My god, someone said it in public! I thought I was insane

[missfire]

http://www.theguardian.com/commentis...s-happen-video

I might still be insane and may have just watched an episode of Tom and Jerry, but I won't know that unless someone else watches it..

[ChrisG]

oh!
Sorry, no it wasn't a Tom & Jerry episode.
I've been concerned along these lines for several years but thought I must be missing something, somewhere, ....... but it seems not.
My wife will tell you that I've been banging on about how wrong QE is......she's fed up with me/it !
I hope the journalist is wrong....

It's like teaching your children that DON'T or NO and them ignoring you can lead to some form of retribution! No retribution? Then everything just carries on.

I live in a crazy area , the value of my house has gone up 20%+ in the last 2 years, but it's just somewhere to live , not really an investment as you still need somewhere to live....... unless you check out ( and then somebody else is going to benefit not you).
Or perhaps I've got it all wrong.

Is the answer to let a couple of 'too big to allow to fail' organisations fail, it surely will make the others VERY careful.

I watched the programme on the Rich recently, the top 1%.
One CEO guy was worth £280+ million, and is still being paid £mmmms each year. Nobody is worth paying that much.

[hmg]

Originally Posted by ChrisG

oh!
Sorry, no it wasn't a Tom & Jerry episode.
I've been concerned along these lines for several years but thought I must be missing something, somewhere, ....... but it seems not.
My wife will tell you that I've been banging on about how wrong QE is......she's fed up with me/it !
I hope the journalist is wrong....

It's like teaching your children that DON'T or NO and them ignoring you can lead to some form of retribution! No retribution? Then everything just carries on.

I live in a crazy area , the value of my house has gone up 20%+ in the last 2 years, but it's just somewhere to live , not really an investment as you still need somewhere to live....... unless you check out ( and then somebody else is going to benefit not you).
Or perhaps I've got it all wrong.

Is the answer to let a couple of 'too big to allow to fail' organisations fail, it surely will make the others VERY careful.

I watched the programme on the Rich recently, the top 1%.
One CEO guy was worth £280+ million, and is still being paid £mmmms each year. Nobody is worth paying that much.

Top 1% earn an average of £160,000 according to HMRC and contribute 30% of the tax take.

Super rich are probably in the top 0.2% which is largely London/ foreign wealth driven and not a countrywide phenomenon.

I would wager the personal debt mountain (ex mortgage payments ) as a percentage of earnings is far greater the further down the earning scale you go.

Unfortunately those that can least afford it tend to be the very ones who feel the need to go into debt to get it. (Whatever it may be?)

The link between sluggish wage inflation and house price inflation is the major problem IMHO,especially for the youth of today..

[rich.r]

I think part of the problem is the "i have to have it now" culture

What happened to saving up for something

Buy to let doesn't help either

[missfire]

House prices are impossible here, lifestyle 'immigrants' have caused prices to multiply by a factor of four since 2003. Average price about £165k and average wages of about £18k.. ratios are haywire. It'll reset nationally one day though, there is no option.

To big to fail is a load of sh*t. Any single one of these goes under and the derivatives exposure and interdependancy sink the human race for a few decades, end of, they don't tell you that on BBC!

Never have used personal credit, 'cause I'm too tight to pay interest, but maybe a blessing im disguise. You only have to look at Russia now to see how normal people are absolutely powerless against, and screwed in respect to currency fluctuation and interest rates.

It's coming, get out of debt asap is key. And get friendly with someone who has land. Takes a minimum of four acres to feed a family, presuming you know how to do it, skills we've lost long ago.

(my wife and yours would have a lot in common. sick listening to me too.)

[Ringmaster]

Originally Posted by rich.r

I think part of the problem is the "i have to have it now" culture

What happened to saving up for something

Buy to let doesn't help either

Mate of mine had a very good position in Accountancy. A few years ago he lost his job and had to give up his car (Merc). I didn't realize just how good a position he had until he mentioned his mortgage & car payments alone were £8k a month!

Looking back, he can't believe he was forking out £3k a month just for the car.

He's doing well again but has scaled back his excesses.....

[MSL]

[quote=Ringmaster;371920]Mate of mine had a very good position in Accountancy. A few years ago he lost his job and had to give up his car (Merc). I didn't realize just how good a position he had until he mentioned his mortgage & car payments alone were £8k a month!

Looking back, he can't believe he was forking out £3k a month just for the car.



£3k a month on a car?
What Merc was that then?

[missfire]

Bottom ofthe range B-class, plus interest, plus coffee, plus the salesman's shiny suit.

[ChrisG]

[MSL]

I'd be surprised if it is even possible to spend £3k a month on a Merc of any description.