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Saving For a Space Ship

Central asset bubbles, currency wars are destroying emerging markets

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This article could have been written by any number of posters here: it's quite pithy and doesn't pull its punches on either the dangers of central bank intervention or the ridiculousness of the real estate bubbles.

It's worth bearing in mind that "The Sunday Guardian" is an Indian newspaper, and I can't immediately find data on its circulation, although it seems to be expanding.

When I was in India last year, the newspapers I read also had some very HPC-ish articles. I think the ideas we entertain here are surprisingly mainstream on the sub-continent.

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^

I suspect that Indian news outlets carry news and commentary which is at least on a par with British news outlets in terms of quality of opinion - if not better.

The picture portrayed of that country over decades by the British media for British consumption is likely well out of date in terms of progress - you just need to observe the gadgetry on offer there (smartphones etc)  to see that Britain is behind in that regard.

That's not to say that there aren't still great inequalities in living standards there but in that connection on average they seem to be catching up with the west and especially Britain  very fast.

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The social and economic divisions are astonishing - and with no geographic separation. In any other country, there would be civil war. Also remarkable is the valuelessness of human labour when you have so many poor to call upon - but even when you don't, there can be a whole room of people whose only function is to be on call for some senior personage. That makes it the more remarkable, as you say, that high technology has taken off: it's usually a labour-saving mechanism. The corruption associated with infrastructure projects is also shocking ... I could go on.

However, you are right: the quality of debate and enthusiasm for democracy is something to behold. I think three topics of discussion cut across all social strata, and in some sense draw the country together through debate: philosophy, politics and cricket.

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1 hour ago, billybong said:

^

I suspect that Indian news outlets carry news and commentary which is at least on a par with British news outlets in terms of quality of opinion - if not better.

 

Call it semantic, but news should be all about what just happened on a factual basis. Nothing more.

There should be no room for opinion within accurate fact-based reporting.

But I guess 24 hour news channels have to come up with a lot of BS to cover 24 hours, 365.

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News is anything but fact reporting. IMO. Purest mind control propaganda.

Setting the narrative in your living room every night. Because you can believe the news. "Why would they lie?"

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49 minutes ago, Noallegiance said:

Call it semantic, but news should be all about what just happened on a factual basis. Nothing more.

There should be no room for opinion within accurate fact-based reporting.

But I guess 24 hour news channels have to come up with a lot of BS to cover 24 hours, 365.

There's news and there's opinion and newspapers have offered both.

Indeed news should be factual and unbiased.

Opinion about the news should be honest and absent of VI influence.

Perfection is unlikely ever to be achieved but what is on offer in the UK media is too far off in terms of both bare news as well as opinion.  For example the constant headline focus on house price inceases as good in itself without any accurate or worthwhile opinion on what the crazy house prices do to the real economy.

 

 

Edited by billybong

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2 hours ago, billybong said:

There's news and there's opinion and newspapers have offered both.

Indeed news should be factual and unbiased.

Opinion about the news should be honest and absent of VI influence.

Perfection is unlikely ever to be achieved but what is on offer in the UK media is too far off in terms of both bare news as well as opinion.  For example the constant headline focus on house price inceases as good in itself without any accurate or worthwhile opinion on what the crazy house prices do to the real economy.

 

 

There are very very few opinions without VI. It's why opinions are different from facts.

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1 hour ago, Noallegiance said:

There are very very few opinions without VI. It's why opinions are different from facts.

Indeed but the British media seems to stretch it to the limit especially about the housing market and house prices.

Edited by billybong

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11 hours ago, billybong said:

Indeed but the British media seems to stretch it to the limit especially about the housing market and house prices.

News is stuff that somebody doesn't want you to know. Everything else is public relations.

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15 hours ago, Saving For a Space Ship said:

Courtesy of Frizzers on twitter 

C3W1zxtWIAcTuQC.jpg

Love this. And so true. 

Spread this around, if you can.

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16 hours ago, thewig said:

News is anything but fact reporting. IMO. Purest mind control propaganda.

Setting the narrative in your living room every night. Because you can believe the news. "Why would they lie?"

Thanks goodness we have the BBC, an unbiased news source. 

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1 minute ago, canbuywontbuy said:

Thanks goodness we have the #VileBBC, an unbiased news source. 

To their credit, they managed to report a building collapsing 20 minutes before it happened on 9/11. now that's journalism :ph34r:

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On 1/29/2017 at 6:14 PM, thewig said:

News is anything but fact reporting. IMO. Purest mind control propaganda.

Setting the narrative in your living room every night. Because you can believe the news. "Why would they lie?"

Such a shame we're in the 1970s with just 3 television channels, and a few radio stations...

... oh actually we have ever more news source choices than ever before, including news directly from all other countries, from which many of us can take our bearings, if we choose to. 

Even easy translation services via tech.  

With some events full of complexity, there is no one source who can give the full range of explanations or narrative.   Mistakes are made by some news agencies in complicated shocking events, especially in the aftermath of something serious, when full facts are not known.   For market events, still a whole range of news to take our bearings from.

We also have access to history books, where some events are worth keeping in mind for future.

If only the UK was ruled by the few HPCers who had the 'all-knowing truth' on everything to control all our decisions.

We can all see house prices.   Some of us stand against these prices and BTLers, expecting things to surely change.  And S24 and others a big shock to so many BTLers who went on the double-down.

We all have blind spots... individuals and cultures, and we have to do the best within the reality.  No one knows everything, but everyone can practice basic caution (including not buying up house after house with debt) - as well as being able to see it as societally damaging, if they only bothered to look at it from renters perspective, but all too often with BTL, only their own selfish person in mind.

Also, as free people, we can choose to take our 'news' from many a blog source.   Seems many get their bearings about 'reality' that way, from some far-out blogs they are convinced are the real truth.   Conspiracy everywhere, all the scientists wrong, and only they know the all-knowing truth. 

 

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On 1/29/2017 at 7:06 PM, Saving For a Space Ship said:

Courtesy of Frizzers on twitter 

C3W1zxtWIAcTuQC.jpg

More anti-reality.

You need borrowers to create a loan.   

It's a promise to repay.  Don't make promises to repay, and outbid everyone else in the market for a house(s) if you don't like keeping promises.

And last 8 years has seen massive forbearance to prevent repossession.  

If it does ever turn, then yes, take the spreadsheet HPI+++ chasing buyers houses/BTLers, and sell them on to people who keep promises, at lower prices.

 

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On 1/29/2017 at 5:23 PM, Toast said:

I think three topics of discussion cut across all social strata, and in some sense draw the country together through debate: philosophy, politics and cricket.

I read that at Oxbridge.

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14 hours ago, Venger said:

And last 8 years has seen massive forbearance to prevent repossession the collapse of the banking system 

 

You are completely wrong.  They are protecting the banks, the establishment and themselves.

The little man will be tossed from him home when the time comes.

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52 minutes ago, TheCountOfNowhere said:

You are completely wrong.  They are protecting the banks, the establishment and themselves.

The little man will be tossed from him home when the time comes.

Give me a few examples of this so called little-man?

How much is his house worth now?

How much equity.

When did he buy it?

It's a market out there.  If he can't keep up repayments - and we've had years of low-rates (I remember 2008 4-5% base rate and all the other hpcers having a breakdown about innocent owners back then), then he should position to sell it.   

The narrative about the banks is just make-belief fantasy.   It's a market.

The forum is become ever more fringe deluded conspiracy darkness.

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1 hour ago, Venger said:

Give me a few examples of this so called little-man?

How much is his house worth now?

How much equity.

When did he buy it?

It's a market out there.  If he can't keep up repayments - and we've had years of low-rates (I remember 2008 4-5% base rate and all the other hpcers having a breakdown about innocent owners back then), then he should position to sell it.   

The narrative about the banks is just make-belief fantasy.   It's a market.

The forum is become ever more fringe deluded conspiracy darkness.

The little man is all of us.  

The bankers/politicians wont who when push comes to shove.

These men send young men out to die in the cause of "freedom".

Maybe the little man will not be the debtors but they will just confiscate peoples savings/gold, anything to keep the ponzi going.

Maybe the little man will be the poor buggers who made bad choices and bought an over priced house they can't afford

Maybe the little man will be the tax payers, you and I, forced to pay EVEN more for the bankers utopia.

Maybe the little man will be the Buy To Let-ers.  lets hope so for they are the gamblers and deserve to loose big.

When did they buy ?  When is irrelevant.  How much skin they have in the game  Maybe it'll be the poor buggers who have done equity realize after 50 years of working/saving to buy a house and pension.

Sure it's a market which is being kept going by money printing from the BoE, nothing more.

The bankers and the "investors" are the market. 

One thing is for sure....IMHO...The bankers wont be loosing.

Edited by TheCountOfNowhere

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28 minutes ago, TheCountOfNowhere said:

The little man is all of us.  

I don't have any debt....

I rent.

Your innocents on owning and BTL side have range of different positions.  

Own choices.  It's a market out there, with millions of people who own extreme valued houses outright.  Mega wealthy HPI mad-gainz.   BTLers who have doubled down.

It's ACE mad-happy times out there for millions of people.

Is it any wonder news/reporting/power statements are often tipped to this reality.

You can't see anything other than banks at fault.  Bankers are just other people, like you and me - not aliens.

What's the point though?   You want to believe in bankers being the one-and-only big-bad.   It's a big crazy to me, and sad.  Dragging us down into the darkness.

On 9/21/2015 at 1:38 PM, BuyToLeech said:

The idea that older people don't see their homes as investments is a ridiculous self-serving platitude.

If that were true, the age demographics of landlords wouldn't be what they are, the daily mail wouldn't print the house price of every serial killer and murder victim, and house prices probably wouldn't be an issue.

Very few people can afford to ignore the value of their home, whatever their age, it's a key factor in everyone's decisions about housing.

I'll repeat my earlier point, in the hope that reading comprehension wasn't just a passing fad from my youth.

We live in a market economy, of sorts. The selling point of a market economy is that selfish decisions should lead to an optimal allocation of resources.

The distribution of housing is not optimal. Why?

These are your little people aren't they.... :)

Quote

Daily Mail

Average UK house price to hit £780,000 by 2040, says leading think tank

Kilo Charlie, My World, 9 hours ago
We purchased a property in 1983 for £72,000.........today it's worth £650,000 plus. It's certainly possible and quite likely.

Sam, Bucks, 3 hours ago
Bought house in ,74 for 16k added extention about £8k now valued at £480k you do the maths?

 

 

 

 

 

BuyToLeech, on 19 Sept 2015 - 07:47 AM, said:snapback.png

A lot of bankers did benefit, it's just that plenty of other people also benefited and benefited more in many cases.

There are plenty of people who have made more through the housing bubble than they have ever earned in their lives. For landlords and London homeowners or anyone with an inheritance the amounts are similar to lottery wins - hundreds of thousands or millions - largely untaxed.

Those people wanted the banks to inflate the bubble, and they wanted the bailout. They may even be the reason there was a bailout, but none ever holds them responsible.

People love to blame banks for what happened, but millions of people were complicit. Most obviously the banks didn't get any criticism when the damage was actually happening. They only get blamed for stopping it.

Even now the British middle aged middle classes are clamouring to go back to the days when the crisis was still looming, so they can play at being property developers.

 

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On 30/01/2017 at 10:31 AM, thewig said:

To their credit, they managed to report a building collapsing 20 minutes before it happened on 9/11. now that's journalism :ph34r:

Have always wondered where the 911 thread was on this forum - we've got our tin-foil hats, we know where the dark corners are, aren't we set to go? I say no more.  

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