Bob8 Posted May 12, 2023 Share Posted May 12, 2023 6 hours ago, Unmoderated said: Yup. I've posted elsewhere a little soapbox rant that the worst thing about this is those who were protected at enormous cost to the nation (taxpayers) are totally shielded from paying the cost. The irony is that if we had let it rip we'd have lost a little of the deadweight around the neck of the nation. It wouldn't have been pretty (cue the shouts of 'Tories killed my granny etc') but the savings in NHS, pensions and all the other benefits, not to mention the freeing up of housing would have ushered in a period of prosperity. We'd still have some inflation since that's imported but we'd likely have a far stronger pound since we'd not have debased Sterling by half a trillion quid which would have helped with that AND those who actually pay to keep the country running (net contributors) wouldn't be getting increasingly screwed over. Sorry - another rant. Summary - I agree with you for lots of reasons. There are already plenty of threads for what are apparently grown ups who were not there at the time back in 2020. Please, keep it there. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted May 12, 2023 Share Posted May 12, 2023 9 hours ago, Bob8 said: There are already plenty of threads for what are apparently grown ups who were not there at the time back in 2020. Please, keep it there. Seems like you're having a pop? I am 40 btw. Where should I have been in 2020 lol? Imho my post is right on the money and it's relevant here. It's made it EVEN more difficult for youngers. Quote Link to comment Share on other sites More sharing options...
Bob8 Posted May 12, 2023 Share Posted May 12, 2023 46 minutes ago, Unmoderated said: Seems like you're having a pop? I am 40 btw. Where should I have been in 2020 lol? Imho my post is right on the money and it's relevant here. It's made it EVEN more difficult for youngers. FFS, you are not usually retarded. This debate is taking up far too many threads. Go off to them. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted May 13, 2023 Share Posted May 13, 2023 16 hours ago, Bob8 said: FFS, you are not usually retarded. This debate is taking up far too many threads. Go off to them. I'll that as a compliment lol Fine, take the Covid BS out of it. Simply look at the debt and how that's got to be serviced. That's really my point. Point taken Covid swallows up too much on here - that wasn't my intention. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted May 13, 2023 Share Posted May 13, 2023 (edited) 3 hours ago, Unmoderated said: I'll that as a compliment lol Fine, take the Covid BS out of it. Simply look at the debt and how that's got to be serviced. That's really my point. Point taken Covid swallows up too much on here - that wasn't my intention. And the total debt repaid also rises exponetially. A £500,000 mortgage at 1% over 35 years will see you repaying £600,000 - so only £100k in interest A £500,000 mortgage at 5.5% over 35 years will see you repaying over £1.1 million. So £600k in interest. So that £500k home will now cost you £500,000 more to ultimately buy than at rates from two years ago. That is a real cost. I know people only look at the monthly payment and rates will of course go down and up over that time /- but that is quite sobering! Edited May 13, 2023 by MARTINX9 Quote Link to comment Share on other sites More sharing options...
Bob8 Posted May 13, 2023 Share Posted May 13, 2023 8 hours ago, Unmoderated said: I'll that as a compliment lol Fine, take the Covid BS out of it. Simply look at the debt and how that's got to be serviced. That's really my point. Point taken Covid swallows up too much on here - that wasn't my intention. Sorry for my rudeness. Please, take it as a compliment! Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted May 14, 2023 Share Posted May 14, 2023 Unable to afford a home? The answer from another thread is "Tough, find a different job" I suppose one way of doing this is to become an agent (I know...) Instead of earning £150 a day in your field, act as an agent/supervisor and take the 20% commission per employee. Oversee 7-10 employees and straight away you're earning a lot more dosh. Or become the dreaded estate agent and earn the big money via commission on each sale... Of course not all of us could be an agent, nor want to be one... Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted May 14, 2023 Share Posted May 14, 2023 20 hours ago, Bob8 said: Sorry for my rudeness. Please, take it as a compliment! 🍻 Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted May 14, 2023 Share Posted May 14, 2023 It is always wise to get up and leave for a more favourable place in a capitalist society whenever it gets to a stage where your labour cannot sustain you. This has been happening in London and other places and it will most likely get even worse. Many Londoners have moved up north in the past few years for a better life as the money gets you more value than in the capital. You just have to accept the reality and move on. There will be still some places where he can go and sell his labour and afford to rent or buy a property. If he does not wish to do this then he must accept the conditions of where he currently is and deal with it. London is disgusting and if the political degeneracy continues it will collapse. Quote Link to comment Share on other sites More sharing options...
Insane Posted May 14, 2023 Share Posted May 14, 2023 10 minutes ago, The Angry Capitalist said: London is disgusting and if the political degeneracy continues it will collapse. What do you actually mean by that? In what way will it collapse? What will happen? Will all the companies , government departments and people go under? Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted May 15, 2023 Share Posted May 15, 2023 3 hours ago, Insane said: What do you actually mean by that? In what way will it collapse? What will happen? Will all the companies , government departments and people go under? If people cannot afford to rent a basic apartment or house in the area where they work based on their price of labour then they inevitably leave. London has already seen an exodus of people over the last few years. It's a trickle at the moment but will gather momentum if the issues are not resolved and quickly. Therefore, if people on low wages such as hairdressers, waiters, supermarket staff, care workers and many others who cannot afford to live in London then the more wealthy people who have stayed will struggle to find a hairdresser or a plumber etc. The early signs of this problem will start appearing when you start seeing restaurants, pubs and hairdressers closing down not only due to not finding staff (or willing to pay what it takes for those staff to live in the area) but also because there are less people living in the area consuming which will result in low competition. The next stage is long waiting times trying to book an appointment and the remaining restaurants being full struggling to get a table etc. The stage after that is very high prices to pay the wages of the staff who will have to live in London to work or near London. You will see major problems with companies struggling to get staff as the labour pool has decreased. It will result in the local economy becoming very inefficient (and politicians panicking which will be popcorn time). These are all consequences of easy cheap money which has distorted the labour market where people who "own" assets such as housing or stocks have benefited from. The longer it takes for the price of money (interest rates) to be set by the free market and for the government to stop intervening in markets and deficit spending the worse it will get and the longer it will take to reverse the consequences (and the more higher interest rates will have to go) I wouldn't want to live or own a business in London in this current market. Quote Link to comment Share on other sites More sharing options...
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