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redwing

Trust Me I'm An Economist. Bbc2 8/9/06 1900

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Did anyone else see this?

Tim Harford was looking at the future: investments, economic predictions etc.

He interviewed a fund manager who correctly called the dot.com crash, took all his customers investments out of the market and was then vilified by colleague and the press. Many of his customers left.

The fund manager's point was that most economic forecasters find it easier to 'follow the herd' than stick their necks on the line and back what they really believe. He then went on to say that it is exactly the same with current property prices; that they're overvalued.

The presenter (our man Tim) could only concur and repeat to camera that the property bubble exists.

Good to see some sense of reality returning in BBC programmes.

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Darn it. Anyone record it?

If I was reading the forum before 7:30, I would have hit that record button and have an uploaded for all to download...

Anyone record it?

Anyone record it?

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I saw some programme about how Brown has virtually ruined private pensions tonight? Was this the same programme? It was truly excellent, it said that the government give 85p for every £3 a lower rate tax payer pays into a pension, but for higher rate tax payers the government gives £2 for every £3. Another marvellous rich get richer policy.

Edited by simon99

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There was some stuff about pensions but the bit I caught was more about the surprising number of people who do not take free money when offered:

1. Your employer offers to match your pension contribution with their own. (employer gives you money for saving)

2. Not getting your tax back from the Government on pension contributions.

3. Not using as much tax free savings as possible.

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Did anyone else see this?

Tim Harford was looking at the future: investments, economic predictions etc.

Yep, I seen the programme... didn't record it though

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The fund manager's point was that most economic forecasters find it easier to 'follow the herd' than stick their necks on the line and back what they really believe.

Never a truer word said, well at least not recently.

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Yep I saw it, quite good I thought.

I saw some programme about how Brown has virtually ruined private pensions tonight? Was this the same programme? It was truly excellent, it said that the government give 85p for every £3 a lower rate tax payer pays into a pension, but for higher rate tax payers the government gives £2 for every £3. Another marvellous rich get richer policy.

The government don't give you anything, you just don't pay tax on any pension contributions up to 15% of income. It stands to reason that higher rate tax payers who pay 40% tax get more for their pension contributions because they pay more tax, I'm sure all of them would happily give up that benefit for a 20% tax rate across the board.

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The government don't give you anything, you just don't pay tax on any pension contributions up to 15% of income.

Huh??? :blink:

Basic rate taxpayers get 22% relief and higher rates get 40%.

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The government don't give you anything, you just don't pay tax on any pension contributions up to 15% of income.

Indeed, but the example cited in the programme was matched contributions from employers, which is free money, yet people still don't contribute to a scheme and therefore throw away cash.

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If you watched Tim Harford the economist on Friday evening on his television programme he placed a £50 note on the pavement in London and watched people file over it. This note remained unclaimed and so he picked it up and popped it in his pocket. He also interviewed an expert on bubbles who stated the property market was overvalued.

I spoke to a BTl landlord the other day and he said if second properties were more heavily taxed it would sort out the good landlords from the poor quality landlords. I am in agreement with this sentiment. This may also help take some of the hot air out of the bubble. There will always be more affluent landlords such as the one I spoke to who will always be willing to pay the extra but it may help stop some of the less financially astute jumping on a property bandwagon which has already left the station.

This was my comment on another thread

I thought the programme was interesting but if you missed it then don't worry as the only part that related to property was discussed by Redwing above.

The main thread was don't listen to one person listen to a crowd and he went through a number of experiments to see if efficient markets worked such as gambling on a favourite (he was not lucky).

This series has been interesting though, a light heared view of economics.

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  • 301 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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