Economy Down the Drain
What with the economy going down the drain what does is mean for us??
I was thinking about selling some of my Spectrum stuff off on ebay, but now I dont think it will fetch as much.
Not only because it is the summer months and people arn't spending as much time on a computer, but because people are tightening their purse strings.
A 3.7% inflation say the Bank of England. Anyone feeling the pinch yet??
I was thinking about selling some of my Spectrum stuff off on ebay, but now I dont think it will fetch as much.
Not only because it is the summer months and people arn't spending as much time on a computer, but because people are tightening their purse strings.
A 3.7% inflation say the Bank of England. Anyone feeling the pinch yet??
Post edited by Scottie_uk on
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I was wondering what that was! I'm skipping the chiropractor and instead will be consulting with an accountant.
;-)
some lucky girls at work will feel my pinch when i get there tomorrow, he he he.
You're really getting out of hand..you need a good chibbin'
Yes every day. The price of eggs, rice, cereal, pasta, bread. The last time this happened where I live was in the 1800s when people broke open the bags of grain and distributed at the old price leaving the money for the vendors. (Although it was not their fault). The fields are now unusually yellow with oil seed rape - for biofuel not wheat for the hungry. That inflation figure is based on i-Pods and other techno luxuries which always drop in price when their development costs have been recouped.
But this is a global group and these things must be happening in all countries.
It's what happens when the world runs out of oil. People starve.
</rant>
They are/were a supplier to Northern Rock. Northern Rock lied to OneNorthEast a government agency saying that none of it's subcontractors would be affected so there is no government aid and no press coverage.
My client has already made 25 redundancies and the remaining 20 staff are on notice.
The final bit of unluck for them is that they bank with RBS and the bank being t**ts has just pulled the rug out.
I'm gonna lose out on many thousands per annum.
So yes, feeling the pinch.
So no, won't be voting for Labour the incompetants.
So yes, can fully understand why the ex-chairman of NR with his ?750K payoff needs a police guard.
The two owners have just had 15 years of work flushed away with no way of stopping it.
I run a business selling and repairing garden machinery, so people being made redundant on a large scale will affect my business. On the other side of the coin a lot of my cutomers are retired with cash in the bank so that will remain stable. When times are hard people tend to spend what money they have on the home and garden, improving its value for another day. So all in all Im hoping to weather the storm. And if my competitors go down the toilet, well, I wont lose any sleep over that.
Frightning though innit. I remember the last recession under the Tories, and they made it worse by washing their hands of the poor. Thats something Labour will not do, and thats why I stick with them. Being lorded over by a bunch of braying un-worldly Eton boys sends shivers up my spine.
So labour werent screwing with the poor when they did the whole 10p tax thing ? They were alienating their core voters.
I've never been one way or the other but after a great start by Labour the countries a total mess. I want someone else in charge, ex-eton boy or what. He could be a 7 foot trannie as long as he has decent policies and could possibly make a good change.
Our countries in a mess, Gordon Brown is a joke so you should stop being so biased towards Labour and accept theyre doing a god awful job at the moment. I'm not a tory boy but like millions of others we just want a change as whats currently happening isnt good. I know many former Labour voters who were totally anti-Tory (the usual stereotypical eton boy thing) but now are the complete opposite.
BTW Fudgepacker - totally with you about the whole eton boy's thing ... I'd vote for just about ANYONE but them.
I just hear the opposite, despite the tories image as eton-boys etc it just says a huge amount when so many people voted for the tories in the local elections just gone.
I dont like the conservatives much but its got to a state where Labour are just messing up big time. Things arent good. I think some people have to forget this stereotypical view of tories and look at the bigger picture. Cameron and co can eat caviar at Eton every weekend if they want as long as they do a better job in power than Brown.
We have a first past the post system split in constituencies so people end up tactically voting rather than voting for whose policies they believe in.
It should be vote for the Tories because they're good - NOT vote for the Tories 'cos Labour are crap and we want to stop them getting in.
I think if we had a fair system where (just to grab an example off the top of my head!) the party that got 25% of the vote actually gets 25% of the seats in parliament things would be a lot different. It's not surprising vast numbers of people feel under-represented by modern politics - the majority of people who (let's face it!) didn't vote labour at the last election essentially have no voice as far as I'm concerned.
I remember living in Wales and working out how many people I in theory had representing me at local government level, Welsh assembly, parliament and in Europe - And I didn't vote for any of them!!!
- you bought it not to live in, but to speculate on
- you bought it when you couldn't actually afford it (that includes having nothing left over for contingency, even if technically you can make the payments just fine)
- you bought it without the intention of living in it for long.
If you bought your house to live in and intend to stay there for a couple of decades, and have some contingency set aside, short term movements of house prices are pretty much irrelevant. Increasing house prices do not create wealth, incidentally, and it's silly to start spending or getting equity loans because your house went up in value. Don't forget when you move you're going to have to buy a house that has gone up just as much - unless you're leaving the country or downsizing.
It's a good time to be a landlord, though. Lots of people wanting to rent.
His argument was that if you plan to live in it you are not going to see the money from it - since it's your home and without it you have nowhere to live.
When you sell it - the amount you get is proportional to what you payed for it based on the house market at the time. You can still broadly afford the same house with the money you would get back in ten years time whether the market goes up or down - like trading a pint of milk from 1985 for a pint of milk in 2007 (the money is different but the milk is the same - umm hopefully fresher).
Overtime your house actually costs you money - and the larger your house the more it will cost you in other bills to live there. He said that if you have a large house you need to have other real assets in place to pay for it.
Therefore your house is not an asset it is a liability. (So by seeing our own homes as an investment we've been getting it wrong all these years).
Great point, i think many people are thinking that way. But then it just shows you how much people are fed up with labour when many long time labour voters are going to the tories, and other people who simply want the tories in (probably dont know half their policies) because theyre so sick and tired of labour.
Many people i know voted for labour solely because of Tony Blair and felt letdown when he then stepped down and Gordon Brown came in. Of course people should vote for the 'party' and its policies but you know so many people sadly vote for the actual character - eg Blair and might not have voted if Brown was standing in the election.
Totally agree on the whole 'character politics' front - it's getting more and more like a presidential election every time (I'm actually a looney liberal so I'm thinking we could be in BIG election trouble next time around with this 'Calamity Clegg' character - in his case I think the word character could be stretching it!)
On the whole I think in the world economy - times are hard, internationally that is just the way it is right now. I don't really blame Labour for many of the economy balls ups as I don't believe for a second that the Tories would have handled it much better - Labour seem to be following Tory policy for the most part anyway!
Their one glaring balls up for me is the lower tax rate cock up - That needs to be sorted and quickly!
It's a good time to have fixed my mortgage for 7 years, 2 years ago.
I don't treat my house as an investment and never have. I treat it as my home, hopefully for many years to come. In 20 years or so when I've paid the mortgage off, the house will be mine, with no more monthly mortgage payments of ~?700 to make, unlike if I was renting. I'll hopefully continue living there long after the mortgage is paid off.
How on Earth do you come to the conclusion that "your house is not an asset it is a liability"?
Cue Alan Sugar and his ?800 million property portfiolio. :cry:
Will he have to pay for the guards himself, or will it be the public who fund it?
No, don't tell me, I think I can guess...
Incidentally, you NEVER see coppers on the beat anywhere around here. And yet we pay our taxes...
I bought a house in December - first time buyer, too - because I was paying ~?7,000/year rent. Unless the value of my house drops by that amount per year (~7% drop), then I'm not worrying about that either.
But then of course I live northwards - home-owners in the south must be shitting themselves.
Just repeating his point of view - It seemed an interesting one to me and the logic does make some sort of sense if followed through.
Even when your mortgage is payed off your house doesn't stop costing you money - you need new windows now and then, you need to re-point and re-roof every so often, central heating systems need upgrading etc. The larger your house the more these things and your other regular bills will cost you.
His point is that if you put all the things on a balance sheet that your house costs you over time you will never get that money back realistically - as you live there. Even if you sell it you will proportionally only ever be able to afford a house of equivalent size to that which you bought.
Assets bring money in liabilities take money out - therefore if you follow this logic your home is a liability rather than an asset.
The logic does work - but it is against the way we traditionally think about it - that's all...
Sorry, but that logic does not work.
There is no way that the maintenance of my house will cost at least my mortgage payments once it's paid off. Far from it. Sure there will be some costs, but no where near as much as the mortgage payments.
Over ?8,000 a year to maintain things like windows, central heating, etc? Pull the other one.
Did this guy gamble on the housing market and lose? From his twisted "logic" I wouldn't be surprised.
When i used to rent i hated it, just throwing money away. Quite happy (even with a high mortgage) paying for the house as its money i will get back eventually (granted not all but a good chunk compared to renting).
I live in far better neighbourhood than the social housing estates round here. I couldn't afford to rent a house like this one. I don't pay rent, so I can even save a little each month.
No way would I want to be a rent paying tenant again.
Seeing David Cameron now, reminds of me Tony Blair before he was elected. So, I think amongst other things that the Tories will be aiming for the under 30 vote, those not old enough to be cynical enough to remember that.