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Giordano Bruno

Author Hanif Kureishi Loses Life Savings To Suspected Fraud

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It seems this can happen to anybody.

It's more likely to happen to a person chasing higher yields, not satisfied with lower returns on saving deposits. Interest rates are low because there is a lot of risk out there, yield-chasers.

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It's more likely to happen to a person chasing higher yields, not satisfied with lower returns on saving deposits. Interest rates are low because there is a lot of risk out there, yield-chasers.

I agree with your first sentence. But I think IR are low because the gov't wants to prop up house prices, and for people to spend and to get into debt to do so.

The low IR makes people more vulnerable to risky investments and to frauds like this one.

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Why do all articles like this insist on saying that the victim has lost their 'life savings'. While a large sum of money, Hanif Kureishi clearly has more than £120k to his name.

Well actually... He may well not!

I know a very famous [lady] author who is - no one would believe it - skint.

Book sales & the margins that even successful authors used to get back in the '70's & '80's are a thing of the past --

& - Advances made to even famous & successful authors are a FRACTION of what they used to be....

I know this from speaking to this lady - who shall remain [resolutely!] anonymous.

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Well actually... He may well not!

I know a very famous [lady] author who is - no one would believe it - skint.

Book sales & the margins that even successful authors used to get back in the '70's & '80's are a thing of the past --

& - Advances made to even famous & successful authors are a FRACTION of what they used to be....

I know this from speaking to this lady - who shall remain [resolutely!] anonymous.

I believe you are right, Eric. I have read as much in a book about the pros and cons of ebook self-publishing versus traditional publishing.

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I agree with your first sentence. But I think IR are low because the gov't wants to prop up house prices, and for people to spend and to get into debt to do so.

The low IR makes people more vulnerable to risky investments and to frauds like this one.

That all sounds like a lot of risk out there to me !

Vulnerable because they're looking for higher returns.

Maybe some of these 'vulnerable' investors who had no choice to invest in higher risk ventures, will have to sell their homes at lower prices, after not being satisfied with low rates on deposits and making huge investment losses. That would... well that would help make housing more affordable for us non-owning patient low-risk savers.

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Well actually... He may well not!

I know a very famous [lady] author who is - no one would believe it - skint.

Book sales & the margins that even successful authors used to get back in the '70's & '80's are a thing of the past --

& - Advances made to even famous & successful authors are a FRACTION of what they used to be....

I know this from speaking to this lady - who shall remain [resolutely!] anonymous.

True. Most authors, even quite well-known ones, are not paid anything like what many people imagine.

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Guest eight

True. Most authors, even quite well-known ones, are not paid anything like what many people imagine.

Not to mention which, I loved the TV series of the Buddha of Suburbia, but that was twenty years ago!

Could be worse for him I suppose. He could be Salman Rushdie.

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It's more likely to happen to a person chasing higher yields, not satisfied with lower returns on saving deposits. Interest rates are low because there is a lot of risk out there, yield-chasers.

If it looks too be to good to be believable it is not believable!

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Guess he didn't read the small print

If he had, he could have saved himself a fortune:

All characters appearing in this work are fictitious. Any resemblance to real persons, living or dead, is purely coincidental.

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Well actually... He may well not!

I know a very famous [lady] author who is - no one would believe it - skint.

Book sales & the margins that even successful authors used to get back in the '70's & '80's are a thing of the past --

& - Advances made to even famous & successful authors are a FRACTION of what they used to be....

I know this from speaking to this lady - who shall remain [resolutely!] anonymous.

She might want to look at self publishing on Amazon- I got my butt kicked on this very forum for claiming that no one was making money this way and I was wrong- some people at least do make good money and I understand that Amazon's rates to authors are better than those paid by publishers- despite their low prices.

And if she is as famous as you suggest she has built in audience- so it might well be worth a look.

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Well actually... He may well not!

I know a very famous [lady] author who is - no one would believe it - skint.

Book sales & the margins that even successful authors used to get back in the '70's & '80's are a thing of the past --

& - Advances made to even famous & successful authors are a FRACTION of what they used to be....

I know this from speaking to this lady - who shall remain [resolutely!] anonymous.

I'll second that, it's surprising just how successful you have to be as an author or musician before you get to be seriously loaded. Melody Maker used to do a series of 'where are they now' articles where they tracked down people who used to be in really quite well known bands and it was amazing how many of them ended up in normal careers afterwards.

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True. Most authors, even quite well-known ones, are not paid anything like what many people imagine.

I guess its why all the authors whose properties are paraded in the sunday times homes section are typically elderly. Showcasing a 30 something author who is living on housing benefit in a bedsit in Bermondsey doesnt have the same appeal.

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I'll second that, it's surprising just how successful you have to be as an author or musician before you get to be seriously loaded. Melody Maker used to do a series of 'where are they now' articles where they tracked down people who used to be in really quite well known bands and it was amazing how many of them ended up in normal careers afterwards.

I think that I read somewhere that there are only about 100 authors in the UK who make a decent living from their books.

The odds are stacked against you - 10,000 copies is a good sale for an author which would probably generate royalties of less than £10,000. Not much of an income.

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I think that I read somewhere that there are only about 100 authors in the UK who make a decent living from their books.

The odds are stacked against you - 10,000 copies is a good sale for an author which would probably generate royalties of less than £10,000. Not much of an income.

There are plenty of people who will give their writings/opinions for free just as interesting just as justified....plenty that give their time and intellect for free....some people require money for everything.....globalisation is not the only cheap competition, free info infonet can offer more for the many that have far too many over priced other things to pay for. ;)

Edited by winkie

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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