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Mortgage Equity Withdrawal
Comments
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Consolidating debt to pay it back at a cheaper interest over a longer period of time is a good thing that these figures sometimes hide.
Yes although the trick is to not then simply run up the c/card debt or loan all over again. Some but not all of the people I know who've MEWed managed that.0 -
Or the "wealth" was an illusion. What the accountants thought was wealth wasnt in any real sense.
If you, as you seem to do, regard the wealth generated by manufacturing as being encapsulated in the manufactured item and that this is different to services where wealth cannot be encapsulated it seems to me you have a real problem with housing (or works of art). After the point of manufacture these can increase or decrease in value. A decrease one could understand as real depreciation ie wearing out, but an increase? Where does the extra value come from? Clearly not from the hard work of the manufacturer who is long gone.
Well houses have performed pretty well over reasonable periods. The facts speak for themselves. The increase comes from the well known phenomenon of 'supply and demand'. This is nothing specific to either 'goods' or 'services' just plain and simple competition and who wants to buy.
Works of art is not area of my expertise, but it is distinguished betwee those who have 'made it' and those that haven't. Banksy has 'Made it'.
And the manufacturer (as you put it, but I would say 'artist') may well be long gone, but it is well known that the death of any established artist means his works will sky rocket. The supply is fixed, the demand tends to increase.
Some frog called cezanne painted a rather juvenile picture of two card players and someone happily paid $259 million for it. Don't ask me to justify it, and don't ask me to justify its value, but personally I'd call it a 'bubble'.0 -
After the point of manufacture these can increase or decrease in value. A decrease one could understand as real depreciation ie wearing out, but an increase? Where does the extra value come from?
Scarcity.
Demand exceeding supply.
The same place an increase in the value of a classic car comes from, that was sold new for £2500, and is now worth £2,500,000.“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 -
Loughton_Monkey wrote: »Some frog called cezanne painted a rather juvenile picture of two card players and someone happily paid $259 million for it.
Well clearly that's just nonsense.
Don't you know that it costs money to store artwork properly and care for it over centuries?
That should have depreciated from the £2 it would have cost new, down to nothing today, following bear logic anyway......“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 -
HAMISH_MCTAVISH wrote: »Well clearly that's just nonsense.
Don't you know that it costs money to store artwork properly and care for it over centuries?
That should have depreciated from the £2 it would have cost new, down to nothing today, following bear logic anyway......
Seems to be a lot of bear logic going on.
Personally, with this specific painting, I think a lot of talented art college students could paint more convincingly. So if I owned it, I'd pay a student a few bob to 'overpaint' it with a bit more detail and realism. Maybe worth a bit more then eh?
Does antique Scotch appreciate provided the owner resists the strong temptation to drink it?0 -
That's changed then, I did Economics GCE when I was 15.
yes, in general education has been dumbed down a bit since your star was in ascension
it is also allowable to make some simple assumptions about brief generalised comments
so it would e.g. be permissible to conclude that I didn't really mean not one single 15 year old didn't do economics but rather that the vast majority don't0 -
Ah OK, I thought you simply got it wrong so I thought I'd correct you. Apologies if you feel like you've been mugged up.0
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