Deflation

michaels

chucknorris wrote: »

I'd rather have it the other way, borrowing at 12% and my property (properties) growing at 20%. That would suit me fine.

Except the govt would be quite happy to apply real tax to that illusory money gain

chucknorris

michaels wrote: »

Except the govt would be quite happy to apply real tax to that illusory money gain

Bring it on, the Gov. doesn't tax capital gain until it is actually realised. But the profit is real before that, there isn't any illusion about it, just because it hasn't yet been actually capitalised into cash, doesn't make it unreal. Fair enough things can turn bad, but I definitely don't want to store my wealth in cash (not yet anyway, I'll probably go to cash via shares, then bonds before cash).

Mistermeaner

I think this is mostly down to primark and oil.

They should measure sky and cheese burgers as a more meaningful reflection of day-to-day costs of living.

Another key benchmark is how much was a pack of fags when you were at school? £1.20 for 10 embassy if I recall correctly.

kinger101

chucknorris wrote: »

Bring it on, the Gov. doesn't tax capital gain until it is actually realised. But the profit is real before that, there isn't any illusion about it, just because it hasn't yet been actually capitalised into cash, doesn't make it unreal. Fair enough things can turn bad, but I definitely don't want to store my wealth in cash (not yet anyway, I'll probably go to cash via shares, then bonds before cash).

Even when crystallized (i.e., asset sold), part of it is now not a real gain as Brown axed taper relief.

caronoel

MJ12 wrote: »

And perhaps another round of QE too.

I doubt that will be needed.

No rate rise for another 12 to 18 months should be enough to drive Devon, twit1234, and their like to complete despair.

:D

chucknorris

kinger101 wrote: »

Even when crystallized (i.e., asset sold), part of it is now not a real gain as Brown axed taper relief.

It was the axing of indexation (not taper relief) which made CGT a bit unfair, in terms of dealing with inflation. Taper relief was a step in the wrong direction, it didn't consider actual inflation, like indexation did, but it wasn't as unfair as the present system. But it was still possible to be paying CGT with taper relief in place when you made a real term loss, under the current system that scenario is even more possible, than it was with the taper relief system.

[Deleted User]

Mistermeaner wrote: »

I think this is mostly down to primark and oil.

They should measure sky and cheese burgers as a more meaningful reflection of day-to-day costs of living.

Another key benchmark is how much was a pack of fags when you were at school? £1.20 for 10 embassy if I recall correctly.

90p for 20 in fact when i started smoking they were 3/6 for 10...god am i that old?

Thrugelmir

woodbine wrote: »

90p for 20 in fact when i started smoking they were 3/6 for 10...god am i that old?

My first Saturday job was working on petrol pumps. Petrol being 28p a gallon.

chucknorris

Thrugelmir wrote: »

My first Saturday job was working on petrol pumps. Petrol being 28p a gallon.

I also did that full time for about 6 weeks during the first summer after leaving school whilst waiting for my apprenticeship to start.

Did you serve anyone famous? I did a few, but the only one that I can clearly remember was Brian Johnson (lead singer of Geordie and AC/DC, it was over 40 years ago).

Thrugelmir

chucknorris wrote: »

Did you serve anyone famous?

Most interesting guy was a F1 engine scrutineer. He used to give us tickets etc to Brands Hatch. The year Lauda and Hunt had their famous duel. I was given a couple of full access pit passes for the full 3 days and grandstand seats on the starting line.

Garage was in Reigate. So plenty of money! One account holder owned the very first Jaguar XJ6 that was the display model at the London Motor Show. There was a Lloyds underwriter who underwrote George Best's legs. Another was a world Go Karting champion who later raced in F3.