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Help To Buy - Overwhelmingly popular with voters
Comments
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HAMISH_MCTAVISH wrote: »
UK residential mortgage lending standards did not bring down the UK banks. It's as simple as that.
Having saddled lots of consumers with debt levels they are just managing to service. Committing the next generatinons of students to continuing high levels of debt we are now looking to saddle the next generation with more untold debt to keep our sick economy afloat.
At the same time make sure you are saving at least 10% a year towards your pension.
Farmers, planters, and shopkeepers in the American colonies found it very difficult to hire free workers, primarily because it was so easy for potential workers to set up their own farms.[1] Consequently, a common solution was to transport a young worker from England or Germany, who would work for several years to pay off the debt of their travel costs. During the indenture period the servants were not paid wages, but were provided with food, accommodation, clothing and training. The indenture document specified how many years the servant would be required to work, after which they would be free. Terms of indenture ranged from one to seven years with typical terms of four or five years.[2]
http://en.wikipedia.org/wiki/Indentured_servant
Never mind if we stretch the boundaries you may be free of debt in 30/35 years these days.
Never mind we have a healthy housing market and HPI."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Having saddled lots of consumers with debt levels they are just managing to service. Committing the next generatinons of students to continuing high levels of debt we are now looking to saddle the next generation with more untold debt to keep our sick economy afloat.
At the same time make sure you are saving at least 10% a year towards your pension.
Farmers, planters, and shopkeepers in the American colonies found it very difficult to hire free workers, primarily because it was so easy for potential workers to set up their own farms.[1] Consequently, a common solution was to transport a young worker from England or Germany, who would work for several years to pay off the debt of their travel costs. During the indenture period the servants were not paid wages, but were provided with food, accommodation, clothing and training. The indenture document specified how many years the servant would be required to work, after which they would be free. Terms of indenture ranged from one to seven years with typical terms of four or five years.[2]
http://en.wikipedia.org/wiki/Indentured_servant
Never mind if we stretch the boundaries you may be free of debt in 30/35 years these days.
Never mind we have a healthy housing market and HPI.
However does being an indentured worker tied to his employer compare with paying a 10% or so of debt repayment while living a free life and enjoying one of the highest standards of living in the world.0 -
Originally Posted by HAMISH_MCTAVISH
Popular, and indeed relatively harmless, as it wasn't UK mortgage lending standards that brought down the UK banks.
:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
The same old same old lines.........0 -
Thrugelmir wrote: »The same old same old lines.........
Yet still as true today as they ever were."but really it's all our fault, for running up so much debt. We all had a binge, and now we have to pay."
It's an excellent morality tale, which chimes well with the British tendency towards self-flagellation.
There's just one problem. It's not really true.
And why would that be?The debt that's caused the problems hasn't been the debt of households.
It really has been down to silly bets by Britain's banks (and other parts of the financial system), which were NOT bets on UK residential property.
Most of them weren't even in the UK.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »Hamish, why do you insist on spinning everything to the absolute extreme?
I rarely bother to read his posts any more.
I'm surprised he hasn't been headhunted by one of the parties.... You have to credit him, he is very very good at it, not plausible but still very good in the art of spin.
Reminds me of a Jahova witness who comes round nearly every month trying to preach.He's a pain in the a** but I kinda like him for not giving up.0 -
However does being an indentured worker tied to his employer compare with paying a 10% or so of debt repayment while living a free life and enjoying one of the highest standards of living in the world.
Just add it to the minimum of 25% +tax, 35+ % mortgage repayment, 10%+ pension contribution, 10% transport costs yep pretty free.
Not to worry we will have a thriving housing economy so Hamish will be happy.
Standards of living are relative."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
leveller2911 wrote: »I'm surprised he hasn't been headhunted by one of the parties.... You have to credit him, he is very very good at it, not plausible but still very good in the art of spin.
Trouble with spin is that people simply ignore it. Talking to oneself is of no benefit. Other to convince oneself that ones views are right. Meanwhile the debate has moved on.0 -
Isn't this what they did in America? The govt underwriting mortgages basically. That turned out well....0
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tinkerbell28 wrote: »Isn't this what they did in America? The govt underwriting mortgages basically. That turned out well....
Completely different scenario.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
grizzly1911 wrote: »Just add it to the minimum of 25% +tax, 35+ % mortgage repayment, 10%+ pension contribution, 10% transport costs yep pretty free.
Not to worry we will have a thriving housing economy so Hamish will be happy.
Standards of living are relative.
Indeed standards of living are relative.
We are extremeley fortunate to have one of the highest standards of living in the world, which are in no way comparable with indentured servitude.0
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