UK debt crisis

RenovationMan

DervProf wrote: »

So sorry to upset you.

Please continue to compare your personal financial situations.

Erm, you were the only person comparing your financial situation and you couldn't wait to tell everyone just how much money you had. What's ironic is that you're always saying I'm the braggard and yet you have no idea about my finances except the MFW details in my signature.

hypocrite?

DervProf wrote: »

I'm off to do something more productive/enjoyable.

LOL, what off to count your money? This is as funny as your last dramtic exit where you flounced out of the board calling me "Retardman" (pathetic :rotfl:) and wasn't seen again for about 4 weeks until the damage to your ego had died down.

DervProf

RenovationMan wrote: »

This is as funny as your last dramtic exit where you flounced out of the board calling me "Retardman" (pathetic :rotfl:) and wasn't seen again for about 4 weeks until the damage to your ego had died down.

And I bet you were counting down every day of those 4 weeks.

How sad.

DervProf

RenovationMan wrote: »

Pitiful really, and I'm not just talking of the net wealth of a life-long single and childless bloke approaching his 45th year. :rotfl:

I take it that you think I'm life-long single and approaching 45 ?

Wrong (yet again), on both counts.

And even if I were, what's the problem with being single and approaching 45 (having had previous relationships, or not) ?

I have a few friends that qualify on both counts, and I wouldn't ridicule them for being so. Even if they were people I didn't agree with, or like, I wouldn't use those attributes to denigrate them.

And here's another (of many) ridiculous statements that seem to emerge from your keyboard..........

RenovationMan wrote: »

you couldn't wait to tell everyone just how much money you had.

I bet you can't work out what you got spectacularly wrong there.

RenovationMan

DervProf wrote: »

I take it that you think I'm life-long single and approaching 45 ?

Wrong (yet again), on both counts.

And even if I were, what's the problem with being single and approaching 45 (having had previous relationships, or not) ?

I have a few friends that qualify on both counts, and I wouldn't ridicule them for being so. Even if they were people I didn't agree with, or like, I wouldn't use those attributes to denigrate them.

LOL, your attempt at deflection and straw man argument building is so transparent even a 5 year old could see it a mile away.

There was no denigration of singleton, childless 45 year olds, there was a denegration of yourself as a single 45 year old bragging about hsi wealth on the internet. The point was that your wealth was pretty ordinary for a single, childless 45 year old. Pretty impesssive for a married man with children to raise though....

JonnyBravo

Well I for one am interested to know DervProf's situation.
I find stuff like this fascinating. Don't know why, I don't know him from Adam but I do find it interesting nonetheless.

Equally of course I find it interesting to know your situation RM and have said so. And you said you thought it was interesting/appropriate too. But now you've jumped on a chance to do a "No, you are" back at Derv due to his apparent guilt of what he pulls you up for, rather than engaging in conversation about it.

More's the pity.
Not sure of my point. And I'm more than aware that a cheap "point score" is sometimes satisfying, but I thought the possible conversation here could have been a bigger win.
Derv is no geneer in that he does actually engage and answer questions etc.

Ah I'm just rambling now...

<bumbles off>

chucknorris

JonnyBravo wrote: »

Well I for one am interested to know DervProf's situation.
I find stuff like this fascinating. Don't know why, I don't know him from Adam but I do find it interesting nonetheless.

Equally of course I find it interesting to know your situation RM and have said so. And you said you thought it was interesting/appropriate too. But now you've jumped on a chance to do a "No, you are" back at Derv due to his apparent guilt of what he pulls you up for, rather than engaging in conversation about it.

More's the pity.
Not sure of my point. And I'm more than aware that a cheap "point score" is sometimes satisfying, but I thought the possible conversation here could have been a bigger win.
Derv is no geneer in that he does actually engage and answer questions etc.

Ah I'm just rambling now...

<bumbles off>

I don't want to (and will not) get dragged into yet another pointless internet row but I have to say what you said makes sense. I've never had a problem with Derv, I just think for some reason they dislike each other as they seem to argue a fair bit (obviously I have no problem with RM either).

homelessskilledworker

chucknorris wrote: »

The debt expressed alone doesn't mean anything, our mortgage debt is 700k, but that doesn't particularly mean anything.

Yes it does, it means you are in debt to the tune of £700k.

For some reason mortgage debt over the last decade has been treated for the first time in history like it is NOT REALLY" like other debt. And the main reason for that is that Gordon Brown started an illusionary economy where the UK was persuaded to max out on debt, and what made it all ok in his Ponzi scheme was the fact that on paper people loked at their property equity and it all made sense.

That is why you get so many aggressive pro property HPI types on boards like this, they are terrified their world is about to crumble and they are not as rich as they were conned in believing, they are suddenly £700k in debt.

chucknorris

homelessskilledworker wrote: »

Yes it does, it means you are in debt to the tune of £700k.

For some reason mortgage debt over the last decade has been treated for the first time in history like it is NOT REALLY" like other debt. And the main reason for that is that Gordon Brown started an illusionary economy where the UK was persuaded to max out on debt, and what made it all ok in his Ponzi scheme was the fact that on paper people loked at their property equity and it all made sense.

That is why you get so many aggressive pro property HPI types on boards like this, they are terrified their world is about to crumble and they are not as rich as they were conned in believing, they are suddenly £700k in debt.

With respect I don't think you have thought this through, imagine the following circumstances:

Scenario 1:
Debt - 700k
Savings - 50k
Equity/assets - 250k

Scenario 2:
Debt - 700k
Savings - 500k
Equity/assets - 1m

Scenario 3:
Debt - 700k
Savings - 10k
Equity/assets - 25k

According to your way of looking at things someone in any of the above scenarios is equally in trouble, which is far from reality.

homelessskilledworker

chucknorris wrote: »

With respect I don't think you have thought this through, imagine the following circumstances:

Scenario 1:
Debt - 700k
Savings - 50k
Equity/assets - 250k

Scenario 2:
Debt - 700k
Savings - 500k
Equity/assets - 1m

Scenario 3:
Debt - 700k
Savings - 10k
Equity/assets - 25k

According to your way of looking at things someone in any of the above scenarios is equally in trouble, which is far from reality.

Not at all, and you have made my point for me, as well as making yours as well(quite well I might add).

Borrowing money in order to invest in anything can be good as long as you do your homework and research and have a good buisness plan.
In the case of property, and I am talking about people who did it more for the fast buck and investment now, far too many went in to it blindly caught up IMO in the bubble mania which obviouly caused a speculative rise in value. Not all will get into trouble, and again reading between the lines I suspect your own buisnes plan is not built on sand, but there are many who's are. I have already witnessed people getting into trouble because of heavy borrowing in order to buy property as well as seen make a killing in property who are now out of it and waiting for the next big thing.

DervProf

RenovationMan wrote: »

The point was that your wealth was pretty ordinary for a single, childless 45 year old. Pretty impesssive for a married man with children to raise though....

You seem to be judging people by their financial status.

I know very wealthy people, I know people who are relatively poor. There is nothing "impressive" about being well off, unless you know the story behind how that wealth was obtained. A millionaire may have worked very hard to get his/her money, may have won the lottery, or may have obtained it through crime. And even if a wealthy person worked hard, it doesn't stop that person being a rather unlikeable character, does it ?