Blame the Banks or The Government?

atush

I suffered no 40% captial loss recently? I didn't even suffer that in the credit crunch?

What the H are you talling about?

I have no wish to chat with simpletons, thanks

grizzly1911

atush wrote: »

I suffered no 40% captial loss recently? I didn't even suffer that in the credit crunch?

What the H are you talling about?

I have no wish to chat with simpletons, thanks

There are enough "professionals" on here who warn that 40% losses are possible and should be borne in mind when assessing your ATR.

In "recent" I was referring to to the 2008 ish falls where substantial falls were seen, even more if Banks were held.

I will pass on your kind thoughts;)

Glen_Clark

ColdIron wrote: »

What Osborne is doing doesn't begin compare to the economic vandalism Brown wreaked on the UK. Brown broke the private pension engine permanently

It was exorbitant charges and commission driven salesmen that broke the private pension engine. People won't trust them now. But it suits them to blame it all on Brown.
Osbornes taxpayer funded interest free loans on £600k sub prime mortgages to pump up house prices is the most reckless and damaging scam I have seen from any Chancellor.

Glen_Clark

Thrugelmir wrote: »

Sub prime no longer exists as far as mainstream lenders are concerned in terms of new advances.

WEll they are not Prime Mortgages are they. If they were Prime mortgages they wouldn't need taxpayer backing. So they must be Sub-Prime

Thrugelmir wrote: »

A house price crash is the last thing that the UK needs right now.

Try telling that to the homeless.
What the UK needs right now is that money invested in industry to produce exports. Not to inflate house prices to line the pockets of Bankers and BTL spivs living off taxpayer funded housing benefits.

grey_gym_sock

if we agree that we should be aiming for the middle ground between precipitating a house price crash and inflating a house price bubble ...

continued low interest rates are - whatever you think of their other effects - doing a pretty good job of avoiding a house price crash. a crash seems very unlikely while they stay so low.

under the circumstances, osborne's schemes seem designed to inflate prices. which actually makes a crash more likely, though only at a later date.

grey_gym_sock

some ppl want to blame gordon brown for everything.

by far the biggest reason final-salary pension schemes have been shut is that employers decided the investment risk they were taking on was too great. something they found it easier to overlook during the booming equity markets of the 1980s and 90s.

tax changes played a much smaller part.

grey_gym_sock

though seriously, i agree with atush that you should take responsibility for your own life, instead of looking for someone to blame. or at least: take responsibility for deciding who to blame, instead of asking an internet forum.

talexuser

grey_gym_sock wrote: »

tax changes played a much smaller part.

I believe they started the rot and helped the commision salesmen. He took away the tax advantage of dividends as soon as he came in wasn't it? I read that just that change had cost private pensions around 175 Billion loss by the time of the crash in 2008. That is not insignificant. As for the boom, my final salary scheme had an employer contribution holiday of 12 years during the boom of 80s/90s while we continued to pay. I'm very happy with my pension but find it disheartening that our children and grandchildren will not have the security of such a good scheme with employer contributions, and were urged to take out private pensions with great chunks of the returns hived off by sharks in the banks and city, and now scuppered in the way of annuities for many years.

Glen_Clark

grey_gym_sock wrote: »

osborne's schemes seem designed to inflate prices. which actually makes a crash more likely, though only at a later date.

...after the election;)
The only thing Osborne is any good at is politics. He organised Cameron's successful leadership campaign. Why else is he Chancellor?
Unfortunately the skills needed to climb the greasy pole of politics, which Osborne undoubtedly has, are not the skills needed to run the economy

Glen_Clark

talexuser wrote: »

were urged to take out private pensions with great chunks of the returns hived off by sharks in the banks and city

exactly and the gist of their sales pitch were the tax advantages you got if you saved in their scheme. But in many cases they were helping themselves to as much as you saved in tax. So the tax savings were just going to fund themselves, not the mug who bought their private pension - he would probably have been better off forgoing the tax savings and leaving his money in a deposit account. No wonder they were annoyed when Brown took that away from them.