate of return but a solid secure return just like a building society but BTL will still be much better. You may have an opt in / opt out golden handshake lump sum arrangement which they take out of the capital growth when you sell on in 20 years to another scheme member

    Those little captain of industry!

  13. I've said this before. There has been a ton of new student accommodation built in my town. Shared wifi, communal kitchens, cleaning. serviced rooms with a shower and so.

    Its temptingly attractive. Indeed you can rent a room during holiday times

    Back in the 60's had a dotty Aunt who was tone deaf. Had nothing but a tiny bedsit overlooking Huddersfield railway station. Washing facilities IIRC nothing more than a gas hot water geyser over a deep sink, and a curtain across.

    Researching family history my 'great grandparents' were almost certainly sharing a house with other families when married around early 1900's Yeadon, Leeds.

    Not saying I agree with it, but these times are probably coming back. To some extent space and living standards were set briefly post war with mass social housing building and now that is being swept aside and sold off, the slumlord attitude is coming back.

  14. Fred agree's


    Fred Harrison: A British recession will happen in 2019

    Britain is on course for a recession in 2019, a year before the general election. The crash will not happen before then because politicians and central bankers will appear not to lose their nerves.

    The QE (quantitative easing) solution to the 2008 crash has rendered monetary policy useless as a fine-tuning instrument. Policymakers failed to adopt fiscal reforms that could have rescued the UK, so politicians have no tools to guide Britain out of the current turbulence.

    Worldwide, central bankers will talk up any good news, hoping to persuade consumers to spend, even as wages continue to be battered. In the US the Fed will not take any chances in the run-up to November’s presidential election. Oil producers will finally do a deal to drive up petrol prices, which will be sold as a step towards normality. Debts will continue to grow, until a peak in house prices in 2019. Then the game will be up.

    Fred Harrison is an economics commentator and author of Boom Bust

  15. Remember, in 1978 State owned British Steel LOST £545million, had £5bn debts written off (by taxpayers) and the f'g Unions went on strike for 20% rise.

    Bear in mind nationalisation really just bails out the existing owners. A bit like houses!

    Arguably Labour paid too much to owners of Stewart & Lloyds etc when they nationalised. They were more or less bankrupt and the socialists paid above fair value. Should have let them collapse, then stepped in.

    I'm probably one of the few people on HPC, to have actually worked in a steel plant! (Basic Oxygen steel making plant in Corby during late 70's) State invested heavily in new Basic Oxygen steelmaking but while I was there only saw one vessel working.

    I actually don't think capitalism works any more. State seems to be need to offer guarantee's to get any investment going, subsidise and so on. Of course once the State has put up the cash, the rentiers pour in to buy it at discount, and extract profits as rent (probably what Tata were doing). Other industries such as chemicals are pharma are similar, with the rent extractors feasting over the carcusses of dying industries.

    Replacement jobs of course, are deeply insecure jobs which require absolutely no capital whatsover. (Car wash, nail bars, shelf stacking etc). Proper capital is for land inflation and speculation only!

    If we stick with this capitalist death cult, we are faced with a miserable future.

  16. There are 4,000 people employed at Port Talbot but at least another 8,000 direct contractors and about 2,000 indirect ones. Mostly well paying jobs.

    This does not include all the cafes, pubs, shops in the area that rely on money from the workers.

    An underlying problem which the media are missing is that economic conditions are not the only issue - under-investment over many decades is also a problem. In the rollshops they are using machines from the 1950's/60's. Compare this with China which has recently close much newer steel plants. So whoever buys or takes over port Talbot will need to invest - a lot.

    One curious thing is why the Mittal family, who are British Indian and based in the UK, never invest in UK steel plants. They have basically bought up every clapped out plant from France to Kazakhstan and turned most of them around in some shape or form. They also have a cap value of £25 billion.

    The options appear to be:

    1. Sell the entire business as - is. Either to management buyout (supported by govt.); the govt nationalise it in some form (but they can't under EU rules! How embarrassing for Cameron); or to a third party like Arcelor Mittal who would re-structure and gamble on an upturn in the market.

    2. Close the heavy end (steel making) but leave the rolling mills open in some shape or form. Probably still some profit to be made from that.

    If heavy end closes the land would need to be reclaimed - like happend at Llanwern where it is now a housing estate!

    If it all closes then the view from Aberavon beach will be much improved and the buy to let boys will move in on Aberavon ..lol

    Hope everone is aware that a free land policy would help manufacturers, and deliver an instant tax cut were a plant forced to close.

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